The eight-time Olympic gold medal winner Usain Bolt’s investments are being investigated by the Jamaican financial authorities after it was claimed that he may have lost millions to widespread fraud.
Stocks and Securities Limited (SSL), according to a statement from Jamaica’s Financial Services Commission (FSC), is under “enhanced oversight” while an investigation is being conducted.
The former sprinter, one of the greatest athletes of all time, has investments with the company, according to Bolt’s manager Nugent Walker, who spoke to the Jamaica Gleaner newspaper.
Walker told the newspaper that “all the necessary steps have been taken to get to the bottom of this,” adding that the athlete had picked up on inconsistencies in his account on Wednesday.
“He’s been with this entity for over 10 years… His entire portfolio is being reviewed,” he added.
The FSC said it was “aware of reports of allegations of fraud at one of its licensees, Stocks and Securities Limited (SSL).”
“The FSC has issued Directions to SSL. These Directions which were dispatched to the company on Thursday January 12, 2023 are a supervisory tool to allow the FSC to engage an entity in a process of enhanced oversight,” the body said in their statement.
The FSC said the oversight process would allow them to have a “full view of the integrity of the transactions being conducted, including the movement of funds, and of securities into and out of SSL.”
“The FSC will simultaneously continue its investigations into matters related to SSL,” they added.
After a stellar career that saw him win 11 World Championship gold medals in addition to eight Olympic golds, Bolt retired from competition in 2017.
When he won the 100- and 200-meter sprints at the 2008 Summer Olympics in Beijing and broke new records in both events, Bolt shot to international celebrity.
The Jamaican went on to win both of her races in the 2012 London and 2016 Rio Olympics. Bolt still holds both the 100 and 200 meter world records with his timing of 9.572 from Berlin in 2009.
