THE SPORT SCAN – The sprint legend may have lost all of his investments in a fund investment business.
Jamaican authorities are investigating a company holding funds invested by sprinting legend Usain Bolt, which media reports said may have lost millions of dollars in a massive fraud.
Jamaica’s Financial Services Commission (FSC) said on Thursday it placed Stocks and Securities Limited (SSL) under “enhanced monitoringfor the duration of the investigation.
Nugent Walker, Usain Bolt’s manager, told Jamaica Gleaner that the retired Jamaican sprinter invested money with the company about a decade ago.
“All measures have been taken to know the end of this story“, he said, adding that the eight-time Olympic gold medalist had noticed anomalies on his account on Wednesday. “Its entire portfolio (of investments, editor’s note) is being examinedadded Mr. Walker. Millions of dollars are missing, according to the newspaper.
An investigation for “allegations of fraud”
Nugent Walker was not immediately available for comment. Contacted, the SSL company did not respond on Friday. The FSC said it is aware of the “fraud allegationsabout SSL.
She said in a statement that she had issued “instructionsfor the company, which allows it to set up a “enhanced monitoring process“. This procedure allows the FSC to monitor transactions made, including the movement of funds and securities into and out of SSL. The FSC added that it would continue in parallel to “investigateabout this company.
Usain Bolt retired in 2017 after a decade of unchallenged dominance in the men’s sprint. During his career, he notably won eight Olympic gold medals. The former sprint king still holds the 100m and 200m world records.