What do you do when you check your accounts and realize suddenly millions of dollars are missing? This nightmare is an all too common reality for the former fastest man in the world, Usain Bolt. The eight time Olympic gold medalist’s finances are now at the center of an investigation after millions of dollars were reported missing from his investment accounts.
What Happened?
Bolt invested millions into the Jamaican private wealth management company, Stocks & Securities Ltd. The company is based in Kingston, Jamaica. The retired athlete noticed discrepancies in his portfolio and reported the loss of millions to authorities. Now, the Financial Services Commission has placed the company under “enhanced oversight” as it is suspected of fraud. Bolt’s manager told media outlets he has had investments with Stocks & Securities Ltd. more than a decade. His entire protfolio is under review as part of the investigation. SSL is responding to the accusations of fraud. The company is blaming a former employee for the missing millions. According to DailyMail, the company says it has alerted the relevant law enforcement authorities to the fraud.
How did Usain Bolt earn his wealth?
Bolt is known as one of the greatest sportsmen of all time. In the most recent Forbes list he had a reported net worth of nearly $90 million. He earned most of his wealth during his time professionally running track. Bolt’s 100m time of 9.57 seconds, set in Berlin in 2009, remains the world record and he also retains the fastest time in 200m. He retired from athletics in 2017 after eight Olympic golds and 11 World Championship titles.
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