JAMAICA- Jamaican Olympic legend Usain Bolt didn’t have a good start to the new year. As reported by the Jamaica Observer, sprinting legend Usain Bolt lost his entire retirement fund.
It is estimated that the scammer took around $10 million from Bolt, leaving him with close to nothing. It is currently unknown whether or not the legend will be able to recover the investments he made in Stocks and Securities Limited (SSL).
In the years since the account was opened in 2012, Bolt has not made any transactions. The former Olympian even confirmed that he invested all of his retirement funds, estimated to be around $10 million. Around $9,998,000 was stolen by the scammers, leaving the sprinting legend with just $2,000.
According to reports, SSL lost more than $1.2 billion due to an employee who assisted an outside wealth advisor. Despite raising suspicions around August last year, the company failed to catch the notorious scammer in time. Bolt is among 30 people who lost all their investment money, and the recovery is still in doubt.
What’s next for Usain Bolt?
At present, Bolt’s decorative career has earned him most of his wealth. It has been made clear by SSL that their officials have failed to catch this notorious scammer. Furthermore, the company was unaware that Bolt had already been affected.
Financial Services Commission (FSC) reports that SSL has been accused of unauthorized sales in the past. A representative from FSC confirmed that SSL overlooks FSC’s authorization procedures.
This statement has prompted several questions for SSL from investors, including Bolt. As a result of this mishap, Bolt’s management team tried to warn SSL about the possibility of the future. It is evident that their words were not heeded.
Hopefully, the decorated sprinter will be able to pull himself out of this financial muddle soon.