Jamaica launches fraud probe after Bolt reports millions missing

[keemz]

Jamaican financial authorities have launched an investigation into a company holding investments for eight-time Olympic gold medallist Usain Bolt after reports that he may have lost millions to large-scale fraud.

Stocks & Securities Ltd, a private wealth management company based in the capital of Kingston, was placed under “enhanced oversight” while the Financial Services Commission (FSC) conducts the inquiry.

Bolt’s manager, Nugent Walker, told The Gleaner newspaper that the retired sprinter has had investments with the company for more than a decade.

The daily said millions of dollars were reported missing from Bolt’s account.

“All the relevant steps have been taken to come to the bottom of this,” Walker told the news outlet, saying the athlete had noticed discrepancies with his account on Wednesday. “He’s been with this entity over 10 years … His entire portfolio is being reviewed.”

The FSC said it was “aware of reports of allegations of fraud at one of its licensees, Stocks and Securities Limited (SSL)”.

Bolt retired from athletics in 2017 after a career that, in addition to eight Olympic golds, included 11 World Championship titles.

 

[The Lonious Monk]

Damn, tough break. We might see that nigga racing in the next Olympics now.

 

[LurkerSix]

That company fucked up big time. And Bolt made enough money to lose million and be ok, hes just pissed

 

[LurkerSix]

Saw this in the other thread. It was 12mill from his investment account

Might be a global banking systems thing

 

[The Lonious Monk]

That company fucked up big time. And Bolt made enough money to lose million and be ok, hes just pissed

I'm sure he made a lot of money, but I don't know if it's enough to just wave off 12 mil like it's no big deal. Olympic stars don't make high level NBA/NFL type money.

 

[Blue_London]

I'm sure he made a lot of money, but I don't know if it's enough to just wave off 12 mil like it's no big deal. Olympic stars don't make high level NBA/NFL type money.

 

[The Lonious Monk]

View attachment 1002535

What's that supposed to mean?

 

[Englishdude]

What's that supposed to mean?

 

[Dwayne]

What's that supposed to mean?

He’s just acting like American sports don’t pay the most money in most cases.

 

[SeaSnake]

He’s just acting like American sports don’t pay the most money in most cases.

I think he saying just because American Olympic athletes don’t get a lot of money it must apply to the rest of the world. That’s American arrogance.

 

[Blue_London]

I think he saying just because American Olympic athletes don’t get a lot of money it must apply to the rest of the world. That’s American arrogance.

Lmao the ignore function on this site saves me from stuff like this.

But thank you for explaining it.

 

[SeaSnake]

Lmao the ignore function on this site saves me from stuff like this.

But thank you for explaining it.

Like it was real simple lol

 

[Blue_London]

Like it was real simple lol

Also bolt wasn't any athlete. I'm pretty confident he's more known than 99% of NFL and NBA athletes. He became a house hold name in Beijing and Berlin and a global super star in 2012. That meant the guy was on everything marketable

 

[Dwayne]

Lmao the ignore function on this site saves me from stuff like this.

But thank you for explaining it.

I think he saying just because American Olympic athletes don’t get a lot of money it must apply to the rest of the world. That’s American arrogance.

It’s extremely rare olympians make big time money close to Bolt compared to American athletes due to how the Olympics is structured and when it takes place.

But go head, also you’re the same dude that argued me drugs being decriminalized and legal are the same thing.

 

[SeaSnake]

It’s extremely rare olympians make big time money close to Bolt compared to American athletes due to how the Olympics is structured and when it takes place.

But go head, also you’re the same dude that argued me drugs being decriminalized and legal are the same thing.

Yea but this is about Bolt so thanks

 

[Dwayne]

they need to be launching probes into a lot of shit.

 

[Dwayne]

Yea but this is about Bolt so thanks

He said Olympic stars but you right. Let’s just keep it about Bolt since this is his thread

 

[LurkerSix]

I'm sure he made a lot of money, but I don't know if it's enough to just wave off 12 mil like it's no big deal. Olympic stars don't make high level NBA/NFL type money.

Bolt dominated track and changed the sport from his first appearance in 2008 till he retired. Normal Olympic stars dont make what he made. He was a global star and has been in all kinds of commercials and endorsement deals. Hes been on forbes highest paid athletes for years and i know his Puma deal alone paid him like 10 mill a year. So he was def making NBA/NFL money. Yall really gotta stop thinking only American sports athletes are rich. I'm willing to bet cuz of Bolt all track athletes in general got a pay boost.

His standard of living wont change, but he's not bout to let 12mill disappear for no reason

 

[Rubato]

Go head and investigate but that money gone

 

[LurkerSix]

Go head and investigate but that money gone

Bolt is a big deal in Jamaica, so if that money gone, they're bout to be gone too