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A previous version of this report incorrectly identified Usain Bolt’s country of origin. He is Jamaican.
Did someone pull a fast one on Usain Bolt?
The legendary Jamaican sprinter is missing millions of dollars from his investment portfolio at Stocks and Securities Limited, or SSL, according to his manager, and an investigation has been launched to sort out what happened.
Bolt’s representative, Nugent Walker, reportedly told Jamaican media outlet the Gleaner this week that the country’s Financial Investigations Division and Financial Services Commission is probing SSL. “All the relevant steps have been taken to come to the bottom of this,” Walker said.
Bolt, an eight-time Olympic gold medalist, reportedly first noticed inconsistencies in his SSL accounts this past week.
“He’s been with this entity over 10 years. … His entire portfolio is being reviewed,” Walker said, adding that the case is ongoing.
According to the Gleaner report, a now-former SSL employee has been implicated in a fraud scheme and may have been linked to the reported issues surrounding Bolt’s investments. Attorney Tamika Harris, who is representing the former employee, was quoted as having said that her client has been talking with legal representatives of SSL for two weeks.
Representatives for Bolt and SSL did not respond to MarketWatch’s requests for comment on this story.
A spokesperson for Jamaica’s Financial Services Commission said in a statement that it had been made aware of a fraud allegation at SSL, according to a Fortune report. The commission reportedly said it had instructed SSL to engage in “a process of enhanced oversight,” meaning it must have “a full view of the integrity of the transactions being conducted, including the movement of funds and securities into and out of SSL.”
“The FSC will simultaneously continue its investigations into matters related to SSL,” they added.
Bolt has been widely considered the fastest man alive and one of the greatest track-and-field athletes of all time. He holds world records in the 100-meter, 200-meter and 4×100-meter relay. He retired from running professionally in 2017.
Bolt has been seen as a savvy businessman. He has lucrative sponsorships deals with companies such as Puma, Hublot and Gatorade; owns an eSports team; and has a nonfungible token, or NFT, deal with Tom Brady’s company Autograph. Bolt made $31 million in 2018 (the year after he retired), and $30 million of that came via off-the-track endeavors, according to Forbes.
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