Usain Bolt threatens to sue Jamaica private investment firm after £10m life savings vanish
Usain Bolt has threatened to sue a private investment firm in Jamaica after more than £10M vanished from his life savings
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Usain Bolt is threatening to sue a private investment firm in Jamaica after more than £10 million disappeared from his life savings. Bolt’s account has reportedly been left with just £9,700.
Lawyers for the eight-time Olympic gold medalist claim the discovery was made earlier this month (January 2023), after Bolt checked his account finding most of his life savings had vanished in what his lawyers have described as a potential act of fraud.
The 36-year old athlete was a breakout sensation at the 2008 Beijing Olympic games taking gold at both the 100-metre and 200-metre sprints. Bolt went on to lead his team to gold once again in the 100-metre relay, later removed after one of his teammates tested positive for a banned substance.
During his career, the now retired sprinter, who could earn up to £20 million per season, has given the Jamaican investment firm 10 days to return the money before he takes action.
Linton P Gordon, a lawyer for Bolt, said: “The account was part of Bolt’s retirement and lifetime savings.” They added: “If this is correct, and we are hoping it is not, then a serious act of fraud, larceny or a combination of both have been committed against our client.”
It’s been reported that Bolt is not the only client to have reported missing funds, there are apparently a number of clients to have made a similar claim against Stocks & Securities Limited. The Kingston firm has said Jamaica’s Financial Services Commission is investigating, and finance minister Nigel Clark has called the case alarming.