$12.7m Jamaica fraud case: Olympic great Bolt fires business manager

VOICE AIR MEDIA News Update

Jamaican sprinter, Usain Bolt has expressed shock over how $12.7 million of his money went missing from a local private investment firm, that authorities are investigating as part of a massive fraud.

Speaking to reporters on January 27, Bolt said that he had sacked his business manager and added that the split was not amicable.

According to Bolt’s attorneys, his account with Kingston-based Stocks and Securities Limited dropped from around $12.8 million to just under $12,000. The corporation had been given until Friday to repay the funds, failing which they would take legal and criminal action.

The public should prepare for both the “expected and the unexpected” in this case, according to attorney Linton P. Gordon, who spoke to the Jamaica Observer newspaper.

“There is nothing to say at this stage, given what is happening, we have met with persons, and we are dealing with certain matters,” he was quoted as saying.

Earlier this week, Jamaican Finance Minister Nigel Clarke announced that the director of the Financial Services Commission was stepping down and that the Bank of Jamaica would now be in charge of regulating the island’s financial system.

He said that in addition to several government organizations, the suspected scam also impacted senior citizens.

The FBI and other unnamed foreign specialists have been asked for assistance by Jamaican officials, who have also claimed that consumers were provided incorrect information about their balances as part of the suspected scam. Officials have not yet disclosed the exact number of clients impacted or the amount of money lost.

Bolt mentioned the suspected scam while speaking at a luncheon sponsored for an upcoming relay.

“As you all know. I’ve been going through a tough week, a few tough weeks. No matter what’s going on right now, Jamaica is my country. That will never change. I’m just trying to focus on my family and trying not to think too much about it because it’s a difficult situation,”he said.