A lawyer representing Usain Bolt has said that the eight-time Olympic gold medallist has lost £10 million ($12m) from his account with a private investment firm in Jamaica.
Linton P Gordon, a lawyer for Bolt, has claimed that the Jamaican’s account once had $12.8 million (£10m), but now reflects a balance of only $12,000 (£9,700), money that was supposed to fund his retirement.
Gordon sent a letter to Stocks & Securities Limited on Monday (January 16) and later a copy to the Associated Press which states that if the money is not returned within 10 days, the company will face civil and criminal action.
In the letter, Gordon said: “If [the new balance] 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.”
Stocks & Securities Limited have asked that clients pass all questions on to Jamaica’s Financial Services Commission as it continues its investigation into the firm.
Via a statement on their website, the company said: “We understand that clients are anxious to receive more information and assure you that we are closely monitoring the matter throughout all the required steps and will alert our clients of the resolution as soon as that information is available.”
Jamaica’s finance minister Nigel Clarke has said that the situation over Bolt’s money is alarming.
“It is tempting to doubt our financial institutions, but I would ask that we don’t paint an entire hard-working industry with the brush of a few very dishonest individuals,” he said.
Givemesport
