Usain Bolt fires business manager after his $12.7 million went missing in massive fraud case

Usain Bolt, the Jamaican sprinter, says he is perplexed as to how $12.7 million of his money went missing from a local private investment firm, which authorities are investigating as part of a massive fraud, glamsquad reports.


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Bolt told reporters on Friday, January 27, that he had fired his business manager, and that the split was not amicable.

When asked if he was “broke,” the former athlete laughed.

“I’m not broke, but it’s definitely dampened my spirits,” he said. “It was for my benefit. Everyone knows I have three children. I’m still concerned about my parents and want to live comfortably.”

According to Bolt’s attorneys, the athlete’s account with Kingston-based Stocks and Securities Limited has been reduced from nearly $12.8 million to around $12,000. They gave the company until Friday to return the funds or face civil and criminal charges.

According to attorney Linton P. Gordon, the public should be prepared for the “expected and unexpected” in the case.


“Given what is going on, there is nothing to say at this point,” he was quoted as saying. “We met with people and are dealing with certain issues.”

Jamaican Finance Minister Nigel Clarke announced earlier this week 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 claimed that the alleged fraud impacted several government agencies as well as elderly customers.


“It’s always a depressing situation. “Definitely disappointed,” Bolt said of the elderly victims. “Everyone is perplexed… “I’m as perplexed as the general public.”


Jamaican authorities have asked the FBI and other unidentified international experts for assistance, claiming that clients were given false statements about their balances as part of the alleged fraud. Officials have not yet stated how many clients were affected or how much money is missing.

Bolt mentioned the alleged fraud while speaking at a sponsored luncheon for an upcoming relay.


“As you are all aware. “I’ve had a tough week, a few tough weeks,” he admitted, adding that he would continue to do everything he could to help his island.

“Regardless of what’s going on right now, Jamaica is my country. That will not change,” he stated.

“I’m just trying to focus on my family and not think about it too much because it’s a difficult situation.”

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