Usain Bolt dismisses his business manager after a big fraud case involving $12.7 million was up missing
Usain Bolt, a Jamaican sprinter, has expressed disbelief over the disappearance of$12.7 million of his funds from a local private investment firm, which authorities are looking into as part of a major fraud.
On January 27, Bolt told reporters that he had fired his business manager and indicated that the breakup had not been friendly.
Bolt's attorneys claim that Stocks and Securities Limited, situated in Kingston, saw a decline in Bolt's account from approximately $12.8 million to little under $12,000. A deadline of Friday had been set for the corporation to return the money, beyond which they would take legal and criminal action.
Attorney Linton P. Gordon told the Jamaica Observer newspaper that the public should be ready for both the "expected and the unexpected" in this case.
He was cited as adding, "There is nothing to say at this stage, considering what is happening, we have met with people, and we are dealing with certain problems."
The Bank of Jamaica will now be in charge of overseeing the island's financial industry, Jamaican Finance Minister Nigel Clarke revealed earlier this week. The Financial Services Commission's director is resigning.
He claimed that in addition to many government agencies, older persons were also affected by the alleged scam.
Jamaican officials have also claimed that customers were given inaccurate information regarding their balances as part of the suspected scam, and have requested the FBI and other unknown foreign experts for help. The precise number of clients affected or the amount of money lost have not yet been made public by officials.
During his speech at a luncheon sponsored for an upcoming relay, Bolt brought up the alleged swindle.
As you are all aware. I've had a difficult week and a few difficult weeks. Whatever is happening right now, Jamaica is still my country. That won't ever alter. It's a difficult situation, so I'm just trying to concentrate on my family and try not to think about it too much," he said.