$12.7 Million Reportedly Missing From Usain Bolt’s Account; $12,000 Remaining

Usain Bolt’s lawyers have disclosed that more than $12.7 million is missing from his account with a private investment company in Jamaica that law enforcement is looking into.

The Associated Press obtained a copy of a letter issued to Stocks & Securities Limited requesting the money’s return from attorney Linton P. Gordon.

Gordon claimed that Bolt’s account formerly showed a balance of $12.8 million but now only shows a balance of $12,000.

Bolt’s lawyers write in the letter, “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.”

A request for comments was not immediately answered by Stocks & Securities Limited. The business, on its website, requested that customers submit any urgent inquiries to the Jamaican Financial Services Commission, which is looking into the business.

“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,” the company said.

The business has stated that several of its clients may be missing millions of dollars and that it detected the theft earlier this month.

Nigel Clarke, the finance minister for Jamaica, described the situation as alarming but added that it was unusual.

“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.

Bolt’s attorneys submitted the letter on Monday, the same day that Jamaica’s Financial Services Commission announced it had appointed a special auditor to investigate into fraud charges at Stocks & Securities Limited, which is situated in Kingston.

Financial regulators said on Tuesday that they would take over the temporary operation of the private investment company. Although it is permitted to continue operating, any transactions require government authorization.

Bolt, who retired in 2017, holds the 100-meter, 200-meter, and 4×100-meter world records. Celebrity Net Worth estimates that he has a net worth of $90 million.

According to Sportskeeda, the six-foot-four sprinter was estimated to make over $31 million annually during the height of his career in 2015 and 2016.

Bolt, who is the PUMA brand ambassador, received almost $10 million in bonuses every year when he was competing. The sportswear company continues to reward the 36-year-old for wearing its clothing even though he retired five years ago; they pay him roughly $4 million annually.