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regular-article-logo Tuesday, 07 May 2024

Usain Bolt fires business manager over Jamaica fraud case

Bolt’s attorneys say athlete’s account with Kingston-based Stocks and Securities Limited dwindled from nearly $12.8 million to some $12,000

AP/PTI San Juan (Puerto Rico) Published 29.01.23, 05:20 AM
Usain Bolt.

Usain Bolt. File picture

Jamaican sprinter Usain Bolt told reporters on Friday that he is baffled over how $12.7 million of his money has gone missing from a local private investment firm that authorities are investigating as part of a massive fraud that began more than a decade ago.

Bolt also said he has fired his business manager, adding that it was not an amicable split.

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When asked if he was “broke,” the retired star athlete laughed. “I’m not broke, but it’s definitely put a damper on me,” he said. “It was for my future. Everybody knows I have three kids. I’m still looking out for my parents, and I still want to live very well.”

Bolt’s attorneys have said the athlete’s account with Kingston-based Stocks and Securities Limited dwindled from nearly $12.8 million to some $12,000. They had given the company until Friday to return the money or face civil and criminal action.

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.

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