Sports

Bolt falls prey to investment fraud, loses $12.7m

Usain Bolt's account was intended to serve as a pension for the eight-time Olympic gold medalist sprinter and for his parents.

Sentinel Digital Desk

NEW DELHI: Olympic champion Usain Bolt is seeking to recover more than $12.7 million that disappeared from his account with a Jamaican investment firm and is willing to take the case to court if necessary, Bolt's attorney said. Bolt last week was informed that his account balance at Kingston-based Stocks and Securities Ltd (SSL) had inexplicably dwindled to just $12,000, lawyer Linton Gordon told Reuters late on Tuesday.

"We will be going to court with the matter" if the company does not return the funds, Gordon said.

"It is a grave disappointment, and we are hoping that the matter will be resolved in a way that Mr. Bolt will recover his money and be able to live in peace."

SSL said in a January 12 statement that it had become aware of fraudulent activity by a former employee and has referred the matter to law enforcement, adding that it had taken steps to secure assets and strengthen protocols.

Bolt's account was intended to serve as a pension for the eight-time Olympic gold medalist sprinter and for his parents, Gordon said.

Bolt retired in 2017 after dominating global sprinting for a decade.

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