Has Usain Bolt lost MILLIONS from his accounts? CFOs in Jamaica are investigating a “multimillion-dollar discrepancy” at the investment management firm of what was once the world’s fastest man, which once brought in £27million a year
- Usain Bolt invested millions in a Jamaican private wealth management company
- His portfolio is reviewed after he finds discrepancies in his account
- Financial authorities in Jamaica said they were investigating allegations of fraud
A company that manages investments for sprinting legend Usain Bolt is now under investigation after reports he may have lost millions of pounds to fraud.
Bolt is believed to have a net worth in the region of £70million after a career that has widely regarded him as one of the greatest sportsmen of all time.
He was making tens of millions a year in his prime, with Forbes revealing that he had netted over £25million in the 12 months leading up to his last Olympics in 2016.
Usain Bolt, pictured in a private jet, is estimated to have a net worth of around £70million
Financial authorities in Jamaica have now said they are investigating allegations of fraud at Stocks & Securities Ltd, a private wealth management company based in the capital, Kingston, Jamaica.
A report in the Jamaica Gleaner quoted Bolt’s manager, Nugent Walker, as saying that Bolt has been investing in the company for more than a decade and that his entire portfolio is being reviewed after finding inconsistencies in his account.
Jamaica’s Financial Services Commission (FSC) has now placed the company under “enhanced supervision” following the allegations.
A company that handles investments for the Olympic size is now being investigated
The Gleaner report claims millions of dollars were missing from the account.
The FSC said it was “aware of reports of allegations of fraud” and that the oversight process would allow it to monitor the movement of funds and securities in and out of the mutual fund.
“The FSC will simultaneously continue its investigations into SSL-related matters,” he added.
SSL has hinted that a former employee was behind the alleged fraud, adding that he had “escalated the matter to the appropriate law enforcement authorities”.
Bolt was reportedly making over £25million a year at the height of his running career