Sprint legend Usain Bolt continues to lament over $12.8M fraud case
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Reading Time: 2min | Tue. 14.01.25. | 14:38
In January 2023, Bolt discovered that a majority of his funds were missing from an account he held with Kingston-based investment firm Stocks and Securities Ltd (SSL)
Two years after the shocking revelation that sprint legend Usain Bolt was defrauded of $12.8 million (Ksh1.6 billion), the eight-time Olympic gold medalist continues his fight for justice.
Despite investigations and assurances of repayment, the Jamaican icon’s patience is running thin as he demands answers and restitution.
In January 2023, Bolt discovered that a majority of his funds were missing from an account he held with Kingston-based investment firm Stocks and Securities Ltd (SSL).
His balance, once $12.8 million, had mysteriously dwindled to a mere $12,000.
According to Bolt’s lawyer, Linton Gordon, the retired sprinter had made no withdrawals or transfers from the account.
When the news broke, Gordon wrote to SSL demanding the recovery of the missing funds, describing the depletion as "mysterious." Bolt also hinted at the possibility of legal action should the funds not be returned.
The Jamaica Constabulary Force’s Fraud Squad and the Financial Investigations Division took up the case, investigating allegations of fraudulent activities at SSL. The scandal affected not only Bolt but also other investors, casting a shadow over Jamaica’s financial sector.
In September 2024, SSL announced plans to repay over $30 million to more than 200 defrauded clients, including Bolt.
This came after the company narrowly avoided collapse following internal thefts by several employees.
The state regulator, the Financial Services Commission (FSC), mandated SSL to expedite the repayments. However, Bolt’s recent social media post suggests that these promises remain unfulfilled.
Bolt took to his social media platforms to express his frustration.
Accompanied by a Jamaican song lamenting sacrifices with no returns, the eleven-time world champion shared the exact amount he lost.
“Twelve Million, Seven Hundred Fifty-Eight Thousand, One Hundred Eighty-One dollars and Seventy-Four Cents,” he posted, playing a Jamaican song with the lyrics summarized as 'sacrificing all and getting nothing in return".
Despite the loss, Bolt remains a towering figure in athletics. He is celebrated for his record-breaking performances at the Beijing 2008, London 2012, and Rio 2016 Olympics. He still holds the 100m and 200m world records of 9.58 seconds and 19.19 seconds, set in Berlin in 2009.
He retired in but his influence transcends sports, making his financial ordeal a matter of public interest.
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