Ex-Jamaican athlete, Bolt, loses $12m to fraudsters


Former 100m and 200m world champion, Usain Bolt, has lost the sum of $12 million in his account with an investment company, Stocks and Security Limited, to hackers.

The Jamaican who has retired from the sport that brought him glory reportedly have the sum as a pension for both of his parents and the eight-time Olympic gold medal-winning sprinter.

The startling revelation on Thursday has prompted Bolt’s legal team to seek a suit against the company in a bid to recover the money.

A statement from Bolt’s lawyers read: “The account was part of Bolt’s retirement and lifetime savings.

“It’s distressing news for anyone, and certainly in the case of Mr Bolt, who established this account as part of his private pension,” Gordon said on Wednesday.

“We will be going to court with the matter” if the company does not return the funds,” his lawyer, Linton P. Gordon, told Fortune magazine over the phone.

“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,” he added.

Stocks and Securities Ltd said in a statement on January 12 that it learned of the fraudulent activity by a former employee and had alerted law enforcement to the situation.

The company said that it had taken measures to secure customers’ assets and tighten protocols.

Jamaica’s Finance Minister Nigel Clarke claimed that SSL had committed “alarming and evil fraud” and promised to “bring all perpetrators to justice.”

Aside his sporting career, Bolt also secured some endorsement deals during his active days in Athletics.

Interestingly, there are emerging talents in the sport since the retirement of Bolt.

Recently, he congratulated Nigeria’s Tobiloba Amusan who made history with a new world record by winning gold at the 2022 World Athletics Championship in July and the Commonwealth Games.