African Gists

Usain bolt loses $12 million life savings to fra¥dsters – Instablog9ja

Jamaica’s Olympic sprinting icon, Usain Bolt has lost millions of dollars in his account with Stocks and Securities Ltd, an investment company based in Kingston.

The lawyers of the track star said they are prepared to file a lawsuit if that will make it possible to recover the more than $12 million that mysteriously disappeared from Bolt’s account.

According to Linton Gordon, Bolt’s lawyer, the money is missing from his account in the coffers of Stocks and Securities Limited (SSL), a Jamaican investment firm. The lawyer also provided The Associated Press with a copy of a letter sent to SSL demanding that the money must be returned. Gordon was quoted to have said that Bolt’s account, which earlier had $12.8 million, is now reflecting a balance of $12,000.

Bolt is said to have had investments with SSL for over a decade. It was gathered that the account includes a part of the athlete’s retirement and life savings. The Associated Press reported that Mr Bolt’s account with the company was created to act as a pension for both of his parents and the eight-time Olympic gold medal-winning sprinter.

Gordon added that the Jamaican authorities had been informed about the development, while SSL could be taken to court if discrepancies are not resolved.

“It’s distressing news for anyone, and certainly in the case of Mr Bolt, who established this account as part of his private pension. We will be going to court with the matter if the funds are not returned. 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.”