Videos by OutKick
Usain Bolt reportedly had $12.8 million sitting in a private investment bank account, but now he’s alleging the balance sits at just $12,000 after a “serious act of fraud.”
“If this is correct, and we are hoping it is not, then a serious act of fraud larceny or a combination of both have been committed against our client,” Bolt’s attorneys said in a letter to The Associated Press.
Bolt established the private account as part of his private pension, according to his lawyer.
The world-record sprinter hasn’t directly commented about the situation, but did share this cryptic tweet on Monday.
Jamaica’s Financial Services Commission is looking into Stocks & Securities Limited, which is the firm in question.
Lawyers have threatened both civil and criminal action if the money is not returned in the next 10 days.
Nugent Walker, Bolt’s manager, told a local newspaper that the sprinter has invested with Stocks & Securities Limited for over 10 years.
Bolt is among the more than 30 investors whose funds were allegedly stolen.
Financial authorities have taken temporary management over Stocks & Securities Limited but will need approval from the government for any transactions.
“We understand that clients are anxious to receive more information and assure you that we are closely monitoring the matter throughout all the required steps and will alert our clients of the resolution as soon as that information is available,” the commission said.
Bolt, who retired in 2017, holds the world records for the 100- and 200-meter.