Usain Bolt Missing $12.7M from Private Investment Firm Account, Attorneys Say

Adam WellsJanuary 19, 2023

LONDON, ENGLAND - JUNE 12: Usain Bolt of Team World XI reacts during the Soccer Aid for Unicef 2022 match between Team England and Team World XI at London Stadium on June 12, 2022 in London, England. (Photo by Alex Davidson/Getty Images)
Alex Davidson/Getty Images

Authorities in Jamaica are investigating a private investment firm that oversees a bank account owned by Usain Bolt that is allegedly missing $12.7 million.

Danica Coto of the Associated Press reported Linton P. Gordon, one of Bolt's attorneys, provided a copy of the letter sent to Stocks & Securities Limited demanding the money be returned.

Gordon noted the account previously had a balance of $12.8 million but is showing only $12,000.

"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," the letter says.

According to Coto, the letter was sent on the same day Jamaica's Financial Services Commission announced it was appointing a special auditor to look into allegations of fraud at Stocks & Securities Limited.

Per Coto, "The company has said that it discovered the fraud earlier this month and that several of its clients may be missing millions of dollars."

Stocks & Securities Limited must receive approval from the government for any transactions while financial authorities have assumed temporary management of the firm.

"It is tempting to doubt our financial institutions, but I would ask that we don't paint an entire hardworking industry with the brush of a few very dishonest individuals," Nigel Clarke, Jamaica's finance minister, said about the situation.

Bolt is one of the most decorated track and field athletes in Olympic history. He won eight career gold medals between 2008 and 2016. The Jamaican star holds individual world records in the men's 100 meters (9.58 seconds) and men's 200 meters (19.19 seconds) and a team world record in the men's 4x100 meters (36.84 seconds).

He retired from track and field competition after the 2017 World Championships in London.