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Usain Bolt's Missing $12.7M to Be Investigated by FBI as Part of Fraud Case

Rob Goldberg@@TheRobGoldbergFeatured Columnist IVJanuary 24, 2023

MANCHESTER, ENGLAND - SEPTEMBER 04: Usain Bolt after Soccer Aid for Unicef 2021 at Etihad Stadium on September 04, 2021 in Manchester, England. (Photo by Tom Flathers/Manchester City FC via Getty Images)
Tom Flathers/Manchester City FC via Getty Images

The FBI is now investigating alleged fraud that targeted Usain Bolt, multiple government agencies in Jamaica and more, according to Danico Coto of the Associated Press.

Lawyers for Bolt previously said an investment account in the former sprinter's name went from having a balance of $12.8 million to just $12,000, per Coto.

"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 Stocks & Securities Limited, the investment company under investigation.

Jamaican Finance Minister Nigel Clarke said Monday the government asked multiple international partners for help on the case, including the FBI:

"The anger and unease we all feel have been magnified by the long duration — 13 years — over which the fraud was allegedly perpetrated, and the fact that the (suspects) seemed to have deliberately and heartlessly targeted elderly persons, as well as our much loved and respected national icon … Usain Bolt."

It's not yet clear how much total money was allegedly stolen.

Bolt is the most prominent reported victim as one of the most decorated Olympians ever. The track and field star won eight Olympic gold medals from 2008 to 2016, including winning the 100-meter dash in three straight Games.

The 36-year-old retired from competition in 2017.

The National Health Fund, Jamaica's Agricultural Society and the National Housing Trust are all said to have been victims of fraud after investing significant money in Stocks and Securities Limited.

The company was also accused of targeting elderly clients.

Clarke remains confident authorities will get to the bottom of the case.

"They will unearth exactly how funds were allegedly stolen, who benefitted from such theft and who organized and collaborated in this," he said.