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Millions of dollars disappear from Usain Bolt’s investment account!!......

Usain Bolt had J$2 billion in his account on October 31, 2022 while the amount became J$1.8 million on January 11, 2023.

By MADHAN KUMARPublished about a year ago 5 min read
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Usain Bolt's substantial investment at Stocks and Securities Limited (SSL) in Jamaica seems to be lost. Now, there are concerns that the Jamaican legend won't be able to retrieve the money.SSL has 10 days to pay the $12.7 million (J$2 billion) that the Jamaican sprinting champion claimed was in his account through October 2022. In a letter sent to SSL on January 16, Bolt's lawyer Linton Gordon threatened legal action if the money owed to Bolt was not returned within ten days.

Bolt had J$2 billion in his account on October 31, 2022 while the amount became J$1.8 million (S$12,000) on January 11, 2023. The eight-time Olympic gold winner’s investments are now being investigated by the Jamaican financial authorities. SSL, according to a statement from Jamaica's Financial Services Commission (FSC), has been under "enhanced oversight" while the investigation is being carried out.

The 100-metre world record holder, one of the greatest athletes of all time, has invested in the company for over 10 years, according to Bolt's manager Nugent Walker, who spoke to the Jamaica Gleaner newspaper. Now, Bolt’s entire portfolio is being reviewed, he said while mentioning that Bolt had earlier noticed discrepancies with his account. As per the FSC, it is "aware of reports of allegations of fraud" that SSL has been facing. "The FSC has issued Directions to SSL. These Directions which were dispatched to the company on Thursday January 12, 2023 are a supervisory tool to allow the FSC to engage an entity in a process of enhanced oversight," the FSC said in a statement.

As per Jamaica Observer, the size of the fraud necessitated the involvement of multiple people, and the authorities are investigating that possibility. Bolt opened the account in 2012 and never made a withdrawal. A source revealed to the publication that, although the employee suspected of being involved in the fraud was still working for the company as of January 11, SSL was aware of it since August.

An Expanded outro to the Bolt career:

Usain Bolt is a retired Jamaican sprinter who is widely considered to be one of the greatest sprinters of all time. He holds the world record in both the 100 meter and 200 meter races, and he is an eight-time Olympic gold medalist. Bolt began his career as a sprinter at a young age and quickly established himself as a rising star in the sport. He first gained global fame at the 2008 Beijing Olympics, where he won three gold medals and set world records in the 100 meter, 200 meter, and 4x100 meter relay races. He went on to win another three gold medals at the 2012 London Olympics, and three more at the 2016 Olympics in Rio de Janeiro.

Bolt has been the face of track and field and helped to popularize the sport. He is known for his charismatic personality, his "Lightning Bolt" celebration, and his dominance in the sport. He retired from the sport after the 2017 World Championships.

You can find many blogs and articles about Usain Bolt and his career, achievements and impact on the sport. Some famous sports website such as ESPN, BBC sport, CNN sport etc have dedicated sections for him where you can find all latest updates and news about him.

Usain Bolt is widely considered one of the greatest sprinters of all time. Some of his major achievements include:

World Records: He holds the world record in both the 100 meter and 200 meter races. He set the record in the 100 meter race at the 2008 Beijing Olympics with a time of 9.69 seconds, and in the 200 meter race at the 2009 World Championships with a time of 19.19 seconds.

Olympic gold medals: He has won eight Olympic gold medals throughout his career. He won three gold medals at the 2008 Beijing Olympics in the 100 meter, 200 meter, and 4x100 meter relay races, and three more gold medals at the 2012 London Olympics in the same events. He also won two gold medals at the 2016 Olympics in Rio de Janeiro in the 100 meter and 4x100 meter relay races.

World Championship titles: He has won 11 World Championship gold medals throughout his career. He won three gold medals at the 2009 World Championships in the 100 meter, 200 meter, and 4x100 meter relay races, and three more gold medals at the 2011 World Championships in the same events. He also won two gold medals at the 2013 World Championships in the 100 meter and 200 meter races and two more gold medals at the 2015 World Championships in the same events.

Other achievements: He is the first sprinter to win gold medals in the 100 meter, 200 meter, and 4x100 meter relay races in three consecutive Olympic Games. He is also the first sprinter to hold both the world and Olympic records in the 100 meter and 200 meter races. He has also won multiple awards and accolades such as IAAF World Athlete of the Year, Track and Field Athlete of the year, etc.

Popularity: He has been the face of track and field and helped to popularize the sport. He is known for his charismatic personality, his "Lightning Bolt" celebration, and his dominance in the sport. He is one of the most famous and popular sports personalities in the world.

Usain Bolt is a highly decorated athlete and has won numerous awards throughout his career. Some of his notable awards include:

IAAF World Athlete of the Year: He was awarded this honor in 2008, 2009, 2011, 2012, and 2013.

Laureus World Sportsman of the Year: He was awarded this honor in 2009, 2010, and 2017.

BBC Overseas Sports Personality of the Year: He was awarded this honor in 2008 and 2012.

ESPY Awards: He was awarded the Best Male Track and Field Athlete in 2009, 2010, 2012, 2013, and 2016 and Best International Athlete in 2009 and 2012.

Track and Field Athlete of the Year: He was awarded this honor by the International Association of Athletics Federations (IAAF) in 2008, 2009, 2011, 2012, and 2013

Jamaican Sportsman of the year: He was awarded this honor multiple times throughout his career.

Order of Jamaica: He was awarded the fifth-highest civilian honor in Jamaica in 2017,

RJR Sportsman of the year: He was awarded this honor multiple times throughout his career.

These are some of the major awards that Usain Bolt has won throughout his career. He has also been honored with numerous other awards and accolades for his achievements in the sport of track and field.

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MADHAN KUMAR

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