World-famous Jamaican ace sprinter Usain Bolt is reportedly caught up in a massive money fraud controversy. Allegedly losing around $12.7 million, the legendary sprinter lost his substantial investment at Stocks and Securities Limited (SSL). With concerns that the Olympian would not be unable to retrieve the money, Bolt’s lawyer provided a statement to the Associated Press.

Alleging that the sprinter has lost more than $9,998,000, the case is getting more complicated. Sending a copy of the statement to the concerned firm, Linton P Gordon, a lawyer for Bolt, shared an update on the case’s proceeding so far.

Lawyer shares update on the whole matter concerning Usain Bolt

Speaking with Reuters earlier on Tuesday, Gordon remarked, “we will be going to court with the matter.” If the company does not return the fund in the estimated time frame, Bolt’s lawyer will henceforth fight a legal battle. For the unversed, SSL has ten days to pay the $12.7 million that Bolt had claimed to be in his account. Though Bolt is yet to issue his statement, earlier on January 16, he did share a cryptic tweet.

Sharing thoughts on the same, Gordon remarked, “If this is correct, and we are hoping it is not, then a serious act of fraud, larceny, or a combination of both has been committed against our client.” SSL did not immediately respond to a request for comment. But later on the website, they did post a message for all their clients, requesting to direct all their queries to Jamaica’s Financial Services Commission. As of now, it is the nodal agency that is investigating the firm.

Read More: After $9,998,000 Loss, Usain Bolt Left With Bizarre 4-Digit Amount in His Account

The message posted read, “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 company has informed that the alleged fraud was detected earlier this month. Bolt, along with many other clients, may perhaps be missing millions of dollars. As the investigation is underway, more updates on the case are expected.

The situation is alarming

Commenting on the whole matter Finance Minister Nigel Clarke on Tuesday described the situation as “alarming and evil fraud.” Understanding people’s concerns, Clarke referred to how the case could tempt people to doubt financial institutions. However, he urged the people not to lose their faith. He advised not to “paint an entire hard-working industry with the brush of a few very dishonest individuals.”

Assuring people, he remarked that the authorities would bring all perpetrators to justice. Considered one of the greatest athletes of all time, Bolt retired back in 2017. His account at SSL was intended to serve as a pension for him and his aged parents. Now, with the unexpected situation, the eyes are on the investigation.

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