NEW YORK, NY – MARCH 12: Track star and new Bolt pitchman Usain Bolt looks on during a press conference about the new Bolt Mobility scooter outside of New York City Hall, March 12, 2019 in New York City. Electric scooters are still not street-legal in New York City, but transportation advocates and lobbyists are encouraging the push toward legalization and regulation. Bolt, a Miami-based startup, joins a crowded field of competitors in the United States, including Bird Scooters, Lime Scooters and Lift Scooters. (Photo by Drew Angerer/Getty Images)
NEW YORK, NY – MARCH 12: Track star and new Bolt pitchman Usain Bolt looks on during a press conference about the new Bolt Mobility scooter outside of New York City Hall, March 12, 2019 in New York City. Electric scooters are still not street-legal in New York City, but transportation advocates and lobbyists are encouraging the push toward legalization and regulation. Bolt, a Miami-based startup, joins a crowded field of competitors in the United States, including Bird Scooters, Lime Scooters and Lift Scooters. (Photo by Drew Angerer/Getty Images)
NEW YORK, NY – MARCH 12: Track star and new Bolt pitchman Usain Bolt looks on during a press conference about the new Bolt Mobility scooter outside of New York City Hall, March 12, 2019 in New York City. Electric scooters are still not street-legal in New York City, but transportation advocates and lobbyists are encouraging the push toward legalization and regulation. Bolt, a Miami-based startup, joins a crowded field of competitors in the United States, including Bird Scooters, Lime Scooters and Lift Scooters. (Photo by Drew Angerer/Getty Images)
NEW YORK, NY – MARCH 12: Track star and new Bolt pitchman Usain Bolt looks on during a press conference about the new Bolt Mobility scooter outside of New York City Hall, March 12, 2019 in New York City. Electric scooters are still not street-legal in New York City, but transportation advocates and lobbyists are encouraging the push toward legalization and regulation. Bolt, a Miami-based startup, joins a crowded field of competitors in the United States, including Bird Scooters, Lime Scooters and Lift Scooters. (Photo by Drew Angerer/Getty Images)
On January 16, news of Usain Bolt losing $12.7 million of his savings in a financial scam rocked the sports world. Over a week has passed since the incident, and an investigation has revealed more disturbing news about the fraud case. Bolt’s lawyers contacted the private investment firm where he had invested the money for comment and threatened legal action. However, the investment firm, Stocks & Securities Limited, failed to track the perpetrators. On Friday, Bolt told reporters he had taken a massive step against his business manager.
Despite the involvement of the FBI, the investigation into the massive fraud is yet to yield any results. According to news outlets like The Gleaner, over 40 SSL clients besides Bolt also lost money in the scam. The athletics legend told reporters about his bafflement at losing $12.7 million of his hard-earned savings. He also revealed more details about his current financial state.
Usain Bolt has fired his business manager
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While speaking to reporters on Friday, Usain Bolt revealed that he had fired his business manager. He said the split between him and the former manager was not amicable. After the sprinter’s statement, reporters asked if the Olympic legend was “broke.” The eight-time Olympic Gold medalist’s response was to laugh.
Read More | After Usain Bolt’s $12,700,000 Loss, Former SSL Employee Admits to Theft Due to a Saddening Reason
However, he also shared the theft had put a dent in his finances. “I’m not broke, but it’s definitely put a damper on me. It ($12.7 million) was for my future. Everybody knows I have three kids. I’m still looking out for my parents.” Bolt told reporters on Friday, according to The Guardian.
via Getty
RIO DE JANEIRO, BRAZIL – AUGUST 18: Usain Bolt of Jamaica celebrates after he wins Gold in the final of the Men’s 200m on Day 13 of the Rio 2016 Olympic Games at the Olympic Stadium on August 18, 2016 in Rio de Janeiro, Brazil. (Photo by Ian MacNicol/Getty Images)
While the perpetrators remain free, the investigation has shaken the entire nation. A few days after the fraud, the head of Jamaica’s Financial Services Commission resigned. On January 23, while announcing the FBI’s involvement, Financial Minister Dr. Nigel Clarke said, “This is a body blow to Jamaica and has the unfortunate impact of tarnishing Jamaica’s global reputation.”
Does anyone have a clue?
Earlier, Jamaican attorney Linton P Gordon told The Jamaican Observer the public should “expect the unexpected.” However, Gordon also said the investigation is ongoing, and he couldn’t say anything more. Many elderly also lost money in the SSL fraud. “Definitely disappointed… Everybody’s confused… I’m as confused as the public.” said Bolt about the situation.
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Earned..Not Given. pic.twitter.com/74qgiHyCaL
— Usain St. Leo Bolt (@usainbolt) January 21, 2023
However, the legendary sprinter also said he is focused on spending time with his family. Despite the confusion, Bolt pledged to stand by his country and its people.
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Watch This Story | Undisputed GOAT Usain Bolt Reads Jamaican Law Amidst $12.7 Million Loss
What do you think about Bolt’s decision to fire his business manager? Let us know in the comments.
