The legendary sprinter known as the Fastest Man Alive, Usain Bolt, has run into an unforeseen financial difficulty. The Olympic icon, who retired in 2017, was the fastest person in the world and the highest-paid track and field athlete ever. Bolt earned between $20 and $30 million a year during his stellar career, which contributed to his astounding net worth, according to Celebrity Net Worth. Due to his enormous success on and off the track, his net worth reached an incredible $90 million at its height.

But in 2022, Bolt found that his bank account with Jamaican private investment business Stocks and Securities Limited (SSL) had lost a significant amount of money—more than $12.7 million. The sprinter’s disclosure rattled the Jamaican banking industry as a whole, prompting the FBI to officially launch an investigation into the multimillion-dollar fraud operation. Another update was shared by Bolt as the case completed one year.

Usain Bolt shares follow-up update on huge financial loss

Bolt and over thirty other victims were enmeshed in the scandal that left SSL with an estimated $3 billion in total purported fraud and just $1 million in insurance coverage for the assets it oversaw. On January 16 2022, Bolt’s lawyer, Linton Gordon, sent a scathing letter to SSL threatening to take legal action if his client’s money was not returned in ten days. Sharing a video on Instagram recently, Bolt said, “So it’s been one year now,” adding, “still have a fight to fight.”

Bolt was left with just $12,000 after opening the account in 2012 with the goal of supporting himself and his parents. The case became more intricate when a suspect admitted to the scam and gave investigators a list of the victims. Remarkably, Bolt’s name was omitted, and a former CEO of SSL said that the business was ignorant of the sprinter’s customer status.

In addition to affecting Bolt and other investors, the fraud scandal’s aftermath damaged confidence in Jamaican financial institutions. On the other hand, the Financial Services Commission (FSC) came under heavy fire for its regulatory supervision, which might have made the SSL scheme possible. What followed next was a series of events, however, till date Bolt’s money remains far from his reach.

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The aftermath of national treasure’s loss

Everton McFarlane, the executive director of the FSC, resigned on January 19 in light of the events. Clarke reaffirmed the government’s commitment to preserving the stability and reputation of Jamaica’s banking industry, even as he expressed his displeasure at the disclosed scam. Bolt is persistent despite the financial setback, he also fired his business manager, making it clear that they were not on good terms.

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In an interview with the Guardian last year, he said, “I’m not broke, but it’s definitely put a damper on me.” Bolt’s financial tension serves as a reminder that even the fastest man on the track can encounter unforeseen obstacles in the race of life, as the investigation proceeds and the financial industry deals with the fallout.

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