Usain Bolt ‘frustrated’ at lack of progress into his $12 million fraud case

Legendary sprinter Usain Bolt is reportedly frustrated at the lack of progress that authorities have made in pursuing the fraud(s) who scammed the Jamaican out of $12.7 million (£10 million/€11.7 million).

The retired Jamaican athlete became the victim of a massive scam, seeing the $12.7 million (£10 million/€11.7 million) he had in an investment company reduced to $12,000 (£9,500/€11,000) in just over two months at the end of 2022.

Bolt's lawyers had given whoever stole the money a 10-day window to return it. Despite this, the money did not return and Bolt was forced to try and take action.

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The question is, where exactly has Bolt's money gone? At the moment, neither he nor the FBI knows. Yes, it's become a federal issue due to the enormity of the theft.

The FBI is investigating the events together with the Jamaican government, headed by the Minister of Finance, Nigel Clarke, who has apologized to those affected by the fraud and requested international assistance.

Despite this, the authorities have yet to close in any concrete leads in the case after more than a year of investigating, leaving the retired athlete "frustrated" and "disappointed", according to his lawyer Linton Gordon.

"We haven’t had one iota of information regarding the outcome of those investigations. So, we don’t know who took the money; who we can turn to because everything is now undercover," Gordon told the Jamaica Gleaner.

"He’s very frustrated and disappointed. He’s simply shocked and disappointed to know a country he has put on the map, and he put his money in an institution here, that he has lost it or he can’t get it back," Gordon said.

The money he lost, held by a company known as 'Stocks and Securities Limited (SSL)', is obviously a huge blow to the former Olympian. Speaking to the Jamaican Observer, the sprinter said he was "not ruined, but he was hit" after losing a significant part of his assets.

"The losses have hit me. Everyone knows that I have three children and that I take care of my parents," Bolt acknowledged in the Jamaican Observer.

In addition, Bolt affirms that part of that money was going to be destined to go towards social work in Jamaica, since the athlete has always been very committed to all kinds of issues within his country.

Photo: Instagram - @usainbolt

"It is sad, because I have lost what I have worked hard for. But no matter what is happening, I love my country and I will always love it. I will do everything in my power to help," said the athlete.

Bolt left a clear message on social networks. "In a world of lies, where is the truth? The Evil of History. What is the root? Money".

Photo: Instagram - @usainbolt

In addition to Bolt, Nigel Clarke has reported that there are about 40 people more affected in the SSL fraud.

The amount of the fraud currently totals $3 billion (£2.35 billion/€2.75 billion), making Bolt's $12 million (£9.5 million/€11 million) seem anecdotal in comparison.

According to Forbes magazine, Bolt had amassed over $100 million (£78 million/€91 million) in assets before these events occurred.

So despite the financial setback, the former Jamaican athlete should still have around $90 million (£70 million/€82 million) in assets remaining.

Though the FBI and the Jamaican government do not appear to be any closer to tracking the lost funds, Bolt, who has just launched his own line of Puma sneakers – has plenty of irons in the fire to ensure he doesn't end up destitute.

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