Usain Bolt’s Lawyers Allege Sprinter Lost $12.7 Million From His Account In Fraud

The lawyers of Olympic runner Usain Bolt claimed on Wednesday that more than $12.7 million is missing from an account that he has with a private investment firm, with his lawyers demanding the firm return the money to him.

Attorney Linton P. Gordon, who currently represents Bolt, said that the company Stocks & Securities Limited had somehow lost $12.7 million of the sprinter's $12.8 million account with the company. Now reportedly only $12,000 is left in the account, according to the Associated Press.

Gordon said that this investment account was a combination of Bolt’s retirement and life savings from his career as an althelete and that if the allegations are true, “a serious act of fraud larceny or a combination of both have been committed against our client,” Bloomberg reported.

Stocks & Securities Limited is currently being investigated by Jamaica’s Financial Services Commission for fraud, and the firm recently had a new temporary manager installed at the company as well as a special auditor to look into the allegations. The company itself has not responded to comments about the fund.

Jamaican Finance Minister Nigel Clarke said that the allegations of fraud against the company have shown that clients may be missing millions of dollars from their accounts with the firm, but also noted that this was an unusual case for the country’s finance industry. “It is tempting to doubt our financial institutions, but I would ask that we don’t paint an entire hard-working industry with the brush of a few very dishonest individuals,” he said.

Bolt, an eight-time Olympic gold medalist who currently holds the world record for 100 meters, 200 meters, and 4x100 meters dash, will reportedly be taking the case to the Supreme Court in Kingston if the company does not respond to his lawyer’s query within eight days.

“It’s distressful news for anyone,” Gordon said. “And certainly in the case of Mr. Bolt, who established this account as part of his private pension.”