Athletics: Sprinting great Bolt says ‘stressful situation’ trying to recover lost millions
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Usain Bolt earlier this month was informed that his account balance at Kingston-based Stocks and Securities Ltd had inexplicably dwindled to just $12,000.
PHOTO: AFP
KINGSTON – World 100 and 200 metres record holder Usain Bolt said on Friday that it was a “stressful situation” trying to recover more than US$12.7 million (S$16.7 million)
The 36-year-old earlier in January was informed that his account balance at Kingston-based Stocks and Securities Ltd (SSL) had inexplicably dwindled to just US$12,000, lawyer Linton Gordon told Reuters on Jan 17.
“It’s tough you know, but I think through the years I’ve competed it has helped me to understand and focus on what matters,” he told reporters on Friday.
Bolt was speaking at the Gibson McCook Relays launch in Kingston, where he was unveiled as the ambassador of the athletics meet, now in its 50th year.
“I will leave the matter in my lawyer’s hands and focus on my family, try not to think too much about it because it’s a stressful situation,” the 11-gold world champion added.
SSL said in a Jan 12 statement that it had become aware of fraudulent activity by a former employee and had referred the matter to law enforcement, adding it had taken steps to secure assets and strengthen protocols.
One of Jamaica’s top dance hall artists, Gage, quickly released a song “SSL”, whose chorus repeatedly asks “Where’s the money gone?” in Jamaican patois.
The Jamaica Constabulary Force said its fraud and financial investigation teams were probing “alleged fraudulent activities at (SSL) which are said to have affected the accounts of Mr Usain Bolt, among other individuals”.
Bolt’s account was intended to serve as a pension for the eight-gold Olympic champion and for his parents, Gordon said.
Bolt retired in 2017 after dominating global sprinting for a decade, reviving a sport plagued by doping scandals and becoming a household name like Brazilian football legend Pele and American boxing great Muhammad Ali.
While his popularity is enormous in Jamaica, some, like two-time Grammy nominated reggae singer Etana, wonder if his lack of connections with the elite left him exposed.
Etana said that the case was “embarrassing for the nation,” and said her attitude to investment would take into account the affair and the lessons she has drawn from it about Jamaica’s class system.
“Bolt is ‘new money.’ He was merely trying to fit in when he should have just joined up with the wealthy and connected, then no one would have touched his money,” she said.
“I would only invest in Jamaica if I could do so in partnership with a member of the aristocrats, and the moneyed class, no would dare mess with their money,” she added.
Bolt has said little about the details of the case – only that the affair will not lead him to abandon his homeland.
“I just want to say to Jamaica that no matter what’s going on right now, Jamaica is my country and it will never change. I will always love my country and always do everything in my power to uplift this country no matter what’s going on,” he said. REUTERS, AFP
