Olympic Legend Usain Bolt Loses $12 Million In Financial Scam: Report

Bolt's legal representatives have said at least $12 million has disappeared from his account.

Usain Bolt

Source : AFP

Sprinting legend Usain Bolt, the Jamaican who still holds the record for being the fastest man on Earth long after he has retired from professional sport, has reportedly lost millions of dollars which he had in his account with an investment firm.

Bolt's legal representatives have said at least $12 million has disappeared from his account with a Jamaican investment company Stocks and Securities Ltd. They have added that the matter will be taken to court now as only $12,000 remains in his account, leaving the legendary athelete on the verge of being bankrupt.

The amount lost was Bolt's retirement and lifetime savings

This is a major setback for Bolt who has broken records for fun during his time as a professional athlete. From London Olympics to Beijing, the Jamaican has found a way to ace in each one of them, finishing with an incredible 8 Olympic Gold Medals. However, he has now reportedly been a victim of this major financial scam.

"The account was part of Bolt's retirement and lifetime savings," his lawyer, Linton P Gordon, told Fortune magazine over the phone.

"It's distressing news for anyone, and certainly in the case of Mr. Bolt, who established this account as part of his private pension," Gordon said on Wednesday.

"We will be going to court with the matter if the company does not return the funds," Gordon said.

"It is a grave disappointment, and we are hoping that the matter will be resolved in a way that Mr. Bolt will recover his money and be able to live in peace," he added.

It is pertinent to note that the Kingston-based Stocks and Securities Ltd (SSL) had said in a statment released last week that it had become awarer of a fraudulent activity by an ex-employee and has escalated the matter to a law enforcement agency. It added that steps were taken to secure assets and strengthen protocols.

Bolt's account which has been a victim of this fraud was set to serve his and his parents pension.