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Usain Bolt’s legal team alleges that the Olympic sprinter was the victim of a fraud operation that caused more than $12 million to disappear from his account.
The Jamaican sprinter recently learned that his retirement savings account, which he maintains with Kingston-based investment company Stocks and Securities Ltd., only shows a balance of $12,000, according to a letter the Associated Press obtained from Bolt’s attorney. The account had previously held $12.8 million.
“If this is correct, and we are hoping it is not, then a serious act of fraud larceny or a combination of both have been committed against our client,’’ Bolt’s attorneys said in the letter.
If the money is not returned within 10 days, Bolt’s attorneys are threatening both legal and criminal action. The company is being looked at by Jamaica’s Financial Services Commission, which has also temporarily taken control of the private investment company.
“We understand that clients are anxious to receive more information and assure you that we are closely monitoring the matter throughout all the required steps and will alert our clients of the resolution as soon as that information is available,’’ Stocks & Securities Limited wrote in a statement on its website.