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World Cup

19th Jan 2023

Usain Bolt missing $12.7m from account in alleged scam

Callum Boyle

Bolt is allegedly at the centre of a scam.

Usain Bolt’s lawyers have revealed that more than $12m is missing from a bank account in Jamaica, leaving him with a a balance of just $12,000.

An investigation has been launched into where the missing funds Bolt stored in a private investment firm in Kingston have gone.

Attorney Linton P Gordon provided, via The Associated Press, a copy of a letter sent to Stocks & Securities Limited demanding that the money be returned.

They have also threatened to take criminal action if the money is not returned to the account within 10 days.


Stocks & Securities Limited initially didn’t respond to a request to comment but on their website, state that all clients should direct all urgent queries to Jamaica’s Financial Services Commission, which is investigating the firm.

The company said: “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.”

The private investment company said that they had detected alleged fraud earlier this month and that multiple clients could be missing millions of dollars.

Usain Bolt

Nigel Clarke, Jamaica’s financial minister, has described the situation as ‘alarming’.

He said: “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.”

The former sprinter’s lawyers sent their letter on Monday – the same day that Jamaica’s Financial Services Commission confirmed they would be hiring a special auditor to look into fraud allegations Stocks & Securities Limited.

Bolt, 36, retired from athletics in 2017 holds the world records for the 100 meters, 200 meters and 4×100 meters. He is estimated to be worth $90million, according to Celebrity Net Worth.