Usain Bolt is currently making headlines for anything but sport after the former sprinter lost millions in his account within days.
The millions lost are reported to be his investment money in an alleged fraud incident. The retired sprinter has now lawyered up to take action against the Jamaican company, Stocks & Securities Limited.
Sprinter loses a total of 12 million
Bloomberg reports that Usain Bolt is now looking to sue the company with civil or criminal action. That is if the money is not returned within 8 days. Other publications note that the time period is ten days.
The total money lost is reported to be 12 million dollars which translates to R218 million. In a letter given to the organization, lawyers revealed that Usain Bolt now has a total of 12 000 dollars left in his account.
This savings is reportedly Bolt’s entire life savings and investment money following his retirement from sports.
Usain Bolt lawyers Up
In the letter to Stocks & Securities Limited, Usain Bolt’s lawyers are now demanding the sprinter’s money be given back. They further noted that if the state of his account is true, this would be an act of larceny.
They said, “If this is correct, and we are hoping it is not, then a serious act of fraud larceny or a combination of both has been committed against our client.”
Business Insider noted that Usain Bolt first noted that the money had been missing on the 11th of January.
Now, this is not the first time SSL has been involved in a fraud scandal. Right now, Jamaica’s insurance, pension, and security industries told Bloomberg that they have installed a temporary manager at SSL after previous reports of fraud.
The retired sprinter is currently one of the many celebrities that are involved in legal matters. Singer Shakira is now dealing with an alleged tax fraud issue in Spain.
Representatives for Usain Bolt have not shared any further information yet. This is a developing story.