Jamaican authorities are investigating a company that holds funds invested by sprinting legend Usain Bolt, which media reports may have lost millions of dollars in a massive scam.
Jamaica’s Financial Services Commission (FSC) said Thursday it had placed Stocks and Securities Limited (SSL) under “enhanced scrutiny” pending investigation.
Nugent Walker, Usain Bolt’s manager, told Jamaica Gleaner that the retired Jamaican sprinter invested money in the company about a decade ago.
“Every measure has been taken to find out the ending of this story,” he said, adding that the eight-time Olympic champion found anomalies in his account on Wednesday.
“His entire portfolio (of investments, ed.) is under review,” added Mr. Walker.
According to the newspaper, millions of dollars are missing.
Nugent Walker was not immediately available for comment. Contacted, the SSL company did not respond on Friday.
The FSC said it was aware of “fraud allegations” related to SSL.
It said in a statement that it had issued “directives” to the company allowing it to put in place an “enhanced monitoring process”.
This process enables the FSC to monitor transactions made, including the movement of funds and securities into and out of SSL.
The FSC added that it would continue to “investigate” the company in parallel.
Usain Bolt retired in 2017 after a decade of undisputed dominance in the men’s sprint.
Notably, he won eight Olympic gold medals during his career.
The former sprint king still holds the world records in the 100 and 200 meters.