Monday, June 16, 2025
  • Who’sWho Africa AWARDS
  • About Time Africa Magazine
  • Contact Us
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
No Result
View All Result
  • Home
  • WHO’SWHO AWARDS
  • News
  • Magazine
  • World News

Home » Featured » Usain Bolt loses $12.7m in investment fraud

Usain Bolt loses $12.7m in investment fraud

January 21, 2023
in Featured, Sports
0
540
SHARES
4.5k
VIEWS
Share on FacebookShare on Twitter

Usain Bolt threatens to sue a private investment firm in Jamaica after more than £10million vanished from his account containing his life savings – with the eight-time Olympic gold-medalist left with just £9,700.

Lawyers for eight-time Olympic gold medallist Usain Bolt say their client has been defrauded of $12.7m from his account with a private investment firm in Jamaica that authorities are investigating.

Bolt was informed last week that his account balance at Kingston-based Stocks and Securities Ltd (SSL) had inexplicably dwindled.

ReadAlso

Usain Bolt suffers major tragedy as heartbreaking tributes pour in

Archbishop of Canterbury reveals ancestral links to slavery

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

“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,” he added.

ADVERTISEMENT

It has been reported in Jamaica that the retired sprinter, whose earnings per season were estimated to top £20m when he was active, has given the firm a 10-day deadline to return the money.

SSL, a private wealth management company based in the capital, Kingston, was placed under “enhanced oversight” while the Financial Services Commission (FSC) investigates the firm.

“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 company said.

SSL said it discovered the fraud earlier this month and that several of its clients may be missing millions of dollars.

Jamaica’s Finance Minister Nigel Clarke called the situation alarming but noted it was unusual.

“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,” he said.

Bolt’s manager, Nugent Walker, earlier told The Gleaner newspaper that the retired sprinter has had investments with the company for more than a decade.

The athlete retired in 2017 after a career that, in addition to eight Olympic golds, included 11 World Championship titles.

He sprung to global fame at the Beijing Olympics in 2008 when he won the 100 metres and 200m sprints, setting new world records in both races.

The Jamaican went on to win both races in the 2012 London and 2016 Rio Games.

Bolt’s 100m time of 9.57 seconds, set in Berlin in 2009, remains the world record and he also retains the fastest time in 200m.

He made his first appearance as a professional footballer in a pre-season friendly in Australia in 2018, when he played with Australia’s A-League club Central Coast Mariners.

Tags: JamaicaOlympicUsain Bolt
ADVERTISEMENT
Previous Post

IMF chief says global economic outlook ‘less bad’ than feared

Next Post

Gambia’s vice president Badara Alieu Joof dies in India

You MayAlso Like

Featured

Outsourcer in Chief: Is Trump Trading Away America’s Tech Future?

June 16, 2025
Column

Nigeria’s reforms have put the country on the global economic map

June 16, 2025
Sports

Man United want £85m striker, Liverpool eye Osimhen, Arsenal fight Bayern for winger

June 13, 2025
The FIFA Club World Cup 2025 will be hosted by the United States, one of the co-hosts of the FIFA World Cup 2026 [Luke Hales/Getty Images via AFP]
Sports

Club World Cup 2025: Full schedule, fixtures, dates and venues for Chelsea and Man City

June 13, 2025
The Club World Cup is surrounded by politics | Anna Moneymaker/Getty
Sports

How Infantino embraced Trump and the Club World Cup as a political football

June 12, 2025
Featured

What caused Air India flight to crash? Here’s what investigators are looking for

June 12, 2025
Next Post

Gambia’s vice president Badara Alieu Joof dies in India

Lionel Messi picture gets tattooed in Argentine Corn Farm

Discussion about this post

Uchenna Okafor Honoured with African Icons and Heroes Award for Community Development

UK-bound Air India with plane crashes with 242 people on board

What caused Air India flight to crash? Here’s what investigators are looking for

No Check-In, No Shame: Fact-Check Exposes Adams Oshiomhole’s Fabricated Lies Over Air Peace

Air India Plane Crash Sole Survivor Recounts Moments Before The Crash

Club World Cup 2025: Full schedule, fixtures, dates and venues for Chelsea and Man City

  • British government apologizes to Peter Obi, as hired impostors, master manipulators on rampage abroad

    1237 shares
    Share 495 Tweet 309
  • Maids trafficked and sold to wealthy Saudis on black market

    1063 shares
    Share 425 Tweet 266
  • Flight Attendant Sees Late Husband On Plane

    965 shares
    Share 386 Tweet 241
  • ‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

    901 shares
    Share 360 Tweet 225
  • Crisis echoes, fears grow in Amechi Awkunanaw in Enugu State

    735 shares
    Share 294 Tweet 184
  • Trending
  • Comments
  • Latest

British government apologizes to Peter Obi, as hired impostors, master manipulators on rampage abroad

April 13, 2023

Maids trafficked and sold to wealthy Saudis on black market

December 27, 2022
Flight Attendant Sees Late Husband On Plane

Flight Attendant Sees Late Husband On Plane

September 22, 2023
‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

March 21, 2023
Chief Mrs Ebelechukwu, wife of Willie Obiano, former governor of Anambra state

NIGERIA: No, wife of Biafran warlord, Bianca Ojukwu lied – Ebele Obiano:

0

SOUTH AFRICA: TO LEAVE OR NOT TO LEAVE?

0
kelechi iheanacho

TOP SCORER: IHEANACHA

0
Goodluck Ebele Jonathan

WHAT CAN’TBE TAKEN AWAY FROM JONATHAN

0

President Tinubu To Visit Benue Over Crisis, Shifts Scheduled Official Visit To Kaduna

June 16, 2025

Dangote Refinery Procures 4,000 Tankers, To Distribute Fuel Nationwide

June 16, 2025

Nicolas Sarkozy stripped of Legion of Honour over corruption conviction

June 16, 2025

Outsourcer in Chief: Is Trump Trading Away America’s Tech Future?

June 16, 2025

ABOUT US

Time Africa Magazine

TIME AFRICA MAGAZINE is an African Magazine with a culture of excellence; a magazine without peer. Nearly a third of its readers hold advanced degrees and include novelists, … READ MORE >>

SECTIONS

  • Aviation
  • Column
  • Crime
  • Europe
  • Featured
  • Gallery
  • Health
  • Interviews
  • Israel-Hamas
  • Lifestyle
  • Magazine
  • Middle-East
  • News
  • Politics
  • Press Release
  • Russia-Ukraine
  • Science
  • Special Report
  • Sports
  • TV/Radio
  • UAE
  • UK
  • US
  • World News

Useful Links

  • AllAfrica
  • Channel Africa
  • El Khabar
  • The Guardian
  • Cairo Live
  • Le Republicain
  • Magazine: 9771144975608
  • Subscribe to TIME AFRICA biweekly news magazine

    Enjoy handpicked stories from around African continent,
    delivered anywhere in the world

    Subscribe

    • About Time Africa Magazine
    • Privacy Policy
    • Contact Us
    • WHO’SWHO AWARDS

    © 2025 Time Africa Magazine - All Right Reserved. Time Africa is a trademark of Times Associates, registered in the U.S, & Nigeria. Use of this site constitutes acceptance of our Terms of Service.

    No Result
    View All Result
    • WHO’SWHO AWARDS
    • Politics
    • Column
    • Interviews
    • Gallery
    • Lifestyle
    • Special Report
    • Sports
    • TV/Radio
    • Aviation
    • Health
    • Science
    • World News

    © 2025 Time Africa Magazine - All Right Reserved. Time Africa is a trademark of Times Associates, registered in the U.S, & Nigeria. Use of this site constitutes acceptance of our Terms of Service.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.