Jamaican sprinter Usain Bolt parts ways with business manger amid fraud case: report

Retired Jamaican superstar sprinter Usain Bolt told reporters on Friday he was looking for answers after $12.7 million disappeared.

Authorities are investigating a private investment firm suspected of large-scale fraud.

Bolt has millions of dollars invested in the company and has fired his business manager in response to an ongoing investigation.


Usain Bolt’s farewell ceremony at London Stadium on August 13, 2017 in London.
(Reuters/Phil Noble)

Boruto stated that the parting was not amicable, and he now shrugged off the idea of ​​being “broken”.

“I’m not broke, but it definitely puts me down,” he said. “It was for my future. Everyone knows I have three children. I still want to take care of my parents and still live well.”

Bolt’s attorneys said the athlete’s account with Kingston-based Stocks & Securities Limited fell from about $12.8 million to about $12,000. It had threatened to take action. As of Saturday, it was not clear if legal action had been initiated.

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Bolt told the Jamaica Observer that the public should expect “the expected and the unexpected” of the incident.

“I have nothing to say at this stage given what’s going on,” he was quoted as saying. “We are meeting with some people and working on specific issues.”

Jamaica's Usain Bolt won the gold medal in the men's 4x100m relay final at the 2016 Summer Olympics in Rio de Janeiro.

Jamaica’s Usain Bolt won the gold medal in the men’s 4x100m relay final at the 2016 Summer Olympics in Rio de Janeiro.
(AP Photo/David J. Phillip)

The legendary Olympic sprinter said multiple government agencies and older customers were also affected by the scam. It’s unclear how many clients were affected overall and how much money was lost in total.

“It’s always a sad situation. It’s really disappointing,” Bolt said of the elderly affected. “Everyone is confused…I am as confused as the masses”

Jamaican authorities have sought assistance from the FBI and other unidentified international experts, adding that clients have received false reports about their balances as part of their suspicion of fraud.

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On Friday, Bolt mentioned the alleged fraud while appearing at a planned luncheon.

Retired Jamaican sprinter Usain Bolt speaks during an interview in Tokyo, December 1, 2022.

Retired Jamaican sprinter Usain Bolt speaks during an interview in Tokyo, December 1, 2022.
(AP photo/Hiroshi Komae, file)

“As you know, I’ve had a tough week and a few weeks,” he said, adding that he will continue to do everything he can to lift his home island.

“No matter what is happening now, Jamaica is my country. That will never change.”

Stocks and Securities contacted law enforcement earlier this month to report that the manager had apparently committed fraud.


Jamaican Prime Minister Andrew Holness had previously announced that his administration would not bail out the company.

The Associated Press contributed to this report.

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