Investigation launched into company which handles Usain Bolt’s investments as ‘millions go missing’

A company which handles investments for sprinting legend Usain Bolt is now under investigation after reports that he may have lost millions of dollars to fraud.

Financial authorities in Jamaica said they are investigating allegations of fraud at Stocks & Securities Ltd, a private wealth management company based in the capital of Kingston, Jamaica. 

In a report in the Jamaica Gleaner Bolt´s manager, Nugent Walker, was quoted as saying that Bolt has invested with the company for more than a decade and that his entire portfolio is being reviewed after he noticed discrepancies in his account. 

A company which handles investments for sprinting legend Usain Bolt is under investigation

Jamaica’s Financial Services Commission (FSC) has now placed the firm in ‘enhanced oversight’ following the allegations.

The Gleaner report claimed that millions of dollars were missing from the account.

The FSC said it was ‘aware of reports of allegations of fraud’ and that the oversight process would allow it to monitor the movement of funds and securities into and out of the investment trust.

‘The FSC will simultaneously continue its investigations into matters related to SSL,’ it added.

SSL have intimated that a former employee was behind the alleged fraud and added it had ‘referred the matter to the relevant law enforcement authorities’.

Bolt is believed to have a net worth in the region of £70m after a career which has seen him widely regarded as one of the greatest sportsmen of all time.