Usain Bolt Responds To J$1.2 Billion Theft From His Retirement Fund

Usain Bolt Responds To J$1.2 Billion Theft From His Retirement Fund

Usain Bolt has seemingly responded to reports that his retirement fund has been swindledaway by an employee of a local investment company, Stocks and Securities Limited.

Bolt is an inspirational figure in Jamaica and is the poster boy for success and hard work. Starting as a teenager, the rural-born Trelawny native made his name as a star high school athlete running barefoot on the tough terrain in his home parish.

Usain Bolt’s perseverance has been witnessed by Jamaicans long before he stunned the world with his incredible talent as a sprinter in the early 2000s. His discipline and sacrifices saw him spending his 20s as an athlete, but those early sacrifices paid off as Bolt became an indomitable figure at the Olympics back-to-back four times.

The 100m and 200m champion competed in four history-making Olympic Games, Athens 2004, Beijing 2008, London 2012, and Rio de Janeiro 2016. The eight-time Olympic gold medallist Bolt holds the unbeatable world record for the 100m in a time of 9.58 seconds.

The recent report that his investments have been stolen by an employee of SSL has left many Jamaicans upset and disenchanted. This week more was revealed as to the magnitude of the loss, with the Jamaica Observer reporting that Bolt began investing with SSL in 2012 and had a portfolio of assets worth U$12 million. He is among 30 other investors, including his former manager Norman Peart who lost funds.

Peart has since been fired by Usain Bolt days after reports of the fraud came to light. It’s said that Bolt and his manager noticed the discrepancies in his investment account after his yearly review in December. There are reports that the Olympian’s portfolio now has U$2,000 remaining after the fraudster and her cronies somehow removed the funds.

On Monday, Usain Bolt seemingly reacted to the ongoing saga with a line from his best friend, Nugent Walker, as he questioned the greed that caused his money to be taken.

“In a World of Lies….Where is the Truth? The History Evil….What is the Root?…MONEY #CrypticWorld,” the producer and former sprinter wrote.

There are reports that the Financial Services Commission has ordered SSL to freeze its operations as the Jamaica Constabulary’s Financial Investigation Division conducts its investigation into the embezzlement. SSL has released a statement telling customers it became aware of the fraud in December and that the employee confessed to the crime. As of now, it is not clear if SSL has insurance and if said insurance would indemnify the loss to Bolt and the other customers.

On social media, many shared sympathy for Usain Bolt since the report surfaced.

Among those who shared solidarity with the artist are Ding Dong and Baby Cham, who both wrote the praying hands emoji under Bolt’s post.

Dexta Daps wrote, “Might not know the full story but ik ur [heart] clean mi bro… God always. continue ur beautiful journey as a jamaican icon all over the world, n ghetto yute dem role model… we support uuuuu.”

“Justice for Usain,” one fan wrote.

Another said, “The crazy thing is that even if he sues them and win there is no guarantee that he’ll get his money back. If they can’t pay it back they’ll just go to prison but he still won’t get his money back. Tears come a me eyes when me see how dem deal with the man weh should be classified as national hero.”


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