An investigation has been launched after millions of dollars went missing from an investment account belonging to Jamaican athlete Usain Bolt.
The investigation was revealed by the star athlete’s long-standing manager, Nugent Walker, after Bolt discovered discrepancies in his accounts, Jamaican news portal The Gleaner reported.
Jamaica’s Financial Investigations Division and Financial Services Commission is reportedly looking into the case at investment firm Stocks and Securities Limited (SSL). The Gleaner also added that SSL has invited the police.
Bolt is said to have noticed the discrepancies with his accounts at SSL on Wednesday. “All the relevant steps have been taken to come to the bottom of this,” Walker stated, adding at he could not disclose the sum due to an ongoing investigation. “He’s been with this entity over 10 years … His entire portfolio is being reviewed,” Walker said.
The Gleaner further noted that an ex-worker at SSL has been implicated in widespread fraud at the company. The Portal said that the ex-employee may have been involved in Bolt’s case.
Meanwhile, a legal representative of the unnamed employee told The Gleaner that her client has been talking to the representatives of SSL. “My client is in discussion with SSL and the lawyers representing SSL,” she said.
Bolt is an eight-time Olympic champion and is considered one of the greatest track athletes of all time. Bolt, who retired in 2019, holds world records in the 100m, 200m and 4x100m relay.
After retiring from athletics, Bolt had a stint as a footballer. He once joined Manchester United to train. Then he got an offer from Australia’s club side Central Coast Mariners. He featured in a game for the team where he scored a goal. However, he was not able to secure a long-term contract.
According to Celebrity Net Worth, the Jamaican has a net worth of $90 million, making him one of the highest-earning athletes in the world. In 2017, Forbes ranked him at Number 45 on its list of the 100 richest athletes in the world. At the time, his net worth was estimated at $31 million.
Beyond the field, the Jamaican has a dozen high-profile sponsors. He has retained most of his sponsors even in retirement. According to Celebrity Net Worth, Bolt typically earns around $20 million per year, most of which comes through endorsement deals.
What’s more, he makes money through appearance fees and prize money. “Between June 2017 and June 2018, Usain Bolt earned $31 million. Only $1 million of his income was from on-track earnings. The rest came from endorsements,” Celebrity Net Worth writes.
Aside from his endorsement deals, he is also a business owner. According to Forbes, he is the owner of Track & Records restaurant in Jamaica and the U.K. He is also the co-founder of a Miami-based electric vehicle company called Bolt Mobility.