Sprinter Usain Bolt’s $10 Million ‘Retirement Funds’ has wiped out in a massive scam, leaving him with only $2,000 in his bank account.
Essentially Sports and Jamaica Observer reported that Bolt’s Stocks and Securities Limited (SSL) retirement fund was defrauded of around $9,998,000 this month and only $2,000 left in the account.”
On Thursday, the Jamaica Gleaner also posted the news on YouTube, saying that the sprinter’s “retirement savings were wiped away” and he “fears he won’t recover money.”
According to the research, 30 individuals—including the Jamaican athlete—lost a combined $1.2 billion from the SSL due to an internal staffer helping an outside financial advisor. Despite the initial suspicions being raised in August 2022, the con artist evaded capture, and it is currently unknown whether the stolen riches will ever be recovered.
According to Reuters, Bolt’s financial struggles probably included income from his Puma ambassadorship, which he started in 2013 and reportedly earned him $10 million annually. In November of last year, Bolt posted a tagged Instagram image in support of the company while sporting a golden yellow color block pair of sneakers (which are presently out of stock) and a black, coral, and turquoise sweatsuit.
According to Essentially Sports and the Financial Services Commission (FSC), the SSL has previously been accused of making illegal sales. An FSC company revealed in the report that the SSL disregards authorization processes for FSC-based transactions, which prompted investors to question the SSL, including Bolt, whose management team had previously forewarned the SSL about the possibility of a financial hoax.
