)
Eight-time Olympic champion Usain Bolt has expressed frustration over his inability to recover millions lost in the SSL fraud.
Multiple Olympic champion Usain Bolt has expressed deep frustration and disappointment over his inability to recover millions lost in a widespread investment fraud involving the now embattled Stock and Securities Limited (SSL).
The eight-time Olympic gold medalist, who is regarded as one of the greatest sprinters in history, saw over $12.7 million vanish in the 2023 scam, along with funds from other investors totaling over $30 million.
)
17:32 - 02.10.2024
Shelly-Ann Fraser-Pryce walks away from coach to chase her final dream
After a successful four-year partnership, Shelly-Ann Fraser-Pryce parts ways with her coach amid injury struggles and tension.
Bolt's attorney, Linton Gordon, revealed the sprinter's emotions in an interview with The Jamaica Gleaner, emphasizing his client's dismay at the ongoing investigation’s lack of progress and transparency.
“He’s very frustrated and disappointed. He’s simply shocked and disappointed to know a country he has put on the map, and he put his money in an institution here, that he has lost it or he can’t get it back,” Gordon said.
Bolt had invested his retirement savings through an account under his holding company, Welljen, which was opened at SSL in 2012.
)
17:12 - 02.10.2024
Twanisha Terry opens up on what it takes to become an Olympian
American sprinter Twanisha Terry has revealed what it takes to become an Olympian
The sum had reportedly grown to over $12 million by the time the fraud was uncovered in January 2023.
Despite multiple investigations involving international agencies like the FBI no significant updates have been provided to Bolt or the public about the recovery of the funds.
The scandal has left Bolt, who dominated the 100m and 200m sprints in three consecutive Olympic Games, stunned at the turn of events.
)
16:40 - 02.10.2024
'You're a game changer'-Noah Lyles delivers emotional message to girlfriend Junelle Bromfield
Noah Lyles has shared a heartfelt message to support his girlfriend Junelle Bromfield as she faces cyberbullying and adversity.
Having earned up to $34 million annually during the peak of his career, Bolt’s retirement savings were intended to secure his financial future after an illustrious career. Major brands like Puma contributed significantly to his earnings, with over $10 million annually in endorsements.
Despite this financial success, the loss of his substantial investment has been a heavy blow.
Gordon voiced Bolt’s growing impatience with the pace of the investigation, especially given the high-profile attention the case has attracted.
“[Dr Nigel] Clarke announced that investigators were coming from Canada, England, from Timbuktu, and from the United States. We haven’t had one iota of information regarding the outcome of those investigations. So, we don’t know who took the money, or who we can turn to, because everything is now under cover,” Gordon stated.
)
09:00 - 03.10.2024
Elaine Thompson-Herah follows Shelly-Ann Fraser-Pryce in shocking departure
Elaine Thompson-Herah has made a surprising career decision following Shelly-Ann Fraser-Pryce’s departure signaling major changes ahead.
The frustration extends beyond the financial loss. Bolt, a national hero in Jamaica, feels betrayed by the system that failed to protect his investments.
In a cryptic tweet posted earlier this week, Bolt expressed his dissatisfaction with the situation: “They banking on the country youth love for his country but ask yourself, do they love their country or themselves."
In response to the ongoing pressure, Jamaica’s Financial Services Commission (FSC) has remained committed to ensuring that the victims of the SSL fraud, including Bolt, are compensated.
The FSC's director assured the public that the regulator is working to facilitate the recovery of funds.
“The FSC remains resolute in its mission to facilitate the fair treatment of SSL investors. This vigilant oversight is crucial to ensuring that SSL meets its obligations to clients in a timely and transparent manner,” the FSC said in a statement.
SSL has also indicated that it may issue a payout to victims, reportedly stemming from the sale of its international securities client portfolio.
)
10:50 - 01.10.2024
'Fake news'- Usain Bolt seemingly responds to claims that he is set to receive millions lost in SSL fraud
Usain Bolt seemingly reacted to reports that he will receive part of the $13 million stolen from his SSL accounts, calling the news "fake" while questioning the company's intentions.
However, no concrete timeline for the recovery or disbursement of funds has been given, leaving Bolt and others still in limbo.
For Bolt, who brought immense pride to Jamaica through his record-breaking achievements on the track, the personal and financial toll of the SSL scandal remains an ongoing source of frustration.
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)