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Usain Bolt is set to recover a large portion of the $13 million lost from his Stocks and Securities Limited (SSL) accounts.
Usain Bolt is set to be repaid a huge chunk of the US $13 million that disappeared from his accounts at the Stocks and Securities Limited (SSL).
Caribbean Life noted that the SSL announced that they have a plan underway, intending to restore their reputation after losing a huge number of their employees and being almost on the brink of collapsing.
At the time of the robbery, Bolt, the world record holder in the 100m and 200m was alerted that he had an empty account by a former employee of the organisation. This prompted the multiple Olympic champion to begin an investigation to do thorough research on the credibility of the company.
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11:30 - 24.09.2024
Top 5 fastest men in the 200m in 2024
This season has seen athletes run crazy times in the men's 200m and threaten Usain Bolt's 19.19 seconds 200m world record.
Following the huge setback, the company has been under mass scrutiny and recently, they released a statement intending to pay more than $30 million to more than 200 clients who were waiting for feedback for over a year after the issue happened. The state regulator, the Financial Services Commission (FSC), has requested the SSL to begin the payout as soon as possible.
“The commission assures all stakeholders that it is dedicated to maintaining transparency and accountability throughout this process and will provide further updates as necessary,” said Executive Director Keron Burrell.
“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, in alignment with the legal and regulatory framework established by the Securities Act. The commission assures all stakeholders that it is dedicated to maintaining transparency and accountability throughout this process and will provide further updates as necessary.”
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16:00 - 29.09.2024
Noah Lyles explains Fred Kerley's role in hindering Kishane Thompson from snatching Olympic 100m gold
Noah Lyles has lauded US teammate Fred Kerley for playing a critical role in preventing Jamaican rival Kishane Thompson from clinching the 100m gold during the Paris 2024 Olympics.
The SSL and FSC disclosed that they raised the money after selling a ‘portion of their international securities client portfolio’. At the moment, SSL is undergoing a court-monitored winding-up process under the control of a legal trustee.
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