Financial Fraudsters Shock Sprinter Usain Bolt!

Thu Jan 19 2023 19:28:24 GMT+0530 (India Standard Time)

Sprinter Usain Bolt is regarded as one of the best runners. He has a history of winning three Gold medals in the Olympics. Usain Bolt won as many as eight medals in 2008, 2012, and 2016 editions of the games. He announced retirement in 2017. A fraudster shocked the sprinter by robbing around over Rs 100 crores. A few years back he opened an investment account in Stocks and Securities Ltd.

The company belongs to Jamaica. He is running the account by using his lifetime savings. He has funds of around 12.8 billion dollars. But only 12,000 dollars were left in his account by the end of the second week of January.

Going into details, it is said that this happened due to fraud. A former employee of the firm is believed to be the suspect in this as around 12.7 million dollars were missing from the account. It is said that a former employee is involved in irregularities in the account. Usain Bolt's lawyers warned the company that strict action would be taken if the funds are not deposited back.

However, there are reports which say that the fraud was unearthed in this month starting only. Millions of funds were missing from the accounts due to the irregularities of a former employee.

Not just Bolt, a few others also lost their funds. 30 others lost their funds and reported the same to the authorities of the firm. The investigating agencies have been informed about the fraud and the investigation is going on. The company said that it will focus on safeguarding the accounts of the customers.

Jamaican Finance Minister Nigel Clarke said that the issue is a serious one and directed the concerned authorities to take strict action against the guilty. The administration of the company was taken by the government temporarily.