World-Record Sprinter ‘Usain Bolt’ may have lost as much as $12.7-million USD as a result of improper investment management or fraud.
The company that is at the center of the investigation ‘Stocks & Securities Limited’ is a Jamaican financial services company, that from all current indications is a legitimate wealth management firm based in Kingston, Jamaica, and the company (SSL) encourages its clients to purchase stocks in Jamaican companies that are traded on the Jamaican Stock Exchange (JSE).
Astute observers have indicated that the physical cash in Mr. Bolt’s account would be in a Jamaican Bank or a U.S Bank, and SSL would then have certain levels of authority to move funds as authorized, and Mr. Bolt would have had to give power-of-attorney over all his account for it to have evaporated, or whomever placed Mr. Bolts funds in a declining investment scheme is responsible for the loss or thief; or ( a strange, mysterious and bizarre development has occurred).
SSL may be the victim of very-crafty international players, and are being cast’d as the villains. But Jamaican authorities (FSC) are investigating the case thoroughly and are reportedly looking at and investigating all the players in a scheme that caused 10s of millions of U.S dollars to be lost from their accounts in Jamaica.
Jamaica’s Financial Services Commission (FSC) has paused the trading operations of SSL, and said they were investigating SSL’s exposure to a complex fraud scheme that may have not been orchestrated by SSL.
Attorney at law Linton P. Gordon of ‘Frater Ennis & Gordon’ provided the Associated Press News (AP) with a copy of a letter written to SSL demanding that the monies be returned within 10 days.
But the cloudy web of the investigation also indicate that a long time manager of the company is also the focus, and that manager has retained the services of attorney at law ‘Tamika Harris’ and Associates.
SSL for its part has told the media in Jamaica that they are cooperating fully with the authorities.
There are reportedly more than 40 victims that have lost millions.
The attorney that represents Mr. Bolt told The Guardian (UK) that they are trying to recoup the money.
Written & Compiled by: channel1Belize.com / digitalBelize,LIVE | digitalCaribbean.LIVE | Staff writer – Wednesday, January 18th. 2023 – channel1belize@gmail.com