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Kingston
The Federal Bureau of Investigation (FBI) has been approached by the Jamaican government to assist in probing the fraud in which eight-time Olympic champion Usain Bolt lost over $12.7 million. Jamaican Finance Minister Nigel Clarke informed about the decision and said the FBI and other international partners were urged to join the investigation against investment firm Stocks and Securities Limited (SSL) to bring 'to justice all perpetrators and co-conspirators'.
After the fraud came to light, Bolt's representatives informed that his account containing $12.7 million had dwindled to just $12,000.
Bolt's attorneys have given a Friday deadline to SSL to recover the money or prepare to be dragged to the court.
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The multi-billion fraud appears to have spanned for more than a decade before the lid was blown over it. Clarke questioned how a scam of such magnitude that targetted elderly clients and government agencies could go on without anyone coming to know about it.
"The central issue, my fellow Jamaicans, is, how did this fraud, this alleged fraud, go undetected for 13 years, between 2010 and 2023. Perhaps even longer," he said in a press conference.
The authorities, at this point, do not know how much money was stolen. However, given the timeline of the scam, it can be said with certainty it is a multi-billion dollar scam.
SSL has attempted to shrug off the responsibility by suggesting that a rogue former employee was behind the operation.
"Like all Jamaicans I am in shock, and feel a profound level of anger and disgust, at the alarming and evil fraud that has allegedly been committed at Stocks and Securities Limited, and which is the source of public discussion and anxiety at this time," added Clarke.
Bolt's $90 million fortune may not have taken a substantial hit due to the fraud but the elderly clients who planned their retirement with the private investment firm are staring down the barrel of a bleak future.
(With inputs from agencies)
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