The Federal Bureau of Investigations (FBI) in America has been asked to join the probe into Jamaican sprinter Usain Bolt’s missing $12.5 million retirement fund.
The massive scam came to light when Usain Bolt checked his retirement account and noticed just $12,000 was left of his $12.75 million.
Bolt, 36, had entrusted Jamaican-based investment firm Stocks and Securities Limited (SSL) with his retirement fund. It is believed that a former director at the investment firm looted the accounts of specific clients and fled to the US or other countries with the stolen money.
Jamaican Finance Minister Nigel Clarke said on Monday he had asked the FBI and other international partners to join the investigation.
“This fraud is one of the largest securities frauds in the last two decades,” Clarke said at a press conference.
SSL is one of just 15 registered brokers on the Jamaican Stock Exchange, according to DailyMail.com.
SSL blames the fraud on a rogue former employee, but evidence suggests the scam, involving billions in stolen client funds, dates back to at least 2010.
Usain Bolt, who is Jamaican, wanted to invest his money in his home country. The Olympic gold medalist is considered one of the greatest sprinters of all time. He retired in 2017 after dominating the sport for over a decade.
Finance minister Clarke said “the coverage of this fraud in every major media outlet across the globe is a source of great embarrassment to Jamaicans here, and in the diaspora”.
“This is a body blow to Jamaica and has the unfortunate impact of tarnishing Jamaica’s global reputation,” he said.