{"id":54505,"date":"2023-01-28T18:20:54","date_gmt":"2023-01-28T23:20:54","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/jamaican-sprinter-usain-bolt-parts-ways-with-business-manger-amid-fraud-case-report-54505"},"modified":"2023-01-28T18:20:54","modified_gmt":"2023-01-28T23:20:54","slug":"jamaican-sprinter-usain-bolt-parts-ways-with-business-manger-amid-fraud-case-report","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/jamaican-sprinter-usain-bolt-parts-ways-with-business-manger-amid-fraud-case-report-54505","title":{"rendered":"Jamaican sprinter Usain Bolt parts ways with business manger amid fraud case: report"},"content":{"rendered":"
\n

Retired Jamaican superstar sprinter Usain Bolt<\/a> told reporters Friday he is searching for answers after $12.7 million vanished.<\/p>\n

Authorities are investigating a private investment firm as part of an alleged large-scale fraud operation.<\/p>\n

Bolt had millions invested with the firm<\/a> and has fired his business manager in response to the ongoing investigation.<\/p>\n

CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM<\/u><\/strong><\/a><\/p>\n

Bolt mentioned the parting of ways was not amicable, and he shrugged off the notion that he was now “broke.”<\/p>\n

“I\u2019m not broke, but it\u2019s definitely put a damper on me,” he said. “It was for my future. Everybody knows I have three kids. I\u2019m still looking out for my parents, and I still want to live very well.”<\/p>\n

Bolt\u2019s attorneys said the athlete\u2019s account with Kingston-based<\/a> Stocks and Securities Limited dwindled from nearly $12.8 million to around $12,000. They had threatened to take legal action if the funds were not returned by Friday. It was not clear as of Saturday if any legal action had been initiated.<\/p>\n

USAIN BOLT ALLEGES NEARLY ALL OF $12+ MILLION IN PRIVATE INVESTMENT ACCOUNT WIPED AFTER ‘SERIOUS ACT OF FRAUD’<\/strong>\u00a0<\/a><\/p>\n

Bolt told the Jamaica Observer newspaper the public should anticipate the “expected and the unexpected” in the case.<\/p>\n

“There is nothing to say at this stage, given what is happening,” he was quoted as saying. “We have met with persons, and we are dealing with certain matters.”<\/p>\n

The legendary Olympic sprinter<\/a> noted that several government agencies and elderly customers also were affected by the alleged fraud. It is unclear how many clients overall were affected and how much money in total is missing.<\/p>\n

“It\u2019s always a sad situation. Definitely disappointed,” Bolt said of the elderly who were affected. “Everybody\u2019s confused. \u2026 I\u2019m as confused as the public.”<\/p>\n

Jamaican authorities have requested help from the FBI<\/a> and other unidentified international experts, adding that clients were given false statements regarding their balances as part of the alleged fraud.<\/p>\n

ODELL BECKHAM JR. REACTS TO SHA’CARRI RICHARDSON GETTING KICKED OFF PLANE: ‘BUT I’M THE A–HOLE’<\/strong>\u00a0<\/a><\/p>\n

On Friday, Bolt mentioned the alleged fraud during a scheduled appearance at a luncheon.<\/p>\n

“As you all know. I\u2019ve been going through a tough week, a few tough weeks,” he said, adding he would continue to do everything he can to lift up his home island.<\/p>\n

“No matter what\u2019s going on right now, Jamaica is my country. That will never change.”<\/p>\n

Stocks and Securities contacted law enforcement earlier this month to report that a manager had apparently committed fraud.<\/p>\n

Jamaican Prime Minister Andrew Holness previously announced that his administration would not bail out the company.<\/p>\n

The Associated Press contributed to this report.<\/i><\/p>\n<\/div>\n

Source – https:\/\/www.foxnews.com\/sports\/jamaican-sprinter-usain-bolt-parts-ways-with-business-manager-amid-fraud-case-report <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Retired Jamaican superstar sprinter Usain Bolt told reporters Friday he is searching for answers after $12.7 million vanished. 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