Investigation launched into company which handles Usain Bolt’s investments as ‘millions go missing’

A company that handles the investments of sprint legend Usain Bolt is now under investigation after reports it could have lost millions of pounds to fraud.

Bolt is believed to have a net worth of around £70 million after a career that has seen him widely regarded as one of the greatest sportsmen of all time.

In his prime he was earning tens of millions a year from Forbes revealing that he had earned over £25 million in the 12 months leading up to his last Olympic Games in 2016.

Jamaican financial authorities have now said they are investigating allegations of fraud at Stocks & Securities Ltd, a private wealth management company based in the capital of Kingston, Jamaica.

In a report in the jamaican gleanerBolt’s manager, Nugent Walker, was quoted as saying Bolt has invested in the company for more than a decade and his entire portfolio is being reviewed after he noticed discrepancies in his account.

The Jamaican Financial Services Commission (FSC) has now placed the company on “enhanced supervision” following the allegations.

The Gleaner report claims millions of dollars were missing from the account.

The FSC said it was “aware of reports of allegations of fraud” and that the monitoring process would allow it to monitor the movement of funds and securities in and out of the investment trust.

“The FSC will simultaneously continue its investigations into SSL-related matters,” it added.

SSL has hinted that a former employee was behind the alleged fraud, adding that it had “referred the matter to the relevant law enforcement authorities”.