Jamaican sprint legend Usain Bolt has reportedly lost his retirement investments estimated at over Sh1.2 billion after a fraudster wiped his account clean.
Bolt is among more than 30 people whose investments at Stocks and Securities Limited (SSL) are believed to have been fleeced by a wealth advisor, the Jamaica Observer reports.
The investment company allegedly became aware of the fraud in August 2022 but it wasn't aware the Olympian was one of those affected even as it continued with investigations.
It is said Bolt requested a meeting with the firm in December following the yearly review of his financial portfolio, at which point he had noticed the discrepancy.
The Jamaica Observer says the information about the fraud was delivered to Bolt's management team last week before the company went public about the massive fraud.
It said SSL issued a statement Thursday last week saying it is aware the fraudulent activity was orchestrated by a former employee.
"We have taken steps to secure those assets and strengthened internal protocols to detect suspicious activity in the shortest time possible," the Jamaica Observer quoted the company.
The firm said only $2,000 (Sh248,100) out of US$10 million (Sh1,240,500,000) is left in Usain Bolt's Stocks and Securities Limited account.
The Jamaica Observer reports that a source told it Bolt opened the account in 2012 and never made a withdrawal.
The paper said the retired sprinter fears he will never recover the retirement funds.
The employee suspected of involvement was still employed by the company up to last Wednesday.
The Jamaican paper said the employee allegedly "confessed" to other matters to which he was being investigated before Bolt's issue came up.