A whopping sum of $12 million has been wiped out from the account of Jamaican Olympic sprinting champion Usain Bolt.
The lawyers of the Olympic champion confirmed on Thursday that Bolt lost his retirement and lifetime savings in his account with an investment company, Stocks and Security Limited, to hackers.
It was reported by the Associated Press that Bolt’s account with Stocks and Security Limited was created to act as a pension for both of his parents and the eight-time Olympic gold medal-winning sprinter.
Linton P. Gordon, one of Bolt's legal representatives, said his client will be going to court to seek redress if the investment company doesn't return his funds that vanished into thin air.
In a conversation with Fortune magazine over the phone, Gordon declared: “The account was part of Bolt’s retirement and lifetime savings.
“It’s distressing news for anyone, and certainly in the case of Mr Bolt, who established this account as part of his private pension.
“We will be going to court with the matter if the company does not return the funds.
“It is a grave disappointment, and we are hoping that the matter will be resolved in a way that Mr Bolt will recover his money and be able to live in peace."
Olympic legend Usain Bolt has more than $12 million wiped out his investment account after massive scam. He now only has $12,000 in this account ?? pic.twitter.com/1asE2SIpP5— Daily Loud (@DailyLoud) January 19, 2023
Stocks & Securities Limited, reacting to the disturbing news via its website, asked that clients direct all queries to Jamaica’s Financial Services Commission, which is investigating the firm.
“We understand that clients are anxious to receive more information and assure you that we are closely monitoring the matter throughout all the required steps and will alert our clients of the resolution as soon as that information is available,” the company said.
The company equally disclosed that it discovered the fraud earlier this month and that several of its clients may be missing millions of dollars.
Jamaica's finance minister, Nigel Clarke, described the development as "alarming" while promising to “bring all perpetrators to justice.”
“It is tempting to doubt our financial institutions, but I would ask that we don’t paint an entire hard-working industry with the brush of a few very dishonest individuals,” he said.