Usain Bolt bankrupted, loses all of his life's savings in a financial scam

Former Jamaican sprinter Usain Bolt's lawyers have alleged that the sprinter has lost all of his money in a financial scam. Bolt's Kingston-based Stocks and Securities Ltd. account is now just $12,000 after originally holding $12.8 million days back. "If this is correct, and we are hoping it is not, then a serious act of fraud larceny or a combination of both have been committed against our client," Bolt’s attorneys said in a letter to The Associated Press.

Will Bolt get his money back?

Lawyers also stated that they will take civil and criminal action against the fraud if the money is not returned within the next 10 days.

Jamaica's Financial Services Commission is currently working on the case and has been investigating Kigston-based Stocks and Securities Limited.

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"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 commission said.

Jamaican Govt Steps In

Meanwhile, Jamaican Finance Minister Nigel Clarke had earlier said that SSL had allegedly committed "alarming and evil fraud" and that authorities would "bring all perpetrators to justice."

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