Usain Bolt fires business manager over Jamaica fraud case

Usain Bolt fires business manager over Jamaica fraud case

Bolt also said he fired his chief business officer, adding that it was not an amicable split.

When asked if he was “broken”, the retired star athlete laughed.

“I’m not broke, but it definitely ruined me,” he said.

“It was for my future. Everyone knows that I have three children. I still take care of my parents and I still want to live very well.” Bolt’s attorneys said the athlete’s account with Kingston-based Stocks and Securities Limited had fallen from nearly $12.8 million to around $12,000. They had given the company until Friday to return the money or face civil and criminal prosecution.

It was not immediately clear if any action had been taken on Friday evening. Solicitor Linton P Gordon did not return a message seeking comment.

He told the Jamaica Observer newspaper that the public should anticipate “the expected and the unexpected” in this case.

“There’s nothing to talk about at this point, given what’s going on,” he said.

“We have met people and we are dealing with some issues.” Earlier this week, Jamaican Finance Minister Nigel Clarke announced that the head of the Financial Services Commission was stepping down and that the Bank of Jamaica would now be in charge of regulating the island’s financial system.

He said several government agencies and elderly customers were also affected by the alleged fraud.

“It’s still a sad situation. Absolutely disappointed,” Bolt said of the seniors affected.

“Everyone is confused. … I’m as confused as the public.” Jamaican authorities have requested assistance from the FBI and other unidentified international experts, adding that customers received false statements about their balances in connection with the alleged fraud. Officials have not yet specified how many customers overall have been affected and how much money in total is missing.

Earlier Friday, Bolt spoke at a sponsored luncheon for an upcoming relay and discussed the alleged fraud.

“As you all know I’ve had a tough week, a tough few weeks,” he said, adding that he would continue to do all he could to uplift his island.
“No matter what is happening right now, Jamaica is my country. That will never change,” he said.

In an aside to reporters, he said: “I just try to focus on my family and not think about it too much because it’s a difficult situation.” Stocks and Securities Limited did not return a message seeking comment on Friday. The company contacted authorities earlier this month to alert them that an official had apparently committed fraud.

Earlier this week, Jamaican Prime Minister Andrew Holness announced that his administration would not bail out the company.

“The government will not socialize any debt, and we will not socialize the failure of our banks,” he said.

With agency contributions