From the blog

JAMAICA: Usain Bolt’s Missing $12.7m Investment Fund Under Investigation

Eight-time Olympic gold medalist Usain Bolt has instructed lawyers to chase after a missing $12.7m from his private investment account held a Jamaica based firm.

Last week, Bolt was made aware of his account balance at Kingston-based Stocks and Securities Ltd (SSL) had inexplicably dropped, he immediately ordered his lawyers to investigate.

Linton P Gordon, a lawyer of Bolt, said on Friday the account which had $12.8m, is now left with only $12,000.

“We will be going to court with the matter” if the company does not return the funds, Gordon said.

Jamaica’s Financial Services Commission (FSC) has also placed the investments firm SSL under investigation.

SSL said its own internal investigations suggest a former employee was behind the alleged fraud and added it had “referred the matter to the relevant law enforcement authorities”.

Jamaica’s Finance Minister Nigel Clarke called the situation alarming but noted it was unusual.

“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.

Bolt’s lawyers have threatened civil and criminal action if the money is not returned within 10 days.