Key Points:
- Usain Bolt issued an ultimatum to SSL to return $12.7 million that he claims was stolen from his investment account.
- The ultimatum expires today.
- Bolt invested in the company through his holding company Welljen.
- Bolt has stated that he will take legal action if the money is not returned.
The ten day ultimatum given by lawyers representing eight time Olympic Gold medalist Usain Bolt to embattled stock brokerage firm Stock and Securities LTD. comes to an end today January 27. As the saga unfolds over the last two weeks in the multi-billion dollar fraud allegations against the St. Andrew based bolt has posted several cryptic messages on his social media as he comes to terms that he may never received the majority of his US$12, 758,181.74 investment that was taken from his WellJenn holding account.
On January 23rd, the “anything is possible’ star posted words from the Dave Kelly written Bounty Killer song “Anytime”: “Look into my eyes, tell me what you see, can you feel my pain? Am I your enemy?~ BK”
Look into my eyes, tell me what you see, can you feel my pain? Am I your enemy?~ BK pic.twitter.com/bC78bae6nz
— Usain St. Leo Bolt (@usainbolt) January 23, 2023
He also posted on January 23rd: “The real ones see through all the PR distractions. #Focus” on the same morning that former CEO of Stock and Securities Zachary Harding said in an interview that he didn’t know that Bolt had an account at the company during his 19 month tenure.
Harding, who in his previous career was manager to Sean Paul and as a music producer recorded Beenie Man’s “Who Am I,” also said in an interview on Nationwide 90 fm that he knows Usain Bolt socially but he is not a friend of Bolt. He followed up the interview with two statements via the media distancing himself from the theft which happened at the firm over ten years.
He admits that in taking the job at SSL he inherited many “irregularities”,but he worked to fix them.
Statement by Zachary Harding, former CEO of Stocks and Securities Ltd (Sept 2019 – June 2022): "I had no knowledge whatsoever of any client relationship with Usain Bolt or any entity that he may have been a part of," he told The Gleaner. pic.twitter.com/idAmJUN42K
— Jovan Johnson (@jovanthony) January 22, 2023
Finance Minister Nigel Clarke have among other things indicated that he is seeking overseas assistance in investigating the theft at the company and has since directed that the FSC takes over the SSL temporary and has acquired a court order stating that no assets be transferred or company restructured.
#UpdateReSSL pic.twitter.com/Hc3ALCkaif
— Nigel Clarke (@NigelClarkeJa) January 26, 2023
Bolt’s letter sent by law firm Frater, Ennis & Gordon outlined that up to the 31st of October 2022, Bolt had received a statement showing that he had in the account but that sun was quickly depleted to US$12,047.65. As a result Bolt is demanding full payment by January 27, otherwise he will proceed with legal action.
The 100m Olympic and world record holder turned music producer was is in a “black-out” mood yesterday as he grapples with the reality that his money may not be returned.Nugent Walker, Bolt‘s manager, first confirmed the situation to The Gleaner, adding that Jamaica’s Financial Investigations Division and Financial Services Commission are investigating Investment firm, Stocks and Securities Limited [SSL]. The iconic athlete, who is known for setting the 100–metre record at 9.58 seconds at the 2009 IAAF World Championships, has seen his funds move from a reported 10 million to just $2000.Walker told The Gleaner that all the necessary steps have been taken to investigate the alleged fraud, and they are reviewing the portfolio of the individual in question.Bolt and an unnamed sitting Jamaican Member of Parliament are among the more than 30 people whose investments at SSL are believed to be among those fleeced by the wealth advisor.Bolt posted a blackout screen with the soundtrack of his latest single “Cryptic World” on his instagram with the caption: “In a World of Lies….Where is the Truth? The History Evil….What is the Root?…MONEY #CrypticWorld”
