Deposited 15.8 Billion Won but Only 15 Million Left: "Usain Bolt Financial Scam Victim"

Retirement Funds Scammed by Private Investment Company

Usain Bolt. Photo by AFP·Yonhap News

Usain Bolt (37), known as the "fastest man in the world," has had millions of dollars disappear from his financial accounts, prompting the Jamaican financial authorities to launch an investigation.

According to foreign media including CNN on the 19th (local time), Bolt's lawyer Lynton Gordon stated that Bolt had deposited $12.8 million (approximately 15.8 billion KRW) with Stox and Securities, but now only $12,700 (about 15.7 million KRW) remains. Stox and Securities is a private investment company, and Bolt is said to have been dealing with this financial firm for over 10 years.

Lawyer Gordon warned that if the funds are not returned within ten days, legal action will be taken. He said, "Bolt is a victim of fraud and theft," and added, "If the missing money is not returned within 10 days, we will take legal measures."

It is reported that there are multiple victims of financial crimes at Stox and Securities, including Bolt. The company acknowledged the occurrence of financial crimes earlier this month and announced that some clients may have lost millions of dollars.

Following the controversy, the Jamaican Financial Services Commission appointed a special auditor on the 16th to investigate the fraud allegations against Stox and Securities.

Usain Bolt during his active career.
Photo by EPA Yonhap News

Nigel Clarke, Jamaica's Minister of Finance, described the incident as "a very unusual case" and urged, "Please do not view Jamaica's entire financial industry negatively."

The Jamaican financial authorities also took temporary control of Stox and Securities on the 17th. As a result, the company will continue operations but must obtain government approval for all transactions.

Meanwhile, Bolt, who retired in 2017, is an athlete who broke numerous world athletics records during his active career. He still holds the men's 100m (9.58 seconds), 200m (19.19 seconds), and 4x100m relay (36.84 seconds) records. Bolt won eight gold medals at the Olympics and 11 gold medals at the World Championships.