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$9,998,000 Loss Rocks Olympic Legend Usain Bolt as Massive Scam Erupts in Jamaica

Published 01/16/2023, 9:57 AM EST

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The new year didn’t start well for Jamaican Olympic legend Usain Bolt. The sprinting icon has lost a huge chunk of his retirement money to a financial scam. He is among the 30 people whose investments have been wiped out by an internal employee at Stocks and Securities Limited (SSL). As the near $10 million loss has left the retired Olympian with next to nothing, he currently lives in fear that his money is now gone; recovery is questionable.

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via Reuters

SSL has lost more than $1.2 billion because of an internal employee who was assisting an outside wealth advisor. Per Jamaica Observer, the company did raise suspicion over this last August but failed to catch the people at play.


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Bolt’s account was opened in 2012, and no transactions had been made since then. He confirmed that, of the $10 million he had invested, he was robbed of $9,998,000, leaving him with just $2,000.

WATCH THIS STORY – “Goodbye” to the Eternal King Pele”: Usain Bolt Joins David Beckham, Cristiano Ronaldo, and Soccer World in Mourning the Saddening Loss of GOAT Pele

What’s next for Usain Bolt?


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Most of Bolt’s hard-earned money that he invested in that particular account is gone. SSL made it clear that their officials have failed to catch the people responsible. The Financial Services Commission (FSC) reported that the SSL had been accused previously of unauthorized sales. One entity from FSC confirmed that SSL overlooks the authorization procedures for transactions provided by FSC. This statement has led to several questions for SSL by the investors, including Bolt.

The company was also unaware of the fact that Bolt’s account was affected as well. Bolt’s management team once tried to warn SSL about a possibility of such a mishap happening in the future. Evidently, their words were not heeded.


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Fans can only hope the decorated sprinter finds his way out of this financial doom soon. Let us know your views in the comment section.

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Written by:

Rahul Goutam Hoom


One take at a time

Rahul Goutam Hoom is a US Sports writer for EssentiallySports. He is currently pursuing his Master's in Mass Communication and Journalism from Birla Global University. Rahul does photography and gaming during his leisure hours and likes to watch anime.
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Edited by:

Anupama Ghosh