In a shocking turn of events, the SSL employee responsible for the embezzlement scandal that ensnared Olympic legend Usain Bolt and 39 other clients has approached Bolt’s management for a hefty loan. Reportedly, Stocks & Securities Ltd., the Jamaican financial firm, has placed the blame on a single employee for running the whole scam.

In an emailed statement that SSL released, it was reported that Bolt’s management had earlier on January 11 approached the firm to report an SSL employee. They informed that the said employee had confessed to providing a falsified statement and was apparently the one behind the case. According to the reports, the employee, who is now fired, has also requested Bolt’s financial management team to issue some loans.

The financial management team of Usain Bolt was approached by the alleged ‘Fraudster’

Even though SSL refused to identify the victim, it informed that the person in concern has requested a loan to help pay back the other 39 victims. The Kingston-based firm added, “apparently still believed that she could borrow the money from the Bolt management group to repay the other SSL clients.” The board’s disciplinary panel was quick to dismiss the concerned employee on grounds of “negligence and gross incompetence.”

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The events that have unfolded over the last few weeks have not just put adverse consequences for the affected clients but have also put a question on the integrity of the other hard-working SSL staff. “The former employee’s dishonesty has led to the most widely publicized news event from Jamaica in recent years,” remarked the firm in their statement.

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For those unversed, last month, Bolt lost all most all of his savings. The father of three, who had $10 million put into invested, was robbed of $9,998,000, leaving him with just $2,000. Following this, the news has been making national and international headlines. Even though the firm ensures that the fraud has not affected most clients, the loss is still being assessed.

Looking at the update so far 

According to the norm, SSL had a ten days ultimatum to return the $12.7 million that Bolt had earlier claimed to be in his account. However, the firm failed to meet the deadlines. Even though Bolt’s lawyer, Linton P Gordon, earlier threatened the company with a legal consequence, any further developments on the said course are yet to come.

Jamaica’s Finance Minister Nigel Clarke on Tuesday described the situation as “alarming and evil.” Minister Clarke assured the public of a fair investigation. He remarked the authorities involved would do their best to get perpetrators to justice. After the matters came to the limelight, the Financial Services Commission of Jamaica (FSC) overtook the existing management of SSL. Bolt’s account at SSL was intended to serve as a pension for him and his aged parents. But now, with the unfortunate turn of events, many questions need to be answered.

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