Usain Bolt On Fired Business Manager And Missing $12.7 MILLION – NewsAlarts
Usain Bolt is still missing $12.7 million in investment money and kicked his business manager to the curb. That’s the latest update from the Jamaican athlete as of Friday (Jan. 27). According to the Associated Press, Bolt told reporters he’s “baffled” at the missing millions.
While he laughed at a question about being “broke,” Usain also explained the financial loss has been tough.
“I’m not broke, but it’s definitely put a damper on me. It was for my future. Everybody knows I have three kids. I’m still looking out for my parents, and I still want to live very well.”
A local private firm, Stocks and Securities Limited (SSL), was in charge of Usain’s funds. But this month, his account dropped from over $12 million to about $12,000. Usain reportedly discovered the missing money on Jan. 11. Bolt and his team gave the Kingston-based firm until Friday to return the funds or face criminal or civil action. Still, AP says it’s unclear if the company responded to Usain’s demand.
Additionally, Usain revealed he fired his business manager Norman Peart–named by The Jamaican Observer. But Bolt was tight on the details behind the firing, so it’s unclear if Peart is directly involved in the missing money.
“He was fired, that’s pretty much all I have to say. It wasn’t amicable…he was fired,” Usain said at a press conference following the 2023 Gibson-McCook Relays.
According to Jamaica Observer, Peart recently claimed he and Usain “parted company amicably in late 2022” during an interview. Peart is pictured below in the red circle.
Usain Bolt’s Missing Millions Being Investigated By Jamaican Government Officials
Usain’s manager Nugent Walker told The Jamaica Gleaner that the Financial Investigations Division and Financial Services Commission (FSC) received alerts about the missing millions. Walker also told the outlet Bolt has been with SSL for over ten years, meaning an investigation will include a review of Usain’s entire portfolio.
The FSC has reportedly taken control of SSL, where it’s been discovered that Usain’s missing money is only one part of a years-long scheme. Other people have reportedly fraudulently lost funds through SSL, but officials have not disclosed the affected number of people or the amount of money.
However, AP reports that government agencies and elderly people were affected by the alleged fraud. SSL reportedly contacted authorities in early Jan. to report a manager who had committed fraud.
Despite what Bolt called “a few tough weeks,” the athlete’s commitment to his hometown is unwavering.
“No matter what’s going on right now, Jamaica is my country. That will never change,” Usain said.
For now, Bolt is hoping to “focus on [his] family and trying not to think too much about…a difficult situation.”
On Jan. 16, Usain shared a blank, black photo with the following caption:
“In a world of lies, where is the truth? The history is evil…what is the root? MONEY #CrypticWorld