Usain Bolt Lost $12 Million in Savings to a Scam

Jamaican Olympic sprinter Usain Bolt was shocked to discover $12 million missing from an account he had with Kingston-based investment firm Stocks and Securities Ltd., according to his lawyer.

Bolt was recently told there was only about $12,000 remaining in the account, his lawyer Linton P. Gordon said in a phone interview. The account was part of Bolt’s retirement and lifetime savings.

“It’s distressful news for anyone,” Gordon said on Wednesday. “And certainly in the case of Mr. Bolt, who established this account as part of his private pension.”

Jamaica’s Financial Services Commission on Tuesday said it had installed its own temporary manager at SSL, following reports of allegations of fraud that had earlier prompted the commission to put the bank under enhanced oversight.

SSL did not immediately respond to calls and emails requesting comment.