It has been a year since legendary sprinter Usain Bolt fell victim to a significant financial fraud by the troubled investment firm, Stocks and Securities Limited (SSL), losing at least 2 billion Jamaican dollars from his account. The irregularities uncovered at SSL in January exceeded $30 million US dollars or 4.7 billion Jamaican dollars, affecting over 200 accounts.
Initially, former SSL wealth advisor Jean-Ann Panton was the sole individual charged with the alleged fraud. However, ongoing investigations suggest that more parties may be implicated in the billion-dollar scam in the coming months.
In a recent Instagram post, Bolt expressed resilience but has yet to recover his substantial losses. Taking legal action through his company, Well-Jen Limited, Bolt has sued SSL, and the case is currently in the civil division of the Supreme Court in downtown Kingston.
The SSL probe faced a setback in early December when five laptops, including a device its Chief Financial Officer used, were stolen from the firm’s Kingston location.
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