Usain Bolt named in $6 Million Fraud, know everything about it

Usain Bolt's counsel, Linton Gordon, strongly repudiated claims that the sprinting icon was negligent in losing the $6 million during a financial scam perpetrated by Stocks and Securities Limited (SSL). In fact, Gordon has placed blame on the Jamaican government, stating that it failed to protect investors from financial fraud prevalent to this date.

Victim-Blaming and Government Accountability

In a statement that was released on Friday, Gordon said what he called "an organized effort" was being made to put the blame on Bolt for the loss of his own investment.

"There now appears to be an organized effort to shift blame onto the Honorable Usain Bolt for his loss-when he is guilty of nothing more than investing in the country that he loves," said Gordon. He said that this was a "textbook case of victim-blaming," and accused it with the government trying to absolve itself from responsibility.

"This is a textbook case of victim-blaming, and it appears to be an attempt to absolve the government of its failure to protect public and those defrauded by SSL," Gordon stated.

He also indicated worry regarding what he termed as an attempt to silence victims and manipulate public perceptions surrounding the scam.

"Even more worrisome is the apparent attempt to silence victims and manipulate the narrative regarding who truly bears this large-scale fraud for which hundreds of Jamaicans have no hard-earned money to show for it and no clear path to recovery."

Bolt's Funds Were Properly Transferred

Gordon vigorously shot down claims that Bolt's funds were improperly transferred to SSL, labeling as "false, baseless and entirely without credibility" the accounts of such assertions.

"All funds lodged at SSL by Bolt's company were transferred through bank transactional routes, and every single payment had been acknowledged by the institution in writing," Gordon explained.

He also made reference to testimony in court from Ken Tomlinson- the temporary manager appointed by the Financial Services Commission (FSC)- confirming that Bolt's initially $6.2 million investment was unilaterally withdrawn under false pretenses from SSL's account. According to Bolt, the account statements as at late 2022 showed a total investment of $12.7 million.

Negligent Not Bolt

Gordon debunked any claim suggesting that Bolt was negligent in his money's management, saying the sprinter invested in a government-approved institution.

"All that can be said on the matters about Bolt being negligent in making these deposits is entirely unfounded," said Gordon.

"The Prime Minister of Jamaica, the Government of Jamaica and hundreds of Jamaican citizens invested in SSL-an institution that was approved and regulated by the government. To suggest that Bolt was careless or lacked proper financial management is to imply the same about every Jamaican who has invested in a government-approved financial institution."

Bolt Frustrated with the Investigation

Earlier this week, Bolt lamented the slow pace of the investigation while on the popular podcast The Fix.

"I am beyond frustrated," Bolt said. "I believe the government can do more to assist me in getting my money back."

However, while the SSL fraud investigations continue, Usain Bolt's legal team indeed fights against the narrative shifting blame onto the sprint legend. His argument has consistently been directed toward the Jamaican government for "its failure to protect investors." The case, now affecting thousands of Jamaicans, has turned into a battleground for arguing issues of financial regulation and accountability among the country's citizens.