World-renowned sprinter Usain Bolt reflected on losing millions in a fraud scandal in a newly released video.
In early 2023, Bolt discovered that nearly $13 million was wiped from his account at investment firm Stocks and Securities Limited (SSL), the Jamaica-Gleaner reported. After being notified by a former employee with ties to the scheme, the eight-time Olympic gold medalist’s balance was only $12,000. A year later, he still has not received his money. An investigation is ongoing.
“Yow peeps, so it’s been one year. Just want unnu know seh mi still deh ya, still a fight the fight, still a hold on, always a go stay strong. Yuh know how the country yutes do it,” Bolt, who at 37 remains the world record holder in the 100 and 200 meters sprints, said on Jan. 11 in a video released on social media.
“To all the people who support me continue support…One love,” he continued.
SSL made headlines after it was revealed that an estimated $30 million was stolen from over 200 accounts, including Bolt’s, the outlet reported. The ex-client relationship manager, Jean-Ann Panton, was the only individual charged in this case.
Panton is facing a slew of charges, including engaging in a transaction involving criminal property, forgery, and larceny as a servant, according to the Jamaica-Star. She reportedly confessed to swiping the funds “over the course of several years” by creating “false statements to provide to the clients reflecting what they should have in their accounts and not the sum they actually had in their accounts.”
Panton, along with nine others, is listed as a defendant in a lawsuit by one of the scheme’s victims, Jean Forde, who alleges that $830,000 was taken from her portfolio.
Amid legal action, Panton claimed that her boss, Hugh Croskery, pushed her to admit to the wrongdoing.
“In trepidation, the second defendant (Panton) says that the background of the alleged confession was premised, on an offer made by the third defendant (Croskery) on behalf of the first defendant (SSL). The said offer was an inducement, and the statement would not have been made otherwise,” her defense team explained in a May 2023 filing. “The second defendant (Panton) therefore puts the claimant to strictly prove the validity of the alleged confession statement and allegations according to law.”
Last September, Jamaica’s head of finance, Nigel Clarke, announced that taxpayers would be responsible for the wages of the employees who still work at the firm amid the probe, sparking backlash from the public.
“I will provide more comprehensive details to the public once they become available. However, we’re talking about 22 staff members with a monthly payroll of $9.5 million. Additionally, there are operating expenses of approximately $5 million, along with some one-time expenses,” Clarke explained at the time.
