Usain Bolt loses $12 million to hackers (His reaction after the Incident)

The Athlete celebrates with his trademark after olympic victory

Usain Bolt, the reigning Olympic sprinting champion from Jamaica, lost $12 million on Thursday due to hackers accessing his account with Stocks and Security Limited, a financial institution.

The account was a component of Bolt’s retirement and lifetime savings, according to a statement from his attorneys.

Gordon said on Wednesday that the revelation was sad for everyone and especially for Mr. Bolt, who set up the account as a part of his private pension.

Usain Bolt’s attorneys claim that millions of dollars are missing from the 36-year-old retired sprinter’s account with a private investment company in Jamaica. Bolt holds the record for the 100-meter dash.
The Financial Services Commission, Jamaica’s financial regulatory authority, is looking into the investment company in question, Stocks and Securities Ltd., following many accusations of fraud.

According to a letter submitted by Bolt’s attorney, Linton P. Gordon, who is seeking the restitution of $12.7 million to the athlete who currently has a balance of just $12,000 in that account, the Associated Press reported.

In a letter sent on Monday, Bolt’s attorney stated that if it turns out that the missing funds were actually stolen, “a serious act of fraud [or] larceny or a combination of both have been committed against our client.” The attorney also threatened legal action if the funds were not returned within 10 days.

Usain Bolt registers his famous victory pose as a trademark.

Stocks and Securities Ltd.’s official website posts a notice informing customers who are “anxious” that the business is “now under the guidance of the Financial Services Commission” and requesting their patience.

The business describes itself as being “solely focused on money management and fostering financial security and independence for Jamaicans and their Families” on its website.

The FSC said in a statement on January 12 that it was “aware of reports of charges of fraud at Stocks and Securities Limited” and that it was looking into the matter. The company may continue conduct business, but would need the FSC’s “oversight and clearance,” according to the statement.

The FSC did not immediately respond to a request for comment and did not disclose how many clients were impacted.

Nigel Clarke, the minister of finance for Jamaica, asked people not to judge the nation’s banking sector by the current scandal involving Bolt’s finances.

According to the AP, he stated, “It is alluring to question our financial institutions, but I would beg that we don’t paint an entire hard-working industry with the brush of a few very dishonest individuals.”

The eight-time Olympic gold medalist is revered as a national treasure in Jamaica, according to many. Bolt competed on the squad that broke the 4×100-meter world record and currently holds the world records for the 100 and 200 meters. He left his job in 2017.

With a $1 million salary and endorsements worth more than $30 million, Bolt was ranked No. 45 on Forbes’ list of the World’s Highest-Paid Athletes in 2018.

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