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Usain Bolt just lost $12.7m to fraudsters – FBI invited to investigate

Jamaica’s government has turned to the FBI for help as it investigates a massive fraud case involving a private investment firm where $12.7 million belonging to renowned sprinter Usain Bolt has gone missing. The fraud lasted 13 years and also ensnared elderly clients and government agencies. 

The investigation into Stocks and Securities Limited is one of the largest fraud cases in Jamaica’s history. Attorneys for Usain Bolt, the Olympic gold medalist and national icon, have given the investment firm until Friday to return the money that was allegedly stolen from his account, which has dwindled to just $12,000. 

The government has asked other international partners for help in investigating the case and has placed the Bank of Jamaica in charge of regulating the island’s financial system. 

The Financial Services Commission began investigating after the company alerted authorities this month that a manager had apparently committed fraud. It is not yet clear how much money was allegedly stolen or how many people were affected, but government agencies such as the National Health Fund, Jamaica’s Agricultural Society and the National Housing Trust had all invested millions of dollars in Stocks and Securities Limited. The investigation is ongoing, and the government has made it clear that fraud will not be tolerated in Jamaica’s financial system.

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