Major Stories

Fraud Anniversary: No Redress For Bolt

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.

Watch the full report here:

CVM TV

Explore More: NEWS

Recent Posts

⁩ 8 PEOPLE ARRESTED IN ILLEGAL SLAUGHTERHOUSE MATTER

An illegal slaughterhouse was uncovered at Big Lane, Central Village, St. Catherine, around 7 AM…

2 days ago

Government Wins Appeal in Court Ruling on Paula Llewellyn’s Tenure

The Court of Appeal has ruled in favour of the government regarding the tenure of…

2 days ago

FLOW Reports Major Vandalism of Fibre Cables in Half-Way Tree

Flow Jamaica is reporting severe vandalism that has disrupted services for numerous customers in the…

2 weeks ago

CHEC Selected As Main Contractor for Multi-Billion Dollar SPARK Programme

The Government of Jamaica has signed $36 billion in road network contracts and announced an…

2 weeks ago

Indecom to Offer Oversight in Mas Camp Incident Allegedly Including Off-Duty Police

The Independent Commission of Investigations (INDECOM) will provide oversight regarding the Mas Camp incident, which…

3 weeks ago

New Integrity Commission Reports Reach Parliament

The Integrity Commission has submitted an investigation report and an indicative ruling from its director…

3 weeks ago