A three-year investigation into the disappearance of nearly $12 million that Usain Bolt had invested in a securities scheme has been revived with last week’s arrest of several directors of the company, which had been managing his retirement funds.
Jamaican police laid charges against Stocks and Securities Limited (SSL) directors Hugh Croskery, his daughter Sarah Meany, and Zachary Harding over the weekend, following recent efforts to uncover the fraud that had yielded new information.
Bolt, now 39, is globally regarded as the best sprinter in athletic history. He won eight gold Olympic medals at three straight games. He is also the only sprinter to have won Olympic gold in both the 100 and 200 meters at three consecutive Olympics, among other notable achievements.
Nearly three years ago, word began to leak out that at least $12 million that Usain Bolt had invested in the privately-run SSL had gone missing. This led to the collapse of the agency and calls for authorities to help return the national icon’s retirement funds. So far, no announcement has been made by the government. Police say that nearly 200 others have also been victims of the agency’s collapse and the missing funds. However, they receive little public attention as the focus remains on Bolt.
Until the weekend, police had arrested and charged only former client manager Jean Ann Paton for her alleged part in the disappearance of Bolt’s investment. They have now laid multiple charges against the three, including trading without dealer permits, falsely encouraging persons to invest in the agency, failing to register with the securities commission, and breaching the local banking act. They are to appear in court on Jan. 26, having been placed on police station bail.
As the months went by, police investigators faced withering criticism from Bolt and the public about the perceived lack of progress in their probe, but they contend that the investigation is a complex one involving the scrutiny of thousands of documents dating back at least two decades.
Speaking on a local podcast more than a year ago, Bolt had stated that “banking is supposed to be one of the most secure things out there. Sure, you expect that sometimes small things might happen, but we’re talking about money here. No one really expects something this big. The sad part is that there has been no real progress. It’s been two years, and we haven’t heard much. We can’t even see where progress is being made. It’s like nothing is happening.”
The charges against the three came hours after multiple state agencies, including the police, the special operations team, and the counter-terrorism task force, among others, had raided the homes and properties of several people linked to the investigations.
