Fbi Involved In Fraud Investigation Against Usain Bolt

FBI Involved In Fraud Investigation Against Usain Bolt

The Jamaican government has asked the FBI to investigate a large-scale fraud involving a private investment firm that has gone missing in $12.7 million belonging to retired sprinter Usain Bolt.

elderly customers

The scam spanned 13 years and also targeted older customers and government agencies. Authorities have yet to determine the amount stolen.

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Bolt’s attorneys, who reported that Starr’s account had a balance of just $12,000, gave the investment firm a deadline, which expires this Friday, to return the money or go to court.

Finance Minister Nigel Clarke said on Monday the government is asking other unnamed international bodies for help to participate in an investigation into one of the biggest frauds in the island’s history.

“The anger and upset we are all feeling is the long period of 13 years this scam is alleged to have taken place, and the fact that[the suspects]have deliberately and ruthlessly committed a crime against the elderly and our beloved and respected people. It was amplified by the fact that it had an impact on a nation that is an icon … Usain Bolt,” said Clarke.

Unknown amount stolen

The Kingston-based Stocks and Securities Limited investigation has just begun, and the exact amount stolen and the number of people affected have not been determined. Clark said customers received incorrect balance reports for suspected fraud.

Jamaican government agencies such as the National Health Fund, the Farmers Association and the National Housing Fund have also invested millions of dollars in stocks and brokerages, Clark said.

Jamaica’s Financial Services Commission has launched an investigation after the company warned authorities that its manager had committed fraud earlier this month.

The chairman of the committee subsequently resigned, and Clark ordered the Bank of Jamaica to be charged with regulating the island’s financial system.

“There is no need to panic. Despite this unfortunate episode, Jamaica’s financial sector remains strong.” Finance Minister Nigel Clarke

The company did not respond to requests for comment from The Associated Press.

Clark said authorities are trying to reveal all the details of the alleged fraud.

what they resist

“They intend to find out exactly how much money was allegedly stolen, who profited from the theft, and who organized and supported it.

Clark said the government will seek to seize any property that may have been acquired with the allegedly stolen funds. He added that the government will soon pass tougher penalties for white-collar crimes.

“If you steal from depositors or defraud investors… you endanger our financial system and our way of life and Jamaican society will send you (to jail) for a long time,” he said. added.

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