Jamaican sprint legend Usain Bolt has finally spoken out about the multibillion-dollar fraud at Stocks and Securities Limited (SSL), which resulted in him losing approximately $12 million USD. In an interview with The Fix podcast, Bolt expressed disappointment in the government’s handling of the situation and made it clear that he expects restitution.
“If this happen to me and it a gwaan fi two years and me can’t see back a dime … you really start evaluate,” Bolt said, suggesting that the ordeal has made him rethink his status as a public figure in Jamaica.
The SSL scandal, which surfaced in January 2023, involved fraudulent activity dating back over a decade, impacting more than 200 clients and totaling losses exceeding $30 million USD. The prolonged investigation has frustrated many victims, including Bolt, who believes the authorities have not done enough to bring about a resolution.
Bolt criticizes government’s response
Bolt stated that despite conversations with government officials, “nothing has materialized.” He accused the government of failing to act decisively, calling the situation “almost at a stalemate.”
“The government alone really can do nothing big bout this,” he said, emphasizing that only the authorities have the power to ensure justice.
When asked if legal action was on the table, Bolt did not rule out the possibility. “At some point, we have to figure out something and make a move. We can’t just lose all of that [money],” he said.
Bolt admitted that he had remained silent on the matter to avoid damaging “brand Jamaica.” However, he now believes that public pressure may be his only recourse.
“Clearly it look like if me nuh start apply some pressure me nah go get back nothing,” he said, even hinting at the possibility of taking his fight to the international media if necessary.
Ongoing delays in the SSL case
Meanwhile, the legal battle surrounding the collapse of SSL remains bogged down in bureaucratic hurdles. Two years after the fraud was exposed, a critical piece of evidence remains outstanding, preventing the Office of the Director of Public Prosecutions (ODPP) from completing its review and issuing charges beyond those already filed.
In a recent interview with The Gleaner, DPP Paula Llewellyn confirmed that while significant progress has been made, the Financial Investigations Division (FID) has yet to provide key evidence necessary for a ruling. She emphasized that her office cannot move forward until the missing documents are submitted, stating that she understands the public’s frustration but must ensure due process is followed.
The only person charged so far is Jean-Ann Panton, a former SSL client relationship manager, who faces a 21-count indictment including fraud, forgery, and larceny as a servant. Bolt said he doesn’t believe that it was only one person involved in the fraud. Authorities have hinted at additional charges, but no timeline has been provided.
The Jamaican government is also locked in a legal fight for control of SSL, which is currently under the supervision of a court-appointed trustee. The firm’s assets, valued between $107 million and $254 million, fall far short of covering its $1.03 billion in liabilities, making full restitution unlikely.
With victims still waiting for justice, Bolt’s public stance has reignited scrutiny over the investigation. Whether his push will speed up the process remains to be seen, but for now, the world’s fastest man is demanding action—and his money.
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