Jamaican sprinting icon Usain Bolt has finally broken his silence on the massive fraud at Stocks and Securities Limited (SSL), which led to him losing approximately $12 million USD. In a candid interview with The Fix podcast, Bolt voiced his frustration with the Jamaican government’s handling of the issue and made it clear that he expects to see restitution for his losses.
“If this happened to me and it’s been two years, and I still haven’t seen a dime… you really start to evaluate things,” Bolt shared, highlighting how the scandal has made him reassess his role as a public figure in Jamaica.
The SSL fraud, which came to light in January 2023, has been an ongoing saga of fraudulent activities stretching back over a decade. Over 200 clients were affected, with total losses surpassing $30 million USD. For many victims, including Bolt, the prolonged investigation has been a source of deep frustration, as they feel authorities have not done enough to bring about a resolution.
Bolt Criticizes Government Response
Bolt has been vocal in his criticism of the government’s response to the situation. Despite discussions with officials, Bolt stated that “nothing has materialized,” accusing the government of not acting decisively enough. He expressed that the situation has reached a “stalemate.”
“The government alone really can’t do much about this,” he said, emphasizing that only the authorities have the power to ensure justice is served.
When asked whether legal action is a possibility, Bolt did not rule it out. “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 previously chosen to remain silent to avoid tarnishing “Brand Jamaica.” However, he now believes that public pressure may be the only way to get the authorities to act.
“Clearly, it looks like if I don’t start applying some pressure, I’m not going to get back anything,” Bolt added, hinting that he may take his fight to international media if necessary.
Ongoing Delays in SSL Case
Meanwhile, the legal proceedings surrounding SSL remain bogged down in bureaucracy. Nearly two years after the fraud was exposed, key evidence is still missing, preventing the Office of the Director of Public Prosecutions (ODPP) from completing its review and issuing additional charges.
In a recent interview with The Gleaner, DPP Paula Llewellyn confirmed that while progress has been made, the Financial Investigations Division (FID) has yet to submit critical documents needed for a ruling. She acknowledged the public’s frustration but stressed the importance of following due process.
So far, only Jean-Ann Panton, a former SSL client relationship manager, has been charged. She faces a 21-count indictment that includes fraud, forgery, and larceny as a servant. However, Bolt believes that the fraud was not the work of just one person. Authorities have indicated that more charges could be forthcoming, but no timeline has been provided.
In addition to the ongoing legal challenges, the Jamaican government is embroiled in a legal battle 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, are far from enough to cover its liabilities, which exceed $1.03 billion, making full restitution unlikely.
As victims continue to wait for justice, Bolt’s public stance has put renewed pressure on the investigation. Whether his push for action will accelerate the process remains to be seen, but for now, the world’s fastest man is demanding both justice and restitution.
