Usain Bolt
February 14, 2025
Bolt’s lawyer slams ‘victim-blaming’ in SSL scandal, claims gov’t failed investors
KINGSTON, Jamaica — The attorney representing Usain Bolt in the Stocks and Securities Limited (SSL) fraud case where US$12 million was swindled from his investment account is condemning the public for what he described as “victim-blaming” and calling out the government for “failing to protect investors”.
Bolt, one of more than 200 clients whose funds were stolen from their investment accounts, has become the subject of growing public debate, triggered by comments he shared on a popular podcast earlier this week.
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In his first media interview on the matter with The Fix, Bolt expressed frustration over the ongoing struggle to recover his money.
READ: ‘I have to say something’: Having lost US millions in SSL scandal, Bolt now losing patience
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The interview sparked widespread public discussion, with some, including political figures such as Venesha Phillips of the Jamaica Labour Party (JLP), questioning Bolt.
In some instances, questions were raised about whether all of Bolt’s funds had actually been deposited into SSL, with some pointing the finger at Bolt’s team.
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However, in a statement issued on Friday, his attorney Linton Gordon criticised the narrative of victim-blaming, stating, “This is a textbook case of victim-blaming and it appears to be an attempt to absolve the government of its failure to protect the public and those defrauded by SSL. Even more concerning is the apparent attempt to silence victims and manipulate the narrative about who is truly responsible for this large-scale fraud, which has left hundreds of Jamaicans without their hard-earned money and no clear path to recovery.”
He further sought to clarify that the allegations that all of the athlete’s funds were not sent to SSL are “false, baseless and entirely without credibility”.
In addressing the matter he said: “All funds lodged at SSL by Mr Bolt’s company were transferred via bank transactions and each and every payment was acknowledged by the institution in writing. Furthermore, Mr Ken Tomlinson, who was appointed by the Financial Services Commission (FSC) to take temporary management of SSL, found records confirming these lodgements and has attested to them in the Supreme Court. Therefore, any suggestion that funds from Mr Bolt’s company, Welljen Ltd, did not reach SSL is inaccurate and without merit.”
Gordon also responded to accusations of negligence on Bolt’s part, calling them “entirely unfounded”. He pointed out that the Jamaican government, including Prime Minister Andrew Holness, along with hundreds of other citizens, had invested in SSL, an institution approved and regulated by the government.
“To suggest that Mr Bolt was careless or lacked proper financial management is to imply the same about every Jamaican who has invested in a government-approved financial institution,” he said.
Bolt’s attorney emphasised that the FSC had issued SSL an annual license to operate and said every citizen should be able to rely on the government entity responsible for overseeing and regulating such institutions.
Noting an organised effort to shift blame onto the athlete who is decorated for his representation of Jamaica on an international level, the attorney said Bolt is guilty of nothing more than investing in the country that he loves.
He also pointed to a previous announcement by the government that it invited experts from the United States of America and the United Kingdom to conduct audits and investigations into the operation of SSL. Yet, no audit findings or investigation results have been shared with Bolt or his legal team, the attorney said.
“However, based on reports circulating in the media, it appears that parts of the investigation are being shared with a certain media house including what purports to be information touching and concerning our client’s account at SSL; information that is confidential and entitled to protection under the law,” Gordon said.
He said his legal team is currently reviewing some of the statements that have been made and will advise our client on the legal actions available to him.
