Usain Bolt.
February 17, 2025
Is Bolt being used by surrogates?
Dear Editor,
I empathise strongly with one of our greatest sons, track legend Usain Bolt, who reportedly lost a major investment he made in failed and fraud-riddled investment firm Stocks and Securities Limited (SSL).
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However, I was disappointed to hear Bolt suggest during an interview on popular podcast The Fix that “this is Jamaica” and, therefore, the Government should be able to figure out how to assist him to recoup his investment. Bolt made the comment when one of the interviewers pointed out to him that SSL is a private firm which was affected by fraud and cases, including his, are before the court, which may involve a process of restitution after criminal proceedings are concluded. I wondered: What does he mean by “this is Jamaica”.
I was also not impressed by a statement put out by Bolt’s attorney, Linton Gordon, which was tweeted from his client’s page, which again suggested that the Government of Jamaica has a responsibility to assist him in recouping his investment.
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I wonder if Bolt is being misled by those close to him, because it’s widely known that is not how the world works. Across the world, governments do not have a fiduciary responsibility to fraud victims who invest in private financial institutions and are fleeced. This does not happen in any democratic country, or undemocratic ones for that matter. Taxpayers monies cannot be coughed out for such a purpose, and it is a separate arm of the State, the judiciary, which deals with restitution arising from fraud.
Additionally, there are independent regulatory bodies, including the Financial Services Commission (FSC) in Jamaica, which exist and are expected to do their jobs to assist the supervision and/or good functioning of institutions. However, a Government, whether formed by the People’s National Party (PNP) or Jamaica Labour Party (JLP), does not have the authority to instruct the locking down of an institution. It appears Bolt has been misled into believing that such a duty rests with a Government of the day.
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Bolt also threatened to talk to the international media while quipping “poor Jamaica”, if more is not done by the Government. I hope he was not suggesting that he is prepared to burn the house down because he believs Government has a duty to help him recover from the fraud.
I also note that the comments by Bolt and his lawyers which suggest they intend to “pressure the Government” have come as bloggers who appear to support the Opposition party have been pushing on social media the narrative that an official currently in Government stole Bolt’s funds. How preposterous!
What is ironic is media reports which have quoted documents said to indicate that the majority of Bolt’s investment, 86 per cent, went missing between 2012 and 2016 when the Opposition PNP was in office.
Given the narrative over the past few months on social media and comments/social media posts made by Bolt, I really hope the track icon is not allowing himself to be used and abused by surrogates of the PNP during an election year.
Brian Nunes
briannunes712@yahoo.com
