Usain Bolt
By Kimone Witter
The Temporary Manager of Stocks and Securities Limited has confirmed the existence of an account belonging to Olympian Usain Bolt at the investment firm.
In a statement to the media Tuesday, Finance Minister Dr. Nigel Clarke said the account is in the name of a limited liability company owned by Bolt.
Dr. Clarke says the account dates back to 2012.
Lawyers representing Usain Bolt have said he was fleeced of US$12.7 million or nearly J$2 billion at the financial entity.
Stocks and Securities Limited is under investigation following the uncovering of a 13-year multi-million US dollar fraud scheme at the company.
In light of the fraud, several policy changes were announced on Monday for the securities dealers sector, including a review of the penalties regime in the Securities, Banking, Insurance and Pensions Acts.
Securities dealers will also have to publish their financial statements and material events at standards equivalent to public companies listed on the Jamaica Stock Exchange.
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