Usain Bolt's lawyer says SSL received the millions defrauded from his investment

    

A member of track star Usain Bolt's legal team, attorney Linton Gordon says the approximately US$12 million that was defrauded from his investment at the failed brokerage house, Stocks and Securities Limited (SSL), was received by the entity.

 

Furthermore, Mr. Gordon says all funds lodged at SSL by Mr. Bolt's company, Welljen Ltd were transferred via bank transactions and every payment was acknowledged by the financial institution in writing.

 

Mr. Gordon says allegations that not all of Mr. Bolt's funds that were sent to SSL were received by the institution are false, baseless, and entirely without credibility.

 

In a Letter to the Editor, the attorney added that Ken Tomlinson, who was appointed by the Financial Services Commission to take temporary management of SSL, found records confirming these lodgments and has attested to them in the Supreme Court.

 

In a subsequent interview with Radio Jamaica News, Mr. Gordon said there appears to be an organised effort, with political undertones, to shift blame onto Mr. Bolt.

 

"Persons are inventing things to remove the blame from the authorities and from SSL and to place it onto Mr. Bolt. It's called victim blaming," the attorney complained.

 

Mr. Gordon said the legal team is reviewing some of the statements that have been made and will advise Mr. Bolt on his available legal actions.

 

The SSL matter, in which more than 200 people were defrauded of over $4.7 billion, returned to the spotlight this week after the sprint legend, speaking on a podcast, said the government was not doing enough to conclude the investigation or assist in recovering his funds.

 

The massive fraud and irregularities at the investment firm came to public attention in January 2023. 

 

In the meantime, Mr. Gordon said his client does not expect the government to refund his stolen money as he, too, expressed dissatisfaction with the pace of the criminal investigation.

 

"This is our position. Steps should be taken to have the matter properly investigated, including tracking the funds to see who took it, and bring those persons before the court so that the funds can be recovered from them. Whoever is out there saying Mr. Bolt expects his money back from the government, Mr. Bolt has not said that, and the case before the court is not against the government. Mr. Bolt's case is against SSL," he insisted.    

 

As he lamented the slow progress of the investigation, the attorney said he wants more information-sharing with those affected by the fraud.

 

"We are not satisfied that the matter has been investigated with the speed it ought to have been investigated. And we are concerned that up to now, one person has been charged, a low-level person at the entity, and we have not heard any demand from the investigators made against the persons who are in charge, the head of the stream, the leaders. We haven't heard anything regarding the investigation of their conduct and performance. And let us call a spade a spade. It's not that Mr. Bolt walked into SSL with a bag of money, or a basket of money, so people could grab and run with it. The money was transferred by bank to bank, or bank to SSL." 

 

Jean-Ann Panton, the former SSL client relationship manager accused in the case, is facing a 22-count indictment, charging her with forgery, larceny as a servant, and engaging in a transaction involving criminal property.

 

Director of Public Prosecutions Paula Llewellyn told the Gleaner that her office is ready to prosecute the case against Ms. Panton, but said she has changed her attorneys, suggesting this has caused a delay.

 

The DPP is anticipating that by the end of the month, outstanding documents will be forthcoming from the Financial Investigations Division which will determine if other charges are laid in the case.