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Usain Bolt lost $12 million to a scam – do not repeat his mistake

Usain Bolt falls victim to a financial scam. Lawyers are demanding a return. Take a look at how you can prevent being scammed.

Did you receive an offer sounding too good to be true? It probably is. Almost all of us come into touch with investing opportunities shouting at us daily. It is really important to know how to defend yourself against fraud, so you won’t loose all your money.

Even celebrities are susceptible to frauds and scams. The latest victim of a huge financial fraud seems to be Usain Bolt. The Jamaican sprinter and gold medallist, has ultimately lost $12.7 million, which included his retirement and life savings. 

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Bolt is now examining the option of pursuing legal action. The sportsman had an account with Stocks and Securities (SSL) in Kingston, and shared that his current bank balance is $12,000. His attorney, Linton Gordon, has corroborated this piece of information. Bolts’ party is demanding a return of funds. Gordon stated:

“If this is true, and we hope it is not, then our client has been the victim of a significant crime of fraud, theft, or a combination of both.”

According to Stocks & Securities Limited, the scam was  found earlier this month and multiple clients may have lost millions of dollars to it.

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Tomáš is a financial reporter with US markets as his main field. He actively started in finance only recently, however has been surrounded by many analyst and reporting professiona...

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