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How Usain Bolt was scammed out of millions of dollars

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Usain Bolt was in tears when he attended the funeral of his late friend Germaine Mason

Usain Bolt, the fastest sprinter of all time, has met someone even faster than him – the person who stole $12.7 million from him.

The retired Jamaican athlete became the victim of a massive scam as he saw the $12.7 million he had in an investment company become $12,000 in just over two months. That happened at the tail end of 2022.

Usain Bolt’s lawyers had given whoever stole the money a 10-day window to return it. Despite this, the money did not return and Bolt was forced to try and take action.

The question is, where exactly has Botlt’s money gone? At the moment, neither he nor the FBI knows. Yes, it’s become a federal issue due to the enormity of the theft

The FBI investigates the facts

The FBI is investigating the events together with the Jamaican government, headed by the Minister of Finance, Nigel Clarke, who has apologized to those affected by the fraud and requested international assistance.

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The money he lost, held by a company known as ‘Stocks and Securities Limited (SSL)’, is obviously a huge blow to the former Olympian. Speaking to the Jamaican Observer, the sprinter said he was “not ruined, but he was hit” after losing a significant part of his assets.

“The losses have hit me. Everyone knows that I have three children and that I take care of my parents,” Bolt acknowledged in the Jamaican Observer.

In addition, Usain Bolt affirms that part of that money was going to be destined to go towards social work in Jamaica, since the athlete has always been very committed to all kinds of issues within his country.

‘I love my country’

“It is sad, because I have lost what I have worked hard for. But no matter what is happening, I love my country and I will always love it. I will do everything in my power to help,” said the athlete.

Bolt left a clear message on social networks. “In a world of lies, where is the truth? The Evil of History. What is the root? Money”.

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In addition to Usain Bolt, Nigel Clarke has reported that there are about 40 people more affected in the SSL fraud.

The amount of the fraud ascends, for the moment, to $3 billion dollars, which makes Bolt’s 12 million seem anecdotal in comparison.

According to Forbes magazine, Usain Bolt exceeded 100 million dollars in assets before these events occurred.

Far from broke

So despite the economic setback, the former Jamaican athlete should still have around $90 million of assets left.

Luckily for Usain Bolt, he plans to launch his own line of Puma sneakers – in true Michael Jordan style – if all goes well, he should quickly recover his lost fortune

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Kunle Solaja is the author of landmark books on sports and journalism as well as being a multiple award-winning journalist and editor of long standing. He is easily Nigeria’s foremost soccer diarist and Africa's most capped FIFA World Cup journalist, having attended all FIFA World Cup finals from Italia ’90 to Qatar 2022. He was honoured at the Qatar 2022 World Cup by FIFA and AIPS.

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London Marathon breaks record for largest number of finishers

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 London Marathon - London, Britain - April 26, 2026 General view of runners and spectators on Tower Bridge during the marathon REUTERS/Jaimi Joy

The London Marathon broke the record for the highest number of ​finishers in a marathon, with 59,830 ‌participants completing the course to surpass the mark of 59,226 at last year’s New ​York City event.

Kenya’s Sabastian Sawe ​shattered the world record to become ⁠the first man to run the ​marathon in under two hours, followed ​by Ethiopia’s Yomif Kejelcha, who also breached the two-hour barrier on Sunday.

“To then break the ​record of the largest number of ​finishers in the history of marathons underlines the ‌inspirational ⁠nature of the London Marathon. We are incredibly proud to have set a new Guinness World Record,” said ​Hugh Brasher, ​CEO of ⁠London Marathon Events.

In the women’s race, three women ran ​under two hours and 16 ​minutes ⁠in a single race for the first time ever, as Ethiopia’s Tigst Assefa ⁠defended ​her title by shattering ​her own women ‘s-only world record

-Reuters

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Ofili Not Alone in World Athletics’ Blockade of Türkiye’s Talent Raid

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Nigeria has aligned with the global athletics community in supporting World Athletics’ decision to reject 11 applications for nationality transfer to Türkiye, a move that includes sprinter Favour Ofili and signals a broader clampdown on the recruitment of foreign athletes.

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 Diamond League – Final – Zurich – Zurich, Switzerland – August 27, 2025 Jamaica’s Rajindra Campbell in action during the men’s shot put final REUTERS/Stefan Wermuth

The ruling, announced on Thursday by World Athletics’ Nationality Review Panel, affects athletes from multiple countries and was based on findings that the applications were part of a coordinated, government-backed effort to bolster Türkiye’s international competitiveness ahead of the 2028 Olympic Games in Los Angeles.

Rather than a single case, Ofili’s situation forms part of a wider group that includes five Kenyan athletes — among them former marathon world record holder Brigid Kosgei — and four Jamaicans, including Olympic medallists Roje Stona and Rajindra Campbell. Russian heptathlete Sophia Yakushina was also among those denied eligibility.

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Paris 2024 Olympics – Athletics – Men’s Discus Throw Victory Ceremony – Stade de France, Saint-Denis, France – August 08, 2024. Gold medallist Roje Stona of Jamaica celebrates on the podium. REUTERS/Aleksandra Szmigie

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London Marathon 2024 – Women’s Elite Press Conference – London, Britain – April 18, 2024 Kenya’s Brigid Kosgei poses for a photograph ahead of the London Marathon REUTERS/Peter Cziborra/File Photo 

World Athletics stated that approving the applications would undermine key principles guiding the transfer of allegiance, particularly the need to maintain the integrity and credibility of national representation in global competitions.

“The panel found that the applications formed part of a coordinated recruitment strategy… to attract overseas athletes through lucrative contracts,” the governing body said.

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For Nigeria, the decision is being viewed not as an isolated intervention but as part of a wider effort to protect countries that invest in developing athletes from grassroots to elite level, only to risk losing them to wealthier nations offering financial incentives.

Officials note that the rejection highlights growing concerns about the commercialisation of national allegiance in sport, where athletes are increasingly targeted through structured programmes designed to fast-track international success.

World Athletics President Sebastian Coe has previously warned against such trends, stressing that nationality transfers must reflect genuine national ties rather than transactional arrangements.

The regulations governing athlete transfers were tightened in 2019 to prevent abuse and ensure fairness, following increasing cases of athletes switching allegiance under financially driven circumstances.

Although the applications were rejected, World Athletics clarified that the affected athletes — including Ofili — remain eligible to compete in one-day meetings, road races and club competitions, as well as live and train in Türkiye. However, they are barred from representing the country at major championships such as the Olympic Games and World Championships.

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The decision is widely seen as a significant moment for global athletics, reinforcing the principle that national representation should be built on identity and development rather than financial inducement.

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Ogba Applauds World Athletics for Rejecting Ofili’s Allegiance Switch to Türkiye

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A former president of the Athletics Federation of Nigeria (AFN), Chief Solomon Ogba, has commended World Athletics for rejecting the application by Nigerian sprinter Favour Ofili to switch allegiance to Türkiye.

World Athletics, through its Nationality Review Panel, on Thursday turned down Ofili’s request to represent the European nation, citing concerns over the integrity of international competitions and the growing trend of athlete recruitment driven by financial incentives.

Reacting to the decision, Ogba described the ruling as a victory for fairness and a strong message in defence of developing nations that invest heavily in nurturing athletic talent.

“This is justice not just for Nigeria but for many developing countries that work tirelessly to groom athletes, only for them to be lured away by wealthier nations,” Ogba said.

The panel, in its report, noted that granting the transfer would undermine key principles, including safeguarding the credibility of national representation and discouraging the systematic recruitment of foreign athletes for global competitions.

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Ofili’s case was one of 11 applications submitted by the Turkish Athletics Federation, which World Athletics linked to a broader government-backed strategy to strengthen its team ahead of the 2028 Olympic Games in Los Angeles.

Despite having obtained Turkish citizenship and signing a lucrative club contract, Ofili remains ineligible to compete for Türkiye in major competitions such as the World Championships and the Olympic Games.

Ogba singled out World Athletics President Sebastian Coe for praise, describing him as a consistent ally of developing countries.

“How can a country nurture an athlete from grassroots level to elite status, only for another nation that showed no prior interest to come with financial inducements and take them away? It is unfair and must be discouraged,” he said.

The former AFN boss also advised athletes to remain focused and avoid making career decisions driven solely by short-term financial gains. He cited global stars such as Usain Bolt, Julien Alfred, and Eliud Kipchoge, who achieved success while representing their home countries.

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Ogba further warned athletes against external pressures from managers and associates, urging them to consider the long-term implications of switching nationality.

“Many athletes who left Nigeria often return after retirement seeking support. The reality is that your home country offers opportunities beyond competition — as coaches, administrators, and mentors,” he added.

He concluded by urging Nigerian athletes to remain loyal and committed, stressing that while opportunities abroad may appear attractive, long-term security and identity remain tied to their country of origin.

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