Why would we expect professional runners to be any different than basketball players, football players, tennis players, etc. Just because someone is a great athlete doesn't mean that they have a clue about finance or investing. Maybe he can get a job advertising for crypto exchanges.
The tweet is rather cryptic, and the article sheds little light on how employee fraud could cause a $1.2B scam involving $10M of Bolt’s money. Puzzling how they can move that much money without being trackable, even with crypto and such. Do we know more details about the scam?
The tweet is rather cryptic, and the article sheds little light on how employee fraud could cause a $1.2B scam involving $10M of Bolt’s money. Puzzling how they can move that much money without being trackable, even with crypto and such. Do we know more details about the scam?
Ok, so reading some more, it looks like his net worth is much more, having earned $33M in 2016 alone, in the ballpark of $100M, so thank goodness he didn’t lose most of his life savings. Must still hurt though and hope they recover it.
The tweet is rather cryptic, and the article sheds little light on how employee fraud could cause a $1.2B scam involving $10M of Bolt’s money. Puzzling how they can move that much money without being trackable, even with crypto and such. Do we know more details about the scam?
He used a boutique investment firm in Jamaica called SSL with 8,000 clients. $10 million represents about 4% of their total investments under management. Sounds like a member of the firm basically robbed him. Probably transferred the money to an offshore account or crypto account and left the country. I guess more will come to light in the coming days. A bit more like Bernie Madoff than most of the other athletes on my list that basically just blew their money. I don't know enough about Jamaican banking to know if the investment firm was reputable by their standards, or if he was simply using a friend to handle his money.
Since they are friends i think , Ronaldo should give him 30 Million as a gift, having recently signed obnoxious amount with some middle east football league..
This is also not someone that blew his money in dodgy investments etc, this is part of the SSL fraud, ie some of Bolt's money was tied up in there via his management who actually alerted the company a couple of times about issues. It's not like he was throwing his money around. It was fraud within an investment firm.
Perhaps a good idea before responding to have a read of linked article, and other info.
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