Usain Bolt, the legendary record-breaking Jamaican sprinter, has recently been caught up in a $12 million fraud case. In June 2020, three of his business partners were arrested and charged with conspiracy to defraud the government, conspiracy to commit fraud, and money laundering. This case has left many wondering what exactly happened and what the outcome of the trial will be. In this post, we will take a closer look at the Usain Bolt fraud case and explore the details behind it.
The fraud case was reported in 2020, when Usain Bolt’s business adviser, Jeffrey Slade, was accused of misappropriating Bolt’s funds. Slade had allegedly convinced Bolt to invest in a foreign exchange trading scheme, which promised a return of over $20 million. Bolt invested $12 million, but the returns never materialized.
Usain Bolt’s net worth has been estimated to be around $90 million, making him one of the highest-paid athletes in the world. He’s the only athlete in history to win the 100-meter and 200-meter races at three consecutive Olympic Games.
Even with this huge net worth, this million dollars fraud case has put a dent in Bolt’s finances. Bolt and his partners were promised huge returns on their investments, but instead, they were left with nothing.
The case has raised a lot of questions about how Usain Bolt and his team lost so much money. According to reports, Bolt and his partners were promised high returns on their investments and they were promised the latest technology in shaving. However, the promised technology never materialized, and Bolt and his partners were left with nothing.
Usain Bolt and his team are now in the process of trying to recoup their losses. They have filed a lawsuit against Champion Shave and its directors for fraud, breach of contract, and negligent misrepresentation. The lawsuit also alleges that the company failed to provide the promised technology and that the promised returns were never realized. Regardless of the outcome, it is clear that Usain Bolt has been the victim of a major financial scam. This case serves as a lesson for all investors, including Usain Bolt, to be vigilant when it comes to their money.