Three former senior officials charged in Usain Bolt fraud case

PNN Staff Report

Significant legal progress has been made nearly three years after the financial fraud involving the world’s fastest human, Usain Bolt. Jamaica’s collapsed private investment firm, Stocks and Securities Limited, has had formal charges filed against three former senior officials.

The charges allege that nearly £10 million (approximately 16.5 crore BDT) invested by the legendary sprinter was embezzled through fraud. The scandal, first revealed in 2023, created global attention in the sports world.

Investigations revealed that although Bolt’s account was supposed to hold around £10 million, only £9,700 was found. In addition to Bolt, nearly 200 other investors were also victims of similar fraud, according to investigators.

The newly accused individuals are former senior executives Hugh Crueskery, Sarah Maini, and Zachary Harding. They face multiple charges, including collecting funds through investor fraud, operating a securities business without a valid dealer license, violating corporate law, and breaching banking regulations.

While Crueskery and Maini have been granted bail with significant bonds, the trial remains under strict supervision. Harding has also been granted bail, though conditions were not disclosed. Previously, only one asset advisor faced charges in this case.

Bolt’s lawyer has long argued that it would have been impossible for a single individual to embezzle such a large sum, implying the involvement of an organized network. The charges against the three former executives now reflect this assertion.

The next hearings and legal proceedings in this case are being closely watched by the global sports and financial communities.