Usain Bolt

The fraud lasted 13 years and also ensnared elderly clients and government agencies. Authorities don't yet know how much was stolen.

He added that the government will soon approve stiffer penalties for white-collar crimes. Clarke said clients were given false statements regarding their balances as part of the alleged fraud. The fraud lasted 13 years and also ensnared elderly clients and government agencies.

Legendry Olympic sprinter Usain bolt recently lost $12.7 million in a scam. Now the Jamaican government has asked the FBI for help.

The news outlet also reported that investors lost a staggering $3 billion because of the scam. Initially, Jamaican news outlets like The Gleaner reported that 30 individuals besides the Olympian lost their savings. Only time will tell if partnering with the FBI leads to the arrests of the fraudsters. The investigation uncovered many discrepancies in SSL operations, like skipping authorization for transactions and “This is a body blow to Jamaica and has the unfortunate impact of tarnishing Jamaica’s global reputation,” said Dr. ADVERTISEMENT

The Jamaican government also asked other unnamed international partners for help in investigating one of the island's largest fraud cases, finance minister ...

He added the government will soon approve stiffer penalties for white-collar crimes. “If you rob depositors or you defraud investors… Since then, the commission’s director has resigned, and Mr Clarke has placed the Bank of Jamaica in charge of regulating the island’s financial system.

Jamaica's government has asked the FBI for help as it investigates the massive $12.7 million that's reportedly gone missing from Usain Bolt.

Clarke explained that the government will also seek forfeiture of any assets that were purchased using the alleged stolen funds, with the government soon approving stiffer penalties for the crimes. The investigation has begun against the Kingston-based investment firm, with Clarke saying that clients were given false statements regarding their balances as part of the alleged fraud. “The anger and unease we all feel have been magnified by the long duration over which the fraud was allegedly perpetrated, and the fact that the [suspects] seemed to have deliberately and heartlessly targeted elderly persons, as well as our much loved and respected national icon, Usain Bolt,” Finance Minister Nigel Clarke said on Monday.