x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   Income Tax fraud: Employees claim to "donate" 50% of their salaries to political parties | SMC smells ‘multi-crore nasty plan’ in executive committee meeting | More BJP wins in elections, more protests it will face from opposition: PM Modi | Despite claiming non-practicing allowance, docs indulge in pvt practice | J&K policies, situation worthy of investment: Amit Shah | India, Africa partnership essential for regional peace: Rajnath Singh | China aims to replace US as global net security provider: Army Chief | J&K Excise Policy 2023-24, introduces new initiatives to boost revenue | Govt transfers 20 JKAS officers | Z-Morh tunnel on Srinagar-Leh Highway to be inaugurated next month: Gadkari | Secretary Health reviews COVID-19 situation with stakeholders | PAN, Aadhaar card linking deadline extended by 3- months | Rahul Gandhi's disqualification from Parliament India's internal matter: Anurag Thakur on US official's statement | Development narrative of BJP 'castle in air', ground reality exactly opposite: RL Gupta | Jammu Police organises T20 Cricket Tournament under Civic Action Programme | High Court upholds life-imprisonment awarded to Hizbul terrorist | Players from J&K to participate in Speedball Championship | Ben Stokes to play as specialist batter at start of IPL 2023 | Mayers or Hooda likely to open with KL Rahul in LSG's first two games | Australian cricket team love to hate Cheteshwar Pujara: Josh Hazlewood | Chennai Super Kings' Ben Stokes to play as a specialist batter at the start of IPL 2023 - Report | Indian Weightlifter Bharali Bedabrate bags World Youth Championships bronze | Australians love to hate Pujara: Hazlewood | GLDM College organizes Road Show | Centre working to reduce logistics cost to GDP to 7.5% in 5 years: Amit Shah | Only filing cases against hate speech won't solve the issue: Supreme Court | Bombay Lawyers' body seeks action against Vice President, Law Minister | Watali moves Delhi HC against charges framed | Easy address change process in Aadhaar major cause of cyber fraud: Police | Cong's chance to regain lost ground 'bleak': Kavinder | Jewelers Awareness Program organized by BIS-JKBO | DC Reasi flags off 'Run for Unity' rally | Budgam Police arrests 4 involved in robbery, stolen property recovered | JCB operator dies in avalanche in J&K's Anantnag | Attendant injured after scuffle with security guard at SDH Sopore | IAF's 'Kargil Courier' airlifted over 3,000 stranded passengers this winter | Kavinder vouches for fair, timely compensation for acquired lands | DDC Rajouri leads meeting to review implementation of PC&PNDT Act | Course on "Investigation of Cyber Crime" commenced | J&K govt gives big push to promotion of 'NADRU' of Dal Lake | District Level NCORD Committee meeting held | Back Issues  
 
news details
Usain Bolt fires business manager over Jamaica fraud case
1/28/2023 10:30:56 PM
agencies
NEW DELHI, Jan 28: Jamaican sprinter Usain Bolt told reporters Friday that he is baffled over how USD 12.7 million of his money has gone missing from a local private investment firm that authorities are investigating as part of a massive fraud that began more than a decade ago Bolt also said he has fired his business manager, adding that it was not an amicable split.
When asked if he was "broke," the retired star athlete laughed.
I'm not broke, but it's definitely put a damper on me," he said.
"It was for my future. Everybody knows I have three kids. I'm still looking out for my parents, and I still want to live very well."
Bolt's attorneys have said the athlete's account with Kingston-based Stocks and Securities Limited dwindled from nearly USD 12.8 million to some USD 12,000. They had given the company until Friday to return the money or face civil and criminal action.
It wasn't immediately clear whether any action had been taken as of late Friday. Attorney Linton P Gordon did not return a message seeking comment.
He told the Jamaica Observer newspaper that the public should anticipate the "expected and the unexpected" in the case.
"There is nothing to say at this stage, given what is happening," he was quoted as saying.
"We have met with persons, and we are dealing with certain matters."
Earlier this week, Jamaican Finance Minister Nigel Clarke announced that the director of the Financial Services Commission was stepping down and that the Bank of Jamaica would now be in charge of regulating the island's financial system.
He said several government agencies and elderly customers also were affected by the alleged fraud.
"It's always a sad situation. Definitely disappointed," Bolt said of the elderly who were affected.
"Everybody's confused. … I'm as confused as the public."
Jamaican authorities have requested help from the FBI and other unidentified international experts, adding that clients were given false statements regarding their balances as part of the alleged fraud. Officials have not yet said how many clients overall were affected and how much money in total is missing.
Earlier on Friday, Bolt spoke at a sponsored luncheon for an upcoming relay and referred to the alleged fraud.
"As you all know. I've been going through a tough week, a few tough weeks," he said, adding that he would continue to do everything he can to uplift his island.
"No matter what's going on right now, Jamaica is my country. That will never change," he said.
In an aside with reporters, he said: "I'm just trying to focus on my family and trying not to think too much about it because it's a difficult situation."
Stocks and Securities Limited did not return a message seeking comment Friday. The company contacted authorities earlier this month to alert them that a manager had apparently committed fraud.
Earlier this week, Jamaican Prime Minister Andrew Holness announced that his administration would not bail out the company.
"The government will not socialize any debt, and we will not socialise the failure of our banks," he said.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU