Originally published at: Finance firm tells sprinter Usain Bolt it doesn't know what happened to his $12.7 million | Boing Boing
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So the funds were lost due to dishonesty instead of the more common and wholly legal: “mismanagement”?
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“But, on the bright side, Mr Bolt; just look at the awesome Beanie Baby collection we purchased!”
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Before reading the post, I had assumed the bank had invested in NFT’s or some other crypto-adjacent instruments that were worthless, so it could as easily be NFT pictures of an awesome Beanie Baby collection. ^____^
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Piracy is hard work too, but that doesn’t mean we should place our trust in pirates.
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WTAF???
That’s seriously messed up.
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Poor guy. National hero to his country and then to get screwed like this (with the Gov even being rather malaise about it!). Very few athletes get to bank this sort of money (I’m not counting NFL/NBA/NHL types… some of their bigger contracts are simply obscene). Bolt deserves better.
Something tells me FDIC isn’t a thing over there.
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… or heard of audit trails, either. I feel sorry for him.
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My industry is precisely 99.9% finance dudes. They are not, in any sense of the phrase “hard working”. I’m sure their underlings are, though!
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Probably not going to get a great attorney for just $12,000…
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“It is tempting to doubt our financial institutions, but I would ask that we don’t paint an entire hard-working industry with the brush of a few very dishonest individuals.”
Yes, because when you rank countries by the strength of their banking regulations Jamaica is always at or near the top of the list.
No-one said these are competent crooks.
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Bank robbery is apparently less a crime when perpetrated by the bank.
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Did they check the couch cushions?
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Bolt has hired an attorney in an attempt to recover the lost funds.
There goes the remaining $12,000.
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You just had to bring piracy up in the Caribbean banking story, didn’t you?
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His money ran away.
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I’ve been closely watching this since the story broke - I’m subscribed to a Jamaican news youtube channel. Many juicy bits are missing from the ap summary.
One of ssl’s managers had been accused of the theft, and has since admitted to stealing J$billions from clients, many of whom are elderly.
When the head of the gov’t financial oversight committee was directly asked why nothing was done in 2017, after auditors found ssl was doing a lotta things wrong, he gave a mealy-mouthed non-reply, making noises about “non-disclosure” that made no sense.
When the same minister was directly asked whether ssl investors’ $$$ was insured, he once again gave an overlong non-reply, making noises that such funds are supposed to be insured, instead of simply saying, “We’re looking into that as part of our investigation.”
The channel interviewed former gov’t financial high mucky mucks, and current officials. They all said (I’m paraphrasing) “WTF is with these non-answers?!” “Their job is to protect the public, not the privacy of corrupt wheelers and dealers and their companies!” “WTF happened after 2017, anyway? Did ssl do anything to correct the BS that was going on? Did they follow any of the directions they’d been ordered to?”
I watched bits of the MMM (mealy-mouthed minister) giving his press conference, and he really pissed me off. I was so mad, I said to the tv, “You’re a corrupt piece of shit. How much did they pay you and yr minions to leave them to it? You need to resign! You also need to shave off that soul patch: you don’t deserve it!”
A couple hours day after the presser, MMM’s having been met with all kinds of backlash, as U can well imagine, fuck if he didn’t resign! He’s out at the end of the month.
ETA accuracy
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Just like a CEO! (With a good payout, the below the board type of course! Leaving with only a Severance package is for losers who don’t scheme well enough while still employed)
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Most of these are v short; the ones who aren’t do lead off w/the story.
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