Usain Bolt, a Jamaican Olympic sprinter, reportedly lost $12 million from an account he had with Stocks and Securities Limited, an investment company in Kingston.
According to his attorney Linton P. Gordon, Bolt recently learned that there was only around $12,000 left in the account, according to Bloomberg.
It was said that Bolt had saved money for retirement and his entire life in the account.
"This news is upsetting for anyone. And undoubtedly in the instance of Mr Bolt, who created this account as a component of his private pension, according to Gordon's statement on Wednesday.
Tuesday saw the announcement by Jamaica's Financial Services Commission that it had appointed its own temporary manager at SSL in response to concerns of alleged fraud, which had earlier led the commission to increase supervision of the bank.
Gordon claimed that neither he nor his client has received any communication from regulators, and he added that if Bolt does not receive the money back within eight days, he intends to take the matter to the Supreme Court in Kingston.
Bolt, who has won eight Olympic gold medals and holds the 100- and 200-meter world records, is regarded as the fastest man alive.