Bolt’s account is now allegedly at just $12,000 after originally holding $12.8 million.
“If this is correct, and we are hoping it is not, then a serious act of fraud larceny or a combination of both have been committed against our client,” Bolt’s attorneys said in a letter to The Associated Press.
Lawyers say they will take civil and criminal action if the money is not returned within the next 10 days.
Jamaica’s Financial Services Commission is investigating Stocks & Securities Limited, the firm in question.
“We understand that clients are anxious to receive more information and assure you that we are closely monitoring the matter throughout all the required steps and will alert our clients of the resolution as soon as that information is available,” the commission said.
Bolt’s lawyers sent the letter Monday, the same day that Jamaica’s Financial Services Commission announced it was investigating the firm. A day later, financial authorities said they were assuming temporary management of the private investment firm. It is allowed to keep operating but needs approval from the government for any transactions.
Bolt holds the records for the 100- and 200-meter (9.58 and 19.19 seconds, respectively), and he is a part of the 4×100 team that ran a world record 36.84-second race at the London Olympics in 2012.
The Associated Press contributed to this report.