Usain Bolt's lawyers say Olympic champion is missing $12.7m from his bank account

Usain Bolt is missing more than $12.7 million (£10.3 million) from his account with a private investment firm in Jamaica, according to his lawyers.

In a letter shared with the Associated Press, the eight-time Olympic gold medalist sprinter's legal team have written to Stocks & Securities Limited demanding the money be returned.

"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 legal team wrote.

One of his attorney's, Linton P. Gordon, said his client's account once had $12.8 million (£10.4 million), but now reflects a balance of only $12,000 (£9,800).

They have threatened civil and criminal action if the money is not returned within ten days.

Stocks & Securities Limited has asked on its website that clients direct all urgent queries to Jamaica's Financial Services Commission, which is investigating the firm.

"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 company said.

It added it discovered the fraud earlier this month and that several of its clients may be missing millions of dollars.

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Jamaica's finance minister, Nigel Clarke, has called the situation alarming, but noted its unusual nature.

"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," he said.

Bolt's lawyers sent the letter on Monday, the same day that Jamaica's Financial Services Commission announced it was appointing a special auditor to look into fraud allegations at Stocks & Securities Limited, which is based in the country's capital, Kingston.

By Tuesday, financial authorities said they were assuming temporary management of the private investment firm.

Under the arrangement the firm is allowed to keep operating, but needs approval from the government for any transactions.