Jamaican Olympic sprinting champion, Usain Bolt, experienced a significant loss on Thursday when $12 million was hacked from his account with investment company Stocks and Securities Limited. Bolt’s legal team has stated they are prepared to take legal action in order to recover the funds, which were part of the athlete’s retirement and lifetime savings.

In a statement from Bolt’s lawyers, they noted that the account was established “as part of his private pension,” and expressed disappointment at the situation. The investment company, Stocks and Securities Ltd, has stated that they were made aware of the fraud by a former employee and have notified law enforcement. The company has also implemented measures to secure customers’ assets and improve protocols.

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Jamaica’s Finance Minister, Nigel Clarke, has labeled the actions of the company as “alarming and evil fraud” and pledged to bring those responsible to justice.