It is June 30, the last day in June and members of at least two(2) Alternative Investment Clubs have been left bitterly disappointed. OLINT, and its affiliates, and MAY DAISY have sorely disappointed their members and for every day that goes by, hope fades rapidly. Only the those who seem to have connections or unbelievable faith, stand unshaken.
OLINT Failing and more excuses
The David Smith led OLINT, despite elaborate payment plans to pay outstanding interest and encashment request for January – April, has failed to do so in the main. There have been a few fortunate persons but from all indications the majority have been left like dogs panting for a drink of water with no watering hole or pan in site. Indeed even high level meetings were held Sunday June 22, 2008, in an attempt to quiet the growing disquiet among big players, including directors of affiliate clubs. The latest excuses center around more due diligence and broker problems.
July 2, 2008 has strangely become the new marker for OLINT when it is alleged that US $240/250 million should be released to OLINT to facilitate payments. Based on the limited information available it appears that payments have been again postponed, once again, and the June 27 deadline has now been apparently shifted to July 25/28, 2008.
OLINT faces a serious challenge, as some requests made in May and June are also now due, so in effect January to June 15 requests and interest payments will become due in July.
May Daisy in cycle but no bloom
May Daisy Cycles seem to be carrying persons in circles. As one season changes to another the expected blooms have not occurred. While there are mutterings of a person or two getting payments, of the very few that have gotten something back, most have received only a small fraction of what they requested or are due. For those that expected Daises to bloom by now, the disappointment has been to see dead or dying daisies in Garden.
On May 31, May Daisy officially closed all Jamaican accounts, citing the aggressive nature of its Jamaican members but what did they expect. Persons not getting paid to simply keep quiet and behave like “lambs to slaughter”? A recent release by May Daisy’s management indicated that there might have been a change of Management but the details are sketchy.
The question is how many more broken promises, how many more excuses and possibly lies will be told. We are now into the Summer months, and many members are finding their plans blown away by the storms of disappointments. Our advice to people, save yourselves further disappointments, DO NOT PUT ANY MORE MONEY IN OLINT OR ITS AFFILIATES OR ANY AIS at this time. Think and check before you invest. Memories of Cash Plus and Higgins Warner still linger.
We know what ‘D’ stands for, the question is what does ‘S’ stand for?
- OLINT Failing
- Payment Delays and Problems abound
- May Daisy – No comfort for investors
- The value of regulation and disclosure