I-Trade and Martinez Response Delayed

The NFA is reporting that I- Trade FX and Isaac Martinez’s response, to the June 30, 2008 complaint, should be available on August 15, 2008. According to the NFA information desk, an extension was given and as soon as the response is available it will be posted on their web-site. They further stated that there was nothing [...]

HCU Collapse in Trinidad

The Hindu Credit Union which collasped in Trinidad recently is being compared to the O(Zero) and Cash Minus collapse in Jamaica.
The overnight disappearance of the HCU empire is certainly reminiscent of Jamaica’s severe problems with OLINT Financial Corp and the March 2008 decision of the High Court of Jamaica to place Jamaica’s Cash Plus into [...]

Bail conditions relaxed

The Cash Plus three, Carlos Hill, Bertram Hill and Peter Wilson, returned to court yesterday, July 30, 2008 to answer various charges. The case was again put off but news of the day was the decision of Judge to relax the bail conditions. The defence lawyers had argued that the bail conditions was onerous. 
Today [...]

MTI says – Scams,Schemes, Scandals!

“There is nothing crueler than a violation of one’s personal trust or an abuse of someone’s loyalty.” That is how an advertistment in the Sunday Gleaner in Jamaica starts. This AD raises more than just a few eyebrows it warrants serious reflections.
Background
To put everything in perperspective let us set the framework. Market Traders Institute(MTI) founded [...]

MTI AD

Here is the Full Text of the MTI AD that appeared in the Sunday Gleaner July 27, 2008
Full Advertisement
There is nothing crueler than a violation of one’s personal trust or an abuse of someone’s loyalty. Many Jamaicans have joined various FOREX Investment Clubs to help them take advantage of the money than can be made [...]

Sage One: In Vision

And it came to pass that after buning a chalice full of calli weed The Sage One fell into deep meditation and a vision was revealed.
And beheld a small group of denizens who with gnashing of teeth called for brimstones and fire to rain down on he who used to be the Worshipped of The [...]

OLINT starts to Fight back

Radio Jamaica is reporting that OLINT’s legal team, led by Lord Anthony Gifford, was in the judge’s chambers in the Turks and Caicos on Monday, July 28, 2008. It is understood from the report that they have started presenting arguments why the assets of OLINT should not be frozen.
The assets were frozen on July 14, [...]

Court Tells NCB NO!

The National Commercial Bank’s  application for leave to go to the Privy Council was this morning turned down by the Court of Appeal. NCB wanted to challenge the Court’s ruling that OLINT accounts should remain open.
Instead, the court has directed NCB to return to the Supreme Court and seek to have a speedy trial. The [...]