investforlife
jay
nocotecOLINT TCI was one big PONZI. The liquidator site is now up (see link under sources). The documents appear to confirm much of what was thought and offers little hope to ‘investors’ now victims of either a speedy or significant settlement.
To date the monetary assets identified amount to US$13 Million dollars, money frozen in the USA (4 million est*.) and TCI (8-9 million est*). Deposits to OLINT TCI amount to over US$ 220 million.
The pattern of receipts and payments indicate that the main function of the (Hallmark/Olint) account was to collect in money from members ($220 million) and then meet redemption requests from members ($156 million). We can find no evidence in our analysis of the source and application of funds of any trading profits being received in the bank account to meet these redemption requests.”
In simple terms Olint TCI was in the business of meeting old club members’ request for redemption with new club members’ money. These redemption requests were not just for the principal, but the principal plus the trading gains that had been inflated to “eye catching” proportions to encourage more depositors. The characteristics of a classic Ponzi scheme.” - Page 5-6, Item # 18 Court Ruling TCI Supreme Court, Case CL No. 71/09
Despite this the declaration of OLINT TCU as a PONZI many questions remain on the status of OLINT CORP and Overseas Locket Corporation given David Smith’s relation to them along with the companies that are being wound up TCI-FX and OLINT TCI.
Please be aware that this appointment relates only to Olint TCI Corporation Limited (“Olint TCI”) which was incorporated in the Turks and Caicos Islands on 18 April 2006. It does not include Olint Corporation Limited, Oversees Locket International Limited or any other entity incorporated in Jamaica or elsewhere that may be linked to David Smith and Tracy-Ann Smith the shareholders of Olint TCI. - Court Ruling TCI Supreme Court, Case CL No. 71/09
By way of comparison Cash Plus was estimated to have taken in J$28-32 billion dollars. Using an exchange rate of US$1 to J$70 that amounted to over US$400 Million but remember Olint Corporation Limited, Oversees Locket International Limited are not included in the US$200 million dollar figure.
The liquidation order does not cover those companies. This is were some ‘investors’ now victims will have to look. JIJ investments is an also area that should be of interest but interests in Belize and Panama are worth investigating.
Time to forward claims
The following is taken from the site:
In the interim, to assist the Official Liquidator, claimants of Olint TCI are being requested to forward their claim along with the following information about their account(s):
- Name(s) of account holder and beneficiary
- Customer account number and member ID number
- Contact information, including address, telephone number, facsimile, and email
- Copies of all Contracts or Agreements
- Documentation showing funds placed with and withdrawn from Olint TCI e.g. copies of cheques, banker’s drafts or wire transfer instructions
- Statements received from Olint TCI
- Any other document that may substantiate a claim against Olint TCI
Claimants should with dispatch submit the requested documents.
Silent Media
It is of note that once again media in Jamaica is silent on this declaration. This is easy reporting, no allegations.
*- Estimates based on available information
Source:
Related
Filed under: UFOs
I guess this is the confirmation many was waiting for, oh no they say he has only been charged and he has not yet been found guilty of running a Ponzi.
Interestingly the liquidator seem to be corroborating what I wrote in the post ” How Olint stole your money and how David Smith planned to get away with it”.
On June 1, I wrote in part :
“David Smith gathers his lawyers and began the process of separating his client’s money from them, and actually making the clients facilitate this process unknowingly.
Olint created a what was later called a “private club members agreement” which was a new membership document which each client was told to sign and return or risked being kicked out of the club.”.
The new private member club had a new bank, that was “Hallmark”.
Story cum to bump.
Re: Silent Media,
Is so refreshing that one does not have to depend on the local media these days, as the internet as allowed people get seek information from a wide array of sources.
Something as big as this should have made the headlines in all the news papers, but once again they(the papers) have been found wanting.
Investforlife, I think we should notch this up a bit and launch our own internet news paper to investigate and publish corrupt practices in Jamaica.
Just a thought
This does reveal how the attempt at revisionist history by investors is just that, revisionist history. Recall that Olint TCI and the Hallmark connection were setup after DS fled JA after the FSC raid.
By then the FSC, the blogs and others were out in full force warning that DS was a conman and that Olint was a ponzi scheme. In spite of this in quick time foolish investors plowed US$220 million into the ponzi scheme.
They refused to think and check. A simple 30 minute analysis was enough to determine that it was a ponzi scheme. NOT to mention the countless warnings that were out by then. I suppose the old adage will always be true, a fool and his money are soon parted.
Note what is common in all these schemes… Little money is found at the end. And very little is found as so called hidden funds. Note that if the ponzi operator like DS stashes away say US $20 million, if he is successful this is a lot of money for him to live on in the future but is pennies when compared to the obligations of the scheme.
I repeat if investors ever see 10 cents on the dollar they will be lucky indeed.
Jay, there is areason the the media is silent. It is not accidental.Once the investigations get close to V,all the papers become silent.
JohnDoe:
“By way of comparison Cash Plus was estimated to have taken in J$28-32 million dollars”
The J28-32 million should read “Billions”!
———————————————————————————
According to the available information, US$220 Million was taken in by Olint TCI and there was US$156 Million in Redemptions, minus $13 Million on hand. So where is the missing US$51 Million?
O.K, PNP/JLP got US$12.2 Million, we still missing $38.8 Million. I wish we could see what the Feeder Clubs and Pigs collected/disbursed over this time period.
What i don’t understand is how the hell David think or taught he would get away free with this . Ponzi don’t make any sense to me because eventually you are going to be caught and you will not have the money
@moneygone
Nothing surprising about that… almost every crook thinks he will not get caught… the other guys got caught because they were not smart like me.
Do you think there are really many crooks out there that are thinking… I know I am going to get caught but I will do the crime anyway.
true true
david’s political friends gave him megalomania.Lord Gifford lied to him about the legal consequences.
Should just investors find ourself stupid for trusting david with ten % a month or should we feeled conned this is the question.
Here is a sobering thought for investors hoping to recover a substantial percentage of their investment. These figures from the liquidator support what some of us have been trying to explain…
According to the liquidator, OLint TCI had US$ 220 million received from investors and $156 million paid out as redemption requests. In other words 71 % of money received went back to investors. This is just classic ponzi scheme, money from later investors go to early investors.
This means there was 29 % left. Presumably this 29 % went to things like employee and non-employee compensation such as massive legal fees and PR fees of US $20,000 per month to DC. And moneys spent and splurged by DS and family.
So far leaving only $13 million or 6.5 % positively identified. In other words using just this basic calculation we have identified 77.5 % of the funds, leaving only 22.5 % unaccounted for. And we know what DS used personally, legal fees, employee, non-employee compensation, rent and other business expenses and donations etc would have eaten up a huge chunk of that amount. E.g. if we add political donations that is another 5.5 % gone leaving only 17 % unaccounted for.
Of course this is not an exhaustive analysis as funds in Olint (not O TCI) are not accounted for but one should expect a similar accounting.
Thus looking at this one can see that in a best case scenario at most only about 20 % of funds are recoverable and from this one can expect legal, accounting fees and other expenses to eat up a major chunk.
I was the first on the blogs way back to advocate that so called clawback be implemented, where those that received a ‘profit’ be forced to pay it back. Back then I facetiously said use Omar to implement it since he has a lot of experience with FINSAC using foreign companies to relentlessly pursue Jcans to get money. AS usual I was of course ridiculed by investors.
Clawback does not appear to be in the cards in JA and even if this was done, one could expect only a small percentage to be recoverable.
This means that investors for the most part will be left out in the cold, lucky if they ever receive 10 cents back on the dollar.
I have done the calculations. If theTurks Liquidator is paid, the Olint TCI claimants will receive nothing.The only investors who will get money are those sueing Martinez in the United States.
Jay why have you not commented on the Bette Gordon affidavits? As the paragon of virtue of this blog I thought you would have already pronounced. I wait with baited breath.
I have a question Ho chi minh: Why were the two-related cased filed in Broward County? It seems that the Bette Gordon and Dr. Paul Gordon are questioning this very same fact. Any insights….after all, you are a party to one of these lawsuits ……. aren’t you?
I will reserve my comments for some other time.
If Olint TCI is functionally bankrupt then the JLP Government in Jamaica should resign.
It is now known that the TCI Court Order did not preclude DS from paying back OLINT CORP. And now it has become known that he has been busy hiding money for the past 12 months.
What are the feeder clubs saying now? Still waiting on David Smith to pay?
RedP
Is this enough?
@ Robin Irie,
No , the fat lady has not sung as yet. He has only been charged, he has not yet been found guilty
Wah u seh RedP?
I concur!!
haha Gotta have faith man!!
Is is possible that DS still thinks he was not running a ponzi? I have heard of criminals who see no criminality in their crimes. There is a medical term for this…it is some sort of mental illness.
I sis possible after all that the guy is a nut job?
Olint has Ponzi elements yes sure. Yes people were warned that it was a Ponzi. Sure. Ponzi alone? Surely not.
Certain resources coming out for just a Ponzi? Even if the Ponzi was for 100 billion trillion?
That level of resources and equipment? hmmm.
That number of personell? hmmm ….around the globe?
So many hard drives infiltrated? hmmm So many eyes watching who is watching who watching who?
I see. Simple Ponzi. Case closed.
Anyone here interested in a prime piece of swampland suitable and already approved for a commericial skyscraper?
Let me know. hhaaaahaahahahaaaa
its soooo quiet on #4. last year StressedThenBlessed told them “be still”. They seems to be taking it too seriously
JohnDoe,
Check your email !!!
All the while, we out here in the trenches of the TCI, attempting to make a living, make ends meet, hold it together another week while the alleged ones, Boyz and Gangsta’s try to stave off the inevitable, take it on the chin once again for being present and accountable during this whole mess.
http://www.tcijournal.com/index.php?idsub=1384&id=8
The people of TCI use the term “Boyz ” just like the Jamaicans.
@ Robin Irie,
The driver Kevin seemed to have left the streering wheel causing the bus to get out of control and crashed.
There seemed to have been many injured and are hospitalized, leaving only a very who are able to actually write.
The driver I think was drunk having consumed 10% per month while at the wheels
that’s a good one Jay.
If the number 4 Bus now accepts the fraud/ponzi then where do we go from here?
Can people “tricked” by a Ponzi Scheme lead the country then?
I am hesitant to jump quickly to the Ponzi label for that has a host of consequences for the people who will claim to be tricked.
The majority of persons who ever blogged on the number 4 bus are largely Adult Christians.
As such I am sure they will apologise to those they maligned during their reckless drive without licence.
It won’t be too long.
Right Jay?
John Brown was tricked by a “ponzi/fraud.”
Should John Brown negotiate an International loan facility on behalf of Jamaica?
a) Maybe
b) Never
c) Yes
d) Only if full restitution is made to all victims including John Brown himself.
@Jay: Got the mail.. Will check….
@Robin Irie: Time for a Sage One..
@floridian: Ponzi Plus
[On monies that may be in the U.S. A.]
” The Official Liquidator is not in possession of these funds and is not at this time in a position to state if and when these assets will be recovered for the estate of Olint TCI.”
Now you damn right about that Mr. Liquidator!
The drivah of the #4 bus stopped getting his pr money since Olint’s money got frozen all over the place. The passengers realized their ride was on the road to hell, not to salvation.
Was it in one of the Wignall propaganda articles that DS said he would trade FX for JA supposedly like Australia…. did the finance minister ask him to forward more info… LOL. Good thing DS was not working with Carlos. With Carlos’ ability to produce fake documents, an entire country would have been part of a ponzi scheme. LOL. Lawd mi belly.
Nocotec,
As you mention the Govt. asking Mr Smith to trade. Would you or anybody else happen be able to explain the difference between what Mr. Soros did/does as a ‘foreign currency trader’ vs. what Mr. Smith claimed to do as a ‘forex trader’.
@theCynic
With the stock market you can do almost purely speculative trading, akin to day trading or you can do investing. In day trading you are using various methods to attempt to predict very short term movements in the price of stocks. Most positions are bought and sold intra-day (same day). In investing the shorter the period one attempts to predict, the closer the result is to complete randomness…. like predicting the toss of a coin.
In the other method one attempts to do some kind of fundamental analysis to predict the future price of a company’s stock. Such as the company has great or bad management and produces a service or product which will have future growth or decline. Positions are usually held for the medium or long term, anywhere from weeks to years.
Forex trading and foreign currency trading are similar. DS claimed to be doing FX trading where positions are usually held for short periods, usually minutes to less than a day. Most trading is short term and intra-day.
One can also take medium to longer term positions. For example you can take a position in JA and most Jcans intuitively do this kind of foreign currency bet… Buy US dollars and hold it for the medium/long term because we know the JA dollar will continue to decline over the long term. In JA such a position is a guaranteed winner over the long term.
A similar bet could be that because of massive federal deficit spending and borrowing the US dollar will decline v major currencies in the future. Of course this is still a gamble as other economies may develop even worse problems during the medium/long term than the US.
This 2nd method is using fundamental analysis to attempt to predict the future value of a currency pair. As the JA/US $ example I used shows, this latter method can yield good results over the medium/long term. But it becomes infinitely more risky and subject to huge losses if you now start to trade by predicting the value of the US v JA $ each day or each minute.
This is essentially what DS and others want us to believe they can do…. consistently predict the short term movements in a way such that they will yield ultra high returns over the long term. As usual such claims are usually false.
Nocotec, questions for you. Is it possible that a country’s debt could be paid off via FX trading?
If so, couldnt the govt hire people able enough to get the job done?? Or is it not a viable alternative for debt reduction? Too risky perhaps? Did Australia really and truly do it or is that rumour? If they did why cant we do the same?
Peace
RedP:
If it was that “easy”, all mature economies would have a fleet of full-time FX Traders, including the USA (they do have a huge debt too)!
Think of it this way, Martinez has being fooling Jamaicans and others about the possible windfall of FX Trading, yet it appears that most of his money was made from teaching Forex Courses. Now, if they are so good at Forex Trading, one would assume they would spend every waking moment around a computer screen, instead of living out of a suitcase and moving from country to country teaching courses.
Now i-Trade-FX is bankrupt, since they could not meet the $20 Million minimum in “Firm Capital”. What does that tell you RedP (sounding much like Floridian
)
Is david still in prison or did he make bail
nobody will get asny money. all guilty parties will go free.
perfect example. Ms Fullerton. She just got her conviction overturned !!!
She got caught red handed, yet she gone free
Fullertons case is in Jamaica. With Smith’s case in TCI a similar result is possible.
In the USA you may also get a similar result but only because of interferance by ‘influential’ persons. If so the ‘influential’ persons would themselves be indicted. americans don’t like people interfering in their affairs no matter how big you are in some Island States.
interfere if you must.
It’s a top of the line accomodation. The menu is grits soaked toast. No uptown and downtown insecurities either.
@RedP
Without even googling the Australia example, my guess is that it was something schemed up by DS and DC his pr guy. At best it would be grossly exaggerated.
FX trading on that scale would not be viable. One of the things with humans and this is super evident among Jcans… is that as soon as you start doing something successful and making a lot of money, immediately a zillion people pop up to imitate you. Pretty soon everyone is making very little money.
Let’s say JA was somehow able to hire some of the world’s best traders and they managed to average gains of 15 to 20 % per year. How long do you believe it would be before other countries figured out this was great idea for them too? They would start doing the same thing and now our traders are matched up against another set of the best traders… stalemate.
This is by the way is the same process why that guy figured out years ago that Madoff was running a ponzi. He initially worked for another firm and set about trying to reverse engineer Madoff’s methods so his firm could use it too. This led him to figure out that there was no way what he was doing is possible.
This is the process at work that prevents sustainable out sized returns over the long term. If you are making out sized returns eventually someone will figure out your methods and then start making counter bets against you, resulting in huge losses. I forget the name the big energy trading hedge fund that collapsed in 2007 because of this technique.
In other words if JA tried this, at best it would be successful for a brief period.
i don’t know if there will be an online recording of the interview just conducted on the radio with someone from TCI. quite interesting.
1. He (TCI guy) concluded that Jamaica does not seem to be remotely interested in taking any action in whatever form whether from investors or government. TCI people aren’t wasting any time.
2. DS has NEVER said if the money was there or not, all he says people are to do is pray.
3. He told listeners not to hold their breath. they probably will never see anything back and just need to move on with their lives.
i can certainly tell you that TCI certainly taking care of their own.
which station was that junkunno?
Feeder club oprtators are still telling investors to have faith in David Smith. Reminds me of Waco texas and the Branch Dividian Compound…Jim Jones even.
It appears that these people were so intoxicated by the OLINT returns, that they refuse to accept that he was a thief.
It is even more interesting that the Jamaican feeder clubs have largely refused (except a few) to take any legal action against the David Smith entities. Why is that?
I can only guess that many of these feeder clubs are praying (pun intended) that their mini ponzis are never exposed.
But we are getting close. It will be very easy for PWC to determine how much funds they deposited to Hallmark bank. Then we will see. The feeder clubs may be exposed to be worse that David Smith.
I guess they are feeling safe because they are in Jamaica and know that the authorities there will do nothing. This in part because even the JA government benefitted from the OLINT stolen funds.
So in JA, they will keep the can of worms closed.
Still on the money trail, though. Nothing new to report. PWC, it seems, will be slow but that could mean methodical. Hopefully everyone will get back a few pennies…but if you are in JA, you may well get nothing because your feeder club will remain silent.
@JohnDoe
The Sage is working on a thing man.
@RedP
RedP! yuh gaan back pon di bruk dung # 4 bus star? What do you make of the fat lady’s performance so far? Give us a critique man.
@Robin Irie
Haha No singin yet, maaaybe a throat clearing!!
Still, I have faith and am anxious for nothing, even in the face of adversity and these tough times.
Biz is very slow. My sales have dropped steadily over the last year, quite dramatically I might say. The feedback that i get from suppliers is that things are really grim islandwide.
So all in all star, I’m just praying hard for a turnaround for JA economy and trying my best to walk by faith and not by sight.
(Which is easier said then done haha)
Peace
Isn’t it interesting how DSaviour never even contest the liquidation of his scam?
He did but remember his lawyer Oliver Smith produced no case history or anything to support Smith’s position? The document is on this blog.
On Feeders
The only thing that David Smith Uses is the threat (and he chats it a lot) that who takes action will not be paid.
Well David nor Wayne or any of them were ever “Boss” to me. But to many they are.
They promise certain politicians money for them and theirs in the confines of thier Chaulk Sound home and even swear promise that certain individuals will never be paid by them.
The key thing to remeber here is that when them facing prison under them tail and start to beg certain people to take money in return for favor they probably not going to get it.
Not from certain corners for sure.
Most evidence remains out of the public view for now.
Smithy will soon learn a theory that most jagans don’t really believe to be true even in 2009 and that is:
Money can’t buy everything.
We need the Ja authorities to take action against David Smith. People needs to go to their local police stations and make reports of theft.
I am sure that some of these same folks would have been down to report it a long time ago if someone grabbed their wallet with 10 dollars in it (well, in Jamaica, maybe not 10 dollars, maybe 10,000…what is that money worth now?)
But here you have a thief taking millions of US dollars from them and they are still waiting, hoping that the thief will bring it back….I cannot understand…
I think most people need to realize that David Smith will not meet justice now: Because the idea of justice is an illusion don’t you understand the system guarantees David Smith safety because everyone is involved, Police, Russian Organize Crime, Government, and even multinational corps. They all needed OLINT so that they could operate in the black hole. That is why all investigative efforts in Jamaica and elsewhere have been ignored or undermined and that most who brings cases about really gets nowhere even when it reaches the Court of law. The only way that this can be stopped is not to seek justice in Jamaica but outside because once you do, there will always be collateral damage.
http://www.tcijournal.com/index.php?idsub=1391&id=8
Former TCI Premier sued by victims of OLINT scheme
http://www.caribdaily.com/article/172109/former-tci-premier-sued-by-victims-of-olint-scheme/
Larry, I concur…..
The “fertile tract in the desert” had phenomenal growth thanks to Olint.
They did shell out a sizeable portion of money to buy gas to fuel its phenomenal growth.
I suppose Mastercard so called Compass Card was used to pay out people’s money without their consent.
If david really theif everyone money i think him desire to die , thats my opinion how can someone be so unhearted it seems as if him only care about himself. Not even his friends or family david you should know better than to theif from so much people with out exepting something to happen.
Quiet today. Some in Court in US. Some in NE St. Catherine.
Why does mastercard want to go FEDERAL?
Hi GUYS
what is the word on Wildis’s TCFXtraders?. Arn’t the liqiudators done yet,?
When they are done, there will be no money left for investors
In the first case dealing with the privacy of internet bloggers, the judge ruled that Mr Horton had no “reasonable expectation” to anonymity because “blogging is essentially a public rather than a private activity”.
The judge also said that even if the blogger could have claimed he had a right to anonymity, the judge would have ruled against him on public interest grounds.
http://technology.timesonline.co.uk/tol/news/tech_and_web/the_web/article6509677.ece
RSI,
Very interesting.
This is one reason why we have sought to tell folks posting here to be very careful, when it comes unto naming people and making statement that can is bordering on libel.
The reason Mastercard wants to go FEDERAL is the same reason that Dr. Witless wants to put this case forward against them in the first place. Attorney’s call it the “Nuisance Factor”.
Welcome to the major leagues! Mastercard knows how to deal with frivolous lawsuits.
I agree Jay. That is why having proof is important. Both the defendant and the plaintiff have to understand that if there is truth then libel is out the window.
Easy to get around libel…..the word \”allegedly\”.
“This article has been heavily edited in the face of notice of vigorous libel action against The Daily Telegraph by lawyers representing Mario Hoffmann of Salt Cay DevCo. Ltd. The author takes no responsibility for errors of fact resulting from such editing, and wishes to apologize to the people of the Turks and Caicos Islands for any false characterization resulting.”
http://www.tcijournal.com/index.php?idsub=1396&id=8
Some sue for libel and then find themselves in the courts facing some uncomfortable truths head on in a public forum.
Shortly after David Smith moved to Turks, Missick purchased his huge
house in Provo. Is this a co-incidence? Missick also adopted Smith’s lifestyle
jets, women, huge house, Russians etc. Missick used to be pragmatic and
financially conservative.
Lord Gifford is under investigation by Scotland Yard over his role in Olint. Speak to Supt. Tucker London -major crimes if you have information.
Supt . Tucker–Metropolitan Police, crime prevention–03001231212.
Anonymity assured.
The British are taking over today.Missick will be arrested as soon as he returns to Turks.
@Tafari. Not True!
“Easy to get around libel…..the word \”allegedly\”. Really?
Get a Jamaican/English lawyer to give you lessons on Libel based on the laws in the jurisdiction
Also listen floridian
floridan said:
“That is why having proof is important. Both the defendant and the plaintiff have to understand that if there is truth then libel is out the window.”
Where there is truth libel goes through the window!!!.
@RSI
Thanks for the information.. As Jay said that is why we have been warning people and actively removing questionable comments. It clear we have some work to do…
People stick to the fact, avoid the name calling where proof is not available or provided to the authors and we are satisfied with the truth thereof.
As we have already said to those who read if you have concerns with our posts email us at hyipmyths [at] yahoo.com. We do not have any time for lawsuits.
Well it looks like we will clean up
According to Chin, Spencer on more than one occasion told him not to tell the then finance minister, Dr Omar Davies, that he (Spencer) was involved in establishing or running the company.
The revelation was made in the Judicial Review Court yesterday during Spencer’s application for an order compelling the Office of the Director of Public Prosecutions to make full disclosure of how Chin’s status changed from that of an accused to a witness for the Crown.
Chin was not in court yesterday, but the statement he gave the police in November last year was quoted at length by Spencer’s lead attorney, Patrick Atkinson, who noted that if what Chin told the police was true, if he kept signing to bank accounts, knowing what the purpose was, he would be found to be a conspirator, aiding and abetting, among other things.
http://www.jamaicaobserver.com/news/html/20090616T230000-0500_153625_OBS__DON_T_TELL_OMAR__.asp
Look at that case Jay.
I will no longer be contributing to this blog. There is an illicit relationship between Vaz, Creary and Jay. That is why they keep on removing my comments, all supported by facts or reasonable inference.
John doe
Yes truth is the enemy of libel action. Allegedly is not as strong as truth.
Any person who brings a libel suit subjects themselves to questioning in the dock. Maybe they don’t want to face certain questions under oath.
They might start to buck and stammer hahahahaaa
Don’t make dem buy unno out! hahahahaaa
Once a bought person nothing can ever change it back its like a nasty stain. hahaha
Bye larry.
As well as the legal challenges, Michael Misick continues in his frantic and last gasp efforts to stir up trouble. He is traveling this week to Barbados to try and rally Caribbean support for himself.
By no means is he repentant for the devastation that he has brought to the Turks and Caicos Islands, nor is he repentant for the delays he continues to try to inflict upon the public.
http://www.tcijournal.com/index.php?idsub=1395&id=8
Why are so many people hell bent against Transparency and Accountability?
Floridian, Man like you wid your IQ askin dat??
The dream of accountability and transparency would lead to the absence of “runnings”. Come on man, you dont really expect anyone to want to turn the status quo upside down do you?
The lawsuit may not be as frivolous as Matt would like most to believe.
Hallmark Bank has already confessed that their main source of revenue was the distribution of the Compass MasterCard.
MasterCard has a responsibility to ensure they are not in business with a rogue financial entity which is currently under investigation by the US Treasury, US Reserve and FBI for Money laundering.
In fact, on June 12th one of the owners of Hallmark Bank, David Smith was charged by the Turks and Caicos police for money laundering.
In the USA money laundering is a big issue. I am sure MasterCard does not want to be associated with the largest Tran Caribbean Ponzi scheme in history.
MasterCard may quickly find out that the FBI are interested in their financial conduct and their relationship with Trowbridge a confessed money launderer who signed many OLINT TCI contracts.
Money Laundering is a real nuisance and it may be bad for MasterCard’s business!!!!
@JohnDoe
Would not be surprised if RSI is associated with the Martinez folks.
By the way when blogging one pretty much needs to become familiar with the laws relating to libel and defamation. A disclaimer/information that posters acknowledge that they are solely responsible for the content of their posts is probably not a bad idea.
Note also one of the catches with the law and the way the courts often interpret it. The more you act as a gatekeeper the more you become personally exposed. As an example, ISPs are generally not held liable because they do not control what traverses their network. On the other hand if they start controlling the content of what users send over their network then they become exposed to someone saying they should have blocked something… kind of a catch 22.
Good point nocotec.
Also, as a general matter a charge of libel is easier defended against in the US than onther common law jurisdictions. If u get dragged into a uk court your legal paostyring may be substantially different that if u are dragged into a florida court.
Note libel law is not uniform in all common law jurisdictions. It varies internationally and even varies across the states. Many states have passed statutes modifying the laws of libel.
Truth is not always an absolute defense as far as I understand it.
Don’t throw caution to the wind is my take. Always be careful how you present your thoughts and opinions as “fact” is the advice I’d impart.
@Larry
The problem you and some others have is that like so many Jcans you let party politics creep into everything in your analysis of life.
None of these guys in the JLP that you name as involved held a gun to any investors head and forced them to foolishly invest their money in OLint. There are many investors who just need someone to blame for their own stupidity.
First it was for FSC and others to leave them and Olint the hell alone…. Some people too envious and grudeful… dem fighting DS because dem donn’t want the little dude to get big and help other small man.
It was NCB and it owners… it was the bankers…. it was bloggers like Nocotec, Jason, Et.al… and on and on….
It is always somebody else fault why you lost your money. I got news for you guys, it is your own damn fault. Look how much money you guys put in OLint TCI which was formed and became active after the FSC raided him… The FSC, bloggers, Omar and countless others warned you guys but you still gave a conman US $220 million in less than a a year and a half.
Give the rest of us a break with that nonsense and post something that makes some sense. If you want to feel better join the prayer bus… it will not help you materially but it is like opium to the brain and will allow you an escape from logic and make you feel more at peace in an alternate reality.
The fact that the JLP and PNP accepted money from Olint is not an indication that the parties at the time did anything wrong. What we need is for the law to be changed to require the political parties and candidates for elected office to fully disclosure the source of all their contributions. This is not currently a requirement. Public disclosure requirements will force the parties to be more discriminatory in who they accept funds from.
The curious thing here is that the money DS donated to the political parties was one of the few things that he spent the money on that was for the benefit of investors. He gave this money so that Olint would be left alone from harassment and enforcement action and be allowed to continue and serve investors.
Ironically, is that not what all of the investors were clamoring for? So the donations was DS’s way of getting you guys what you wanted. Now why the hell are some of you guys complaining that the parties got money?
Mr. HoChiMinh,
You are really right. My cousin called Supt. Tucker and dem want to hear more about David Smith’s lawyers.
The way I see it anyone linked to David Smith is in for serious problems with law enforcement.
Mr. Ho, can you please tell us what is the latest with the American investigation?
Yes jurisdictions are different. 1st Ammendment rights are powerful and fiercely protected.
noncotec
No one forced or held a gun to any political parties head to cash in checks representing stolen money from the Jamaican people.
The fact that they did no due dilligence before lodging stolen money that belongs to people of many nationalities and the fact that they did not heed the advice of the FSC is a choice they made.
There is no shortage of ‘fools’ in the Olint case. Some fools lost and some fools gained and some fools facing more pressing and calamitous consequences than whether or not they gained or lost money.
What say you noncotec?
All well and good for people to promulgate a theory that suggests, “you lost your money now move on you lose”
Welcome to the Hotel California. You can check out any time you like….but you can never leave.
It would be unjust to put forth a theory that when someone goes to jail for me to say, “Alright you gone to jail just move on now” what about the poor bastard them right to appeal?
Can’t sell them out like that noncotec. It’s bigger than money. The money is the least now. It’s about freedom vs incarceration.
Don’t give up on them noncotec.
Critisism of people who fretting about prison is kind of insensitive.
John Issa drilled on allegations of racism, drugs, nudity
SuperClubs boss pursuing lawsuit over e-mail in US Court
Sunday, June 14, 2009
SUPERCLUBS boss John Issa, an avowed Roman Catholic, was pressed in a Florida court about allegations that he was racist and that he endorsed nudity at some of his Jamaican hotels.
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Tropin further queried: “Have there ever been, for example, drugs found on one of your boats?” Issa responded: “We found drugs on the boat and called the police.”
Issa explained that the yacht had to go for dry dock every couple of years in Canada or the US and he was “very careful because of the dangers of any of the crew trying to take anything improper up with it (the boat)”. He said that he would have the local police check it with dogs.
http://www.jamaicaobserver.com/news/html/20090613T210000-0500_153424_OBS_JOHN_ISSA_DRILLED_ON_ALLEGATIONS_OF_RACISM__DRUGS__NUDITY_.asp
Nocotec you sound like Vaz’s lawyer.How can it be appropriate for Smith to invest the people’s money without their consent? What do you know of the objective of the12 million dollar contribution unless you were there and you discussed the objectives.I think Larry’s contributions have been helpful.Your contributions are frequently defensive and abusive.
Jay does not supervise you properly.
@Nocotec
catch 22 indeed.
ISP often are not held liable but what ISP or Web host do is as soon a they get a complaint on some legal basis, many remove the site. Sometimes I wonder if that is the aim of some of the posters.
The disclaimer is there read it and let us know.
If we have facts that can be substantiated share the evidence to for all to see. (Bushmaster style)
@miak
“Truth is not always an absolute defense as far as I understand it.”
That is also true in some jurisdictions. It is the motive of presenting the truth. Was it with malicious intent or in the public interest?
@floridian:No one forced or held a gun to any political parties head to cash in checks representing stolen money from the Jamaican people.
There is a difference between theft and obtaining money by deception. This is why there are different charges for the 2 offenses. DS obtained the money from investors by deception, what he later did with some of it may then be classified as theft.
Investors have an obligation to themselves not to give their money to someone obviously running a ponzi scheme. Investors spend way more time investigating before deciding on spending a few hundred dollars to buy a tv than the time they spent investing thousands of their life savings or borrowed money in a ponzi scheme. They allowed themselves to be willingly deceived because of their uncontrolled greed.
None of this is to say that DS and company should not be punished and investors should not ensure that any recoverable money is retrieved from him. But this continued crusade to try and blame others for you own fault is nonsense.
@Larry
Stop blaming everyone. If you have the evidence present it but posting instantiated facts is pointless.
If some people had rationally thought about your investments you would not be having this problem.
Note: “reasonable inference” is very dangerous… here is an example
John Doe’s car is involved in an accident. a man is dead. You come on the scene and you see John Doe holding is head and walking in circles.
Is it ‘reasonable inference’ to assume that John Doe was responsible for death of the man?
A few things could have happen
1. John Doe’s car did hit the man but John Doe was not driving
2. John Doe’s car did hit the man and John Doe was driving
3. John Doe’s car had stopped and another vehicle hit John Doe’s car and caused John’s Doe car to hit the man
4. John Doe’s car did not hit the man but to avoid hitting the body of the man John Doe’s car hit another car
But it does not end there. Let’s assume John Doe’s car did hit the man
5. The man could have jumped in front of John Doe’s car
6. The man could have been pushed in front of John Doe’s car
and on and on
If you invested in OLINT, was it by reasonable inference that you did so?
You know Jamaicans don’t take to embarassment well. it’s part of the plantation sociology and a legacy that is horrible and sad.
Noncotec
Aside from the money issues positive or negative the Olint fraud runs like a livewire in Jamaican society.
Many who swore publicly and at the cocktail parties that they had no money in Olint or had only a smalls (that they ostensibly could ‘afford’ to lose) had the shock of a false social status to read their names on the WorldwideWeb.
Some who searched through dilligently for their names breathed a sigh of relief when they found only the names of the ‘others’
But this list has always looked incomplete to me.
You see jamaica runs on image. even in 2009.
Noncotec
Don’t be too cold in your critisism. Yes the money part in one aspect but many corporate entities, newspapers and others who believe in themselves have been humbled by emails that demonstrate that they are no better or smarter than the man in the ghetto.
The Prime Minister’s Christmas cards were paid for by money David Smith stole from the people of Jamaica.
Cluadette Crooks a financial analyist on the radio lost control when it was revealed she was an investor.
She’s not alone by far in that industry.
Minister Robertson was like a child who tries to get away with everything when he fumbled around trying to say he did not recall an email in which he thanked david Smith for the weekend trip and the hospitality and said he would return with his family.
The point is a lot of people have lost some priceless things far more valuable than any money can buy. things that can not be replaced.
So noncotec although you may be currently in ‘I told you so mode” show some deapth and consideration for alas the real ‘losses’ have not even started yet.
@harbourshark
Assuming DS was running a legitimate business he would have been free to do whatever he wanted with his profits or income. if DS was still paying 10% per month you would not have a problem with him donating to whoever he wanted.
Did you have a problem with OLINT when they were reported as sponsoring the JAZZ festival?
Present the tapes of the conversation. Hearsay does not make it
Re: Larry’s Contribution
No doubt there has been good information but it has also be filled with danger from a libel and defamation point of view
Noncotec
If I blame myself all day and night is that going to absolve any perpetrator?
Is it going to help people not enter prison?
i would not advise anyone to place their freedom and their family in the trust that any person who invested in Olint accepts responsibility for the theft.
The potential fo9r years under lock up would require more critical thinking that what some ‘greedy loser’ says.
Well that’s my take on such matters.
@harbourshark
Sorry but if you had spent 1 ten thousandth of the time you have spent subsequently on Olint doing your due diligence before being a greedy shark and handing over your money to a conman despite all the obvious signs and numerous warnings you would not be here. It is your own damn fault for not doing that. You need to think and check first because no matter the effort you put in after the fact, some things when broken just cannot be put back together again.
If you find the fact that I say it is your own damn fault that you gave your money to a conman is abusive, sorry but it is is your own damn fault. This does not mean that DS is not just a crook and should be punished and that he should be forced to forfeit all his ill gotten gains and then some.
Idiotic investors like yourself were the ones that clamored for an illegal entity to be left alone. You gave DS tacit approval to spend your money to try and get Olint left alone by the authorities.
When you invested your money you were being as greedy as a harbor shark… Did you ask DS to show you a management agreement as to how much money he would earn and what percent he would take… OR what he was allowed to do with the money… NO you and the other investors did not. So how the hell are you now complaining that he was not allowed to donate funds to political parties.
Where the hell is the agreement that outlined the allowable use of investor money? As long as he gave you the declared percentage every month their would have been no breach of any contract… since their was no limitations on what he could do with the money.
In other words if he had traded legitimately and paid the returns he declared, he was free to do whatever the hell he wished with the money since their was no agreement otherwise. The beef investors have is not what he did with the money (live giving it to parties) but that he failed to pay the declared returns.
@ Larry.
Well you certainly know how to be a spin doctor.
Lets for a minute go down the road of blaiming all those in the JLP that were alleged to have made you invest for money in Olint by hiding the truth.
Now what ?
What if at the height of Olint were these same guys saying to you (like Lee Chin, FSC, Bill Clarke ) that Olint was a ponzi and you will lose you money when it crashes, would you have listened ?
Why on earth would I have listened to a politician over a guy who has spent years building a billion dollar empire the old fashion way?
Why would I have not listened to the warnings of the regulatory agency in Jamaica who was pleading, begging people to THINK & CHECK.
Which politicain in Jamaica have you or anyone else here no that has been truthful about anything, just name me one.
How much politician you know have promised and delivered(not much right, unless its close to election).
So as far as I am concerned the politicians whose name have been called here, have done what all politicians have know to do i.e. lie to the people.
The cold truth is you Larry wanted to hear this lie, and you did.
There were many who spoke the truth back then, why not praise them, as they prevent many more from being defrauded. You did not.
Now you are telling me that I am in league with the guy who told you a bunch of lie.
You had a choice, truth and lie, you choose the latter, now you have to figure out your recourse.
John Doe
If we have facts that can be substantiated share the evidence to for all to see. (Bushmaster style)
Maybe the Bushmaster or the Puppetmaster wants to give people the opportunity to come to truth on their own.
Will he nudge them some more if they try to stay under the covers?
@floridian Explain or rephrase..
“i would not advise anyone to place their freedom and their family in the trust that any person who invested in Olint accepts responsibility for the theft.”
I am sure Nocotec is not saying that you should blame yourself day and night.. The “Detractors”, from Jason et al on the blogs have long advocated that the persons that ran these schemes and feeder clubs should be in Prision and we still believe that..
However placing the focus on a politicians is pointless unless a it can be shown that were willing part of definite conspiracy to defraud.
I suspect many politician from both sides (and we can call ENNIS’s name freely given his public defence of OLINT) were too bitten by the returns of “high risk” to examine to situation using “reasonable inferences” to borrow from Larry.
So pursue legal action to hilt and if David Smith and others are guilty of anything, may they face the full brunt of the law if they did nothing wrong so be it..
Jay
Do you know that Smithy owns past and present members of the Jamaican FSC?
I wonder if and when the Bushmaster or Puppetmaster will shed some light on the matter.
The same Think before….need to heed their own advice sometimes.
What you think Jay?
“think and check…”
That advice can suit a wide range of calamities.
Right now Carlos Hill getting a lesson in “think and check..”
“THINK AND CHECK BEFORE YOU PLOT TO ROB PEOPLE.”
I guess I can say I said it here first right , John, Noncotec, Jay?
“Think and check before you take money from someone who does not own it….”
If Mastercard is doing some serious “thinking and checking” I don’t know why many others feel they have no thinking and checking to do right now.
Mario Hoffmann lost his case on all counts.
Cem Kinay lost on one of the three points that he had sought. He won on the other two
http://www.tcijournal.com/index.php?idsub=1399&id=8
Smithy! Do Something! Block Something! Call the boss! Smithy!
hahahahahahaaaahhaaa
Will David Smith get a similar sentence when convicted.
http://www.registerguard.com/csp/cms/sites/web/news/cityregion/15581418-41/story.csp
For those that might be new to the blogs, you may not realize the abuse I took along with a few others, but Jason and myself got most of it…. All this for relentlessly pointing out the ponzi scheme that Olint was… Some of questioned why I hated just DS to which I had to point out…. LOL… you are new and ave not seen my similar relentless attack on the other schemes.
The guys now taking action in the courts are late to the seen…. after the horse left the gate… had they listened then, they would not have invested or at worst started their litigation way back when they had a great chance of actually recovering significant percentages.
What I am sick of is people who continue to try to find scapegoats for their own foolishness.. Take legal action, help if you can by providing info to attorneys and or law enforcement authorities. Go to church, join the prayer bus if you wish… but keep the attempt to find another scapegoat to yourself.. Some of us are sick of you guys trying that crap over and over.
True talk noncotec.
Don’t get sick. don’t let them get under your skin. you and Jason deserve some OJ’s and a couple of CD’s etc.
Everybody must accept their own responsibility. Your point is clear.
Problem is that your point is meant for some and not all. I never forced you to go flying and partying around in Smith’s planes?
If I told you then that it was being watched you would probably not listened richt noncotec?
Soliciting funds for Smith under contract?
Anyway noncotec you seem to be in the clear so don’t bother get sick and so on. Keep healthy.
Does anyone know how much time DS is facing? What is the max sentence for each charge? Would it be unusual ubder British law for judges to sentence consecutively when there are convictions on multiple counts?
Chin said that some time after the company was formed Spencer contacted him to say that Davies would be contacting him (Chin) about the light bulb scandal and that he was to tell Davies that UMC was his (Chin’s) firm and that it was dealing with the project
http://www.jamaicaobserver.com/news/html/20090616T230000-0500_153625_OBS__DON_T_TELL_OMAR__.asp
Another David Smith?
Nocotec, just because you and Jay have pedigree in blogging does not give you the right to control the intellectual texture of the discussion if it is relevant to the issue. One of the issues is whether or not the politicians are the scapegoats or the malefactors in the Olint matter. It is not reasonable for a Government to have an FSC and say no to the schemes and then greedily accept contributions from Olint. If you are afraid of Vaz and Creary say so. Do not cower behind an assumed fear of defamation law suits. The internet is the engine of globalization.There are credible sources other than the Gleaner.
Only in Jamaica can politicians steal money and bribe the media to look the other way. Jamaica has the highest murder rate in the Western world and a neutered media. Your attitude and your compulsive need to protect corrupt politicians captures all that is wrong about Jamaica.
@harbourshark
Sorry man but you are full of crap. Why is it that you and the others making the allegations do not post them under your real name? LOL… Post them under your real name and give enough info so that you can be located. LOL… And you are not afraid and hiding while making unsubstantiated allegations, right?
Looking for a scapegoat for your mistakes has nothing to do with the “intellectual texture of the discussion”. No one put a gun to your head and forced you or any other investor to invest in an illegal scheme that claimed to pay statistically impossible returns. And none of the politicians did either. As I said JA does not have political contribution disclosure laws and so in accepting the money from DS neither party did anything illegal at the time.
Unless you have actual evidence that any of these guys were involved in a conspiracy with DS, you and others are just going off with with unsubstantiated allegations… a fishing expedition.
Here is a question and a challenge for some of you guys. Drug addicts often look down on other addicts as inferior and have a superiority attitude to the others. For example, a person addicted to precription drugs looks down on a person addicted to powdered cocaine who looks down on someone addicted to crack who looks down on someone addicted to heroin…
UFO investors knowingly invested in an unregistered illegal scheme…
What is the difference with the ‘investor’ who gives $10,000 to a drug dealer to buy drugs with a promise to double his money in 3 months? The drug dealer takes $1000 to pay off the local police superintendent, and contributes another $1000 to the 2 local politicians.
The deal goes bad and the dealer is busted. This investor loses his money. Should this investor now set about blaming his drug dealer for using his money to payoff the local talent to turn a blind eye? And for the politician to make drugs legal? Should he be upset that the payoffs failed and the dealer still got busted?
When this investor decided to invest in this illegal scheme, was he not tacitly agreeing that the drug dealer should try everything necessary to get the scheme to work? Now, should he blame the police supt. and the politicians that took his money from the dealer?
How does he know that the politicians and the dealer had a conspiracy to steal his money? Or was the contribution supposed to be for the politician to work to make drugs legal? Does he know that the party did not believe the dealer was involved in a legitimate trade?
Suppose the dealer was spending some of his money at a casino. Why does he not sue the casino to get his money back? Why stop there? The dealer used some of his money to buy food. Why not sue the supermarket?
When does this person accept personal responsibility while recognizing that the dealer should also be punished. Why are the other people that the dealer spent his money with the ones to blame.
Sam, My point exactly, what does Dr. Witless MasterCard case have to do with him handing over 2.4 million? Did he do it on his MC? Sweet!
He is just trying to drag out anyone and everyone he can rather then go home and pull his hair out. He should look in the mirror and blame himself. There are not many out there that feel sorry for a wealthy, well educated doctor that tried to be greedy and double his money in under a year in an offshore unregulated investment scheme. He has seen investments before, did this look the same as his Smith Barney account? Carry the same risks and rewards? Or did it require a bit more examination of the prospectus and books before making a multi million dollar investment?Madoff had forged books, but OLINT didn’t even ever have books. Investor history and experience will be 50% of his case and he already lost unless 2.4 m. is chicken feed for him. DS a owner of the bank? Really? Was that in the audited financials as well?
The people that never have seen a Smith Barney account statement are the ones with a case, not Dr. Witless barking at the moon. He needs a Dr. Melfi moment. I did enjoy the letter to Obama.
MC is bulletproof. The others on the list are not as sophisticated as MC, but they will learn fast. His legal advisor must have suggested to keep MC separate.
Matt,
While the Dr has every legal right to challenge those he beleived stole his money, the fact is that thr Dr. himself must have been not been thinking when he gave his money to DS.
How on earth could someone take up US$2.4M (as it was alleged) and give to a guy who promised to give him 10% per mth, without evena audited statement from the guys “firm”
BTW the Dr would have been earning more than 10% per mth based on the fact that he was an “elite” member of the scheme.
When the Dr was collecting his US$240k per mth yes ($21m) did he not think, no way this could not be right.
He greedily accepted these funds, and no doubt was very proud of his investment.
He again is not thinking clearly ,has he is now filing lawsuit left , right and center, rather than focusing on the main principals that stole his money.
At the end of it all, he will pay thousands of dollars in lawyers fee only to see some of these cases thrown out, and would not only has lost US$2.4M but other fees related to his “net fishing” approach to these lawsuits.
Noncotec
As I said JA does not have political contribution disclosure laws and so in accepting the money from DS neither party did anything illegal at the time.
You can stay legall and give away your moral authority.
Remember Trafigura?
The British MP’s who stepped down in large part did nothing ilegal.
All the money in the World can’t purchase decency and respectability. Defending David Smith et al and the Martinezes will not make them respectable people.
Some things just can’t be attained by a con.
Nothing can change their status in that regard.
So what is your real name nocotec? You derive comfort from idiotic and vulgar abuse.Your attitude is why we had a David Smith in the first place.The stupidity
and venality of light skinned middle class Jamaica.Because of your brownism you are uncomfortable with law and prefer to exalt personalities. You sectretly admire David Smith. You probably were his guest at the white slavery depot at Platinum and you probably flew to Turks in his plane.Why dont you go to Turks
and extol his virtues. Infectious pigs would avoid you. Who are you the Minister of Bribery and Kickbacks. “Swallowfield will be the battle field”
Jamaica does not want David Smith and his kind. He can laugh and act like an ass somewhere else. He can wear his high fashion of a matching Polo Shirt and cap again and again but jamaica does not want him or any of his backers.
Jamaica does not want the type of people who he brought to Jamaica to damage and hurt Jamaicans.
it’s not a Government decision. It’s a people decision. Jamaica is a proud country with a proud history. kingston was the second city in the Western Hemisphere to get electric streetlights. We are great. We reject the likes of David Smith even though he is home grown.
His eyes opened up to certain things like money and liquor and bribable people and he turned frightened Friday and shamed the country.
If you want to help him get away then so be it go ahead.
But we love Jamaica. Money never frighten we. We will defend Jamaica from the likes of David Smith forever.
We will defend it from another like David Smith the cream head fish Carlos Hill. He too we defend Jamaica against and his associates who forsake Jamaica because they have a law degree and begging a buck.
David Smith will tell you that his parents were ‘just’ teachers he wanted to live rich life. But the examples he followed:
a) Got wealth Dishonestly
and
b) Don’t carry the ratings David Smith thinks they have.
Ready Smithy. Ever Ready.
In a the liquidation of assets of a ponzi, one could argue that “investors” receiving “dividends” exceeding their cumulative capital investments are not entitled to further payments. In fact, as Jay indicated earlier, there is a case to be made for “clawback” since such persons would have benefitted from “unjust enrichment”.
It may be argued that these “investors” were not aware that it was a ponzi and as such they should not be required to pay back these gains. However it is a “general equitable principle that no person should be allowed to profit at another’s expense without making restitution for the reasonable value of any property, services, or other benefits that have been unfairly received and retained”. According to Wikipedia:
Liability under the principle of unjust enrichment is wholly independent of liability for wrongdoing. Claims in unjust enrichment do not depend upon proof of any wrong. However, it is possible that on a single set of facts a claim based on unjust enrichment and a claim based on a wrong may both be available. A claim based on unjust enrichment always results in an obligation to make restitution.
I submit that all Olint and Olint TCI “investors” who were paid dividends in excess of their investments should be subject to “clawback”.
The “new investors” who received no dividends, or received dividends that were less than their contribution, should be the only ones eligible for payment under the Olint liquidatoin process.
Feeder clubs should be made to provide statements and proof of transactions for all clients and any disbursements ( Whatever little there may be) should be paid directly to the clients.
It appears that PWC is already on the ball with this. However they should be made aware that many of the feeder clubs were not “companies” and that contributions to Olint was made in the names of the individuals running the feeder clubs.
It will be interesting to see how this will play out. I hope that PWC will take the time to look into the co-mingling of funds. That will give the court in TCI the authority to go after the funds under “OLINT CORP”.
Jay have you read the Doctors complaint. Why are you calling it a fishing expedition? The courts dont seem to have struck the complaint, maybe
you and Lord G are in consultation. Did you research Lord G? The Canadians raided his offices in Jamaica because of money laundering.The IMF is upset about Vaz and company also. Only you and the traitor nocotec seem to support
the Creary mess.
Still not a word of Mr. Smiths arrest in either major paper?
MUST be A LOT of other news to report on… no time for small stories like that.
btw, has bail been paid and is Mr. Smith once again a free man?
@Tafari…
We long supported “clawback” ,.”Investors” who got more than there principal via interest should not get a cent more and should be ask to refund the excess. Over a year ago we had those discussions led by Noctec.
Interestedly at first I never knew it could happen but some research showed it had been done over and over in the US especially in PONZI schemes.
@harbourshark: You sectretly admire David Smith. You probably were his guest at the white slavery depot at Platinum and you probably flew to Turks in his plane.Why dont you go to Turks and extol his virtues.
Dude your posts illustrate perfectly why you lost your money. Most of your money is gone forever. What you can now do is start to train your brain on how to make good decisions.
You invested in Olint without the most basic investigation which would have shown that 10% per month average returns are not plausible and therefore it must have been a scam.
Your brain continues to show this inability to do basic logical analysis. The most basic research via Google on “Nocotec” or asking any of the bloggers who are or were supporters of Olint and DS about blogger Nocotec would inform you that he was and is perhaps the most strident and relentless critic of DS, Olint, C+ and the the UFO’s .
Yet again, your brain manages to arrive to the conclusion diametrically opposed to reality.. Your brain has you living in an alternate reality. You may need therapy.
Noco,
Ppl should read the archives.
Some ppl evidently does not know you and Jay as the steadfast chief detractors you are. haha
Let us do some logical analysis. Let us look at the issue of the Olint PR guy. The job of the PR guy and or firm was to promote Olint and in so doing would have helped lead many investors to invest or keep their money invested.
Olint we now know conclusively was an illegal ponzi scheme. It is therefore very reasonable that the PR guy and or his firm should be criminally investigated to determine if he knew Olint was a ponzi scam and was part of a conspiracy to promote it and thus illegally obtain money by deception among other crimes.
Similarly it is reasonable to expect that he and or his firm should be the subject of civil lawsuits to determine the extent of his knowledge and whether he should be held liable for investor losses.
Edd , Edd, Edd,
Man you are piece of work.
Tell me the rationale behind Dr. Dont Think & Check filing a lawsuit against MasterCard, is that not a frivolous lawsuit.
Tell me how you arrive at the position that I am a part of the Creay Plan.
1. I Said Olint was a ponzi – Creary said it was good investment.
2. I said 10% per mth was not possible, you listened to Creary who said hey there is proof that 10% per mth was possible.
3. I said Olint was a huge ponzi and a run would cause a collapse, Creary said there was a run and 70% of the people were paid back their money.
4. I wrote here that people should not invest in Olint, you refused to listen saying ” uno a gee Olint a fight”.
5. FSC chased Olint out of Jamaica, you chased Olint to TCI giving DS over US$230Million in the process.
So you listened to Creary and not me, so how did you arrive at the conclusion that I am apart of his clan.
You see Edd, its this inabilty to separate fact from fiction which allowed you to be in the position that you now find yourself.
Its this inabilty to make reasonable decision based on the information which has been presented, which has caused you and other grief.
Edd when you decide for example to purchase a High Definition TV costing say US$1000 , how do you arrive at the decision of what brand to purchase and where to purchase it.
Did you exercise the same logic when you decided to give your $000’s of to Olint, or was it based on.
1. Well ,people are getting paid 10% per mth consistently.
2. There was a run and all where paid back.
3. I hear that DS is the world greatest trader.
4. Nuff big man a invest inna Olint.
5. David is a good guy, who will not rob anyone.
6. Olint cannot be a ponzi as it has been in business for 5 years.
You see there is a simple investment principle espoused by the world greatest investor.
1.Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
The liquidator will be chasing everybody paid from Olint TCI – interest and principle!!!!!!!!!!!!
Now let us examine the allegations by some bloggers against some politicians and the political parties, generally against the JLP. One has to be very careful with unsubstantiated allegations especially if there is a plausible alternative which may be equally likely. In such a situation one must have credible facts to support the allegation.
Take the example of Seaga, The Premier League and C+. Seaga on behalf of the Premier League reached a sponsorship agreement with CH and C+ to sponsor the league. It certainly appears that Seaga too was duped and believed that C+ was operating a legitimate entity.
Did Seaga do anything criminally wrong? Was this something for which he had civil liability to C+ investors? Does the fact that he got the league to accept money from C+ means he was part of a conspiracy with CH to steal money from investors/lenders? Is it not logical to believe that if he was still actively part of the JLP it is likely he may have solicited and or accepted funds from CH and C+ for the party? Would that have indicated he was part of a CH conspiracy?
In other words there is certainly a very plausible and more likely alternative where it is embarrassing for him but where he was not involved in wrong doing.
Now I am not saying the same is applicable to the folks from the JLP alleged to be involved with DS and OLint. However unless there are credible facts to support some sort of conspiracy there is a different plausible explanation. One or more of them could have been duped like so many segments of JA society. It is possible that a duped politician could have solicited and accepted funds from Olint for his party.
In such a scenario he may not be criminally or civilly liable though he and the party should be embarrassed. And it is appropriate that the money be returned to a formal pool to pay back defrauded investors.
Unsubstantiated allegations especially where there is an equal probability of an alternate possibility is dangerous and certainly subjects the accusers to defamation and libel lawsuits.
… hmm … harbourshark and edd … unnoo both appear to have been suffering from le olde ‘john crow’ syndrome … flying in ever decreasing circles (i.e. feeding on more and more of the same crapola) … ’til unnoo finally flew up unnoo own asses … just admit it nuh … unnoo never listen, got duped and de money gone …
Well said Nocotec.
I believe many here have bought politics into the picture as they beleive that the money they gave to the JLP was to ensure that Olint continues to operate in contravension of the law.
The fact that Olint has collapsed has left many angry that the JLP did nothing to save Olint.
By coming to that conclusion, they have still yet to get in their heads that Olint was a ponzi and would have failed even if the PNP had won the election
If a politician is ‘Duped’ should they run the Country?
We going to ‘Dupe’ David Smith and the crew now.
Any objections?
hahahahaha
What good for the goose good for the gander.
@nyammingpopcorn&watching
Thus is the though process of some posters here
“I would not look that smart if I accept that I was duped.I must find someone to blame, in that way I feel a little smarter.”
Olint is not just a Ponzi.
It is a money laundering operation.
Floridian,
Most of the AIS in Jamaica did in fact have some money laudering as part of the overall operation.
This was very clear in the cashplus case, its just that this was never made public.
I was ‘duped’ now I do the ‘duping’ Who ‘dupes’ last ‘dupes’ best.
hahahahaaa
Why the flipping up over that? Settle the nerves man. When i was being ‘duped’ I looked nervy to you?
Your own medicine and you a bawl. Settle dung man.
Take a deep breath.
If you want to make a public statement that you have done nothing wrong you are free. No one stopping you.
Nocotec:
There is just one problem I have with your Seaga/C+ analogy:
How do you explain the fact that even after it was proven that C+ was a Ponzi that the great Finance guru would move forward with a lawsuit against C+ for the balance of the sponsorship funds? This, one might argue, was a callous act on his path, given the fact that a lot of investors stood to lose their life savings.
Given the mythical position of being the best Finance Minister that Jamaica has ever had, would you reasonably assume that the brainwaves were not reaching the right places when he accepted money from a Ponzi that you and I knew with limited data.
Do you think that a person of his statues and financial acumens can plead ignorance and that he was “duped” into believing that C+ model could support 10% a month return to its investors?
Let’s face it, Mr. Seaga has had a long history of poor judgment, be it the $200 Million loan that he forgot he had procured and did not pay back, to the issue of the government taxes that were deducted from his employee’s salary and conveniently not turned over to the government.
I guess what I’m saying is that maybe one should be more selective in their choice of analogies
Oliver Clarke of the Gleaner has publicly and categorically denied the existence of payola with his journalists. He said David Smith and OLINT had and has no influence over his publication.
Anyone who wishes can follow his example.
Very honorable thing for him to do. It shows regard for his readership and Jamaica on a whole.
Others should follow his example and state clearly what the position is with OLINT and their related entities.
This must be one of the few times I agree with nocotec. Its a pity that rather than getting personal, some of the bloggers dont take the time to read what you have posted. I dont know how much clearer you can make it. You are not speaking in riddles or tongues. You might have to use pictures and bright colors.
David Smith stated very clearly that he had the Gleaner ‘locked.’
Logic: At least one person is telling the truth. Which one?
In court thediscrepancy will be settled once and for all.
Logic: At least one person is telling the truth. Which one?
Sorry. The Should Read: “At least one person is NOT telling the truth”
@floridian, Said: If a politician is ‘Duped’ should they run the Country?
Democracy is of the people, by the people, for the people.
This means that if large segments of the people at all strata of the society are duped then it stands to reason that politicians will also be duped. A politician is just another one of the people running for office, nothing unique about him or her.
You would have to dismantle both parties and use a litmus test for the new politicians. Were you duped by the UFOs? … LOL
The Courts are the best forum for Clarity Chucks.
Are any of the bloggers against having the matters dealt with in the Courts?
Smith was served in Provo recently although hiding in the house at Chaulk Sound. More service of process for the self-proclaimed ‘great.’ and Mrs. ‘Great’
Surely they have no fear of not being vindicated. But run from the courts. Strange why people don’t want the courts
Ehh Chucky?
After the court who fi vindicate gets vindicate and who nuh fi vindicate don’t vindicate.
MikeD:
I wondered if age had caught up with him
However I believe the analogy still stands. It is hard to look at the facts and then reasonably infer that he was part of some conspiracy and wrong doing with CH. Which was my point, that is, because a politician accepted money from the UFOs does not automatically mean he was part of wrong doing.
Part of the subconscious psyche in JA is that politicians are somehow smarter and more capable than the average Joe. This leads people to psychologically tie their fortunes to politicians and parties. As this episode illustrates they are just ordinary Joes and they are just as apt to fall for the same deceptions as the rest of the society.
There is no certification exam that a politician needs to pass along with continuing education classes. Thus we cannot be assured that any of them has even a minimum level of competence and or smarts.
Floridian:
Unless DS can prove that the liquidator’s conclusions were incorrect then it is now proven that OLint was a ponzi scheme. It would seem that the civil cases at this point is not about stuff like vindication but tracing and recovering funds for defrauded investors.
Noncotec
The Criminal stuff going right Dung a battam and up a tap again.
Full Sweep. everything in the open. Clarity.
No covers over anything. Naughty or nice Santa Cluas is coming to town. And he’s not leaving out the ghetto. No more wondering why we suffer so..
Noncotec
Where does the prison part fit in?
@Floridian:
There are two separate tracks, the criminal and the civil. Criminal is pursued by the State and will hopefully lead to significant prison time.
He will try and pay off the key witnesses. That’s how the ‘christian’ does it he pays off the weak of mind and those who seek upward mobility through money.
They know themselves. the problem for them is we know them too. That’s why them bend them face and get nervy in their calamity.
You know how many “uptownners” bow and beg a grovel to David and Tracey Smith? You don’t feel sorry for them?
Their image shattered. Out in the open. That’s what’s most precious to them. Image. They get wild and scream and shout when the image is revealed.
hahaha…It’s something eveyone should see even once in their lives.
when their TRUE COLOURS are out in the open it’s like they lost all they live for.
Can’t pity them though. People can’t get robbed of their money and not get justice because ‘hurry come lately’ wants to protect image.
Judging by the demeanor of Dr. Kinay’s attorneys and representatives, they are not happy with what the public will be learning upon release of the Final Report. The elements of apparent victory seem to have turned bittersweet.
The release of the written decision in this case; that document that we all have been waiting for – for three days now, is expected at 02:00 pm.
http://www.tcijournal.com/index.php?idsub=1403&id=8
in defence of Seaga,
While others filed lawsuits against Cash Plus itself, PLCA led by Seaga filed for a liquidation order and got it. That effectively killed off all the lawsuits against Cash Plus in my opinion
“Following the presentation of a petition filed in the Supreme Court on June 12, 2008 by the Premier League Clubs Association Limited (PLCA) to wind up Cash Plus Group Limited (CPG), on June 27, 2008 the court appointed Mr., L. Monthly Kandekore, trustee in bankruptcy as the Provisional Liquidator of CPG. The PLCA has alleged that CPG failed to honor it financial commitments in respect of a Sponsorship Agreement entered into in October 2007-2008 Premier League Football Competition. The PCLA sought remedy in the Supreme Court which resulted in the appointment of the Provisional Liquidator.”
http://investforlife.wordpress.com/2008/07/21/cash-plus-update-5/
Good point JohnDoe
Smithy,
Doo Sooomthing the dolly house a mash up! Change the style…saying I have no money in Olint is playing like a stuck record….try something new Smithy because I am ready to stop cruising now…
Is Courtenay Barnett teach you to lie Smithy?
hahahaha i like that. Mr. m monthly kanker sore. hahahaaaaa
The next big feeder friend check out his Turks papers yet Smithy? When last unno vote in British Elections?
Mike D
Let’s face it, Mr. Seaga has had a long history of poor judgment, be it the $200 Million loan that he forgot he had procured and did not pay back, to the issue of the government taxes that were deducted from his employee’s salary and conveniently not turned over to the government.
But Mike D what we have as leadership are the students of Mr. Seaga.
Did he not bring Shaw back from New York and place him at Jampro? Did he not ‘groom’ the rest?
O.k let’s say everybody was ‘duped’ so what did they do to Carrec it?
Grovel and beg for their associated ‘fools’ who lost?Beg David Smith to take care of their own?
So you are ‘duped’ and you are a ‘grovelor’. Mercy.
Jay and Nocotec you do not appreciate the fact that the blog reflects a pantheon of opinions.
The blog has always welcomed diverse opinions. This is why there is often spirited debate. What happens is when some folks post opinions that cannot stand the counter challenge of logic they often get upset. This does not mean they cannot post the opinions. Just expect it to be challenged by logic.
Generally the only posts that have been removed are personal attacks and those that contain unsubstantiated claims that may be of a libelous nature.
There is no dispute that, on 9 January 2007, Dr Kinay caused a political donation of $500,000 to
be made to the Premier’s party by way of the law firm of the Premier’s brother, Chal Misick. The
funds were from the second applicant and the money was to be used for the impending 2007 election
in which the Premier’s party was hoping to be re-elected and, in the event, was.
http://www.tcijournal.com/mp/v2/UserFiles/File/Supreme%20Court%20Decision%20-%20Re%20-%20Cem%20Kinay.pdf
Is there any dispute that you paid some of the TCI govts. bills Smithy?
hahahahahahaha
@Ho Chi minh,
Just adding to what Nocotec said… We certainly have not blocked anyone… (unlike another blog we know) ..
Even where the comments of libelous nature have been removed we have asked person to re-state what they have to say in a responsible way….
it seems like Olint JA is down at the moment….
I got on fine. http://www.olintja.com
Smith Paid Missick’s bills, provided him with Russian women and bought his house. He also paid civil service bills for Turks and paid the JLP’s conventioon costs.I am sure Nocotec approves. He favours misuse of investor money.
Smith Paid Missick’s bills, provided him with Russian women and bought his house. He also paid civil service bills for Turks and paid the JLP’s conventioon costs.I am sure Nocotec approves. He favours misuse of investor money.
He favours the way of the foolish. He will learn. Never too old to learn.
I just got on….thanks
Nocotec and JOhn Doe do not respect the First Amendment. Has the blog researched the on-going investigation intio Lord G ?
Interested if you were the Prime Minister of Jamaica and you attended the opening of The Italian Village in TCI with the Premier and the Governor of the islands and you saw David Smith drive in….
you wouldn’t run him?
Oh…I see.
Jay , Is It OK for Creary to write tomorrow”s Observer
editorial? Just checking with you.
@Flordian,
You assume that the PM of Jamaica has as much integrity and principle as I know I have in my little toe….
Oh..I see
Interested
You saw the clip where he say to the Jamaican diaspora in TCI that he has not gotten any bad reports about Jamaicans there?
hahahaahahahaha
Start with Judy Jones and David Smith start with those who are close to home.
@Floridian,
I have been told my a hardline Olinter that Mama Smith informed them that the cavalry is just over the hill and all monies will be restored….maybe JA PM feels the same way….or maybe since the reports did not involve the customary Jamaican practice of killing people the PM felt anything else was good…..who knows..
Interested
Cavalry? Mama Smith going to trial very soon. Is that why words of encouragement coming? Coincidence?
belongership story and rex messam coming to bump right away.
Is that why the famous ‘people in the know’ start to sing everything will be o.k. (Check the track records they speak loud and clear)
Why does he not place an advertisment (in addition to Duke of Earl’s fantastic piece of course) telling investors they soon get their ‘obligation’ satisfied?
He could even reassure the PM in the press that ‘I will never get paid’
If he even paid all the kool aid drinkers in full plus a billion dollars each can he retore the damage he and his wife caused?
Hold on…I have to make a new batch of cool aid i never expected such a large crowd…..
Yes now. Do you all feel special that you got the ‘priveledged’ info that the Cavalry is coming and soon pay?
Make you feel special because it’s not widely disseminated info?
Sorry to let you down. It flows to hundreds through the ‘I’m Special’ I”m in the Know’ Kool aid club.
Indictment is what is coming. Not for Smithy alone either. Rass someone just violently spat out their Kool aid.
All kind of things going to happen in these last days.
If him even pay a selected few or the ones on the list that was presented by the pone who’s posoition shpould show no favour him still going to face the stand and other things.
Get on with his life? He never controlled that from the day he robbed me.
What? Some Cool aid? No Thanks I drank some water just before I came here.
@Floridian,
Revenge is a dish best served cold…ALWAYS
The grapevine is a tool used mainly by David and Wayne Smith.
It’s the special treatment.
Lets have a meeting with 25 or so key members in 2008 and show them ‘proof’
(BTW Peter had this job largely up to that point.)
The 25 or so at the meeting will each tell people they know that everything is alright and it will spread by word of mouth.
Yeah….hold on I have to make another batch of kool aid these people can drink …dem wanga.
OK so the info of proof and 250 million into BOJ and Leeching cause this and FSC cause this and Turks authorities cause this and whatever will filter down in this ‘priveledged and individual’ way and make each recipient feel warm inside and special……
Well. Wayne and David might just have shown ‘proof’ in an advert in the press (Them own so many) or perhaps a press conference and let each memebr see the ‘proof’ and be reasurred etc.
But….each individual would not get that feeling of ‘links’ and ’special’
We are Special the people walking on the street in Jamaica in dutty clothes begging are not the ’same’ as us…no sah….we are something different
That’s why in certain things we are ‘in the know’
Drink the Kool Aid and next time you see a poor person begging on the road in Jamaica or in calamity stop and help and talk to them.
You might learn something.
@Floridian,
Grandma ever tell you “Long Run…Short Ketch?” ….Well a it dis a come now…
I hear on very good authority:
That all the people who have been quietly told the ‘good news recently’ are going to see all their Olint and banking transactions in detail on the WorldWideWeb. Not just balances.
Because they heard the good news and kept it to thhemselves hiding it from the poorer members.
@Floridian,
WHAT GOOD NEWS?! Is all lies so they are the idiots for continuing to swallow foolishness like that…but then again a desparate man clutch at straws…
Interested
You recall the Worldwise Noel? Started to make all som $25 dollar payouts.
You see dig this now,
“Your honor, despite a long long absence of any payout my client has just recently begun to make good on his promise to members…”
Interested
We build dem school deh.
And just as we built it. We dismantle it when we feel like it.
I would not leave a political or any other career in the hands of David Smith.
But then again i’m probably not in the know (smile)
I would not leave freedom to chance or Smith either.
If you were a rampaging middle man pig and have not secured some good legal reprentation by this time you might as well dring some Kool Aid and just wait on fate.
I hope so…..
Something tells me to expect a comment fro Cull Cull soon.
David Smith and Wayne Smith heartless with the Kool Aiders
They make clear that who takes action against them naw get ‘them’ money( Arrogant and Worthless Bastards)
Then in the same week that the liquidator invites victims to come forward…
The Kool Aid grapevine starts up again that money coming soon.
Heartless but funny in certain context. Many of the kool aiders come from high and mighty homes and offices. heh heh Shhhhhhhhh
You know I know.
@Floridian,
Pride always goes before a fall for those that come from “high and mighty homes and offices”
Some of the brand name that would listen to the rumors and secretly support a twice arrested person while backing him quietly…not aiding any authorities…what would your parents think about that? hahahaahaa
Smithhyyy Huurrry the time run short!! We went out on a liiimb for yoooooouuuu…
hhahaahaha
Hurry smithyy. hahahaha
Kool aid? I SAID NO THANKS! I told you I had a drink of plain water before I came here.
Prophet Phinn? Neil Lewis? Snapper? Anyone?
In my hand I have a glass of Kool Aid. The Glass is covered so that you may not see the colour of the Kool Aid. Now for a prize of an all expenses paid (courtesy Olint) three week cruise around Kingston Harbour….
….can you predict? The colour ! of the Kool Aid???
hhhahahahahahahhahahaa
On a serious note Interested
‘Pride always goes before…’
Sadly, pride is one thing that keeps Jamaica down. Not near CORRUPTION but pride is something we need to address in Ja.
Sadly pride can’t feed not one person (even though it’s advisable to swallow it)….but it can keep a people.. a nation…down.
I hold David Smith to be a heartless criminal servant of the Devil.
But who knows maybe it was Pride that made him and Wayne live an ostentatious lifestyle of Jets, Women, Gambling, philanthropists and politicians. Powerbroking?…flying family around like taxi etc all while even not paying the people out while they suffered
Hearty Laughing big life and blatant arrogance all while people’s only ‘crime’ was ‘please Sirs can I get to see my own money?’
Adding insult to injury they blamed scapegoats for the hurting and so when asked to provide proof of these ‘fantasy culprits’ Wayne Smith and David Smith said NO We have everthing under control, we are in charge of eveyone’s destiny, we know what’s best for you and your money , we have it under control and any dissent will result in persecution through our paid agents in government (s)
Fagots. You think if they showed proof Leeching was behind it Leeching would not be bawling mercy right now?
I’ll Give ‘Them’ fairly high marks for craftyness. It will be seen whether some things were coincidental or well pre planned beforehand.
But its execution was smooth in manyt ways.
Scapegoats Leeching, FSC, ‘authorities’ and other selected individuals were all weighty with money, lawyers and influence so the crowd did not want to challenge them that they were agaist Smithy.
They just simply believe in large part because just believing was cheaper.
The Smith’s tied up the political directorate on both sides. This renders them useless. If they show their levels of involvement then they lose power so they say nothing.
The journalists were tied up to the point that it affected the owners and they too have limits to follow now for to the right and left is the same &^%$b* creek.
Misick proved a problem to them and now they realise the aint so smart.
You see Smithy its like a Rubick’s Cube. You may hurdle solving the first and second layers fairly easily. But the solution gets more complex as you go along for as you solve more layers you must do so while simultaneously being careful not to disturb the parts of the puzzle you fixed already.
The last layer elludes you Smithy. Well tried though.
Even using lawyers who are members like Courtenay Barnett for example fit a strategy control of even their lawyers.
Control of the highest ranking Jamaican diplomat in TCI Allan Hutchinson.
All the agents who are now certified money launderers
Is like their seeds we’re cut off and they are paralysed and in a comatose stupor tell their clients ‘Smithy soon come with some money’ Broken Record…needle stuck pon a scratch.
They have nothing to do but face their clients like sitting ducks while they ponder how it seemed like ‘just the other day Smithy went away’ hhahhahahahahahahaha
At least Smithy never left them out as their clients breathe heavily on their necks he sent them a postcard recently with Observer Courier Duke of Earl to say hey guys I definately not coming back so keep on holding your breath. Don’t forget If you take action you won’t get paid now and of course ‘your money safe ‘
hahahahahahahaa
Soon come and goodbye all in one sentence. Walcott is a prentice to the literary genious who’s spells like an angel and had two physics teachers as parents.
I hear when the NFA ruling against Martinez came out several middle pigs forwarded it around to clients as if it were showing smith in a positive light
HAHAHAHAHAHAHAHAHAAAAHAAHHAAAAHAHAHAHAHAHAHAHAAHAHAHAAHHAHAHAAHA
heh hehh whew
Anyway enough jokes for one night
Sterling Asset expanding to Montego Bay – Hunts forex trading licence
I wonder about the rationale for this.(forex trading license)
http://www.jamaica-gleaner.com/gleaner/20090619/business/business4.html
The world greatest investor said;
“Only when the tide goes out do you discover who’s been swimming naked”
The collapse of Ponzi scheme worldwide is a testimony to this great investor words.
I understand that the Olint 3-Creary, Vaz and Robertson will be expelled
quietly by the JLP power group Holness, Shaw and Gallimore. The ponzi scheme will lead to the fall of the JLP Government. Nocotec and Jay will suck
David Smith’s lemons.
Edd,
The JLP so called gang of three caused the Olint failure.
Ok so they get expelled from the JLP, what next. Does David Smith thievery gets vindicated.
Edd go read my last post in the comments section of this blog, I think it will be of great help to you.
@ Dead Monkey
1. send us the information you have on Lord G hyipmyths [at] yahoo.com
2. First Ammendment is a US jurisdiction … many countries therefore Jurisdictions at play here…
Allen Stanford INDICTED; David Smith , Wayne Smith and Missick next.
http://www.guardian.co.uk/world/2009/jun/19/allen-stanford-arrested
Allen Stanford was indicted, Smith and his operation is the next domino.Gifford was more than a lawyer for Smith and his criminal wife Tracey. Antigua became too hot for Stanford.Smith has confined himself to his house in Turks.He can start counting the days. Please stop blocking me.
Stop making statements about people blocking you as its not true.
The facts are than some post (if you are new) gets held for moderation.
We check from time to time to see if any post are being held up and release those.
This is not a fulltime job for anyone of us, so there are days, that a post could be held for quite awhile if we are unavailable.
The second thing is post with multiple links are automatically held, as these are treated as SPAM.
So if you do not see you post here, check back later as it is most likely that we have not had a chance to check whats being held by the program.
John Ross Esq has sued Hallmark,Mastercard and Missick. #09033903. Lord G in plenty of trouble,he could be in jail soon. Bustamante is smiling! Check it out.
David Weir (left), investment and client services manager at Sterling Asset Management Limited makes an amusing point to his boss Charles Ross (centre), managing director of Sterling Asset
David Weir is a middleman for David Smith.
http://www.jamaica-gleaner.com/gleaner/20090619/business/business4.html
#90330903 is at Broward Courts.Org on line.
Jay , You are the leader of the nihilistic school of Olint blogging.All bloggers are idiots the money is gone so nobody should do anything. That is why I suspect you and Nocotec are in league with David Smith. When people use private detectives and lawyers to determine facts you either ridicule it or have nothing to say.Note your silence on the affidavit admissions that the Olint Trust is a fraud.
If you want to suppress information just let us know so that another more serious blog can be formed and you can be investigated for your misdeeds,
Edd,
Unlike some journalist( and I am really not one), I do not follow the dictates of anyone.
So why are you insisting on a statement on Olint foundation.
I /we have already said everything about Olint was a fraud, everything means just that everything.
It was reported months ago on wireless expression that no money was ever presented during that photo op which was in the papers.
Again you are reading but not understanding what you have read.
So its not the gang of three anymore, its me.
Blame blame blame, its not Edds fault, its those folks that gave Edd bad advise. The same advise which he sought and really thought it was the best advise he could have been given back then.
Were’nt you one of those which said(before the collapse) that this (Olint) was the best investment you ever made in your life?
Hmm
Ok guys, I find this one to be humerous.
$134 Billion in a Suitcase, and Other Extremely Large Numbers
http://www.fool.com/investing/general/2009/06/18/134-billion-in-a-suitcase-and-other-extremely-larg.aspx
It will be interesting to see how the licence for Sterling goes.
DW is one of David smiths’ substatial middlemen or pigs as they are called on this forum.
Some of his victims are extremely disgruntled.
Sterling has been dealt with largely on another blog with the Tortola set up etc.
All eyes on the BOJ Governor now.
Stanford was very wise. Spend some time with the girlfriend yes. You blame him for that?
Today, the BBC report that the Lord Chief Justice of England, sitting in the Court of Appeal, has ruled that a trial by judge alone can proceed under the new 2007 powers.
http://www.tcijournal.com/index.php?idsub=1412&id=8
Did Smith pay for TCI Government bills? For ‘protection?’ Did that virus travel from Jamaica and into TCI.
Maybe The WHO needs to ‘quarantine’ The Smith’s and their bad habits.
http://wiv4.wordpress.com/2009/06/17/govt-dept-closed/
The Journal reports that the one-time playboy was indicted and charged with orchestrating fraud through his eponymous Caribbean-based financial firm. Hours later he surrendered to federal agents in Virginia.
Much of the operation centered on sales of high-yielding certificates of deposit, which attracted funds from retirees and others looking for safety amid the tumult of the financial markets.
http://blogs.wsj.com/marketbeat/2009/06/19/stanford-indicted-in-fraud-scheduled-to-appear-in-court-today/
Edd/Harbourshark:
Your attacks on me and Jay are nothing new dude. From the beginning investors have launched continued attacks on my posts. At each new turn they find some new reason to attack. Unfortunately for these investors, I have been right at every turn. Sorry dude, all I have done each time is to apply logical analysis to the information as it presents itself.
You remind me of a former owner of an NBA team, I believe it was the Cleveland Cavaliers. The NBA had to institute a rule that no team can trade away 2 consecutive years 1st round picks… In order to protect him from himself. He continuously made horrendously bad trades for his team, always giving way too much for very average players and so on that they had to protect him from himself.
Dude you continuously make such bad decisions that you need to be put in conservatoship and a guardian appointed to manage your affairs. You have no idea how to look at a set of facts and arrive at the logical conclusion.
…and obstruction charges
http://www.msnbc.msn.com/id/31439494/ns/business-us_business/
Can we all agree that Charles Ross should not get a license in mobay for forex?
http://www.msnbc.msn.com/id/21134540/vp/22887506#22887506
You watching and learning Smithy?
Smithy don’t worry you will in ‘fine company’ pon your ting you will not be lonely some of your favorites will be in your crab barrel with you. Familiar faces. Many going to get a coveted place in……
Schhhhoooooooooool!
20 years Nonco Tec? Apply your ‘logic’ to 250 years.
Come on children the bell has rung time to get back into
Schoooooooooooooooooool.
Even if you have a law dregree and a couple of OJ’s and CD’s it’s never too late to engage the Continuing Education Programs available.
Anyone know what has happened to the Caicos land that Tracey and david Smith and Rex Messam were involved in?
Byushmaster we need some updates.
Reads : 5194
Former Turks and Caicos premier sued by victims of OLINT scheme
http://www.caribbeannetnews.com/turks/turks.php?news_id=17155&start=0&category_id=37
5194 Reads! You know how many struggling newspapers and newsblogs would want that number of reads!
Damn 5194 hits.
Jay
You can’t get the BBC Panorama documentary up? Even just the piece where they interview Lester Bird?
Also indicted were three executives of the company and a former Antiguan bank regulator.
The indictment charges Stanford and other executives at his firm “would cause the movement of millions of dollars of fraudulently obtained investors’ funds from and among bank accounts.”
The firm would give money to some investors “to perpetuate the false appearance that (Stanford’s business) was financially sound,” according to the indictment.
http://www.foxnews.com/story/0,2933,527510,00.html
Looks like U.S. Authorities can have criminals extradited from TCI as well…(wire fraud within the U.S. banking system – DS)
http://www.nytimes.com/2009/06/20/business/20stanford.html?exprod=myyahoo
Hopefully the same will reach persons involved in the O scam.
He owned a local airline, a newspaper…
Mr. Stanford has repeatedly declared his innocence. He said there was no Ponzi scheme, and accused the S.E.C. and the receivers of destroying his businesses and needlessly hurting his investors and employees.
–sounding very David Smithish.
But he has also said that if money is missing, it was the fault of his chief financial officer, Mr. Davis.
—sounding very Wayne Smithish.
http://www.nytimes.com/2009/06/20/business/20stanford.html?_r=1&exprod=myyahoo
Don’t forget Stanford was a “devout” Christian. Like someone else we unfortunately (I have no “fortune” anymore) know. Mixing Business with Religion should be a first Red Flag.
These are called affinity scams. In the case of Olint, C+ etc, I suppose we could call them double affinity scams. They prey on groups that have identity with or have some kind of affinity to the scammer.
For example in the case of DS…
Affinity #1: Scam almost exclusively among Jcans. Jcans identified with him while his pr machine and Jcans boosted him up as the world’s greatest fx trader. We heard comments like if we can produce Asafa Powells (Usain had not emerged yet) as world class sprinters, why not the same in fx trading.
Affinity #2: DS is a good christian and would not scam anyone. Legions of ‘Christians’ identified with this good christian who was being pushed by many pastors and churches. And they did get many of the flock to invest.
If you want to start an affinity scam, Christians are the easiest to scam. To be a true believer the brain is already conditioned to believe concepts that are not logically resolved. Same thing is needed by the scammer. The mark must be willing to easily accept the illogical, like 10 % per month, proceeding to invest not by logic but by faith.in the scammer.
This is of course why we see so many investors continuously seeking scapegoats to blame. Investing was not by logic but by faith in someone. Consider the similarity if a religious person was to die and find out there was an afterlife and no heaven existed, just a hell… he/she would have to find someone to blame for this failure to be in paradise. In this case hell is the loss of life savings while DS had promised a paradise financed with returns of 10 % per month.
You are probably an American Noncotec
usain Bolt emerged ito the World in sprinting at the Junior World Championships in Kingston 2002.
Alas floridian I know about his performance at the juniors… before he broke the 100m record no one expected such performances from him in the Olympics… he did not even run the 100m regularly.. At the time Asafa was the record holder and so that is why he was used as the standard. Now the same comment would be… we produce Usain Bolts…
Look at the facts logically man and arrive at logical conclusions.
Olint was a classic case of Affinity Fraud. Why are we fighting the fact? We posted this video last year June 11, 2008.
http://investforlife.wordpress.com/2008/06/11/avoid-scams-in-online-social-networks/
This one is a good one
http://www.youtube.com/view_play_list?p=DF985F76B59B68E7
@Floridian
What time you keeping school tonight????
Retired from teaching now. Good Luck.
Eternal Father bless our land,
GUARD us with thy mighty hand,
keep us free from evil powers
Be our light through countless hours
To our leaders great defender
Grant true wisdom from above
justice, Truth be ours forever
Jamaica Land we love….Jamaica…Jamaica…
Jamaica land we love
Sherlock.
@Floridian
Aaaah boy I hope your spirit is not broken….
Smith’s extradition is imminent. That will be the most significant development of the year.Which politicians will Smith testify about? Vaz, Creary or Robertson ( The 3 million dollar man).
When will the PAJ cite the Gleaner for paid journalists?
@Dead Monkey
Is it that you want Smith to be extradited or is that really the case?
Interested
I give you one last (Key) crumb because you need it maybe.
Hallmark was never licenced to take money and invest it in any way.
Go forth students….I’ll check from time to time. Impress me.
Premier Williams told a Press conference on Friday that he had not slept “in weeks” due to anxiety over the nation’s tribulations.
http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=1345&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com
has received a grovelling apology from the TCI Government.
hahaha there’s that grovelling word again.
Damn, with the Antiguan FSC guy getting screwed ALL the officials in Jamaica and TCI that took money from the Smith gang must be uptight….to say the least.
All those Jamaicans living over on Provo and the facilitator set must be weak in the bowels.
What’s that Nonocotec? The facilitataors and the bribe takers have someone else to blame but themselves?
I agree Noncotec This is a time for each and every person to take responsibility for what ‘they’ did.
Surely they were not tricked into being bribed.
Or mabe Noncotec or someone else can twist it into, ‘they were tricked when they were bribed so that’s that let’s move on’
hhahahaahhahhahahahahahahhahahahahaaha
What a lot of dignitaries shouting “I was tricked” and “I was fooled like eveybody else” hmmm what is changing? All of a sudden? just since recent times…..
The tune changing. Where is all the big talk gone too?
Snapper? What’s happening? Peter? What’s up?
Smith goes to TCI and was the rage among Jamaican’s living there. They all clamoured over each other crab in barrel style to get close to him. All kind of contracts and real estate and projects with all hese facilitators went up FULL SPEED AHEAD CAPTAIN…
How come the associates and facilitators so quiet?
Sticking heads in sand? Not for much longer. The lawn mower coming.
Yes, not changing no course. Full speed ahead…..with INDICTMENTS.
Floridian… we are all waiting for justice
Lucky thing while you were waiting some people toiled.
BEST comment thus far!
I concur wholeheartedly….this has been the lesson of a lifetime….despair without action gets us nowhere
The ‘lesson of a lifetime’ is what the facilitatators and associates who helped Smith will face.
Nocotec….I warned them and told them so..
Hardears
Does an indictment mean that ‘others’ wont be charged?
Oh yes ’superscede’ Answer my own question.
Yes based on testimony coming out of Smith’s little game additional people can be charged.
Like associates and little helpers.
Interested
Who are the names people in the phot on the front page of http://www.olintja.com and what are their roles in the crimes?
the only people I recognise are DS and JW….the others I dont know…look like I fail this test today….LOL
floridian
If we heard that Usain Bolt had run a 100m race in rural Trelawny and set a new world record of 1.95 seconds. And it was not an officiall meet and there seemed to be no independent witnesses, would you believe it? And why not?
Because it is not plausible. There is no one that has ever done anything remotely close. Only a complete fool would believe it.
It is thus amazing that DS was able to claim returns of 130 % per year over several years when no one has managed to sustain any such returns legitimately, or even come close… And yet many thousands were duped by his claims.
You and others have said if politicians were duped, should they be allowed to run the country…
Question: If a doctor was foolish enough to be duped by such obviously false claims and invest US $2.4 million, is such a person fit to continue practicing medicine? Would you recommend your mother to him?
Does it not cut both ways? How come people were duped to invest but it is not possible those that got donations could have also been duped to believe he was a legitimate fx trader?
Apparently DS had to have a meeting with a number of the people close to him to show the false documents or computer screen of funds he had or his trading history… Now if all those at the meeting were co-conspirators, why would they request a meeting to see proof? Does that seem logical?
It is very likely that DS had a number of people who were conspirators but simply accusing those that got money is not enough. Proof is required as those that gave money were duped and many that got money were duped too. One needs an investigation to discover the guilty parties and unfortunately the JA legal system is not up to the challenge. Hopefully the TCI or US system will fill the gap.
Noncotec
I hear your points. You might just be brilliant. Well articulated.
Noncotec someone of your gifts might help the rest of us here:
Who are the people in the picture on the front page of http://www.olintja.com and what was each individuals role in stealing the people’s money.
A doctor needs a beeper and a scope some pitosin and a good midwife on hand. 17 babies a day and most go like how it was for caveman.
Negotiating with multilateral agencieson behalf of a country requires an astute financial mind, integrity and a business acumen unbridled from a high false ego.
Representing a nation of 2.8 million requires integrity most of all followed closely by transparency and accountability.
Responsibility for 17-25 babies a day is not the same as representing 2.8 million.
Ahhh what’s 17 into 2.8 million…..ahhh help with the math Noncotec.
If a doctor gets ‘tricked’ by a set of criminals who have a solid history (albeit neatly hidden) of financial malfeasance the Doctor can still instruct a pateint to ‘PUSSH’
If on the other hand a person supposedly ‘tricked’ by Wildish and Smith has control of an entirecountry’s finances it might be a litlle different.
Anyway Noncotec your logic is still as solid as the air we breathe and the Kool Aid on offer.
Let’s get to your assesment of the photograph on the front page of http://www.olintja.com
Noncotec you said above,
“Apparently DS had to have a meeting with a number of the people close to him to show the false documents or computer screen of funds he had or his trading history… Now if all those at the meeting were co-conspirators, why would they request a meeting to see proof? Does that seem logical?”
Noncotec, Perhaps it was just the ‘time’ to make the crowd think you were silly or duped.
Who in the meeting spread the news that Smith was showing false documents?
Noncotec, there are Olint members who will show you ‘paper losses’ even some large amounts but take a little time to think here. If I say to you I lost a dollar but I hold from you the fact I made 100 dollars. Am I at a loss?
Might be good for me though for when the police come I can show them my statement that shows I ‘lost’ a dollar.
What say you Noncotec?
Question;
Someone sues your brothers, your mother, your sister in law. It is reported on the front page of the newspapers (in more than on country). It’s all over the radio 9in more than one country). One of your brothers is arrested for faud in TCI.
Would you write an affidavit saying that until you were served your summons you had never heard the name of the person suing half your family?
Would you take that risk Noncotec? You believe her?
You think the 12 will believe her?
@Nocotec excellent point. Question though wasn’t it closer to 210% per annum if they were rolling?
Being duped does not mean that person is capable or intelligent. If you let your guard down, the likely of being duped increases. This is what happens regularly with ‘affinity fraud’.
Being duped over and over the same could however point to insanity. “Doing the same thing over and over again and expecting different results” – Albert Einstein.
The key point here is that persons admit they made a mistake, learn from the mistake, help others not to make the same mistake and pursue legal remedy were possible.
Ever heardr of a default judgement? Well, it is very easy to obtain in Broward county where they are always very happy to dispose of cases.
Her defense seems well advised.
@jJohnDoe
Yes it was 210 % plus for those rolling and most people were rolling.
Higgins Warner & MayDaisy were promising 20% per month or nearly 800 % per year and they still got many hundreds of investors.
Pastor Che Cowan. Leave Jamaica and start again ehh? No more Church on the Rock
Big backers of Smithy moving on queitly.
But you own fleshy dem in America under sufferation from David Smith fraud.
You don’t feel any compassion or shame Che?
And you back him Che. Cold as ice.
Christian you call it?
Oh?
Defense well advised? You mean the robbery was ill advised?
how so many of them believe the new edit of David Smith soooooon pay and quietly packing up and leaving Jamaica?
You think it’s a few of them?
No idiot! The defense. The claims laid out in the respondent’s affidavit. It appears it was well advised.
In a court of law (not on the blog, blog hero) one must put forward a defense (and appear in court) or a default judgement may be entered. Here, we see two respondents claiming they have no knowlege of the claimant’s assertions.
Granted that we all hate David Smith a person should not be sued because their relative is a thief. So if their claim of having nothing to do with OLINT is true, they are doing the right thing to file that affidavit in a timely manner.
I still wonder, after reading so many of the blogs from the past 18 months or so, why folks with no investment in OLINT would be so deeply involved in blogging, and so emotional about it…..Lies lies lies.
I now have reason to believe that by instincts were right. The hypocracy is astounding…I take it that is a jamaican thing. Damn, you guys are good!
Stop trying to hide your IP address….Ha a Ha
Who again did not invest in Olint? Well, I must be seeing double!
For those who don’t know, some are seen as taking the high road…very clever guys. Why on the road at all?
Inquiring minds want to know…..You know who you are….Very clever!
Why not set up a stanford blog?
Tafari
You should try not to hate people. you may dislike people and be disgusted by them or pity them but hate is kind of strong.
If you wern’t invoved in Olint then you would not take up a position in their organisation or enter into contract with them.
Look Tafari, you back Smith it was always obvious gook luck in your endeavours. Stay focused sometimes your own emotion gets the better of you.
I assume you have done absolutely nothing wrong in defrauding or robbing any innocent person. Once that is truth you will find a calm comes over you.
Smith on the other hand barracades himself in Chaulk Sound. Hides and runs from service of process. not the actions of a man confident in innocence. Associated persons run to authorities quickly now but stood still (like deer in the middle of the road) for months. Judge if you will but these are not actions of people who seem confident of anything not least of which is their innocence.
The facts will show that olint money purchesed assets like homes for associates and family from the victims money.
look all when people get carted off to prison them scream innocence.
If there is a discrepancy and accusations both parties should be anxious to get on with court proceedings and prove they are right.
Smith not in that. He knows why and he knows I know why.
The FBI see a similarity between the Antiguan government officials and the Vaz-Creary group’s conduct. .Maybe Creary will be indicted soon, I wonder who he will implicate?
And he knows I have the proof.
If he does not want to place some creedence or value to that then so be it. I give it as a gift to the tens of thousands of sufferers (many to shame to even complain but who suffer in silence).
Smith can turn off his mind into a vacum. He can laugh and prance while just coming off a phone line telling some victim in most somber tone that everything is o.k.
2 years of this.
How does he do this and turn off concience and the ability to feel the pain of others?
Why he feels he is entitled to what he wants no matter who gets hurt.
Ask him about his childhood and you will know.
http://www.jamaicaobserver.com/tools/todays_cartoon.asp
creary in jail finally! A triumph for democracy!
In Jamaica, politicians don’t ever go to jail….The build them, not live in them!
Bad Man,
Which Jail????
See how damn stupid you are floridian…and a homo too? What in anything I wrote suggests to you that I back Smith?
Nothing suggested that my emotion is “hate” either. But what if it is? You would be easy to hate.
Why do you blog so passionately about Olint mr? You invested no money, right? Why do you care? Oh, sorry it is personal!
So bloggers,as you read the various positions taken by these self appointed authorities, ask yourself this…why would anyone, not involved in the Olint robbery/scandal/mess, invest so much time to establish a blog, and spend so much time (years) blogging on the issue?
Why oh why?
I started blogging reluctantly after months of reading the blog. And my instincts were right..there was something not quite right about the way one would be attacked for merely suggesting that there had to be money somewhere. And for the folks who dared to offer some support to the idea that David Smith may produce some money after all, well they know what they exeperienced.
Then I realized that my thought provoking (or to some anger provoking) angle would lead to no meaningful information here. I then hired someone who was able, not only to get a trace on some stolen money, but to find out who is behind some of the personalities on this blog. And boy, what a surprise.
For instance, when you were having your little one on one meetings with David Smith in Chalk Sound, did you not know that he was a thief? And did he not pay for the trip to the TCI when you went there? Tracy Smith thinks so…She believes that you had an affair with him, guy. Did you know that she knows?
So examine the positions taken by some of these bloggers and always ask yourselves why…
Why. Why.
Why is it that some folks try so hard to convnce people that there is no money to be found? The same people that say on this blog that they had meetings with DS? Why?
Why would some get so angry when someone suggests that will follow the money trail? WHy?
Why do they so eloquently try to encourage folks to just give it all up and move on? Why?
Wel, in any scandal, political, investment scheme, whatever, always follow the money and then you will know why.
floridian, on June 20th, 2009 at 11:37 pm Said:
And he knows I have the proof.
//////////////////////////////
Of course he does. Oh the intrigue…..
Creary will find himself in FDC and then Leavenworth.Check iit out. King said he was not going to jail in Antigua.
If convicted on all charges, Stanford faces up to 250 years in prison.
I wonder how much David Smith will get.
Wow! Tafari Francis has finally lost the debate with Floridian and is now resorting to gutter tactics. You can know the “loser” of any debate, either they take up their ball before the end of the game and shamefully go home or they get angry and make scurrilous statements.
I have a question for you Tafari? If Tracy had those suspicions about her spouse, why would she still be involve with a faggot? Better still, wouldn’t she be embarrassed to share those suspicions of her husband with anyone? Hey Floridian, I wouldn’t let Tafari get away with that comment…what you going to do about it? You cannot let HER question you masculinity like that. Those are fighting words……
Tafari, in light of your new “approach”, I now question you previous declaration that you are a graduate from such a fine institution as Princeton University. Did you get your degree via a correspondence course? You seem to know a lot about the legal system in Broward County (Respondents?…someone very exposed to legal terms). Are you sure you live in South America? Are you sure you are not the fag on this blog…I notice you keep calling men on this blog, “dear”. What do you have to say Tafari; you are a fairy, mon….sorry, miss. Or is it that you are looking friends of similar elk?
Let us get back to debating issues as oppose to generating silly comments on bloggers sexual orientation…real or imagine or even researched. It make you Tafari appear….well….like a buffoon!
You would prefer to see my allegations in an indictment than in the blog?!
Stop blocking Ho. You will regret it.
David will get 30 years to life.Tracey will get 10 if she talks.
Mike D
Tafari is like journalists that when action start dem run under other man seed. hahahahaa
Mike D
Nuh worry yu intention many going to learn what really is wi nuh play.
Not much more waiting.
If you research this blog you will see that Tafari is a high hermaphrodite.
@Tafari
Descending into the usual silly accusations does nothing to further your arguments. In Ja accusing someone of homosexual relations is usually enough to end the arguement.
However in this case one could make the argument that if you invested in OLint that DS screwed you royally.
Oh, now I get ! I can truely see why he might be classified as bisexual…..he is impartial as to who he screwed in the process!
Its interesting though that Tarfari is the only person I know of who invest in a Ponzi after it has CRASHED and have big chat after the fact
Sorry Jay, just had to get that one in. Its all Nocotec’s fault.
Guys,
We need not descend into the gutter to get the message across. The level of post in the last few hours has degenerated significantly, lets stop the slippage.
Badman: I started reading Nettlefords Mirror, Mirror after you posted it on this blog as a window into jamaica class and race paradigms…Wicked peice ‘a book. Didnt know Nettleford was so wicked. I heard about his rasta research but this was unexpected.
Its funny how you suspect certain things from the time you are young. Usually you hear people (yours truly included) talking through their ass about race and class, and adding all kinds of anecdotal conjecture and guesswork to emotionally cloud the issue. But instead, this was a real sociologist stating only the parts that are really true from all the race and class commentary. Its rare for me to see this kind of work about Jamaica, with all the interdependent issues laid out in plain english with reasearch and footnotes to back it up. He’s goes back fifty years and more…to show how our attitudes and valuse on these issues were built from scratch. It is a very different experience for me.
Respec Badman. It just shows you never know where you will find a good book.
-Söze
Will pick up a copy. Hopefully a local bookshop will have it in stock.
Thanks for the recommendation.
wow. Tafari… I can only repeat the same advice I’ve seen given to you before. You might need to go further back than a few months in 2009. re- read the blog – catch up on the history – wheel and come again.
This blog has its own language of communication beyond words. understand that over time – you will get familiar with the ‘voices’, and perhaps the motives (or the motives bloggers want you think they have).
badman.. I’ll be checking amazon for rex’s book!
gentlepeople- till such time.
Mike D:
Please note that I was never in a debate with anyone. I set out on what I thought was a common ambition among bloggers – to discover the truth about David Smith and Olint and to recover monies lost.
Read again what I posted. Stop worrying about the “debate”…read my words. I am not one to make unfounded allegations. In fact, it would be childish, selfish and irresponsible even criminal to do so.
I blog under my own name, I have given out my email address as well as much personal information. I have nothing to hide and anything I state on this blog will be supported in a court of law with facts or at least a taped statement….He knows exactly what I am talking about.
So I say to you good folks again….ask yourselves why. And always follow the money!
“This blog has it’s own language”…yes indeed it does. learning that language has become fun over the months. And may I suggest that I haI’ve read probably every blog still available….Very interesting stuff.
learning who the people are and their relationships to polititians and even David Smith has also been fun.
Their IP addresses was available so that was easy….
What was interesting was reading what they are writing on this blog, and comparing it to the information gathered about their relationships…hypocracy!
Nocotec:
That was actually funny…
Can I ask you kindly sir, a very sincere question. Have you or have you not, benefitted knowingly either directly or indirectly, from proceeds from investments in Olint, Olint TCI or any related “clubs” or “companies”?
How about you Jay?
How about you floridian?
Your responses will greatly assist a simple, unintelligent, foolish “investor” in his quest to get to the bottom of what appears to be a very interesting puzzle.
Nocotec and Jay, could you please give mi sum of the Olint money nuh…you know, the benefits that you both derived directly or indirectly from Olint/Olint TCI…please? hahahahhaaaaaa
Tafari, what about JohnDoe or me? How much did we get…we are somebody tooooooooo
Or is it that you couldn’t decipher that type of information just from our IP address (which by the way can be change on very short notice) or your crystal balls?
This is getting funnier and funnier by the minute!!!!
He who knows and knows that he knows……
Somehow Tafari for all your good intent and for all your extensive reading of the blog you shed little light on to the fraud, the players and what is going to happen.
defroked?
Is it your wish that the culprits go to prison or not?
Yes or No.
Mike D:
It is unacceptable for anyone who enjoyed such a close personal relationship with David Smith, even epending Olint’s money, to be here pretending to be someone else…..Unacceptable!
No attacks on yoou Mike D. I understand that to you my references seem a bit stupid and low-down, and they appear to you to be the rantings of a madman. Don’t worry. Tafari hasn’t lost his head…not yet anyway.
Again, folk, follow the money. Follow the money.
Mirror Mirror, perfectly explains Olint. A brown guy has an idea.As soon as it makes money the white people befriend him and steal the idea and the money. Now the brown man is going to jail, because he shared his idea with the white people.I am sorry for the brown man. Norman Manley told John F Kennedy
that Jamaica is a black country. A Certain Person are trying to keep black people in Jamaica down. He will fail. Remember “Bag o Wire” he went mad after selling out Marcus Garvey. Wignall is Bag Of Wire and Creary is Judas, as he has sold the Jamaican people out for pieces of gold. Happy reading Soze.
Tafari
Prison yes or no?
Trying to follow Badman. Steal the ‘idea’ and the money? hmmm o.k. let’s work with that for the moment.
All Smith would have to do is tell one….only one…. Olint investor who has stolen the money from ‘him’and that would be the end of that.
Mi no sorry fi no man too quick could be purple. No gyal neither.
i can see that at this juncture a lot of things changing. Some subtle some blatant.
Why?
Because the calamity is just about to begin?
Don’t tell me people were so stupid to think that the calamity of the proud was not going to come. upon them.
What about the con lawyers. When culprits run from the blog to them and then the con lawyer says no man just give me a money you alright.
It’s been a big lesson in Jamaica. Same time you have lawyer in your camp that lawyer all of a sudden facing big problems themselves.
Big timer run them mouth in ways unchanged for hundreds of years then a modern miracle..
a package reach in the mail with your own emails and history of your cases and other things….
Shazam! Gone…..lightening speed retreat start prepare some legal doc for “yourself “for a change all for free.
Yeah.
Although such a significant social juncture has occured in this nations history largely unoticed by the majority of its citizens it has come to stay.
Has Creary been arrested for real?
-Söze
the self perpetuating myth that a corrupt lawyer and a lot of money provides adequate ‘frock’ for you to hide behind has been smashed……Smitherines
Many now lament ” I should have done medicine”
On Mirror Mirror I pass no comment at this time.
But if the other professions and sections of our society can take a page from this (Olint Debacle) and enter the 21st Century (instead of veranda chat) Jamaica will be well on its way to solving its pressing problems.
I am one of the “friends” that used to enjoy the action at Sabina with the Smith clan.
When the OLINT JA blog released the evidence that Yana knew OLINT was a Ponzi, then I realised I was not as close as I once thought.
Although it is hard for me to say this, I have to give the credit to the Doc who has obviously created a formidable team of lawyers and private detectives.
Personally I cannot call the man stupid for putting his money in OLINT. Hell, I did and I was a “friend” with access !!! In fact, we all as friends had money in the damm thing.
As a woman, I admire someone with guts to stand up to David and his lies. Nocotec,Jay, Johndoe…you could learn a lot from the man you call stupid.
If I had such a challenge to get my B.S, I am in no position to say a man with so many letters behind his name is stupid.
I would love to know if Nocotec, Jay … have ever made a mistake in their lives. Apparently, they are paragons of virtue with an IQ higher than Albert Einstein and so we need them to step forward and publicly admonish ALL olint investors for being stupid.
Doc, I do not know if you read this blog but let me mention a few points.
DC the marketting guru should also be investigated. Like the man who helped Stanford to recruit investors, he too should be indicted.
My friend works for a newspaper company and your sources were correct. The lifestyle of some journalist does not correspond to their salaries-. Hmmm.
CR who is the CEO of Sterling is someone my husband knows. His wife is an attorney and that man is helping David. In fact, he wants to start offering Forex trading. My husband understands this is another scam for David.
I have so much more but this would not be the best forum to share those details.
Doc, on June 30th I will be in Miami and if you want more support with your legal cases I would be happy to meet with you and share important details regarding David and his “bag of lies”.
@Tafari
If you are asking me if I benefited financially from Olint, you either have not read the blogs or you we have to question your sanity. You should pose that question about me to long time Olint investors and supporters… even they would get a big laugh from that. A better question is to ask them to name the folks on the blogs that have been the biggest thorn on the blogs in the side of the UFOS.
Your question is so ridiculous, it does not deserve an answer. Suffice it to say that had folks paid attention to me, Olint TCI would have got $0 not $220 million. And no one would have benefited from Olint TCI. You are better served by asking me to predict the likely outcome of anything you have an idea about doing about these ufoS… You will find that I am not often wrong.
Cricket pal
Well said, there are two people on this blog who combined have known David Smith tatalling more than 70 years. If you add Peter that’s worth about another 36 years.
Sometimes ‘on the social scene’ as the newspaper terms it people ‘in the know’ push themselves up but ‘know’ very little if anything at all.
Jewel2sell is high up on this list. I assure you.
Well done cricket plan. I wish we had more women on the blog. Jay is a pain.
Not many of you here would be expected to understand the Lee Oakley significance. Suffice to say in the words of David Smith himself, “it lock.”
@Cricket Pal
If you were around the blogs long enough you would have seen me say that I think Newton was the smartest guy ever but he got swindled in the South Sea scam.
If the Doc had spent 1 thousandth of the time he is now spending chasing his money… if he had spent just that much time investigating if the claimed returns were plausible he would not have invested. Investors taking that much money, or their life savings or borrowing money to put in the UFOs was the zenith of stupidity.
It is so incredibly stupid it was unbelievable. To follow that stupidity, it means that you should look at all your investments every month and transfer all your money to the stock, mutual fund or other investment that had the best return the previous month… Every month repeat the process. That is obviously stupid… so why the hell did so many people do such a stupid thing with Olint.
Nocotec:
I heard a wise man say a long time ago that there is no stupid question. Especially not those questions asked to provoke a “reaction” (said the little wise man).
Have you invested in Olint? Why do you blog? Just out of concern for the masses (of stupid Olint investors) I suppose. Right? Oh, stupid question again….
Floridian:
I am hoping and praying that everyone involved in Olint finds themselves behind bars…for a looong time. And I wonder daily why the other perpetrators such as Tracey, Wayne, the staff, haven’t been arrested to date.
And you floridian, from what I am hearing and seeing, may be in the cell next door. Prison yes or no floridian?
Let us look at some actual numbers and then try to figure out what people actually believed when they invested in these UFOs. There were generally 2 types. There was the group like Olint and C+ that tried to average 10 to 12 % per month. There was a second group like MayDaisy and Higgins Warner that promised 20 % per month.
Olint was in existence for what about 5 years?
At 10 % per month in 5 years every $1000 would grow to $305,000. Every person able to come up with an investment of $10,000 would have $3.05 million in 5 years. And folks thought this was plausible.
Olint TCI took in $220 million in about 1.5 years. US $220 million at 10 % per month would have grown to US$67 billion in 5 years. Very plausible right? How long did it take me to do that calculation, how about 30 seconds.
Look at MayDaisy and Higgins Warner: Every US $1000 in 5 years would grow to US $56.3 million. HW had a minimum investment of $5000. So you could invest $5000 and do nothing but wait 5 years and you would have US $281.7 million. LOL
Now how do you classify people who fell for this when they were continuously warned and a 30 second calculation is able to reveal just how totally and absolutely ridiculous the claims were. Let us not call them stupid but someone classify such behavior for me… And do not say greedy because that is also been deemed by investors as not appropriate
Nocotec,
I had a discussion with an AVID believer in Mr. Smith once about this very same thing. and the fact that there wasn’t NEARLY enough money in the world to support these kinds of returns. The response I got was,
“well, everybody isn’t rolling over, in fact most people won’t keep rolling for long periods, and so those kinds of returns won’t be happening”
yes I know it sounds ridiculous, but, this was just ONE of the many ways that olint gamblers/investors/whatever tried to rationalize HOW this was even remotely possible. (forget the fact that if Mr smith was really trading that volume of money, and winning, he would NOT being doing it through a broker like OANDA… he would BE Oanda)
Even now with OTC FX trading, there are people that believe that 5-10% returns CONSISTENTLY per month are possible for long periods.
I see it mentioned again and again that I should “read the blog”….well, I have read the blog and read between the lines on the blog. very clever guys but every fool has his day. Can we do a roll call? Let’s see why each blogger here finds the time and spends the time to blog on this issue..furthermore, why are some bloggers so passionate about the issue…
1. You invested money and you are angry with David Smith.
2. You invested money and still believes that your saviour David Smith will pay you back someday.
3. You did not invest money but your relative did.
3. You did not invest money but have the time on your hands because you have no life.
4. You did not invest in Olint, but you know David Smith personally and thinks he is a “good man”.
5. You did not invest in Olint and you are worried that you will get exposed because of your past relationship with david Smith.
6. You did not invest with Olint but you have a favorite polititian friend that got money so you blog to steer people away from seeing that.
7. You did not invest in Olint but you hate David Smith because he has a funny name……………………………………
I have never met David Smith so I do not have the “personal information” you have floridian. I never had dinner with him or spent time in his bedroom at the house in TCI.
I was simply foolish enough to invest money in a scam. I want my money. That is why I am here. So why are you here floridian? Let’s see, you can choose one of the above or you can simply add your own.
Prison for me Tafari?
Ever thought that without me Smith might walk scotch free? Obviously you need to do your study of the blogs again.
You a Jagan Tafari? Listen close…..no man come closer….”Sick a dat”
In Princeton English. No.
It’s very strange…
People were so quick to boycott NCB, Scotia, Super+ etc because they felt that David & Carlos were ‘getting a fight’… but yet it has now been shown that Mr. Issa and ‘others’ were benefiting GREATLY from olint all while the larger population suffered, but yet there is NO mention of boycotting any ‘cool’ company or even WORSE yet, seeking to take action against any of these people.
I suppose the world REALLY isn’t level.
Let me be brutaly honest Tafari.
If it is your money you seek from David Smith. Attacking me will not take you closer to it.
Ask any of the other bloggers to explain if you don’t understand.
Nocotec:
I concur. LOL is right.
When I invested, I was shown monthly returns for seven months ranging from 5.34 to 11.5 percent.
Where did that 10% number come from? A constant 10% would have given it away for me for sure.
I can assure you that 7 to 11 percent is possible, even practical. I am a relatively inexperienced trader and I managed 5.7% last month. Yesterday I was lucky…14% (but that is just one day – I lost a few dollars last week).
Even foolish I would think that anyone who was told that there was a constant 10% return per month would be alittly silly to put their money there.
floridian:
You can answer the question or you can leave it alone. It will all come out sooner or later….What is your motive? Aren’t you a little worried?
Worried for what? Just be patient. it won’t be much longer and what was hidden from the wise and the prudent shall be revealed to the babe and the suckling.
“”"”"Ever thought that without me Smith might walk scotch free? Obviously you need to do your study of the blogs again.”"”"”
Yeah, that is what everyone thinks. I know who you are….Youa re very good though, I give you that.
You didn’t invest, right? WHy are you so mad at your one-time pal?
Be brutally honest, DUDE!
I learned a word. Hope I spell it correctly. The word for today is Ginal. It is not new to the Jamaicans on the blog, I know, but it is new to me. I love it. Ginal anyone?
Babe and suckling, that’s me. Reveal dear wise one. Reveal. And be “brutally honest”! Please!
I can’t wait.
But I digress….Why am I here again? Oh! To find the money David Smith and his pals stole.
Can anyone say real estate?
Oh, just before I move on, I must say to you my dear friend Sirach, it doesn’t matter who knows what first or when. It matters who knows what you want no one to know.
Dude
Why you can’t relax. it’s Sunday.
Listen I hear the http://www.olintja.com blog is ready to roll out a whole interesting set of emails wider in scope and more interesting personalities. A whole new set of pretty pictures geared more for the over 18 crowd as well.
Patience Tafari. You can tell the private detedtives to take a break for a while.
@Tafari: Have you invested in Olint? Why do you blog? Just out of concern for the masses (of stupid Olint investors) I suppose. Right? Oh, stupid question again….
Had you been around long enough you would heard me give the answer to your question on several occasions. Investors consistently believe that only investors who were dumb enough to get scammed are worth listening to… Kind of explains why they got scammed, right? Blind leading the blind…
I blogged not to convince those who had already invested… one quickly found out they were smart and you were dumb… they had found the best thing since slice bread and you were just bad minded and grudeful. I blogged to provide info to those who were seeking information before making a decision to invest. Those that invested had no need for independent info, they knew it all.
@theCynic,
Spot on brother.
Point taken Cynic
“You didn’t invest, right? WHy are you so mad at your one-time pal?”
The question is: Was he the little pig who built his house out of straw or bricks???
You still a talk and walk sideways like a crab, ehh Sirach/Harbourshark/Belcher/Floridian………….?
You two should just get a room and f_ _ k it out.
http://www.sunheraldja.com/article/show/2818
@Tafari
Average Olint’s returns over 3 month periods and you will see he was trying to average 10 % per month but because he was just pulling numbers out of the air he could vary the numbers.
@theCynic
Yes, I experienced the same kinds of irrational answers. At a social gathering, I once had 2 investors turn their backs on me because I was clueless.
Even now listen to Tafari, I can assure you that 7 to 11 percent is possible, even practical. I am a relatively inexperienced trader…
I suppose the the last sentence explains it all. Dude let us take the mid point of your 7 to 11 per month, that is 9 % per month. A return of 9 % per month compounded means an annual return of 181 % per year. And you think that is practical? You actually believe it is practical to start with $10,000 and turn it into $1.76 million in 5 years.
In other words even now you have learned absolutely nothing from this scam and would fall for another such scam today. You still have no idea how to determine in a logical manner what claims are plausible and what are not.
Smithy your flock is calling you. Help them nuh? Two Panadol won’t dent your pocket too much.
@theCynic
Excellent point… Where are people who were ready to boycott NCB, Scotia, Super +? Are they not interested in boycotting the … given what they now know…
Nocotec:
Six months ago, I decided that I had known enough to move from a practice acount and started trading with 2000 dollars. After the first month, I had a balance of 970 dollars. Since then, I have had some losing trades (actually too many) but I have averaged around 8 percent monthly. So yes it is practica, I am doing it. Forbid that I will lose in the future…..but to date, I am not doing so bad.
Now in terms of actual dollars, it is not alot because I started quite small and I do not intend to fund the account any time soon. But I do it trading four or so days a week. So say again that it isn’t possible.
We all know that David Smith ran a ponzi….We know that the guy is a damn thief. But it is possible to have average returns of 8 percent monthly at least, (I did it).
It is also possible to lose 8 percent monthly, all that needs to happen is to have a few trades go against you.
Say again that it is not possible Nocotec.
It was great that you told people that the guy was a thief – that his operation was a lie. But if the reason you had was that 10 percent (average) was not possible, then you got lucky.
The guy ran a brilliant scam…..He got out of Jamaica without being arrested, even after his operation was raided, still managing to get folks right there in Jamaica to give him their money again.
I got in on the advice of a friend who was with him for over a year. Luckly I didn’t put everything in there like I later found out many did.
So you know my story. My motive. Your stated motive is that you just care about the poor investors and want to educate and enlighten the masses. Well, I find that coolaid as difficult to drink as the Olint story. Your noble highness.
Tafari said: “When I invested, I was shown monthly returns for seven months ranging from 5.34 to 11.5 percent.”
Given that the figure was 5.34 to 11.5 per month, let say you came up with average of about 8-9% per month how far away from 10% is that? The fluctuating interest rates was just to dupe people. Do you get that?
I tried to explain that to people while the scam was running hot but they refused to listen opting to either chastise me for being bad-mind or being too stupid to be missing out.
Tafari said: “I can assure you that 7 to 11 percent is possible, even practical.”
If you are talking about returns per month consistently you are most likely a sitting duck for another scam.
Listen people you need to wise up to how con-artistes work. Don’t bother propagating that nonsense again….
Bloggers all, the Olint coolaid was dirty enough. There is another scam being perpetrated. The guy sirach, floridian, and others wants you to believe that they never invested in olint, that they just care about you, that they are providing all the info you need..Then every now and again you hear, well this piece or that piece of info we will have to hold for the court.
The guy was a friend of David Smith. He enjoyed the good old days of spending your money. Now he is angry as hell at DS. Why? Thief from thief makes God Laugh!
Tafari, Sirach if he really is who he has claimed to be, has made it CLEAR to all that he invested money in olint and is attempting to get BACK that money and bring justice to Mr. Smith.
Larry, on June 17th, 2009 at 7:10 am Said:
I will no longer be contributing to this blog. There is an illicit relationship between Vaz, Creary and Jay. That is why they keep on removing my comments, all supported by facts or reasonable inference.
//////////////////////////////
What was Larry talking about? Is he just another crazy dude?
I am still waiting on the brutally honest part.
floridian, on June 18th, 2009 at 9:02 pm Said:
Prophet Phinn? Neil Lewis? Snapper? Anyone?
In my hand I have a glass of Kool Aid. The Glass is covered so that you may not see the colour of the Kool Aid. Now for a prize of an all expenses paid (courtesy Olint) three week cruise around Kingston Harbour….
….can you predict? The colour ! of the Kool Aid???
hhhahahahahahahhahahaa
///////////////////////////////
Can anyone guess the color of the coolaid?
hahahahahahahahaahaha
@Tafari
Bloggers all, the Olint coolaid was dirty enough. There is another scam being perpetrated. The guy sirach, floridian, and others wants you to believe that they never invested in olint, that they just care about you, that they are providing all the info you need..Then every now and again you hear, well this piece or that piece of info we will have to hold for the court.
Yes Tafari, you forgot that this so called ’scam’ takes no money from people. So in essence then victims can enter the scam and leave when they want. It costs them nothing.
Tafari. The end stage is here. Everyone knows it and most are calm but like Smithy who cam out in the press recently and like Misick who is very active in defending human rights all of a sudden so too does your own calamity have you acting in ways that would have seemed out of sorts for you a few months ago.
Don’t worry the good news is that this phase is one of the shorter ones and the next phase is therapuetic in that due to its calamitous nature a welcome side effect is that the stage bothering you now is removed from memory.
Trust me. In short order David Smith is not going to even remeber who Duke of Earl is or what he said and did in this the shortest of phases.
Who knows Tafari, You just never know. you might find that just like Simon Peter when asked if you had cussed out Floridian you might say you never heard of floridian in your life.
These things repeat daily over and over in the World. Maybe not in some people’s halo world that they can’t grow out of but in the real world the things I tell you about Tafari are common occurances.
If this phase is bothering you or giving you cramps try two Panadol. The phase passes relatively quickly.
ECB severs all ties with Stanford
The England and Wales Cricket Board has terminated all contractual links with Texan billionaire Sir Allen Stanford.
http://news.bbc.co.uk/sport1/hi/cricket/england/7900632.stm
Bette Ann Gordon has swiftly followed the example of the ECB
The IMF is aware of this blog and the moneylaundering of Charles Ross.
stop slandering people name like this.
@Tafari: Six months ago, I decided that I had known enough to move from a practice acount and started trading with 2000 dollars… It was great that you told people that the guy was a thief – that his operation was a lie. But if the reason you had was that 10 percent (average) was not possible, then you got lucky.
Research shows that it takes about 10 years before one becomes at expert at any task. You have been trading months. There has been no one that has achieved anything remotely close to sustained gains of 210 % per year (DS claimed to be doing it for maybe 5 years). Yet you believe it is possible.
You are the illustration of what I mean that investors knew how ’smart’ they are and would not listen to anything. It is also what I have explained about how the brain works. Here is someone that can look at a set of facts and yet still arrive at an irrational conclusion but it appears to him to be a rational conclusion.
This in effect a form of madness. In this situation we often describe people displaying these behaviors with terms such as stupid, greedy etc…
I am not Floridian.Jay and Nocotec when the Stanford indictment is unsealed you will see that the Federal Government ideas are close to the Doctors. Particularly on the responsibility of foreign political actors. Politicians who facilitate crime are criminals. Politicians who take investors money for political conventions and political pr and advertising will be classified as criminals.
Nocotec take it up.
There are other who are part of the Olint conspiracy who have made millions of USA dollars from this scam and living confortable as we speak.
There names have come up in numerous emails, and based on what I have seen myself, they have been untouched in this entire affair.
Those who have lost need to make sure that the Liquidator are aware of these persons and provide him with as much information as possible, so that he (the liquidator) could try and get back funds from these guys.
If not the not, the liquidator will quickly terminate this case, if he finds that the amount of funds available is getting pretty close to his fees, and that efforts beyond that will reap no rewards.
At this stage the liquidator would have liquidated at known funds available for himself, leaving Olint investors penniless.
It is a know fact that people like PB was pulling down thousands of US$ per mth for “facilitator fees” to setup DS in TCI.
Who is going to make sure that people like him pay back defrauded Olint Investors.
Olinters, who were the signatories of your monthly interest checks, follow that, you may find it could lead to the proverbial ” pot of gold “.
The liquidator has been at work now for one week and at the rate these guys work, they could have racked up charges already of close to US$500k.
MoneyMasters, of which Claudette Crooks is president, to host investment and economic forum
http://www.jamaica-gleaner.com/gleaner/20090622/business/business1.html
@Tafari… We keep telling you that you need to read the blogs from the beginning.
We will point out (again) that 7,8,9,10% per month consistently was NOT the only issue with these scams….
Although that was, is and will be issue there other red flags about OLINT and the other scams that people chose to ignore
The red flags
1. Anti-regulation. When a financial institution/club fights regulations and runs offshore, time for you to run before they do..
2. No audited reports from a reputable firm. At least Stanford and Madoff tried a thing…
3. No transparency. Club members had no access to the accounts. Absolutely nothing. How much was DS,WS paid? What was the expenses of the club/business?
To this day the only trading records we know of the is lousy ones the NFA point to at I Trade FX
4. Secretive and add to that it all the feeling of a classic affinity fraud… ( you watched the affinity videos..)
Then add to that the ridiculous returns.. and you have a clear set of red flags saying stay away!!!!
Read the rest here….
http://investforlife.wordpress.com/2008/08/13/striking-similarities/
There are two sides of madness going around. The Olint side and your side Nocotec.
Why are you so passionate?
Let me say again. I personally, new to the forex “market”, managed for five months to have returns of 8% per month. If I can do it, it can be done?
Did david Smith do it? NO.
Did he try? NO.
We all get that Nocotec. But your passionate assertion that because Nocotec said so, it is impossible is, quite frankly B*^^$#!t.
My brother-in-law trades as well, In over three years, he has only had four months where he had losses. And those losses were minimal. He has made a very good life for him and his family in Costa Rica.
So, again I ask, if you did not drink the coolaid, that’s great. But do you really invest this much time, even creating a blog, just because you care about the fools who fell for the Olint lies? Really?
Holy thou art.
We all have our motives. I have mine and you have yours.
Nocotec tell me ( i need to read the blog)….why is it that David Smith was not arrested and charged in Jamaica after the big raid? My guess would be that the raiders found the exact same thing that the TCI police found.
I know you have contacts within the two major political parties….well, if you don’t have the answer now, you could just call and ask, right?
The coolaid is dirty.
Follow the money folks.
I think that this post is worthy of a second posting. I love it:
nocotec, on June 21st, 2009 at 6:37 pm Said:
@Tafari: Have you invested in Olint? Why do you blog? Just out of concern for the masses (of stupid Olint investors) I suppose. Right? Oh, stupid question again….
Had you been around long enough you would heard me give the answer to your question on several occasions. Investors consistently believe that only investors who were dumb enough to get scammed are worth listening to… Kind of explains why they got scammed, right? Blind leading the blind…
I blogged not to convince those who had already invested… one quickly found out they were smart and you were dumb… they had found the best thing since slice bread and you were just bad minded and grudeful. I blogged to provide info to those who were seeking information before making a decision to invest. Those that invested had no need for independent info, they knew it all.
Let he who has eyes see, and he who has ears hear.
I am so glad that there is a Nocotec in the world to save the masses from the likes of david Smith.
I digress:
I hear that David is trying to cut a deal with the TCI police.
But since most of the defrauded are in Jamaica, it is just wonderful that it appears there will be no charges brought in Jamaica.
The people pulling the strings and protecting DS in Jamaica are personal friends of members of this blog.
What a tangled web we weave.
Clever guys. Very clever.
Is the word spelt G I N A L? Help anyone?
Tafari,
You are one of the few intelligent men I see posting on this blog.
The likes of Nocotec are the reason why to date we cannot get resolution to the OLINT scandal.
He and his cronies who control this blog have used this medium to tear down the efforts of others instead of posting factual information that can help.
The fact is, many people including myself invested in OLINT. Does that make me a fool ? In Nocotec’s eyes and his cronies yes.
So why then did he not have the b–ls to stand up and voice this publicly? I never heard him or his friends on the radio warning people that this is a ponzi scheme.
Afterall, being an intellect and financial genius comes with a price. He has a civic duty to help those “poor OLINT investor fools” and encourage them not to invest in the UFO’s.
Enough of them are their nonsense!!!
Tafari, we need to focus on the main players who have and continue to help David Smith and his family.
What I have found out is that DC with his PR machine is a major player. He would know a lot about the OLINT ponzi machine. If we sued OLINT could we include him? What are your thoughts?
I do not have much funds to spend on legal fees so I have to make sure to spend my money where it will make the most impact.
I have more questions.
Wouldn’t it be more worth the effort to concentrate on finding money? Or is it better to point the finger at polititians, call investors greedy and stupid while trying to steer readers away from our past and our friends?
And why do we get so angry when people try to even merely suggest that just maybe David Smith has some money stashed somewhere?
And why do we bother so much, if someone proves that it is possible to earn 8% in forex trading?
And why would we disassociate ourselves from David Smith now after spending years in his pocket?
And why oh why is our truth the only truth…..? Motives.
@Tafari:
It is not because Nocotec said so. You saying it can be done means nothing. What you need to do is give us actual examples of people or companies that have generated independent audited returns of 210 % per year and above… And then sustained this consistently over multiple years.
I should maybe start posting documents here. After all, they may be of no use in the TCI courts since the TCI FCI indicated that these crimes were perpetrated outside of their jurisdiction.
I will say this though..there has been a comingling of funds. I have seen deposits from at least 10 feeder clubs owner’s names on the Hallmark list – and these guys contracts say “”olint Corp”.
David Smith, Nocotec, floridian….all cut from the same cloth.
@Tafari:
Interestingly the PNP was in power at the time of the FSC raid, not the JLP. So I guess the fact that DS was not arrested means that powerful elements in the PNP were conspiring with DS too.
By the way do you realize there were many UFO’s operating illegal ponzi schemes… not to mention the miniature feeder clubs and persons also operating as ponzis within the Olint ponzi. None of them have been arrested either. So far the only person arrested in JA has been CH.
In JA there has been no attempt to go after investors that made a ‘profit’, so called clawback. There has been no precendent in JA for this and so this will be the first. There is ample precedence around the world for a liquidator in these schemes to go after such folks.
Going after people who were paid or received fees from Olint is another matter. One needs to prove they engaged in a conspiracy with DS or knew they were receiving the proceeds of a crime. Otherwise this is what you are up against…
Say you sold DS a car and it is now worth less than he paid you… the liquidator can seize the car. But should you be forced to return the money from the sale? Should his barber that gave him a haircut be forced to return the funds?
What should be clear is that folks who received money as non-investor fees for services, goods etc. cannot be simply required to pay it back. What about the casinos, they apparently got a lot of your money too? And what about the company he got the Lear Jet from? And the fuel for the jet?
There must be proof of conspiracy or active knowledge that the funds were proceeds of a crime, akin to receipt of stolen property. If there is such proof then these folks should be charged and or face lawsuits for the return of the funds. So far we have seen or heard of little such proof but unsubstantiated accusations have been plenty.
Tafari,
I think you need to stop and think just a little.
Now lets suppose that you are indeed one the worlds greatest traders and fall into the elite group that can average 8% per mth ie that 5% of the world of top traders.
Now just say you are in fact earning 8% per month you figured out that you would like to expand and make this a business venture.
So you rent office space, buy computers, get additional staff, have accountants, financial controllers, pay auditor, pay taxes, etc etc etc.
How much do you think you could realistically pay your investors.?
So Tafari, if you still believe that DS could in fact make returns and pay out 10% per month, you are ripe for another FX Trading Scam.
It is the same logic you used when you got scammed and you are once again going down the same path.
@ Nocotec,
It is apparent that certian persons knew DS was running a scam and the seem to have profited generously.
They can deny as much as they want but as far as I am concerned they are partners in crime, and lived ” high of the hog”.
Just before the entire fiasco blew wide opened they cashed ( and I mean really cashed) out and fled.
They even attempted to setup their own “hedge fund” in the Cayman Island which would be in the business of trading forex.
As you said however its unlikely that these persons will ever be made to pay over the proceeds of the ponzi.
In Jamaica crimes pays.
BTW did you see the cartoon in yesterdays observer. It showed Carlos Hill looking in a book shop and seeing a book entitled ” How not to get caught” written by Bro Anancy.
http://www.jamaicaobserver.com/tools/cartoons.asp
Jay:
There are traders that any any given time earn 8 % and above for a given month. They just cannot sustain it over long periods. In other words, in any period encompassing more than a month to several months or years… there will be a different set of traders making those returns.
With Tafari’s illogical ‘logic’, this is what he is arguing… Every week someone wins the lottery and generates huge returns on his small investment in a lottery ticket… His argument then says it is possible to generate such returns… He does not realize it is a different person winning the lottery each week.
Making 10 % per month for short periods is possible, sustaining them is not. This is why he will not be able to find anyone generating returns of 210 % per year and over multiple years.
Jay:
I saw the cartoon, it was funny. I have always thought the reason CH did not flee the island like many of the others is because with his US conviction gaining residency in other countries was nigh impossible.
Committing a financial crime in JA from another jurisdiction or fleeing to another country is a pretty sure way to ensure you will not be charged in JA. If investors are lucky the other jurisdiction may charge him but many will not unless it affects residents in that country.
Jay:
I agree with you that a number of people got money from the scam, i.e. cashed out before the crash and got lots of money. Some of them likely were part of a conspiracy with him. It is also possible that they may not have been part of the conspiracy but have had inside information that a crash was imminent and told to come get your money…
Or look at Madoff, right before he confessed he had written out checks to close friends and family members who do not appear to have been part of any conspiracy with him. Sometimes these guys will take care of close friends who may not have been in the conspiracy. This is among the reasons why clawback needs to be implemented.
It is very clear that those who made ‘profit’s as investors should give it back. However those that got funds, not as investors, need different more difficult proof to force payback.
Black’s Law Dictionary defines BRIBERY as the offering, giving, receiving, or soliciting of any item of value to influence the actions of an official or other person in discharge of a public or legal duty. The bribe is the gift bestowed to influence the recipient’s conduct. It may be any money, good, right in action, property, preferment, privilege, emolument, object of value, advantage, or merely a promise or undertaking to induce or influence the action, vote, or influence of a person in an official or public capacity.
ap·pa·rat·chik
noun
Etymology:
Russian, from apparat
1 : a blindly devoted official, follower, or member of an organization (as a corporation or political party)
Tafari and other who are still bent on becoming rich, and hey thats not a bad thing at all.
The problem starts when we try to get rich too quickly ie trying to get rich by joining get rich schemes paying astronomical interest rate which you think will make you a billionaire in 5 yrs or less
Thats a sure fire way to lose money and leave you in a much poorer position than you started out at.
I am therefore going to make a couple of suggestions on a couple of books that you should read.
Two or these books are really very old books which have been reprinted and new materials added , but both have withstand the test of time.
1. Security Analysis by Benjamin Graham & David Dodd. First edition printed in 1934. You can get the updated 6th edition for around US$50.
2. The intelligent Investors by Benjamin Graham (prefaced by Warren Buffett) cost around $15.00.
3. The Muai Millionaires by David M. Finkel. $15.00
4. Living the 80/20 way by Richard Koch cost around $15.00
For under US$100 you will have in your hands books that if you follow the principles set out will make you a millionaire and allow you to be financially free.
The 80/20 rule in particular compliments the two books by Benjamin Graham, as it really promotes the concept of spending more of your time and resources where the returns are likely to be greater.
The Maui millionaire explores the concept of the true meaning of wealth, what it is and how it should be used, nice book.
The intelligent investors looks at the concept of paying less for an asset than its truly worth, thus limiting your downside ie reduces significantly the risk should you decision turn out to be a “bad one”.
If you have some more money to invest consider also ” Rich dad poor dad” for $5.00 ( That would mean you have spent exactly $100).
For just $100 you would have armed yourself with the teachings of some of the best, in particular the first two, which will allow you if you are disciplined to reap rich rewards in the future.
I am sure Nocotec can provide you a couple more books that you could add to your library as he is an avid reader.
Oh by the way shutoff CNBC and that loud mouth – yes Jim Cramer who believes he is the greatest investors and who believes Warren Buffett principles are dead.Think again !
The current economic “recession” is something I am sure Buffett though he has lost money, as he cherishes the idea of find value amongst the shipped wrecked companies that now exist on wall street.
Lisa says
Tafari,
” You are one of the few intelligent men I see posting on this blog.
The likes of Nocotec are the reason why to date we cannot get resolution to the OLINT scandal.
He and his cronies who control this blog have used this medium to tear down the efforts of others instead of posting factual information that can help.”
@ Lisa
Now what does Nocotec etal has to do with the resolution of the Olint scandal.
What resolution are you speaking about ?
When the liquidator is done, you will be lucky to get 10cents on the dollar.
Lisa, Nocotec has for over a year, plus Jason have been the strongest critic of Olint.
What about MLC, the FSC, Bill Clarke, Wayne Chen. These were all persons on the national radio and television warning persons about the folly of investing in these illegal entities.
What did the likes of you did, you cursed MLC, you advocated boycott of NCB and Super Plus.
A blog was even created to support such a blockage. The likes of you even went as far as to circulate emails to this effect.
So dont know come here to say the “likes of Nocotec and blog operators” are a stumbling block in your way, as its just not true.
You want the facts long after the horse has bolted with your cash.
Well the fact is the money is gone, over 80% of it, and the liquidator will take the rest.
Keep up the good work Tafari. Don’t listen to others whose only job is “I told you so”. Taking up so much space. I scroll through so much clutter. So i do a search. If i have read one of their post all the others are the same thing. It is almost becoming counter productive. The same thing just repeating and repeating, nothing new. I really don’t get it. Can someone type the same thing but hand it to you with minior modifications so many times.
@ Ad.
Its just like the FSC warning you guys over and over again.
Many said ” Mi nuh want hear nuttin from uno, uno a gee people a fight.”
” Wi can tek care a wiself, wi nuh need d FSC fi look out fi wi. Wi nuh invest nuh more dan wi can afford to lose”.
Who has given more suggestion as what to do now that the money is gone?
Its was Nocotec among other who were first to suggest the filing of lawsuits before the thieves were able to make off the most of the loot.
You did not listen, instead waiting until it was patently clear that you all had be hoodwinked, to now asking for the facts.
I suggest you go back and read the blog rather than reading selectively, that was what go you in trouble in the first place.
Don’t make the same mistake twice.
Do you guys read your own posts? Maybe as you said it is just me.
I do read posts, but do you like reading the same thing over and over and over. I have no problem with someone saying “I told you so”. But to say “So i told you” is like you saying the same thing but just swithing up the words. Yes you guys have helped. But to repeat the same thing 100 times in different ways is a waste of time. Please bear in mind not everyone has time like you guys on your hands. So i read your first posts then skip the rest. So as you said, maybe it is indeed me.
Ad,
A couple of lessons I learned growing up.
1. Learn from your mistakes.
2. You learn and become and expert by repetion. As a part of the learning process in 2 you must remember lesson #1.
ie dont become an expert at making mistakes.
A smart man learn from his mistakes
A wise man learns from other people mistakes
I try to be both Jay
A milestone achieved !!
Investorforlife has now recorded over 1,000,000 hits.
Thanks to all those folks who have been a part of this milestone.
Thank you !
Congrats Jay. Well done.
@ Ad,
We both agree on something.
@Lisa
Lisa Said: “The likes of Nocotec are the reason why to date we cannot get resolution to the OLINT scandal.”
You know I was not going to respond but I had changed my mind. Don’t come here and talk nonsense about Nocotec,Jason , Jay, MikeD, DaveSin, Robin Irie as being the reasons why you can get a resolution to the OLINT matter. I would laugh but I am sad to hear such nonsense.
OLINT TCI WAS A PONZI PLUS. Do you get that?
The FSC, Bill Clarke, Mike Chin, Wayne Chen, Peter Bunting told you that OLINT was a scam and you did not listen, We told you and you did not listen. We all can’t make it unto the Radio or Television.
You were simply blinded by the returns!
Lisa said “The fact is, many people including myself invested in OLINT. Does that make me a fool ?”
Investing in OLINT does not make you a fool BUT you were foolish to invest in OLINT simple as that.
The question Lisa you should ask yourself is why did some people realised it was a SCAM and you did not?
Lisa said ” If we sued OLINT could we include him? What are your thoughts?”
I am not a lawyer but suing OLINT TCI is a waste of time right now in my opinion as it is in Court appointed liquidation(compulsory). That means OLINT TCI in away no longer exist and you suit would sort of be against the Court.
1. You will be better off trying to sue the Principals, CEO, directors, and the ‘facilitors’ that provided support services to the scam.
2. Companies that provided ‘brokerage’ and ‘trading’ services and there principals could also be potential targets. e.g. I Trade FX and their principals
3. If you invested via a pig, or feeder club a) File a lawsuit and or b) File to have the pig, or feeder club placed in recivership.
In addition provide information to the liquiidator on all the early ‘investors’.
By early ‘investors’ we mean those before say February/March 2007. As if they were collecting redemptions monthly or otherwise by December 2007 they would have collected their princpal plus EXCESS.
That EXCESS is your money. That is were some of your money is.
Honestly 10-20 cents on the dollar. Talk to Lawyer and get some advice
Jay:
I do not believe that David Smith was making 10%. The guy was not even trading.
That is not my assertion and lets not make it about that. You guys are just so sensitive about anyone saying anything slightly contradicting your cover story that you get nervous.
For the last time, I do not, and I really don’t think there is anyone at this late stage who thinks that David Smith and his clan were anything but a bunch of thieves.
The questions I ask are not answered. Yet you, Nocotec and floridian seem to very cleverly change my words and make something else the issue.
Go back and read everything I ever wrote on these blogs and NOWHERE will you find any statement made by me that could be even mistaken for belief in David Smith.
Why does anyone with the ability to think independently scare you guys so much?
I say it is possible to make 8% monthly. I do not believe that this can be done consistently for 5 years (except with a crystal ball). But I have done it. Today I made 37 pips. Small money but gains nevertheless.
So why are you so sure that everyone who invested in Olint was so stupid? Except you have an ulterior motive.
Like I said before, I blog under the name given to me by my mother. I can be found at anytime. I blog with the hope to gain new info to find my money.
You blog because you love mankind…just trying to save people from losing their money. Yet, you call the ones who did fools, and greedy and crazzy.
I have not yet gotton onto you Jay but I know that Nocotec has friends in high places. I know that floridian was very close to David Smith. I even passed on a suggestion from the investigator that it seems like there was something very personal between sirach and DS sometime ago.
There is smoke around this blog. There is more to be discovered. I love this forum. Great for keeping hope alive. But you guys are up to something….
Protecting friends? Political influence? Your own reputation? Lets be “brutally honest”.
Congrats on the hits Jay.
Maybe one day you can catch up with http://www.olintja.com.
Jay, on June 22nd, 2009 at 8:10 am Said:
Tafari,
I think you need to stop and think just a little.
Now lets suppose that you are indeed one the worlds greatest traders and fall into the elite group that can average 8% per mth ie that 5% of the world of top traders.
///////////////////////////
One does not have to be a great trrader to earn 5%. Should I explain how it’s done? One of the three of you has made a claim to have traded. How much did/do you make?
That is really not the issue here anyway. The issue is your motive.
@ Tafarfi
Ok lets agree to disagree on the 8,9 or even 10% pm on forex trading.
You are really wasting whatever money you have left trying to find out who Nocotec, Jay , Johndoe etal are, of what value is that as it relates to Olint.
It seems that you have this thing backwards, as if you had spent just a 1% of the time you are now spending doing research, you would have had your principal “locked” and safe.
As Johndoe said, go get to the feeder clubs, PB , JI and other, as money went that way, significant portions I may add.
Looks like Madoff’s facilitators and are all being carted off to jail. DS had several “facilitators” as well. Not to mention them facilitating meetings with high ranking politicians throughout the Caribean and Central America as well as wealthy international investors. I wonder what fate they have in store?
We will know who has been swimming naked when the tide goes out……
@Tafari:
Seriously dude your accusations against me, Jay, the blog and Floridian/Sirach completely destroys your credibility. Have you truly looked at the blogs. How is it possible that investors can first relentlessly accuse me, Jay, Jason, JohnDoe, DaveSin, et.al. of being against DS and Olint… being just bad minded and grudgeful and fighting Olint ad nauseum…
And do you realize that Floridian/Sirach likely has a lot to do with some of the most enlightening revelations to date?
And yet and you and the latest crop of investors relatively new to the blogs are now accusing us of profiting from Olint and being in league with DS and others to rip of investors. Does this not strike you as hilarious?
So before the official crash we were just bad minded and grugeful, fighting DS and not wanting him succeed and help small man. And now after the crash we were in league with him… LOL
If your accusations, along with others of like mind, against me and Jay et.al. can be so far of and illogical, how can anyone take your other accusations at face value.
What you do not know Jay, Is that I spend a minute here while watching my screen for movement. So worry not about me….I have nothing to hide. What are you guys so worried about? Why are you so ready to pounce on anyone who thinks differently?
Was up wid dat?
Ad:
There is another way to look at it. If you admit to seeing information repeated so often, how come you still got hoodwinked. What is going on with you? Generally only kids ignore repeated warnings and still do the wrong thing.
@ Tafari said
One of the three of you has made a claim to have traded. How much did/do you make? ///////////
Five percent totak over a 6 months period trading three days per week.
The fact is money can be made trading forex, however most are likely to lose in the long run, Its just not viable option for many.
You aint seen nothing yet. Get ready.
@AD excellent points worth repeating…
A smart man learn from his mistakes
A wise man learns from other people mistakes
@Jay 1,000,000 hits.
Milestone indeed, To the team, thank you all. To the readers, thank you all.
@ Cricket Pal
Glad you have recognized the con for what it was.
Doing something foolish is different from being a fool. The Doctor is a bright man but he was downright foolish to have invested in OLINT.
Nocotec, Jay, etc.
I think MOST people have read ALL the convincing arguments posted about why Olint was a scam, WHY it was a mistake to invest, and the warning signs to look out for should the stumble across something similar in the future.
Like everything in life, you will have people that read, absorb, and take away the intended lesson, and then you will have people that read, absorb and then simply return to their previous way of thinking. There is NOTHIGN that you guys are posting now that is different from what was posted last december, last september, last august etc. Basically its the same.
So I think at THIS point arguing with Tafari, Lisa whoever about how you were one of the original defenders of logic and against Mr. Smith is really counterproductive and a waste of your time (though it may be VERY entertaining i suspect).
Wouldn’t the time and energy for you guys be better spent writing and finding similar cases, articles, examples, stories etc from all around the world? (for example that short documentary on affinity crimes).
If as Tafari said you guys are in ‘bed’ with Mr. Smith, then the logic of starting this blog BEFORE his scheme crashed is BEYOND me… If it’s true, then just like with all the other associates, hopefully with the help of the Dr., supposedly Sirach/floridian, and others putting in COUNTLESS hours of work, money, and effort one day you guys will be brought to justice
But for now, to ALL the people (Jay, Jason, Nocotec, MikeD, Sirach, Floridian, Johndoe, and all the others) that have taken a TON of abuse on these blogs while trying to do nothing but make sure that logic, truth, and eventually we hope justice is served, keep up the good work.
[if you guys are really in bed with Mr. Smith, I sure as hell wouldn't feel a fool for being tricked, because your plan is SO genius that it appears ILLOGICAL]
Mistakes can be corrected. I’m sure we can all agree on that.
I think the Doctor intends to correct 2 major mistakes. His ‘mistake’ and David Smith’s mistake.
Someone who corrects mistakes is to be praised.
Not only can you correct your own mistakes in life you can correct the mistakes of others also.
I hope this can close the argument.
“Once I thought I was wrong, but I was mistaken.”
@ Cynic
” Wouldn’t the time and energy for you guys be better spent writing and finding similar cases, articles, examples, stories etc from all around the world? (for example that short documentary on affinity crimes). ”
Cynic this has been done, I think we have spent time in particular, Nocotec and JohnDoe writing and posting articles about cases that have been brought to trail in the past and the outcome from the various judge.
The fact is, you need to act and act fast, not adopt a wait and see attitude, which has allowed many HYIP operators to leave the country.
Carlos Hill had no way to go, which is the only reason he got caught.
The fact that the Government of Jamaica has brought no charges against any of the HYIP’s makes the outcome for investors in Jamaica not very favourable.
@theCynic
You make some good points. One of the things with blogs and the like is that new people are always discovering the blogs and posing the same questions over and over. One can either ignore them or respond.
WordPress does not have the feature of Forum type software where you can place ‘Stickies’ — answers which always show up or stick at the top of discussions. This is why help style or tech forums have that feature. It saves the veterans from having to repeat the same answers a thousand times for every newbie that shows up.
Think about it, if we simply ignored every newbie that showed up repeating the same thing there would be a different complaint
It seems and is repetitive to veterans but remember it was new to each veteran aat one time too. Note that the discussions are with new people not with the same ones.
In any case a ‘Sticky’ type feature would be nice, newbies could then just be referred to it and veterans would not have to read it again each time.
Excellent point Nocotec…. have you ever thought of starting a forum??
Jay,
NOTHING you say is going to make those people that have NOT already taken action, NOW take action. I tell you, there are still people who DEFEND Mr. Smith and say “If he was doing something wrong, why haven’t they locked him up?” “If he was running a ponzi why have they only charged him with those small counts of fraud, look how quick they charged madoff and stanford…” “Let’s wait and see till the case runs through to see if he is really guilty” etc. So I STRONGLY doubt that any argument you present on this blog will convince anyone else to take action.
Aside from those arguments, for the people that DO believe that Mr. Smith and company are guilty..the lack of Faith in the Jamaican justice system is what prevents these people (in my opinion) from taking action. Why invest all the time and resources in trying to get Mr. smith in COURT much less convicted when, as we’ve heard before, “he has it LOCKED”? The fact of the matter is, faith that justice in ANY form will be served in Jamaica is lacking, and as such prevents many from taking any action.
I’m GLAD that this has not stopped the doctor and a few others from doing everything in their power, and if there were anyway to lend a hand to his cause I and I’m sure MANY others on this blog would GLADLY do it. Whether he’s doing it just to get back his money (which is fine by me), or b/c he just wants to see justice served, really doesn’t matter to me. The fact of the matter is, he and others LIKE HIM, are doing something other than sitting on their/our asses.
As a side thought, maybe the work being done by Bushmaster and team will spur a few more to action, or at the very least show JUST how rotten to the core our system really is.
the cynic….read brother. I said that floridian, sirach was a pal of david smith. Nocotec has pals in politics…..
Read pal, read.
@theCynic
I am not sure it would make sense to start another UFO specific forum/blog this late in the cycle. The UFOs thing has mostly run it course. WordPress does have its advantages. It is free and we cannot be accused of profiting off of investors as none of us make any money from this.
I think most forum software would require a domain and there is some expense associated with that,
It is great that some folks still have the resources to fie lawsuits and go after these crooks. Unfortunately the JA criminal justice system does not have a great track record of solving crime. And so the private citizen has to take over the responsibility of the government. Look at any metric on crime measurement in JA and it is atrocious.
Anything you do in JA requires you keep that in mind. This is why you have to have burglar bars and locked gates on your premises. Security guards at your business and on and on… Precautions to make sure you are not being followed…Why do we do this? Because we know if we are victims of crime we can expect very little help from the government. More well off people hire private security firms.
I had a relative that had a home invasion burglary late one night and called the cops… It was actually funny after the fact… She had a private security firm but in her panic forgot she had the alarm to call them… The cops came hours later (early morning) asked her if the man dem gone and then left… That was the sum total of the investigation..
In the mean time she remembered the private security and called them and they came 5 minutes later and gave the place a thorough check to make sure the criminals were gone.
My point is the same is applicable to financial crimes. Do not expect good help from JA law enforcement and it does not matter who you think paid off which minister. Stop and think and realize that is not just DS, it is a bunch of others that have not been charged. Do you think they bought off ministers too.
Just like how you put up burglar bars because if you know if thief come in you can expect little help from police… You have to be ultra careful before you invest in JA because you can cry all you want…. You going to get little help and remedy from JA police.
@the cynic…
Good points… and thanks for the feedback and keep posting.
Nocotec & Jay responses pretty much said what I wanted to say.
What I will add is that is as time allows we will post some additional articles..
@Nocotec…
Did you look at this article..
http://investforlife.wordpress.com/2009/06/20/top-antiguan-regulator-indicted-in-stanford-saga/
1. Could some of this have been going on in the TCI?
2. Notice where WorldWise and UWIN were registered?
Same way Smithy barracade in Chaulk Sound. true talk Nocotec. More than one locksmith in the place. Smithy never realised that though.
Well i always say here. never too late to learn.
@JohnDoe
I saw the article. I have always wondered how can someone get registered in a jurisdiction when they are fleeing from another jurisdiction. I am very familiar with several type of professional licenses, in fact I just completed one earlier today.
In almost every one I have seen you are always asked if your license has been suspended or revoked elsewhere or have you been convicted or have a pending case elsewhere. This will usually be sufficient to deny a license except in a few cases where the fee is waived.
Very curious indeed but because I am not familiar with the specifics of TCI license requirements it is hard to comment beyond that.
…This will usually be sufficient to deny a license except in a few cases where the fee is waived.
should be…
This will usually be sufficient to deny a license except in a few cases where the explanation provides sufficient reason to waive the requirement.
nocotec – your comment about burglary and crime prevention in Jamaica is quite accurate. But isn’t it a bit rich when talking about Jamaica, Turks and Caicos and Olint. Isn’t it the same Jamaican authorities that ran Olint out of the country?
Nocotec
TCI license requirements aka backhander $$$$$$$
Jamaican ‘protection’ $$$$$$$$$
@Bob
The FSC is to be commended for their attempts. However it never went far enough. I thin partially because the FSC is relatively new and the their rules and regulations unlike in the USA and elsewhere have not been tested in the courts. This allowed DS to litigate matters that have not been settled.
But do note that the FSC was only doing civil litigation and not criminal. My post was more aimed at criminal. See my next post with the FSC bringing fraud charges in the Madoff case.
The JLP as recently as the last Budget Debate has rejected the Omar Davies model of debt expansion and has instead put forward a model that is based on using creative debt reduction strategies while putting in place aggressive investment promotion strategies to put idle Jamaicans to work, increase productivity levels, and give every Jamaican a chance to create his/her own wealth in Jamaica.
I am, etc.,
AUDLEY SHAW, MP
Opposition Spokesman on Finance
and the Public Service
fitzalbert_2@yahoo.com
Christiana,
http://www.jamaica-gleaner.com/gleaner/20060530/letters/letters1.html
Interesting case by the SEC. Note many of the similarities to Olint.
They were crucial to the success of Madoff’s $50 billion fraud scheme, targeting affluent yet financially unsophisticated investors by burnishing the impression that one could only be accepted as an investor with Madoff with special access and as a favor, the regulators said.
Cohmad and Chais were said to have gained nearly all their revenue from introducing investors to Madoff in a well-oiled marketing operation.”
SEC charges Madoff-linked firm, adviser with fraud
SEC charges New York firm, California adviser with fraud for Madoff scheme
http://finance.yahoo.com/news/SEC-charges-Madofflinked-firm-apf-1964646361.html?x=0&sec=topStories&pos=4&asset=&ccode=
The organised working class in the trade unions and the healthy parts of the middle class withdrew into private life. The uptown and downtown lumpen – wholly dependent on political handouts and bent on upward social mobility at all costs – stepped to the forefront. These two groups saw and still see control of the State as the key to their economic and social future.
Golding – a one man band – continues, in his public forums, to try to educate the Jamaican people about the really tough choices we face, not the least of which is the coming trial with the International Monetary Fund.
How will it ensure that the lumpen are subordinated to the organised working and middle classes in its ranks? What will it do to address the corruption issues?
http://jamaica-gleaner.com/gleaner/20090621/cleisure/cleisure2.html
Dear All Bloggers,
Personally this forum has been an immense weath of information that has also been thought provoking. While we have bonded around the Olint situation, this debacle has also forced all of us in some way form or fashion to think about the construct of JA society as a whole…and we have had to face some ulgy truths…while I dont agree with everyone’s posts we can agree to disagree without being disagreeable..I hope Tafari knows that this blog has been around for quite some time and while the discussion gets lively it is never denigrating…thank you guys for keeping it that way
Interested
Any specific examples of an ugly truth or two?
Floridian,
Ugly Truth #1 -
The “informer culture” has become so entrenched in the Jamaican psyche that it has become a shackle and a disgusting web that we are all trapped in…and while I admire those that still fight, I am starting to feel that fighting for justice is like f*#%$ing for virginity….
Ugly Truth #2 –
Jamaican black people are their own worst enemy and yeah I am talking even the so-called brown one dem because you know what even when them little toe lik Florida they are still BLACK….We do not need others to enslave us….we do it OH SO WELL to ourselves….disgusting
@interested…
“we can agree to disagree without being disagreeable “… “some time and while the discussion gets lively it is never denigrating…”
Thanks for the feedback and ladies and gentlemen let us keep it that way.
What has Jamaica learnt about ‘church’ and the demonstrably self righteous?
moving ja forward? or holding ja backward?
I am going off the edge in posting this but I am just wondering….
Could NCB be the subject of legal action in relations to OLINT?
Interestingly, this is the Irony. Could NCB be now be sued for failing to protect its customers and facilitating the operation of a scam?
@Nocotec, Jay, theCynic
Maybe we can start a myth-busters category? Put all the frequently ask myths there and our responses?
I LOVE this idea…..
1. Olint Paid back investors during the “run”
2. Mr. Smith traded forex at JMMB
3. The Olint foundation did much for Jamaica
4. iTrade FX yielded MANY successful traders
and on and on and on…
Does anyone know of any lawsuits in Jamaica against Olint or any feeder clubs?
With a law suit against the former leader of the TCI can we expect similar type actions against the Jamaican Government?
Aside from talk and so called ‘I told you so’ the actions show they invested and accepted donations from Smith. is there a stronger endorsement of David Smith?
Here is one for the myth-busters:
2 people on this blog have suggested that Don Creary has been arrested….is this true or false?????
I do not know if he was arrested.I know the FBI agents at the Stanford press conference asked somebody about his whereabouts.That means he is being investigated or there could be a sealed indictment. I know that Homeland Security is looking for him to enter the United States for a Federal Hold. I am not sure why.
As per request by Cynic.
Madoff victims aren’t GM
Now, a lawsuit alleges that Jeffry and Barbara Picower should have known that their “implausibly high” returns of as much as 950 percent a year were phony. The suit by the court-appointed trustee claims that the Picowers pocketed $5 billion that wasn’t theirs.
http://www.palmbeachpost.com/opinion/content/opinion/epaper/2009/06/21/a20a_madoff_edit_0621.html
Picking apart the lure of the Ponzi scam
“Take the malleable clay of human nature, add greed, deceit and manipulation, and you have the basic ingredients for a Ponzi scheme or financial fraud.”
http://www.thetimes.co.za/PrintEdition/Article.aspx?id=1020677
Looking back
…has definitely not been my desire but due to the money laundering allegations in the Turks and Cacios Islands directed at me, Olint TCI and TCI FXTraders it has been impossible for me to communicate with you…
Whilst Olint represented investors from the Jamaican and regional middle classes, Mr. Smith had a company, CASH PLUS which fell to ruins that saw many working class and poor Jamaicans lose their investments.
http://www.tcfreepress.com/index.php?option=com_content&view=article&id=296:david-smith-arrested-posts-1-million-dollar-bail&catid=13:featured-news&Itemid=69
The Commissioner has the warrant for Creary. He can only hold it secret forever.
By the way Tafari…
To set your mind at ease about the bloggers like myself, JohnDoe, Jay, DaveSin et.al.
Long time Olint investor bloggers like RedP would have secretly found your accusations against us very funny. Before Olint officially crashed many investors on this blog and the #4 blog continuously said we were been paid by Lee Chin and or NCB and or the bankers association among others to destroy DS and Olint.
The usual reasons were given … bad minded, grudgeful… don’t want small man to become rich… DS and Olint is a threat to the banks as people taking out their money… and so on…