In a letter to editor of the Jamaica Gleaner of August 8, 2008, an OLINT supporter, if not investor, pleads for support of the beleaguered “Investment” Club. The writer, after rambling a bit, takes aim at the law of the land and the regulators who seek to uphold it.
Up until the authorities started their campaign to wipe out his business, he consistently delivered on his promise.
Are people still blaming the FSC, NCB, BOJ, BNS, Peter Bunting and Omar Davis and others for OLINT demise? It should be noted that the Jamaican authorities have not frozen anything, yet. If people had listened to the FSC, the debacle and tragedy that OLINT has become would have been significantly contained.
He mentions the OLINT foundation but what has the foundation been doing lately? Please note this is same the foundation to which MTI’s Jared Martinez was more than happy to put his money in, as a part of public (relations) support for David Smith. I hope the letter writer took note of the MTI AD.( See under related:)
The road to hell is often paved with good intentions.
The blind belief and bankrupt thinking is further evident in the following line:
I respect and support him based on his history of honesty. It is vital that people like David Smith survive in business, because he has the good of the people at heart and has proven himself not to be one of the greedy investors.
Firstly, what and where is the evidence of this honesty? A long list of broken promises? David Smith might have started with good intentions, but even if he did, something went wrong, very wrong. The writer should listen again to the Nationwide interview with the ‘troubled’ Peter Bovell. Re-visit the stories of the Walker’s and the Observer’s Al Edwards asking OLINT, where is the Money?
No place for certain business
Based on OLINT’s example, it is vital that companies that are anti-regulation, anti-transparency and anti-disclosure not be in business at all. They are a danger to investors, consumers and themselves.
You can read the rest of the letter here, In support of Olint(Jamaica Gleaner).
- MTI AD says – Scams,Schemes, Scandals!
- Bovell: OLINT Refused to be transparent
- OLINT: Human Tragedy
- OLINT: Where is the Money?