Before July 27, 2007 not many knew of Bassilios Hado of Chez Maria. Chez Maria is a restuarant situated in Kingston Jamaica offering Mediterranean cuisine. All that changed when the his name appeared in a controversial AD placed in the Sunday Gleaner by Market Traders Institute(MTI). Bassilios Hado was gracious enough to visit this blog and posted a few comments and responded to few questions posed to him. We share some of his responses below.
What caused you to have, quote,”never believed in what he(David Smith/OLINT) was offering”? What were the danger signs you saw?
After practicing and learning the forex, I found out that in reality that there is nothing name 10% monthly, people lose some months, the best money management organization or companies in the world are able to make 30-36% a year this tells us everything, most people doesn’t know that we need to clarify this and open a thread to educate people about what is the Forex and the danger.
This thing that happened in Jamaica happened already in other countries, people has to remember that in our days most of has access to the internet, spend couple minutes and check out about anything you want to invest in or do and there you go you have all the positives and negatives and then you can decide. The danger signs are what is happening with Olint and what happened to others, all what I can think of or pray for is that the people of Jamaica that invested in DS get through with at least their capital!
Why did you not as some people say, “invest a thing” with him(David Smith/Olint)?
Honestly it was hard not to I was tempted, people around me told me all sort of things for the past 2 years, but what kept me out of it is the fact that it happened already in my country 15 years ago where members of my family suffered from it, up to now, and the second thing, I worked extremely hard for my money, I have 7 family members depending on my actions and soon a second baby on the way, I cannot afford a mistake like that, so I decided to educate myself more about forex.
About his testimony in the MTI AD
As I said in the MTI Ad. That I decided to educate myself and not give my money to strangers, I hope that people really understand that there is a big money to make in Forex but be careful it’s the most dangerous way to make money, whether you do it yourself or give you money to many managers.
A person commented about me and said that if I was a successful trader so why I can’t afford this and that. Some people think successful trader means Millions, I cannot blame them or stop them for thinking this way, and they are free. I am what I am and didn’t promote myself as the best trader neither MTI,
Current problems best for OLINT and OLINT investors
In my opinion this is the best thing that could happen to Olint and the investors, I wish it happened a year ago,
- less people would have suffered,
- once for all the people are going to know the real story hopefully,unless some deals out there make this thing disappear.
So we have to make sure keep on asking questions until the truth shows up and also to make sure that rich people don’t collect all the left over money because some other can’t afford lawyers!.DS come out and say all the truth people out there suffering and need to know you owe them that since they invested in you and trusted you.
Tell us more about your previous experience 15 years ago
Basically the same thing persons promised big returns, and the difference is that those persons disappeared with the money, not crashed but DISAPPEARED and all now no one knows where they are, people say that they are in Brazil who knows. My mother still up to now cries for the money that she lost every time she remembers.
Another thing was used to happen I hope that It wont happen in Jamaica, people was used to build 10 stories building for example and sell the apartments on the blue prints because it was cheaper, just before the building done, those persons disappeared and the worst part is that all apartments was not to 2 or 3 different persons and there was no plumbing or electrical installations, so be careful out there when you by on blue prints.
By the way I think you made an excellent decision not to “invest” with OLINT
Thank you, I am relaxed now from all the chatting and pressure from family and friends, they just realized how important was my advice, and I feel sad for all those that get caught in it.
On Protecting his brother, Ponzi Style
5 months ago I found out that my brother was planning to put all his savings that he worked hard for with DS against my decision, I had to convince him that I would put it in my friend name that has already an account with Olint. It took him some time to believe me because he knew how much I was against.
Bottom line I honestly nearly gave his money to my friend, but hurt shivered to moment I was ready to do so and decided to keep his money in my safe, without he knows, at that point DS wasn’t paying a penny. At one time he asked me draw for him his profits for 2 months, I paid him from his money, he was very happy, he thought he took the right decision. His happiness lived short when he heard all about Olint crashing or problems.
There were no words to explain his pain and tears, but I can assure you when I went to him with the balance and told him the story he was the happiest man on this earth, because only at that point he realized how much important was that money.
Value of this Blog
This is a very important thing that we have such places to comment and give our views, we are all hear to know the truth because people related to us are suffering and other soon start to suffer, so who ever knows something come out with it and stop speculate things.
Like Jay, we thank Bassilios Hado for providing full disclosure of himself, the information providing has been very informative. Hopefully we will now hear from other MTI students including Beenie.
For more you can read the exchanges in the comments section of MTI says – Scams,Schemes, Scandals!
Related:
Please note these the views expressed do not necessarily represent the views of investforlife.wordpress.com and are presented for information purposes only and in NO way expresses endorsement of MTI by investforlife.wordpress.com.
Filed under: UFOs | Tagged: David Smith, Forex, Market, Martinez, MTI, Olint, SCAM, Scheme | 100 Comments »
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Some still blindly believe
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.
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:
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).
Related
Filed under: Commentary | Tagged: David Smith, Jamaica, Jared Martinez, MTI, Olint, Scheme | 51 Comments »