TCI FX now Lewfam? (updated)

There is an interesting development in the Olint,Lewfam and TCI FX saga. A few days ago, a visit to tcifx.com would have lead to a page saying “Under Construction”, today a visit shows that TCI FX is now LewFam Investments. This is very interesting as the tcifx.com now points to the same address as lewfamclub.com.

LewFam and Olint have a history going back. They shared the same location, if not office space, at the time when the FSC raided the Olint  in March of 2006. We also know that TCI FX Limited was or still is a partnership involving David Smith and a John Wildish according to TCI FX prospectus. This indeed a interesting development.

Here is a little about TCI FX Traders, from a prospectus 

“The Fund TCI FX TRADERS LTD (“the Fund” or “the Company”) is an open ended investment company incorporated in the Turks and Caicos Islands on August 16th 2006 and subject to the laws of the TCI. It is established for the purpose of investing through OLINT TCI which is a FX Trading entity, with the object of obtaining constant above average absolute return through a disciplined investment approach. No person has been authorized to make any representation concerning the Fund which are inconsistentwith or in addition to those contained in the Prospectus and the Directors accept no responsibility for anyrepresentations so made. The Fund will only accept investments which have been applied for on the Fund Agreement Form accompanying this Prospectus.” 

The prospectus goes on to say 

 “This Prospectus is based on the law and practice currently in force in the Turks and Caicos Islands at the date hereof, and is subject to the laws because OLINT TCI operates under the jurisdiction of the Turks and Caicos Islands.”

For the period Jan – April 2008, TCI FX traders reported the following returns

  • Jan:  -00.96%
  • Feb: +0.00%
  • Mar: +01.87%
  • Apr: -16.26%
In contrast the reported returns for Olint/Olint TCI were as follows
  • Jan: +11.44%
  • Feb: +7.57%
  • Mar: +16.04% 
  • April + 5.39%* 

Update: Later on Friday May 30, 2008 we discovered that the domain name tcifx.com no longer points to lewfamclub.com. Please see related article.

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7 Responses

  1. no one is questioning these things. everyone just say DS is god and thats that.

  2. Reading all this stuff is hilarious. Especially the ramblings of CAREIF. Ha!!

  3. Lewfam advertises Pyramid Travel Service Scheme.

    Well what else can we expect, the entire things has now uin ravelled at the seams and the deck of cards is about to tumble down.

    http://www.lewfamclub.com/

    This is what an avid AIS investor from the “invest4life” site had to say.

    jcan Says:
    July 3, 2008 at 7:11 am
    PipUNIT # 298 Says: Maybe lewfam is making money with their new “tour company”

    Be careful of that tour….look in the corner for those small letters….This is known this side of the world as a Pyramid travel scheme !!!!!!! Yes To Bus…
    The way this goes, one buys a travel business for approx $500USD and operates as a travel service, sells ticket/cruise etc. then you keep recruiting others to buy this business. After recruiting say 6 persons to spend the 500USD plus a monthly fee of approx US50$ the person who recruited the 6 or 7 persons under him start getting paid and the person who recruited that person who recruited the 6or 7 is always paid from your recruitment etc, etc…It is a complex PYRAMID SCHEME with the poor fools at the bottom stuck with $50 monthly to maintained a ‘travel business…” with no ticket sales because their prize IS NOT BETTER THAN ANY other travel agency out there!

    So with Lefam advertising on the web with so many customers they will be one of those recruitiing a lot of customers to pay the $50….very surprised and disheartened to see this PYRAMID scheme being publized by Lefam!!!!!!!!!!!!!!!!!!!!

  4. Boy these Guys have a balls check out this latest statement :
    We are most grateful for your continued patience and understanding in this difficult time.

    We acknowledge and empathize with members who are facing financial difficulties. We want to let you know that we continue to work prayerfully and diligently to bring resolution and have been in constant touch with our trader. At this time he continues to wait the reconvening of the courts of Turks and Caicos Islands so that the resolution to his situation can be finalized.

    We will continue to share information as it becomes available.

    Our call centre is available via telephone and e-mail to answer any questions you may have. Please do not hesitate to contact us.

    Again we wish to thank you for your continued patience and especially your prayers.

    Management and staff

    866-274-3272

    758-457-8660

    customercare@lewfamclub.com

  5. What is the purpose of this statement? It offers nothing new to “investors”

  6. As a member of lewfam club I must say that I’m fed up with this circus that has been created around David Smith, who has been nothing but the best FX trader and who, along with lewfam helped small investors to have access to returns that only banks and the riches have access to. This is not about Olint. THEY HAVE THE MONEY OF SMALL PEOPLE LIKE YOU AND ME FROZEN!! NO WRONGDOING PROVEN ON THE PART OF D.S. OR LEWFAM. All they have done is try to help Jamaica and Jamaicans (close to 5,000 members just in Lewfam). If you are a member and want to do something about getting this travesty of so-called justice over, contact me Mariana Posse at mariposse@gmail.com. Together we can win.

  7. Sadly, Brian Lee commits suicide because of losses with investments in OLINT. David Smith, his brother Wayne, their family members involved in the operation of OLINT (and others) are ultimately responsible for this suicide and other suicides because of financial ruin because of these thieves. They all knowingly mis-led club members to get their hands members’ money, knowing full well that OLINT was not involved in legitimate investing and that they would be unable to pay the returns they falsely indicated on monthly statements.They are just liars and thieves and belong in prison for many years like all the other ponzi scheme frauds!

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