Olint announces payments of pre-May requests…

Reports are surfacing that David Smith led OLINT has now outlined encashment periods for requests made by club members prior to May 1, 2008. This information should have been available from May 26, was delayed until May 28, then June 2.

Reports are that members that requested en-cashments before May 1, 2008 should start getting payments as early as June 5, 2008 and should be completed by the end of June 2008.

1. January 2008 requests – June 5-13, 2008
2. February 2008 requests – June 16 – 26, 2008
3. March-April 2008 requests – June 23- 27, 2008

However there are some limits to note.  In the the first period only a maximum of USD $40,000 per client will be paid. Unpaid balances from a request in the first period will be paid in the second period along with requests made in the second period.
 

According to information available, all requests after  May 1, 2008 will be covered by the new encashment policy that came in to effect, June 1, 2008.

As usual monthly gains for the previous month will also be available by Friday June 6, 2008.

Related:

• Olint releases Encashment Policy

May Daisy Members still in the Dark

May Daisy members are still being left in the dark regarding repayments. There are supposed to be six groups, A-E with the first group being repaid by June 13 and the last group by November 14. Here is a synopsis

Dear Members:

We apologize that we have not completed the updates to all the accounts. The updates have been delayed as we try to honour the many requests for status reviews. Update priority is given to the accounts in the earlier cycles. We have updated all of the cycle “A” accounts, therefore all persons in this cycle will now have seen this reflected on their account. This cycle has been closed. We have also closed off the list for the cycle “B” accounts and are in the process of updating these accounts.

We expect the payments to be on time and are working feverishly to ensure this happens. We thank you for your patience and wish you God’s richest blessings.

The problem is no one knows which group they are in. It is reported that May Daisy has issued an announcement claiming that the members in Group A have been repaid and should start seeing this reflected in their banking accounts. 

However, “investors” have found this less that satisfying and are angry and puzzled at the way they are being treated. May Daisy in good times paid 20% per month on sums invested. The returns were allegedly generated by FOREX trading. May Daisy had previously announced that on May 31, 2008 it would closed all Jamaican accounts because of challenges dealing with aggressive Jamaican investors.

Related:

• May Daisy e-Partner Communigram
• May Daisy cuts Jamaica Ties

World Wise Investors Dumbfounded

World Wise “investors” who turned up to collect cheques at their offices yesterday, were greeted with notices advising them that operations were suspended for 60 days as of June 2, 2008. According to news reports carried in the Gleaner and  on CVM TV,  several “investors” gathered outside the gates demanded to speak to the manager but to no avail. Some “investors” claimed that theyhave not be able to collect cheques since March 2008. 

It is rumoured that the manager is off the island but this could not be confirmed.  There are also reports that World Wise is seeking to register with the National Futures Association in the USA.

World Wise claims the time is need to complete its audit, test and implement software,  move offices and hire and train new staff. During the period no new members will be accepted and no money accepted or paid out.

Tomorrow, World Wise returns to court to battle RBTT in order to prevent them from closing their accounts.

Related:

• World Wise suspends operations
• World Wise restructures – No Payments for 60 Days