Olint Payments to begin rolling

After months of no payments from the David Smith, Overseaslocket Investments(OLINT), a few members received some money on Friday June 6. As usual nothing is very clear but according to sources, the money is flowing and should flow, at least until the end of June.  In a release sent out just before  disbursements began, the follow quote should be noted.

“The foregoing schedule of disbursements has been carefully worked out to ensure an equitable distribution as far as possible and further, to ensure that the payouts are in accordance with the inflow of funds from Olint TCI.”

Members and onlookers should read carefully. The  disbursement/encashment schedule for requests made January 1, 2008 to April 30, 2008 is shown below.

  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.

Members and supporters will see this as a good sign and an answers to those that claim that OLINT is a SCAM and possibly a PONZI.

However, the critics will argue the following. While OLINT has not been paying it has been collecting and new members have been joining either directly or via affiliate/feeder clubs. 

It should be noted that even as the matter is still be before the Jamaican courts, all OLINT members are being converted to OLINT TCI members. Interesting times lie ahead.



35 Responses

  1. People are really thinking everyone will get there money? What the Conman may do is pay the smaller accounts (under 10,000) so they can lead the cheerleading. But he does not even have enough money to keep that charade up long.
    Or he may come up with another excuse to stop paying. Maybe he will state that space aliens have taken the money.
    My bet is that sometime in the coming weeks the Conman will vanish into thin air as he goes into hiding

  2. Jason is that you? Good to hear you… hope you are not just passing through.. Anyway welcome and good to hear from you. If you have any articles to contribute just let us know..

  3. when did DS move to TCI . Wonder why he moved overseas?Jason you may be right, that is a plausible possibility.
    I do not think he started out a ponzi but I think over time he probably lost money and used newer lodgment by newer customers to pay customers to make payments.I think more is wrong than DS and O letting on.

  4. Catd , you are right on the money my friend.

    Plus I understand that there were certain huge withdrawls which placed them in a liquidity crisis.

    It appears that new investors funds was used to make these payments, which I am told were very very large.

  5. I think that you boys are full of ..it. In my view DS is more reliable than any of the “regulated” entities in Ja. As for the so called “fit and proper” business ….. my only question is “fit and proper” for what? fleecing the investing public perhaps?

  6. John Doe. It is indeed me. I will post articles if I see any good ones. But I see regular investors should have a portion of there money in gold as Inflation is creeping up in the world.

    Cat D I agree with you 100% also, I don’t think DS started out as a ponzi, but after a couple of losses and the balooning of the size of the club it turned into a ponzi scheme.

  7. DS has carried us this far. I truly hope he gets rid of all the troublemakers and stick with his original core group of investors.
    Your just mad cause you cant get any investors for that damn bank you work for.
    DS has been living in TCI for quite sometime and we dont blame him. He has done more for Jamaica, and constantly gives without his name or the Olint name being mentioned.

    Satisfied Olinter

  8. to jay
    empty vessels make the most noise.

  9. olinter…it is now june 12th. So far no one I have spoken to have received any money from O. The feeder clubs like lewfam have been unable to pay and they cannot tell you when they will.

    I think people who are receiving money should post online so others will know.

    I wonna be out othe club olinter …..but I still have not received my money. I requested most of it.Until myself and others receive our money and their is more transparency. I will be speaking my mind.

    1.I cannot sing praises when 6 months have passed and people have not been paid.
    2.I cannot sing praises until there is more transparency.

  10. I know some bloggers will say i am jay but I am not. I am just a mad olint and feeder club member who cannot get paid or get answers.

  11. Catd,

    That is funny, they think you being Jay :).

    You see the thing with some of these guys is, they continue to sing and dance as if they stop they will be seen as not being faithful(cult behaviour).

    As soon as they get their money, they are outta here .

  12. The thing that scarces me is that payment seems to be rotating.

    Lewfam was paying.Stopped paying in april. Olint was not paying during that time. Now olint is paying throughout june. Not sure when lewfam will return to paying. I guuess when olint stops.

    If olint had experienced a due diligence then where is the docs for that due dil from the bank…etc. This could be verified by an independent auditor.

    Auditor could also reveal how stable the club is.

    People I am not being negative but we need answers.

  13. Jay,

    I wired money to Olint TCI in May and up to now they have not acknowledged it. What do you think i should do?

  14. SugarCane,
    Let me ask you a question first.

    What prompted to send O money when all this was going on ie no one was being paid since January.

    To your question.

    1.Now I understand that their customer service stinks so not sure you can get through their….
    2. They not answering emails

    I therefore suggest you contact your local bank( the one you wired the funds from) to track the funds.
    Have them confirm that the funds have left their system and if they can also confirm its been received by the receiving bank.

    Now SugarCane, you see the first folly of your “investment”.

    You have no idea where you principal is and you have not even started to invest yet.

    Wires typically takes no more than 5 working days.

  15. Jay if Olint or Olint TCI are registered in Turks and Caicos then they are audited. TCI FX for example are insured by HSBC London their auditors are KPMG therefore I could request to see their financial statements.

  16. Tito,
    I hear they are registered but have seen no proof of registration with the equivalent of the FSC in TCI.

    I like you agree that members should demand audited statements if they are available.

  17. Jay,

    I will work on getting the proof of their regisration shouldn’t be hard at all.
    Turks is a UK dependent territory and the rules and financial regulations are strict here, I have no doubt that these companies are legit, whether they’re competent or not is an entirely different matter…

  18. I was doing some calculations. Based on the TCI FX account.

    If one had $US10000 at the beginning of january. Then based on performance your account would be 8448.7 now. This means that your account has decreased by 16%. This is not far from olint 25% that is required to be held in the account. It means that he would have only 9% of your money to trade at all time. When he would be telling us he has 25%.


  19. This is based on the assumpstion that one really had 10k in the acxcount as stated by ds.

  20. what 25% are you referring to?
    if 25% is required to be held in the account then after a 16% loss there’s still 59% left to trade with…

  21. if you withdraw your max 25% tito

  22. that is if you take out 75% of what is there now. then you are left with 25%. Based on the losses of tci fx which is actually 16%. Then you would really have 9% left to trade.Get the drift.Maybe jay can explain what I am saying

  23. Your logic is lacking, you can’t compare (add/subtract) percentages on different principals.

    Let’s say your starting principal is 10,000
    16 % loss you’re left with 0.84 x 10000 = 8,400
    Then you withdraw 75% = 0.75 x 8400 = 6,300
    The amount of money left to trade is
    8,400 – 6,300 = 2,100
    2,100 is 21% not 9% of the original amount

    Basic math

  24. Olinter. LOL you people are really priceless. Arguing with the likes of you are futile. A long time ago I have accepted that there will be winners and losers in life. There will be rich and poor. The challenge for the people who have lost is to learn from the experience.
    It is obvious to any rationale person that DS is a fraud but when money and emotions are involved there will be people who will not be able to see the elephant in the room,

  25. Nobody that I know so far has been paid in the required shedule Or hacve received any money.

    The future looks dim.People still defending O when they still cannot get get their money. Lewfam still telling people that they will have not recieved money from the trader(DS). Who cares.

    O is one of the biggest scams ever and DS will pay. Him losing money from longer tuime and not telling folks.

    TITO whta was the performance in 2007 for FX TCI.

  26. forex rookie come aug 19 you will get another date. their is no gaurantee you will be geting on that date or at all.

    Lewfam customer service is great but thats all I will say. they seems to have the same standard answer.It makes no sense to have great CS when their is no money.Lewfam-“We have not received any money from the trader”. DO I care when I camnnot get the money I requested or cannot get any answer when I will be getting it. No accountability with what happened to my money.

    1st it was june 5 now august 19.when will this end.

    People I honestly think someone is wrong….this does not make any sense.

    I really do not think these people have any money. If someone knows differently please give me proof. Otherwise I will keep my stance they are broke or bankrupt or ponzi…you name it.

  27. Money is there and not lost. Holdups end July 2 nd and will be wired soon after. You will all speculate yourselves to death. Don’t jump the gun. Relax. There is no elephant in the room. Not yet anyway.

  28. advisory for olint by st kitts and nevis


  29. sc I hope yu right cause mi know nuff people weh a lengthen rope and sharpen dem knife.

  30. if dem nuh get paid wi ago have nuff funeral

  31. Interesting to read comments of the past while we can see where we are today.

  32. Hello everyone,

    Just to let everyone know that I am a member of the Olint TCI. Upon reading these comments I detect anger, disappointment, mistrust and suspicion. To all the members I say there was one undeniable fact we all new it was a high risk investment club and we all chose to be apart of it. To top things off with all the economic turmoil and attack on alternative investment scheme in Jamaica, Olint is the only one that is still standing, even though they maybe on shaky grounds. One thing is clear we were all drawn to the promise of higher interest rates than the ones the banks in Jamaica are offering. Another undeniable fact is that the alternative schemes have been under attack by banks and government. But it is the people that will make the difference running to pull out your money is not the option as this will cause the company to fall instead of guaranteeing its long term success. I would say that don’t complain about not getting your money you knew what you were getting yourself into.

  33. Is lewfam taking new members and lodgements ?

  34. I heard that they were from a friend.

  35. New Venture. Promise plenty money. You can buy big house and car. Tek yu money out of the banks and send them to me.

    Please invest in foreign exchange called “ALRIGHT THEN, Investment for the Future.”
    I promise you a definite 50% on every dollar you spend every day.
    You can go to my website at http://www.alrightthen.com. But first you need a password to tell you what to do. I won’t let the public know what my website is about in details.

    DISCLAIMER: Present profits do not have anything to do with future gains. If you put your money in and lose it, it is your business.
    Also, just to let you know that this investment business you are about to get into will not be regulated by any governmental body because it is none of their business. Government everywhere just want to oppress poor people.

    Also, if you get yu pupa and yu muma to invest, I can give yu an extra 10% pan yu money every month. How you like dat?

    Also, if your money does not arrive on time, it is because dem wicked government people want to suspend mi account. Boy, I tell you, dem wicked yu see.

    Anyway, I will get back to you about this investment company as my private jet is waiting for me to go to Miami to shop. … and by the way, the Jamaican company is located in the Bahamas, because dem grudgeful and wicked Jamaican banks just envious because people can mek money.

    When a come back from Miami, I will write again and tell you more. In the meantime, send your deposit (at least $10,000.00 per person, US dollars) to Alright Then Investment for the Future. PO Box 110245, Springfield California, 33567.

    Walk good.

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