OLINT Failing

 June 6-26 should have seen payments of OLINT members’ requests for January and February 2008 completed. Instead of OLINT ‘investors’ jumping for joy and punching fists and high fives, they are finding themselves on the edge.  In fact, June 23, 2008,  should have seen the the beginning of payments of those who made requests in March & April, 2008. The week has started with very interesting rumors surfacing.

Given the lack of transparency of David Smith led OLINT’s operations, it is invariable that they will fall victims to speculation and rumors. Now they, OLINT, have the power to change this but so far have done little to nothing the set the record straight.

The following statements are some of the rumors. We have no proof to any of the following.

  1. US $80 Million dollars wired to OLINT is being held by TCI Regulators.
  2. US $240/250 Millions dollars to the be wired to OLINT on or about July 2,2008. In summary, expect more delays in payments.
  3. OLINT has at least US $750 million in account(s)
  4. OLINT has just last week completed “Due Diligence” with a broker Oanda. 
  5. Banks are now carrying out re-verification of Olint member accounts.
  6. Sunday Evening (June 22, 2008 ) Meeting being help to quell discomfort among larger “investors”

Pretty much all hear-say so take it all with a grain of salt. The problem is that so many OLINT members have nothing else to go by and that is a fact.

What is also a known FACT, is

  • That there have been delays in payments and non-payments.

We also know that the failure to stick to the the announced payment schedule has left many loyal OLINT supporters extremely disappointed, some sad and others angry. 

If the rumors above turn out to be true, more delays are inevitable. Based on the rumors, the critics of OLINT and other UFOs  are more than reasonable in their assertions that OLINT has crashed, if not crashing. 

The continued lack of transparency and lack of regulation certainly leaves the stench of SCAM hanging in the air. 

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34 Responses

  1. JohnDoe,

    Its really sad to see what is happening to those folks over at “invest4life”.

    I read it from time and spend more time fuming that laughing at the stuff that is written.

    I have since come to the conclusion that those folks are cult like in nature and CANNOT be saved, but our intervention.

    I am the firm opinion given all that has transpired that despite all the cash that Olint has received over the past 2.5yrs, they have now officailly failed.

    The situation may have been made worst by the rumours that Joey and others may have been allowed to withdrawn a huge sum from Olint, which no doubt would have been other peoples money since the O is not profitable (my opinion).

    I do hope I am wrong for the thousand of Jamaicans who have “dumped” thousands of US$ in this an other entity.

    The failure of Olint means the failure of:

    WW
    Lewfam
    F1
    UWIN
    Tcifx
    … The many other piggyback clubs.

    Olint failure will be MASSIVE and make Cplus look like childs play, based on the amount of funds that seemed to have been invested with them.

    God help US !!

  2. The folks over at “invest4life” have to deal with their denials.

    I will continue to speak out, because we need people to stop and think before dumping more money into ‘O’s bottomless pit. This is appears to be a massive deception of no mean order.

    The more money, I hear in these schemes is more I hope our analysis is wrong.

    The problem is, if the sky is blue, the sky is blue

  3. John as a followup to what you wrote above I saw this information posted over there, take it for what its worth.

    d_silver_lining Says:
    June 24, 2008 at 9:58 am

    YUP…got 2 calls from different members about the big ‘O’ meeting with Wayne & David yesterday evening to quell rumours and calm among the BIG investors!! A lot of prominent members and member of parliment of our new Govt. was present.

    (This meeting would have taken place on Monday)

    Pretty much opening up of some of D.S key trading accounts, one did show $750 million another showed $100+ million. A Balance sheet was also provided in this meeting and info pretty much showing it will take $200 million to satisfy the present encashment requests. The same document I mentioned from Oanda was produced with July 2nd date for payment of $250 million.

    From my understanding this was the last of the due diligence being performed by the bank/broker and it’s to ensure that theirs no dirty money being rinsed thru the club. O did this kinda of member DD like a year ago, but the banks are re-verifying this info.

    ‘O’ is the only club that has stepped up to the plate and shown anything of this nature to their members…not MD, C+ or WW!!

    Also discussed was the eventual & drastic reduction in club members, to almost half the size. The criteria has not been stated but the club will remain open to Family and Good friends of the club.

    ‘O’ members a 2 more weeks and hopefully all encashments will be satisfied and doubts cleared.

    Let dissect this “new ” piece of info bit by bit.

  4. OK so, lets dissect the info above.

    1. This meeting was alleged to have taken place yesterday. If it involves our politicians as was mentioned then it’s reasonable to assume that the meeting took place in Jamaica.

    Point 2
    If this poster was right did you see who were the members who were said to have been present in this meeting? Read the above post once again.
    Ha, this is the same group of people who are always in the “know” and are the ones who are typically contacted to “tek dem money out” before the failure. BTW they do not write on these blogs.

    Point 3
    “Pretty much opening up of some of D.S key trading accounts, one did show $750 million another showed $100+ million”.

    Is this disclosure or what ? Is this not something that Jay, John and Jason have been asking for now for sometime?
    Ha, guess who had a chance to see it (that is providing that the [poster is correct).

    Well it’s the very same group who are always ” in the know”.
    Did you get that, now these folks have seen the information (unaudited), they can make a decision to “stay” or ‘flee” based on the “financials” shown.

    The small investors have said that the club is private and that they really do not care for this type of information, as long at they get their 10% per mth or whatever it is posted to their account.

    Point 4.

    Another due diligence- seems like only when its time to pay out we hear this.
    If that $200m encashment is correct, its means that “O” loyal supporters are fleeing, while they continue to post “positive’ comments on the blogs.

    In the forex world there is a term called divergence, I guess I can safely make up a word and call these so-called supporters ” Divergent Supporters”.

    I.e. they are saying one thing and doing something very different.

    John, Jason what your take on this “new” bit of information.

  5. jay

    This sound like propaganda. What do I beleive wne I do not have any proof.

    D silva lining is not a credible source.He could be working for O or one of bthe other clubs for all I know.

  6. My source said apparantly some meeting was held. There was no mention of any government meetings and apparently it was a teleconference, where some document supposedly from his broker was shown.
    Now am I to believe this same guy who sends out false statements to people? I dont think so. Any one could have forged that document. This is so easy to accomplish. Yhis guy Smith is really grasping at straws here.
    Apparently he gave a date In July for payment. Then when that comes there will be another excuse.
    The game these fraudsters play is to keep delaying and delaying and delaying

  7. Another note. In reading the other blogs and listening to other people they are saying they trust there source and there source has the inside info. But ultimately all these various sources are being fed by one person and that is David Smith himself who is a Con Artist. So when ” a source” who maybe honest is given BS then it only stands to reason that BS will be repeated.

  8. Jay – on point #2 you are wrong. #3 has inaccuracies. I like the term “Divergent Supporters” but it too is only partially true. There is a belief that says “we create or manifest what we focus and concentrate on, whether it be good or bad”. I ask you this – of all the possible outcomes for O in the future, which is the one you would like to manifest?

  9. SC,

    I would like if all “investors” could get back their monies placed in these AIS including Olint.

    At this point it looks pretty dim, but then again “most” seemed to have invest what they ” can afford to lose” , whatever that means.

  10. jay sc is a positive thinker..yu caan fight him down for that….But things looking dimmer with each passing day

  11. On the contrary. With each passing day things only get brighter as the “trueth” draws nearer. Good or bad, isn’t ‘trueth” the ultimate source of enlightment?

  12. NEWS FLASH-OANDA DOES NOT DO DD ON FUNDMANAGER>>>OLINT IS LYING

    “OANDA does not promote or screen any Investment Managers who use FXManager. Clients are encouraged to do their own due diligence and to ensure that the terms of the agreement with their Investment Manager are clearly stated and agreed upon. OANDA makes no representation as to the qualifications, experience or regulatory authorization of Investment Manager or lack thereof, and will not control Investment Manager’s actions.”

    https://fx1.oanda.com/ma/relationship.shtml

  13. Catd,

    So that effectively blows Olint explanation out of the water.
    Its always the right thing to check what your investment manager is telling you as he could be lying through his teeth.

    Good work in doing your own DD on the O, as this may have exposed another lie by the O.

  14. My information was that the INTERPOL was what was doing the member background checks since June 12th, and that as of a few days ago all the mombers passed.

  15. lenny mi nuh beleive yu and yu source.

    One DD then leads into another. No external verification and mi caan get mi money.

    MI nuh buy that.

  16. Catd, I think thats FXmanager

  17. It will be interesting to see “if” those encashments are honoured how many members will actually stay in and to see if O really does close out accounts. It is hard to imagine that O has the physical resources to actually adminster the backlog of encashments in a timely manner. I would imagine that if funds are actually available July 2nd that it would take at least 6-8 weeks to pay it all out. I hope this is wishful thinking or actually does happen. This all reminds me of the many times I have lent money to supposed friends and they keep saying “it soon come, gime a likl more time” and I never get paid back. Knowing the vindictave nature of many of us, D will certainly have much to worry about if certain members are not paid.

  18. lenny my dear I am an optimist…and I guess you are too. But the fact is even if O was undergoing DD.. DS should have some cash reserve fi himself weh him coulda lend to O to pay out members or even take out a loan to pay members based on him personal net worth to help alleviate the situation.

    With each passing day, I beleive less and less I am gonna get back my money.

  19. I am an investor with Lewfam. My April encashment request was paid June 23 and arrived into my account today. That was in line with OLINT’s schedule to pay April requests between 23 and 27June. It appears that OLINT and Lewfam are trying very hard to fulfill their obligations to their investors. If it was a scam they wouldn’t be paying their investors.

  20. john…..I friend called lewfam and they said that they have not gotten any money from DS….They found alternative means to pay….which means they got money from new members to pay old…..So before you talk my youth get yu facts staright. Call dem to verify weh mi a seh

  21. Catd.

    That stand for one word. PONZI !!

  22. The friend of mine made several request and she only got 4% of what she requested.

    I honestly believe O and its affiliate have now become full blown ponzi. They set the june deadline for repayment to restore confidence so new members would put in money. With a month of june collections from new members. They then use that some total of june to payout.

    They pay smaller request or people who had made small request. The few who get pay then spread the news and put in new money Thats the reason why some people are getting paid and others have not been. the ones making large request cannot be honored.

  23. JAY /JASON/NOCOTEC U ARE A SORE ;LOSER, AND A HOMO FROM WHAT UR FREINDS TELL ME. ALL U DO GO AROUND ON DIFFERENT SITES MAKING FUN OF PEOPLES FINANCIAL LOSES, WHILE U HAVE NO MONEY IN THESE CLUBS. U ARE OF NO USE, ALL U DO IS SPECULATE AND PLAY WITH PEOPLES FEARS, PEOPLE WHO HAVE MONEY WITH OLINT I SUGGEST U STOP WASTING UR TIME SPECULATING GET A LAWYER AND DEMAND A STATUS OF UR MONEY, WITH FINANCIAL STATEMENTS IF NECESSARY. STOP WASTE TIME WITH PEOPLE LIKE JASON/NOCOTEC/JAY, THEY ONLY GET PLEASURE FROM UR MISFORTUNES, HE HAS BEEN KICKED OUT OF MANY SITES FOR HIS PURE SPECULATION WITH NON PAPER WORK TO BACK HIS SPECULATION

  24. Oniel,

    Your post above is not worthy of a response, however I just need to teach you a few things and hopefully you will learn a thing or two.

    You had your name to Joan Doe over on the other site sprouting the same crap. 🙂
    You can run but you cant hide.

    If you look at the language on this site and the quality of the post that are here, you would have noticed that your above post just does not cut it here.

    You are cursing the wrong guys, instead you should save that language for the principals of
    MD, Olint, Lewfam and the other PONZI’s that you happen to be a part of, and who have not paid you in 6 months. !!

    Can you imagine I place my money with JMMB and they tell me I cannot get my money and keep moving the goal line.

    I would be a very unhappy man and would no longer do business with that company.

    When it comes unto 10% per mth it appears that common sense and good judgement simply flies through the window.

  25. Catd.

    You have seen the light my friend, those folks over the other site”investforlosses” have failed to come to the realization and are still in a state of denial.

    It just a pity we did not start this site earlier to help folks avoid these PONZIS Schemes posing as forex trading companies.

  26. catd

    there are many ponzis who wear the outfit of forex traders, however the determination of whether olint is a ponzi has to be more analytical, more than just stereo typical.

    we cant just assume a trader is running a ponzi because he claims high returns. we have cannot make such claims until we access their financial records, truth be told that is the only means of determining how ligitimate his returns are.

    the fact is because cash plus has failed people have began to assume that once anyone claims high returns, they are running a ponzi.

    Lets us be responsible, though we are highly suspicious, for our brothers who have money in olint, let us encourage them seek legal counsel and pressure smith for financial records, as that is the only means of determining if olint is a ponzi.

    For those of us who not knowledgable with regards to forex, between 2- 20% per is nothing new, yes there will be losses, but any seasoned and experienced trader and managed his losses with stop orders, nothing new.

    There are many traders who can trade ur account for u who will pay good rates, who ever unlike olint, they dont have access to withdraw ur money.

    So people lets us be responsible and demands financials statements, that is where the truth lies.
    Speculation makes no sense, as either of 2 things will happen, u get ur money or u dont, it was ur chose to take the risks, be prepared to deal with the consequence

  27. Jay I apologise for my former outburst, calling u a h.m., but i think u need to get a life . U have nothing to lose move along, and stop striking fear into people, the horse gone through the gate already, that is when most people have an opinion.

    People u all took the risk, be prepared to take the consequences, i cant tell u all what will happen, but hope for the best, be prepared for the worst, olint aint no cash plus if he has lost ur money, i heard from a freind who works there that there is alot left.

  28. AML, on July 2nd, 2008 at 11:19 am Said:
    http://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=1620

    Olint, TCI FX, I Trade FX money laudering charges on June 30, 2008 by the NFA in the USA.

    Story come to bump

  29. olint is a ponzi

  30. Are you guys saying that David Smith is not a genuine FX trader and that he is a phony. It seems like one the main contri butors does some fx or knows a bit about fx trading. What has been his or hers returns so far. Can this thing work if you know what your doing. Why the bitterness against David Smith and other FX traders.

    You guys need to get a life, if you guys invest in GOJ papers, stocks and bonds good for you. Maybe you all can do so because you a lion share of funds that you can get a good amount of returns to live comfortable.

    So good for you all, keep up the bad mouthing of David Smith. The man and others will be true to their words and deliver.

    May the peace of God rest and abide with you all.

    Concerned

  31. Have any of you guys ever trade on the Fx i have started two month and make 20%per month because i am new my friend who introduce it to me makes $1000 per day annother friend makes between 30 to 60% per month annother guy who started in January double his money every two month i have seen there acounts get you self educated and stop bad mouthing David Smith

  32. Having lost my monies at the ‘other’ plus, I take all these rumbling seriously.

    Cashplus use to have full page ads on Sundays to ‘quell rumors’, now all rumors have been quelled.

    I would like to invest in OLINT, but me a wait!!

  33. As for the spokesperson for JMMB:

    10,000 for one month
    77.18 Interest earned
    -19.29 tax
    -33.29 fees
    – 5.49 GCT

    Forgive me, If I am not hooping and don’t bother to use the ‘safe’ argument!

  34. What is the most disturbing to me is that this case has been dragged out for two years! That is madness, if there is no evidence of wrong doing release the man and the funds. To my understanding it was because of the freezing of the funds that payments could not be made. If he cant make payments then by all means lock him up but to drag this out for two years and not be able to convict someone is total madness….also the defamation of character involved with people in the news calling him the head of a ponzi scheme is careless behavior because I have not heard of any evidence being brought forward.

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