D stands for Disappointment

It is June 30, the last day in June and members of at least two(2) Alternative Investment Clubs have been left bitterly disappointed. OLINT, and its affiliates, and MAY DAISY have sorely disappointed their members and for every day that goes by, hope fades rapidly. Only the those who seem to have connections or unbelievable faith, stand unshaken. 

OLINT Failing and more excuses

The David Smith led OLINT, despite elaborate payment plans to pay outstanding interest and encashment request for January – April, has failed to do so in the main. There have been a few fortunate persons but from all indications the majority have been left like dogs panting for a drink of water with no watering hole or pan in site. Indeed even high level meetings were held Sunday June 22, 2008, in an attempt to quiet the growing disquiet among big players, including directors of affiliate clubs. The latest excuses center around more due diligence and broker problems.

July 2, 2008 has strangely become the new marker for OLINT when it is alleged that US $240/250 million  should be released to OLINT to facilitate payments. Based on the limited information available it appears that payments have been again postponed, once again, and the June 27 deadline has now been apparently shifted to July 25/28, 2008.

OLINT faces a serious challenge, as some requests made in May and June are also now due, so in effect January to June 15 requests and interest payments will become due in July. 

May Daisy in cycle but no bloom

May Daisy Cycles seem to be carrying persons in circles. As one season changes to another the expected blooms have not occurred. While there are mutterings of a person or two getting payments, of the very few that have gotten something back, most have received only a small fraction of what they requested or are due. For those that expected Daises to bloom by now, the disappointment has been to see dead or dying daisies in Garden.

On May 31, May Daisy officially closed all Jamaican accounts, citing the aggressive nature of its Jamaican members but what did they expect. Persons not getting paid to simply keep quiet and behave like “lambs to slaughter”? A recent release by May Daisy’s management indicated that there might have been a change of Management but the details are sketchy. 

The question is how many more broken promises, how many more excuses and possibly lies will be told. We are now into the Summer months, and many members are finding their plans blown away by the storms of disappointments. Our advice to people, save yourselves further disappointments, DO NOT PUT ANY MORE MONEY IN OLINT OR ITS AFFILIATES OR ANY AIS at this time. Think and check before you invest. Memories of Cash Plus and Higgins Warner still linger.

We know what ‘D’ stands for, the question is what does ‘S’ stand for?

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9 Responses

  1. Could not have said it any better.

  2. Jay ……DS and O has lost money like indicated from FX TCI and has been hiding the info. When a big wig with large withdrew its money…..principal and so call interest…that left them with less than what is needed to pay other members.

    Olint please apportion what you have left for the rest of your members. If you do not you will be setting yourself up for serious consequence. Jamaicans are serious folks when it comes onto their money.

  3. I have a Mar request that was supposed to be paid last week – just under $5k USD . Excuse given last week about funds not coming in and that I would be paid in “July”. What a joke these Olint people are. I don’t even understand why they continue to put out the BS of payment schedules, new policies and agreements to sign – who can believe any of this – not I !! At least my attitude going into Olint was that this was pure gambling money – but I at least would rather get a statement showing a huge loss in trading than this ongoing BS about due diligence, etc.

  4. Catd.

    While I have some figures to suggest that OTC has been losing money all year, I really have no independent confirmation that the information is correct.

    JohnDoe, has asked questions already on this issue ie how is it that the “registered” product is losing money while the “unregistered” is making money.

    To date no one has sought to answer the question expect what Catd has just said in his post above.

    I however am lead to beleive that Catd is in fact correct, as rather than admit to losing money DS sought to pay out to Joey, his invested principal and “accumulated” interest on that principal @ approx 10% per mth.

    If O had shown a loss then this so called big wig could not have left with so much money, which more than likely is other clients funds.

    That by definition is a PONZI.

    The month of May/June has been very bad for most speculators so there may even be more losses this month, which means payments due may not be honoured any time soon.

    I do hope I am wrong for the sake of many thousands of Jamaicans.

    It once again highlight the need for :

    1. Regulatory oversight
    2. Transparency.

    Yes I may sound like a broken record, but I will continue to do so.

    If you look over now at the “invest4life” site, more and more folks are asking for transparency albeit a little too late.

  5. Jay, if you’re referring to Olint TCI and TCI FX as the unregistered and registered products I received an email this morning from TCI FSC confirming that both are registered here, however info on the company would need to be paid for.

  6. I am still waiting for my money to be freed from these guys! I am getting my money out of these clubs as it offers NO transparency…we are being thrown in circles here of speculations and rumors of what is giong on. I just discovered Rove Capital over at invest4life and i just got mi a account. I like how I am not sending them my money but only to the broker. Definately can sleep better at night!

  7. lewfam now has formed a new company called lewfam tours. I guess the revenue from this will now be used to members…..http://www.lewfamtours.com/

    If you try to log into lewfam at …. http://www.lewfamclub.com/ has a link to it.

  8. 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.

  9. Pray for DS and Olint:

    Many bulls surround DS and Olint;
    strong bulls of Bashan encircle DS and Olint.
    Roaring lions tearing their prey
    open their mouths wide against DS and Olint.

    DS is poured out like water,
    and all DS bones are out of joint.
    Ds heart has turned to wax;
    it has melted away within him.

    DS strength is dried up like a potsherd,
    and his tongue sticks to the roof of his mouth;
    you lay him [b] in the dust of death.

    Dogs have surrounded DS;
    a band of evil men has encircled DS,
    they have pierced [c] his hands and his feet.
    DS can count all his bones;
    people stare and gloat over DS.

    They divide DS garments among them
    and cast lots for his clothing.
    But you, O LORD, be not far off;

    O DS Strength, come quickly to help DS
    Deliver DS life and his Forex Trading from the sword, Banks, Medias, and All spirits of Jealously ALL who want to uphold poverty in high places and DS precious life from the power of the dogs.

    Rescue DS and Olint from the mouth of the lions;
    save [d] DS and Olint from the horns of the wild oxen.

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