NCB dismisses Rumour

National Commercial Bank (NCB) has finally responded publicly to a rumour that has been swirling since at last week that the bank was blocking, holding up not accepting deposits destined to OLINT accounts. Radio Jamaica reports the following

The Bank says while it awaits the decision of the Court of Appeal, it cannot lawfully refuse to accept any deposit which Olint would wish to make to its accounts, and insists it has not refused to take their deposits or to do any other transaction

It is also understood that NCB had an ad in the Newspaper too with similar information. This release also confirms that OLINT actually appeared to have won a battle and the courts had granted an extension on the injunction barring NCB from closing its accounts. 

Brokers say not me

Based on information that we have, two brokers, Oanda and FX solutions have indicated they(the brokers) are not under due diligence and are not being investigated. The situation at I-Trade is well documented on this site and I-Trade was not blamed by David Smith in his Nationwide Interview.

FSC weighs in

Today, the FSC has also weighed in and stated that they are not preventing OLINT from paying their clients and that OLINT is free to honour their obligations 

If the information that we have is correct, it now appears that the FSC, brokers and NCB are not the problem.  




21 Responses

  1. Then if The FSC, NCB or the brokers are not the problem then it has to be Subprime Mortgages. They were the cause of much of the problems in the US financial system over the past year so it seems only logical that those nasty Subprime Mortgages are standing between Olinters and their money.

  2. Forex and sub-prime have nothing to do with each other. Forex is as liquid as it gets (I know b/c i trade myself). Unless Olint was issuing mortgages then we salt.

  3. Then maybe the soaring price of oil is to blame. Certainly you don’t think that Super Dave is at fault. I mean weren’t his trading skills legendary?

  4. Johny P. – LOL. Don’t forget the high price of “corn” on the world market. Our “corn” certainly in trouble.

  5. .. and in the midst of all this confusion, the one so called CHRISTIAN man who can shed light on the situation has disappeared.

    Why you hiding David and Wayne? Be a man, tell us the truth.

  6. Maybe oil prices are definately to blame, maybe it is global warming, or maybe it is your own mind that has enslaved you. The subprime problems, the US or world stock markets have nothing to do with DS problems. The only thing stading between Olinters and there money is DS. I will refer you back to the interview on Nationwide, it speaks for itself, count how many times he stuttered LOL. You see when you have a man backed into a corner, he becomes like an animal,trapped with no where to go, and will do and say anything just to be free. Do you real think he is getting any sleep from Friday till now. The death threats are real this time, you what happen to the JUTC boss, all he did was open his mouth and boom, he dead

    You see what you need to understand is that to DS, you should not be asking an questions, you should not be questioning his integrity, that you should just keep your big mouth shut until I tell you that you can come for your money. If it take 6 more months, it take 6 more months, if it takes 10 yrs then it takes 10 years. Step into the mind of a man that is trapped with no where to hide, the world is smaller than you think

  7. chinamen says doing laundry is very expensive

  8. LOL

  9. Olint investors, Lets organize and explore what options we have.

    Let’s start by organizing the groups.

    Can someone from each of the following areas volunteer to be the person who would collect information and act as the coordinator for that group and between the other groups.

    1. Jamaica
    2. South Florida
    3. New Jersey, Southern New York, Connecticut

    What we have been doing thus far isn’t working. This is where it has gotten us over the past 7 months. NOTHING!

    That is also what it has gotten Cash Plus and HW investors. They sat supinely while their money vanished.

    Stop saying it can’t happen to me. It is! Wake up

    Even the guys on the # 4 bus should join this effort. We are all in this together. Kevin this would be a good time to stop blocking people from posting on your blog. If the Titanic is sinking, don’t we need all the lifeboats?

    Any one who would like to get together to share information i have set up an email at olint_investors at yahoo dot com.

    Are we going to just sit and watch our money just disapear, or are we going to at least try to see what our options are.

    20 persons seeing a lawyer is much cheaper that 1 person.

    olint_investors at yahoo dot com

  10. Even if there were being investegated by a government entity, They(FSC or whomever) would have sent out an OFFICIAL statment telling each account holder of what was going on.

    Also Olint would also have to disclose this infromation. I was once working for a company that got closed because they were involved in Online Gambling. That was how each member new that the company was shutting down. They received personal emails and The attorny general posted this info on various websites eg. poker gambling sites for everyone to see.

    Even though this is an investment club I think the FSC or whichever government body would disclose by law that the accounts were at least frozen and the same process would be followed as I stated above….

    If your being invested gated by the IRS or whatever government body they dont just freeze the funds and NOT tell you why. You are given prior notice.
    Thats why I never believed that due deligence nonsense!

  11. miachica,
    I think I have to agree with you 100%. I have been looking myself and I can not find any information about due diligence. As was stated before in the Observer around a couple months back, Wachovia was not carry out no due diligence on Olint’s accounts. Then the story moved to my brokers are under due diligence. Then the story changed to the NFA, the FSC, the SEC and Micael Lee Chin got together and said you know what, “we are going to wreck Olint”. Please all this due diligence stories are nonsense. The media is out to get him LOL.

    Does DS know how people are hurting, I spoke to about 5 people today who don’t know what they are going to now. People need and want the truth DS.

  12. Ok guys in all seriousness your best option of recovering something is to quickly get counsel most likely in TC and sue Mr Smith and his companies for your money. The sad news is that I doubt there is much money at all to collect. You see in a ponzi scheme most of the money that was collected has already gone out the door to pay these outrageous returns that attracted you guys in the first place. Besides you Oliniters there are also the many feeder clubs that have been paid handsome returns as well.

    Let us hope that Mr. Smith actually squirreled away some cash for himself and spent it on things that hold value (like real estate though hopefully not in FL) , expensive art, jewelry and such. You guys will at least be able to go after his ill gotten gains from running this ponzi scheme to recover some of your money.

    I suggest investforlife that you try to post a diagram of how a pyramid scheme works so the folks that are looking for their money from Mr. Smith will fully comprehend where it has all gone. You have done extensive reporting on how these schemes work but sometimes a picture will provide more clarity to those seeking answers.

    The first step in recovery for you Olinters is to accept that MOST of your money is gone forever. However, what Mr. Smith acquired through this scheme perhaps can be encumbered through legal action to ensure that you recover something.

  13. “Olint investors, Lets organize and explore what options we have.”

    I would start looking at Turks-Caicos law and trying to find out what you can do from a legal standpoint. You might be able to sue under Jamaican law, but I’m not sure what could be done there because DS and crew would have to be idiots to not move everything to Turks-Caicos after this much time. US Courts wouldn’t really have standing to do much about anything.

    Anyone know anything about Turks-Caicos legal matters?

  14. Did anyone watch Boiler Room? I have it on DVD, very interesting movie. To all who haven’t watched it try to see it. Vin Diesel reminds me of DS LOL

  15. I believe that Jamaicans are the most ungrateful, disloyal group of people. HAs anyone appreciated what DS has done for it’s club members in the last few years? Has anyone wondered why all of a sudden there is a problem? Did it ever occur to anyone that this was being instigated by an unhappy person who can no longer rob us by paying 6% per annum. Well I have been a club member for 2 1/2 years and very satisfied! We should stand together & hope this operation does not fail because a lot of people will suffer!!!

  16. My Enron stock did very well too for quite a few years, and look what happened. Bottom line is, Yesterday’s Hero is Today’s Zero.

    7 months of getting no money and being given the run around has left me fresh out of good will for DS.

  17. I dont care what NCB says, i personally know people who work their and were told thet would be fired for being apart of Olint

  18. um what does that have to do wit the fact that the money nuh deh deh??


  20. NCB is my bank, and them suck fe true 😦 But in JA, all bank suck

  21. Someone need to slip him a note that he needs to Repent.

    DS need to tell the wilderness not to get too comfortable with him for sooner or later he will walk out .

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