OLINT Crash – Email Very Genuine(with letter)

Speaking on OLINT’s behalf, Lord Anthony Gifford speaking on Nationwide  News Network, effectively confirms that the e-mail is genuine. After days of speculation of whether or not an e-mail was genuine, the answer is here. Anyone that listens objectively to this clip can draw their own conclusions. 

About 10 minutes and 40 second in the clip, the hosts asks the question about the disputed e-mail.  Lord Gifford claims he is not in a position to speak on the issue. Interestingly this is from Lord Gifford who is was speaking from Turks and Caicos where he and the other members of the high powered legal team are in consultation with David Smith.

Interestingly while Lord Gifford was on Nationwide, Jacqueline Samuels-Brown was on RJR.

Listen to the discussion: Lawyer’s statement

Source: Nationwide News Network

The letter

STATEMENT ON BEHALF OF DAVID SMITH BY LORD ANTHONY GIFFORD QC, JACQUELINE SAMUELS-BROWN AND TOM TAVARES-FINSON, ATTORNEYS-AT-LAW 

We have had full consultations with David and Tracey Smith and their local attorneys-at-law Barnett & Associates, during a visit to the Turks & Caicos Islands (TCI), following the restraint order obtained by the Attorney General of TCI on 11th July 2008, which has prevented them from using their assets in the TCI. They have authorised us to issue this statement.

We have recommended a process aimed at obtaining the discharge of the restraint order and securing the return of the computers and documents which were seized from them on 14th July 2008.

On 17th July 2008 the Supreme Court in TCI imposed a gag order preventing further disclosure of the restraint order proceedings, so that we are not at liberty to give details of this process.

We have also held consultations in relation to the general situation of David Smith, Olint and its members.

Olint and David Smith enjoyed an excellent reputation for fulfilling their obligations to their membership up to March 2006 when the Financial Services Commission (FSC), without warning, raided their offices, seized their electronic and other records, and issued a Cease and Desist Order against them.

These events caused Olint to be deprived of their records for a month, and at the same time there were multiple demands by members for their funds. The accounting and recordkeeping systems were dislocated to an extent which to this day has not been resolved. Many members were inadvertently credited with more gains than had been earned for them, and in some instances this led to overpayment when they requested their funds.

Since March 2006 Olint has had to move its operations to TCI, address continued demands from club members, and pursue litigation against both the FSC and NCB up to the level of the Court of Appeal. On 18th July 2008 it won its appeal against NCB, which had ordered Olint to close its account. Its appeal against FSC, relating to the validity of the Cease and Desist Order, is pending before the Court of Appeal and will be vigorously pursued, and an early date is being sought.

David Smith wishes club members and the wider public to know that at all times his intentions and activities have been directed towards honestly fulfilling his obligations towards his members. He has not applied the funds of members to his own use. However, as a result of the pressures and hostile actions mentioned above, Olint has been unable to deal expeditiously with its accounting problems. Time is needed to conduct a full audit of members’ accounts and balances. David Smith wishes us to say that he is deeply sorry that members have suffered delay, disappointment and extreme anxiety as a result of the difficulties of Olint. If he is permitted to do so, he commits himself to fulfilling his obligations and making payments to members within nine months. He asks members to bear in mind his record of conscientious achievement.

18th July 2008

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300 Responses

  1. Game Set and Match to Cliff Hughes

    over on the other blog, they are saying that Olint should get there accounting straight and pay out according to a schedule.

    when will it sink it that the money has been lost.

    what will a schedule mean when there is no money ?

  2. Cliff is the best out there and he knew his sources was right.
    David wants to be “honest” but his lawyers and backers does not want him to, as he may find himself in prison.

    So there you have Cliff is the man

  3. Oh boy, so the email was correct. Davis Smith’s word is mud. I will not believe a single thing that man say.

  4. So I hope there will be an apology to Michael Lee Chin, about the phantom $200M, which never existed.

  5. The Con man is commited to pay back members…lol this fool has lied every step of the way. Now he is blaming his accountants…LOL
    He was not making money from trading so what 9 months going to do? lol. this guy will soon be arrested for Fraud

  6. So DS is asking for another 3months to clean up his accounts, do audits and work out customer balance.

    Question ?

    How many months did Cash Plus ask for?

    One case a red stripe for anyone who get this right.

  7. WHAT A GOLDEN HAND SHAKE!

  8. Done send these vultures shit members

  9. Jay…another 3 months! Mi want mi beer.

  10. Just got the release from Lord Gifford. Party done to rass!

  11. Losing what I can

    Please desist from posting words like you did in the last post, lets keep it civil.

  12. yes folks. the accountants are at fault….

    David has left out the part about overstating gain ( i.e. losing the money that was in the original email)

    so now, do not blame Lee Chin or Bill Clarke, its the accountants and auditors faults

  13. I know it would be a “detractor” who would have gotten it right 🙂

    OK, your case a red stripe is on.

    Next questions

    1.What do you expect will happen after another 3months.?

    2. Whose script is DS working from ?

    Two more case a red stripe if you get this right.

  14. Yow,
    We on nationwide right now.

    Big Up Investforlife !!!

  15. Jay what they said about the site?

  16. What BS! “If he is permitted to do so, he commits himself to fulfilling his obligations and making payments to members within nine months.” No Money no deh! It Look like we were in a Ponzi scheme to ra**! Him doan know how fi balance ‘im checkbook!

  17. Man pon Cell Phone can be chatting from ANY where in the world!

    Didn’t Turks and Caicos mandated that no inofrmation be divulged!

    Why didn’t another Radio Station do the interview with Lord Gifford?

  18. from may 2006 till now, they have not corrected the accounting problem…. i.e they have been losing money for a very long time.

    if the gains were real, the profits would have taken care of any accounting issues

  19. They are amazed on how quick the available information is brought to this blog.

    The interview with Lord AG for example was made available in record time for persons to review.

    Jason tune in now they are still speaking.

  20. k i am listening

  21. 5 minutes after the link to the interview was posted I received the email. Its obvious that the simultaneous call to Nationwide and RJR as well as the email being sent was all a coordinated effort

  22. ALL are Liars except One.

    There are some very good brain WASHERS’ around here.

  23. They didn’t even mention the # 4 bus on NationWide. Bwoy Kevin you rue the day you kick us off your bus.

  24. # 4 bus is for the delusional.
    The email Olint sent out is laughable. So everything was alright before the FSC raid and its the accountants that brought him down. I wish some independent auditor will go through Mr Smiths trading records and I will bet that there was hardly any gains from trading going on even before the raids. I will bet anything.

  25. this is the number 1 blog. I am a deportee from the other blog.. is the best thing them ever do. cause a over here the real facts and news are.

  26. #4 bus a BUST 🙂

    All joking aside, everyday more and more people I know are telling me of their woes with O

    The scope of this disaster is IMMENSE. Perhaps the only is to “permit: DS to complete the audit and get trading again. I don’t see any other option for members to get back their principal (interest is immaterial now).

  27. CJ,

    Kevin supposed to be pretty upset that we have over taken his blog as the most informative on the internet.

    Kevin, you are welcomed over here, we do not kick people off this blog ,we just ask that you use no profanities

  28. Where Janice deh !!

    Where Oneil !!

    Olint-for-life, PLEASE visit us !!

  29. Kullcull:

    All the detractors on this blog are deportees! But they have only one bus……we have a TRAIN!!!!

  30. you are all stars here lol

  31. David Smith has lost the right to be trusted.

    I demand audited statements as to the true state of the club, and audited statements for each of the next 9 months.

    David Smith has no right to ask me to trust him anymore.

  32. THAT’S A TRADE -OFF to stop the Propoganda MADE BY Nationwide and Possible Lawsuit resulting from the Alleged Email.

    SSSSH.. Pause…. Who know DS as a Liar? Hands up!

  33. So what now?
    Do enlighten those who have only now come to accept what has been staring us blindly in the face for some time now.

    Where does one go from here?

  34. The was a FX scam that InvestForLife had posted a few weeks back, where after the guy (a carpenter) was found guilty of running a Ponzi, he was asking the court for time to trade so that he could make back the money he lost. A lot of his investors petition the court to allow him to do so. Of course the judge said no. I guess Olint Investors are willing to do the same here.

    That, I think is a foolish move and would only lead to total depletion of all remain funds! What can he do in 9 months that he could not do in 4 – 6 years?

  35. WHich one of my emails cliff read..I never hear that?

  36. Dave Sin;

    As long as he gives us audited statements, otherwise we should still sue his ass!

  37. Olint has got to be transparent from now on. If we have any balls, that is what we should demand, and settle for nothing less.

  38. And the Truth shall set you free.

    Truth, where are you ?

    You have been very vociferous all day, what happened.
    Did the truth set you free ?

    Chimp,
    I have made many post on this but most supporters lost another 48hrs waiting for Cliff to prove that his sources were correct.

    So another 48hrs went by, plus another 48hrs over the weekend.

    So its Monday before any action can be taken.

    Time is not on Olint investors side .

    CashPlus asked for three months and after than a receiver was brought to clean up the mess.

    I see no difference in the Olint case.

  39. Dis ruff bad…..soooo disappointed

  40. Jay – re-post do I beg you. My poor head can’t take the searching to find.
    Please.

  41. anyone have any idea what happened with the wealthbuilder club and uwin antigua

  42. Well I swore off this blog because it was too upsetting but now we know some of what happened I am dealing.
    O was a real mickey mouse operation. There are supposed to be so many backups and off site storage for information like customer accounts the whole thing is just totally unacceptable.
    Now whose funds does he plan to trade with for 9 months. Somebody needs to tell this knucklehead that the game is OVER! His plan is like going to vegas with $500 to lose – losing it, then saying let me go to the ATM to get another $500 because I know I can win over $1000. Doesn’t work!

  43. People the #4 bus has developed engine trouble and seems to have stopped driving.

    Dave,
    “Try going over there and fix it nuh, oh betta yet send Tito”

  44. Jay;

    You can give it up.

    Jamaicans will just go back to hoping and trusting David Smith, because that’s all we know how to do.

    We won’t ask David for any proof. We won’t make logical and rational decisions. Because we never do.

  45. … not good Keyser, not good at all … (munch, munch, munch) … tell yuh sey one big ‘belly’ rat give yuh weh … (burp) … big video director rass cliff-us dem bus’ yuh … (guzzle, guzzle, guzzle) … yow, mas’ cliff … memba sey dat janice and dem ah wait pon de video too …

  46. # 4 bus dissolves in stunned silence.

  47. Hey hold ur horses before u all kick DS to the Curb….I have faith and somehow believe that Ds will triumph when his tribulations are all over.

  48. CJ are u saying we Jamaicans are all knumbskulls ? One thing for sure we certainly don’t like econmic slavery?

  49. well, we have noi choice, we will give him 9 months, i year, or 2 year if he wishes..

    while most people will move on with their life. Drowning man clutch at straw, Olint money has drowned, so I will give him the nine month while I do overtime on my day job, because the nine months is justs fool’s comfort.. but it better than nothing.

    people also wanted Carlos Hill to get bail to go and make billions…

    so it go, concentrate on your day job to make money folks

  50. CJ,

    What in your mind is the next step for Olint investors?

    I for one DO NOT any more time

  51. kullcull – is there any evidence to support him being a trader who actually does well????

  52. CJ,

    What in your mind is the next step for Olint investors?

    I for one DO NOT believe that he should be given any more time.

  53. The next step for Olint investors is to cut their losses and move ahead. Do your day job, do 2 jobs, do whatever it takes to accomplish that – HUSTLE!

  54. mi writing jay, one minute

  55. Mikki. NO there is no evidence to support David Smith ever been a good trader.
    All one will have to do is go back over his brokerage accounts and see. Super Dave is a want to be trader.
    He was better at gambling, deceiving people and drinking booze till the sun came up

  56. No feedback on wealthbuilder?
    Perhaps Nationwide should check out this one as well

  57. I just re-read that email that was sent out. Have you guys notice that nothing was said about DD or wired funds. Can somebody explain to be why these two vital piece of information was not included in the email?

  58. Investors need to make an informed decision. To do that we need information.

    We need to know the true state of Olints accounts. If there is only 20 cents on the dollar or 70 cents on the dollar that is left, that’s a big difference.

    Once that has been determined, for those who wish to go forward, there should be audited statements each month so that club members can assess the progress or lack of progress over those 9 months.

    David Smith asking club members to just ‘trust me’ is inappropriate at this point.

    I do not have enough information to be able to tell if that 9 months pledge is any more realistic than the ‘end of May’ pledge I was given in January of this year. We should demand to see the books. its that simple.

    If this assurance cannot be provided, club members should go ahead and press for Olint to be would up, and pursue David Smith in a court for their remedy.

  59. Jay and CJ seeems to have it in for DS…..thre is an old saying, “never write off a Teflon Don”……this is shaping up to be an intresting year.

  60. Because there was no wired funds, and there was no DD. Obviously those documents he provided the big investors a few weeks back was either made up or incomplete.

  61. Jason;

    As much as I can understand your need to be right and therefore see a bad outcome for Olint.

    For most of us this is not an abstract issue. There are real people, with real lives here being ruined.

  62. I would have prefered to be wrong. I only say the above so people dont expect to give this clown 9 months. As I said no evidence to dupport any ability to trade

  63. *support

  64. you all realize nationwide get alot of info here………..yall names were mentioned lol its good to see this blog get so far so quick

  65. Question ?

    What do you think was Olint doing since Dec 2006?

  66. Jay;

    I understand your point, and you may be right, but you are going to lead, then you have to understand the mentality of the Jamaican people. We are very passive.

    I tried to organize club members so that we could discuss a strategy and for the whole week, when things looked the bleakest, we only had 5 responses to the email address, and most of the 5 were non-Jamaicans. We not gwine organize and protect ourselves, we just gwine siddung and hope fah de best.

    We don’t always make logical and rational decisions.

    It would be illogical and irrational to blindly trust David Smith at this point, but we will. That is how we are.

  67. *** Correction ***
    Jay;

    I understand your point, and you may be right, but if you are going to lead, then you have to understand the mentality of the Jamaican people. We are very passive.

    I tried to organize club members into geographical groups so that we could discuss a strategy and for the whole week, when things looked the bleakest, we only had 5 responses to the email address, and most of the 5 were non-Jamaicans. We not gwine organize and protect ourselves, we just gwine siddung and hope fah de best.

    We don’t always make logical and rational decisions.

    It would be illogical and irrational to blindly trust David Smith at this point, but we will. That is how we are.

  68. Lawsuits in Jamaica do not go well. even person who win against JUTC have to get bailiff to repo the bus for JUTC to even think of giving money, this was after an accident over 3 year.

    Lawsuits will take forever to get a dime ( if you are lucky).

    best bet, let him trade… this is very slim , but it is still better than putting your faith in Lawyers

  69. Collecting huge sums of money. Dispersing very little. Shuffling the rest around from one bank to another. Spending it on chartered flights, casinos and Nikki Beach parties with all expenses paid for the bands and vip guests. Buying expensive cars, jewelry and other status symbols.

    Can also safely assume that he did not successfully trade it in the ForEx market.

    UGLY – just plain UGLY.

  70. I am happy to report that Janice is a new investor in my unicorn farming business and thus does not have any time to be on any blogs with you bad mind people that are fighting against Olint.

    She and I are off to bigger and better things as we aim to completely take over the racing circuit in Jamaica with our super fast unicorns.

  71. Jay, how could I forget? – OLINT has just LIED, LIED AND LIED AGAIN.
    That’s the thing with a lie. It can never stand on it’s own…..What a tangled web we weave when we try to deceive!!! O! Mr. Smith. What have you done?!

  72. Some of the jeering going on here is pretty UGLY too.

  73. Trust DS with what CJ? I am still not clear on the 9 months argument. Does this mean there are actually funds there that he wants to use? Does this mean there are funds he has chosen not to release? I hope his attorneys shed some light in the next days.

  74. kullcull, better you use what little money you have and trade it yourself. I suspect you’ll be able to keep track of it better. The result will be the same too I’m afraid.
    DS and co. have lost ALL credibility. Lord Anthony nor the good Lord above can help him now. He has made his bed and he will have to “lie” in it and all of us blithering dingbats too.

  75. From RJR News

    Friday, 18 July 2008

    Determined to close the accounts of embattled alternative investment scheme Olint the National Commercial Bank (NCB) is taking its legal fight with Olint to the UK-based Privy Council.

    On Friday NCB gave notice that it was going to the Privy Council after the local Appeal Court granted the investment club an injunction blocking the bank from closing its accounts.

    Since late last year, the National Commercial Bank, one of the country’s biggest banks, has been seeking to close the accounts of the multi-billion dollar accounts of OLINT.

    NCB has consistently maintained that it is following the cue of the Financial Services Commission which ordered a cease and desist order on the foreign exchange trader some months ago.

    The bank says OLINT is unregulated and this could affect operations and its relationship with the Bank of Jamaica and financial institutions in the United States.

    But Friday the Appeal Court leaned away from NCB and ordered an injunction blocking the closure of the accounts.

    This is welcome news for the investment club which has been confronted by mounting problems in recent weeks.

    The panel of judges, led by president of the Court of Appeal, Justice Seymour Panton granted the injunction and ordered a speedy trial of the lawsuit filed by Olint against NCB.

    In his comments, Justice Panton said he was allowing the injunction because there are serious issues to be tried in the lawsuit filed by Olint.

    In his biting commentary, Justice Panton said he is concerned that banks have the power to close accounts of clients when there is no evidence of illegal transactions taking place.

    The Court of Appeal President added that the argument raised by Olint of an alleged conspiracy among the banks to destroy the scheme is also of serious concern and should be ventilated in court.

    Following the ruling, NCB’s lawyers applied to the panel of judges for direction on the handling of Olint’s accounts based on news that those in the Turks and Caicos Islands have been frozen.

    However, Olint’s lawyers strongly objected to this application, claiming that NCB was acting on rumours.

    The panel of judges then dismissed the application.

    Attorney at law for NCB Dave Garcia said the bank is disappointed with the ruling.

    (c) RJR News 2008

  76. how is a man who is under investigation for money laundering going to be able to go on a trading platform and trade?
    THAT MAKES NO SENSE

  77. Mikki,
    There are funds – maybe not the paper kind but assets that can be liquidated – homes, cars, jewelry, a plane – should be worth something. Good thing they are frozen.

  78. Mikki, read my post again. I am saying that we CANNOT trust David Smith, he has to show us the books going forward.

  79. Chimp,
    Thanks for clarifying – those assets are a drop in the bucket in the big picture and at the rate O is going, it’s going to get eaten up by attorneys.

  80. CJ,

    I know you are trying man.
    I myself had made quiet a number of post outlining what in my opinion were some options of Olint investors.

    Most people were so hooked up on the “email” that they either did not read, or said I was changing the subject.

    Right now ” is everyman for himself”.

    Jamaicans are the hardest group to organize, why you think our tribal politics continues even to this day ?

    Good luck anyway.

    I think you and the other should file fraud charges with the local fraud squad.
    Get a court order to have a receiver take over Olint operations.

    Now this can be expensive as seen in the CashPlus case but in my mind I think this is the best way forward.

    Giving DS 9 months more is suicidal !!

    What he is planning to have a baby?

  81. CJ,
    I don’t know about “going forward”. Show us books like how he sent monthly statements and updated accounts online? How can anything presented by DS be verified? Setting up a permanent audit?

  82. The problem with any legal action by members is, it’s like spending good money to recover bad … some type of investigation needs to occur to publicly establish what is actually available for recovery.

  83. Guys if you have not yet read the timely article ” What happens to the money in a Ponzi Scheme”
    https://investforlife.wordpress.com/2008/07/18/what-happens-to-the-money-in-a-ponzi-scheme/
    There is not much money left when a ponzi scheme crashes. The best you can hope for is to get lawyers to go after DS’s assets so that he does not continue to live like a king while he has pauperized and messed up so many persons dreams. And hope one of the jurisdictions sends him to jail.

    I made a post that the fallout will be limited. There is and will be a lot of individual pain but the overall fallout on the economy will be limited. This is because in a ponzi scheme most of the money went back to investors… just different investors…. most of the money already went back to the economy. Further the fallout has already being going on for 7 months. Also remember a ponzi scheme does not create new wealth, it just redistributes it. The wealth people thought they had was not real.

  84. Mikki, you’re right – a drop in the bucket is right. Best to follow Jay’s advice. Get your own lawyer. Every man for himself!

  85. david does not own a plane, it was leased. so inni can forget about that

  86. Nocotec, I was much happier when I was not really rich and in denial, when I waited until the end of each month to hear what gains I had made. Now I can’t sleep, I can’t eat and I’m just down right miserable. It’s true, Ignorance is Bliss.
    Reality is Harsh and it was Too Good to be True. Bye Folks, the ride was a rough one. Best wishes and warmest regards to everyone. You’ve been great and it was so good to have a place to go to – to finally get the truth. Now, could someone please tell me it was just a sick b-c joke?

  87. foryoureyesonly – you mean he lied about that too – I can’t believe it! It’s simply not true!

  88. Some words of wisdom from our wise friend OFL:

    Olint-for-life Says:
    July 18, 2008 at 9:41 pm

    Guys

    I am shocked and disappointed to say the least but not because of David’s ability to trade.
    I spoke to a trusted staff member a while ago to get an explanation for what might have gone so terribly wrong with the accountng system. They confirmed essentially what David said.

    Apparently, they have been working hard to correct errors in the system (IT), wherein persons were credited with too much gains and who subsequently closed their accounts. The IT errors were complex, were not corrected quickly enough, and with the run on the system for withdrawals, the problems were compounded; and you know the rest.

    The percentage gains were real, but it was the IT errors in computing the gains that was the problem resulting in an over-calculation.

    Guys, some of the things I heard I won’t repeat it here, but I will tell you this much, the system of internal controls were poor, and this is a revelation to me.

    Nevertheless, I understand that the staff (I can’t speak for everyone) repose total confidence in David and his integrity, in his ability to trade, and have no problem continuing with him, based on his request. David was not running a Ponzi scheme as others have stated elsewhere.

    I have thought long and hard in terms of where we go from here. If we are to vote for a continuation of the Club, then we definitely have to join in the call for transparency. It is the only way that we can know for sure what is going on, in terms of how monthly percentage gains translate to gains posted to members account. Also, for us to be advised on the monthly status of the Club’s asset and cash balances (in account and in trade) versus the Club’s liability to members and other creditors.

    If I, and I am sure you also, are satisfied that these checks and balances are to be put in place to the satisfaction of members, then I would vote YES to give David the 9 months he is requesting. Reason, the alternative of closing down the club may not be in everyone’s interest.

    Olint-for-life

  89. So I guess the next step for Olint is to ask its “investors” to tell Olint how much money they had “invested” with them and how much they have received in payments to date ala WorldWise.

  90. OFL – I was about to leave this forum but please… yes DS is charismatic, warm hearted and his intentions were good but the other cliche I left out was – GOOD INTENTIONS AREN’T GOOD ENOUGH. Apart from that he has lost all credibility and without credibility you are nothing. A man is only as good as his word. Without that he is nothing. He has had years to come clean and did not. A little too late is what he is – in true yahd form. If there was money – then we would have all gotten it by now but there has been little more than a trickle and like Mikki said – a drop in the bucket. You have to accept it and act accordingly – to do anything less is suicidal. If I am going to pray for anyone it’s for his supporters. I pray God they wake up and face the HARSH REALITY – IT DUN! MONEY NO DEH DEH. WE’RE AT THE END OF THE ROAD.

  91. *** Breaking News ***
    Olint-For-Life calls for transparency in Olint on the # 4 bus

  92. CJ – Thanks for the humor. Like I said, if we don’t laugh, we a go cry!!!

  93. Wait a minute!!! Are these the same god fearing, bible toting, praying Christians that are on this and other blogs that got more money than they deserve and did not return the funds? Can’t be!

    Again, we need ALL Olinters that got back more than they put in to give back the excess so that people that are in a negative position can at least get back what they put in.

    What say all?

    I made this same suggestion to our great friend Janice, you know, the RICH one, but she disappeared immediately not to be heard from again. I bet she will not show her face on this blog again, thinking we could trace her down from her IP address. Janice, if you are reading this blog, please send in the OVERAGE ,,,, please? …… thanks in advance!

  94. DaveSin, with all that money and the fact that it was not a ponzi, (the returns where real) the least they could a do is buy quickbook pro for the accounting LOL… I will wait the 9 months ahaha like I have a choice….

  95. Olint for life reminds me of that silly Iraqi information minister. When the U.S troops were in Baghdad taking over the city he was still telling tales how Saddams forces are winning.
    I hope Olint for Life never stops posting, I find his postings top notch comedy

  96. Majid:

    You still have to have Brains/Accounting knowledge to use quick books pro? Garbage in garbage out still holds.

    That’s what happens when you hire your friends and family to help you run a business and disregard competency!

  97. what the he** is the #4 bus?

  98. Again, DS is trying to use timelines to buy him time. Many a timeline has been set and many a timeline has been broken. I want to point out that a lie of omission is a LIE. So if DS knew that something was wrong with the accounts in the club and continued to “trade” without telling the club members then he committed a lie of omission. He told his staff at Olint’s office in Jamaica to spread this same lies of omission:”You will get your encashment by july” but what he omitted is that his transactions were creating “red flags”.

    People, stop allowing DS and his people to continue to tell lies. We need his fianancial documentation within a month. DS is living in a DreamWorld, does he really think that Olint will survive this current run? His company has now come to an end, no one would be so stupid to give or to keep their money with a LIAR.

    LIAR,LIAR, PANTS ON FIRE! LIES I TELL YOU, IT IS ALL LIES

  99. “DaveSin, with all that money and the fact that it was not a ponzi”

    I have little doubt at this point that its a ponzi, and I’m amazed that some people still believe DS, but then again, people kept believing the world was flat when they discovered it was round….

  100. DaveSin, “That’s what happens when you hire your friends and family to help you run a business and disregard competency!” DAVESIN, WE FINALLY AGREE ON SOMETHING, OMG, wait wait I gone outside to look if pigs flying… One white’s fi mi breddrin…

  101. OH and this part as well “You still have to have Brains/Accounting knowledge to use quick books pro? Garbage in garbage out still holds. “

  102. LOL Jay

  103. I mean Jason

  104. The #4 bus is the other Olint Blog that kick off (ban for life) most of the detractors you see here on this blog. It is run by a short, insecure and insignificant person by the name of Kevin. If you do visit, you cannot post a single negative item about Olint, otherwise you will be back here without hesitation. Basically, it’s a “group” think site, with a bunch of elitist bloggers! They all come to this site for relevant information about their own club/investments.

    They are here:

    http://invest4life.wordpress.com/investment-clubs-2/

  105. Have they all committed mass suicide over on that other blog? It is so quiet over there. All I hear are crickets.

  106. Thanks DaveSin.

  107. Man although plenty olint supporters hated this blog, mi di (only olint suhportah left), really enjoyed reading the opinions of all posters… (whem mi could keep up) I hope this blog continues to be as lively as it is now. Mi wi continue to try keep up wid deh breakin news and post when time permits… Divah tank you fi not blocking mi. A round a white’s fi everybody… 🙂 Mi still a DS suhportah till deh end… LOL

    One stop Drivah…

  108. *** Developing Story ***

    Floridian on the # 4 bus wants to know ‘THE TRUTH’.

    Stay tuned, more to follow.

  109. Johnny P..

    Lol…I have not seen that clip in years… That folks is our friend Olint for Life

  110. Dave Sin, he booted me because I said that he should post guidelines, rather than just deleting posts that did not meet some arbitrary standard which only he knows.

    I was banned for life by Kevin Mugabe. :-O

  111. Here’s an idea,if he wants 3 months to get his accounts straight and then 6 to get the money back to “commitments”,then him must have at least half the money?So DS hear what you do…just gimme back half of my money and make me sort out some bills,cuz guess what if me to wait 9 months them a go forclose pon all me clothes,shoes and utensils…house and car a go within days muchless 9 months.I did have DS as a big trader but right now i wouldnt even make him trade baseball cards…

  112. I think we all agree DS is a Crock!

    Where did he get the money to send JM 50MIL?
    Why did he send JM 50MIL?
    WHy nobody dont care about this?

    “However, approximately $50
    million of the funds which Olint and TCI withdrew were sent to JIJ Investments
    (“JlJ”).

    I hope it wasnt club member funds!

    Maybe cliff cyah help weh out with this one?

  113. The word conscientious as defined by Webster dictionary: “Influenced by conscience; governed by a strict regard to the dictates of conscience, or by the known or supposed rules of right and wrong”. Now since DS is stating that he knows the difference between Right and Wrong then what has he done Right in the past 6 months.

    People, we need to get the audited statements so that we can determine if DS is Liar, a theif or maybe he will be vindicated (who knows?)

  114. I’ve been reading all of your posts (CJ, jay, Jason, et al) for a while now. With all do respect, I am amazed at the fact that a guy like me here in the middle of the US has more reliable information than you people, and it is quiet evident to me that most everyone on this blog are just talking out of there back sides, and with all the nasty smells that goes with it.

    You have no idea what you are talking about. Ponzi….no money……yada yada yada. What facts or witnesses can you produce that validate what you think you see, from your little fish bowl, as being true and correct. How can you live your lives in such negativity. Try to look at things unbiasly for awhile. When you write your first sentence, you appear to be intelligent. Until you get to your second sentence, and then you spoil the effect.

    Suddenly the JA government is honest and upstanding and dearly loved in the minds and hearts of the JA people and yourselves. That they would NEVER tamper with the records of David Smith after they confiscated his computer. Oh.. no, they would never maybe mess the filing system up a bit. Put the ol boys accounting records into a bit of a sticky wickit if he intends to continues with Olint, so that he could never be able to redeem himself, recover himself in the event of another investigation, or even be able to position his company into a place of transparency without public/government condemnation.

    I have been reading the Gleaner for years now in regards to this case, and in my opinion, they are severly lacking in honest non- prejudice reporting. There new is more like party news from a communist country in my opinion. Please try to engage brain first before running mouth. I refuse to bend down to your level and respond in defense of Olint and David, it would be unintelegent. As they say in Texas, ” You boys are all hat, and no cattle”. My first and final response.

  115. Jason, DaveSin, and others

    I said after the pact, that if no funds are paid within 3 weeks to July 25, I would issue a public apology to you all.

    Even though the date has not arrived, but seeing that it is most likely that no payments will be made, let me say publicly:

    MY APOLOGIES TO YOU ALL.

    However, it isn’t over in the strictest sense of the word.

    PS: Good joke about that Iraqi Information Minister(LOL).

    Olint-for-life

  116. Welome back Olint-for-life 🙂

    However, your apology is a Phyrric victory – we all still in the same sinking boat 😦

  117. Jason, DaveSin, and others

    So I went out for a Friday night Cognac and a liitle boogie and the detractors manage to bring down the last UFO?

    How uno mean to do that without me?

  118. OFL, respect rasta. We all in this together now.

  119. Welcome back OFL.

  120. Floridian

    Ask di Drivah if mi can get a free ride pon di krissas.

  121. buss stop driver………bless up for all the good readings and convos….OFL VS the world…..den hermes vs Jay Davesin and others…fun ride still….den bus get well pack up…erybody from all over jamaica and world come for ride….was good…info…entertainment and comedy…haha.

  122. Well folks like I told you the other night If you cant get a hold of your broker and your fund manager is ducking you 9out of 10 ,you and your hard earned cash have departed. To those of you who are concerned about what happened and where do you go from here.

    I never met DS but the man was like an Idol to me heard a lot about him in the FX community,but when I got to know more about his FX operation I begain to wonder about this legendary guy. No respectable trader trading on that level will be doing it on a retail platform like Oanda and FX solution, those are consider bucket shops operations for retail traders under 50k in their accounts. The pip spread alone on a trade is a killer to your account, second those little shops can go under anytime, Unless you had an insurance policy for your fund in their account with Loyds Of London you are out of gas. Just ask the Refco account holders. Your next issue with those retail platforms ,Liquidity is always an issue.

    What I believed happened is SD took some serious draw drown this year like everybody but panic. Lets hope he had enough sense to limit out once his fund reach 50% draw down. At that stage you are supposed to stop trading and liquidate the Fund. My advice to anybody who have funds in this guy hand do your best to cut your losses, get what you can and move on.

    Forget the promise of give me a few month I will recoup. First and foremost no one can trade under that kind of pressure, second the market conditions are terrible and it will be like that until this financial crisis hitting all these institutions is over, and all the writedowns are over , that could be until next year so go figure , how SD can pull it off when you cant clearly read the market.

    The number one rule of the game is when in doubt stay out of the market. Just a trader’s thought

  123. Johny P – Thank you for the best laugh this week (crickets). I needed it. (formally posting as sc)

  124. 0.786Trader – now is the time for major gains in the market with all the volatility. I guess as a .786 trader you are looking for your 1.27 D Extension. This could take an entire thread filled with opinions on that but suffice it to say, you are not alone in the market nor does it move according to the world of JM.

  125. ok…so i finally found the #4 bus and read thru the posts there.

    What a bunch of crazies!! Most of them sound delusional. All swamped by a desire to believe David. Do they know that David is said to have left JMMB under a cloud about ethics and propriety??? Which is why Donna Duncan was cryptic about the reasons behind the separation in her interview in the paper denying a number of things about DS??? Christ, man….wake up!!

  126. 0.786Trader break your posts into paragraphs, it is hard to read without paragraphs. You are being kind to believe DS was doing any actual trading. It was a straight ponzi scheme.

  127. Investforlife went past 200,000 hits last night… the hits just keep on coming 🙂 Forward march…

    Thank you for starting this blog investforlife and for all your hard work. It goes to show if you publish facts even the people that disagree with you will come too… Thank you too Patricia/Kevin for kicking us of your 4 blog. This site has been here to provide timely and factual information to Jamaicans and others in part because of your stupidity.

  128. Investforlife, Hats off over 200,000 hits.

    Kevin, bigup and thanks for kicking us off your bus, I was upset initially but right now I am happy you did.

    I see that you have a new bus , the #5 bus, but it does not appear to be moving. 🙂

  129. Dave,

    I agree with you that all those christian minded Olinters who received more money than there were entitled to should return the money forthwith.

    This should be done in order to ease the suffering and pain caused to those who came in late and now face the reality that they may not get back a red cent.

    Be your brothers keeper and do the right thing.

    For those who refuse, I hope the auditors having combed through the records will be able to identify those persons, and have a court order issued , to have the “overage” returned.

  130. Should have been …
    This site has been here to provide timely and factual information to Jamaicans and others in part because of your stupidity.

  131. It is interesting to note that the last post I made on the #4 blog before being banned was to advise MayDaisy investors that with the Zambian authorities freezing US $7 million of money sent by Ingrid Loiten, MD investors should seek lawyers to lay claim to those funds. With what has happened since, in retrospect the advice does seem to have been spot on.

    For those bloggers that are new to my posts, materially I am generally spot on in posts. I was reading before I had any formal schooling and have not stopped since. I have collected oodles of info since then. Here is a secret I learned years ago… The secret to being right most every time is not to be like most people… reserve your comments for only those things you have knowledge or information about or you are sure about. This way you will be right just about every time while in reality there are many things that you still do not know.

    If you have had money safely under your mattress for the last 20 years and one day I tell you that are going to lose it if you keep it there… I would suggest you move it…. I will not tell you anything like that unless I have information… I would have overhead the plan to steal it or to burn your house…

    It is a real simple secret to appearing smart… in life, speak only on the items you are knowledgeable about… you will appear to be smart and be considered an expert. Speak on topics you have little or no knowledge about and you will always appear like a fool.

  132. My sympathies to the Olint investors.
    Lesson learned: Think and check before you invest.

    Running a financial institution is not an easy thing. You have to have certain checks and balances in place to ensure the integrity of you operation. If you are taking people’s money, you have to show them that you are capable safeguarding their interests.

    Olint grew too big too fast and proper mechanisms were not put in place to handle the growth. I really do think they had good intentions, but good intentions alone do not make good business.

    Big lesson learned for investors. Investments must be made after careful consideration of the fact, risks and all the variables. You cannot just go based on personalities and reputation.

    And yes, those who got more than they should have should really do the right thing and return the excess so others can get some relief.

  133. A note: Folks be careful… it is my understanding that one or more of these “clubs” have recently been contacting folks asking them to send (invest) money. Be smart. See what has now been revealed and find something else to do with your money.

  134. I wonder if Mark Wignall will write an article on this one.

  135. This is for Floridian and others on the other bus to ponder ( also people here). how to divide the money ?

    What about this scenario

    man invests 1 million in Jan 2006

    he withdraws 1 .5 million by December 2006.. he still has 1.5 million left in the fund

    he invests 0.5 million on Jan 2007 for piggybackers.

    the fund crash

    Technically he has got back his money. because the total he has put in is 1.5M and he withdraws 1.5 Mill.

    The piglets have gotten zero… and should then expect zero .

    So essentially a lot of piglets will get zero, because the pig may have withdrawn the principal in the early days.

    even if it nuh guh so, the pigs can use that line of argument to keep whatever they get back.

    trust will now break down between pigs and piglets

    dividing up money is a killer for friendships !!!

  136. Floridian on the # 4 bus, you are right . I can’t respond to your post there because I have been banned for life.

    We all in this together, that’s why it’s a shame that we can’t all come together to plan a strategy on the way forward or out.

    It’s a pity that due to the actions of your ‘driva’, we have to be split into two tribes, when we both have the same overriding common interest. This kind of tribal approach to everything is one of the main reasons why Jamaica can’t prosper. We don’t understand the value of unity and it’s due to people like your driva who has allowed others to use the divide and conquer strategy against us with devastating effect.

    Wouldn’t Kevin’s blog be much better today if he had found a way to accommodate all points of view on the same blog rather than arbitrarily banning people for life? And in the same way this blog would be much stronger if we had people like RedP, Leaving Babylon, De Hustle, Patricia and yourself on this blog. The fact that we each monitor the ‘enemy’ blog is proof that we both concede that the other blog has some value.

    Say what you want about the bias of the creators of this blog, (and its obvious that they DO have an agenda) but in the true spirit of the Internet, this blog tolerates all points of view.

    We would be much more effective in our quest to determine the next steps if we could UNITE. That should be the first step because we all have the SAME interests and goals.

  137. Last night’s statement said “Its appeal against FSC, relating to the validity of the cease and desist order, is pending before the Court of Appeal and will be vigorously pursued, and an early date is being sought”.

    This is how these guys distort the facts. An innocent or busy person reading that statement would not understand that the appeal against the validity of the cease and desist order was heard over a year ago and an independent judge decided that it was valid. It is the judge’s decision that is being appealed now, not the FSC’s. That, believe it or not, is a very big difference. Don’t blame DS lawyers, that is what they are supposed to do. But you have to be very careful about everything that they say.

  138. Olint has asked for 9 months and some supporter unbelievably wants to give him this additional time, to do what.

    What can he possibly do in 9 mths that he did not do since Dec 2006.
    How can he trade with an axe over his head, its just not possible.

    Again those supporters have failed to ask critical questions.

    1. How much money does Olint have left to trade.

    2. Will Olint be taking additional deposit to allow them to trade.

    3. Who is going to verfiy the Olint balances as at this point in time.

    4.Who will verfiy his trades, account balances during the next mths.

    5. Will he be presenting audited statement during this time.

    6.Will encashments be honoured during this period of time.

    7. Will there be a new contract of will the last contract be still applicable.

    8.Will there be a managment team in place.

    9. Will there be a proper accounting team in place.

    10. Who will the traders be and what is their track record.

    11. What will the “new” management structure look like.

    12. What will they do different this time around.

    These are just some of the questions that I would ask before even considering if this guys should be given more time

  139. I was still posting on the “Email Real or Fake Thread” when Cliff was reporting. I made comments all the way through.

    Nobody couldn’t tell me say unno was over here so?

    See my comments yesterday!

    Jay, I was there. Why didn’t alert to this new thread started?

    BTW, Cliff gave me a specific shoutout where he said “Truth, I hear you. I hear you. We did check out our source”.

    Later on he read my email response on the air:
    ————————————————–
    #
    Truth, on July 18th, 2008 at 6:13 pm Said:

    I agree that the lawyers remarks bear some resemblance to the email.

    My point was that we needed to ask the question.

    Cliff got of the hook from having to prove it because DS addressed it first, howbeit in an indirect way.

    I hope all of you still understand that we must still never relinquish our duty as citizens to not only question our politicians but our press as well. This was never in doubt as a principle.

    I hope it is also recognized that DS did the right thing by essentially signaling that the email was correct at least in some of it contents.
    ————————————————————–

    Cliff then said: ” Truth, I agree that you should have asked the question. I agree with you. I did check my source and was prepared to prove it today”.

    Or something to that effect he said.

  140. Jay, I agree with your list of questions!

  141. Last night’s statement also said “However, as a result of the pressures and hostile actions mentioned above, Olint has been unable to deal expeditiously with its accounting problems. Time is needed to conduct a full audit of members’ accounts and balances.”

    The funny thing about this statement is that the key item that the banks have said that they can’t get from DS and Olint is their audited financials. This is the same information that the FSC says Olint and DS should be giving to their investors. So now the pressure from FSC and the banks for DS and Olint to produce financial statements is the reason why DS and Olint are “unable to deal expeditiously” with preparing the accounts?

    This is incredible! Could only be produced by a lawyer ignorant of financial matters and a conman confident that his marks will suck it up (why not? They’ve already bought the con).

  142. I agree with CJ’s point about unity!
    I have been saying as much in one form or the other for some time now!

  143. Bob, are you a lawyer?

  144. I don’t know why Mark Wignal didn’t want to write anything negative about Olint. I am sure that it is not too hard to guess why he would not want to say anything which might cause a run on Olint. (conflict of interest 😉 ).

    He was supplied with a lot of information on Olint he could have used to ask some probing questions and choose to ignore them.

    Had Mark Wignal made the effort, he could have had the same effect that Cliff Hughes had some four months ago which might have made the truth known earlier and would have led some investors to mitigate their losses earlier. Instead he choose to remain silent, the charade continued, and some investors continued to make bad decisions which will now only make their situation worse.

    Thanks Mark, it’s good to know that Jamaica premier investigative journalist was there for us. Oh I guess Cliff Hughes has stolen that title, sorry.

    Big up Cliff Hughes my former head boy.

  145. Investforlife, did you audio record all of cliff’s show last night, including the reading of posts from this blog? if so could you post that as well?

    Thanks!

  146. PLEASE READ AND RESPOND TO THIS BLOG>

    I asked this question earlier and nobody seemed to address it.

    How can someone who is under a Money Laudering investigation think that any trading platform is going to allow him to trade currecies?

    What Olint needs to do is pay out their clients whatever they can on the dollar, so that everyone can move on.
    This however is impossible, since as far as I am concerned their is no money.

    DS has been telling us lies from the start. and even yesterday in the release he lies.
    He says that the problem started when the FSC seized his files, and he overpaid interest on accounts LIES

    How can you pay interest out to people, when you have no files to know who your clients are or their stakes?

    Imagine this problem has been ongoing from 2006, yet he is jetting all over the world, going on cruises, sponsoring and profiling at the Jazz festival, at every WI cricket match. Living at Quad, Accropolis and every gogo club.

    They claim that he is a christian. That is the biggest joke. We see him all over the clubs and gogo bars, who has ever seen or heard of him in church?

    Now if he had identified from as far back as 2006 that he had a problem, why then did he not address it, stop the excessive spending, gambling, whoring and settle down and trade himself out of the problem from back then?

    He could even had come to the clubmembers then and reported a big hit, and paid back funds at a loss.

    Instead he takes peoples money and continues the lie.

    David WAS a good guy, and based on this many ppl including myself vounched for his honesty. Instead he used this trust to rob people of their cash and further the high life.

    Even at the end of days, he comes on air and refutes the email causing further controversy

    I dont know about you guys, but whereever he has to find it, I am going to have to get back my money, and I am not going to waste time with lawsuits that take forever. NO SAH.

    This is the reason why you should never give a man who is used to $1000.00 an Million, cause they are not used to those sums, and think that it is theirs to spend.
    I used to be sorry for the guy, cause i know him personally, but after all the continuos lies that he has told and continue to tell, I hope that he goes through so much pressure and legal woes, that is his left totally broke and broken living on the streets of New Kingston where everyone can see him and laugh at the fool.

    It is not us the clubmembers who are fools, it is David Smith. This man had the trust of people who would just run to him and give him their money. He had celebrity status in Jamaica. All that he had to do was stick to the program,and he would have been the most celebrated person in Jamaicas history, yes bigger than Bob, but no because of ego, it all got to his head. People would not be angry with David if he had lost their money trading, that is the risk.

    They are angry because he betrayed their trust.
    So why should we trust him now?

  147. Nocotec, has gotten some things wrong along the way which was proven in debate with other bloggers. So, nocotec, I think you should acknowledge that we all have areas to grow in and improve on and become sharper, including you!

  148. There is no way that a one month break in your records can “dislocate your accounting system”. At most, you could claim that it created a gap in your accounting records that was not filled until a month later. But even this only makes sense if you believe that DS didn’t have advance notice of the FSC raid and was able to remove key information ahead of the raid. Did he have advance notice?

    Anyway, that was over two years ago! In finance (particularly fx trading) and dog years, that is like blaming events in the 1990s for your predicament today.

    CJ – sorry to comment so long past your post:

    You’ll be lucky indeed if you see anything like 20c on the dollar. I know you know this and your remark was meant as a “for example”, but still it is worth saying.

  149. Bob, clearly there is more here than accounting incompetence, look at the key difference between the email which Cliff Hughes read and the statement which was released yesterday.

    The overstating of gains which in the context in which it was described in Wednesday’s email would be a criminal offense in almost any jurisdiction was not mentioned yesterday.

    Clearly his lawyers would not want for him to admit to criminal conduct. But its hard to believe that accounting problems ALONE back when the fund was $170 M two years ago, would threaten the fund to the extent it has today. So I think that there is some truth to the overstatement of gains issue.

  150. I agree with much of the underlying sentiments of “ismyturn”‘s post

  151. Truth

    No. I know them though. I also read the decision of the judge. It’s worth reading, I think.

  152. If Internal Controls was the main issue, then no fraud was committed.

    It would be primarily a mismanagement issue

    The prob is we dont know what all has gone on inside that blackbox called Olint

  153. that email he sent is what is going to send him to prison. We have him admitting that he stole our money. Proving that it came from his email address is a simple task

  154. CJ

    About Mark Wignall. Go back much further (2006) to see where he took us all the wrong way. It was too much fun beating up on the financial troglodytes at the FSC who just didn’t “get it”. Or was he paid in O-zone dollars?

  155. Following up on Robin Irie (7 26 am) and CJ (7 56 am) –

    In my humble opinion, Wignall should do the honourable thing and comment on the turn of events with respect to Olint….(i guess we will see in Sunday’s observer)

    I invite all to look back on what I believe is his last article on the matter:

    http://www.jamaicaobserver.com/columns/html/20070203T160000-0500_118708_OBS_SUPPORT_FOR_OLINT_GROWING_.asp

    I read it at the time, however I paid little attention due to the fact that my position has always been to not support these alternative investment schemes. I just re-read it…and in retrospect…I would have to say, Wignall really deserves an F. There are several comments for which there is just plain and simply NO BASIS of reason; here are three examples:

    1. “Olint is able to do this because David Smith is good at what he does and is rated as one of the best Fx traders in the world.”

    is that so….in the world..? rated by whom I wonder? some independent FX trading world body?

    2. “If there was anything rotten or shady in Olint, why is my e-mail inbox filled with so many transmittals singing the praises of investing in Olint?”

    …..pretty naive….

    3. “The other investment houses that are Fx traders have been making mad money but have only been paying paltry interest to their investors while they mount up super profits.”

    …speculative…where is the proof?

    4. “At that time, 70 per cent of its club members withdrew their money and not one person suffered a loss.”

    ….as clearly pointed out within this blog….such a comment is misleading and has NEVER been validated

    Now I am not here to bash Mr. Wignall….I believe he should do the right thing and provide new commentary, simply stating that like many others, he drew some dubious conclusions at best…I do not think it would be a far stretch to say that many persons (who may have been skeptical at the time about OLINT) might have become more “cool” to the prospect of investing with the club after reading such a supportive article from a respected columnist

    btw….who is “Rutte Ginpebn”?

  156. mark wignall used to cuss cash plus and big up Olint. LOL

    but Mark was also had by the character of this god fearing christian who was always drunk, hung out in gogo clubs and gambling parlours

  157. “Rutte Ginpebn = Peter Bunting

  158. Ever wondered how many delegates Mark won for Portia?

  159. itsmyturn

    I hear you loud and clear and you are justified in your dream for what should happen to DS. I am sorry to tell you that it probably will not happen that way. In all likelihood, DS will get off scot free and in five or so years he will be able to start again, maybe as an MP or something.

    Why do I say so? Those who are conned have usually made an emotional investment in the con. Naturally, they get angry when they are let down. But few people stay angry forever; hard to believe when you are feeling furious, but this is so.

    A conman therefore only needs time and then he only has to deal with (a) the few who don’t calm down (can be borderline psychotics – I’m not trying to provoke or call names here, folks) (b) the few serious business people who will have sent their lawyers and (c) the government (whether FSC, police or DPP or whoever).

    Like any good general, you divide and conquer or you cut deals, run and live to fight another day.

    I am hoping to show by this that from DS’s perspective, this is just a problem to be dealt with. He has your money to help him to do so. He knew it was coming and he is responding in more or less the “correct” way to get out of it.

    To protect yourself, you have to move from being a sheep to being allied or in one of the three groups I mentioned above. Only then will he deal with you.

  160. jd32:

    Good post about Mark Widnall. Goes to show how most Journalists in Jamaica can be conned. I won’t speculate as to the other reasons why his sentiments change, since he started out requesting transparency and then became a supported over night!

    Maybe they use to hang out at the same go-go clubs? Remeber he was a big Portia supporter and next a big Anti-Portia person.

  161. I go back to my original idea. Lets get together and explore our options.

    Send your email address, (no names at this point), and where you are, state and country, to olint_investors[[@]]yahoo[[.]]com. Remove the brackets.

    We will see how many people there are who want to do something other than just sit and hope for the best.

    If we get enough people we will organize along geographical lines and get back to you. Please do not leave any personal info. We don’t need it at this point.

  162. David Smith is now a Jamaican banker according to Forbes.

    http://www.forbes.com/feeds/ap/2008/07/18/ap5229990.html

  163. Truth, you can always go to the home page and look at the “Your Feedback” column on the right and it will give you an idea of where the current discussions are. On this blog it tends to move around.

  164. CJ

    I agree with you that there is much more than accounting problems here.

    Everyone, please remember that criminal cases don’t just pop up out of the air. For practical reasons, in financial cases there has to be a complaint from an injured person. The government side of the equation cannot be effective without complainants.

    For civil action to work on your behalf, you also need to get a lawyer, as many have already said many times on this blog.

  165. Bob in a few years some new dudes will be back in JA running some new con. Our people are very susceptible to this stuff, we love to believe in conspiracy theories. And even many of our educated believe in that stuff and or lack common sense. As I have posted anyone that exercised any common sense would have known that all of these UFOs were cons. Yet look how many wealthy, educated, professional and other people were conned. If you add up all the schemes probably 100,000 Jamaicans fell what were obvious cons.

    Trust me if I gave my 10 year niece the pertinent facts and asked her if this smelled right, she would say no. The herd mentality as represented by the # 4 blog is prevalent. We like to stick with only people of our own kind… so for example like Patricia/Kevin we drive out people who support a different party out of their homes and the neighborhood. This way idiocy reigns supreme with no one to raise a dissenting voice.

    By the way Truth: Next time you want to argue about some principle… Be smart. Be like the Republicans and other right wing dudes. Pick a choir boy who was picked on and has suffered harm and misfortune. Do not pick an obvious conman to as backdrop for your arguments. Picking a conman as the backdrop against a journalist with obvious integrity does not work.

  166. here it the contact for the company in kingston that did the IT development for OLINT, F1, LewFam etc.

    Development Consortium International

    2 Hampton Close
    Kingston 10
    KINGSTON
    Kingston
    Jamaica

    876 908-0692

    “DCI excelles at the intersection of business and IT, and is talented at the application of technologies that help businesses, governments and other organisations improve what they do now, and additionally discover new productive and profitable ways of operating.”

  167. Truth

    Why do you think DS, with his multimillion dollar financial operation with thousands of investors, fights so hard to avoid regulation? Well, in Jamaica, America, England etc (I can’t speak for TCI), they have special laws that make it harder for conmen to get away with fraud. The legal standard for ordinary fraud is very high. In the financial sector, this became a recipe for people to get ripped off by incompetent or criminal operators. So, over the years, countries with free markets developed higher standards for those who took money from the public. We copied them in Jamaica.

    Under these standards, among other things, it will be easier to convict DS of criminal conduct if he has made misleading statements or, in other words, lied to you. But if you and DS agree that what you were doing together falls outside of the financial sector (by being a “club” for instance), you don’t have a prayer because if you prove he lied to you, that’s all you have proved. Proving a lie does not prove fraud.

  168. Nocotec. I understand your point. But let me say, that the power of a principle is most strongly illustrated when it applies even in cases where the less ideal examples are involved. You see me!

    Bob,
    I hear you about the fraud vs lying point!

  169. CJ

    Thanks for providing the Forbes link. Notice it is an AP story. Sorry for real Jamaican bankers. This is going to make their lives very difficult. Irony is not a Jamaican strong suite, and least of all with bankers, but it is a cruel irony for them.

  170. 1 response for Olint said about the FSC:

    “That they would NEVER tamper with the records of David Smith after they confiscated his computer. Oh.. no, they would never maybe mess the filing system up a bit. Put the ol boys accounting records into a bit of a sticky wickit if he intends to continues with Olint, so that he could never be able to redeem himself, recover himself in the event of another investigation, or even be able to position his company into a place of transparency without public/government condemnation.”

    My God! I never knew FSC people were so good. investforlife, I am so glad for this blog so I could learn new things.

  171. But seriously, folks, did the FSC’s raid mess up DS records or did it sort them out for him? Maybe TCI police will do him the same favour. Check out the TCI policeman’s comment about “logging” every document, etc. From what I have been told, normal procedure for these kinds of things is for them to be very meticulous about the suspect’s records. Since DS and tribe have been shown to be highly chaotic, maybe this is how he prepares for his “audits”.

  172. Bob:

    That is funny…really funny. Do you think the TCI police should send him a bill for services render?

  173. Greed & recklessness

    While thousands of Jamaicans await word on the status of their investments into collapsed unregulated investment schemes, they are also being chided for failing to heed warning signs.

    http://www.radiojamaica.com/content/view/10066/52/

  174. Dave Sin

    Lol.

    The con is a great con; one of the greatest. Truly, in all of its dimensions and phases (phases past and phases yet to come). Where is the popcorn eating man? We need his take on the thing.

  175. My sense in the FSC situation was that they had his records, he never had backups, so he went ahead and paid people from missing or incomplete records.

    I don’t get that he is saying that they messed up his records.

  176. If you haven’t done so already; Do the following now.

    Login to Olint’s web site and download a statement showing all your transactions.

    Reports -> Account Activity and set the dates to include the earliest possible date to today.

    Download and save that summary to your computer.

    Also download all the news articles on the web site and save them on your computer.

    Web sites can and do vanish in an instant.

  177. No backup? People with home computers have backups! Is that verified CJ?

  178. 9 months for accounting? what is he using pen and paper and his fingers?!! That’s just another way of saying “i lost plenty money and i need to make it back”

  179. If you haven’t done so already; Do the following now.

    Go to Olint’s web site and download a statement summary showing all your transactions.

    Remember Olint has not sent out statements since February.

    Reports -> Account Activity and set the dates to include the earliest possible date to today.

    Download and save that summary to your computer.

    Also download all the news articles on the web site and save them on your computer.

    Web sites can and do vanish in an instant.

  180. Rabbit Says:

    “We can also implement your idea – setting up a private blog. Discussions would not be accessible to the general public. You would need to scan and email your O or hog statement plus your Drivers license to be granted access. ”

    Cashplusfamilynetwork again

  181. On the # 4 bus, now apparently God was trying to teach David Smith a lesson, by cutting him down to size.

    And the way God chose to go about this was to ruin the lives of thousands of innocent people. Right! LOL

    God in his vast wisdom could not find a better way to teach David Smith a lesson?

  182. Yeah, I am going to send my drivers license to somebody named Rabbit.

  183. Questian for the people in the prayer meeting.

    What is the difference between gambling and fx trading?

  184. Hope everyone read “Reflections by ‘Leminotep Jr’”, Check it out
    https://investforlife.wordpress.com/2008/07/19/reflections-by-leminotep-jr/

  185. Question.

    In Response to OFL interview of alleged staff member.Why hasn’t the Man himself DS made this statement to the ones who are important the club members the ones who are paying him as well as his staff members.I am still not buying it.

  186. DS may have been dishonest,
    we all don’t know for sure; at least he has the skill of trading and can still utilise it; Why not just stop the judging and the bashing and surrender the stiuation to Christ?
    If we continue being judgemental, we are as bad as the banks and financial entities that don’t want to give us a chance in these harsh economic times. We are all human, man, stop the bashing. if you are without sin, cast the first stone, chu. Look at the state of the country, be your brother’s keeper.

  187. usfx

    Questian for the people in the prayer meeting.

    What is the difference between gambling and fx trading?

    care to answer?

  188. CJ:

    If the data is still available for Club members, that would indicate that investor’s information is residing on some public server somewhere, as oppose to a server at DS’s office. Am I right?

  189. usfx

    Most here are commenting on the facts that are presented.I for one believe in prayer.But god blessed you with a brain to reason and think.

    Some of us have that ability while others seem to be run on emotion alone.USE YOUR GOD GIVEN BRAIN AND ANALYSE AND ARGUE ON THE FACTS AS PRESENTED until that changes.

  190. Robin Irie:

    There is no difference between FX Trading and Gambling. In fact, people seem to think that it is a precise science, given all these software proprietary programs that these sellers promote.

    Frankly, the whole FX trading phenomena is more destructive as far of the stability of currencies around the world. It’s a speculative endeavor that I believe can undermine people’s economy. If you look at what is going on with oil prices worldwide, where without speculative trading, the price a barrel of oil would probably be around $20 – $30.

    Trading currencies does not create a product or deliver a service; it’s basically shifting money around, where a “few” benefit and the majority losses. In the long run, countries (like the US) can suffer irreparable harm from these speculative vehicles.

    I’m curious as to what other people think about this subject matter.

  191. DaeveSin

    I agree with all that. I was just baiting them for the next question that would have been:

    Why would a just God answer you prayer and not that of the man betting against you?

  192. Ricky Azan made the same promise to his investors. I am sure that since that time, he has not paid back one investor yet.

    The original email said he overstated interest so that people would not pull money ..i.e. he lost money

    Why leave that out of the release, and blame the accountants ?

    the main issue is what happen to the money.

    Answer, he lost it. seems like there is 50 million left.

    now in making a claim for the 50 million via lawyers, one will have to open their books to the TAX people. thus you would be held liable for the tax that you do not pay on the interest already gained. how many fat pigs would do that ?.

    the money gone. give him nine months or 5 years.. that is still better than paying lawyers and accountants who will get rich by dragging this thing out.

  193. Chromatic, don’t be rude.
    If you can’t be civil, just accept that fact that our opinions are different and there is actually a way of sharing opposing views without being offensive.

  194. The interview (audio) with Cliff Hughes is in fast foward can that be corrected

  195. Kullcull:

    Correction, Ricky Azan said he will pay back the $45 Million in 15 months and has prompt left Jamaica for Florida, where he says he is working “assiduously” to repay his investors…good luck investors. You notice they all use the same word “assiduously”. Must be the same PR person writing these news release!

  196. Robin Irie,

    Thats a very ignorant statement.
    Forex trading is gambling for people who dont have a clue about the process.

    If forex is gambling so are all other investments such, stocks, mutual funds, Real Estates etc.

    During 2006 the average trader made 10 million in bonus. They dont get those bonuses UNLESS there pulling in high returns.
    They only pass on 20-30% to you( if you get that much).

    Just because people are christains(I am not) that doesnt mean they shouldnt invest.

    Jamaica was introduced to forex by two conmen…Yea I said two. But there are legitamate funds out there that you can invest with.

    There also alot of legitmate places where you can learn to trade forex for FREE.

    The best lessons I got from trading forex only charges me $200 and that includes the charting service and free live trading tutorials etc. Everything for only $200. There charting service is phenomenal. I really get my moneys worth!

    Jamaica was introduced to forex by TWO conmen. But I hope it really dosent turn people off from trading. When I learned money management thats when I became good at trading.

    Some body said early that alot of traders having losses. Remeber Europe has 6 weeks of vacation so that in turn slows down the market. The market is in a range during the summer. MOst experienced traders ten to not trade during the summer.

    But with all the drama in the market today this summer had phenominal volatility and have had good trades.

    I suggets that traders dont give up. Research other Forex companie soutside of MTI. There other companies that have much better systems than they do. Theres is quiet out dated IN MY OPINION.

  197. Miachica:

    Who are the two con men?

    Also, what does miachica stands for?

  198. Usfx

    I apologize.And for that comment i am sorry if i have offended you or any one else it was indeed rude.

    Respect

  199. Usfx,

    As for our opinions being different i have no issue with that i however seek no further meanings other that the FACTS that i have been presented with thus far.And the all do not paint DS in a respectable light.

  200. I urge everyone on this blog to go to work and make back your money you have lost and stop chastising DS.
    Because u all sound like a bunch of idlers or a bunch of rich folks that already have it and dont want anybody else to have it and have nothing to do.

  201. johnny cockran – trust me boss, nuff of us not in that category you describe (perhaps you are), but you are right about getting back to work

  202. I’m curious to know,

    If the general consensus among olint members on this board that they/we allow Mr. smith to ‘trade’ his way out of this problem?

    I cannot for the LIFE of me understand why ANYBODY would at this point not take whatever little is left and run. The man has clearly lied to us over and over and over … let recap quickly

    1. Payments were held up due to due diligence… apparently not true.. apparently payments were held up due to bad accounting?

    2. The are actively trying to reduce the number of club members, while at the same time actively recruiting in TCI?

    3. 250 Million was wired to A local bank…. I think its safe to assume this was also false.

    4. He did not write the letter. It seems to me a little strange that the legal document drafted by his lawyers says basically the SAME thing (with the exception of blatant confessions of fraud)…i.e. the fund is in a bad position, due to bad accounting….

    5. Showing members a copy of an email which claims to be from oanda, stating that money would be wired…. ANYBODY with ANY basic computer knowledge could tell that that email was fake….

    So those are just a FEW of the blatant lies…. and then we get to behavior (albeit i have not witnessed any of this myself.. but you know the saying..’if nutn nuh go suh..it almos go suh’)

    1. Gambling
    2. Excessive/regular drinking
    3. Expensive travel
    4. Large personal gifts/grants to friends/family (ranging in millions)
    5. VERY expensive parties
    6. Sponsoring Jazz Fest (in what can been seen as a possible attempt to boost credibility… much as how Crash Plus supported the Premier league)

    Now these are just a FEW of the things that I/We know about.. I’m sure in the coming week more will be revealed….

    Now taking all this into account… WHY IN THE WORLD would ANYBODY consider trusting this man again with their money?

    I hear calls to support ‘David’… give him a chance… all we need is some transparency into the operations of ‘the club’…. NONSENSE… at the very BEST, clubmembers I FEEL should take what they can get.. if ANYTHING at this point. If they still feel the need to support Mr. Smith and give him a chance, club members can then open an account with Oanda, sign a lpoa, and have Mr. Smith trade that account for us. That way, he CANNOT touch the money himself, and that way we all get to see EXACTLY what goes on…

    It’s too late for transparency and second chances in my opinion… all the people who will be ruined, set back in life for years, have little to look forward to in their retirement… THEY wont have any second chances….

  203. FX trading like day trading stocks is akin to gambling. Long term Stock investing is not gambling. This is why many many people like Warren Buffet or I can consistently do well over the long term. A great profitable company’s stock will fluctuate from minute to minute but will rise over the long term. Buying a basket of such companies, which you can determine by analysis, will guarantee long term returns.

    Day trading the very same companies stock over the short term is gambling as there is no way to consistently predict the value of a stock in the short term. Volatility of a company’s stock in the short term often has nothing to do with the company. E.g., Microsoft and Google reporting profits below expectations may cause most stocks in the tech sector to fall.

    FX trading is similar. Currencies will fall and rise on such news as saber rattling by Israel or Iran. There is no way to consistently predict such news or many other factors affecting the changing value of currencies. All these charting and other systems are constantly being changed… they are at best just like gamblers trying to come up with a system which at best can only work for a short time. So called great FX traders are only great for relatively short periods before they burn out or their systems stop working, They are not much more than a hot tipster at the race track.

    This is why up to 95 % of people lose in FX trading. Note also that the 5 % that win are constantly changing. In other words 19 in 20 lose. For folks that like those odds and think that FX trading is a great way for poor and middle class people to get rich… is is not easier to just go to the race track and in each race simply bet on the 20 to 1 long shot?

  204. DS, Your tongue may appear to be tied
    Your feet may appear to feel bound
    Your eyes may feel like they have become dim
    Your heart beating like its battered and bruised
    Let, you be Strong with pure heart
    If you find your self in hell! God shall be there!
    If you flee to the mountain top!
    God will be there to comfort and take you through!
    Keep alive the spirit of knowledge
    Wisdom and understanding within you
    Let the spirits of poverty be broken in our Jamaica!

    DS, get up, come on, and gather up your strength
    Let mouth be open and say!
    SSHHEE! SSHHEE! You Vultures of evil and whoredom!
    SSSSHE! SSHHEE! You Spirits of Poverty
    SSSHEE! SSHHEE! You life takers and extortionists
    SSSHEE! SSSHHE!
    SSSHHE! Money hoarders I fly ALL traps now!
    SSSHEE! SSHHEE! You,
    SSHHEE! Yes You, You with compasses to entrap and abort the mission
    SSSHHEE! You, SSHHEE! You, Decoying Spirits!
    But I tell you
    Let the spirits of poverty be broken in our land!

    Let ALL mouth be open and say
    SSSHHHE! Spirit of whoredom and adulterers’
    SSSSHHE! You, you Rapers’ Satan you devils
    SSSHHE! SSSHHE!
    SSSHHE! For I must compete
    Missions and fulfil DREAMS
    God’s purpose for the poor of the land
    To break the backs of poverty and let God’s people go!

    Let Dreams and Missions position Jamaica as
    The PLACE on earth
    Without blood shed
    Let Jamaica be the
    Yes, let Jamaica be the Place
    Without every kind of oppression and extortion and life takers
    Let Jamaica the PLACE on earth
    Where the poor will be rich
    The sick become healed
    The homeless buy themselves homes
    The orphans and widows are loved and cherished
    The Jamaica
    The place, without
    Closet slavery and whoredom
    DS, Jamaica let the love of God surrounds you.
    The race is before you, the battles in God’s hands”
    Let the spirits of poverty be broken in our land
    Come on Dreamers , D-r-e-a-m! again
    Missionaries come on get on the battlefields!
    We must restore our people, Jamaica
    God let the Glory be yours forever and Ever!

    Copy right: JEE

  205. Whats going to happen to ALL these greedy pigs that were busy taking people’s money for a fee (%). Where are they going to hide? What going with Lewfam and F1?

    Who was doing the trading for May Daisy and is her DD true?

  206. Can anyone here tell me what the interest rate figure that Olint paid out for July is?

  207. Well David Smith has finally made it Big, he is in Forbes. Albeit for the wrong reasons.

    http://www.forbes.com/feeds/ap/2008/07/18/ap5229990.html

  208. There are some folks who did very well with this Olint “scheme” club – in fact some of these same people now want to throw out the baby with the bath water. Filing lawsuits for what little money is left seem to be a zero sum game – The probability that DS will trade for 9 months and make at least some money back is a better proposition that a lawsuit.
    Think about the pros and the cons – if you were not risk averse 1 year ago (when you sent your money to Olint) then it is a little too late to start managing risk.

    Let him trade – nine months is a short time – in the grand scheme of things (no pun)

  209. I have no problem with letting him trade. We should ask for some reassurance since he already betrayed our trust.

    Fool me once, shame on you. Fool me twice, shame on me.

    I don’t want to sit here and in nine months only to hear crap about due diligence all over again. I want audited statements on the fund as it is now, and monthly audited statements going forward.

    There are some who just want to see Olint destroyed so that they can say, see I told you so. Olint may have already been destroyed, but the alternative of pressing for the winding up of Olint will just guarantee that we will get nothing. There are people who will be seriously damaged if we lose everything. To them its not an abstract argument. The only ones who will win in that scenario is the lawyers, auditors and accountants, who will get the most of what’s left of our money.

    We can be smart, and take the option which if executed properly, has SOME chance of us seeing something of our money.

    As Ronald Reagan would say, “Trust, but verify”. I want to see audited statements going forward. Then at least I would be able to know what my real chances are.

    Then I would be making an informed decision.

  210. Nocotec,

    I will admit that day trading is not easy and most people that do it will not make money. It is certainly not accurate to call it gambling as gambling is a game of chance whereas successful day traders have strategies that they adhere to remain profitable. I think you need to draw the distinction between trading and investing. A trader will trade to generate his/her income via whatever strategies they feel work. Day trading is not an investment strategy. An investor chooses to invest in a company/mutual fund or Olint (LOL) with the aim of getting a certain return on that money over a certain period of time.

    Goldman Sachs which is by far the most successful investment bank in the world makes most of its money not from investment banking fees, advising clients or buy and hold investing ala Warren Buffet; but from trading. Certainly I am not saying Goldman Sachs day trades to make their money but they trade nonetheless. They certainly traded their way around the financial meltdown of the past year and a half by being short the ABX Index and other mortgage securites as well as being long commodities. Many of those guys you see in the pits in Chicago at the CME are successful day traders.

    With respect to FX I will agree it is incredibly difficult to day trade. Most successful trades usually involve a longer term bet over a period of months or years. Of course FX day traders (retail guys) usually do not have the capital to ride out the wild swings in that market and usually blow up before their bet on EUR/USD turns out to be right.

    We could go on forever about investment strategies and debate whether the Warren Buffet buy and hold method wins in the end.

  211. Needy:

    Do you mean June? and are you serious?

  212. Hold on man, let us see if is contaminate the bigger heads, contamine the Olint records, the DECOY email, the alleged incoming WIRE TRANSFER OF about US $200M, AND WHETHER OR NOT our dearest beloved local banks did make any effort to conspire against the investment, olint. to bring it down..
    or IF DS only know how to trade for banks and not for his own business.
    Let find the the truth , hold on, fan away the dust, so we can see clearly ;

    “Let mouth be open and say!
    SSHHEE! SSHHEE! You Vultures of evil and whoredom!
    SSSSHE! SSHHEE! You Spirits of Poverty
    SSSHEE! SSHHEE! You life takers and extortionists
    SSSHEE! SSSHHE!
    SSSHHE! Money hoarders I fly ALL traps now!
    SSSHEE! SSHHEE! You,
    SSHHEE! Yes You, You with compasses to entrap and abort the mission
    SSSHHEE! You, SSHHEE! You, DECOYING Spirits!
    But I tell you
    Let the spirits of poverty be broken in our land!

    Let ALL mouth be open and say
    SSSHHHE! Spirit of whoredom and adulterers’
    SSSSHHE! You, you Rapers’ Satan you devils
    SSSHHE! SSSHHE!
    SSSHHE! For I must compete
    Missions and fulfill DREAMS
    God’s purpose for the poor of the land
    To break the backs of poverty and let God’s people go!”

    Truth Fly the gate!

  213. Johnny P I am not saying that people cannot and have not made money using such strategies. But check any trading desk of these big firms and look at the tenure of the traders… very short. They burn out or blow up. To believe a free lancer like DS trading on a retail platform can consistently win as implied by Olint is crazy. Giving him 9 more months is crazy. Has anyone even ever seen any real proof that this guy has had any success at this stuff.

    Look at Ingrid of MayDaisy… People gave her money along with several others in JA… people with no background or track record… believing these people could return 20 % per month.

    These FX traders are no Soros… generally making long term currency bets. These guys are the equivalent of FX day traders…. and on retail platforms. It is like betting against the casino. Of course some people will win, and some for a while… But to believe they can consistently beat the casino or the big guys who have the equivalent of insider like information is to be a nut 🙂

  214. Johny P

    When Goldman Sachs or Deutsche Bank makes money from trading, they do it with great confidence and minimal risk. How is this possible?

    Every major trading operation is able to flourish because of one big “secret”. It is called “order flow”. Order flow is made up of the buy and sell orders of all of their customers. A major trading house has as its customers a very sizable proportion of the market for these people and they are more valuable than gold. Order flow includes the big items like a company that is buying a dozen jets and has to pay in euros in three installments over the next three months. It also includes the small items like when you put your order to buy euros into one of these online trading systems. So, it includes big and small and it includes flow coming in the next two seconds and flow coming in the next three months.

    The trader that has order flow is the trader that owns the market. He makes money because he can give each of these people the best price (buy or sell) at any given time. He or she does it with confidence because if he is to buy, he knows better than most other people how easy or hard it will be sell to someone else.

    With all of this information, he can trade huge volumes and make a ton of money without taking any risk at all. Call that Trading Income Stream A.

  215. DaveSin, marco… lol

  216. The same information gives the major trader a tremendous advantage over the rest of the market. He or she will also use the same techniques miachica uses and DS claims to use (I believe miachica, I don’t believe DS). This gives him Trading Income Stream B.

    Now, a major trader, remember, is trading using someone else’s capital (whether it is a bank’s shareholders or it is a legitimate fx trading fund’s investors – what Olint members hoped DS was doing). Putting it simply, Stream A is the easy money (easy to get, hard to lose) and Stream B is the hard money (hard to get, easy to lose). The way it works is this, the more easy money the trading operation makes, the more hard money he gets to try for.

  217. Why did I not find this blog earlier?
    You “naysayers” quite honestly, though appearing to be “bad minded” and grudge full, are actually articulating rational, cogent arguments. Not sure I’ve” lost” out on Olint. I think I’ve to date received at least as much as I’ve put in, and honestly quite a bit more. No I have no intentions of returning any of said gains to anyone as I believe on the scale of the net benefiters, I’m way way down. Check the range rover, ml and gl class Benz owners, they’d be prime candidates for any forfeiture.

    though I ‘net benefitted’, the fact that the psychology of it all leads u to count your current Olint balance in your personal finance bal sheet, to have it vaporize overnight changes your mindset radically. You have indeed lost. Prior to the disappearance, you live your life as if that comfort cushion will be there, growing at the same time, into supposed infinity. I had/have plans for my money. In fact, I will starting now, have to make several changes to the way I live my life, so that I do not join c.hill at tower hill/gp/spanishtown district prison.
    I love Olint via lewfam, provided me. I a little ambivalent now, the scales are slowly being removed from my eyes and I don’t know how to view them. They changed my life personally, but if you guys are to be believed, and right now it seems you are more right than wrong, they are also low life deceitful scam artistes for whom hell would be a rest stop on the way to where they belong.

    Hook line and sinker. Dirty motherf@$#rs!!

  218. It doesn’t matter how much over paid you were in your interest from Olint. From you got more than you should have, the right thing to do is to return it. Otherwise, you’re no better than a scam artist.

  219. It’s not about bad mind, at least for me it’s not. It’s just about being real. Dave, or the other UFOs could have the best of intentions, but if they aren’t willing to be transparent, or get regulated so that investors can have real assurance that the operations are legit and have integrity, then to invest with them is a really really big risk – not just because of the nature of the investments (be it Fx trading or whatever), but because of the way these people run their operation.

    Internal controls are no joking matter. Lack of proper internal controls sunk Enron, Worldcom, and a host of others. Remember the rogue trader who ran amok at Societe General ( http://news.bbc.co.uk/2/hi/business/7206270.stm and http://news.hereisthecity.com/news/business_news/7581.cntns)? And before that, what happened at Barings Bank ( http://en.wikipedia.org/wiki/Barings_Bank )? To operate a financial institution without proper internal controls is to invite disaster.

    In the case of Olint now, how can you have the assurance that no fraud took place if the accounting system is in shambles? I’m not saying that fraud did or didn’t take place, just how would you tell?

    For the life of me, I never understood how people were able to sleep at night having handed over their hard earned money to these entities who had no track record as financial institutions, were not regulated, were not transparent, had poor customer service, poor communication, and made promises that sounded too good to be true.

    Again it’s not about bad mind, or even about saying “I told you so” (even though I did tell them on the #4 bus, and they told me I was Jay reincarnated then kicked me … lol) but just about trying to get people to see reason before it’s too late.

    In the 90’s it was the “financial meltdown”.
    In the 00’s it is now the “invasion of the UFOs”
    I shudder to think what is next for the 10’s and beyond.

    Keepin’ it Real.

  220. Nocotec, Bob

    As a trader myself I know for a FACT that Olint was nothing but a ponzi and give this clown 9 months or nine years that money is gone forever.

    I was just simply trying to argue your point that trading is akin to gambling. I think these courses that run around “teaching people trading secrets” are mostly shams. In fact those guys’ secret to making money is actually the selling those courses that teach your how to trade.

    As for order flow Bob yes it is extremely important to a firm’s ability to profitably trade. It can never hurt to know where the buyers and sellers are in a stock that your are trading. That being said it was smart analysis(and a bit of luck) that allowed Goldman and a few very wise hedge funds to be short mortgages when pretty much every other bank was piling into that business. Likewise funds like Pershing Square did their homework on the mortgage insurers and was short them along with a host of other financial stocks as they imploded. On the other side of that trade was the likes of Bill Miller the legendary value investor form Legg Mason who has ridden the likes of Bear Stearns, Countrywide, Fannie, Freddie, all the housing builders down (all more than 70% from their highs).

    Another thing that these FX traders need to understand is that unlike stocks which are rather highly regulated the FX world is still pretty much the wild west as for as regulatory protection is concerned. So the odds are stacked against the retail guy tremendously. There he is trading in a wildly volatile market using crazy leverage and most likely his broker is trading against his orders.

  221. It’s not about bad mind, at least for me it’s not. It’s just about being real. Dave, or the other UFOs could have the best of intentions, but if they aren’t willing to be transparent, or get regulated so that investors can have real assurance that the operations are legit and have integrity, then to invest with them is a really really big risk – not just because of the nature of the investments (be it Fx trading or whatever), but because of the way these people run their operation.

    Internal controls are no joking matter. Lack of proper internal controls sunk Enron, Worldcom, and a host of others. Remember the rogue trader who ran amok at Societe General ( http://news.bbc.co.uk/2/hi/business/7206270.stm and http://news.hereisthecity.com/news/business_news/7581.cntns)? And before that, what happened at Barings Bank ( http://en.wikipedia.org/wiki/Barings_Bank )? To operate a financial institution without proper internal controls is to invite disaster.

    In the case of Olint now, how can you have the assurance that no fraud took place if the accounting system is in shambles? I’m not saying that fraud did or didn’t take place, just how would you tell?

    For the life of me, I never understood how people were able to sleep at night having handed over their hard earned money to these entities who had no track record as financial institutions, were not regulated, were not transparent, had poor customer service, poor communication, and made promises that sounded too good to be true.

    Again it’s not about bad mind, or even about saying “I told you so” (even though I did tell them on the #4 bus, and they told me I was Jay reincarnated then kicked me … lol) but just about trying to get people to see reason before it’s too late.

    In the 90’s it was the “financial meltdown”.
    In the 00’s it is now the “invasion of the UFOs”
    I shudder to think what is next for the 10’s and beyond.

    Just Keepin’ it Real.

  222. how much interest did Olint quote for this month?

  223. needy;

    log in to your account and check.

  224. It’s not about bad mind, at least for me it’s not. It’s just about being real. Dave, or the other UFOs could have the best of intentions, but if they aren’t willing to be transparent, or get regulated so that investors can have real assurance that the operations are legit and have integrity, then to invest with them is a really really big risk – not just because of the nature of the investments (be it Fx trading or whatever), but because of the way these people run their operation.

    Internal controls are no joking matter. Lack of proper internal controls sunk Enron, Worldcom, and a host of others. Remember the rogue trader who ran amok at Societe General ( http://news.bbc.co.uk/2/hi/business/7206270.stm and http://news.hereisthecity.com/news/business_news/7581.cntns)? And before that, what happened at Barings Bank ( http://en.wikipedia.org/wiki/Barings_Bank )? To operate a financial institution without proper internal controls is to invite disaster.

    In the case of Olint now, how can you have the assurance that no fraud took place if the accounting system is in shambles? I’m not saying that fraud did or didn’t take place, just how would you tell?

    For the life of me, I never understood how people were able to sleep at night having handed over their hard earned money to these entities who had no track record as financial institutions, were not regulated, were not transparent, had poor customer service, poor communication, and made promises that sounded too good to be true.

    Again it’s not about bad mind, or even about saying “I told you so” (even though I did tell them on the #4 bus, and they told me I was Jay reincarnated then kicked me … lol) but just about trying to get people to see reason before it’s too late.

    In the 90’s it was the “financial meltdown”.
    In the 00’s it is now the “invasion of the UFOs”
    I shudder to think what is next for the 10’s and beyond.

    Just keeping it Real.

  225. MIACHICA,
    just wondering which training people u used. I certainly wasn’t forking over $5000 over to MTI, they’re not the only ones with the information and as far as I’m concerned they’ve lost all their credibility.

  226. I use proacttraders.com check it out!

  227. Bob,

    Your observation is correct inorder for you to win..you HAVE to trade when the big boys are trading…There is no other way!

    Thats why I like proacttraders.com.

  228. needy

    the rate should the least of ur concerns

  229. A quick note to all….”A man must be thought to have intended the natural & probable consequenses of his own action”…Mutty Perkins-Perkins Online….now point me to the #4 bus once and for all.

  230. Johnny P
    What most of these folks that are new to the FX game failed to realize is that most of the folks telling them how easy it would be to win at the FX game are like casino marketers… the casino wins by just getting you to play.

    Anyone ever see a lotto ad show the losers? They use the guy who just won big. Most people just do not understand this phenomenon… for ever one guy on the lotto ad that won, there are millions that lost. Same phenomenon in the FX game.

  231. No argument there.

  232. Guys,…….Hold Up……..I Know where the money is. Its in the same Place where Saddam Hussein had his weapons of Mass Destruction. The same ones deh still looking for. Ah sarry fi oohnuh……………….

  233. how yuh mean that the rate is the least of my concerns? I have checked my account and there has been no interest rate posted.
    Has anyone got any rates this month as yet?

  234. Needy,
    Assume the rate is -100%.

  235. needy,

    nope, no rate yet. i suppose we’ll have o wait until march 09.
    i.e. in 9 months.

  236. or it may well be as mikki says-100%
    up in smoke!

  237. needy you are pulling our legs, right? You gave me a big laugh. Hopefully you paid attention in Math class… if you have been following the Olint news you will know that right now your balance is like 0… You get to pick the rate…I think DS had a very good month in June…. He returned close to 1000 % on your balance… you can now calculate your new balance.

  238. The reason why I asked about the rate is because this blog had now become a comedy club.
    Everybody here is holding on to hopes and dreams now.
    There will be no payouts in 9 month, 19 months or 19 years time.
    There is no money around for DS to trade with.
    Furthermore with all the baggage that he is now carrying, does anyone really think that he will pass a due diligence test to be allowed to trade on anyones platform.
    So i ask the question again,
    Whats the rate?

  239. needy, its easy for you to sit on the sidelines and encourage others to accept ruin.

  240. Let the spirits of poverty be broken in our Jamaica!
    ______________________________________

    DS, Your tongue may appear to be tied
    Your feet may appear to feel bound
    Your eyes may feel like they have become dim
    Your heart beating like its battered and bruised
    Let, you be Strong with pure heart
    If you find your self in hell! God shall be there!
    If you flee to the mountain top!
    God will be there to comfort and take you through!
    Keep alive the spirit of knowledge
    Wisdom and understanding within you
    Let the spirits of poverty be broken in our Jamaica!

    DS, get up, come on, and gather up your strength
    Let mouth be open and say!
    SSHHEE! SSHHEE! You Vultures of evil and whoredom!
    SSSSHE! SSHHEE! You Spirits of Poverty
    SSSHEE! SSHHEE! You life takers and extortionists
    SSSHEE! SSSHHE!
    SSSHHE! Money hoarders I fly ALL traps now!
    SSSHEE! SSHHEE! You,
    SSHHEE! Yes You, You with compasses to entrap and abort the mission
    SSSHHEE! You, SSHHEE! You, Decoying Spirits!
    But I tell you
    Let the spirits of poverty be broken in our land!

    Let ALL mouth be open and say
    SSSHHHE! Spirit of whoredom and adulterers’
    SSSSHHE! You, you, Rapers’ Satan you devils
    SSSHHE! SSSHHE!
    SSSHHE! For I must compete
    Missions and fulfil DREAMS
    God’s purpose for the poor of the land
    To break the backs of poverty and let God’s people go!

    Let Dreams and Missions position Jamaica as
    The PLACE on earth
    Without blood shed
    Let Jamaica be the Place
    Yes, let Jamaica be the Place
    Without every kind of oppression and extortion and life takers
    Let Jamaica the PLACE on earth
    Where the poor will be rich
    The sick become healed
    The homeless buy themselves homes
    The orphans and widows are loved and cherished
    The Jamaica
    The place, without
    Closet slavery and whoredom
    DS, Jamaica let the love of God surrounds you.
    The race is before you, the battles in God’s hands”
    Let the spirits of poverty be broken in our land
    Come on Dreamers D-r-e-a-m!, again
    Missionaries come on get on the battlefield
    We must restore our people
    God let the Glory be for you forever and Ever!

    Copy right: JEE

  241. Listen guys, it a long shot we know, but the only other option is to embark on a path which will give the lawyers, auditors and accountants 90% of whatever is left and rest assured the BIG investors will get most of whatever is left over after that.

    If you want to get together with some other club members at

    olint_investors**@**yahoo**.**com (Remove the **)

    and we will contact you in the upcoming week to explore our options. We have had a few more responses today from people all over. Keep the emails coming, the more persons the stronger we are and the more seriously we will be able to PROTECT your interests.

    **olint_investors**@**yahoo**.**com** (remove the **)

  242. Floridian from the # 4 bus, I hear you. Mi wi link de I latas, zeen?

  243. MIACHICA,
    i checked them out, now check out mine 🙂 leveragefx.com, the software is acuity workstation and you don’t need to pay monthly for access to software, just need to have a live account (mini/standard) with fxdd or one of the other big ones. They have classes each day too online.
    to each his own i guess,

    ps. to everyone – yes forex is very risky, you need to know what you’re doing, get educated, do a lot of research, dedicated some time, make mistakes, learn! I used to be in the stock market (unlike david smith I ACTUALLY WAS LICENSED AND REGISTERED with FINRA series 7, 6 etc) and did the whole works : stocks, bonds, mutual funds, etc.
    and i’m still here 7 months later still learning more about forex b/c i’m just not jumping into it blindly, it is a very calculated risk i’ll be taking. If i’m a good trader wonderful! If i’m not FINE at least i’ll know b/c i gave it a good run which wasn’t at the expense of my mortgage, car payment etc!
    I’m willing to bet (pun intended) at this point that everyone is willing to suffer a loss just as long as they can get back something.
    The ONLY traders I know that have tried to make back money they’ve lost by trading are in Jail or just collapsed the fund itself! Case in point, that dude in france that lost his bank like 7billion and was trading his ass off trying to recoup and doing everything he could to not let his superiors know….but in the end the sh.t did hit the fan.

  244. Johny P

    I agree with your 5.45pm post.

  245. Realist

    You are so right about internal controls. What people don’t realise is that for every story like the French guy at Soc Gen there are dozens, literally, every year that don’t make the news at all.

    Genius trader loses one day, hides the trade expecting to make it back and more the next day. Loses again, hides it again. Maybe increases his exposure. Loses again. Can’t understand how this is happening. He’s got his mojo, he’s doing what he has always done, he’s been down before and made it back; what the ***k is happening?!

    Starts to get desperate, doubles up again, loses again, hides again. There’s no reasonable way out now but what else can he do but keep trading and hoping until he is caught. Funny thing is that some of these guys are just relieved when they are stopped. There’s no way off the machine unless someone else steps in.

    Maybe that’s what happened to DS. I’m sure he would love to be able to tell a story like that. To some it could be seen as almost romantic; the poor tortured trader who meant well but just got lost and overwhelmed. Maybe that’s what will come from his lawyers at some stage.

    But that would be a bad joke. His was a Ponzi from way way back.

  246. Worship Me…Didn’t I say all of this days ago Miachica?

  247. CJ among the many problems with the scenario of letting DS trade and make back the money is this… How do you keep all the thousands of “investors” in line… Do you realize that it only needs one person to sue and shut the whole thing down. It is possible for one person with a lawsuit to get accounts frozen and a receiver appointed.

    Further the best traders are generally people with ice water in their veins and emotionless. This is why most good traders are better at trading with OPM (other people’s money). Less emotional attachment. With all the baggage around him how is he going to be a good trader. And has anyone ever produced real proof that this guy has any successful trading history… I mean, apart from the urban legend.

  248. Back to the gambling line.

    Isn’t it true that for you to make money someone else must lose money?

    Isn’t it true that you have no control over the outcome of whatever position you take?

    Its true that you can research, read ecominic forecast etc and take an informed position, but how is that different from me researching a horses pedigree and health, the jockey’s winning record etc before placing my bet?

    Ever heard of Lefty Rosenthal?

  249. The difference between gambling and trading is that trading involves:

    1) the ability to hedge risk or reduce risk via use of derivatives
    2) the ability to approximate and manage expected payoff and the risk-return dynamic via use of stochastic calculus, probability theory, and statistics
    3) the ability to apply program trading and software algorithms that can increase chances of success within the context of technical analysis

    Trading in an organized market or exchange with millions of participants allows for the emergence of certain overall system phenomena captured in a few noble-prize winning financial economic formulas such by Markowitz and Sharpe.

    Gambling is not subject the above caveats, though without knowledge of the above, one is likely to end just gambling.

  250. I lost quite a bit with DS/O, hurts. What hurts more is the absolute insensitivity that he has shown to the club members. over many months.

    It is without question that he was living the life in TCI, oblivious to the fact that thousands were waiting months for even a word about their monies.

    And, what in God’s name happened to this US$250,000M wire?

    I saw with my own eyes this e-mail from Oanda that was sent to DS and then forwarded to WS and MH, which “anticipated that by July 2, the DD would be complete” and that ” the wire transfer process would be commenced at that time”: Where has this wire gone.

    Am i the only one who wants an answer to this specific question?

    A colleague of mine also was privy to the video conference where DS showed a TX platfom with a US$750,000M balance ( where several prominent parliamentarians were in attendance).

    It now appears that DS lied and concocted fraudulent documents, to furthur elaborate a vicious scam.

    My God, this is the stuff of legend. This individual should be incarcerated for life (with wife/brother etal).

    Comments?

  251. Do you have a copy of that e-mail? please forward it to hyipmyths [at] yahoo [dot] com

  252. Could’nd copy it, was shown the document by short chubby S. I do not remember it verbatim but I will try a reproduction.
    ” Subsequent to our meeting on May 19, we anticipate that by July 2, we will be able to commence the wire transfer process, once DD and background checks on all individuals have been completed. for the amount of US&250,000M.”
    Not the exact words.
    I’m sure others can confirm/refute this.

  253. Sorry, US$250M

  254. First post US$750M on platform, sorry

  255. as the saying goes: Power corrupts and absolute power corrupts absolutely. Ds had absolute power, not regulated, no one questioning him or demanding answers. his word was all that was necessary. No matter how honest or decent you are, once u have absolute power, there is no way to handle it unless to surround yourselves with people who can keep you grounded and not just “yes men” . power corrupted hi. He just had too much poower for one human to handle. He had to turn to the dark side

  256. Sneezy,it could be easy for DS to fabricate an account with 750000mil on the oanda platform all you have to do is open “play” money account for free call it “Olint” and then continue adding play money till it reaches 750 mil….might take some time but is definately possible….I just cant trjust DS anymore,and trading to make back money never ever works…trader .0786 or miachica link me at juschill99200(at)yahoo(dot)com I have some good strategies maybe wecould help each other..

  257. *****juschill992000{at)yahoo(dot)com correction*****

  258. Truth, on July 19th, 2008 at 11:43 pm Said:
    The difference between gambling and trading is that trading involves:

    1) the ability to hedge risk or reduce risk via use of derivatives

    I can hedge my risk by buying “win and place” and place.

    2) the ability to approximate and manage expected payoff and the risk-return dynamic via use of stochastic calculus, probability theory, and statistics

    The professional actuaries working for bookmakers do the same thing.

    3) the ability to apply program trading and software algorithms that can increase chances of success within the context of technical analysis

    The bookmaking companies do the same thing.

    The law of probabilities always apply.

  259. The point is you cannot make money unless someone loses money. The programs only help you to make a decision it does help you to control the outcome.

    If I bet on a dice the chance of it coming 6 up is 1 in six. If I place two bets; one on 6 and one on 3, my chance of winning is 1 in 3. I can spread the risk in an horse race by splitting the money and betting on more than one horse.

    Lefty Rosenthal was a master handicaper. He made a lot of money from gambling by investing in information. He was so good that the mob got him to gamble for them. The film Casino is based on him.

  260. People who believe forex isn’t gambling should visit this link. Profesional gamblers dont just bet on a whim.

    http://en.wikipedia.org/wiki/Handicapping

    Thoroughbred handicapping is the art of predicting horses who have the greatest chance of winning a race, and profiting from these predictions at the horse races. The Daily Racing Form (DRF), a newspaper-style publication, is an important tool of the handicapper or horseplayer. The DRF details statistical information about each horse entered in a race, including detailed past performance results, lifetime records, amount of money earned, odds for the particular horse in each past race, and a myriad of other information available for casual or serious study.

  261. Robin Irie it is funny … we have been at the detractor game so long we are now even thinking about the same type of analogies 🙂

    Truth: The problem with some analysis I have seen is that they fail to account for human traits like common sense. I remember an argument I had with my brother many years ago. I was 19 and college educated, he was not. My father raised cattle. I was telling him that animals are not intelligent, only humans are.

    He proceeded to tell me if they were not how come Bessie would arrive at the milking shed, at precisely the right time, take up precisely the correct position,wait on you, let you know when she was done milking, and leave when the process was done, all with no intervention. He said that was intelligence. I argued it was Pavlovian conditioning and not intelligence. If I was not such a young buck and conditioned to the real world instead of just academia I would have recognized the outcome is the same, so what does it matter.

    No human designed game is truly gambling in the theoretical sense. Horse racing is not because some parties have more information that can affect the outcome than others possess. The lottery is not because the balls used in the drawing are made by machines and have minuscule differences in weight. In fact there are some that attempt to make a science of this by predicting that the numbers requiring more paint are heavier… FX ttrading is not truly gambling because some parties in the chain have access to more information than others… Day trading stocks is not because some may have insider info.. We can go on…

    What these mathematical analyses in FX trading and others is attempting to do is use mathematical theory to come up with an edge for a process that is not perfectly random.

    This is where most people get lost in what these programs are analysis is actually saying. A big example… Do you know that this simple action by casinos led to an increase of the casinos profit by up to 30 % at some tables… In dice like games the casinos started posting info on how many times each number had occurred in say the last 100 rolls of the dice. What customers do is to look at this info and notice that say the 6 has occurred only 5 times in the last 100 rolls… most bet on 6 since they expect it to occur about 16 times out of every 100 tosses and so it must be overdue.

    This is an incorrect interpretation of mathematical theory. The are making bets on past results but Probability theory in fact says that on every new toss of the dice, the probability of a 6 coming up is the same, 1 in 6. The number of times it occurred recently does not matter, the theory only says that if you tossed it an infinite amount of times that each number would occur the same amount of times. This simple fallacy causes the casino to significantly increase its take.

    The theories in FX trading are not for the small or middle class guy. These analysis are in effect saying something like this… the game is not perfectly random and so if our theories and program is correct we will make 1 out every 1000 bets you make correct. For the person with sufficient resource a small increase in the odds of winning can make a big difference over time. To the small guy he/she does not have the resources to bet enough or long enough for this small increase in odds to make a difference… for him it will still be gambling.

  262. John Doe

    “Robin explain it cause people no understand”

    Let those that have eyes see and those that have hears hear.

    Selah

  263. nocotec

    It is an old cliche that common sense is not so common.

  264. Good post, nocotec.

    Another element not appreciated by the retail fx trader is that he is playing against the “gods”. The retail trader is blinded by the science being made available to him on his retail platform. It really is amazing stuff and very impressive.

    How would he feel, though, if he really understood the nature, scope and sheer scale of the machines (hardware, software, clever algorithms and sheer top-rank brainpower and experiene) that he is trading against? We all love a movie where the plucky outsider with guts, grit and intelligent takes on the ‘machine’ and teaches it a lesson. Nice myth. The machine is a steamroller that doesn’t even notice as it crushes you and pockets your pennies.

  265. I should add that I got to ride on one once. You wouldn’t believe what the world looks like from up there.

  266. Truth Said: ….”Gambling is not subject the above caveats, though without knowledge of the above, one is likely to end just gambling.”..

    So, the BIG question is what percentage of the so-called “traders” fit into the latter category? Or better still, what percentage of these traders FULLY undertsand the “black boxes” or the proper application of these software?

    The follow up question to the above, would be, given the sophistication of these mediums, why are there more (significant) losers than winners?

  267. And to come back to my original question, how can you be gambling and praying at the same time?

  268. Bob, can you imagine if people put their money in an established bank or brokerage house, like a BNS, or JMMB, and when they go to withdraw/encash their funds, they are told that they cannot get their money because of “due dilligence” or some other reason? Do you know what would happen to that institution? Very soon, every one would pull out their money. Nobody is going to wait 7 months without being able to withdraw their funds before they take action.

    So why is it that people were willing to live with the inefficiencies and the unprofessional manner in which these UFOs conducted their business for so long?

    It just makes no sense to me.

    I see people on the #4 bus calling for transparency now. Why was it that when others were calling for it back then, they were labelled “detractors” and chastised, but now the same words are mantra for the chastisers? Life is funny eeeh?

  269. Good morning,

    I hope by now you would have all ready the gleaner article on DS which is available on line today.

    The man literally threw away / wasted his investors money and they were simply cheering him along all the way( I admit most did not know or even care as long as 10% kept flowing).

    Can you imagine this man exercised zero fiduciary responsibility to his clients, and was thrown away up To US$100K per night when he visited his favourate “casino”.

    So not only was he gambling in the forex market, but he appeared to also be gambling away some in the other casinos that he visited.

    What a highly irresponsible act, and yet he lied and said he did not use his “clients” money for his own personal gains.

    DS is a irresponsible and lying individual who should NEVER be given a dollar or a day to manage for ANYONE.

  270. Has anyone seen the printed version of the Observer yet? I would like to know if Mark Wignall has broken his silence as yet.

  271. Jay:

    Investforlife post the link to the article and also has excerpts on another thread. Maybe we should all migrate to that thread, since this thread was more about the “fake/genuine” email…I think it has run its course!

  272. Dave you are right, heading over there now where I will repost it

  273. Remember how LEwfam and Olint were started?
    They both were started based because “A prophetic Word” came so Lewfam & Ol are not fly by night Ponzy scheme as the white collarist are saying.

    These two investment schemes were prophetically sent for Christians; but unfortunately the greedy red eyes uncircumcised philistines got involved with their evil intentions. Some of whom get their wagga – wagga money and still the poor in their family are still living in filth. Selfish bulls and cows.

    SOOOO God is going to restore DS ,OL and its true investors for whom he was sent.
    So don’t watch the storm don’t watch the flood don’t watch the bad Breeze it will come to drive out, drown out; all the Rats, TWO legged PUSS and PERSECUTORS.
    DS must get back consciousness and today too.

  274. Realist

    Read Sheila Moonlight’s post and there is your answer.

    gone to the other thread.

  275. shit., mi lose all mi money!

  276. Look the real culprits are the IMF and the World Bank they are the two HIDDEN hands behind every THING concerning CASH PLUS and OLINT. I Think people should get a copy of the book CONFESSIONS OF AN ECONOMIC HITMAN or listen on the net. It is an open secret that they sent letters to Bank of Jamaica and Ministry of Finance earlier this year. They have even threatned the Jamaican Government with economic sanctions if they did not shut down these schemes. (Their letter was leaked).
    According to my understanding their game plan is to keep countries like Jamaica (Caribbean and Latin American) countries in poverty always borrowing . Their worst fear is economic independence of the likes of Venezuela; because then our governments cannot be manipulated by them.
    These guys are masters of their game of wickedness and evil. Although it is veiled under the cover of an International Lending Agency They have been at it since 1945. SOMEONE NEEDS TO DO RESEARCH ON THEIR SUBVERVISE ACTIVITIES in countries they are involved with. (Soverign nations my foot!!!!)

    I was certainly not surprised last week with news circulating in the media about David Smith and suicide. They are masters at the propaganda game I would not be surprised if they are planning to kill David Smith and make it look like a suicide. believe me take it from the man they trained to work for them. They do these “wickedness” all the time Nothing should be ruled out thats why they they work best in “darkness” so while we blame NCB and Lee-Chin and everyone else the real cuplrits are the IMF and the contractors whom they hire to do their dirty work for them.

    funny thing is I DONT EVEN THINK THAT DAVID SMITH KNOWS WHO HE IS REALLY UP AGAINST.

  277. bwoy sheila moolight i would love to agree with you but from my experince .. the most evil is hidden behind religion and the bible. so its worse for me when religion is involved..i take no solace in that. i am net hating on religion or the bible but most people use both to cover there evil intentions.

  278. For anyone who is interested to do the research ..i heard Max Higgins of higgins warner is in jail in morroco or somewhere like that…Not sure and dont say i say because its second hand info.. I will give it as i get it …awiaiting more details

  279. People David is up against GOLIATH big time!!!. These guys have the money, h-e-a-v-y connections and years of experience.
    They have been at this since 1945. They cannot allow Jamaica to come out of debt or any other Caribbean or Latin American country for that matter. Too bad that Chavez got out and is now very “pally” with Castro. They cant let that happen in Jamaica we must always be poor and subservient. Thats why both political parties (JLP AND PNP) despite gettting funding for election campaign have to move against them. Representation was made to them(both political parties) on behalf of some businessmen and they were promptly told that they can do nothing about CASH PLUS OR OLINT because WASHINGTON HAD given orders. Both Audley Shaw and Omar Davis knows very well the real deal !!!! they have to make regular begging trips up there. THERE IS MORE TO THIS THAN WHAT MEETS THE EYES and EARS. Again I urge everyone to read CONFESSION OF AND ECONOMIC HITMAN” its at living streams book store in Cross Roads. They will get a clearer picture of how the IMF works.

  280. There was some artilce saying that the IMF told the goverment to close these investment house not good for the country

  281. readers there are two questions i would like to be answered is there any truth to the $750 Million on Oanda Platform and what are the implication if he is found guilty of money laundering?

    Does that mean all the funds would be seized.

  282. vernoa:

    There is no evidence of any such sum. And if he did have such a sum it is likely that there would have been no payment issues.

    If he is found guilty of money laundering it is likely that funds from investors who were not a part of an attempt to launder money would be returned to those investors. However, realistically the amount of money that is likely to be found will probably be pennies on the dollar owed to investors.

  283. Thanks for your reply, but i think it is worthwhile that i share this information with you; I have had discussions with I-Trade who claimed that they refunded over US$500 Million to Olint on December 31, 2007 which they believed he transferred to a new trading platform.Based on this comment from I-trade isn’t it possible that he has roughly US$750 Million in cash; but the billion dollar question is can this cover his liabilities.

  284. one more thing to mention Olint has been under investigation since the beginning of January 2008 immediately following the Jamaica Supreme Court ruling and it that very reason why he has been experiencing difficulties from January in making payments because NFA had him tagged as conducting suspicious activity.

  285. Vernoa:

    Please follow the link below and read the relevant articles and make further post if required. That US$500 million does not match up with the public NFA numbers in the articles:

    https://investforlife.wordpress.com/2008/07/02/martinez-in-trouble-with-nfa/

    BTW, this article is available on this site!

  286. I read the NFA report dated June 30, 2008 what NFA did not mention in dollar terms in that report was how much is David Smith 100% principal holding in I-trade worth, which according to I-Trade that represented US$500 Million which they reimbursed to him on December 31, 2007 with interest.

    I am member of I-trade and they were very frank with me on the phone about this issue because of the June 30, 2008 NFA report. I am merely repeating what they told me and I believe they would be willing to share the same with you if wish to verify my claim.

    But even if he has that amount of funds is it enough to cover Olint’s liabilities.

  287. Vernoa,

    If DS is found guilty of money laundering by the USDOJ (and that is a big IF), there will be a criminal conviction under US law which would allow the US to pursue extradition (based on whatever extradition treaties exist between the jurisdictions involved and the US). This will be probably be a year or so later.

    There is a difference between seizure and forfeiture.All assets would be under seizure but those funds that are clean would NOT be forfeited. The USDOJ is not in the business of further victimizing victims of an investment fraud situation or a ponzi scheme or a money laundering scheme.

    The likelihood of finding all of Olint’s assets that would match its liabilities is extremely low. But will there be enough assets to match a payout of original principal deposited, is another question that remains to be seen

  288. vernoa:

    In the Cliff Hughes Nationwide interview with David Smith and the Martinez(s), DS denied he was a 100 % principal… he seemed to imply it was much less. This would imply that the $500 million figure is bogus. And if there was a $750 million amount available how come DS does not release the evidence and allay fears? That number is more that most guesstimate of the funds he has under management..

  289. something wrong with that i think. If my memory is correct in the interview he said what he had was less than 10% stake in i trade. And if his 10% is 500million, then u can do the math. Either I trade is lying to u Verona about what they refunded him or DS is lying. PLUSSS i highly doubt, or i should say i am very confided that u don’t need to put up 500Million US to start a brokerage firm. Since in the US, u can start a bank with between 6-30mil capital depending on state and location. As always someone is lying or Both are lying.

  290. David Smith has between 11% and 15% stake in I Trade FX even though he supplied all the capital of 1 million USD which was required to start a FCM. NFA numbers are correct because they audited I Trade FX books and looked at money transfers. The FX Thief screws everyone he does business with.

  291. Vernoa:

    Don’t you find it strange that I-Trade FX would divulge such information to you…only a member of I-Trade FX? All the other brokers would NOT provide any info of that sort about their clients.

    I wonder if I call them and ask them about the status of your account they would laugh me off the phone. So, why did they give out, what I believe to be erroneous information? BTW, who was the person that gave you this info? Was it one of the officers / owners / managers? Is this person in the information loop of I-Trade FX?

    The NFA report was release in June 2008 or there about….why did it not capture the USD$500 million payment? Are you suggesting that this amount was somehow done outside of the “normal” course of business…off the books? Your statement used the word “reimbursement”, which would imply that the funds were given to I-Trade FX in an “open” fashion. So, the question: why didn’t the NFA DD discover and reveal this $ amount?

    Don’t take these questions personal. I believe your claim that someone at I-Trade told you about the $500 Million. However, that person doesn’t know what they are talking about and should not even reveal such information!

  292. It was told to me by a friend who was at that meeting of the big boys to show the $750 mil and the letter from the presedent of Oanda to quiet fears that he will be showing me proof of it. never made anything of NFP yesterday was a dud

  293. Traderfxj:

    I did not understand a thing you just said. Could say it again, with the reader in mind?

  294. The 750mill and the letter from the president which was shown to the big investors a friend was there and said he will show me proof in living colour

  295. Traderfxj:

    Get a copy and send it to investforlife! When is (s)he going show you this proof? I take it DS handed out copies of the letters to these BIG investors?

    If the $750 million exist, whats the problem? Oanda can’t hold on to people’s money like that.

  296. I will try i need to see dates

  297. TRADEERFXJ,
    WHE DI LETTER DE?

  298. i wish these guys would just cut the suspense and b straight wid people. (i kno it’s not that simple, just venting)

    DS and di whole a dem should tek mutty’s advice to “give up their anxiety” lolol.

    http://www.xstreamist.com/play.php?mode=song_hifi&band_id=15&song_id=2997

  299. I guess most people are in the acceptance phase.. September has ended, and Olint has issued no communication as promised. yet nobody seems overly disturbed.

    Nobody is even making excuses. Maybe he has not gotten back power or internet , as they would in the early stages.

    I guess most have moved on..

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