F1 Closes OLINT-traded Gold Fund

F1 Investments is explaining to customers that problems with David Smith Led OLINT has put their GOLD fund in jeopardy.  In a release to members they say that the Platinum fund is not in danger except for the problems that they are having with Ingrid Loiten led May Daisy. Please see the letter below.

July 25, 2008

Dear Valued Client

We would like to take this opportunity to thank you for your patience and understanding and seek to update you on the current status of affairs with regards to our Gold and Platinum Funds in light of recent developments which have occurred within the foreign exchange trading industry.

As you are aware our Gold Fund, as mentioned on the website, is traded by OLINT Corp. Limited (OLINT).

Mr. Smith sent out a communiqué on July14 & 18, 2008 and we wish to forward this to you, as this will have implications re your Gold Funds in trade.

We believe that due to investigations by various international authorities there may be a significant impact on OLINT’s ability to successfully trade this Fund and as such in order to protect the funds placed with OLINT we have decided to close this Fund and have requested that OLINT forward to us all monies due to date with a view to paying out our clients all amounts due for this Fund. It is our understanding that to date no legal action has been brought by the authorities against David Smith or OLINT nor has OLINT been ordered to cease its operation.

We have heard that the investigation, at this stage, is a fact-finding exercise on the part of the local authorities in the exploration of their mandate to stem the flow of financial crimes in the jurisdiction, however we believe that our decision to close the Gold Fund is necessary to mitigate any risk to client funds in light of these circumstances.

We are aware that possible consequences of this investigation could be the delay of these payments by OLINT and we are currently in dialogue with OLINT with a view to have payment made as soon as possible. A direct consequence will be the delays in fulfilling encashment requests for the Gold Fund.

We anticipate a resolution to this situation and will endeavour to keep you fully informed and pledge to address all relevant issues in a timely, effective and efficient manner as the situation unfolds; as we can only inform you of the facts as we receive them. As you are aware, this is beyond our control.

Our Platinum Fund continues to be traded by our traders with good results save and except for the sums placed with Ingrid Loiten of Maydaisy which we are endeavouring to recover through due process in the Courts of the United States of America.

We continue to monitor the events closely and commit to keeping you informed. We once again thank you for your understanding and wish to reassure you that your support
serves to encourage and strengthen our resolve to do whatever is necessary to ensure that our clients’ interests remain of paramount importance.

Please do not hesitate to give us a call for any queries you may have.

Yours sincerely,
F1 INVESTMENT INC.

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48 Responses

  1. Well, well

    The number of company’s that this site has listed before as being affiliates of Olint has now being confirmed by all the letter/emails from the company’s involved.

    Notice the names being called seems to be the same ones being floated around as being traders.
    As this site reported two days ago, Ingrid Loiten has since migrated and has set up a new investment company in South Africa.

    So the status of the platinum fund even though being said to be ok in this document, could be in serious trouble. The fact is we don’t know how much of the total funds held in the platinum fund, is held by May Daisy.

  2. not a lot i just got confirmed by source that all these funds will be released in due time…good things will happen just be patient

  3. Ok, I can understand that some individuals got scammed, but the principals of these feeder clubs have to be the biggest set of fools on the planet.
    They start an investment business where they take other people’s money then hand it over to someone who says he is” trading”, then at the end of the month they merely accept whatever the trader says as there gains without any independent verification. These principals should be locked up for stupidity
    These people who operate the feeders are said to be educated, simply demonstrates the difference between education and common sense. Even a high school student should know better,
    On to this letter F1 states

    “We are aware that possible consequences of this investigation could be the delay of these payments by OLINT and we are currently in dialogue with OLINT with a view to have payment made as soon as possible”

    So apart from being tricked they continue to listen to the garbage DS is spewing at them. Yes F1 i am sure you will soon be getting your funds you requested, it will come the day after Super Dave has a meeting with Santa Clause and the Easter Bunny. The money will not come via wire transfer so look out for those eggs and under the trees.

    “A fool and his money……

  4. Is it possible that F1 is more inextricably linked to OLINT other than just being a feeder? The tone of the email seems rather conciliatory. Its amazing they are able to get in touch with DS while the general public/Olint investors cant.

  5. Jay:

    The email suggest that the rumours that FI and May Daisy had settle their lawsuit, is not true.

    Just-in-Time, on July 25th, 2008 at 8:48 pm Said: “Is it possible that F1 is more inextricably linked to OLINT other than just being a feeder?”…

    Just-in-Time:
    What do you mean? Explain.

  6. @ Just-in-Time

    They are in touch with DS because they are good friends.

  7. Jay says

    “As this site reported two days ago, Ingrid Loiten has since migrated and has set up a new investment company in South Africa.”

    I know you boys are trying hard for a NEWS BREAKER award. Stale news in not breaking news. You need to get your facts straight and stop pretend that you are informing the public especially for the first time. ALONDOKA IS NOT a new investment company. Stop the rumor mongering.

    Again you looking lime light. Your blog featured on Forbes LOL. You mean the creator make some posts and leave a link to this site. Dude you need to chill.

  8. Folks, just to be clear: the feeder clubs are all breaking the same laws that Olint and DS have been breaking. If you don’t care about that, try this: the feeder clubs are involved in the same fraudulent misrepresentations (read “lies”) that Olint and DS have been making. They have as much to answer for as Olint and DS.

  9. That smiley face was not intentional.

  10. I bet at the end of all this bs you will find a Nigerian master scammer involved with all these UFO’s. These Jamaicans had no idea what they were getting into when they decided to get into the pyramid business. What a joke this has all been.

    The thing that baffles me is this. If you are a successful Jamaican businessman and you know how long it took (and how hard it was) for you to make your first million dollars why on earth would you have thought these characters running these UFO’s had some big secret on how to make money faster?

  11. Did any notice the MTI logo in F1 Investment’s website from March 2007 for almost a year?

    The same connections are appearing between F1, May Daisy, Olint, Market Traders Institute, I Trade FX, JIJ Investments, TCI FX Traders, David Smith, Ingrid Loiten, and the Martinezs’.

    The chinamen has the wash cycle on high spin to get the fishy smell out of the laundry.

  12. Did anyone notice the MTI logo in F1 Investment’s website from March 2007 for almost a year?

  13. The F1 letter sasy “It is our understanding that to date no legal action has been brought by the authorities against David Smith or OLINT nor has OLINT been ordered to cease its operation.”

    What they mean to say, I suppose, is that no legal action has been brought by the TCI authorities against DS etc. The fact is that Olint was ordered by the jamaican authorities to cease its operation. It is these types of mistatements that will get F1 into trouble eventually.

  14. …hmmm..even though….we find it necessary..

    Pressure must be coming from other sources

  15. If the pressure can reach the schemes…..then why don’t they think it can reach individuals?

  16. Which brainiac told DS to go to TCI? That was such a smart move. Needs a better travel agent?…who knows

  17. “…clients interests remain of paramount importance…”

  18. who is the steve palmer fellow?
    i know someone by that name, a loca lad, mid-late thirties..could it be?

  19. ‘Even when wi lf di gully….wi naw worry…’

  20. DONTGIVEADAMN, say “ALONDOKA IS NOT a new investment company. Stop the rumor mongering.”.

    So is there any reason to failed to bring this fact to the public before.
    Its the same with some of these folks, who know quite a bit of information but choose to remain silient so they can get their money out the club, while allowing the principals to continue fleece others then run away.

    Then they boast well, I knew ” he/she was a crook but I did not want to rock the boat so I said nothing”.

    Dontgiveadamn,

    Can you say when this this company started and how long they have been around.
    Are you an investor ? 🙂

  21. The newspapers are reporting that the Trustee in Bankruptcy, who has been appointed as provisional liquidator of Cash Plus Group, intervened and withdrew Carlos Hill’s application to stop the receiver from doing his work. Read the story here:

    http://www.jamaica-gleaner.com/gleaner/20080726/news/news1.html

    This may seem a bit confusing and I am not going to try to explain it here. But it illustrates a very important point that I have been trying to make to Olint investors. It is really very very important that you get some legal advice. By a very simple tactic, the premier league was able to stop in its tracks Carlos Hill’s attempt to derail the receivership. This would have cost the premier league very little but they acted early and used the system. A stitch in time ….

    In these situations, you have to find out what your legal options are. There will be a range of them and not all of them are necessarily going to be expensive. Also, by taking an official action (of any kind) you announce your presence to the other “players” in the insolvency game thus ensuring that they will at least think about you and your interests when they are carving up the remains of the turkey. In court supervised matters (like insolvencies) waiting and watching is NOT a viable strategy.

  22. My last sentence was a bit strong, but I just mean to emphasise my point.

  23. I thought I was the idiot for trusting DS with my money but the people who put money in “F1” take the cake.

    Those people who run F1 should be in jail.

    I’m out of the loop are there many other F1’s out there?

  24. Ja’can in FL.

    This emphasizes the point about regulatory oversight and disclosure which we have been harping on now for a long time.
    It appears that most folks including the principals of F1 simply took the “reported” gains as gospel and simply forwarded that to their clients.

    No one or very few took the time to say ” hold on a minute, can I have those numbers verified”.

    As long as the profits continued to pour in, all felt very comfortable and very rich. Even when the money stopped flowing people continued to pour in even more cash.

    I have not seen the last contract which was given to Olint investors but I am pretty sure it sought to make sure that David Smith will not be held liable for investor losses.

    Now just look at this which shows the way some folks makes a purchasing vs an investment decision

    A guy wants to by a 46″ flat screen television.

    1. First he chose a brand name.

    2. Next he goes on line and spend hours checking the specification of this tv and all information that is publicly available, including customer feedback.

    3. Next he may call his friends and tell them his plans and ask, what they think.

    4. The fourth stop is the FTC website to see if there has been any complaints or product recall against the brand and model of the product that he plans to purchase.

    5. Having now been convinced that he is on the right track, he goes into the store and further questions the sales clerk on the model in question, on returns policy, previous customer feedback and warranty.

    6. Final purchase.

    Now all that for US$1200 purchase, which is the responsibly approach.

    The very same chap however hears about Olint investment and does the following.
    He ask the following questions?

    1. How much interest they pay per month and are they paying and how long have they been paying ?
    2. Are they regulated? He hears no but is told they will not as it will reveal their trading strategy and they don’t want that to happen as the banks will start competing thus reducing his returns.

    Satisfied with what he has heard , he “invest” US$50K.

    So he spends hours of research to spend US$1200 but very little time to invest US$50,000.

    Chances are the US$1200 television is still around, but the US$50K is gone.

  25. Jay:

    A brilliant analogy!!

    I have a very basic question…something we have all overlook. We see all these folks on facebook and on these blogs proclaiming their eternal love and conviction in DS/Olint. But….if that is the case….why is there such a HIGH encashment level, to the point where it has, for all intents and purposes..crashed the so-called CLUB? Why publicly champion this call for prayer and patience and at the same time pulling all your funds out. Doesn’t that, on the surface at least, appear hypocritical?

    Could one of DS’s vocal supporters answer than basic question? While you are at it, maybe you should disclose (in the interest of transparency ) the amount of your “encashment request” (as a percentage of the total available funds in Olint).

  26. again, Who’s F1’s Steve Palmer? Can an investor answer me that?

  27. also, any links to cliff hughes’ interview tih al miller yesterday?

  28. Encashment request $50K as a percent of total almost 30. Request in two parts Feb and April.

    Jay you guys have the time and money research what you want to find out in South Africa, Zambia, UK, Florida and in JAmaica. I know you can do it. Start with the Teflon Don. Then talk to K Kuanda

  29. Why has F1 sued May Daisy, but it waiting for Olint to pay or give them further word.

    What is the difference ?. they are not collecting for their clients from both schemes.

    Seems F1 is closer to Olint

  30. The man dem is brethren. Steve is a good youth. Better businessman than DS.

  31. DONTGIVEADAMN:

    So, given what you just said, who is Steve Palmer? Give us some background information?

    BTW, when were you planning on pulling out the other 70 %? What % was original investment? Did you get back more than you put in?

  32. F1 DISCLAIMER:

    Nothing contained in the attached Website should be interpreted as an offer to sell or trade in U.S. Securities. None of these transactions made between F1 Investments Inc. and its’ clientele in Panama have been registered under the United States Securities Act of 1933 and 1934. F1 Investments Inc. has made no Blue Sky filings or State registration with regard to any of its claims made on this website. No Broker or Dealer licensed in the United States has access to or trades with F1 Investments Inc. F1 Investments Inc. is not a Bank and is not a custodian of Securities. Individuals who trade with F1 Investments Inc. do so at their own risk. F1 Investments is a high risk, high yield investment opportunity that is geared to high net worth non-United States investors who do not rely on the F1 investments for their day to day financial needs. F1 Investments Inc. does not wire money to the United States. Individuals who wire money from the United States to F1 Investments Inc. do so at their own risk and are encouraged to seek advice from their own Tax and Securities Lawyers. They may lose all or a significant portion of their investment. F1 Investments Inc. has no Agent, Banking Representative, Securities Dealer or Correspondent resident in the contiguous 48 United States, Alaska or Hawaii. F1 Investments Inc. does not operate in Puerto Rico, Guam or any other United States Possession or Territory. Information about F1 Investments Inc. can be obtained from the Panamanian Corporate Registry.

    CONTACT INFO:

    1-305-767-2273
    1-305-517-5455

    I guess there are no US investors in F1!

  33. Good comments. People who draw the most like every month for years then turn around an demand that no one complains. Whenthey were clogging the office no one could talk to dem. Now as usual they want to dictate the pace and tell everyone else what should or should not be done.

    Why? Because they are motivated by pure selfishness and personal greed. Whether christian or not they can only view things from one perspective. That is their own.

    ^*%**$%*%(*$*&^&*$ DEM!!!

  34. ‘even if wi lef di gully ….don’t worry….don’t worry…..we nuh gone nuh wey…..we nuh gone…

    ‘even if wi lef di gully…..don’t worry….don’t worry…

  35. What scams!!

    F1 said they closed the Gold Fund, but on the website

    http://www.f1investmentsinc.com/

    They said they reopened the Gold Fund on July, 16 2007.

    Gold Fund
    Gold Fund is an adequate risk fund, which has proven itself over the years to be a consistent and positive earner… Read More

    Overview
    The Gold Fund is an adequate risk fund, which has proven itself over the years to be a consistent and positive earner. The fund is traded with a comprehensive risk management plan as its primary objective and is complemented by the traders’ experience and keen knowledge on technical analysis which has propelled it to its present status.

    Details
    The Gold Fund and the trading account are maintained in US Dollars.
    All trades are conducted on the OANDA Corporation Trading Platform, a leader in the currency trading market.
    There is a high risk associated with currency trading. Due to the 20:1 leverage used by this trader, should there be any losses; the trader equity management plan ensures that the total losses do not exceed 20%. Your account is therefore protected for 80% of its value.
    Minimum investment of US$1,000.00 is required to participate in the Gold Fund.

    —–

    F1 Investments addresses May Daisy issue
    Posted on July 8, 2008 by investforlife
    “We will be presenting a breaking down of the counts as listed in the lawsuit filed by Steve Palmer and F1 investments soon.”

    You probably not posted your analysis because it is a big ugly picture.

    —–

    kullcull, on July 26th, 2008 at 10:40 am Said:
    “Why has F1 sued May Daisy, but it waiting for Olint to pay or give them further word.”

    You sue where the money is at. You sue to recover damages where fraud has occured. You sue to get your justice. You sue to get answers.

    —–

    F1 July 8 2008
    “F1 entered into a contractual relationship with Miss Ingrid Loiten of May Daisy Corporation, to perform some of the trading activities for an allotted portion of funds on behalf of our clients, and Miss Loiten has seemingly performed well in relation to her trading. In light of the challenges of the Industry and to ensure the protection of client’s funds, F1 re-structured its arrangements with its Traders and requested the funds held by Miss Loiten with a view to doing same. Miss Loiten has failed to comply with our requests for the transfer of funds, inclusive of gains made through her trading, within a reasonable timeframe and to date continues to hold the funds either in banks and/or on a trading platform.”

    —–

    I am the person who broke the NFA complaint to the public here and indirectly to the group of Olint “special investors” who called David to ask to “show me the money”.

    —–

    End of game should be occuring at the end of the month or the end of the week. The NFA complaint shows where the money is and who moved it around.

    When the investigation ends, the details will blow your mind.

  36. ‘even do wi lef e gully……we nuh gone nuh weh…don’t worry…’

  37. Davesin with all due respects boss you will have to do your own research on MD and F1. You wont get anymore info from me on my dealings with O.
    Remember you have the money and time.

    AML it look like the trail leads straight to IM and JM and the MTI group. Serious though I kinda think those guys fishy bad.

  38. Breaking News!!!! Platinum Fund reopened on F1 Investments: States for limited time only. Check this site: http://f1investments.com/

    To all who wish to heed: Beware of the motive…..

    Am sure i have read on the internet some time ago that F1 s the baby of DS’s OLINT

    Can any one shed some light on this association:
    Personally i think they are one in the same and not just an independent feeder. What does the community think?

  39. Just-in-Time,

    Can you tell if anyone of the reported 16 or so investment schemes that were identified by the FSC as being operated in Jamaica is still paying its clients.

    The answer to that question will show the link between these AIS and Olint. :>)

  40. so noone knows who this steve palmer fellow is huh? but people are giving his f1 investments their money?

    can’t someone tell me anything about steve palmer?

  41. Tek time people. David soon get yuh money back.

  42. Steve Palmer may not be the mans REAL name?

    I am hearing about somebody name terrence…

  43. @jon

    not sure who SP is but I am aware of 2 other directors in the company who are close to DS.

  44. @miachica

    u are correct.

  45. Aren’t the guys pilots? 🙂

  46. @dontgiveadamn

    well…………..

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