Olint funded both the JLP and the PNP

What we have suspected for a long time now has finally bubbled to the surface, as both political parties have now admitted receiving campaign financing from the embattled forex trading entity , Olint.

Both major political parties have admitted receiving money from the collapsed David Smith-led Olint Corporation, to finance the 2007 election campaign, which is now under investigation for alleged money laundering.

Treasurer of the ruling Jamaica Labour Party (JLP), Christopher Bovell, denied that Olint donated US$5 million to the party, although admitting that the investment club donated to the JLP’s campaign fund.

Responding to queries, chairman of the opposition People’s National Party (PNP), Robert Pickersgill, dismissed claims that the party got US$1.3 million.  “To the best of my knowledge, Olint donated US$200,000,” Pickersgill said yesterday. 

It was widely being rumoured for sometime now, that this was the case, but now it appears that all the parties are coming clean as it relates to their involvement with the forex trading company.

As can be seen in the Sunday Herald, it has been reported that over US$300 million may have been withdrawn from the forex trading company by political bigwigs aligned to the ruling JLP, leading its(Olint)final demise.

If true this raises a few questions.

  1. What did these guys knew that most other investors did not. ?
  2. Now that Olint is under investigation for money laundering, does this government have the moral fortitude to investigate Olint’s operations.?
  3. How many members of the ruling party had investment in Olint ?
  4. Since Olint was operating illegaly, does these earnings by these political big wigs fall under the proceeds of crime act?

Full article can be seen here.

http://www.sunheraldja.com/article/show/1294



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144 Responses

  1. Story coming to bclkuat bump! Christian…..Christian?…….Chyristian weh? inna church…..yu nuh find christian eena church…..

  2. Confession a roll out since the court cases…….loiten deh whey? south Africa? She think she can stick her head in th sand? hahahahaahaaaaa

  3. and the saga begin to unfold…

  4. and the saga begin to unfold… what next?

  5. Is our money dem get and wi want it back

  6. Pastor, mi case an bring di money come

  7. Lawd Jesus if yu think the crime was pon wi before….lawd Jesus…dem a teif an tek all di pretty car whey AIS money did suspected to buy…lawd Jesus. Why CH and IL and JM and the rest can’t just come out on t.v and tell the truth?

    A so dem wicked?….lawd Jesus….lawd Jesus

    What kind a Christmas we ago ave? Wid all general election pon tap a dis?……lawd Jesus

  8. “To the best of my knowledge, Olint donated US$200,000,” Pickersgill said yesterday….

    “It is said that US$80,000 was donated to one candidate in central Jamaica, while another in eastern Jamaica benefited from US$20,000 monthly …..”
    a suh DS did jus a give way people money…
    him heartless..

  9. Any time yu her bout tiefin money yu always hear bout politicin wid it

  10. nuh mney nuh lef… bastards..

  11. tru..
    de media fail wi… dem late wid the news. nuff people ago suffa..

  12. Jamaican woman always a wash blood from dem gunman babyfadda clothes dem……..

    The women inna dis ting…..unno can’t talk to unno man dem?
    Can’t beg dem have mercy pon di peolple? Or is nails and hair unno want get did?

    Nuh Unno same one stuggle fi bring pickey com 9 months eeena dis World?

    Unno kyan beg mercy fi suffera?

    Unnno mussi HEARTLESS fi true….fi deh wid all dem wickid teefin people deh….

  13. “To the best of my knowledge, Olint donated US$200,000,” Pickersgill said yesterday.

    If the above is a true statement from Pickersgill then he needs to pay back the money.

    Also if David Sin could waste such money. Why the bumbo he cannot invest the same amount in a real business like a Yahoo killer or the next Google built by local Jamaicans?

    David, last time I spoke to your brother he said things tight, not until June 2008. Funny he was willing to accept a US$5,000 (not directly of course) to open an account for me or anyone, but could not find a US$5,000 to invest in a Yahoo killer for the Caribbean? Amazing to say the least.

    But no matter what, to tell you the truth man. I think you can pull it all off. Some how, I get the feeling that you are as smart as you look. So, make my future story a smash, and defy all the odds and pull it off. No joke. Serious talk mi a talk here.

  14. Where has the Olint CEO been in all this. Did he retire with a golden handshake and the dinasour nest egg and parachute.

    No send off surprise party?

  15. Bwoy, DS allowed the politicians to make a “poppy-show” out of him. Did he really believe that these “fat cats” were going to allow him to return to Jamaica. Bwoy, was he taken for a ride and an expensive one at that.

  16. Lawd hav mercy—-we hav fe wait L-O-N-G now. Government involve inna dis now…………

  17. Okay,

    I have noticed all recent comments and responses are regarding the church and politicians , well what about this which was also written in the same article ….

    Sunday Herald probe revealed that US$467,000 and J$8 million are held in local Olint accounts. Last week, the club’s accounts in the United States and the Turk & Caicos Islands were frozen.

    I guess this would only be important to those who where actually wondering ” weh dem money Deh ” Huh !

  18. and the plot thickens!!
    i see mark wignall is also planning a tell all next week. he’s promising to have a sit down with ds and he, mark wignall, sayshe’s gonna “tell it as he gets it”.

    mark having had the wool pulled over his eyes for so long is about to have his eyes completely removed this time. i expect ds to wax lyrical about the system, the fight and of course the so called 300mil taken out in december. i expect that mark will be has last remaing pr option to by himself some time. he will implicate politicians, casting them as complicit and corrupt and ultimately the cause of the o’s demise. nothing to do with ponzi of course, that way he would be implicating himself, lord ds can’t do that of course. mlc and wc will prob now get a break as the o sniffers will have new targets to spew their rumour induced venom at. for sure, it wont be any clearer.

    May God Help US.

  19. Watching closely:

    You are right. If true, to investors that was one of the most relevant points in the article . So far the press has reported that there is only about US 1/2 million in local accounts and about US 3.7 million in FXCM. So far not much money is being found and this does not bode well fro investors ability to get any money and seems to be indicating the true reasons for non-payment was Olint was insolvent.

  20. Wignal

    The “full hundred” is going to be changing so fast next week I really don’t see how an article next Sunday can represent a “full hundred.”

    Also Mark, is “the full hundred” of any relevance now? DS has had ample time over the past nine months to give a “full hundred.”

    What has changed? Why would DS give the full hundred now? What is different? What would drive him to come and give a “full hundred” since last week Thursday?

    Furthermore the impossibility of the “full hundred” is already history as contrary to what DS feels there are parts of the “full hundred” now that he does not know!

    DS does not know what is going on around his “blinkers” with other people. No Mr. “know it all is in control.” He has never even tried to find out what other people are facing.

    DS is unable to understand the levels to which this thing as gone. He thinks he is under pressure? He thinks he has a monopoly on pressure?

    Mark…..maybe you can start with the question. “why bother to talk at this late stage….when you could have done something like this BEFORE it got out of your hands as it is now.”

    DS is not in charge of the fantasy Kingdom any more.

    The best you might be able to do Mark is make DS aware of this.

  21. Show me your freinds DS…..and I’ll tell you who you are.

  22. Again this is not BREAKING NEWS. Media late with publication. People on the street done know this already. Open secret that Olint donated big money to the politricksters(both sides) who eat him out and then hang him out to dry. Ah bwoy they make a fool out of him bad. God nah sleep though. Sir Bruce you especially remember God nah sleep. Yes mi fren LOL

  23. Sirach him should ah drop the “full hundred” from November 2007. But yes he thought he was in control. He did not know what he did not know and now he is truly clueless. God nah sleep though and him take care of fools and babies.

  24. DS allowed his association with the Prado driving crew whose insecurities make them behave in distastful ways.

    That is fine. Who cares?

    The Problem:

    Smith facilitated such persons to call down almshouse on the innocent.

    The Lesson:

    The non flash types carry integrity and credibility beyond the value af any billions and trillions etc.

    The Prediction:

    It is David who slew Goliath…..not some Prado driving twangist who dem call “come see.”

  25. DS is versed in physics. For every action…there is a reaction.

    To act and expect no reaction is to play GOD.

    No human being is God.

  26. How did the media get hold of the man (olint) bank balances? What they should be looking at is the balance in DS/Wife account…maybe in Cayman!

  27. The reputed $US 300 million that was withdrawn by political big wigs seems to be a repeat of the first rumors for delayed payment. Recall back then it was supposed to have been removed by Is$a and Wignall seemed to say he denied it, so now it was supposedly removed by political big wigs. Because of the changing story line I would not give it much credence unless we see proof. Seems like part of the continuing series of rumors for the demise of Olint.

    There is another subtle point. On the surface it appears that maybe only a few insiders and people close to Olint/DS likely had direct info that DS was running a ponzi. Recall that there were rumors of big investors being recently reassured that there were large sums on the trading platform (Oanda) and that it was to be released in coming days. Apparently they were shown documents to that effect. Again these are rumors but if true, it would seem to indicate that they too were duped about the true nature of Olint,

    There is another point… It seems to keep recurring that since the money in these schemes were proceeds of a crime that it will be forfeited to the gov and investors will not get any back. I believe it was an attorney that was quoted in the Gleaner saying this. Just because someone is an attorney does not mean they are familiar with all areas of the law. In light of the process going on with C+, the Receivership, PLA suit… it would definitely appear that she is not correct.

    Remember the typical investor did not knowingly participate in a crime. They thought and were misled into believing that their investments were legit, FX trading etc. Further until the FSC raid in 2006 there was no legal reason to believe that these “clubs” were conducting business illegally. And further Olint/Lewfam sued and the case is pending final appeal.

    There has not been any final determination that Olint was operating illegally. The issue of ponzi scheme is separate because unless investors had definitive reasons to know that they were giving money to an illegal ponzi scheme, the “club” stated they were trading FX and there has not been final legal declaration that Olint was illegal. This is all separate from the fact that common sense analysis should have indicated that these clubs were ponzi schemes.

    I do not recall that there has been a stay of the Cease and Desist Order from the FSC, pending final appeal. So new money accepted by Olint from Jcans after the C&D was likely illegal.

    However if someone after seeing the demise of C+ in Oct/Nov 2007 and the ruling of the court against Olint in Dec 2007 decided to pull out, this does not necessarily indicate the had inside knowledge. They may have been acting like all the other investors that started the run from Dec/Jan on because of what had happened to C+… If they had large sums invested it would have exacerbated the run. If big wigs withdrew money one can ask, Did they know something… not necessarily, What did they know…

    Some of this may just be giving ideas of what arguments to use to the bad guys 🙂

  28. The term “RUN”

    Run on a club that is 90odd percent liquid cash? If you run on a bank that has fixed assets…long term assets etc. O.K. they could be in problems…..but a run on liquid cash??

    How does that affect the viability of the club? Even if investments went to 100,000$ then in 9 months you could be up again.

    Is this not what has been said?

  29. One question though moderator. Your number 4 say since Olint was operating illegally…but is that really correct?. Olint TCI registered company in Turks and regisitered in Turks with their authorities. This was from 2006. You have to account for that . I dont think # 4is a right question. I would like too see some discussion on that part because we keep talking about them being illegal.Whether we like it or not turks is a another country and by their laws Olint set up there, register and continue their operations. I dont know but is there any law in Jamaica that make it illegal to invest with a company in another country and is operating legally there?

  30. If your accounting is flawed. And you know about it. And you hide it.

    Well ….what unno think?

  31. @NoCotec
    ” So new money accepted by Olint from Jcans after the C&D was likely illegal.”

    That is why it appears there were the “affiliate/feeder clubs” and the “pigs” to deal with that issue. The money went to 3rd parties and then to OLINT. Concealment? and to propogate the lie that Olint remained strong even after the C&D with no new deposits…

    And then later money went to “OLINT TCI” vs “OLINT”

    @DaveSin
    How did the Media hear about Trafigura?

  32. Sirach: The word run is appropriate because that is what can and often happens to a ponzi scheme. It is only inappropriate if Olint was actaully a legit Fx trader and who truly believe that now…

    DONTGIVEADAMN:

    If there was no stay on the C&D order against Olint or Lewfam then to continue accepting money from Jcans was illegal. Apparently up to very recently Lewfam has been actively soliciting money from Jcans. And was it not very recently (within the last few months) that Olint TCI actually started allowing direct contributions from individuals? Individuals, feeder clubs and piggybackers were still sending money to Olint. I believe it was recently that they tried to convert Olint account holders to Olint TCI.

    Olint TCI may have been registered in TCI. I have not seen proof that they were registered to trade securities but they may have been. OLint in JA I do not believe had a stay or variation of the C&D to accept new money.

  33. John Doe

    So what happens when the members of the feeder clubs and the associates of the pigs start to sue and employ other pressure on people who took their funds?

    Do they get refered to DS?

    No.

    Does DS help them while they run?

    No.

    Do you get lip service on the media?

    Yes.

  34. @DONTGIVEADAMN re:#4
    We we correct it to say “if”.

    However it if is proven that OLINT not OLINT TCI collected money after the C& D then OLINT would have operated illegal.

  35. @sirach

    All I have to say that this is one big sad mess….

  36. JohnDoe:

    But if the pigs and feeder clubs/affiliates were Jcans or Jcan companies then Olint accepting the money would still be a violation of the C&D. I do not think that was a legit way to get around the C&D. But it certainly was a way to keep getting new money while creating an illusion that the “club” could not be a ponzi since no new clients were being accepted.

  37. nocotec the conversion from O to OTCI start from in late 07 and from then some people were opening OTCI acounts . In Dec O members were also reminded to finish signing up the new forms and send in all requested documents so that the club could finalise the conversion and also satisfy the regulatry requirement in Turks.Yes you right after the FSC cease and Desist O could not directly take new members but people simply joined feeder clubs or gave the $ to family/friends who were esiting members. Did the C&D specifically prevent existing mebers from increasing their margins?

  38. @Nocotec,

    I would not be surprised if you are right and I think so too, but I will defer to the legal minds. False representation?

    Remember too that many persons thought they were investing in a different clubs or diversifying and are now discovering that their money possibly was with David Smith or Ingird Loiten or Gareth Harris and who knows others, if not all of them

  39. JohnDoe:

    That was a rhetorical question 🙂 . This only furthers the conspiracy theory even more!

    The point is, we heard people saying they have all these links at the “bank”, concerning the wire that supposedly came in and returned. Yet, none of these sources leaked what the bank balances were!

    The issue of whether Olint/Olint TCI is/was an illegal entity does not comport with the issue of whether or not they are running a Ponzi. You can be a “legal” entity, but still be running an “illegal” Ponzi scheme.

    The point is the Attorney is correct in her interpretation of the law, but the courts might choose, as a matter of (political) expediency, to rule otherwise. Let’s face it, two judges had ruled that both C+ and World Wise bank accounts could be closed by the banks (lack of audited financial statements), yet the appeals court have ruled that Olint’s accounts should remain open, pending the civil suit against NCB. This rule is certainly conflicting, given the C+/WW precedents.
    It will be interesting to see if Olint continue the lawsuit against NCB, now that the balances in their NCB account is now public knowledge. After all, their only reason for this suit was to give the appearance of stability of Olint. If, NCB had closed their account, it would only lead to more of a run on Olint. Olint has the ability to wire funds to individual accounts from overseas bank(s), so why waste money fighting NCB.

  40. Cease-and-desist means = stop ALL activities; old/new period! Go no further………….

    LewFam and others claim they do not accept money from US clients. Right?…..Right! Yet they have offices in US and/or US contact numbers (F1 – Miami).

  41. DaveSin…
    1 .Well the judge has to be fair. OLINT has raised “fair competition” and other arguments. The judge has effectively said that in interest of justice that these “arguments” must be allowed to be ventilated, given that it will have significance in future rulings.

    2. Those figures might not be true, it could be rumours to further depress people or it could be true. If the are true it beens that there is just under US$ 578K [i.e US#467K + US$111K (J$8 million) ]. Not a very comforting number

    3. Also if you read Court Documents on NCB website every now and then references are made to the amount in bank accounts at different periods.
    see: http://jncb.com/docs/Olint_v_NCB_-_Judgment_in_Interpartes_Hearing.pdf

  42. We are instructed to pray. They can pray quietly in the Pew. What I ask them is this: How do the people who are now running get a quiet time to pray?

  43. Who is in charge? Who calls the shots? i hope they know the true gravity but I really think I am being foolish to hope so.

    Unno give Olint your money. But do you know who calls the shots?

    You sure you know?

  44. Wignall don’t know. Otherwise he would be interviewing somebody else.

  45. Nocotec ,

    There is supposedly big “`funds ” sitting with oanda.
    the amounts listed so far does not include funds from oanda.
    This was the amount frozen by TCI. authorities .
    TCI authorities have not released any info on what they have frozen , at least to my knowledge… Word is the great one said the oanda monies was what was frozen in TCI……………

  46. Sirach,

    You seem to be dropping a lot of hints, but I still cannot figure out who is the person you are leaning towards, who is really “running” things. Is that person JR ? 🙂

    Again if you have info, you can email it to the address as noted on the top left hand corner of the this web page.

    hyipmyths [at] yahoo [dot] com

  47. Can TCI authorities freeze money in Canada (Oanda)? If so, why didn’t they freeze money at NCB, FXCM and Itrade?

  48. Guys,
    The #4 bus is making the following report, I really wondered how long it would take for someone to come up with this explanation as to where all the money has gone.

    This was said to have been reported by one of the “piggy backcakers” (Not sure which one it is)

    Dear Club Members,

    We apologise for not communicating with you before now, about the situation concerning your investments.

    We advise, the funds invested were placed with the trader Gareth Harris and Mr. Tony Williamson who has someone who traded for him.

    Mr. Tony Williamson declared in March 2008 that the funds were lost in trading platforms. Gareth Harris also declared that the funds were lost in trading on I Trade FX in March 2008. This was a result of the hostility being experienced by the Jamaican Traders in the industry which led to their trade being spiked causing them to lose funds on the trading platforms.

    However, we hesitated to inform you as both parties were taking steps to recover the sums. With respect to Gareth Harris, he informed us that he was testing other platforms to try trade and recover the funds lost. Mr. Harris had indicated that he would have been on target for payout in October 2008. However, the test is still not completed and an additional 2 to 3 weeks is needed before completion. At which time we expect the recovery process to begin.

    Mr. Williamson declared that he had placed funds with OLINT and had promised to pay when those sums were received from OLINT, but OLINT is now experiencing problems and have said that they are requesting nine months to repay their investors.

    In light of all the above, we tried to avoid alarming you as we were getting assurances that if all went well, payments would have been made to us within an anticipated short period of time to enable us to honour encashment request from our members.

    We do ask your patience and restraint at this time as there is hope, but the recovery process is time sensitive.

  49. Monday, March 03, 2008

    “Wealthbuilder which is owned by Tony Williamson, said it had been informed by Olint that because of “excessive encashment demands” over the past few months, the main account of their broker “has come under the extreme scrutiny of their bankers, Wachovia” in the United States.”

    http://www.jamaicaobserver.com/news/html/20080302T180000-0500_133125_OBS_RUN_ON_OLINT_CAUSES_DELAYS_IN_PAYMENTS_.asp

  50. The money was supposedly wired from Oanda to TCI , where the authorities acted …..says the great one .

  51. Jay

    i not reading JR but i don’t think that is the person.

    As for the hope referred to…Hope for who?

    Is it that the people who are in need of hope (and a lot of other things) are continuing place the burden is on “investors?”

    If these other clubs need hope etc. It is they who need hope. Not anyone else. They make it seem as if they are indemnified in some way from the money that was placed with them.

    They have a lot to learn.

  52. Recovery? Whose recovery?

  53. @Jay… see the info here that you wanted for Tito

    https://investforlife.wordpress.com/2008/07/25/david-smith-sued/#comment-5425

    I also throwing something else in the mix.. and I quote…

    “The Fund is held in cash in one or more trading accounts with Oanda Corp. or I Trade FX, or FX Solutions (the “Bank”). The balance in the trading accounts is the money that the fund uses to take speculative positions in the currency market. Cash not immediately required for investment purposes will be held in the trading account with the Bank and shall earn interest. It is a policy of the Bank that funds in the trading accounts may only be released to the Company.”

  54. JohnDoe:

    Do you have all these Olint related links in one place on this site? You seem to come up with them quickly! Maybe you should compile a list under separate heading and key words (if schedule allows). Just a thought.

    Jay:

    I saw the post on the other site. What I found interesting though, was that site is dead set against members divulging club communication on their blog, yet no one questions the posting of that email.

  55. Time to recoup?

    You think any platforms want these TW, GH, DS??

    Oh yeah…the banks going to give them their own T3 lines…yeah right.

    Think again

  56. Jdoe,

    That is correct funds sent to Oanda ,can only be returned to the original destination from which it was originated . If DS sent money from olint TCI to Oanda, it has to be returned to Olint TCI., before it can be wired out to another destination .

  57. Jay:

    It appears that:

    a small Pig => bigger Pig => to yet another Bigger Pig

  58. Dave,
    That is so right, now we are seeing a rather complex web of activities involving;

    1. Feeder Clubs – Incorporated companies.

    2. Members who have sought to allow new entrants to ride on their backs. (pigs)

    3. Churches who formed their own clubs, and took members monies to invest on their behalf.

    4. Other forex clubs who listed DS as one of their traders. eg Wilshaw

    5. Ordinary “investor” who were wiring money directly to Olint

    6. A political party whose members “invested” and used the monthly proceeds to pay for the last election.

    When the dust has been settled on this one, it will show an operation which has its tentacles spread far and wide and involved a lot of persons merely moving moving from one persons to the other ie funds was being moved between clubs, with seemingly very little trading activities taking place.

    This must be the biggest “Con” game in the history of the Caribbean.

  59. JohnDoe,

    Thanks for the reposting of that info above on the TCIFX prospectus.

  60. This article appeared in the Grenada Newspaper today.
    As can be seen persons are already lining up to file lawsuits.

    Of course some of the information we already knew.

    http://www.belgrafix.com/gtoday/2008news/Jul/Jul26/US-currency-scheme-runs-into-trouble.htm

  61. I read a ad in the gleaner today in which MTI (Jared Martinez) was expressing sympathy with those who lost money in the UFO’s whilst at the same time promoting MTI…talk about a slap in the face and and balls of steel.

    I was in the MTI two day training in December when David walked in on day 2, Jared spent half an hour telling us the story of how David inspires him, how close they are, how he has seen davids trades and how phenomenol his trades sheets are, how he makes much more than 10% . In essence he validated what david was doing and point blank says it was very real as HE HAD SEEN IT!!!.

    How can he now distance himself from them even as an investigation is going on on their interaction…..

    I am not saying that the methods cant work inded they work for 5% of the world top traders, i am saying that if David goes down as a FRAUD then Jared Martinez and MTI have no credibility in Jamaica, they are all a pact of liars and frauds

    Have some shame and F@%k off MTI!!!

  62. If SGL and Olint Ja and Olint TCI and may daisey and worldwise and GH, IL, DS, WS, TS and all the rest did not give the requested amounts of money both:

    1. When their asets were not frozen

    and…

    2. When their assets were frozen

    Then why would SGL or anyone else imply that unfreezing means you would be getting anything or that things would be normalised?

    What is normal? what has been happening for 9 months?

    that’s not normal….that’s what quack-quack get.

  63. Shame? The people have no shame? MTI and JM also got paid from olint members accounts even when members could not get paid themselves.

    There is no priority for members here.

    Soon they will know the meaning of “reciprosity”

    As the good book says,” do unto others as…..”

  64. JM think Jamaica small. And he is right. But him nuh know seh wi Tallawah.

    Anyone want to translate Tallawah in Spanish for him.

  65. @lightthefuseandrun

    Well something doesn’t add up, in DS interview with CH he indicated that it is well known that the M Group trades funds on behalf of O. Yet, in the mentorship program with clients last week the M boss confirmed that he knows and trained DS but has no association with the company O….very contrary. BTW, that part of the mentorship was edited and removed from archive.

  66. Once the +-$50million (minus $35million) went into the I-Trade FX , where did it go from there? If very little trading was done on that platform, would it be a stretch to believe that I-Trade FX was only being used as a conduit for concealing the true source of funds when it reached its final destination. Was the funds deposited into the I-Trade FX platform under Olint/Olint TCI or was it under David/Tracey Smith. If the latter, why?

    When the shit hits the fan, is the wife integrally involved?

  67. Jared,

    Sorry to hear you may have lost money. I have not suffered that fate. My money deh deh. Nuh watch nuh face.

    BTW good luck on Thursday.

  68. JohnDoe
    “The Fund is held in cash in one or more trading accounts with Oanda Corp. or I Trade FX, or FX Solutions (the “Bank”). ”

    Did you know that MTI makes money on trades on the FX Solutions trading platform and the I Trade FX trading platform through these accounts called rebates.

  69. What alot of ship jumpping? unno can swim?

  70. lightthefuseandrun,

    What I want JM to explain is why 50M was withdrawn from Olint and sent to JIJ investments?

    If it turns out that olint is a scam, what role did JM play in it?

    It is obvious he is involved in this scheme along with other CHARACTERS!

    Some people get all defensive when people start question JM motives but that person will soon release that everyone is CONNECTING ALL THE DOTS.

  71. DaveSin:

    With regards to the attorney and the government taking the money and not returning it to investors (after claims with precedence) in a ponzi scheme because it is proceeds of crime…

    She is definitely wrong. The C+ case is proof… Further I think it might have been Jay that posted the links on cases where the receiver went after those with excess gains to return the money to a pool to be divided up among investors… There is ample precedence in places such as the USA and Great Britain where the courts and the gov returning the money… I think it was also Jay that posted a link where the US DOJ tells of how much money they return to defrauded investors…

    She is wrong because she is confusing innocently defrauded parties and people who were say laundering illegally obtained drug money… For example if a group of drug dealers were sending money to DS to launder via Olint with fake Fx trading (ponzi scheme)… the gov would confiscate that money. The gov does not confiscate money of innocent parties who think they were investing in legit scheme but were victims of fraudulent misrepresentation or fraudulent conversion.

  72. AML:

    I have being following your posts for a while and I think you know more than you are willing to say. You always seem to say things in an “elusive” manner. Why not show us the entire story?

  73. why did Jared, Issac,Jacob (JIJ) investments get the money?

  74. Only when the fat lady sings.

  75. Well AML we shall hear from you soon.

  76. ‘Even if wi lef di gullay……..don’t worry..’

  77. NoCotec:

    There is a caveat to what you just said. As far back as 2006, “investors” were warned that Olint is NOT a sanctioned (legal) entity and as such, carries certain risks.

    One could argue that declaration was made and “investors” continued to fund their accounts or fail to remove their funds. That can provide grounds for foregoing the funds in the forfeiture case.

    For example, sending funds to an offshore gambling entity in an effort to sidestep US gambling laws, could result in the “total lost” of those funds in cases where the “authorities” froze/seize those funds. Saying that you thought the gambling outfit was “legal” because it is located in Grenada doesn’t excuse the act nor guarantee the return of funds to its rightful owner!

    Oh, the mere fact that government did not exercise a right, doesn’t necessarily mean the right does not exist (Cash Plus case). Therefore, I wouldn’t consider the absence of that course of action as precedence! What do you think?

  78. AML:

    You did promise us something this week…Right?

  79. DaveSin:

    The counter to that is that the legal case Olint filed, though they have been losing, is not final. Final appeal pending… so legally they were not yet investing in an illegal entity.

    I think there is also a difference with the USA gambling example… In the USA you are specifically prevented from internet gambling with these casinos and visa etc are prohibited from those transactions… In JA as in the USA, GB etc, it is illegal to conduct securities business without a license… the person doing so is guilty of a crime. The person investing is not guilty of a crime.

  80. Question:

    People are saying that Olint is registered in The TCI hence they are not “illegal”. My reading of the law says that any entity offering security “o the Jamaican Public needs to be registered.

    Anyone sees it differently?

  81. I have followed this blog with great interest for some time as I too have something to lose. That said, I am encouraging the people with information to say their piece so that I can either celebrate or more than likely face the music and move on. The persons who says just a little is just like DS who has us all in mental anguish. If the news is bad, and this is my belief, just give it to us. We are adults. Whether it comes today or tomorrow, we will have to deal with it. I, like many that I know, would prefer to deal with the news today rather than tomorrow[more time to catch up].

    AML: Its is of no use saying what you know after the fat or slim lady has sung. Please let us have it now. This way, there will be more time to catch up and hopefully finish the race. If you are afraid of legal reprocussions then tell us a story and add the usual disclaimer. Use aliases if necessary.

    By the way, I have not seen this issue raised anywhere so please allow me. Among DS’s claim is one of accounts in shambles. If this is the case, how does one calculate %. E.g if you gain $10 but does not know what your amount was invested with you, how do you know what % the $10 represents?

  82. mti/jm=rats and sinking ships.

  83. Robin Irie:

    Yes, you are correct. Anyone soliciting or offering securities to the Jcan public needs to be registered. But it does not stop Jamaicans from taking it on themselves to send money to an investment company in the US etc. It is the difference with say Capital Blu and why they are on the FSC list… if you come to JA put on seminars and then email attendees with how to invest and offers of promotions then you are soliciting business and need to be registered.

  84. DONTGIVEADAMN said “I dont know but is there any law in Jamaica that make it illegal to invest with a company in another country and is operating legally there?”

    As far as I know an ordinary person in Jamaica is not legally prevented from investing overseas whether the company being invested in is “legal” or “illegal”.

    On the other hand, it is illegal for any company or person, whether local or foreign, to deal in securities or offer securities to the public in Jamaica without being licensed or registered. Olint TCI’s relationship with investors in Jamaica is worth examining, as are the operations of the Olint office in Jamaica.

  85. Robin Irie

    I did not see your post when I wrote my last. You are correct.

  86. Seems they all thought this would fade away like CH and Cash plus.

    Thanks to investforlife there is no fading away. Even the hits been beating onserver and Gleaner for weeks now.

    Perhaps investforlife can launch into a proper publication looking out for the people?

    Instead of being a tabloid with “Thursday talk.”

  87. Like you know who….Thursday talk hahhahahaaaaa

  88. nocotec

    I didn’t see yours either. I agree with you.

    Earlier, nocotec said “The counter to that is that the legal case Olint filed, though they have been losing, is not final. Final appeal pending… so legally they were not yet investing in an illegal entity.”

    The way it works, as I understand it, is that the entity was illegal from the moment it broke the law. The cease and desist orders only served to reinforce the law and put the recipients and the public beyond any doubt that the regulator had found it to be so. The orders stand until overturned by a court, which has not happened yet.

    The stays were allowed in order to “preserve” the status quo. They were granted on the basis that Olint did not add new members. The judge was persuaded that the members felt they were in a club and could not be compensated by money if the court later found that their rights were violated by the FSC. So existing members could continue to invest. I heard that the judge ignored the FSC lawyers who told the judge who granted the first stay that this would open the door to pigs (the term had not been “invented” at the time). Could the Court of appeal in the NCB case be just as misguided and out of step with modern finance?

  89. Was there ever avote by Olint members approving donations to political parties?

    The management just takes your money and arrogantly decides where it should go.

    Which other club could try to give PNP/JLP $$$ without the consent of members (all).

    Which decent political party would take such a donation? Knowing that the thing is a club and that widespread consent for such action was not there?

    Are there really silent partners in the club as theorized lately……and is it an activist group for the political parties?

    Wignall

    You writing down the questions for the boss?

  90. Did Olint give PNP/JLP money before or after the accounting “flaws” existed?

    If Olints accounting is wrong as they say then how can they try and say in the same breath that the money they spend is not the clubs own?

    The clubs accounting is wrong and the personal accounting is bulletproof? Well just let the personal accountants do the work for the club.

    Wignall …you dig?

  91. Whether Olint is legal or illegal in Jamaica is a question of major consequence. But let us look at this from another perspective. From the investor’s point of view, it is significant whether Olint was issuing securities to them in Jamaica. If it was, then, whether Olint was registered or not, the obligations imposed on issuers and dealers in the securities act will apply to Olint and its officers and employees. These obligations cover the standard things like full disclosure and misrepresentation.

    The police ought to be readying charges, but are they? Are they still cooling their heels because no one has complained (like with Higgins Warner)?

    If such action got going, then more assets of DS and company could be frozen, the “big” investors would be implicated and their assets also put at risk. This helps small investors and would cost them nothing.

  92. Both political parties have questions to answer…there was a cease and desist from the FSC under direction from the Ministry of Finance yet they still accepted funds. Mr OD former finance minister believed that this org was not legal or sustainable…yet still he accepted funds…

    Both parties need to stop the hyprocricy…if there are funds available – which are not tainted the govt needs to take the lead to defend the citizens of Ja.

  93. Will the JLP/PNP take a page out of the Trafigura thing and pay the money back with utmost speed?

    Or will they say no and open up their middle stump to international scrutiny?

    Wignall…..Wignall….you wan me do the interview?

  94. BUT Olint was clever. Maybe not clever enough, but clever still. The got their “members” to collude with them in seeking to avoid the scope of the Jamaican law. So, for instance, Olint TCI no doubt operating in such a way that it can claim that it was not dealing “in” Jamaica. Investors willingly cooperated in the charade. Will they be allowed to have their cake and eat it by going to court against Olint claiming that they didn’t understand all of this? Most of them will face an uphill battle, I am sure.

  95. Bob i see your point but perhaps the Jagans just locking a hole in order to go into other jurisdictions?

    What u think?

  96. sirach

    What is a Jagan? Excuse my ignorance.

  97. Like hunting wild hog. you block of certain parts of the bush and then let the animal come out into the place where there is nowhere to hide.

    These Jagan are smart. Don’t think we should underate them just yet.

  98. A Jamaican

  99. @mk
    That is why the country is in such a mess. There is no leadership and the leaders talk out of both sides of their month. The confirmation of what was rumour to some of us, and knowledge to others, just shows what a mess we are in.

    @bob
    Thanks for pointing difference between a business soliciting business and investors investing their funds in a investment house anywhere in the world.

    The other thing is I back your, and others, call for persons to report the problems to the police. Waiting in the wings is pointless.

  100. Questions

    1. In new contract that club members signed recently, was it with Olint or Olint TCI.

    2. What does Hallmark Bank & Trust has to do with OlintTCI.

    3. Did all members move from Olint to Olint TCI or just some?

  101. If politicians and “leaders” civic and otherwise put moneyin olint then civil servant of a lesser order probably do too.

  102. in a a past article “How Olint Survived” we touch and alot ot the issues being discussed here.
    https://investforlife.wordpress.com/2008/06/06/how-olint-survived/

    Maybe is time we look at version 2…

    What was the role of OLINT’s offices in Jamaica post March 2006?

  103. It would appear to me that most club members would have no legal protection under the Jamaican law as it currently exist.

    Olint was barred from accepting new members and moved to TCI, however the C&D order still remained in effect.

    As pointed out by Bob, Nocotec and Robin in previous post, if OlintTCI was soliciting investors in Jamaica they would be operating illegally as they would have to have the requisite license in Jamaica to solicit investors.

    OlintTCI has no office in Jamaica and DS though a Jamaican National no longer lives in Jamaica, so what is the legal recourse for persons who invested with OlintTCI.

    I guess that is why the recent lawsuit was filed against David Smith and not OlintTCI

    Are the bank accounts that are held in Jamaica in the name of Olint, OlintTCI or David Smith.

    1. If Olint, then investors who signed up with OlintTCI (IMO) would have no legal claim to those funds .

    2. If OlintTCI, then how would they file a lawsuit against a company in another jurisdiction.

    3. If David Smith, I can see them having claim to those funds if the lawsuit is sucessfull.

    Any legal minds out there, can help us with this one.

  104. good questions Jay

    i hear all the legal minds are currently very busy.

  105. Will DS always be able to live in TCI?

  106. Jay and JohnDoe

    These are very good questions. Given the self-professed inadequacies in accounting and the other evidence suggestive of commingling of moneys under the control of DS and any and all of his “companies”, a litigant would have a good shot at all of them. The investor needs to go against all of them and oblige them to come into a Jamaican court to contest the claim. They may not and he will get a default judgement. The challenge will then be enforcing the judgement in another jurisdiction, but that is a lot easier than trying to make a claim in the foreign jurisdiction.

    It’s still pretty amazing to me that lawsuits in Jamaican courts haven’t dropped on DS, etc like rain. But then, the whole behaviour of Olint investors has been exceedingly strange from beginning to end. I am curious to understand the phenomenon and can’t wait for the Ponzi Nation book that one of the bloggers on this site is planning to write.

  107. Thanks for the explanation, sirach.

    Some Jagans are smart, the rest are proving to be just angry sheep, make a whole lot of noise but get chop same way.

  108. Bob

    Truth be told most of us are stunned and want not to believe. On top of that many of us have loans being called in on cars houses etc.

    These add to out catatonic state. We want to believe even in the face of the facts.

    When we invested with CH and Cash Plus we were ready to tear down NCB. Since it has been proven that the theif took our money we have not even recovered our own morals and apologised.

    Many of us need to take the advice of Leachim Semaj but we don’t. Instead we hang on to the only bit of hope we can see which is to wait nine months even though we have already waited nine months.

    Many of us also believe that if we are “blacklisted” by olint we will never again get to be a part of the club. It is important for us to be members of the club. Both in this lifetime and at our holiday getaway….the planet Mars.

  109. sirach

    LOL

  110. Many of us know deep inside that our fate is similar to the fate of quack-quack. however if we were to really assimilate this we would go crazy. Some of us have gone crazy already but it is being hidden by family and freinds and other members who desperately need to believe.

    We are scared and we have only rumour and speculation to hold to. bob do you know what will happen to us if we do not get the money?

    Many of us can’t even think about it at this time so we go on facebook and support the people who kept us in the dark all this time.

    Reality passes by us like the wind. We want to go to Semaj but it takes money to go a doctor. Also we know the banks are going to set up collections this week. We know that texaco won’t take credit cards for gas anymore and we know…

    We know that many criminals have been cooling out because the AIS used to provide them with funds..

    Those funds are dry for some time.

    We also know…..

    that the general election is coming.

  111. We know the bird of love has no more infatuation with which to fly much longer……

    We know many who can leave have left…no longer beloning or longing to be in Ja…..

    We know the leaders of both sides lack basic capacity even if they think they do…

    We know that such and such is going out and such and such always a spar wid such and such and ….as such …many such and such going to soon belong nowhere.

    you dig Bob?

  112. Although the repossesions have been taking place worldwide. We are not going to see a peak in this activity until later in the year. Nine months can’t stop this even if there is credence to the 9 months argument.

    Also we can expect a migration of working and middle class people. This is significant.

    With the exception of the mid through late seventies most all migration has been fro the lower classes. This helped Jamaica as those who left strived and prospered and returned money home.

    As in the seventies, a loss of the more educated and higher socially skilled individuals would lead to a similar situation of the seventies.

    The resulting property and general asset price devaluations would in most likelyhood not be able to make a comback for at least a generation (20 years).

  113. If any or all (in addition to Cash Plus, Azan and the real eatate one) type AIS/UFO’s fail ; then children and grandchildren and greatgrandchildren will be talking about it long after we are gone.

  114. Interesting point sirach, I agree with you once again. I know many people who own businesses (parents included) who saw the fruits of DS via more clients, increases in purchases of big ticket items (homes, cars etc),.I’ve seen people put in situations where they can send their children to university, have money to get adequate medical care whether it be here or overseas, I could go on.
    Now many of these business people have seen a sharp decline in their bottom line…doctor’s offices not as full anymore b/c people can’t pay the bills, decline in enrollments at schools b/c parents can’t pay. Whether or not people had money in DS is NO LONGER the issue anymore, it is the WIDESPREAD fallout from the collapse that this will have on the economy.
    To call people greedy b/c they invested in DS so that they could buy new cars is a bit SHALLOW at this point. DS put many people (ordinary and extraordinary) in positions where they felt (real or not) that they had financial security to accomplish things that they never could have before – whether it be buying a new car OR being able to take care of a relative going through cancer treatment that needed surgery, radiation, chemo etc – I don’t call that shallow.
    If putting money in DS meant the difference between going to KPH to wait 8 hours to get an appointment with a specialist for next year OR going to a private doctor and having your medical issues being dealt with immediately is that greedy?

  115. Bob said: “The way it works, as I understand it, is that the entity was illegal from the moment it broke the law. The cease and desist orders only served to reinforce the law and put the recipients and the public beyond any doubt that the regulator had found it to be so. The orders stand until overturned by a court, which has not happened yet.”

    You are of course correct. The moment the bank robber robbed the bank he committed an illegal act, not when he exhausted his final appeal of his conviction.

    However I was attempting to address the issue of investors in Olint versus the behavior of Olint/DS. For those that invested prior to the cease and desist order, they misled to believe they were in a FX trading entity. The investors actions were not illegal. Olint and DS’s were.

    Olint was barred from accepting new clients and so new clients should not have joined Olint (olint TCI may be different, depends). But pending the final disposition of the case those that were already in could remain pending the outcome, there was no order to disband the club.

  116. “Did you know that MTI makes money on trades on the FX Solutions trading platform and the I Trade FX trading platform through these accounts called rebates.”

    They can, if they have an agreement to do so, something like an ib agreement. That in and of itself isn’t illiegal. It just means the ib gets a cut of what the broker’s fee would be.

    If the broker would get 3 points of spread, they give a share of that to the ib. So if MTI is an ib for FX Solutions or I Trade FX, either one of those two might say “if you bring us a client, you get one point out of the 3 points we get on this currency pair”. It happens at every brokerage, all over the world. Just look up “introducing broker” or “strategic partner”.

    “I have being following your posts for a while and I think you know more than you are willing to say. You always seem to say things in an “elusive” manner. Why not show us the entire story?”

    My thought is that AML works for a broker or an educational company, or did so in the past. If his/her information is accurate, I’d suspect he/she worked for MTI at one point, simply because of the fact that it seems to be his only real discussion – other than that, he doesn’t seem to care much about Olint. I find it hard to believe he works for MTI now, unless he is some sort of whistleblower.

  117. From MTI:

    “There is nothing crueler than a violoation of one’s personal trust or an abuse of someone’s loyalty. Many Jamaicans have joined various Forex investment clubs to help them take advantage of the money that can be nmade trading currencies. Unfortunately, it has been many Jamaicans that have been taken advantage of.

    ……We at MTI are very sad and sorry that many innocent Jamaicans have been taken advantage of by certain individuals using the legitimate Forex Market to meet their rogue needs. In an effort to help the citizens of Jamaica recover from Forex investments that may have failed, MTI is discounting our educational products and services. We want to restore the legitimacy of currency trading in Jamaica. Jamaicans need to educate themselves about the Forex BEFORE investing. Market Traders Institute can help you separate the forex facts from the fiction for yourself. We can help you avoid being taken advantage of. ……”

    Jared..hahahahhahahahahaaaahahhahahahahahaahahahahahahahahhahhahahahahhaaaaaaaaaaaa.

    Good luck Thursday. i would come support but Air Jamaica a bruk dung…

    Jared

    1. It has hurt many other nationalities. Not only Jagans.

    2. Is DS not your student.

    3. Help…hahahahaaa …was it not MTI who took money out of acounts when the people could not get paid. True or False? Por Favor

    4.I snot the Olint club bar and pool/gaming room inside your educational complex in New Kingston?

    5. May have failed? May have Failed? What u really mean?

    6. BEFORE investing? using all caps on the advice ‘before’ is sirach’s style …..don’t it bloggers? Mti stop teif people style like how you teif people tings.

    7. Discounting products? Always making a sale ehhh. If you ar eso concerned why don’t you refund the money you took from olint accounts for the course in which you called so many people “stupid”

    Jared we have learnt about the term “tajke advantage” can the perpretrators stomach it?

    Jared good luck….BTW with all due respect you are mutinational but the prerequisits for International? You no quite ther yet…but In time…good luck

  118. Jared was anyone close to you taking advantage of Jamaicans by encouraging their traders to gamble at casinos?

    The seemed to help us alot..Thank guys you guys are the greatest.

    When you teaching the sham oops i men the “class” again. Jared I hope you can apprecite good humor.

    serious though. The last class in Deceberour money was tied up and we’ve ben dying to strat trading like u FXChief.

    See the dilema? Can you help us with this??

  119. Any way on Thursday I’ m sure that the concerns of your students is FIRST on the agenda.

  120. FX-thief LMAO

  121. FX-chief AKA JUDAS

    JUDAS: the disciple of Jesus Christ (DS)who betrayed him.

  122. David Smith put his trust into Jared Martinez and look where it has dragged him, into the laundry zone.

    He skims here, he skims there, he manipulates the trading platform

    https://investforlife.wordpress.com/2008/07/26/olint-funded-both-the-jlp-pnp/#comment-5434

    read carefully
    and
    http://www.forexpeacearmy.com/public/review/www.itradefx.com

    read carefully.

    Jamaica has been his cash cow but there has been no milk for him for the last 4 weeks.

  123. Discount

    Judas love money…Judas neva have a choice….

    The shop soon lock down LMAO!!

  124. Jamaica has been his cash cow, but the milk has dried up in the last 4 weeks.

  125. Why only in the last 4 weeks?

  126. Bad press with the NFA. It was slowing down before then.

  127. AML

    It;’s beem the last few months

    Pay up and everyting going cool….just pay up a di bestting dat ..Any oder ting a di worse ting dat

    Yu Dig brother?

  128. I Trade FX constantly needs new clients which is supplied from MTI. I Trade operates like a casino where the trader loses and the house takes pure profit.

  129. That is why David did not trade with I Trade because he will be breaking his own Bank. I Trade never perfected the art of offsetting trades with Oanda and Dueche(sic) Bank

  130. AML,

    There you go again, like Dave says I think you know plenty more than you are willing to give us at this time.

    We will wait until the fat lady sings

  131. sirach

    I get your point. And may I say, very eloquent too.

    To you and junkanoo, any decent person will be happy to show sympathy to the indigent that you describe. But what about the rest, the great majority who “made” gazillions, put up their house to make more, encouraged others to go into it, etc?

  132. Bwoy Bob

    That is a whole other can of woems

  133. Bob, Sirach

    I used to be in the financial services industry and no matter how much I told people about being careful with their investments or maybe they should boy an accord instead instead of an escalade b/c their car payment would be as much as their mortgage majority never listened. I know so many people that put in money in Olint and my advice to them was:
    1. it doesn’t sound too right, where’s the prospectus where’s the proof BUT if you’re going to do it:

    i) PLEASE DON”T put ALL your money in there!
    ii) PLEASE DON’T let it sit there rolling over
    ….take your ‘interest’ each month b/c if the shi*t hit the fan you can’t say you lost everything.

    Some people did it the way described above…some people didn’t all i can say is that it STINGS big time either way.

  134. Do you guys recall Bunting in parliament… he has to be one of the more naive/silly politicians. Remember how he denied a sweetheart deal with the gov and backtracked when docs were produced. Did he also call for an investigation into UFO funding of the parties? When he thought it was only the JLP that got funding… obviously somebody took him aside and told him to chill. What is that rule trial lawyers have, never ask a question of the witness unless you know the answer.

    DS was doing the American thing. Give to both parties but give more to the party you think is going to win. He was hedging his bets, hoping to influence the next gov to legalize the UFOs which they did not. Regulars on the blogs may recall some initial optimism that Bruce/Audley was spoken to and implying the FSC etc would be put in place… later venom on the blogs aimed at Bruce/Audley that they did not fix it.

    Now how can investors complain that they did not approve their money going to this and other causes like Jazz Fest… we will not touch the gambling and partying. But if you did not insist he disclose a fee structure, what fees will he charge the fund (investors) for his management and “trading” of the funds… what did you care how much he took and what he did with the money?

  135. junkunno:

    Most people who invest have a common personality trait. I kid you not… 5 of my friends with whom I never had any discussions about any of the UFOS… sometime about beginning of May I called them up and started talking about Olint and that I expected it to crash officially in about a month or so… 4 wanted all the info I had and where I got it, they were invested…

    The other 1 said he was going to but is a good thing he went through a rough patch at the time and did not have the money to send. Why did I choose those particular friends… With their personality I would have been surprised to find they did not invest. Most investors will not learn from this, this is why so many conspiracy theories have taken hold… blame everyone and everything else but just do not take any responsibility for bad decision making. This attitude is prevalent among many.

    For example in retrospect can anyone seriously believe they bought that bull sh*t about due diligence. Imagine if you are running a business (or even your personal stuff) and your bank or broker decided they are not giving you back your money… you need it to pay bills etc. Don’t you think they cannot do that without sending you a letter explaining why and under what or whose authority they are using to do such a thing… But yet people were willing to accept such nonsense without proof…

  136. What was the interest rate for Olint cause i have been hearing a lot of different things so for a real invester could you tell. I wanted to invest but i was just saving on waiting for the right amount of money. Well i guess i was one of the lucky one. Sometime we wonder why we make some dicissions but in the end we realise that it was all for the best.

  137. sexyalisa,
    you were definately one of the lucky ones! the rates varied each month anywhere from 6-12% sometimes more, depended on what kind of account you had etc. My advice to you is to take some of that money and invest in a forex course, learn as much as you can and star trading…if that’s what you’re interested in.

    Forget MTI, I’m using leveragefx.com, for $400 and lifetime membership and FREE software it was a good buy, check them out…..that’s if you want to learn more.

  138. Well i guess i am, I have always been lucky esspecally when it comes to money.

  139. …and Alisa…when you begin to do it on your own, please start off with a mini or even a micro account and be very careful. I have been trading the FOREX market for a few years now, and lost a bundle in first 6-months. Once you figure it out and develop a good trading strategy [or 2] it can be quite rewarding. It is a very risky market and should only be allocated a small portion of your portfolio. Don’t try to hit home runs [or sixes] in the FOREX market; otherwise, you will be taken out before you realize it.

    What I like most about the FOREX market in comparison to other financial markets are:

    -Liquidity (trades can be quickly turned into cash)

    -Fewer currencies [countries] to watch – 6 major currency pairs vs. 8000+ stocks

    -Almost impossible to manipulate by any individual or institution (banks, etc.)

    -Very high leverage (use other people’s money – the broker’s); as much as 400:1

    -Driven by news coming out of each country

    -Profits are magnified when you are right

    -You can profit when the currencies are up or down

    -No need to read balance sheets, just analyze the news coming out of a country

    -Great charting and trading platforms available

    -Most trading platforms will give you a demo account with real data

    -And best of all, you can trade 24-hours per day 6-days per week

    Because of reason #1 above, OLINT should not be having trouble paying its customers. This market is so liquid that the second you execute a “sell” order, the cash is in your account. So encashment requests should not be an issue unless you have lost your capital, which most will do. Only 5% of traders are successful in this market.

    Before signing up for a training course, I would recommend reading this book and reviewing the following links:
    “Profiting With FOREX” by John Jagerson (Author), S. Wade Hansen (Author)
    -http://www.amazon.com/gp/product/0071464654 (in my mind, the FOREX bible)

    -http://www.pfxglobal.com/

    -http://www.babypips.com/

    After reading this book, you will know more than 90% of the instructors at any FOREX traning outfit. Most FOREX instructors do not even understand the market that well.

    Good luck.

  140. David is time for you to say something. It is alleged that the money has been transferred into family members accounts. Why should you be living big while the rest are suffering.

  141. First it was – is only JLP have money in Olint
    Then it was only JLP party get donation
    And the tales continue..
    Now …is only JLP bigwigs get pay out.
    Neither on both sides, just like us have been paid out

    Tief nuh like see tief wid long bag

  142. I will take what you have said into consideration.
    Very deep consideration. I really have a feeling that i wont think about the whole fx thing cause i can’t see myself loosing a dollar i’m all for the gain. If i buy somthing for $10 more than the price that i see it for else were i want to beet myself muchless to invest and lose i would surely die

  143. I do not believe this

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