Pressure mounts on Olint

Pressure is mounting on Olint Corporation, as angry investors seeking to recover millions of dollars in investments, turn to the courts and other channels to recover their funds.

The London-based legal firm, ReedSmith, acting on behalf of a Panama-based investment house, Visions Increase Sa Corp, has written to attorney general Kurt De Freitas of the Turks & Caicos Islands, asking him not to free assets owned by Olint, which were frozen last month.

Note in the article another alternative investment company with funds linked to Olint. Vision Increase has become the latest AIS who clients are feeling the heat due to the troubles of Olint.

Read Full article here:

http://www.sunheraldja.com/article/show/1343

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45 Responses

  1. Bowy Jay every where you turn there is another one… but what a sad story…

  2. God bless this poor elderly man who has worked all his life and now irresponsible individuals like David Smith are shortening the days of his life.

    I pray David will find the compassion in his heart to help this man and others who are suffering!!!!

    ET

  3. What a sad story!!!
    I too pray David Smith and his “dream legal team” headed by Lord Anthony Gifford will do the right thing and make sure this elderly man does not meet an untimely death because of a lack of financial resources. Let’s face it folks- dem inna America, not like him cudda go to KPH and get free care! Dem need money before any pill much less operation is done!
    I agree- it is full time to hear when are we going to get some financial relief.
    David, if I were you- I would have to find and send the money to help this poor sick man. Sell the damm private jet and big house in Turks !!

  4. This one is sad to say the least.
    David how do you sleep at night?
    Instead to paying millions to your lawyers, can’t you find it in your heart to help this elderly man?
    Lord knows, if I could I would send him sum $$..

    AF

  5. I hope something can be worked out ….there r several similar stories of very sick club members in desperate need.

  6. InvestForLife and support cast….

    I commend all of you for a job well done!!! God will reward you greatly for what you are doing — in exposing the follies of these UFOs.

    To do this without even one GOOGLE AdSense on your BLOG is truly a testimony to your benevolence. What you do in secret without any financial reward, God will reward you openly. I don’t know your backgrounds or financial status, but I pray that God pours out such blessings on you that you will not have room enough to receive it. You are truly a dying breed in this world of greed and scams.

    I would like to hear about the blessings you receive from God even if it’s 1, 2, 3 or 10 years from now. But know this; you will be rewarded for this great work.

    Respectfully & Prayerfully Submitted,
    PIPSologist

  7. Can a gag order or a lawyers “instuctions” cause a dying man not to recieve what is theirs? Can a fuss between two Jamaican Billionaires who live abroad cause a dying human to not get what belongs to them?

    Can politicians and so called bad man and people who saving mortages get their money while a dying man gets nothing?

    Can political parties get money while sick people get nothing?

    Can so many feeder church clubs really be so wicked?

    Is this the Jamaican Christianity?

    DAMN YOU HYPOCRITES!

    Was it emancipation yesterday?

    Emancipation?………………….from whom?

  8. Greed will drive people to go to all lengths to make money. For the Love of Money is the root of all sorts of evil. This is one of the most misquoted and misunderstood scriptures in the bible. Most quote it to be — “Money is the root of all evil.” This is totally incorrect…it is actually the love of it [money] that is wrong. God never contradicts Himself with His own words. In the book of Ecclesiastes, God through His Prophet Solomon shows us how important money really is: Ecc. 10:19 “A feast is made for laughter, and wine makes life merry, but money is the answer for everything.” Notice here in the verse God tells us that “money is the answer for everything,” so how then could He say it is evil. God knows that we need money to pay our bills, to feed the poor, and to leave an inheritance for our children’s children.

    We just need to be careful how we pursue wealth. Putting wealth before God will surely lead to poverty.

    Greed made him do it:
    DS knew exactly what he was doing. I have warned so many family members and friends against investing in the club and so many did not listen.

    This OLINT debacle is bigger than any of you can even think or imagine. It is like the Real Estate bubble here in the states — issues are popping up out of the wood works like roaches. The half has not been told with regards to OLINT.

    I just do not see how he will be able to pay even 5-cents on the dollar when this is all over. Unlike, Cash+, where there are assets in the company to be sold off and proportioned across its members; with OLINT, it was all about cash [FOREX] holdings. DS’ personal assets will be ceased to deal with all the legal and other issues.

    I can assure you this, that not even his wife was aware of the dire situation with the club — nor did his closest friends and spiritual leaders.

    Prayerfully Submitted,
    PIPSologist

  9. to the other commentators:

    This story is just a tip. Don’t people know what kind of other things going on. Is everyone naive? People dead over these “schemes” already. So why is this story going to ellicit some kind of a different reaction. Plus any case to e considered for payout has to be on a first come basis.

    Isn’t the Visions Increase some kind of a “christian” thing also?

    Anybody know if Wignall gives the full hundred DS interview in the Sunday Observer today?

  10. PIPSY’

    Are you defending TS? Did she really not know? You sure? Careful cause as we have seen some of the greatest defenders of DS have been jumping ship all in the press.

    Distancing by the Martinez clan is blatant. A whole lot of people gone underground. A lot of politicians not sleeping well at nights.

    Feeder club leaders have been caught in bareface provable lies.

    The lawyers have been alleged to be conspiratorial in the matter.

    The media playing some rahtid games. Some mention nothing while a consistent PR campaign for LChn and NCB “Flows” onward.

    We await Wignall at the moment.

    Truth must come one day and responsibility going to fall pon more dan one smaddy.

  11. Sunday Observer updating now. Still no Wignall. I don’t think he will miss this date though.

  12. The feeder clubs just colluded in this thing. I can’t think of any feeder club that did not run wid it! Where dem christian get all dem big millions?

  13. Hmmm Observer looking some hard copy sales from Wignall today. Them holding back the internet release. Soon come….I going down to Devon House to get a copy.

  14. #4 bus has been silenced by this article. Nuff gloom in the air. Few passengers on the bus 😦

    When the Olinters are loosing faith, how long before the apocalypse !

    Just came back to JA after an extended stay abroad and the mood is tense. Even those who did not “invest” will feel some of the heat when this REALLY explodes. As others have said, Mr. Walker is just the tip of the iceberg. Many sad stories to follow.

    It’s no longer a time for “I told you so”. It’s time to rally support for the friends and family who will need nuff help. Is like Gilbert come again !

  15. David, you know I know you and your family well. It is full time for you to let all the facts be known about the Olint operation.

    Firstly, I know you never intended to deceive anyone and you truely have had the intention to help others.
    Alas, “show me your company and I will tell you who you are” applies here. Your move to the Turks was unfortunate, as you got involved with the Premier Mr. Michael Missick and his movie star wife- Lisa Rey. That was NOT the right crowd for you.
    Quickly the casino gambling started and you were easily spending $100,000 in a NIGHT!
    Then the sponsorship of a non-profitable venture such as the Air Jamaica Jazz festival- over US $1 million.The publicity did you NO good!!!
    The other stressful factor is the darn private jet- I do not need to tell you how expensive that darn thing is!!

    My problem is this- why did you start to forget the “little people” like this elderly man mentioned, who stood by you. Instead you favoured ” Mr. Big”!
    Where are all the “Big shot” friends now?
    Remember how many times you sent the plane to Jamaica for your birthday party to pick up ” friends” such as DV? Why are they not in your corner now supporting you?

    David, the other problem I want to share with you is the fact that here is an example of someone asking for help- not a donation, but instead his own life savings!!! Why then are you paying DV and JR their Millions and you have a sick man, who it would seem is about to check out soon, because you chose to ignore his request for help?

    Listen D, it is time for you to sit and think about this entire situation. What has happened is past and gone.
    You are a talented man and a Christian Man.
    DO NOT FORGET YOUR CHRISTIAN PRINCIPLES.

    Call Lord Gifford on Monday and let him help you release the facts to all the club members.
    You can trade and make good on all the financial obligations and you will be able to restore your name.

    Where this elderly man is concerned- it bleeds my heart and I hope yours too. You know what you need to do.
    Love to Tracey and the kids.

  16. David Smith is a sniveling coward. He did not show for the Mark Wignal interview in the Observer..

  17. strange…. it seems Mr. Belcher spelt his own name wrong.

  18. sirach original post to me (PIPSY)…

    I am absolutely not defending TS in all of this. I just believe from previous and similar schemes that the spouses were usually left in the dark on the real runnings and happenings. Yes, TS surely benefited from the lifestyle change, but might not have been made fully aware of how the funds were attained. Were they attained from fees DS charged his members or by simply skimming funds from the scheme??

    I know someone who is a very close family friend of the Smith’s who had no idea this was coming. This person has already started to look for work to try to get their life back on track.

    My assurance should more be “I suspect that his wife…” in my previous post. I don’t know for sure.

    Here is another similar PONZI case where the spouse, pastors, family members, and very close friends had no idea that their trusted agent would have scammed them.

    http://www.usdoj.gov/usao/cac/pressroom/pr2005/111.html

    And this scheme was child’s play in comparison to DS’ club.

  19. I have relative with Alzheimer’s, and money will not help them. blaming this case on David Smith is unfortunate.

    There is no real cure for cancer…David Smith did not make the man have prostate cancer. I allocate blame where blame is due, but i don’t think David Smith made this man sick, or that the money will heal him.

    That said, I know a lot of persons are hurting, and Olint has caused a lot of pain. everyday activities is affecting, the best David Smith can do is be a man and tell us the truth , so that the healing process can begin

  20. kullcull…

    You are missing the whole point of this article and these posts. Nobody in their right mind on this section would fault DS for this man’s illnesses. People are simply pleading with him [DS] to realize that lives are being affected and people may indeed die prematurely because of lack of funds for healthcare.

    I hope you can agree.

    By the way, prostate cancer is a treatable disease if/when caught early.

  21. I get the point, thats why I made the broader point that people are hurting in various ways. i just did not agree with them making a co-relation between David Smith not paying and this mans condition.

    Even if the man got back everything, I don’t think things will change in any meaningful way. wrong choice of poster boy ( in my opinion) , I could list my own scenario, with my own family members , as could many others, but it would seem self serving.

    anyway, the point is people are hurting significantly…everyone gets that.

  22. Kullcull I agree…

  23. kullcull…thanks for clarifying…

    I am only now getting the severity and magnitude of this OLINT fallout. Some lives were changed for the better, but now it appears that most on the back end will change for the worse.

    And I know you could list so many scenarios and stories on people affected by O. I will continue to pray for healing on all club members.

  24. not to beat a dead horse, but it sounds like the man family is well off, his son is a doctor and have $2.5 million to invest.

    in my opinion he may be using his fathers illness to jump start his getting the 2.5 Million, as getting it thru the courts will take a long time.

    No one cares about how my relative will find university fees this September. I cannot afford lawyers.

    Everybody is hurting.. but it seems a strange co-incidence that this doctor man who is a friend, is the first one to sue.

    the sad thing is that when money is short, pigs will turn on piglets.. and people will do anything to get their money.

    I know of people who were offering 20 % of their encashments to employees of Olint to be pushed up in the queue

  25. Kullcull

    Again i agree…i thought i was the only one thinking that way….there seems to be a lot of self interest in this story from the doctor – esp in light of his lawsuit.

    Don’t get me wrong I feel it for anyone who is suffering….and there are plenty persons suffering….

    DS must consider the greater good of the club not just satisfying large clients like the alleged DV & JR. There must be equity & fairness in the distribution of what is there….i believe there are sig funds still there.

  26. Kullcull
    I understand exactly where you are coming from, my heart is saddened by this man plight and this is the real tragedy of this debacle

    Need to tread lightly so as not to seem insensitive but I cant help be curios though since (according to the article ) the walkers were taking monthly gains how much of his original principal have they recovered?
    Is the sum sued ($2.5 Mill) original principal or principal and gains?
    Are they aware that some people have not recovered any principal at all much less gains?

    Truth be told I also know of other people who are ailing albeit not as severe as Mr. Walker, I know of one ill person in particular whose balance is under 50 K (apparently a relatively small sum by all indications) and thus far all their gains are on paper as their encashment to date are still significantly less than the total principal invested

    People like this cannot afford to find 2.5 Mil J$ much less US$ , they cant afford to hire high powered attorneys , pay for treatment in the USA or the PR of having their plight highlighted in the media.

    Whilst my heart goes out to the Walkers let’s not forget those small people who are also suffering , are not Friends with Ds or any of the Smiths and who are really going to get the sh@*tty end of the stick in the end

  27. @kullcull,
    “No one cares about how my relative will find university fees this September. I cannot afford lawyers.”

    We want to hear your story, post it, people need to see that the pain and suffering is a real issue.

    It is not self serving. It helps persons to know that they are not alone and that there are persons who are suffering just as much as them if not more. It is great way of providing social support during testing times.

    @PIPSologist,( August 3rd, 2008 at 9:08 am) post. Great summary…

  28. blogkiller:

    Hi 🙂 . Hope your Sunday is going great! How come you are not at church?

  29. Sin
    You missed me didnt U 🙂

  30. Also important point to note the walkers sued DS personally and not Olint which was quite strategic as O funds (whatever is there) will be frozen for quite some time and if /when realeased it is possible a third party /receiver etc may be appointed to disburse funds in an ” equitable manner ” maybe cents on dollar or wahtever which may not be to everybodys liking

  31. blogkiller:

    You cannot call me that any more. My name is DaveSin! I went to church this morning and all my sins were forgiven. I’m now a new man……hallelujah, amen.

  32. I think we need to remember the point of today’s article.
    It is clearly showing the human suffering on ALL levels- whether you are a doctor or a janitor, the impact is the same. Anyway, I don’t think the doctor is wrong for trying to help is ailing father get his money back to pay medical bills and keep his house. Remember, the father was a civil servant so he probably saved all his pennies and tried his hand at investing like most of us. I wouldn’t want to die knowing that my life savings is being blown at the casinos and spent on politicians! Poor old guy. By the way, rumor has it that many high-powered folks have already been paid BEFORE others. How is David Smith going to be fair on the payout? Us “regular” folks need our money more than those politicians. This part of the story didn’t make headlines. It seems like “what’s done in the dark, will come to light.” This story is going to get hot!

  33. The reality of the Olint tragedy is at some point folks will need to pick up the pieces of their lives and move on along a different path than they anticipated. The history of ponzi schemes suggest there will be little money found to be distributed.

    If you have not seen this video and you have the time (about 1 hr, 15 mins, can be paused)… watch this very inspirational video of how one man chose to deal with the ultimate news… impending death in a few months while in the prime of life… he just passed on in July.

    Randy Pausch Last Lecture: Achieving Your Childhood Dreams

  34. Hi Was anyone aproached by David about investing with him or olint ?? . or did everyone hear about these great returns and decided for themself they want these great returns too. Did anyone check to see what the forex market is before investing.the risk involve I did .A family member said to me to morgage my house For $35,000,000 and put it in I ask if they are mad said their friend put in $1,000000US they got back over 1.2 mill in returns I said this is a risky investment and would not invest more than 10 percent of my money in case they make bad trades and loose all with high return comes high risk

  35. Bwoy….people getting ancy by the minute. Don’t jump in the water if you can’t swim.

    Advice: Get yourself to Leachim Semaj clinic pronto.

  36. its really happening

    Seems that Micheal Blecher may have spelt both his names wrong. The sentiment , vocabulary, grammar writing style and content do not represent a person of his experience and education.

    Strange.

  37. what’s up with worldwise?

  38. my story is not spectacular..

    I will not lie, I went in it to make money, purely financial benefits for me, and by extension my family.

    I heard of David Smith from about 2005, I was skeptical and waited 1 year for it to crash, it did not, and the friend who told me. the proof of the pudding is in the eating. and my friend was eating. so I went in in 2006.

    I made small encashments to test the water after a couple of months, all seem well, thus i became a believer.

    I help a few family members and myself to some things that were needed.

    I also began to echo the sentiments that David Smith was one of the best traders in the world, because most Ponzi’s seem to crash in 2 years, and DS was gone past that time.

    As before, I have elderly relatives with Alzheimer’s , but thats somewhat to be expected when you have relatives over 80 years old. increase doctor visit and such are a part of the norm at this age. I would bring food and spend some time, as though it is increasingly frustrating to reach out to loved one who less and less recognize you.

    My sister is struggling to find the tuition fee for college. there are also various other things that I want to accomplish, but I will not lay them all at the feet of David Smith, I accomplished to where i am before him, and I will accomplish further after him.

    All I want now is the truth from him, I will not pretend like others that they were in this for the greater good of mankind, because the truth will reflect that most of the money drawn by persons went into high end vehicle and other consumer goods, but when things go bad, they will talk about help the less fortunate etc.

    I also do not buy this argument that David Smith did this to help poor people. he did this to make a profit. I am O.K. with that, thus I will not create a story that I joined for the greater good of mankind or to help my ailing relatives. They would benefit, but that was not the primary reason that I joined.

    I like anybody else can easily list a host of problems why we need the money. but these problems was with us before DS and will be there after DS.. we also dealt with them before and we will find a means to deal with it after.

    I just want him to stand up to me as a man and tell me what happened and what real restitutions can be made, if any. we were all adults , have some respect for us and tell us the truth.

  39. What about LChn’s “Full Hundred” Invite him for that Wignall and let us see.

    The reason anyone “invested” money is irrelevant. It is not any of my business as to why someone else put money in. Your money is your money.

    How much you put in any AIS is none of my business.

    In the beginning no AIS owner wanted to know about the amount and who the fact that it belonged to me. It is an insult to me that I am asked now. You never asked then?

  40. What is everybody so jumpy about , Super dave promised the full “Hundred” now he will pay 10% on the full Hundred in 9 weeks , stay tuned …………………..

  41. What’s up with the Herald? Page 4 atricle too sweet to leggo on the net. Then the hardcopies sold out on the streets and pharmacies by 9 a.m this morning.

    Herald….don’t you know when the game is sold out that then it can be televised?

    The foreigners not even aware what is going on.

  42. Nocotec

    Thanks for that link to the lnspirational lecturer….very moving….see if i was not on this blog I would probably not have even heard abt him.

  43. Sirach,

    Whats on page 4 of the Herald.?

  44. Yes Sirach…why hold back on the details? BTW, I thought you were on the other side of the Globe?

  45. They should look here = Atlantic Security Bank – Marisol Sierra.

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