I-Trade Response now available.

The NFa has release I-trade FX’s response to NFA complaints.

At this time we are not able to comment, we will do so later but here are some highlights

Ingrid Loiten

Respondents state in the affirmative that over 94%o of the funds deposited by Loiten were lost tradings.

Gareth Harris

Respondents state in the affirmative that Harris sustained trading losses in his account in excess of 9.5 million dollars, which was equivalent to over 94% of the deposits made in the account.

On David Smith we will have to revisit the document.

Here is the link

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289 Responses

  1. Bless invest for life.

  2. Well it is with some relief that I have scanned the itrade response because it at least appears that there was some trading taking place. Since it appears I am the only idjit who was declaring gains to the IRS, I can now take a loss which should last a few years well on my returns.

  3. well, well, folks, despite all the talks of vaunted trading skills etc. it seems that all the ‘big time’ traders were just losing money left and right.

    We haven’t seen anything yet on Olint but based on what we have so far, it just seems to be more of the same.

    Clearly, there is no money left

  4. You know it is very unwise to have two directors for any company. Also a husband and wife make it worse. Not one external director (someone who has no money in olint at all)? Not one CPA on the board? Not one lawyer? Not one Member? When two people are at a stalemate on a decision (50/50)? no odd number of directors?

    And we must be told by this shamble that we must wait 9months?…..for what?

  5. BIG QUESTION,WHEN DID MARTINEZ MADE FULLY AWARE OF THESE THINGS? WHAT DID THEY DO ABOUT IT? BIRDS ARE COMING HOME TO ROOST.

  6. The lies and the truth are coming out. It is strange that they wont make a comment about the SARs, but they will tell the world that Ingrid and Harris lost everything. Mighty strange.

    winston niney

    The Martinezs’ knew everything because when big client loose money, they profit greatly.

  7. Also notice the Isaac Martinez is not man enough to sign his own response.

  8. “Also notice the Isaac Martinez is not man enough to sign his own response.”

    You really are a know-nothing, aren’t you. Many people don’t sign their response, they have their attorneys do so:

    Example – FXCM – note that a person was named, yet only the attorney signs:
    http://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=1026

  9. And another, Interbank, no signature by named person:

    http://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=1194

    But please, continue with your blind hatred.

  10. Lance

    IM is a pu…….y

  11. Lance, you are clearly an attack dog for the Martinez gang.

    After reading their dodgy responses about their own failure to follow the rules, you have the nerve to talk about ‘blind hatred’.

    It is far from blind.

  12. “Lance, you are clearly an attack dog for the Martinez gang.”

    Yes, when I agreed with AML in another thread that people should report things to government agents, clearly, I was an “attack dog for the Martinez gang”. That doesn’t even make sense.

    Meanwhile, a person who ignores that the actual format doesn’t have you sign the thing is the one who is right.

    I don’t know what I was thinking.

  13. Lance, you are correct about the signature issue, but the way you sounded talking about ‘blind hatred’ was a bit over the top when all that happened was an innocent error/misunderstanding on the part of AML.

    You definitely sounded like you were angry in defence of IM

  14. Lance

    Does a mutual fund offer shares?

  15. I am still bewildered !! Are these trading losses genuine or just a sham? I don’t trust some of these trading platforms !!

  16. Does anyone remember Jared Martinez mentorhship broadcast where he said he bought a company for his daughter for around 3 million dollars around Feb 2008?

  17. Lance,

    ¿Es tiempo para su familiar ir a encarcelar?

  18. “Does a mutual fund offer shares?”

    It can, yes, at least in the US. I have no idea in Jamaica or TCI law if it can.

  19. Golden Lot Said: ….”I am still bewildered !! Are these trading losses genuine or just a sham?

    Excellent question! I thought that ALL these retail Forex Platform will not let their traders go negative. In other words, once you get to a minimum balance in your account, didn’t they close out your trades? If that is true, then how these deposits could be made to cover losses? If I-Trade FX does allow account to go negative, how are they 100 % sure that the account holder will honor their obligations?

    It just appears that a lot of the responses were convenient or fabricated. Oh, they did make one mistake and deposit some funds into JIJ account, but as soon as they discovered the error they did reverse the error.

    BTW, did anyone count the number of accounts that Olint had with I-Trade FX and why would one need so many? Why not two? One for Olint TCI and one for TCI FX?

  20. Lance

    What is a subscriber owned company?

  21. Miachica,

    I don’t read spanish, but I can somewhat tell what that says, and I have nothing to say that I haven’t said before, other than I’m sorry for defending you two days ago or so.

  22. “What is a subscriber owned company?”

    No clue.

  23. “I thought that ALL these retail Forex Platform will not let their traders go negative”

    You can lose everything you deposit, but no more. That’s the “losses”.

  24. Lance:

    If that is the case, why would IL and GH had to make deposits to cover losses? Does that make sense?

  25. guess it goes to show what DS/Olint really is:
    a sucky part-time trader that used new funds to pay interest and principal on older accounts.

    A Quasi Forex-Ponzi Scheme. I hear jail calling very loudly.

  26. Do we have a good securities(SEC) guy on this board? I will give you a name of a type of securities and you tell us what it is.

  27. I am talking about the exotic type of securities.

  28. DaveSin,
    It’s not that they “put in money to cover losses” persay, but rather to put in more money to trade to recover from losses and also to cover encashments…….when they were paying at the time.
    I’m dying to see the result of the TCI investigation. what a good read that will be

  29. AML,
    if you’re looking for financial advice i suggest that you get it from a licensed professional that will assess your short & long-term goals, risk tolerance etc. There are thousands mutual funds out there 80% underperform the market, the other 20% outperform, and that is what people want, but you need someone that knows what’s out there that can do the research to assess whether or not they’re appropriate for you.
    I personally had majority of my money (it’s not a lot trust me:) ) in a Latin American fund that gave me roughly 80% each of the last 2 years. Sold it early this year right before it started to plateau and fall (thank god) b/c it’s down roughly 30%. This fund was totally appropriate for me being a younger individual, but would i have put any of my clients in it that were 10 years away from retirement…..hell no.

  30. “rather to put in more money to trade to recover from losses and also to cover encashments”

    Right, that’s one possibility. I’m glad someone else on here was able to explain. Another example is if they have open positions that are are in a losing position and they keep pushing in more money to try to keep the positions afloat and still end up losing. In each of those cases, its not the broker’s responsibility to stop the client from trading – they make those decisions.

    It’s hard to be doing money laundering if you’re losing all the money – there ends up being no money to launder…. at least for Loiten and Harris’s accounts. Olint’s stuff seems more complex (and had a lot more information which I’m still rereading)

    I’m familiar with a lot of securities, but I’m not sure what you mean by exotic, so I’ll defer to someone else’s judgement.

  31. “did anyone count the number of accounts that Olint had with I-Trade FX and why would one need so many?”

    At the place I work, I’ve seen one client have 8 accounts. There are a number of reasons for doing so. Someone having a lot of accounts would be unusual, but not unheard of. Some companies have policies where they limit the number of accounts you can have. I Trade must not have a policy like that.

  32. Limited Liability Company Membership Interests

    When I said exotic, I mean exotic.

  33. Lance,
    i agree with you and it also looks like iTrade hardly had any policies except an “open door” policy: ‘give us your money, we won’t ask questions and we won’t report you’ – Remember they make a killing when people trade through spreads, and if the UFO’s were depositing and losing like crazy it’s good for their business.
    yea…i also don’t know what AML means by exotic securites either, there are so many different ones out there.

  34. AML,
    give us an example of what you mean by exotic security, that means many things to many people. The only thing i can think of is the complicated CDO’s MBO’s that’s causing this mess now know as the ‘credit crunch’

  35. Limited Liability Company Membership Interests

  36. “Limited Liability Company Membership Interests”

    Ah. I have no idea, but by default, LLC’s have membership interests inherent in their formation. I just searched google for a few examples, but there’s about 8 billion pages on “Limited Liability Company Membership Interests” including 4 zillion state laws for the US. So, it appears that they exist, although they’re not necessarily securities – they’re can just be a type of corporate structure.

    Without knowing more about the specific corporate structure, I couldn’t even begin to speculate how it works, or how any LLC with such a structure would work. IANAL after all.

  37. It takes about an hour or 2 to find out exactly what this security is about.

  38. “we won’t ask questions and we won’t report you”

    Possibly true, although it does say they run Interpol and other searches on each person, so there is some sort of background check done apparently.

    Here’s my question though – how did the NFA approve DS as a principal, knowing all the crud swirling around him? I Trade specifies that a lot of Olint stuff was public knowledge when they were reviewing him for 6 months (although to be fair, I doubt they were actively working every single day during the 6 months). The dates and google confirm that there was a lot of stuff swirling around him. They’ve rejected principals before for less, so why in the world would they let this guy in?

  39. “It takes about an hour or 2 to find out exactly what this security is about.”

    Really? I’d be curious to see some actual legal links – everything I find is a reference to a corporate law or article, but without a point of reference to begin, it’s a lot of guesswork and I could be WAAAAAAAAAAAAAAAY depending on what I’m looking at. Really need a lawyer to look at this stuff….. and it’s a lot of information.

  40. I’m out for now – peace!

  41. How many David Smith are out there? NFA has 63 of them.

  42. Lance,
    2 things as to why i think he would ‘slip through the cracks’:

    1. Their investigative scope probably just skimmed over his activities in JA, if they had any idea of the entirety of Olint then that would be another issue. In their eyes “how could this little yute from JA be any problem here in the states?’

    2. I have a feeling that the NFA policies and procedures keeps more of the big guys in checks – too much to lose of an entity like Oanda or fxcm falters. They act in what’s called ‘good faith’ that other brokerage firms will do the right thing. It’s usually only during unannounced audits which happen infrequently maybe only once a year that they usually find anything wrong – that- and consumer complaints.
    And sine iTrade’s business comes largely from Jamaicans who don’t know their rights or take advantage of them they’ve been allowed to be under radar for a long time.

  43. AML,
    it’s scary huh? all people can do is their own severe due diligence, you can’t take the company’s website on face value, go to FINRA, check the SEC, NFA, google them, there’s always dirt to be found on companies that have shady practices.

  44. Someone should dig up the SEC/CFTC complaint against MTI that happened 6 or 7 years ago. Someone should do a Freedom of Information Act on the SEC/CFTC about MTI.

  45. As I said before you can’t trust some of these trading platforms !! Think about it !! Some of them allow you practice accounts, and when practising you mostly come out winning/gaining. I believe they rig the platforms at times. You have to be careful of these platforms they can be manipulated !!

  46. junkunno – that could be, but it seems a little weird that they’d let it go when they stop others for less. But you might be right – maybe they just let it pass.

    There was an SEC Complaint against a Market Traders LLC in 2001 that can be found on google – but that appears to be a different company. It was based in NY, and apparently, it still is based in Williamsville, NY and still operating as FreeDerm in Williamsville, NY (as of 2007) and is out of stock picking – oddly, they turned to cream products:

    http://www.complaintsboard.com/complaints/market-traders-llc-freederm-c13290.html

    There are a zillion companies called Market Traders out there.

  47. Here’s another Market Traders – again, they’re doing picking, but they don’t SEEM to be related:

    http://www.markettraders.cc/defaultC.aspx

    The search continues….

  48. Found it: Here’s the Market Traders in Williamette, NY that was referenced by the SEC and became FreeDerm:

    http://www.jointpainremedy.com/index.php?cpath=23

    http://www.legalcasedocs.com/120/246/751.html (only the first page is available)

    Just a guess, but I’m going to take a wild stab and say that Market Traders Institute, Market Traders at the cc, and Market Traders LLC are all different companies with different origins.

  49. okays, I’m rumblies in my tumblies, so gonna eats.

    That means I’m hungry – catch you later all.

  50. Can someone in TCI look up TCI FX Traders Ltd. to see if they are registered as mutual fund since their prospectus list themselves as an “an open ended investment company”.

  51. Maybe I should work for Frontline. Maybe Frontline should do a piece on Olint since some years ago they did piece on offshore tax havens.

  52. Just read the NFA Document.

    I Trade Fx is saying that Ingrid and Mr Harris lost 94% of their account trading.

    They also reported that Olint suffered some losses on both its Olintci account as well as its TCIFX funds.

    Infact a/c 11536 belonging to TCIFX which contained $12m was said to have lost $1.2 between June 2007 and Feb 2008 which amounts to a 10% loss, before the accounts was closed. (10% lost not 10% gains!!)

    a/c 100121(Olinttci) was said to have lost just about $780k before that too was closed sometime around April 2007.

    Now what we are not sure about is whether or not DS closed his accounts because he did not trust the I Trade platform or he was just far from being the consummate trader he was said to be.

    What is however clear to me is that Ingrid Loiten from May Daisy MUST have been lying about trading gains when in fact she was losing her blouse trading.

    This confirms the PONZI operations being carried out by May Daisy, as any gains that were being paid out was from other investors funds and NOT from trading gains.

    We can also now confirm that MAY DAISY is dead as ” no money no deh”.
    94% of what was being traded was lost, Ingrid went off with US$7M and the remainder was used to pay off old investors with new investors money.

    Who was Mr Harris trading for ? FI investments ?

    More later.

  53. It is rumored that Mr Harris wanted to be another DS and broke away from DS.

  54. The money is not lost. The casino(house) has the money.

    When I Trade FX and MTI knew that third party money was entering Ingrid Loiten account and failed to report it or stopped it, they were an active party in this fraud and it becomes recoverable. They knew Loiten was trading other peoples money. I Trade just pocketed the money and said that we did not know anything.

  55. That is why F1 is sueing everyone to recover the money.

  56. Just follow the money and you will go on a strange journey of illegal securities, money laudering, strange contracts, and questionable relationships. The ride to willy wonka is not over yet.

  57. Mrs smith is a liar and a criminal, not to mentioned Ms loiten and the martinez as…..h! i hope they all burn in hell. F1 was genuine.

  58. “mutual fund since their prospectus list themselves as an “an open ended investment company”.”

    A mutual fund is an open ended investment company. I don’t have a legal definition in front of me, but from wikipedia, second paragraph:

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

    “Since 1940, there have been three basic types of investment companies in the United States: open-end funds, also known in the US as mutual funds; unit investment trusts (UITs); and closed-end funds. Similar funds also operate in Canada. However, in the rest of the world, mutual fund is used as a generic term for various types of collective investment vehicles, such as unit trusts, open-ended investment companies (OEICs), unitized insurance funds, and undertakings for collective investments in transferable securities (UCITS).”

    US says they’re open-end investment funds. Again, I don’t know about TCI law, but I doubt its so much different than the rest of the world.

    “When I Trade FX and MTI knew that third party money was entering Ingrid Loiten account and failed to report it or stopped it, they were an active party in this fraud and it becomes recoverable. They knew Loiten was trading other peoples money. I Trade just pocketed the money and said that we did not know anything.”

    Without knowing how the account was structured, this would be difficult to prove. The NFA would be able to decide if the explanation was plausible or not from a paperwork standpoint. Since I would assume they’ve seen the account paperwork from their audit investigation, they should easily be able to answer that. Beyond that, one would have to know the mindset of I Trade and the people who oversaw the account and talked to Ingrid to know how she represented herself beyond what was stated.

    I’m not saying you’re wrong on that last point, but its tricky to prove.

  59. which platform does ww trades on?

  60. I hope it wasn’t i trade because 94% would have been lost.

  61. Mr Harris affiliated with Keen Exchange

  62. He apparently also trades for a few other UFOs

  63. @AML- An example of an exotic security is a weather derivative; or an energy derivative (like what Enron purportedly traded). Is this what you meant?

    Based on my quick scan of the docs, it seems like the only thing that seems to stick regarding OLINT from the original NFA complaint is the fact that DS refused to turn over personal bank records. I-trade seems to have an answer or at least a “perspective” for every other issue as it relates to OLINT in the complaint.

    As the Bible proverb states “a man’s argument sounds convincing until his opponent comes forward with his counter-argument” or something to that effect

  64. Keen Exchange has also not been making payout since May 2008 (according to emails sent to its members).

  65. What deception the Martinez through out. The #4 bus opened my eye to something because it is hard to read the pdf. The post below is from #4 quoting the response to the complaint including the “ofthe” mistake .

    “Paragraph 23. Respondents state in the affirmative that JIJ was a subscriber owned
    company and that Isaac Martinez’s minority ownership interest was limited to $1,000 in
    capital and that neither Jared Martinez nor Jacob Marlinez added to the company capital,
    as ofthe end of March 2007.”

    It the end of March 2007 JIJ Investments was not legally functional yet. It needed JIJ Management to run correctly. Refer to the UFO Timeline. More deception from the Martinezs. They should quote their current investments into JIJ Investments.

  66. “It the end of March 2007 JIJ Investments was not legally functional yet. It needed JIJ Management to run correctly.”

    It’s not THAT hard to read the pdf.

    Where is it that you have documents showing that one needed the other to run? Sunbiz seems to be down, and unless Sunbiz has documents stating that one needs the other to function, JIJ Investments shows on the timeline as being established (never mind that I can’t even confirm the accuracy of the timeline since sunbiz is down).

    In any case, I’m not sure what you’re trying to say. Unless sunbiz gives specifics on the structure of the two businesses? companies?, I’m not sure where you’re drawing conclusions a) on when they’re legally formed b) able to function as an entity – and the funds were wired before then.

    Again…… you might be right as to the legal interpretation (I’m not a lawyer), but a couple hours ago you a) didn’t know that a mutual fund was an open-ended fund and b) didn’t know how most NFA responses are filed in terms of signatures. Soooooooo….. I’d like it if there’s someone on here who has some legal background to comment. I’m sure the lawyers who helped assembled this thing spent enough time to make sure it wasn’t something that could be picked apart in 2 hours by someone with no legal background.

    But then again, Bush thought he had an ironclad argument on WMDs in Iraq, so if that’s true, lawyers can make mistakes also.

  67. Ah, I think you’re confusing JIJ Investments Inc. and JIJ Investments LLC (which was formed much later). According to the timeline, JIJ Investments Inc. was up and running near the beginning of March (again, assuming the timeline is right – I can’t exactly check via sunbiz until Monday, but I assume its correct since I don’t see anyone contradicting it in the timeline comments). I’m not sure how they all relate in operation though – is that on sunbiz? If not, where can I find that information?

  68. “lawyers can make mistakes also.”

    Hmm.. sarcasm doesn’t carry well in text. By mistakes, I mean they can lie. I don’t want anyone thinking I think the way it was labelled was a mistake.

  69. Time for sleep – night all. I’m sure this will have many more comments by tomorrow.

    Peace!

  70. When are we going to hear the real story about Olint.

    So far there is no Hard evidence that the funds are all gone.
    The million dollar question is how much funds does Olint have overall and how much of it is frozen?

    Can anyone give the answer to this?

  71. 0.786 Trader

    You are right. The finace industry has been raped. Particularly in Jamaica where any jack mandora eediat with a theology, or chemistry, or law, or MD,or history (from UWI of all places) etc.degree calls themselves a trader.

  72. Question: Anyone ever wonder why there is all this big “hubalaboo” about money laundering by OLINT in the NFA documents when, concerning OLINT, all of the deposits seems to have been wired transferred from another bank? Can anyone confirm that cash deposits were made by OLINT to fund I-trade accounts?

    If it is correct that NO CASH was deposited by OLINT into I-trade, but ONLY wire transferred from other banks or broker platforms, then would not those banks or brokers have had to do their own due diligence and source of funds on OLINT before accepting those deposits from OLINT? And if they did so (e.i due diligence etc), why would the NFA now be concerned about OLINT possibly doing money laundering from a “source of funds” standpoint?

    This is the same or similar-kind of argument or reasoning raised by I-trade lawyers when it posited that “why would the NFA now all of a sudden be concerned about DS source of funds when they spent 6 months investigating him before approving him as a principal on I-trade.

    This is a good question that should be answered by the NFA or by someone with knowledge of the inner-workings of the NFA or securities industry, or otherwise by anyone who has an answer?

    What do you all think?

  73. Truth

    Very good question. But also remember that DS deals with some “shop” banks like TCI Bank. Even to mid year banks like these could not offer clients a mastercard or visa. in addition their level of professionalism left much to be desired especially when they teamed up publicly with Olint. Case in point was in february 2008. olint started to have people open accounts with the TCI bank at their offices on Braemar Ave. As usual the arrogance was in full effect. you had to have an appointment. Well even people with appointments were not satisfied. So they said the bank rep. would be back in two weeks. That never happened. Just like the signing of the new encashment policy people were only concerned with the prospect that having a TCI bank account might get them to have funds released by Olint to them “before the crowd.” Both the encashment policy and the TCI bank accounts were actually put to people who had been subjected to months of duress.

    To this day people (members) are clandestinely “supporting” DS in many ways. Especially since the freeze. These people also feed him alot of Bullshit about other members. Why do they do this?

    Well because they are living in fear that the money is gone forever. Most who go don’t have the balls to tell him. Most don’t even know what to do when they get there. They sit around and lime until their hotel fees and other expenses and obligations force them to leave. They try to console themselves that they saw DS themselves. But deep inside them a shit them pants.

    Even some very close to him…who work mwith him don’t know the full hundred. Only he knows what is facing him. But by not coming clean with info he is actually blocking people who are not afraid to take on the very people who intimidate him. As a deeply competitive person he truly (yet falsely) believes he is the best person to solve the problems.

    The fassy dem whey round him could never be genuine friends…unless they really are a set of self serving idiots as is widely claimed with them.

    So they that are close don’t want to ruffle no feathers because them really only thinking about their own interests while claiming to have his interests at heart. In other words they are bitches and bastards.

  74. Does DS know this? Well if he does he has not done anything about it. For him to throw away many of the close people he had e.g PB , Lewfam and others something must be wrong. He should know that the new people would not know his name if it were not for the money. Who knows if he is an idiot or not. But one thing for sure. He can definately behave like one.

  75. Well Asafa and Usain time now. Sorry U.S.A. haters you will only see the races 12 hours late. Not even TVJ or CVM on the net can show it. Why did unno migrate to such a backward place. Olymipic 100 meters can only be delayed to you people there????? A mus the only place that slav…I mean people could be treated like that. Lata

  76. NBC treat you Americans like how DS treat unno.

  77. Keep unnu in a di Dark. hahahahahahahaaa

  78. some known truths.

    David Smith is on record as saying the accounts was used as a Float !!!

    Martinez is on record as saying that the money was used to cover trading losses.

    the fact was that there was little trading activity. so the very little trading activity wipe out the money ?

    Martinez was actively promoting David Smith as a great trader and their platform as very good. This statement of them of horrendous trading record would definitely show them to be liars.

    FYI: Harris trades for Keen

  79. “”Does anyone know who/what is JIJ Investment Inc. That DS transfer money from trading account to this account

  80. “”Does anyone know who/what is JIJ Investment Inc.

  81. Thanks Kullcull.

    So we may also declare that Keen is also dead.
    So lets see who has made it to the AIS grave yard and who is in intensive care.

    In the graveyard.

    1. CashPlus
    2. Ricky Azan
    3. Higgins Warner
    4. Swiss Cash
    5. F1 Investment

    Intensive Care

    1. Lewfam
    2. Olint
    3 Fx Millionaire.
    4. Vision West
    5. Wilshaw
    6. Uwin

    Can someone add the others please.

    Not there were also others who were trading but had no names.

    All said Jamaicans have lost $Billions and still counting.

  82. @Marva.

    JIJ Investment Inc is owned by the Martinez . The same people who controls I Trade FX

  83. The I-trade response is extremely weak. It is unlikely to fly and the NFA is likely to issue some kind of action against them. Nice try by the lawyer, that is what they are supposed to do…but..

    In the response to why they failed to file SAR’s (Suspicious Activity Reports)… this is probably the most serious charge as it could also be criminal if they were colluding with DS to conceal the movement of funds and be part of money laundering…

    They claim they cannot reveal whether they filed a SAR or not since it is not supposed to be public… the client should not know. Total nonsense. They were not the ones that made the info public that it was not filed (NFA did) so they cannot get into any problems…

    Think about it like this… This is a legal case against these guys with sanctions possible. Suppose you wer in a trial (which this is a form of)… If you had exculpatory evidence to clear yourself… do you think your lawyer would say, I cannot reveal this info since court records will be made public? See what nonsense the response is and is an indication of guilt or that they violated the rules.

  84. The I-trade lawyers said they would not comment on whether they filed SAR’s or not. They did not say this about anything else. In fact, they either admitted or denied 95% of every other issue in the NFA report.

    The fact of whether filed SARs or not would be known by the NFA. So the fact that I-trade did not want to comment publicly has no bearing on the fact that the NFA would know that they did or did not file SAR’s.

    On this point, I would say that nocotec’s critique is not well-founded.

    Moreover, the fact that the I-trade lawyers issued strong denials of several pieces of material fact issues in the complaint, leads to a formidable conflict later on if they are lying.

  85. What is the next step for the NFA? if they find I-trade’s response unsatisfactory, will they issue sanctions?

    I-trade issued several specific as well as blanket denials. Will the NFA engage in a back and forth with I-trade?

    One thing is for sure, if I-trade lawyers are just denying stuff for denying sake, it seems like they are making things worse for their client

  86. “It is unlikely to fly and the NFA is likely to issue some kind of action against them.”

    The NFA was always going to fine them, no matter what. Look at other actions – it’s not like the NFA says “you know what, we’re totally wrong – we take back everything”. As soon as the action was filed, you had to figure there would be a fine, its standard. The question is what more would be done, and I’m not seeing much that they can be called out on unless the NFA knows something else that I can’t see.

    “They claim they cannot reveal whether they filed a SAR or not since it is not supposed to be public… the client should not know. Total nonsense. They were not the ones that made the info public that it was not filed (NFA did) so they cannot get into any problems…”

    That’s not true at all. The NFA has no power over SARs – its not a government organization, it’s a membership org granted power by a government organization. So yes, the NFA and I Trade could potentially both get into federal trouble over a SAR. I think its unlikely, but apparently they’re not taking any chances.

    “This is a legal case against these guys with sanctions possible. Suppose you wer in a trial (which this is a form of)”

    See, that’s what you fail to understand. It’s NOT a legal trial – it’s an action by a membership body. In theory, such an action could go to a trial or (more likely) some sort of arbitration. There’s a horrible misunderstanding on here that people think this is a court trial – they’re not being actioned for money laundering – they’re being actioned for their AML procedures and how well they followed them. The NFA has no power to go after money laundering – they’d have to pass that along to an actual government body.

    I Trade doesn’t have to be a member of that body – there are plenty of other countries they could set up in and not be a member (I’ve always wondered why they never set up in a place like Belize with all their hispanic ties – if the goal was to skim Jamaicans, they could easily do it from there).

    “Moreover, the fact that the I-trade lawyers issued strong denials of several pieces of material fact issues in the complaint, leads to a formidable conflict later on if they are lying.”

    And that’s the thing that catches my eye. Most NFA responses literally say “We deny… We deny… We deny…” and offer no detail (read FXCM’s and Interbank’s that I linked earlier – although on different issues (and some AML) – they’re generally pretty vague. By contrast, I Trade offered quite a bit of specifics about account #s and balances that I’ve rarely seen in a response, and if they were lying, it would put them in a worse position than just denying and leaving it at that. Given the fact that if you search for their lawyer, it’s a well-known firm in Chicago that deals with futures, forex, etc all the time, I think they know exactly what they’re arguing at this point.

    I just see some fines coming – unless someone has something ironclad, it’s unlikely to be much more.

  87. “What is the next step for the NFA? if they find I-trade’s response unsatisfactory, will they issue sanctions?”

    In most of these cases (well, for forex anyways – futures has a lot of stuff happen), the NFA will go to arbitration with the firm, and sometime within a year, they’ll come to an agreement on some fines.

    In theory, the NFA could come back and say they want to pursue it further, but that rarely happens.

  88. “Intensive Care

    1. Lewfam
    2. Olint
    3 Fx Millionaire.
    4. Vision West
    5. Wilshaw
    6. Uwin”

    Add to that:

    Keen Exchange (Harris)
    Visions Increase (Harris)
    TCI FX (DS)

  89. Lance

    You have not done research on NFA complaint concering AML. They have taken action against someone for not having a AML program and suspended them for 6 months out of the industry and they must pay a fine before they are allowed back in the industry. I Trade broke the rules when they have a AML program which I suspect NFA will kick them out of the industry.

  90. “You have not done research on NFA complaint concering AML.”

    I just did quite a bit of research, and again, I see a lot of firms with AML charges. When they deny, which is the same thing that I Trade does, they generally go to arbitration, and then they fine.

    You’re trying to pull cases where the NFA says there is no AML policy in place at all. The NFA isn’t saying I Trade didn’t have an AML policy, they’re say they think it could have been applied in certain cases. I Trade argues that there are conditionals in the NFA’s own guidelines on such. That’s *not* the same as saying they have no AML program, in fact, the NFA itself says that I Trade did have an AML program.

    I suggest you take the time to educate yourself on it rather than lecture me on it, since its clear you lack an understanding of the industry – or you wouldn’t toss out gems like “Isaac Martinez is not man enough to sign his own response” when in fact, that’s quite common, since its the general structure of a response.

  91. It is worse when you break your own rules, not just for not having a program.

  92. “NFA takes money laudering seriously.

    http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0304965&case=08BCC00003&contrib=NFA

    And again, you didn’t read – that was an IB that VOLUNTARILY WITHDREW registration, it wasn’t “kicked out”

    It also didn’t deny all the allegations, it admitted some:

    “As part of its Offer, Worldwide also consented to findings that it committed the violations alleged in the Complaint.”

    I don’t have time to play this game all day – I’m sure you’ll look until you find one or two complaints out of thousands that meets your criteria and say that proves your point. It’s a mighty selective criteria you’re following when you ignore a pile of cases to pick out some.

  93. “It is worse when you break your own rules, not just for not having a program.”

    Again, they’ve denied the allegations, which means the NFA has to say “We think you did more than that and there was no room for any other interpretation”. That’s actually phenomenally rare.

    Apparently, we’re going to disagree on this point, which is fine. I think they’ll get a fine and *possibly* Issac Martinez will get a suspension, but not the firm. You clearly think differently, and we’ll leave it at that.

  94. “which is fine”

    lol, no pun intended.

  95. Wat kind of timeframe can we expect for an NFA response?

    Lance, would you completely rule out I trade losing NFA membership at this point? My initial reaction to the response was that the NFA would issue some kind of cease and desist.

  96. Lance I agree with you.

    0.786 Trader

    really sad abt the indiv who jumped.

    Anyway CONGRATS to Bolt!!!

  97. I don’t think it’s a million dollar question as to how much leave in Olint more like $1000 question. Has it occurred to anyone that if any regulatory body froze money of any significance that it would get out, only thing we hearing about so far is chump change.

  98. “Anyway CONGRATS to Bolt!!!”

    Yeah, wow, that’s faaaaast.

  99. I meant to say it was “like” a trial. The industry regulatory bodies have considerable enforcement power and the ability to enforce sanctions… the process is similar to a trial in many respects… allegations are made and the accused have a chance to respond with evidence to counter the allegations…

    You will note the the Feds separately started investigations against the parties noted in the NFA complaint… I would not be surprised if it was the NFA that forwarded this issue to the Feds (US District Attorney)…

    This is why I said the issue of money laundering (ML) is the most serious… the others are more industry administrative issues where the industry body can place sanctions on the entity for administrative like violations… See how quickly ML like implications made it to the big time… USDOJ investigation…

    Like the other allegations that they say they deny… if I-trade had any evidence to deny filing of the SARs they would have issued a denial and not used the legal BS claim about non-disclosure… You can bet the DOJ are investigating whether I-Trade and the Martinezs were aiding and abetting ML, these are serious charges and the lawyer would be mindful of publicly making claims on that matter that may be false… unlike some of the other issues.

  100. Lance:

    Given your background, what would you say IS the function of “JIJ”?

    In I-Trade response they insinuated that they “managed “the investment funds of “Olint”.

    …”to JIJ to allow JIJ to manage the investment of those funds for those entities”

    What does that mean?

  101. “Given your background, what would you say IS the function of “JIJ”?”

    I have no idea. It could just be a non-forex investment group, it could deal with forex, it could deal with a mix. The response says they set up something to manage some of the funds, but who knows how that was structured. That’s why I asked AML if he had more information about JIJ’s structure, since he’s implying he does know something. Without knowing the structure, I have no idea. It’s not unusual for investment companies to have 4 zillion holding companies, like an Inc., LLC, etc. to deal with different laws, different holdings, different bodies.

    “In I-Trade response they insinuated that they “managed “the investment funds of “Olint”….”

    I suspect Mr. Smith was realizing how hard trading was, and asked JIJ to manage a small portion of funds (based on the amount and the suppossed amounts I’ve heard Olint has as stated on here) – but I’m also speculating since I have no way to see it. After that, I can’t really answer… all they say is that the ownership stake of Issac Martinez was limited.

    What does that mean?

  102. “What does that mean?”

    Oops, forgot to delete that from the cut-and-paste.

  103. “and asked JIJ to manage a small portion of funds (based on the amount and the suppossed amounts I’ve heard Olint has as stated on here) ”

    NFA is saying $50 million USD. Martinez response is saying $60 million USD that was given to JIJ. Is it really a small portion? I am hearing it was $400 million with no interest added to it that Olint had.

  104. “I am hearing it was $400 million with no interest added to it that Olint had.”

    I’ve seen allegations of 750 million on here with Oanda, and more elsewhere. Again, I have no idea.

  105. Lance:

    I know that the SunBiz site is down, but the last time I checked neigther of JIJ firms had refiled their annual reports. I wonder why? In a few months it will automactically dissolve both firms!!

  106. “I know that the SunBiz site is down, but the last time I checked neigther of JIJ firms had refiled their annual reports. I wonder why? In a few months it will automactically dissolve both firms!!”

    Interesting – I’ll have to take a look on Monday, but for most states, it’s not unusual to file them at the absolute last minute.

  107. Lance:

    He did file his “other” companies before the deadline! He can still file to reinstate ($400+ vs. $150?) before the absolute deadline (dissolution deadline).

    Did you see the 100m race live?

  108. hmm.. I posted a big post on here, but it never appeared…. hopefully it will pop up soon.

  109. I guess I’ll break it in two and see if it goes up.

  110. hmm… guess there’s a post size limit… it didn’t even post when cut in half.

  111. Did you have multiple (more than two links) links in the post?

  112. No, I had one link – but when I cut it in half, the post wasn’t in that half, so it must be that a certain size post has to be manually approved.

  113. okay, that’s really annoying, but…. not sure what else I can do

  114. I think they have to manually approve it. Essentially, it’s my last post on here, so I’m sure after it appears (probably many hours from now), I’ll be totally late to the party.

  115. Anyways, my response to be approved or something isn’t all that long, but its my last post on here. I came to a conclusion while I was walking around outside, and I think that post will explain. Hopefully, investforlife will get back and post it at some point later today.

  116. Lance:

    Checked the post to see if the link might have been broken into two or more parts or if when attempting to post the username or email has change slightly. I have seen some long post and they went thru o.k.

  117. I’ll give it a shot.

  118. I spent some time thinking about this, but at the end of the day, the response shows that Loiten lost buckets, Harris lost buckets, and Olint wasn’t doing so well in the limited trading they were doing at I Trade. One would hope they did better at FXCM and Oanda, although with only 3.7 at FXCM, that doesn’t seem to imply they did very well there either. I have no idea what JIJ is, but without knowing structure, its hard to argue that anything illicit is going on. They could have passed all that money back to David Smith or kept it – who knows?

    On an offnote, I walked outside and breathed in the cold air, and wondered why I’m sitting here reading this on a Saturday afternoon.

    I see a number of people on here who lost money in Olint or Lewfam or Worldwide or a number of UFOs. They’re angry or sad, and they have every single right to be. I knew their responses would be mixed – ones who felt badly hurt would keep looking, others would say “Well, it looks like someone lost money – time for me to kiss it goodbye”. They genuinely want to understand – and if their anger mixes in with that, I can understand that thought. I can understand their anger, and some of it is quite legit at even companies like MTI, who pushed DS pretty hard.

    I realized it was AML whose response (to the response) would be the most interesting, because all this time, he’s been saying the NFA response would be shocking and blow the roof off. After that didn’t happen, in my eyes anyways, I wondered why he was responding in the way he did – and then I realized why he bit so hard on signatures and failed to understand basic concepts about the NFA.

    He thought there’d be no real response. When they had actual detail, he was taken aback.

    For a while, he was left to scrap by trying to pull MTI back in, even throwing out SEC allegations even though that would seem to be a different Market Traders company – he needed time to think how to fan the flames again and just wanted to keep it going with anything he could. When he apparently realized he was wrong on that issue, he never came back to it, he just kept throwing haymakers, like a boxer who is just flailing wildly to stay alive.

    So now he’s trying to find something in the mutual fund angle and picking out each thing he can find. Make no mistake, there are legit concerns to be found in the response. But he’s trying to make people think I Trade is shutting down, and he’ll construct any argument he can, even with faulty information, to keep trying to push that. He’ll stitch together what he can here, because he has a captive audience who for the most part, will give him the benefit of the doubt, because they want so badly to believe.

    It was at that point I realized that I’m trying to talk to someone who isn’t interested in the truth, he’s only interested in making the Martinezes “pay”. He’s not a client of I Trade or MTI, or he’d have talked about how he got ripped off there in terms of his own trading or education. I’m speculating, but it’s pretty clear to me that he was something in MTI that felt like he didn’t get what he deserved. There is value to be found in information from those sorts of people, but we have to remember what their actual goal is too.

    That’s why he’s out posting on every review site. If you go to the website of forexjustice, and look for reviews of brokers, you’ll find someone named AML posting under I Trade about the NFA complaint and F1. If you go across the internet, you’ll find it all over. (Sadly, when I post the link, my post goes haywire)

    He’s not interested in how they respond – he’s only looking for the next angle to fan some more flames and keep everyone on this site as mad as can be, so they won’t think about any other angle. If he had information that was ironclad, he wouldn’t be searching for his next attack point by throwing anything out. He doesn’t have an understanding of the industry or how the NFA works, so he sits back and tries to make people think he does by posting links to complaints/answers, knowing that probably 50% or more of the people on here won’t read the whole thing or won’t understand how NFA complaints and answers work. To some people, that’s what they want to hear. Some people don’t want to hear that Olint has nothing left – that would leave them without their money. They want to believe someone else has it all.

    It was at that point I decided that there’s no way I can keep talking on here – he has far more time on his hands, and he’s just throwing out more stuff trying to make it stick.

    I like trying to explain things to people who genuinely want to understand how the industry works, but arguing with someone who wants vengeance for some slight he suffered back when he worked with MTI or JM (I assume) is counterproductive. See, my goal is legitimate understanding – his goal is to stick it to someone.

    I’m willing to answer emails, and as I’ve told the site people, I know other people who I’ve encouraged to come on here and talk – I don’t know if they will. But arguing with ignorance is just impossible – it just ends up sucking up my time, and AML clearly has far more time than I do, and he’s devoted to his agenda. I don’t check the email every single day, but I have no problem explaining things in that format when I get a chance.

    I wish you all the best – DaveSin, mk, Miachica,sirach, Investforlife, etc. I’d love to hear from you and keep answering questions, but there’s just no point here anymore.

  119. hmm.. didn’t work. It just comes back to this page and nothing happens.

  120. When I try to report it again, it says “duplicate copy detected”, so clearly it sees it.

  121. woo hoo, I think they approved it!

  122. Lance, It was held as spam.

  123. “Lance, It was held as spam.”

    Story of my life. Thanks for cleaning that up!

  124. Bwoy Lance, you appear to have thin skin. The exchange is GOOD. I don’t see AML or anyone for that matter doing anything BAD. Keep blogging mon.

    People read these blogs and form their own opinions. You don’t want the opinions to be one sided. Do you?

  125. Why did the Martinezs expose the Loiten and Harris that they lost all(ethical issues). This was not a complaint asking about accounts, loses, and so on. It is a complaint why they failed to follow AML rules and explain the weird money transfers. Some of the shockers are that Harris and Loiten lost over 94% according to I Trade. Also a hint at what is JIJ is.

  126. I-Trade is trying to wash their hands but their hands are dirty.

  127. “The exchange is GOOD.”

    I’m going to break my last post rule to answer this.

    There’s not an exchange – he’s not answering anything I bring up that shows he’s wrong. He only tries to slap something back in people’s faces when they doubt him.

    The real kicker for me was the Market Traders thing he brought up. I posted three posts with research, and he just moved on. At that point, I realized he would never actually acknowledge a legit sticking point against him – because that would lead people to believe he’s not right on other issues. It’s just easier to stick to the plan.

    It might be true, I might have thin skin. But what point would there be in a discussion if someone refused to concede anything to you and refused to answer what he puts down?

    I’m answering every single point people bring up, I acknowledge when they’re correct (like I did when he called for law enforcement things). He’s not interested in the same – he’s trying to stick a point. I have no interest in trying to talk to someone who just jumps from topic to topic without answering what you respond with. There’s just not enough time in the world.

  128. Lance

    Your post underscores why this blog needs more persons like urself who seem more interested in TRUTH as opposed to personal agendas.

    Your assessment on AML sounds dead on. I encourage u to keep on – I have (from my perspective) found ur posts to be objective – ur quest for truth is also evident.

  129. “Your assessment on AML sounds dead on. I encourage u to keep on – I have (from my perspective) found ur posts to be objective – ur quest for truth is also evident.”

    Thanks mk, but… I’d rather save my own sanity for something of value. I have a talk with my child (about 8 years old) at times where it sounds like AML. When I bring up what my kid did wrong, he changes the subject. When I bring it back to another thing that my kidd did wrong, he changes the subject. When I say one thing wrong though, the child is the first to point it out and hammer on it. While AML is clearly not a child, his discussion manner is much the same way.

    Even now, he’s plotting out his next set of “revelations” and talking points to bring it back to his center agenda. I’d rather just save myself the trouble. In order to fight for “the truth”, I’d have to get into a blog street brawl with someone who isn’t interested in actual discussion except when it agrees with him. He might be that bored, I’m not anymore.

    Good luck all. 🙂

  130. oh yes, since my email is probably buried – that’s bay.lance@yahoo.com

    I’ll be happy to keep answering questions, but it’ll only be from time to time.

  131. The Olint UFO has a big history with many players. People get sidetracked. I try to remain focus on where is the money, what has happened, history that some people what to keep perminately buried, and what is next in line of revelations.

  132. Do you know what a Limited Liability Company Membership Interests is yet? We have a UFO timeline to keeps of the facts, find out who are the players and what they did. You do not comprehend the big picture yet and the players.

  133. Lance,

    Why dose it bother you that AML brings up this info about JAred Martinez or MTI? If you dont have a business or personal relationship with the martinez why do you care so much what people say about MTI…People on here are such sheep. No wonder fools like MK lost money in these UFO…You people are pityfull. Its common for forex companies to send people out on blogs and reviews sites to disspell any negative things that are floating around about their company. If you go on forex bastard, forex factory, forex peace army reps from forex companies monitor them all the time. Lance is no different. You people are so damn stupid it’s not even funny LMAO!!!

    Dont you see he only post on anything that mentions ITRADE, MTI or Jared MArtinez…Continue lance your doing a good job!!!

  134. Lance, on August 15th, 2008 at 5:28 pm Said:

    “At the place I work, I’ve seen one client have 8 accounts. There are a number of reasons for doing so. Someone having a lot of accounts would be unusual, but not unheard of. Some companies have policies where they limit the number of accounts you can have. I Trade must not have a policy like that”.

    You work for a forex broker…what a coincidence…you are in florida too?

  135. “People on here are such sheep.”

    There’s an irony when people call those who follow UFOs sheep, then use that as some sort of reason to follow AML…. like sheep.

    Though the irony will be lost on you.

  136. Lance,

    What I do know lance is you only pop up when the topic of ITRADE, MTI, JARED MARTINEZ comes up.

    Which forex company you work for lance lol!!!

  137. Lance,

    NEWS FLASH

    This WHOLE blog is filled with people like AML that have their own theories or consipracy story. This blog is more like a gossip column. You only pop up when ITRADE, MTI, or Jared MArtinez is being discussed.

    Your so obvious its not even funny lol.

  138. This trail of money, fraud, and corruption also leads into other FOREX houses. Lance, is your broker next? Some people should be permanently barred from the industry.

  139. “What I do know lance is you only pop up when the topic of ITRADE, MTI, JARED MARTINEZ comes up. ”

    NEWS FLASH

    AML only posts while those topics come up! And he’s the only one (practically) besides you that manages to avoid certain points in a discussion!

    Meanwhile, I’ve posted on some threads that have nothing to do with those topics! Granted, since AML ties like… 95% of these threads back on those topics, I’m curious how someone is supposed to post on a ton of topics that don’t have anything to do with those three topics you mentioned. It would basically be impossible.

    Oh no! Your head might explode under the load of logic!

    There’s good news though – since I obviously can’t post on anything on here that has nothing to do with those topics because they keep getting pulled in by AML, I’ll just have to stop posting. But you see, I have a side reason I have to stop posting. I have to stop posting (and I mean it this time) – its charity for miachica so her head doesn’t explode.

    It’s been fun. Seriously. I’m stopping right now, or my wife will slap me for breaking my word.

  140. If anyone is confused about what I’m saying, just read the above:

    https://investforlife.wordpress.com/2008/08/15/i-trade-response-now-available/#comment-7988

    Later. This place can be interesting. For those of you who run the site, keep up the good work.

  141. Olint also had inside help at NCB. The players: Olint, Overseas Locket, David Smith, Peter Bovell, NCB, Lewfam, the Martinezs, F1, Ingrid Loiten, Harris, TCI government, TCI banks, Jamaican government, and so on. I am focusing on the part of Olint history that I know. If you have no personal knowlegde of the events and watched what was going on, then you are a spectator and have no direct knowledge.

  142. Why does JIJ and I Trade FX share the same phone and fax numbers? Multi-million dollars sharing the phone and fax is fishy. They could not afford a $40 phone line? Does I Trade FX employees even know that JIJ exist?

  143. Multi-million dollars companies sharing the phone and fax is fishy. I-Trade sitting on a $20 million reserve. JIJ setting on $60 million.

    Lance

    “Oh no! Your head might explode under the load of logic!”

  144. Bovell is selling a house in the TCI bought with our money bt DS!!!!!!!!!!

  145. That shud read ‘by’ DS

  146. I have money with a feeder club IPS international.
    Does anyone have info on it. I heard the head was put under house arrest ar someting her name is O.S
    anybody

  147. For a lot of money!

  148. And of course the cars!

  149. When sunbiz comes back up, I will be building a timeline on WorldWise for its entry into the US with their new companies, properties, and houses. LewFam LLC will also be explored if there is one in FL.

  150. “did anyone count the number of accounts that Olint had with I-Trade FX and why would one need so many?”

    Depending on your trading platform / company, you might want to have several accounts to allow you to do FOREX Hedging. Hedging in the FOREX market is synonymous to a STRADDLE in the Stock Options market. It is basically a strategy where you are able to go both Long (Buy) and Short (Sell) on the same currency pair. By doing this, you are holding the currency pair on both sides hoping that the pair takes off in one direction, thus making you money on one while closing out (stopping) the other. To do this strategy with a Spot FOREX broker where you are not able to hold both positions at the same time in the same account, you will need to Buy the pair in one account, and Sell the same pair at the same time in a different account. The broker will allow you to do this in separate accounts.

    It is just a lot easier to execute when the broker allows for “hedging” or “straddles” in the same account.

    This is a pretty good strategy, but is very risky for many reasons. One big reason is that the pair could go sideways for a while then suddenly swing up or down taking you out on one side. This will then leave you with one open trade on either the Long or the Short side. The remaining trade [the one not stopped out] could also go sideways and swing in the opposite direction against you, and now you have just lost BIG DOLLARS in your account on both trades.

    The big winner in a trade like this is the broker, who would have collected a spread on both trades.

    This is a very complicated strategy and must only be used on very short-term trades when you expect the pair to move rapidly in one direction or another, with some short-term continuation on the remaining trade.

    Let me say this again, as I have said several times on this blog site. DS was over his head trading the FOREX market. He may have made some money early in his trading for OLINT, but saw some significant losses, as confirmed by I-TradeFx’s response, and then he turned the club into a Ponzi scheme.

    All you investors in the OLINT club, you should be thanking God that DS is out of business right now because we have seen some of the most volatile FOREX movements in years. In this market, DS’ $750K loss would have been child’s play compared to the losses he would have experienced over the past 45-days. DS simply did not have enough experience in the overall financial markets to make good judgment calls on the most complex of the financial markets — the FOREX market.

    The NFA will respond to I-Trade’s response over the next 2-week and we can expect more drama and exposures. One thing is now clear from I-Trade’s response; OLINT was not [maybe?] laundering money. But he was clearly helping himself to the remaining funds in the club that he did lose a lot of money trading.

    Did anybody pick up on the fact that I-Trade mentioned that OLINT’s members were high net worth investors? If this is what DS told I-trade, then this will be investigated as well. I know many persons in OLINT with no pot to piss in right now that OLINT is down.

  151. Within the next two weeks when the pressure on some members really heats up you are going to hear a lot of catastrophe stories.

  152. AML:

    You will notice that the two single family properties (USD$360K & USD$380K) were brought with no associated mortgages – cash sales. The USD$7.85 Million and the USD$3.65 Million commercial properties do have mortgages (one is a vacant land).

  153. PIPSologist:

    Thanks for that explanation. I fully understand your explanation. But wouldn’t one only need a pair of accounts per firm? Or could you have multiple hedging (more than two) going simultaneously (pardon my ignorance)?

  154. sirach:

    Why did Usain Bolt ease-up 3/4 way in the 100m? It remind so much of the other Jamaican sprinter from Canada…..Ben Johnson (?). The way I saw it he could have done 9.5!

  155. @ PIPSologist

    Agreed that most trading platform does not allow you to hedge but the trading platform in question allows you to hold opposite positions per currency pair….it has a hedge button.

  156. DaveSin — to execute this strategy with a company that does not allowing “hedging,” one would only need a pair of accounts per firm –or– simply have another account with another firm. So you are absolutely correct. Keep in mind, however, that this strategy works best when you are trading from the same account because the FOREX market moves so quickly. Several brokers offer this type of account.

    In the case of DS / OLINT / JIJ, et al, I do not know if this is what they were doing. Multiple accounts in their case may have been monkey business.

    Let me say this based on a series of posts from Lance and follow up by other bloggers. DS and Martinez have no clue about the FOREX market. They both concocted this whole strategy and swindled money out of poor people’s pockets. These are crimes committed before man and God and they should / will pay for these crimes. I purchased Jared Martinez’s book from a local book store and returned it after the first 3 or 4 chapters. The book was junk, and I suspect that his MTI course is no better.

    Let me make this absolutely clear to all of you on this blog. There are no holy grails to the FOREX market, and no DS, ITradeFX, LewFam, MTI, J. Martinez can teach anyone how to trade this market for consistent long-term profits. There are lots of funds passing through the FOREX market on a daily basis ($3.1Trillion daily), and so there is a lot of money being made and being lost. Can you make big profits in the FOREX market — YES — just ask George Soros or Warren Buffet. But these Billionaires are not consistently trading the FOREX market, they simply take a portion of their risk money and expose it to the market. And when they win in this market, they win BIG!!!

    Contrary to this strategy, DS, MTI, Martinez are telling people, especially poor people, that they can turn $1000 into $1000,000 trading the FOREX market. Once again, this can be done, but it is not the norm.

    I trained this couple on FOREX market by providing them with all the tools at my disposal. Because of their grasp of financial market in general, they quickly embraced the FOREX market because of the potential and the great leverage offered to us retail traders. They opened their trading account with FOREX.com (Gain Capital) starting with $9500 of their risk (play) funds. In the first 20-days of trading in their live account, they had over $21,0000 in their account. They followed all my strategies and developed some really neat strategies of their own. They thought they had the market figured when so they started to utilize the leverage offered by FOREX.com (200:1 leverage), and then the $21,000 in the account quickly turned into $800 after several margin calls from the broker and many forced closed trades. The funds evaporated in just 8-hours of trading while they were sleeping.

    This husband and wife team had over 25-years experience in financial markets, but did not grasp that the FOREX market is not a respecter of person. You cannot master this market on a consistent basis and neither DS nor Martinez has been able to do so as well. DS made a couple good / profitable trades initially, got over confident, and got wiped out by the world’s fiercest financial market. He panicked and turned the OLINT into a Ponzi scheme.

    The other strange thing about OLINT /DS is the fact that he was trading these large sums of money in regular Spot FOREX accounts like I-TradeFX, FXCM, OANDA, etc. where he would be paying a spread for each trade? When the amount of funds being mentioned on this blog, DS should have gone directly to the market makers and get his own data feeds and charting tools. Establishing such an outfit is so much easier today than say 10-years ago.

    With no demand for disclosures and transparencies by his members when they joined, DS really has nothing to worry about. OLINT members really invested in the club at their own risk, and they are now reaping the rewards. Some early investors in the scheme (Ponzi) made out pretty well, while some are left holding the bag.

    I think DS is a genius in how he setup the whole club concept, where he is not necessarily the owner, but rather a MEMBER like every other club member. Now this is genius. Also, keep in mind that he never invites new members to join the club, it is always an invitation by an existing member, with DS copied on the email invitation. I received so many of these invitations and rejected them all.

    As a club member, DS can simply tell the authorities (investigators) that he lost his money in the CLUB just like other members did. What a genius. Most scam artists are geniuses.

  157. Thanks for confirming thedge trading on the I-TradeFX platform, ramacan.

    I just made another post indicating that DS may have had these multiple accounts for another reason.

  158. By the way, where is DS in all of this? Has he even been seen by onyone on this blog?

  159. Davesin

    Maybe Bolt eased a bit before going forward because he emulates DS who pays to some then continues down the no pay path.

    As you see Asafa and Frater got what quack-quack get.

    See? Some get paid…and most get what quack-quack get.

    Also as the Usain bolt analogy shows…it is the new hurry come up showy types that collect….and the long haul, dilligent faithful (the Asafa’s) get quack-quack.

    DaveSin? Are you a Usain or an Asafa?

    Who knows perhaps Asafa going to deal wid a case back in the dressing room.

  160. PIPSY

    DS and JS deh pon the blog regular.

  161. PIPSY

    “DS can just tell the authorities he lost the money in the club like everyone else..” hahahahahhaaahahahahahahahahaahahhahahahaaahahahahhaaaahahahahahhahah……….hahahahahahhahaah…ah….ah.ah..ahahhahaaaaaa

    phew…..ahahaha..

    O.k. PIPSY but it is not the authorities he has to worry about ..hhahaahahaaaaa

    Some devotion time for that one PIPSY…whew..hahahaaaa

  162. sirach — DS will need more than devotion time to overcome this one…he will need a change of identity.

    I think DS / Martinez had a lot of balls to continue with this scheme after losing on bad trades. They should have closed down the scheme and issued whatever principal was left in the accounts back to the members. But instead they continued with the charade and may pay for it dearly.

    I suspect that if DS offered to returned remaining funds because of losses, some members would have said, “DS, we trust you to turn things around, keep my money, because I need to see the big interest on my statement every month.”

    I know of a couple members who would have allowed DS to continue holding their funds. These folks have been blinded by the “master trader” and have drank the “DS Kool-Aid.”

  163. Okay – so delving into the real estate records of strachan & company – is that just for disclosure purposes? money dun spend arredi so if things pop down how would world wise investors be able to lay claim to assets in another country?

    I recall hearing that the investors in world wise were put in groups (of 19? I think) to form their own little trading partnership independent of the world wise company itself, which essentially acts as a facilitator and maybe record keeper (of each partnership members gains/losses), but not much else.

    So basically I doubt any member of the WW group – Strachan et al, would be on the hook for anything at all.

  164. Pipsologist!

    Could it be that the simple explanation why Olint had multiple accounts with I Tradefx was this was the way they preferred to trade different currency pairs. That is using separate accounts….That hardly suggests monkey business does it?

  165. Everyone lost money but Martinez??!? Sounds very bad!

    Did he pay DS back his capital in the company or was the company “recapitalized” with the same funds from DS to push him out?

    How much did I Trade FX make on those trades?

    Where is the 60 million “under invesntment” by Martinez? What kind of managment contract did he have to manage those funds?

    Those are some important questions.

  166. Pipsologis said

    “I suspect that if DS offered to returned remaining funds because of losses, some members would have said, “DS, we trust you to turn things around, keep my money, because I need to see the big interest on my statement every month.”

    I know of a couple members who would have allowed DS to continue holding their funds. These folks have been blinded by the “master trader” and have drank the “DS Kool-Aid.”

    I agree to an extent and herein lies my disgust with DS He should have come clean long ago and given Members A CHOICE, quite afew might have stayed regardless but others werent given an option
    Making losses is a part of high risk investing , lieing
    and deception is NOT

  167. Pipsologist SUKs with all his ignorance and lies

  168. leave David smith alone he never meant to hurt anyone

  169. anybody know anything about IPS interantional or formerly Image Consultants or do i have to call FSC which i need to do monday morning. thanks

  170. invest for life is nothing more than a little weasel who keeps removing my posts go to HELL

  171. weasel…weasel…. only weasels censors their blogs denying persons the right to express their opinions if it differs from their own……WEASEL….investforlife

  172. The Surest Sign that Intelligent Life exists elsewhere in the Universe is the fact that They have not tried to contact us…especially the intelligent know-alls amongst us who tirelessly post to this board.

  173. Pipsologist!

    Could it be that the simple explanation why Olint had multiple accounts with I Tradefx was this was the way they preferred to trade different currency pairs. That is using separate accounts….That hardly suggests monkey business does it?

  174. Congrats to the Bolt & our Jamaican ladies – yes we are great – this is proof to the world…..we have proven again that we can be world beaters!

    More wins to come….

  175. Yes we are world beaters…..Bolt the Girls and David S.

  176. Both men and women 100 M Final video is here:

    http://www.hostyah.com/

    Got link from #4 Bus. Big up to the #4 bus!!!

    MK:

    I guess Jamaica have the best Forex Traders and Sprinters 🙄

  177. Sprinters yes!

  178. What’s #4 Bus?

  179. mk

    I agree we have the potential to be great. Until we are great with the money thing though then our insecurities will have to be quenched with sports and music etc. One is never independent until you are financiallly independent.

  180. For pictures of all Maydaisy principals ingrid Loiten, her son Chris and D Matthews, visit Loiten’s original website.

    http://homeworkjamaica.com/mainpage.htm

  181. Watch mi!! What a ‘ting eeh?! If money did a run di whole a oonuh would a deh a Beijing a kin oonuh teet.
    Instead ooonuh a blog blog bout oonuh money.
    MONEY DONE…Get over it!

  182. “Paragraph No. 23. Respondents admit that Olint-TCI and TCI-FX withdrew approximately $20 million and $40 million from their respective accounts held by I-Trade and that on March 28, 2007 those entities wired those funds, in addition to additional amounts in May 2007, to JIJ to allow JIJ to manage the investment of those funds for those entities”

    Wow I am amazed that Olint-TCI and TCI-FX has the power to tranfer money from I Trade FX bank accounts to JIJ.

    I think you guys(Martinezs) did not get your moneys worth out of your lawyers.

  183. Hey, I Trade FX, can you give me the same power as Olint-TCI and TCI-FX so I can tranfer that $20 million that you still have to my company’s bank account?

  184. Did MTI come here for any more courses ?. are is Jamaica a dead market ( till the next couple of years for them).

    Interesting, when they deny, they do not offer their version as to what happened, which is typically what you do especially when you are innocent.

  185. Anyone here went to Jared Martinez’s classes at MTI in New Kingston on August 14 – 15?

    What was his take on Olint, and did he elaborate about MTI’s ad in the Sunday Gleaner of July 27 blasting Forex Scams?

  186. That fellow lance writes like a brethen named gi***n then works at MTI jamaica, its amazing the length that MTI will go to to keep milking the fat calf that is jamaica. Pity them no know the milk dry up and them soon start drink piss 🙂

  187. Does F1 really have a legitimate case? or probably they are just taking their last gasp.

  188. Can anyone on the blog confirm if world wise payed out any money?

  189. Misick wife call DS name today at the inquiry. Dem seh SB suppose to speak soon…..lawd Jesas.

  190. debi on August 18th, 2008 at 5:43 pm Said:…”Can anyone on the blog confirm if world wise payed out any money?”…

    Why don’t you call him personally? I’m sure he will answer any questions that you might have about your funds. He is listed in the White Pages in in South Florida (Davie). There are two numbers listed for him…go ahead and call. Tell him I said it was O.K. Best to get him after 8:30pm!

  191. Anyone here went to Jared Martinez’s classes at MTI in New Kingston on August 14 – 15?

    What was his take on Olint, and did he elaborate about MTI’s ad in the Sunday Gleaner of July 27 blasting Forex Scams?

  192. davesin, can you give me the number for mr harris, mr hill and mr smith? you really enjoy dating honest men.

  193. DaveSin is your last name ponzi?

  194. Sirach

    Whats happening with the case/inquiry? Who is SB?

  195. http://www.modbee.com/local/story/253956.html

    you guys should read this….it sounds exactly like what’s going on with Olint verbatim!!! it’s quite unreal. Only this guy had 10mil, DS gone to space with the amount of money gone.

  196. The responses on the blog seems to have been slowing down dramatically – must be the Olympics.

  197. mk

    The inquiry is rolling. Witnesses are being readied.

  198. for all the people that saying man would not confess to wife in writing…

    excerpt

    ———————-

    Q: What tipped off the authorities?

    A: The indictment says Washington Mutual Bank reported irregularities in my accounts in August 2006, but I don’t think anyone was interested until months later, after I gave my ex-wife a written confession. I had just finished teaching a class called “Mind Over Money” and I felt like such a fake. I was suicidal and realized I had to come clean. I spent three days writing and my ex-wife gave my journal to my former business partner, who handed it out to our employees and turned it over to the authorities. I began writing letters to the investors the next day, promising to make good on my debts.

  199. What happened to Azan. Hasn’y his own self-imposed timeline to repay elapsed?

  200. STOP

    Freeze! Nobody move, nobody get hurt.

    You have to talk to the boss. All other actions are fruitless. Game, set match? You know better with this opponent.

  201. I don’t even start serve yet.

  202. Mi Case an deal wid the matter……time a get short.

  203. Debi,, on August 18th, 2008 at 7:54 pm Said:…”DaveSin is your last name ponzi?”…..

    Debi:

    That’s a trick question, isn’t it? That explains your attraction. I can be malevolent and say yes, but then you would flood my bank account with funds for me to trade for you @ 20 % monthly interest. So, to help you help yourself, I will show some level of restraint and pass on answering that question.

    But if you insist, my bank info is: Bank of America, account number is: 005981477. 🙄

  204. questioning, on August 17th, 2008 at 12:12 pm Said:
    anybody know anything about IPS interantional or formerly Image Consultants or do i have to call FSC which i need to do monday morning. thanks

    Yes, I know a little about IPS what were you interested in?

  205. To — “Get the facts b4 you post”

    Like everyone else on this blog, we are all just speculating on DS/OLINT. I never said the trading team was conducting monkey business…here is what I said…

    “In the case of DS / OLINT / JIJ, et al, I do not know if this is what they were doing. Multiple accounts in their case may have been monkey business.”

    MAY HAVE BEEN…

    So “Get the facts b4 you post,” like all other bloggers, including you, unless you are DS himself, we are all speculating and forming opinions (optimal word – opinions) based on some known and mostly unknown data / information.

    As far as I can see from these blogs, no one has the truth [facts] on what is going on with OLINT / DS. The only TRUTH is that the members have not been paid in months. The only thing in life that will stand the test of time is the TRUTH. Truth or Fact? Do an indebt study on Fact and Truth and report back to the blog.

    My statements on this blog have been consistently to the fact that DS / OLINT could not have been paying out these fantastic returns, now I guess only time will really tell.

  206. To A Real Trader,
    Here is what you wrote…

    “Could it be that the simple explanation why Olint had multiple accounts with I Tradefx was this was the way they preferred to trade different currency pairs. That is using separate accounts….That hardly suggests monkey business does it?”

    That may well have been the case, we do not know for sure.

    I am not sure if you are a trader or not, but if you are, do you need multiple accounts from which to trade different pairs? Assuming you trade the FOREX market. I have never done it, but I can see him [DS] setting up his accounts this way for ACCOUNTING purpose. Again, I am just speculating because I have no fact, like most here.

    In DS’ defense, I do trade from about four (4) different FOREX accounts, based on my strategies or the PIP spread on certain currency pairs. In the case of the currency pairs, the spread difference can be as much as 15-PIPs from one broker to the next for the exotics. So these would be different accounts with different brokers to take advantage of lower cost of entry.

    As I have posted on this blog before, may GOD shine His light on all the OLINT members and help you to recover some of your funds.

    Respectfully and Prayerfully Submitted,
    PIPSologist

  207. Alternative schemes demise not impacting commercial banks

    Minister of Finance Audley Shaw said the bad debt portfolios of commercial banks remain unchanged despite the problems facing unregulated investment schemes.

    http://www.radiojamaica.com/content/view/10915/52/

  208. Jay

    You believe his hype? He is shortlisted for wukhuse himself. His meetings with JR,DS,MM in TCI are well documented. Early days Audley Shaw. hhmhm how long long can you hold that line? hhmmmm….you a fret cause election on the way.

  209. “The residential component is estimated to have declined,” Hughes said.

    However, a drop in residential construction was not unexpected in the face of the fall-out in the bevy of unregulated investment schemes in which Jamaicans had parked billions of dollars with the expectations of double-digit monthly returns.

    The Gleaner Wed Aug 20th 2008.

    what say u AS?

  210. July 11, 2008

    Yesterday, the Governor announced a Commission of Inquiry for the Turks and Caicos Islands. We feel that this date (July 10, 2008) will go down in history as perhaps the day our nightmare finally started to end.

    There is still a lot of work to do to make sure the Commission of Inquiry does not go off track and is as comprehensive as needed.

    But it should not take away from the sense of relief and accomplishment that all those who have fought for this day should feel.

    Respectfully,
    Editors@TCIJournal.com

  211. Bolt, a new WR @ 19.30.

  212. Melanie Walker, Gold in the 400 metre hurdles.

  213. 2 gold one day

  214. Jamaican large every time..

    best Athletes… world champions.. we good in everything we do !!!

    Jamaica to the flipping world !!!

    also big up to David Smith and Carlos Hill.. world Champion con-men

  215. culljull

    What about Azan and loiten, Harris, Strachn (SP) and Vision Increase? They hit the tape in record time.

  216. Loiten hit the mark faster than Bolt and she claims she’s already started anew. Training now for the next 4 years. Will they have to return their medals like Marion Jones? If so, when?

  217. Who was Balco in the team? The GOJ? Misick?

  218. Sirach:

    Yuh funny mon. What would happen if you line up all the Jamaican Traders, with a pot of gold at the end of the race, which one will finish in record time? Of course Jared Martinez will be the coach of the traders (who need Vince Francis)!

    Sirach, come up with a game plan for us…..call the race.

  219. its really happening, on August 19th, 2008 at 2:18 pm Said:
    Yes, I know a little about IPS what were you interested in?

    Im glad you responded this is what i want to know.
    I would like to speak to someone who is a client because i am a client but i live overseas. I have not been able to reach anyone by phone and i cant seem to find anyone else who is a client. I also heard that the principal was arrested for someting not sure heard it was on the news in jamaica.

    Also i get the feeling when i spoke to the customer service people that they believe i was the only one going ballistic and everbody else was calm .

    A little birdie also said that is only rich people have money with them so they can afford to lose it. thaths not the case with me so please help to shed some light on the whole situation.

  220. Note that I trade claims Olint was an investment club for “high net worth investors”. In the US this term generally implies net LIQUID assets of more than 5Million USD AND a high level of knowledge / sophistication. Very very few of Olints investors would qualify as high net worth. Wonder why I trade is trying so hard to cover for DS???? Could it be that he really is still the money behind the corporation? Wouldnt be the first time a trading co had a silent (and hidden) shareholder.

  221. mi bet 200 dollars pon DS 🙂

  222. chasethedream

    Naw Sah, Wildish or Girvan….and what about the Husband and wife team of the Voche’s. Rass no WS….yes WS. After him pick up the pot of gold him gone like Flash Gordon.

    Anyway as dem seh in yard “sprinta staya”……the PNP coming up dilligently from behind.

    Martinez get diqualified from the event. He is well known as a doper.

  223. We lazy. We have to wait. We don’t get no ratings. We can only wait for the dreamlords to speak. Then we are expected to just lapup their hogwash.

  224. Sick a dat.

  225. the sad part about this race meet with all the doped up runners and frauds, the spectators (Olint members) are all lining up to bet, and giving their money over in what everyone already knows is a fixed race….and then complain at the end that the athletes were dishonest. Duh!!

  226. Davesin

    Why don’y you call the dreamlords on this one. What them ago say now? Who them going to try shift the blame to now? Santa Clause? Who flyout with reindeer and the loot this time?

    Call it nuh Davesin?…..What now?
    in nine years everyhing going to be alright?

    A who code the game? Natty dread or lord ballhead?

  227. cally

    Are the members spectators or the promotors? Them promote the show and leave the gate open. Some spectator politicians sieze the moment…come inna di dance…and walk right out wid di suffera dem money easy just so…..Rass then dem teck the suffera money go watch Bolt run live a China wid all dem fambily dem…

    You si mi trial?

  228. I just spoke to NS of WW (he is my neighbor). He said he will participate in the race, if and only if, he is allowed to hold all the bets. He said you can all trust him and he would deposit the money with the Banker…Carlos Hill, under his account at NCB and let it grow some interest before the race start (kiss that money goodbye).

    Just to make sure we have a fair race (yuh done know yuh can’t just these Jamaican Traders), Sirach has just informed me that he has secured the services of the incorruptible Superintendent of Police, Harry “Bungles” Daley, to referee the event.

    In the event that first aid is need for the Traders, Mr. and Mrs. Misick were generous enough to offer their services, and will be on hand to administer first aid and general encouragement to the Athletes..nough bites to the losing traders!!!
    Anyway, I’m betting on Ricky Azan to win and IL to place!

  229. Sirach,

    No, the spectators are the members, not the politicians who have already taken their money and run, while the only people left looking around and hoping for the race to resume, despite the fact that the track has been ‘frozen’ by a cold wind from the North, are the members.

  230. http://www.cnn.com/2008/CRIME/08/20/miami.ponzi.scheme/index.html

    Smart people still get scammed. Looks similar to MTI and DS that they were promoting themselves on university property.

  231. http://www.fxstreet.com/forum/showthread.php?t=1005&page=20

    Read section “I Trade FX Takes the Stand”

    Some third party analysis of the NFA complaint.

  232. AML

    “It is time someone in authority in Jamaica or the Turks and Caicos step forward and tell us all what the hell is going on.@

    This will lead to their own demise. Right now both organisations are fighting for their own survival. Their attempt at cool exterior and nonchalace is laughable. That is fact. Their efforts continue in vain though because unless they can come up with the cash is strictly downward for these criminals. Be they elected or not.

    Olymipics come like a shot of morphine for the leaders now. Taking them to an intense high that shall be shortlived with the resulting crash coming later. We even beg mercy for them in advance. They live for power and status and a false sense of recoqnition. Their insecurities passed on by history drives them to this. When it is all gone for them (as it will be) I do not know how they shall cope. They thrive as the power brokers of inequity and once reduced to absolute rubble it will be tough for them. They know no better.

    Let us pray…

  233. To: PipSologist etc.

    All of you are a bunch of jokers. Not only is it possible to earn 10% a month and more but I do it consistently myself trading nasdaq stocks … Though I have tried Forex Trading I have not risen to the level of expertise necessary to effect such returns.

    Most who attempt forex trading are drawn by the high leverage available trading a margin account. Sometimes 100:1 and more. However, I contend that If one has $10,000 cash in his stockbroker account and has a 50% margin requirement which equates to leverage of a mere 2:1, they can earn 10% per month and more.

    How? It’s called Simple Arithmetic. With a margin account they could purchase 3600 $5.00
    shares of stock valued at $18,000 leaving a margin/balance of $1000 in their account to
    offset any adverse price movements. [With a margin requirement of 50% one only has to put
    up one half of the purchase price of the shares, or $9000.00].

    If those shares rose by only 30 cents, which is not an unusual occurrance during a single trading day,
    then that investor would have earned him or herself $1080.00 on the $9000.00 they had invested in that particular stock. [$0.30 x 3600] = $1080.00

    And $1080.00 is 12% of the sum invested on that trade [$1080/$9000] x 100 = 12% per month. This is especially so if the investor makes no other trades for the next 30 days.

    Forex Trading is not all that it is cut out to be, there are a lot more easier ways to make money, and the sooner we all realize this the better.

    lata

  234. 8 more months to go!

  235. http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=822&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com

    Cold as ice. The people a beg justice. The people a beg them 57 million. Him want turn Mugabe and blame everybody else. Sound like im bredrin whey feed Jamaicans pure excuse etc.

    Take independence bredrin. You real estate prices will surely soar. And what of the defense? When yardie want dem money yah now? What a circus.

  236. Must be trading the 57 million for the independence campaign.

  237. “All of the investment you see here is the result of our own hard work.”

    With what? The suffura money from Olint?

  238. “In the past some people have been overlooked.” = Olint members. hahahahahaahaaa

  239. http://wiv4.wordpress.com/2008/08/19/tci-women-speak-out-after-lisaraye-goes-to-police/

    You have to check this link: hahahahahaaa

    check the politician woman how she reads line for line from the paper. hahahahaha

    And the women in the background look bored like them a wait pon them pay. hahahahahaha

    The killer is when in the same breath asking for privacy she publicly says she supports MM’s decision to divorce the woman. hahahahahahaaaaaahaa

    Double standard in you face. hhahahahahaahahaa

    Does Ms. Clare as a member of the party think there is any credibility in this? hahahahaha

    Unno haffi check that link.

    By the way….Jamaican culture seh don’t teif people money.

  240. Veronica Campbell-Brown gold and Kerron Stewart bronze in the womens 200M

  241. Posted on August 21, 2008 by kingstonchronicle

    Congratulations Veronica Campbell-Brown in winning the 2008 Beijing Olympics Women’s 200m final in a time of 21.74 seconds. Allyson Felix of the USA coming in second with a time of 21.93 seconds followed by Jamaica’s Kerron Stewart on her 3rd place finish capturing the Bronze medal in 22.00 seconds.

    Muna Lee of the USA in 22.01 seconds for 4th, Marshevet Hooker of the USA in 5th in 22.34 seconds. Sherone Simpson finish 6th in a time of 22.36 seconds with Debbie Ferguson-McKenzie of the Bahamas in 22.61 seconds and Cydonie Mothersill of the Cayman Islands in 22.68 seconds rounding out the pack.

    ALL VIDEO OF JAMAICAN RACES ARE HERE:

    http://www.hostyah.com/

  242. Sirach,
    “You have to check this link: hahahahahaaa”
    ____________________________________

    Dat funny fi tru! ha haaaaaaa sa, mi caan stop laugh!!.
    yu nu see se the Turks people want kick out Lisa!

    MM get bite pon him ears and LR get bite pon har shoulder! How dem love bite suh?
    yu caan tek the de guetto out a some people!

  243. “WIV4’s Joydel Trail reports on a Jamaican man suspected to have “stashed” ovr $4.6 Billion in various locations around the world, including the Turks and Caicos Islands”
    http://wiv4.wordpress.com/2008/04/16/in-the-news-jamaican-national-facing-suspicions-of-fraud-suspected-of-stashing-money-in-the-tci/

    Raatid dem fine de money!

  244. That seems to be potentially good news for investors!!!

  245. Very strange that none of you have commented that many of the responses by I-TRADE has indicated that OLINT was not involved in any suspicious activity. Nor has the authorities found anything incriminating in their search for fool’s gold. What you all gonna do when David comes through? Your silence is deafening!

  246. Next AIS Operator

    When you have fraud occurring, they will say nothing is happenning, we don’t know anything, or say there was no suspicious activity.

    If you know anything, you will know that Olint was trying to convert the Olint members to Olint-TCI or risk being kicked out of the club. I Trade FX response has proven the money laudering issue where you take money from a single source, funnel the money through 2 entities on I-Trade FX platform and then recombine the money under a single contract of JIJ.

    The chinamen tried hard to make this look legal.

    MONEY LAUNDERING POINT BLANK.

  247. The silence is deafening because the authorities/governments has said nothing and the courts in TCI has everyone else muzzled/gag ordered.

  248. Next Ais operator

    Ever thought we may privately know more information than even you? Yes even YOU.

  249. Next Ais operator

    Ever thought we may privately know more information than even you? Yes even YOU.

    Maybe we can’t tell all right now. Maybe DS does not realise the scope?

    But it is public that Olint withheld important info from members while still encouraging people to invest knowing things were not strait. That one point alone…..the fact that they are deceitful…what more do you need?

  250. Next AIS Operator

    “what you all gonna do when David comes through?”

    Answer:

    Continue to be ourselves. Honest, Hardworking, truthful and just. Treating people with respect and not honoring Satan through deceit and arrogance.

    What you going to to do?

    Have you been deafened yet?

    BTW what is the definition of “When David Comes through?”

    Is that…. “makes all the consequences of his actions to date right?”

    or is it the more simplistic thinking like “pays the money owed on the accounts?”

    I am interested to hear your answer because to make all the consequences of what has occured to date right is actually impossible. Money can by many things and many simple people. Money can NOT buy Time.

  251. Bloggers: Questions for today.

    Can money buy trust?

    Can it be purchased?

    Do we need tithing to trust in God?

    Can trust be regained after it has been destroyed?

    If so, how?

  252. Next AIS operator

    To take peoples money and not pay them back. This does not constitute suspicious activity?

  253. Next AiS operator

    DS has sneezed and MTI has caughjt the cold. Or vice versa if you wish.

    Responses made by people who lack credibility are simply responses made buy people who lack credibility. Full Stop.

    Check out PB responses and interview. Credibility issues? Check LAG. Credibility issues?

    The silence of DS,TS and WS is deafening. In that you are correct.

  254. To all:

    We the naysayers would like to believe we are wrong and that what we have noted to date is just an unbelievable dream. A ficticious tale of deceit, irresponsibility, greed, power and disrespect. Orchestrated by the politicians, thugs, mafias, social climbers, charlatans and persons who shout the name of Jesus in vain just buy their waking up a daytime.

    Such a nightmare cannot be wished away. The Osteritch method of coping only bellitles us more.

    A cocilliatory and repentant attitude might be a start Then perhaps they might be on a path of seeking forgiveness.

    Check CH and Cash Plus as an example. Because he has somew money stashed he continues to refuse to elude a certain confident attitude. He also remains unrepentant. When the iron gate shut you watch how fast that change.

    Consider DS. Because the money is frozen but is there in thoery the attitude is that this fact and this fact alone shall be vindication for Olint.

    All other consequences of their actions are then supposed to be deemed of no significance.

    That is arrogance.

  255. What really is the agenda of this blog? there seems to be all intention of only pursuing info that brings down DS

    Do any of the authors of this blog work for any merchant banks? any way linked to any banking or investment institution?

    I am asking all these for the record.

  256. its really happening, on August 19th, 2008 at 2:18 pm Said:
    questioning, on August 17th, 2008 at 12:12 pm Said:
    anybody know anything about IPS interantional or formerly Image Consultants or do i have to call FSC which i need to do monday morning. thanks

    Yes, I know a little about IPS what were you interested in?

    is there any reply

  257. truth supporter

    Check this link.

    BTW we on this blog are against all dishonesty and cheating. Especially when it involves the suffera.

    If the merchant bank a dis the suffera den ww wi lash dem too.

    We nuh cater to stomp out injustice and inequity.

    anyway check the link. It don’t have anything to do with DS. Or at least we hope not.

    http://www.jamaicaobserver.com/news/html/20080822T000000-0500_139331_OBS_BUSINESSMAN_FILES_US_________SUIT_AGAINST_WORLD_WISE.asp

  258. BTW DS bring down himself. Unno can’t continue to try and place blame anywhere you feel for everthing. DS bring down himself and a lot of others. He can change that. But he does not.

    NS is the same. IL is the same. JM is the same. GH,VI and so on. They could change things bbut remain selfish and self absorbed. Time longer than rope.

  259. Siriach, Money cannot buy trust.BNS found this out and had to boot WC,after he had impregnated his 4th bank employee. WC attacked both Cash Plus and DS
    viciously at Bankers Association meetings..Life is circular. I love WC because
    he is a black man. He caught browningitis, which in its Jamaican form can be fatal.

  260. Money cannot buy trust, it only can buy temporary loyality. Trust is hope that a person does the right thing when you deal with them and do the right stuff for you.

    truth supporter, on August 21st, 2008 at 2:01 pm Said:
    “What really is the agenda of this blog?”

    Notify the public of scammers and criminals and what they have done.

    Scammers and criminals say one thing, but they do something else.

    My angle is money laundering. Money laundering feeds the drug cartels, mafia, and criminals who want to make a fast money. What destroys our society, answer drugs and crime. I am not tied to any financial institution. I am tied to society and I see crimes being committed by all players tied to David Smith.

  261. Is four a dem W “B” C sen pon society fi come turn shotta pon we in wi old age? Where is the accountability? Losing a job is not enough. Dirty laundry fi air out. Hiding it will only cause it to mildew, get toxic and hurt out society down the road.

  262. Jamaica DOES NOT NEED ANY MORE FATHERLESS CHILDREN!

  263. David Smith issues ststement. There is a new letter posted to the olint website today. I guess that the email will soon hit everyone’s inbox shortly.

    STATEMENT BY DAVID SMITH IN CONSULTATION WITH HIS LEGAL TEAM

    I have had consultations over the past few days with my Jamaican and Turks & Caicos attorneys-at-law. Lord Anthony Gifford QC, the leader of the team, was admitted to the Bar of Turks & Caicos Islands on 15th August 2008 for the purpose of representing me in the Court of Turks & Caicos Islands.

    An application is being filed with the Supreme Court of Turks & Caicos Islands on 18th August 2008 by my local attorneys-at-law, seeking the discharge of the restraint order which has prevented me from dealing with any of my assets, or my companies’ assets, in these Islands; as well as the return of the documents and computers which were seized from me by the Turks & Caicos Islands police.

    My attorneys-at-law advise me that this application will be heard in September 2008 and that they are confident of a positive outcome.

    The freezing of my accounts and assets in the Turks & Caicos Islands has meant that I am prevented from either trading club members’ funds or from making repayments. The situation is on hold until the litigation commenced by the Attorney General of Turks & Caicos Islands has been resolved.

    However we are using the time to proceed with the audit which was referred to by my attorneys-at-law in their statement of 18th July 2008. Auditors have been retained in order to produce accurate accounts of what is due to members, and what is due from members who have been overpaid. That process is now continuing.

    I am still confident that the time scale outlined in the attorneys’ statement can be honoured. In that statement the attorneys said I was committed to fulfilling my obligations and making payments to members within nine months. That remains my commitment.

    David Smith

    16th August 2008

  264. “The situation is on hold until the litigation commenced by the Attorney General of Turks & Caicos Islands has been resolved.”

    Might mean he has been charged criminally. Does anyone know the charges or this is part of the gag order.

    “and what is due from members who have been overpaid.”

    Old Olint members are in trouble now.

  265. AML,
    The litigation is a criminal freezing order.DS is under investigation for arrest for money laundering and criminal fraud. Disclosures made by Lisa Ray M have made things worse. Most lawyers and Government civil servants will talk about the situation on the basis of anonymity. The 9 month wait is an attempt for DS to disappear with the money and to give your money to Lord G under the guise of legal fees. In Canada lawyers are not able to accept fees that are the fruits of fraud. I suppose in Jamaica and Turks anything goes.

  266. Bloggers are invited to telephone the Turks Attorney General,he will set you straight on the nature of the investigation and the reason for the freeze order.
    (He cannot talk about the Auld Enquiry).

  267. Harbour Shark

    If what you say is true let me ask you this then smartypants:

    If DS is under criminal investigation why would he not tell the members?

    Also why would he accept material help with his current living expenses and incriminate his friends that help him?

    waiting for answer “smarty”

  268. again does anyone know anthing about image consultants now called IPS international run by O.S. I cant seem to reach anybody and i am alone in the wilderness as i dont know anyone who has account with her. so it is hard for me to get a feel of whats going on.
    please any info would be nice someone told me that she may have been arrested orr something of the sort.
    help

  269. F1 want start again out if Cayman. Sound Familiar?

    DS want start again……but both want start agin without pating? hhahaahahahahhahaahahah

  270. Questioning,

    IPS International is just another pig totally dependent on Olint which means dem crash too. I am a member. Dem tek weh demself. No more office to visit and the latest crap is that dem having problems wid dem phone lines. LOL. Email is now the only means of communication…

  271. This question is for Marcus, Sirach or anyone else who can help:

    I registered with pacer and received login and password but i am still unable to view the case with F1 and IL. I went onto the website: http://dockets.justia.com/dockets/court-flmdce/case no-6:2008cv01040/case id-215541//

    What is the next step to access the case? as i am unable to find it.

  272. Puzzled:

    Investforlife has a copy of the case and maybe if you email him at the email address at the upper left hand corner, he could email you a copy.

    I was able to get to the document after trying different things…none of which I can remember off hand. Once you login, can you do a case search by the case number or the parties?

    The link you post above is no good!

  273. Since my name is AML, we are going to take a closer look at I Trade FX, Lisa Kim Estrada, AML, ethics, and possible fraud.

    In the NFA complaint and response, I Trade FX denies exactly when Lisa Kim Estrada was hired. In one part of the response, I Trade FX completely fails to admit or deny the allegation in a paragraph concerning I Trade FX, Lisa Kim Estrada, and AML.

    NFA says she was hired in August 2007. I Trade FX says she started to perform her duties on November 1, 2007.

    Let look at Lisa Kim Estrada. The Association of Certified Anti-Money Laundering Specialists(ACAMS) says she is a Certified Anti-Money Laundering Specialist(CAMS). She serves on the Advisory Board of The Association of Certified Anti-Money Laundering Specialists(ACAMS).

    The ACAMS describes her with the following paragraph:

    Lisa Kim Estrada, CAMS
    President, Five Point Consulting

    Estrada is president of Five Point Consulting. Estrada has created and implemented day-to-day administrative compliance issues in anti-fraud, anti-money laundering, and privacy policies and procedures for several product providers under one holding company. She served as the separate accounts compliance officer overseeing Rule 38a-1 compliance under the 1940 Investment Company Act for a product provider and worked closely with fund complexes and broker/dealers in the securities industry. Estrada received her juris doctor from Barry University.

    Lets look at FIVE POINT CONSULTING, LLC:
    http://www.sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=L07000117911&inq_came_from=NAMFWD&cor_web_names_seq_number=0000&names_name_ind=N&names_cor_number=&names_name_seq=&names_name_ind=&names_comp_name=FIVEPOINTCONSULTING&names_filing_type=
    based at 4610 BUCKEYE RD., TAMPA, FL 33624 US. The LLC was formed on 11/26/2007.

    Questions that come to mind is Lisa Kim Estrada a consulant or an employee? Did I Trade FX keep her form doing her job of doing AML compliance?

    I would have said she was an innocent bystander until
    https://investforlife.wordpress.com/ufo-time-line/#comment-9527 this came to light.

    This brings in serious ethics violations since being an I Trade FX(employee or consultant), you would have heard the name of David Smith as a normal occurance. She should have known what the NFA was requesting during their investigations. Or was someone not doing their job. Or even worse she bought a house from an organization that was the end receiptiant of a money laudering operation with her knowledge for possible hush money.

    There is alot of questions about Lisa Kim Estrada ethics and always I Trade FX questions about money laudering, fraud, and ethics.

  274. Incompetence and fraud continue to exude from the people that run I Trade FX, LLC ie. Jared Martinez, Isaac Martinez, and Jacob Martinez. After ripping off $40 million USD, the three do not have enough brains to pay $61.25 each to keep JIJ INVESTMENTS, INC., JIJ MANAGEMENT, INC., JIJ INVESTMENTS, LLC. legal. Does anyone trust these people? Their action proves louder then words. Or is it the Martinezes’ want the JIJ companies to quietly slip away because they were involved in a money laundering operation and a skimming operation. People in Jamaica are not going to rest until the money is recovered from David Smith and Jared Martinez.

  275. AML
    You are BANGGGG ONNN!!!. Martinez and company benefited from clubmembers money! They mastermined the whole thing, from the FX edcuation , coming to Jamaica legitimizing OLINT so we could have the confidence put more money in while they benefited each and every step of the way brokerage, education, david, brokerage, investments with clubemembers money…not to mention the skimming. We should look more into this JIJ trio of companies, realestate investment with clubmembers money washed through their brokerage is a serious thing! Watch out!!!

  276. is there any news on maydaisy, they seems to have vanished from the earth with peoples money. What is happening with Ingrid Loiten, is that money frozen too or is it just olint? Is she under investigation by the us authorities also?

  277. Killa,

    You must have been out of it for a very long time. Ingrid Loiten stoleUS$7M and fly away to South Africa where she has now setup business.

    http://www.alondoka.com/aboutus.html

    If you had money here consider it a total loss.

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