Olint Ruling in TCI delayed

We are receiving confirmed reports that the the Judge in the Olint case, in the Turks and Caicos Islands, has delayed the ruling until Monday, January 12, 2009. This is in order further review all the documents that he now has before him.

If this is true, the Olint faithful and others linked to feeder clubs and piggy-backers will have to wait a few more days to hear what is the status of the frozen assets of David Smith and Olint.

Update: We can now confirm. The Judge has reserved Judgement until Monday, January 12, 2009.

January 9th is here…

“January 9th is basically upon us..” echos Cullkull, a member of the INVESTFORLIFE community. He went on the place his bets on what will happen after January 9th.

“My bet is that the carrot will move to about March/April..
so I guess a lot more prayer vigil will keep etc.. but by time March/April come, there will be some new excuse and the carrot on the stick will move to around Aug/Sept.”

January 9, 2008 is the date when the court in the Turks and Caicos  is expected to rule on Olint and David Smith’s holdings in that country. These assets have been frozen since July 15, 2008 following raids by the Turks and Caicos Financial Crimes Unit.

Olint, the troubled Unregulated Financial Organisation(UFO) has reportedly not paid its investors for close to or little more than 1 year, outside of a rumours that a lucky or privileged few were in early 2008. In its hey day, OLINT paid an average return of around 10% per month.  After being issued cease and desist orders by the FSC in Jamaica, Olint shift operations overseas and apparently depended primarily on inflows from feeder clubs spread all across the Caribbean and the United States. (see related link below).

Since the delays in payments, efforts by many investors to recover the principal or a portion there of has so far turned out to be futile. Some have turn to lawsuits while others to prayer. Indeed a large section of church in Jamaica support and gave legitimacy to many of the UFOs operating in Jamaica particularly OLINT. Those clubs included Lewfam led my prominent and respected church man, Major Neil Lewis.

The role the MTI played is still up to question. Are the innocent or is there more to the story? I Trade- FX a company owned by the principals  MTI ran into problems with the NFA with David Smith’s Olint along with May Daisy  being named in the complaint.

The impression is being given that once the court rules in David Smith’s favour, money will somehow start to roll. Prophet Phinn appears to one those spreading that ‘vision’. What do you bloggers think will happen today?” We now await the court ruling.

Related