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.

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48 Responses

  1. Decision on OLINT assets expected Friday
    Thursday, 08 January 2009

    Investors in the embattled investment club OLINT will know Friday whether the authorities in the Turks and Caicos Islands will be ordered to lift a freeze on the assets of the club.

    This would pave the way for OLINT’s boss David Smith to resume payments to investors.

    In November lawyers representing Mr. Smith applied to the High Court in the Turks and Caicos Islands to lift a freeze on Olints multi-billion dollar assets.

    The High Court reserved judgment until Friday.

    Thousands of OLINT’s investors in Jamaica and abroad have been left in limbo since the authorities on the British dependent territory ordered a freeze of Mr. Smith’s assets in July last year.

    The action followed a major raid on Mr. Smith’s offices by a joint team from the United States and the Turks and Caicos.

    Officials on the Turks and Caicos Islands claimed then, that OLINT was involved in suspicious financial activities

    http://www.radiojamaica.com/content/view/14713/26/

  2. THE MADOFF AFFAIR (contd).

    The following excerpt from today’s Yahoo News shows that Madoff’s Scheme ran undetected for over ten years.

    No one knows yet how many people will emerge as net winners in the scandal, but the numbers appear to be substantial. Many of Madoff’s long-term investors have, over time, cashed out millions of dollars of their supposed profits, which routinely amounted to 11 percent to 15 percent per year.

    Asked for an example, Levitt said one caller, whom he declined to name, invested $1.8 million with Madoff more than a decade ago, then cashed out nearly $3 million worth of “profits” as the years went by.

    On paper, he still had $4 million invested with Madoff when the scheme collapsed, but it now looks as if that figure was almost entirely comprised of fictitious profits on investments that were never actually made, leaving his claim to be owed anything unclear.

    excerpt from: http://news.yahoo.com/s/ap/20090109/ap_on_bi_ge/madoff_false_profits

  3. Sorry… in regards to my previous post here is another excerpt.

    “Under federal law, the court-appointed trustee trying to unravel Madoff’s business can demand that people who profited from the scheme return some or all of the money”.

    How much do you want to bet that our courts and /or police do NOTHING to effect the return of the money paid out to some of the BIG BOYS like JOEY and BOVELL & James of Robertson fame…???

  4. A real trader.

    This is exactly the problem with Jamaica, not one of those persons who we are aware of made “profits” will be asked by the locals courts to refund any monies.

    Jamaica is not a country where justice prevails.

  5. JUST ALL BE PATEINT. DAVID SMITHV WILL BE CLEARED

  6. TCI does not recognize U.S. federal law. You comment would also mean that those which invested and closed their accounts prior to 12/2006 would be liable. This would seem highly unlikely to be enforced in any court.

  7. how will they ever know who has been overpaid ?. An audit is only as good as the information available.

    no matter how good an auditor/accountant you are, if it is not documented , then you will never know who has been overpaid

  8. Sometime ago (I think it was November 2008) I reported that an investor in Jamaica had been paid by Olint. At the time I indicated that I am not sure how the investor got really got paid.

    I can now confirm that he did in fact get paid after using to strong arm tactics on David Smith.

    Threat were sent and what was tantamount to a “hostage” situation was put into effect and the guy was paid his full sum owing (Balance as per his last statement – NOT just his intitial principal).

    This is not a story this is factual information. What the individual did not wish to mention how much it was and I could appreciate that.

    So there you have it folks.

  9. First line should read November 2008.

  10. Cullkull:

    I’m not sure if your question is related to what “a real trader” or Jay said, but if it is, they are talking about something completely different.

    The issue “a real trader” is talking about has to do with “Clawback”, where individuals who got back more than (Principal +interest) they put in (Principal) are made to give back BOTH or just the interest.

    If you are talking about the issue of overpayment…more than the “rightful” amount (Principal +earned interest), then disregard the comments made above!

    Jay:

    I think the government of Jamaica has too many issues to deal with right now to be even concern with UFO issues (uncontrollable crime wave; burgeoning inflation, rising unemployment; increasing debt load; devaluation of the dollar; diminishing revenue stream, corruption and the list goes on).

  11. Davesin,

    While I can understand your line of thought, there are different segments of the government that are supposed to address its own areas of responsibilites.

    Fraud is to be addressed by the Fraud squad, organized crimes section deals with gangs etc.

    There is really no excuse , ( except if no reports are made to the police ) to address issues of fraud.

  12. Where is Caseta Bert?

  13. The Judge has received all the data and will review it over the weekend to render his decision on Monday

  14. From Red P

    posting peoples private account balance info?? What does that prove?? can anyone answer that?

    I don’t think it is people’s balance info….it’s random transations…..encashments and full account balances have not yet been revealed.

    The information keeps David Smith honest. It is an invitation to keep politicians, lawyers, bavckers and all the rest honest to. Pray for them Red P…they have a tendancy to be dishonest and only scamper back to honestly when they see that the rod of correction is Real as real can be.

    Red P if you want to hang out on this blog or “blog uncensored” you have to get up to speed quick……throw away all false teaching from number 4 bus….it can not matriculate to the othe two blogs…..start praying again Red P.

    You ever hear bout the Puppetmaster?…..or BUSHMASTER?

  15. Most people have moved past the point that David Smith was trading. reason being… 10 % per month in the FX game at Olint’s scale is pretty much impossible.

    I was speaking to his accounting issues. it can never be entangled if the information is incomplete or destroyed. one can never be sure who was overpaid, if the accounting is out of wack. Assuming you buy the argument about blaming the accountants, since NCB,BNS,FSC,etc have shown that they are not to blame

  16. “….insisting that they remain unshaken in their resolve to see him gone. At no point, however, did they betray any pangs of conscience for having aided and abetted (and perhaps profited for years from) the acts they now find so repugnant.

    In fact, to reiterate the lament I expressed in the commentary referenced above, it shall stand as a historic failure of nerve that, despite knowing years ago that the Premier was running our ship of state aground, these Cabinet ministers did absolutely nothing to avert the shipwreck from which we are now begging the British to rescue us.

    This brings me to the real cause of this drama: the Commission of Inquiry into government corruption and serious dishonesty.

    After all, no matter how indignant their voice or how firm their resolve, none of these ministers can deny that, but for this Commission that has them all floating in legal jeopardy….”

    “……smack of rats abandoning a sinking ship.”

    http://www.tcijournal.com/index.php?idsub=780&id=8

    First mate? First mate?……report to the SS Gordon for debriefing……..the frigate HMS “BUSHMATER” and the the Carrier “President Puppetmaster” are within sight….

  17. So Yellowde, it means Olint investors will have to hold their breath over the weekend, as no decisions will be forthcoming until next week.

  18. David,

    January 9th has arrived!!!! What next old friend?

    Remember this: Repentance does not come by easy forgiveness but rather through suffering the consequences of your sins which will eventually bring forth humility.

    It is time to be honest to yourself and in turn to your investors. We must not forget- “Pride comes before destruction and a haughty spirit before a fall”.

    Quickly retreat and quietly reflect on the words of the good book- take a glance at the Acts of the Apostles and remember how the great father humbled Saul.

    Now my last piece of advice to you is this- follow your heart and conscience. Stop allowing your lawyers to delay the inevitable. Take away the shame you have brought unto your family and be HONEST.

    Time is not your friend. You must act quickly and instruct your lawyers to assist you in accomplishing this task. It will help to lighten the consequences of your sins.

  19. First mate? First mate? The Destroyer “Sirach” Has left Port and is heading out to deep open seas.

  20. First mate? First mate?…….First mate?

  21. “Captain”…..yes Fist mate where have you been? … “Captain our review shows that a high percentage of sailors onboard the SS Gordon do not know how to swim!”……..WHAT!…First mate you have got to be kidding me……”Sir no Sir”

  22. “Captain?” What NOW first mate!……”Captain our radar shows the Destroyer on course on a new set of coordinates………Where is it heading First Mate?…….”To the SS Gordon Sir”…….

  23. First mate?….”Yes Captain?”……..where is the vessel now?…….”The Destroyer seems to have adjusted course again Sir”…..WHAT?……….”We have asked for some time Sir”……….So what is the vessels new course First Mate?……..”Seems the Destroyer intends to flank us closely Sir”…….First Mate call the HMS Provo immediately……”Sir the Provo has run aground.”

  24. “Sir HMS Provo took an agressive posture toward the Destroyer in the week Sir.”……….so what has happened?……”difficult for us to see exactly Sir” ……Why is that?…….”Sir thick black smoke bellows from the Provo Sir……visibility is low.”

  25. Sirach:

    Are you in TCI?

  26. Sirach,

    Before you fire your nuclear missile and totally destroy the HMS Provo, please allow her Captain a brief second to think about his options.
    The best one is for him to send his lieutenant in a dingy and begin “cease fire talks”.

    I hope for his sake he will take you seriously this time. Alas he might not, and the aftershocks from your missile will be felt far and wide.

  27. The TCI was such a beauty,with wealth that few surpass.But then someone turnover the sail over to a captain name MM,now we are sad,we a bawl Captain the ship is sinking,captain the seas are rough should we abandon ship or perish slowly or call in the Jamaica posse to rescue us??????

  28. O.K, now I understand. The engineer trun off one of the filters and of course we suddenly have all these new riders!

  29. “Captain?”…..yes First Mate…..”sailors from the Destroyer on leave on the Rock are advised not to get a mind of their own in the absence of the Captain. Any such action will immediately be sent to the BUSHMASTER and the Puppetmaster for pending disciplinary action….”…..First Mate……where is the Destroyer? “The vessel is on course for the SS Gordon”……AGAN?….”Dead on Sir.”……But we asked for time!……HMS Sirach does not give time based on the conditions of others.

    Damn…..BUSHMASTER is awake.

    Lata

  30. “Captain?”..yes first mate the destroyer seems to be circling us now at a non aggressive distance…..”Why is that First Mate” seems that those who read and don’t speak on the blog contacted the Destroyer real quick and adjusted their argument…..”Why is that First Mate”…..Sir…..no one likes to be on BUSHMASTERS roll call or detention list.

  31. Captain….those who get “blacklisted” by BUSHMATER can never get a work pon ship again……no even as deckhand.

  32. Sirach said
    The information keeps David Smith honest. It is an invitation to keep politicians, lawyers, bavckers and all the rest honest to. Pray for them Red P…they have a tendancy to be dishonest and only scamper back to honestly when they see that the rod of correction is Real as real can be.
    NO SIRACH NO NO. I have seen the names of tellers on your list . These were people on J$2m per year just trying to pull themselves out of a hole like nuff of us. Everybody knows that these people were putting money in OLINT undercover because they did not want to loose their jobs. These people are like us they do NOT have our money SO WHY ARE WE TRYING TO DESTROY THEM BECAUSE WE ARE SAD AND MAD. come on Sirach painting the whole ja with a poison brush is NOT RIGHT. which politician banker or Lawyer told you to put your money in OLINT.
    STOP DESTROYING OTHER PEOPLE YOU DO NOT EVEN KNOW BECAUSE YOU ARE HURTING

  33. well said L&L
    that is precisely the selfishness thta i hit out against on th eblog some time ago.

  34. Let them take it up with David Smith.

    Also….you sure they are all like us? Maybe you need to see more….

  35. David Smith protected no one’s record…..not even his own trading record. FYI He is not a great trader……yet his followers can’t believe the mastery we have over him and his endeavours……..whosoever has done nothing wrong shall have nothing to fear.

    The PM has laeled all Olint investors as fools…..and out some fools to run the country then. He himself admitted it.

    You can not always have your cake and eat it.

  36. So many of you werequick to call names right here on this blog……not as smart as you thought ehhh……Do unto others as they would do unto you…..oh…but no you think is a one way street……..many laughed including smith himself…..hahhahaa…..”I trade hundreds of millions of dollars!….”

    Yeah…..but you stupid.

    He who laughs last Smithy is he who name Sirach. Dig it.

  37. He ran his mouth and said to most of you that it is me who stops you from getting paid…..and you all bought it….so if you are now uncomfortable Sirach tells you that is David Smith brings it on you.

    Should not be any bawling for it is early days still…

  38. Smithy can solve your problems……he knows how to reach me.

  39. Smithy say him can drag case for 5 years….and I told you all he better put down 15. If I ever tell Smithy to keep what is mine and use it for toilet paper in prison unno bottom lip would touch the ground.

    Let the king of arrogance think……he knows how to reach me….

    As you know Smithy…..no badwords allowed. I have a lifebouy soap ready.

  40. all courtesy the “madman” Smithy hahahahaaahahahaahahhahahahaaaa

  41. LiveandLetlive

    People on two million per year?…….the figures don’t seem to represent such “humble” earnings at all…….Up to this point it has been Smithy’s request for me to show you.

  42. In fact…how rude of me….I would like to publicly thank Smithy for enabling me to have them and share with you.

  43. Also he did tell me that the cases were foolishness and that his attorney’s and himself had a good laugh about me. Courtney Barnett said, “You’re going about it the wrong way…..hmmm…it will go to the Privy Concil”

    Yawn……I have a sense of humour too Smithy…..please bring yours back.

    Barnett…..you don’t even see yet how I am going to mgo about it…….hahhahaah…because I don’t even start yet..hahahhahahaaaaaaahah

  44. Mr. Barnett…..recall that when we met and you knew not who i was and before I even spoke a word you made it very clear you were a racist. But you work with Gifford as a hypocrite……I guess you both see only green there.

    I never knew you to stay so Smithy…..that I can say…but perhaps I was wrong.

    After I deal with the matter a hand Smithy i will show you how much I detest racist people.

  45. Liveandletlive

    You asked me if politicians, lawyers etc told me to put money in OLINT….The answer to your question is NO.

    Now My Questions to you.

    Did I tell anyone to put their money in OLINT?

    Did I tell anyone to go behind the back of their employer?

    Anyway live I just looking for something coming out on Sunday.

    The problems you have are with PM and BM and their fight for acendancy and supremacy.

    If they want to stop releasing randomly…..and categorise data into I don’t know…..the financial houses….or law firms or whatever…..you best believe L&LL that I have little to plead with them on peopl’s behalf……I used to have more “clout” or “influence” if you will…….but your lying bredrin and the false trust he and I have caused me to lose credibility with PM and BM long ago.

    I told that fool that “IF” …..”IF”he was telling the truth I could have helped him more than just rip him off like what happens now…..the help was offered for free….in fact not really free because attempting to help cost me.

    The rest involved always ate some fat food while flushing him down the toilet….what can I say. He made his bed.

    He said I am telling the truth but did not want any help. Even then I eased off nuff damn hooligan off a him fenda……..but him would never tell unno dat….no man….

    So when I try reason (for no material benefit to me) with all BM………di man dem seh mi nuffi badda bring it to them again……..So I tell you honest…..If you can think you can reason sense to him go ahead.

  46. Smithy don’t know Earth runnings.

  47. Finally..Observer.

    Lata

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