Olint Feeder club CEO arrested by FBI

The Sunday Herald is reporting that the head  of one of  Olint’s  largest feeder club, Mr Chester Stewart, of Regency Capital Investments has been arrested by the FBI.

Stewart, who worked at a leading investment house, was charged for money laundering and wire fraud. He is said to be a close associate of Olint boss David Smith and several leading local businessmen and politician”.

Link here:

http://www.sunheraldja.com/article/show/2578

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51 Responses

  1. nice, nice , nice a nuff a fe me monies him did tief…..

  2. Good work Jay…..

    • Chester Stewart has stolen a large amount of money from a large number of Americans.
      I do not know how he has escaped Uncle Sam so far.I hope he goes to jail for life with his buddy David Smith.

      • I worked with Chester Stewart for a couple of years and he had convinced myself and my coworkers to invest in his fraudulent scheme. I looked at this son of a bitch as a friend. He really had us fooled If he was in front of me I ‘d punch him so hard his whole family tree would feel it. Shame on him ripping off his co-workers. I hope the FBI screws him the same way he screwed us. If I can not get my money back I hope he spends the rest of his life in prison, oh hell he should spend the rest of his life in jail anyway.

  3. Any news on F1 Investments and payment

  4. All persons who held feeder clubs should be arrested and charge for fraud. Many of us were deceived by our friends. Some of them are still hiding under the radar, like Racqueline and Peter Mair who took TENS OF THOUSAND US from me last year April and fail to even give a coment on my money.

  5. Dean:

    I gather from your post that Racqueline and Peter Mair operated a feeder Club. Could you provide some more specifics? Are they located in the US? If so, what is their location? Did they do so under a company name? What Name? etc.

    • As far as I know they were last located in Jamaica, the company they had was Bezel Holding Ltd, which I gather was formed in Panama.

  6. Dean
    Someone “took” money from you – i guess they held u up or something.

  7. You seem rather defensive, about the money I got taken from me, I would not be surprised that you are one of them who is hiding under the radar after ytaking people hard earn money. If so you all should go to#$@%^&* prision.

    • Dean

      Did you draw any funds from ur club? if so did ur pay taxes?

      The fact that u made a decision (no one “took” the money from u) accepted the risk to invest in a feeder club and u r turning around to curse the club for ur decision tells a lot ….

      Listen to the PM’s speech abt individual responsibility – u may find it enlightening….or u may decide to continue to blame everyone except yourself.

      • I think you are a coward like the few , who deceived their friends with the assurance that their funds was safe while they were taking it and placing it where ever. Just to make a few corrections here my funds was last taken from me in May 08, not April 08. From all indication now, people like you knew what was happening and knew that we were being lead like a lamb to the slaughter. If my principal was not caught up in this thing, I definately would not have any problems. Any case you sound like a man defending these people treacherous actions..are you saying they were right to do what thedid, are you implying that some persons should be living of our hard earn money and we go in the sun set , and say ‘ a life’. You are crazy, yes it tells the type of person that I am , and that is one who wants my hard earn money back, not interest, just my principal. And yes, I will go to any length to get what is mine, it was worked for, and if you are one of those persons , then you should beware, I would sugest you read the blogs, as what it appears is that eventually every one will pay their pound of flesh for their deed committed. If I don’t get my money, I would be satisfy to see them pay by going to prision.

  8. What are regulators doing?

    . In 2005, the CFTC and the Commissioner of Corporations of the State of California sued National Investment Consultants, Inc.,and others in U.S. District Court for the Nothern district of California for engaging in a forex scam involving approximately $2 million in customer funds. In 2006, the court ordered restitution and fines amounting to $3.4 million.

    . Also in 2005, the CFTC and the Texas State Securities Board (TSSB) engaged in a cooperative enforcement effort against Premium Income Corp. (PIC) and its principals. The CFTC and Securities and Exchange Commission (SEC) filed an action in U.S. District Court for the Northern District of Texas and the TSSB filed an administrative action charging PIC and its principals with engaging in an illegal $11 million forex operation. To date, the federal court has found three corporate defendants liable to pay restitution of $12 million and each was assessed a fine of $37 million. The State of Texas also has obtained cease and desist orders along with various criminal indictments and convictions. PIC’s president is currently incarcerated on charges stemming from his forex scam.

    . In 2003, the CFTC and the State of Oregon Department of Consumer and Business Serives sued Orion international Inc., and its principals in U.S. District Court for the District of Oregon for fraudulently soliciting over $40 million to participate in a purported forex fund. Orion, and its president Russell Cline, misappropriated virtually all of the customer funds. In 2006, the Court entered fines and restitution orders against defendants totaling almost $150 million. Cline is currently incarcerated on charges stemming from his forex scam.

  9. What’s up Red P?

    Fraudulent Sales Pitches

    Pool operators often use word of mouth [PR] referrals or emails sent among friends and relatives, members of community organizations, churches, or social groups to convince people that they can make money quickly by investing in their commodity pools.

    One fraudulent pool operator even solicited investments from members of his cancer support group.

    …Be very careful if the pool operator claims special trding expertise, a unique understanding of market trends, or claims to have a record of profitable trading. These claims by unregistered pool operators often turn out to be false.

    …In a Ponzi scheme, little or none of the investors’ money is ever invested in the commodity markets as promised. instead, the operator of this kind of scam steals the money.

    Foreign Exchange (FOREX) AND High-Yield Investment Program (HYIP) Fraud. Commodity Futurs Trading Commission (CFTC) 2008.

    Tip of the day: If you have invested in feeder fund or and individual who placed funds in OLINT on your behalf then the feeder, individual or ‘pig’ must pay you. Any talk from them about waiting on Olint or “the trader” or “our trader” is just a feeble attempt to evade responsibility.

    It is better for a victim to take money from a Major Neil Lewis (or other feeder) now before he is indicted in the United States. The longer you listen to the nonsense coming out of a middleman or ‘pig’ is the less likely you are to retrieving your hard earned money.

  10. It is the Smith’s who must study “individual responsibility” Exams are upon us.

  11. The PM can do some review study as well.

  12. Prosecution day nears: 500 Islanders on alert
    Prosecution day nears: 500 Islanders on alert

  13. Floridian

    You think major has the money to give us now?????

  14. Yes

  15. yes now dat dem a get scoop up – the latest bubble float to keep people from pressing forward (and mekking SURE seh dem feeder club president et al have a chance to avoid jail house..) is – we’ll be getting back .85 on the $1.

    *1 eyebrow raised*

    REEEEEALLLY? if a so mi have bridge inna brooklyn fi sell yuh.

  16. Floridian is right. All feeder club operators should go to jail. Neil Lewis will be indicted by the IRS soon. His 30 million dollar US estate will soon be liquidated for restitution of Lewfam victims.

  17. Lewis took all of us lewfam investors for idiots.When the US Marshall handcufs Lewis I hope he remembers all the money he took !

  18. The us grand Jury will clean up all of this bangarang.
    It is a pity that our DPP was prevented from doing it.

  19. Great news floridian

  20. Not really L&LL because he and his family are living off it and hiding it away for themselves. Typical criminal behaviour.

  21. the BBC panorama program on Stanford is a blueprint of David Smith and OLINT.

    Buying Out Governments
    Buying Out Media
    Girls
    Image/PR
    Sponsorship of sports
    Cricket
    Private Planes/attempts to escape
    Documented meetings with Government Ministers
    Strange ‘investors’
    FBI/DEA/DOJ/IRS
    LITERALLY NO PAYMENTS but loads of CHAT

    It’s airing now on the BBC Tv and on the Web.

    Unlikely to be available in Jamaica… for obvious reasons (see above) slavery is alive and well.

  22. And of course…THE RELIGIOUS ELEMENT. Always used by “Gods” army of thieves.

    Any comment Red P?

  23. At least Lester Bird confessed. Unlike others.

  24. And…the ‘veneer of Credibilty” issue in the recommendation and granting of National Honours.

    …The Olint BBC special is going to be very educational.

  25. Investforlife can u open a topic about RKR fund operated by Royden Kyle Riettie he has scammed alot of people for big bucks now no info or contact we need to share some info.

    Thanks

  26. Even Girvan been charged (again) now.

  27. Will the Issa people have to return the stolen money they received from Neil Lewis to pay for the palace in Coopers Hill?

  28. Lewfam has used the church to hoodwink investors,isnt that
    fraud?Lewis and David Smith are co-conspirators.

  29. I think Church on the Rock should issue a statement about
    lewfam and Olint.

  30. 🙂 floridian, if there are those in the church who are guilty of theft they too must face the consequences. That does not mean to say that we can’t forgive though.
    I wonder why you always hail mi before yuh talk bout church tief!! I hope yuh not prophesying bout me. haha

    Peace

  31. According to today’s Observer, a group of so-called ‘prophets’ and ‘apostles’ from the us are coming here to prophecy God’s latest word to Jamaica, as well as to perform healings.

    So what? God don’t speak to anyone in Jamaica?

    Have the local so-called prophets been so discredited that we have to import them?

    What a bunch of con artists. No doubt they will be charging and taing up offerings for their efforts. The government should ensure that they do not leave here with 0ne cent more than they came with.

  32. Good one RedP!!!

    Maybe there is a direct link between (some) Churches and Thieves?

  33. Any news as to what is happening with Olint now?

  34. Hey

    At the end of the day, we all want our money back thats whats important.

    Floridian,

    Do u think we will b getting back our money? If yes how much? How much do u think DS has left?

  35. If you want something your nose hafi run

  36. explain floridian

  37. In fact, in the nearly 10,000 words of Minister Nelson’s presentation, the word ‘corruption’ does not appear. Not even once.

    http://www.jamaicaobserver.com/columns/html/20090516T210000-0500_151571_OBS_WHAT_FIGHT_.asp

  38. Any chance that the feeder club operators in Jamaica will have their assets liquidated to pay back investors? Or should we consider them victims as well? It appears that some of these feeder club operators seem to believe even today that DS still have some money.
    Does anyone know whether DS has spoken to any of these folks in the past few months? My guy is now telling me that he has been unable to contact DS in months.
    How are people taking all this so quietly? Do these people know something I don’t? My guy has over 50 million US dollars of people’s money tied up with OLINT and he doesn’t seem concerned. How is that possible? Dem no fraid?

    • I am happy for you that your club, responds to you. My club took my money in May, 08, then told in July 08, That I am on my own, infact they have not spoken to me since they took my money last May. I am sure that some of these people wants it to continue as is untill it dies a natural death. I am even convince that some of them did not have all the money with DS. My club, told me that my money was not with DS, intially, then later they are saying it was with DS. It is eveident that I was robbed along with a lot of other people.
      The alleged persons aligned with the government according to the documents I saw on the net, were very involved and would have gotten their money out hence the reason for their none caring attitude. But when they leave office and the other party comes in I am certain they will use this as political milage and create inquires as the current one is doing with the finscac saga. Untill a message is sent with the tenacity as the one in Columbia, nothing will be done because.

  39. There are so many persons here who seem to be “hoping” that some how things will turn around for them.
    I think their hope is misguided, as I cannot see how a guy who stole millions of US$, lived high of the “hog” , even cares about those who have lost heavily.

    Its obvious to me that the longer the wait the more difficult it is to pinpoint where the assets really are, and lower the probability of anyone getting back a dime.

    Again, I am amazed as to how those who have appeared to have lost so much are simply “hoping” that they will someday get paid, without taking any meaningful action to ensure that they do in fact get back something.

    Its really amazing !!

  40. Jay, I share your sentiments. But it is not impossible to do both. One can hope while taking action. I am doing both.
    I do, however, have reason to believe in the possibility of getting (at least some of) my money back. I care not to dosclose the reason here.
    It is true that the longer the wait…….however, at this point, Olint should not be moving any of the money except that he has real intent to steal it and run. I don’t know how much money is there but I know that some is there….and not the ten million that is being mentioned.
    The TCI police is like any other police force in the Caribbean ie, not very sophisticated. They have access to help from scotland yard and I suggest they use it.
    The one thing that bothers me is that the DS will have to say where the money is or get convicted for theft. When he does that, the US IRS will want first pickings because of the US investors who chose not to pay taxes on their returns. Getting the FBI involved in this was not a good reason because of this. But speak to TCI FCU and they will direct you to talk to the FBI, the IRS ,the JA police…they are trying to get other jurisdictions involved in this so as to create the appearance that there is widespread wrong-doing.
    On the other side of the coin, if DS was really running a ponzi, there will be only a smaller amount of money there (in the bank..those who know, know).
    Truth: DS had no money on OANDA.
    Truth: There was OLINT money on OANDA.
    How is that possible? If you figure that out, you will answer the question “where is the money?”
    I started this blog with questions. Now I am beginning to get answers. It is costing a little bit and I hope I am not throwing good money after bad. But for what it is worth, I will continue to share my findings.

  41. tafari that is why we need the American intervention. They bring resources and experience to solve these problems.They also are shielded from the political coverup and media bias which we have in Jamaica.

  42. One important lesson that I hope we all learn is this debacle is that, regulation for the most part is meant to provide protection to the investors.

    It therefore stands to reason that, those who voice objection to their entity being regulated are most likely not in favour of investor protection and really may be up to no good.

  43. Jay I agree wholeheartedly. Badman, the idea of American intervention is scary, here’s why:
    Many of the persons who invested from within the US, ie US residents and citizens, neglected to pay taxes on the returns they received. Now, if, say, just enough is recovered to pay investors, the IRS will take their share off the top with no regard for small investors.

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