OLINT to be wound up

The  TCI Weekly News is reporting that OLINT TCI is to be wound up beginning Tuesday June 2, 2009.

David Smith home and offices were raid in July 2008 and assets frozen by the TCI Law enforcement.  Later that month, OLINT and David Smith’s accounts in the USA were frozen. In February  2009 he was charged by the TCI authorities for fraud and other theft related offences

The TCI weekly quotes, Justice Richard Williams as revealing that the Supreme Court in TCI had personally received “streams of correspondence” from anxious local investors.

“I feel terrible for them, it’s sad for all the people.” – Justice Richard Williams

The question then, is there enough money. According to the TCI weekly, Justice Williams is reported as saying the following:

“The amounts that the AG disclosed to me, there are not the amounts in that account to meet the amounts the creditors say they are owed.” … 

Appointment of Liquidator opposed

However, it is understood that OLINT through its directors David and Tracy Smith are apposing the appointment of a liquidator. In the Cash Plus case Carlos Hill seem originally alright with the receiver but later fought to have the receiver removed. Subsequently a liquidator was appointed in the Cash Plus case. It should be noted There is already a wind-up order in place for TCI FX trader, a TCI based company.

In general, since January 2008, investors in OLINT has not been paid interest and have been unable to have their principal repaid.

There are currently a number of lawsuits against OLINT in the TCI and in the USA. It is interesting what will become of those lawsuits now that the liquidator has been appointed, given the lessons learnt from Cash Plus and other failed PONZIs.

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452 Responses

  1. Well, well the end has certainly come for Olint, may be a tad too late as much have been hidden

  2. Florida governor hails contribution of Caribbean businesses

    Published on Monday, June 1, 2009

    ORLANDO, USA — Florida Governor Charlie Crist has hailed the contribution of Caribbean owned businesses to the economy of the Sunshine State. He has also praised the vital role Caribbean Americans play in the historical and cultural heritage of Florida.

    http://www.caribbeannetnews.com/news-16816–14-14–.html

  3. Jay, so you are with me? Where did he hide it? Why are they opposed to the appointment of a liquidator?

    What do you think they are up to? There has to be a trail from the bank to wherever they hid it…..we have to find wvery penny….

    Comeon people, anyone who has any info need to contact the liquidators and give the info….

    I am excited….

  4. Tafari,

    Take a closer look at the NFA report which came along with the fine that was imposed on I-Trade Fx.

    It provides some clues as to how the money was being moved around.

    The AG has already warned that not much is lying around, and as was written in ” How Olint stole your money and how DS plan to get away with it”, its fairly well hidden.

    So how do you squeeze DS /TS to get back the money.

    1. Make the charges carry a sentence say of 20yrs in prison. (I have no idea what the max sentence in TCI is).

    2. Hang both a carrot, they provide a list of who helped them rip off so many people, and how much they were given and how the money was moved, and to where.

    3. He provide the accounts and location around the world where he hid the loot and how much was hidden.

    4. In exchange for the above no trail will take place, he just pleads guilty and take a reduce sentence of say 3 -4 yrs in prison.

    If DS believes he will spend the rest of his life in prison there is no incentive for him to keep the money hidden as by the time he gets out, he will be an old man.

    Thats how its done Tafari.

    • Jay,

      Good Luck with that.

      Again, probably just me being Jaded, but I’m pretty sure, Smith(s), Lewis, Loiten, Strachan etc will continue to live lavish lives long after most of the people who have FUNDED these lives have abandoned hope and are gone back to their ‘normal’ lives.

      Tis just the way of our weak/corrupt justice system.

      the rich BUY justice, the poor are ruled by it.

  5. Jay, after all, we are of like minds……I am with you.

    On Tuesday I will try to find out what the max is he is facing.

  6. Word just in thet there is a sum of money at Hallmark, not in the name of DS or Olint……Mr. Liquidator, lets also look in Belize, Tortola, BVI (a lot there)….We have to sell the house, recoup the money given to the JLP….Jamaicans get on the ball…Any lawyers here? Can we force the politicians to give back our money?

  7. Does anyone know the name of the Belize bank headed by Dr Cem Kinay? He is said to have had contact with David Smith and is holding a large sum of money belonging to OLINT. The former premier also has money in that bank…Got some papers faxed to me a moment ago that seem to point to Kinay……I have the name of the bank…disregard folks…

  8. Two other issues:

    1. Those that profited must pay:

    Also like Nocotec, Jay and others have said before, those who got back more than the principal they invested should be asked to pay back. This happening even in the Madoff Case.

    So those of you who profited, get ready and look out for those letters that should come your way.

    2. Feeder Clubs should be liquidated

    Investors should now push to have courts in their local jurisdiction or the jusrisdictions in which Feeder clubs operated, put the feeder clubs in liquidation.

    The feeder clubs are unable to pay as many claim to have placed all their funds with OLINT TCI. Since OLINT TCI is going into liquidation the feeder clubs should be placed in liquidation. The operators of the feeder clubs should not be allowed to get away either. ( Pull out those contracts, communications and memos)

    All the clubs that invested Via TCI FX should also be placed in liquidation.

    BTW. the cool oasis might need extra water to out the fire coming

    Investforlife will look at these two issues

  9. John Doe Liqudate Feeder clubs……………

    yes that sounds Great I can see David trembling when he sees his friends under some pressure.

    But how do you liquidate people with no assets????

  10. Smith has no friends. He has handlelers.

    The money in TCI goes down by $US 1000.00 per week so it has a finite life under a freeze order.

    Live and let live some big public officials have feeder clubs why do you pressure them so?

  11. @live&letlive. Does not matter what little they have. Whatever they have, personal or business, investors must go after it.

    Some Jamaicans are too embarrassed to admit they have been conned. Some even diversified into many feeder clubs.

    Press for Liquidation and file lawsuits against the principals of these feeder clubs.

  12. JohnDoe: Embarrassed for what!, this is money here it happends to the best of us; even the smart with MBA ‘s and CPA’S got swindled. They are even a few AUCTURY’S that got caught up in this mess. So the little people that got swindled also should not feel any less insulted. I am just happy at least something is being done at this point. The pressure of this going on any longer was just too much for allot of clients to deal with. I know there is being allot said about David hiding funds, that is just another part to a long history of Greedy and selfish Account Managers. We will never really know where all the money is, but i hope most is found.
    Do you think Mr . Smith has pull most out of the bank and has the cash in Boxes, vaults and safe houses hidden all over. There was mention at one point on this blog that his wife bought land to build here Housing complexe’s what has become of that? it could be buried deep below in a vault just waiting to be dug up at some point. I think there is probable more cash sitting somewhere not just in banks but in backyards and places we would never think.

  13. Read carefully I never said all. I said some. Some are so embarrassed they will not even admit it..

    I agree with you. People should accept that a mistake was made and move on to have the OLINT feeder clubs liquidated and along with their principal’s assets used to repay investors who lost their principal.

    As for buried, dig up the tiles… you never know.

  14. John Doe: Not bashing you in anyway respectfully if i came that way.

    YF

  15. I am told it is TCI FX fund that is to be liquidated and not Olint TCI – the paper will make the correction.

    Floridian,

    I am surprised i found this out before you!!

  16. Floridian

    Unless of course u knew and didn’t say!

  17. You people have all the information. Liquidator? looks like no one is going to see any money.

    http://news.bbc.co.uk/1/hi/uk_politics/8078159.stm

  18. That link might have been meant for another blog. Sorry Jay.

  19. Neil Lewis is the owner of Lewfam .He just bought a huge estate in Stony hill from the Issas. Can the Turks judge liquidate this house? If not, I am going to the FBI with the whole Lewfam story.If David has to go to jail Neil should go to jail also.At least David and Wane aren’t hypocrits. David apologized. I believe he knows that he has sold us out. Neil should sell his house and give the proceeds to the liquidator. Does anybody agree?

  20. All the feeders and all the people and organisations who got money should pay. All ‘gains’ should be returned.

    I don’t get how David, wayne and Tracey Smith are not hypocrites.

    David Smith gets baptised and gets US$1000.00 weekly and moves other monies to whom he unwisely chooses.

    Wayne Smith has homes in other’s names Black BMW M5 and all that.

    David smith used money he stole from OLINT investors to buy Edith smith a home.

    Harbourshark, you would have to explain how you get a difference between Lewfam olint or any other feeder or pig.

    At least those who gave their money to feeders can get it back. They can go to the feeders and the feeders just say here you go. Here’s your money.

  21. The ffeeder clubs and individuals have no more excuse to say the are waiting on David Smith at this time. Most of the feeders approached have paid up promptly when asked.

    But what about the OLINT people?

    Looks like they must move on because it would seem from reading in the past few days that money is very short.

  22. Wantmymoney

    i heard of someone who had money with one of the ‘church type’ feeder groups and some with an individual OLINT member’s account.

    The person tried for months to get back the money and both the feeder club and the feeder individual kept dodging them and when they did speak they spent the whole time talking about David Smith, and Case and this and that neverending.

    Having become tired of such nonsense the person went to a lawyer and for a cost of less than US$500 they got back their thousands of Us dollars in full right away.

    the person was able to buy things like house and car as the market is down and is living well.

    More examples if this are there but when they escape the nightmare they are able to forget about it and have no need to be asking what is going on with the UFO’s.

    They just enjoy closure after that having lost only the small legal fee.

  23. wake up fellows…this hidden money theory need to be debunked….this was clearly a ponzi scheme run by david smith,tracy smith,wayne smith, bovel and joey issa….in a ponzi sheme at least 70% is paid out to investors…please listen to Justice Williams…what money is left will not be enough to pay investors in TCI…. we along with the authorities here and in TCI waited far too long to arrest the fraudster and his partners in crime and seized the assets….even at this late stage we here in jamaica should be moving to seize the house he brought for his mother in worthington, waynes various townhouses located here in ja, florida and atlanta as well as the luxury vehicles…that us$7m in tci will go to the tci investors, that’s represents a return of about 14 cents to the dollar…if we in jamaica fail to seize any of the perpitrators assets mark my words we will not be seeing or touching a cent of our money….so tafari and others wake up…we were conned royally…monies were wired all over the globe not to be hidden but to pay the pipers…please study the cashplus case…there are lessons to be learnt…the public relations arm of this ponzi scheme is enviable and hidden money theories will abound for the next fifty years if the Lord tarries….how we suh fool fool? are going to continue living in deception or are we allow the truth to set us free.

  24. The money is short but not as short as the AG thinks. They should squeeze DS until he says where the rest ofthe money is.
    From what I saw last night, DS has access to more funds than the 10 million.
    With regard to liquidation, those who received more than their principal in encashments should get nothing. The new investors who received no encashments should get their money first.

    It has become obvious that TCI FCU does not geve a damn if people are paid….They have not gone after the money trail….All they did was grab the little cash in TCI and pointed folks to the FBI hoping that the FBI would do the hard work for them. These guys are both stupid and lazy.

    Hopefully DS will start saying where the money is. Hopefully the liquidator will go after ALL assets purchased with Olint funds…but I dare say it seems like it will be an up-hill battle.

  25. Isee fraud was in it with DS so he knows exactly how much money was paid out.

    fraud, there is a long money trail. It appears from what I am looking at that DS has been hiding money, and substantial amounts. I don’t kno what the reason is, but it appears that he was intent on stealing it. A friend of his, though ,seem to think that he was just trying to keep it from the freeze.

    The money trail started in mid 2007 so I think he was hiding the money to steal it. Now, if I could find that information, I am sure that the investigators could too if they were willing to invest the time. But like I said before, the police in the TCI don’t give a damn.

  26. @YourFeedback
    No problem. it is all good, just clarifying.

    @wantmymoney
    My understanding is that the TCI FX wind up order was dealt with already. What they are now seeking is to get a liquidator appointed for OLINT TCI. So both would now be in the hands of liquidators. I might be wrong but that is the understanding.

    See The IMF working document, Ponzi Schemes in the Caribbean dated April 2009, page 21

    “TCI FX Traders was placed in liquidation, with PricewaterhouseCoopers as receiver. OLINT TCI is in the process of being petitioned for liquidation by the Attorney General’s Chambers. ”

    http://www.imf.org/external/pubs/ft/wp/2009/wp0995.pdf

  27. John Doe

    I have heard from good sources that it is the TCIFX that is being liquidated not Olint TCI – the newspaper is about to make an apology – look out for thursday’s paper.

    .

  28. @wantmymoney

    Can your sources confirm or deny that there is any attempt by the AG to have OLINT TCI liquidated?

    Thanks for the update.

  29. I have heard its only TCI FX.

  30. @Tafari
    Adding… Persons who got more than there principal should repay the difference.

    See Floridan’s comment I agree with that:
    “All the feeders and all the people and organisations who got money should pay. All ‘gains’ should be returned.”

    Tafari did you invest via a feeder club? For those who did,
    a) have you gotten your lawyer to write those clubs,
    b) have you taken action against the feeder clubs?
    c) have you sought to have these clubs liquidated?

    Note well another of Floridan’s comment:
    “The person tried for months to get back the money and both the feeder club and the feeder individual kept dodging them… Having become tired of such nonsense the person went to a lawyer and for a cost of less than US$500 they got back their thousands of Us dollars in full right away.”

    For those who are interested, liquidation scenarios were discussed in this article.
    https://investforlife.wordpress.com/2008/05/25/lawsuits-against-cash-plus-are-they-worth-it/

    Jay do you think we should re-vamp and re-run this article?

    @wantmymoney
    ok… checking myself.

    • Johndoe,
      I think we should do just that using some of the new information that has now been made available.

  31. Johndoe, I did invest via a feeder club.

    In a ponzi, new money is used to pay old investors..therefore, I agree with you. The newer investors should be paid first and the older investors should be made to pay back what they received in excess of their principal……
    That would be the fair (but not so practical) way to proceed. The accounting alone will eat up too much of what is left.
    Furthermore it is left to be seen what is going to be done about finding the money he has been hiding. Finding the money in the BVI and Tortola will be key.

  32. How about the money at Hallmark in the name of the various investors? I am told that the names Olint and David Smith do not appear on these accounts…

    Info anyone?

  33. How about the money at Hallmark in the name of the various investors? I am told that the names Olint and David Smith do not appear on these accounts…

    Info anyone?

  34. John Doe, Want, fraud, all.

    The early birds who took the advice got letters from their lawyers sent to feeders of all kinds and avoided losing anything at all.

    Many feeders took money from family and friends and co-workers so the victims (losers) were hesitant to press their demands for restitution.

    In one (of the many) particular case the investor was getting a big ‘No’ and bag of excuse for the umteenth time and the following day sent a legal demand for funds to be returned and got the said funds IN FULL (account balance as at May 31 2009) the following day.

    There is documented evidence that not only did feeders take monthy commissions for themselves and not only was David Smith fully endorsing the actions of feeders but most significant are the documentary evidence that David Smith was directly involved in sending out many faeeders to Solicit funds to Olint and for this percentages of Smith’s own ‘commission’ were shared between himself and each of the solicitors.

    If your feeder can not show you documentary proof that he/she are taking proactive and definate steps to retrieve funds from David and Tracy Smith then in essence you are at the same place you were when you gave the feeders your initial investment.

    There is a name for that creek but I am not going to annoy Jay today.

  35. I agree with Floridian.Let us go to court and seize the Issa property from Lewis.
    Let us seize all of Wayne Smith’s land now,before it is too late.

  36. On Cents on the dollar issue:

    If you think that having assisted David Smith for years to ruin people’s lives you are to get a cushy letter in the mail along the lines of, ” Hi, while you have done nothing but sit down we are here to inform you that hours of work on our part have resulted in us presenting you with a Manager’s Check in the following amount representing your investment in the fraud…with many thanks….”

    You are off the mark.

    If your learned legal contacts sell you that argument you must understand that it does not match the actions of many of Jamaica’s finest legal luminaries who ‘invested’ in OLINT.

    Better to adopt the path of the Oxbridge educated ‘victims’ who quietly go about things ‘in their way’ than the talk of the self proclaimed ‘best and brightest.’ whose track records speak for themselves.

  37. Mi nah have a dime to sue. Is there a lawyer that would work on my case before they get pay. I am a jamaican living in Canada where do I file the law suit.

  38. Liquidator appointed. Price Waterhouse Cooper. David Smith still refuses to cooperate with investigators. Less than 12 Mil US dollars available. Price Waterhouse Cooper fees more than 15 million US dollars to date. No money to pay out as of this date. Anyone with information should come forward now or David Smith gets away with whatever the liquidator can’t find. That amount estimated to be more than 200 mil dollars US hidden in foreigh banks. Now is the time to give up your blind faith in David Smith and come forward with information.

  39. johndoe, the liquidator was appointed to wind-up OLINT.
    Gentlefolk, people don’t set up ponzis to play monopoly with the money but to STEAL it. The money is stolen and hidden somewhere. We need to give the information

    Hallmark bank is only a shell with assets of about two million dollars. There is nothing there.

    So where is the money? There was no run on the fund in late 07 so the money was hidden around that time.

    Help anyone?

  40. @Tafari. Thanks for the update.

    @Wantmymoney. Check your source again…

  41. Helpme, Most of us have no money to sue. The liquidator is a reputable international firm appointed by the court to find and distribute whatever money or assets are found. Some liquidators can be more vigorous than others….but I think that Price Waerhouse Coopers will do a good job.

    I believe they will find a fair way to distribute whatever they find. So if you received more than your original investment, I believe you may ( I actually feel that you SHOLD) get nothing back. Remember, someone else’s money was used to pay you back.

    My humble advise would be to contact the liquidators and talk about your individual circumstanc with them.

    To date, the TCI FCU has only been able to uncover about 11 million US dollars. The liquidator fees exceed than much so it appears that no one gets a penny because the liquidator gets paid first.

    So unless someone uncovers the hundreds of millions of dollars that OLINT owes people, there will be lots of tears…..

    They may be able to sell his house, and his car and his brother’s property and so forth but unless the real money is found, David Smith will do his two years in jail and walk away from this a filthy rich man.

    I am wondering why the feeder club managers are not going crazy trying to recover people’s money. Do they know something that I don’t?

  42. floridian, you noble master, what do you suggest? Will you tell us now where the money is? I am sure that you know something that I don’t.

  43. Agree with u guys, those who received over and above their principal amount should not receive anything in the liquidation.

    Question for you brighter minds, exactly why are the liquidators fees so exorbitant?? That seems like a con in itself, suck up everything that’s left via fees and u sitting pretty and everyone else get what sir duck get. Go figure….

    Peace

  44. As according to the great Mutabaruka- The system, The system, The system is a fraud!!!
    Look like pure conman run the system. 🙂

  45. Tafari
    I know one feeder club chief as an aquaintance, he does not seem purturbed at all. He however is not very forthcoming with info. It would be interesting to have some insight as to what they know. If you take notice, a lot of ppl with huge sums in there seem to be rather calm.
    AND ALL NOW FLORISIRACH NAH TELL WE WHA GWAAN!!

    Joke yah floridian 🙂

    Peace

  46. David Smith was principal to both TCI FX Trader and OLINT right? It is reported that TCI FX has money……

  47. Canada is a good place to start. That was a ggood idea. A woman there has money.

  48. Tafari

    I guess the best thing is to go see Smith and ask him for the money. But caution those who do that are live in living colour and the audio is crystal.

  49. David Smith is still paying Creary. Creary spends a lot on the individual gleaner
    editors. The individual gleaner editors all live above their means.How do they do it ? With Olint-Creary money off course. The PAJ needs to inquire into this.

  50. evidence EDD evidence EDD careful of those libelous statements

  51. @ Tafari wrote : “To date, the TCI FCU has only been able to uncover about 11 million US dollars. The liquidator fees exceed than much so it appears that no one gets a penny because the liquidator gets paid first. ”

    This is what I have been trying to say for sometime now and David Smith knows this.

    The longer the liquidator stays on board trying to find the loot, the greater his fees becomes.
    If the liquidator believes that the chances of finding the loot are so remote, or will take so much time and that he may not be adequately compensated for his efforts, the winding up process will come very quickly.

    So, the liquidator could (I suppose) state in his report to the courts, that he believes that there is $xxx million dollars hidden all over the world, but he has been unable to get his hands on it due to the extent of this fraud.

    I believe that the courts should throw the book at David Smith when he is found guilty of fraud, and give him the maximum sentence possible. (I hope that is not less than 15yrs).

    If he wants a light sentence he should say where the loot is.
    He should never be allowed to enjoy the benifits of his fraudulent activities after leaving prison.

  52. Jay as people’s journalist you are good. The OLINT issue has little to nothing to do with David Smith and Forex.

  53. My money is in Lewfam. Should I file a lawsuit in jamaica or canada where I live.

  54. RedP, same here the guy I know seems pretty unperturbed……

    How many of you out there are in contact with your feeder clubs? What are they telling you?

    My guy seems so calm it is making me nervous. To date he has done nothing to try to recover any money…Like I said before, he must have some information that is not available to the rest of us…

    Or he drank the coolaid……

    Remember that it was coolaid used by Jim Jones in Guyana some years ago?

  55. floridian, why would I care if I am recorded asking a thief to give me back my money? You seem to want to deter people from getting back their money, why is that?

  56. floridian, I remember that when I joined the blog and started suggesting that we find the money, you immediately started attacking me.

    Now you are suggesting that I would be recorded if I go to David Smith and ask for my money…is that a threat? Should I be ashamed that a Jamaican was able the steal from me? Is that a reflection on me or the thief?

  57. I have considered doing just that…go to TCI and confront the bastard…I was not laundering the money…in fact the money was earned working for the US government.

    But I am not sure that he will give up the money…I believe now that he is shameless, and just a thief….a low down thief. He would probably look at me and say nothing like he did when the police in TCI tried to question him.

  58. He said some interesting things at his first interview. how you get that he said nothing.

  59. I was told by TCI FCU that David Smith “did not even answer his name” when they tried to question him. The gentleman went on to say that “that is his right under british law”…..

  60. floridian, how do you know that he said “some interesting things”? Hey there guy, is that your slip a show?

  61. Listen guy. Baccra throne gone down.

  62. Tafari

    floridian, why would I care if I am recorded asking a thief to give me back my money?”

    That would depend on the details of your grovelling. how you approach it.

  63. John Doe, how is it that Creary can promise individuals Gleaner coverage if he is paid a fee? Bribery of journalists is how we got into this Olint problem in the first place.It is a threat to our democracy.The Gleaner used to be a great institution supported by great names Ashenheim,Abrahams, Stokes etc.
    Look what it has descended to.A rag that can be bought and sold by political pimps.

  64. The liquidator is Price Waterhouse. All the Turks money is dead. The only
    money that anybody will get is the money from the United States Attorney in Florida.

  65. John Doe

    Clarification : Its Olint TCI that is being liquidated – the majority of investors however r in Olint Corp.

    Stand by for more info…i was initially confused as well.

  66. June 2, 2009 – TCI Journal Shutdown Again
    Once again the latest internet host for the TCI Journal came under pressure from forces determined to shutdown the site. This time these forces enlisted a foreign government in their efforts.

    This time we were better prepared and are up again within 12 hours.

    We at the Journal view our efforts as a multi-year, multi-decade effort focused upon the right to live as free men and women, and to work for the betterment of our homeland.

    Let us be clear to those who would try to silence us. Give it up! It will never work!

    Respectfully,
    Editors@TCIJournal.com

    http://www.tcijournal.com/index.php?idsub=1344&id=8

  67. John doe where do you get all your info on the liquidation?

  68. What you see in UK is a political system that has recognised that something is wrong, and is working to deal with it.”

    http://www.suntci.com/

    Changing Merron might backfire on the criminals. Who knows? What a gamble. High Stakes.

  69. Perhaps a cabinet reshuffle might see an OLINT victim’s MP get the position.

  70. One undeniable fact is that the reshuffling and ‘newly baptised’ Cabinet are going to be scrambling over themselves to quickly build resumes as anti-corruption czars.

    For the general election is not far. And they are way behind in polls.

    Many have lost money in Britain to the corrupt.

  71. Edd, on June 2nd, 2009 at 8:56 pm Said:

    The liquidator is Price Waterhouse. All the Turks money is dead. The only
    money that anybody will get is the money from the United States Attorney in Florida.
    //////////////////////////////////////////

    Edd, the US Attorney in Florida has some money to give? How much? What is the source of the funds? Fact or elaborate fiction again Edd?

  72. Can someone (olint insider) tell us what David Smith’s plan was in the weeks leading up to the raid? Was he hiding mone? Trying to trade? Moving around funds to different platforms?

    That could help us find money. The TCI FCU can’t find it….I think it will take inside help at this point.

    If you won’t tell, why are you so loyal to him?

    A friend reminded me that a man does not run a ponzi because he is Robin Hood. He runs it to steal money. If I were a gambling man, I would bet my shirt that David Smith did not pay out so much that he only had 10 million left.

    Gentlefolk, the money is somewhere. It may not be the 500 or 800 million we heard of, but this man has money hidden somewhere.

    How about the platforms? The NFA report shows that he had been using the platforms to keep the money liquid. (The TCI FCU guy seemed surprised at that idea – right there in the report…told you these guys are idiots).

    So, when all is said and done, David Smith should not be in Belize drinking Pina Coladas and living high off our money.

    Anyone here in the TCI? What are the penalties for the charges he faces? Hope it is 20 years. I hope he gets the max…..

  73. Edd you seem angry. I am angry and I am sure that many reading this blog are angry well except floridian. He is the investor who didn’t invest). But you HAVE to diferenciate between fact and I-am-angry-so-I-will-say-whatever-seems-right-at-the-moment.

    That is something my wife does. She would never let something as simple as the truth get in the way of winning an argument.

  74. floridian, on June 2nd, 2009 at 5:50 pm Said:

    Jay as people’s journalist you are good. The OLINT issue has little to nothing to do with David Smith and Forex.
    ///////////////////////////////////////
    Little to do with David Smith and Forex? I didn’t get that…..

  75. floridian, I wouldn’t care how I beg, threaten, plead, cry or “grovel”. I am not asking for a hand-out. This is MY money and I have children to feed. So whatever it takes to get my money, I will do that. And I said WHATEVER!

    Get that? So if you or anyone else try to stand in the way (I don’t know why you would want to record and try to embarrass someone trying to recover their hard earned money).

    You know what your motive is…I have my suspicions about you..I took the time to read many of your posts as sirach on the various blogs. And I read what you said and what you didn’t say…….

  76. RedP

    What happening on the # 4 bus? Are there no believers left?

    I remember you saying that you will keep faith until the fat lady sings. How is she sounding to you?

    Do you owe the Leeching one an apology?

  77. Hey Rob,
    Good to have to checking in here to see whats going on. Well the other bus is in a state of camatose at this point in time.

    RedP is a very strong believer , however I think his “faith/belief” as it relates to Olint is grossly misplaced.
    That’s the one problem when religion is used to made decison in the secular world. The two gets intertwined and persons make serious errors of judgement, as they follow their built in belief system.

    By the time they come to the realization that something is wrong its usually too late.

    Now before I get jumped on, I am not saying religion in itself is bad, I am instead saying their has to be a separation based, not only on proven facts, but by looking at what you see, what has happened historically (in the past) and then make a decision based on all those factors.

    If you wait for what appears to be the “ponzi” to actually be called ” a ponzi” you would have already been too late.

    This is what unwittingly RedP may have done on his prayer bus.
    In situation like these you simply cannot sit back and hope and pray that something will happen in your favour.
    In addtion to parying you MUST take action and you will be guided accordingly.

    To say that David has not yet been convicted of a crime (fraud)is really nonsensical, as there is sufficient evidence to suggest people lost money due to a fraudulent scheme.
    Guilty until proven innocent”, maybe, but do not expect a confession from David Smith, as it will not come.
    The last time he tried to be honest his lawyers told him to “shut up” he must have been crazy.

    He was instead told by them( his lawyers) to pay them to say that confession was a fraud. Isn’t that really interesting, considering the payment was made with defrauded Olint investors money.

  78. Someone please help….

    Does anyone know whether the liquidator is appointed to wind up all of David Smith’s business or just Olint TCI?

    Is there really a difference? Does the court have jurisdiction over David Smith’s dealings not licensed in the TCI?

    Please help.

  79. Tafari.

    Taken from the papers.

    “But Islanders who ploughed their life savings into foreign currency exchange firm Olint TCI could be left penniless as there are scant funds to return their investments.”

    The other part of the report said

    “A wind-up order was previously granted on the defendant’s other TCI-based firm, FX Traders.
    TCI FX Traders was licensed by the TCI’s FSC and set up office 12 months ago in Leeward Highway.

    It appears that these are the only firms listed in the TCI under DS ownership and hence it would appear that all is being liquidated.

    http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=1293&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com

  80. Before moving to TCI, David Smith oprerated Olint Corp in Jamaica. Many are wondering if their money could possibly be held somewhere under Olint Corp. If so, the TCI court will not have jurisdiction.

    Any info on that Jay?

  81. Recall his account in Jamaica were closed after the FSC on the case against Olint.
    NCB was a long drawn out on but a/c with RBTT and First Caribbean wereclosed.

    Money must be elsewhere.

  82. Correct
    The first line should read ” after the FSC won the case”.

  83. The liquidator should have an easy job. I mean, didn’t Mr. Smith hire accountants to do proper auditing and find where all the shortfalls were and who got overpaid?

    90% of the Job was already done by Mr. Smith and his team!

  84. Hey Jay and Rob Irie,
    Well what can I say, I cant speak for others on the #4, perhaps like myself and you guys they are waiting for this whole situation to play out and for the truth to be revealed be that what it may. I will maintain that regardless how things look, the fat lady still hasnt sung. Please dont misinterpret this as misplaced faith in David Smith, that is not where my faith lies. keep in mind that faith moves mountains and prayer changes things.
    Jay, my decision to join Olint was not based on religion, faith or spirituality. My decision, like so many others was based on what friends, family and aquaintances who were members had to say at that time about their positive experiences with Olint. Like so many others I saw it as an opportunity to get ahead financially and be able to square away funds for charity, ministry and retirement. At the time that I joined it seemed that the positives far outwheighed the few negatives. I will admit I am not schooled in finance and am very far from being a savvy investor, so you may very rightly say that i was not in a position to analyze/judge Olints offering with any expertize at all, all I went on was hearsay, as most ppl did.
    I will say this much. In a sense I am glad that this has happened (to me anyway for the fallout has been very tragic for many). Even if it means that my funds will be gone(possibly) and even though its difficult to make ends meet.
    You see, for me, when all the crap started to go down and things never looked pretty, it caused me to do a lot of introspection and soul searching and it got me to thinking and looking at this whole thing from a spiritual perspective.
    Was it possible that God allowed this to happen, especially to the many believers involved, as a chastening?? Was there a possibility that we were exalting David Smith as our ultimate provider and not God?? Is it possible that even if we had the best intentions to sow our money from gains back into God’s kingdom that probably greed and materialism started to set in?? Could we as believers have started to worship mammon instead of God?? These are the questions I started to ask myself.
    When I took stock of myself, I would have to say that I was guilty of a few of them and realized also that my walk was not as it should have been. Hence the start of the prayer bus, not just because I felt a need to get back to basics but also I sensed the tragic loss and despair that a lot of folks were going through. You know some of the stories of difficulties that ppl faced.
    So intrinsically, this debacle has renewed not only mine, but other peoples relationship with God. It has brought me to a better understanding and appreciation of WHO God is and I have now put Him in that place in my life that He so rightly deserves. When I look at where my faith walk is now compared to what it was, will the potential loss of my money be worth it?? Unequivocally yes. Do i want my money back? Yes. If i dont get it back would I trade it for what I have now? No. For in the great scheme of things, what shall it profit a man to gain the whole world and lose his soul?
    If it is God’s will that Mr smith return my funds then it shall come to pass. For God is immovable, unchangeable, unshakable, and unstoppable. His will shall be done no matter how long it takes.
    As for Super Dave, was he a man of God? I dont know him but so I was told. Obviously he backslid. Has he come to true repentance? I Couldnt tell you. I will say this. If he really has come to true repentance and has a reverential fear of God, he will move heaven and earth to return peoples money, he will be honour bound to do so as a child of God. Have no fear, whether outright thief, or repentant believer he will face judgment just like everyone else.

    Love and Peace
    RedP

    • Amen brother RedP, I made some similar observations last year.

      Anyway you did not say whether in your newfound humility you thing its worth saying you were wrong to partake in the tearing down of Messers lee Chin, Wynter, Hilton, et al without any evidence of the things you and the other prolinters were accusing them of.

      With the benefit of hindsight and humility, can you at least accept that it was wrong? After the good book does caution about judging.

  85. Maybe I am bored but I just took a”walk” aroung cyberspace popping into the facebook groups, riding the emty #4 bus and so on. Would you eople believe that a recent as April people were still posting sh;t about MLC fighting Supa D?

    Now tell meif these people deserve to keep their money?

    I think I will say a prayer for Dave, Carlos, Max and Ingrid later. I will pray that their legal troubles disappear. I will pray that they have long life. And I will pray that they come up with even more clever investment product to help poor people get rotten rich.

  86. Yes Robin, perhaps I did err and was judgmental. I am man enough to admit when I am wrong. Please forgive me, I am only human and far from perfect.
    What I yearn for the most I would say is that the absolute truth comes out, from top to bottom. The Word does say that what is done in secret shall be shouted from the rooftops. What is done in darkness must come to light. Lets hope that this is the case here.
    Was there a fight from the banks? I have it on very good authority that there was. Is David a lyin tief?? If he is let the truth come out.
    Let truth prevail and let the chips fall where they may. Who fi go a jail go jail, who muss give back money, do so, who muss get money gets it. If it was a con let it be so exposed and all involved from private to government officials exposed as well.
    At this point, I just want the truth. All of it.

    Peace

  87. The Olint Distaster is your fault, my fault, and all the people who were WARNED, saw the signs, knew it was too good to be true, but were blinded by greed, money and the profits that could be gained, or just decided to take the gamble anyway.

  88. who’s arm was bent to cash the checks?

  89. Libelous Statements.

    While I believe the media has been very soft on OLINT ISSUE and the related issues, unless there is documentary evidence specific to a media house or journalist being paid, these libelous statements will have to be deleted…

    We do not have the time or money to be deal with lawsuits and do not wish lawsuits to derail this site. We certainly do not want the host pressured to take down this site over a few unneeded statements.

    The same thing can be said without it being done in a libelous manner.

    We strongly condemn the mainstream media for the lack of interest and provision of information regarding the OLINT matter, we hope that the apparent PR work of many the UFOs are not influencing the reporters, editors or owners of the mainstream media in Jamaica.

    Alas based on the certain e-mails that we have seen our faith in the mainstream media has been deeply troubled.

    Please I ask the users of this site desist from the statements that could be deem libelous and cause us have to deal with lawyers at this time

  90. Because one is warned?… does not absolve anyone.

    Because one saw signs does not absolve criminals.

    Because one ‘knew it was too good to be true’ does not absolve criminals.

    Because one was ‘blinded bty greed’ does not absolve criminals

    Because one took a ‘gamble’ does not absolve criminals.

    Everthing clear on that Cynic?

    • floridian, you and I are on the SAAAMEE page.

      Hope you didn’t misunderstand, I’m not saying Mr. Smith wasn’t wrong, not saying his cronies, handlers, lapdogs etc, weren’t wrong too. Just saying that the attitude that some people have that EVERYONE ELSE is to blame is the wrong one.

      At the end of the day, most people, if not ALL knew they were playing with fire.. some people had great fun while playing, but in the end most people got burnt.

      It’s possible to seek justice and the return of what is rightfully ours while taking responsibility for, and learning from the mistakes made in this whole debacle. That’s all I’m saying.

  91. @Robin Irie. I see you are back… Give us a Sage One on the current situation…

    @floridian. you said “John doe where do you get all your info on the liquidation?”

    Interesting question coming from you. 🙂 Ask and ye shall receive, seek and he shall find, knock and it shall be open unto. The sources are found in the news articles among others.

  92. invest for life when some people get ‘libeled’ you don’t take it off. When others do you take it off.

    One lesson of Olint should have been that if your email can’t stand the scrutiny of the public then don’t write it.

    I think that goes for all.

    In the middle of a libel case some plaintiff lawyers and their clients would be smart to take a run through (Reflection) of many years of their past emails.

  93. @floridian.
    Email, those libelous comments that have been missed to hyipmyths@yahoo.com. We will act.

  94. John Doe,

    Thanks but its o.k they have been dealt with already.

  95. One of the main offences which is prescribed is that a public servant commits an act of corruption if, in the performance of his public function, he does any act or omits to do any act, for the purpose of obtaining any illicit benefit for himself or for any other person.

    Another defined offence under the act which may come as a surprise to many is that where there is a significant increase in the assets of a public servant which cannot be reasonably explained, the significant increase shall be deemed to be an illicit enrichment and that public servant shall be deemed to have committed an act of corruption. And, of course, as we all know, a public servant commits an act of corruption if he solicits or accepts any illicit money or other benefit for himself or for another person, for doing any act or omitting to do any act in the performance of his public functions,Christie continued.

    Corruption will almost invariably thrive in any or all of the following circumstances:
    where institutional checks and balances on power are missing and good governance and regulatory structures exist on paper only or do not exist, where governmental decision-making remains obscure and the rule of law is not fully enforced or respected; when politicians and public servants are not accountable for their actions; when civil society is thin on the ground; where the media is not independent and there are no independent anti-corruption institutions; where anti-corruption institutions are inadequately resourced, are ineffective, are capable of being influenced or controlled by the political directorate, or are led by men and women who fail to understand what is the true import of their mandate; when citizens become indifferent, lose courage, become fearful or fail to speak out, despite the clear evils which they see.

    http://www.jamaicaobserver.com/columns/html/20090601T210000-0500_152652_OBS_ANTI_CORRUPTION_CZAR_HITS_OUT.asp

  96. The Gleaner is a publicly traded corporation in Jamaica. The Gleaner is a major member of the written media. Documents in the Olint Scandal prove that individuals were paying journalists at the Gleaner.The Gleaner has a board and the board has a Chairman.Why can’t I comment about the Gleaner’s role in the Olint scandal? Is it because the Gleaner’s chairman is white? How can the truth be defamatory? Jamaica is one of the most corrupt countries on earth!

  97. The dishonesty of Gleaner reporters cannot be overlooked if one is examining the Olint disaster evenhandedly.If rich people wielding libel writs can silence the truth on this internet blog,such silence will only be temporary. Any investigation of Olint must explore the role of Creary as Olint’s PR agent and the sums paid by Creary to Jamaican journalists.If not why have an investigative blog?

  98. If you define the Chairman of the Gleaner as white then you might know the sublties of how Jamaica works.

    If you don’t know how Jamaica works then you might find it hard to understand how this blog works.

    If you want to sue for libel then you must be prepared to have your time in the dock.

  99. With the middle-income earner again being put under severe pressure, it won’t be long before another set of sharks like those from the foreign exchange trading era show up ready to devour the unsuspecting. As it was with the Middle Passage so it is with the middle class. It is the sharks that benefit

    http://www.jamaicaobserver.com/columns/html/20090602T190000-0500_152722_OBS_THE_DISAPPEARING_MIDDLE_CLASS.asp

    Henly Morgan has obviously not considered or does not want to write the facts that the ‘victims’ include many in the private jet set, doctors, lawyers, engineers, and also those with the real big money higher up the totem pole.

  100. Well the latest is that this is all with Olint TCI and the majority of us are with Olint Corp…

    Hearing some very positive things…hope they r true…i want my money!

  101. Wantmymoney, according to you there are positive things? Really?

    “Hearing some very positive things…hope they r true…i want my money!’

    Well, I I am the eternal optimist, hoping that there is something positive somewhere..BUt in recent days, I had a private investigator’s report put on my desk and I see nothing positive. I am still going through documents, but like I said, I am seeing nothing positive.

    So you should share the good news before I pull out the rest of my hair………………

  102. Wantmymoney does your statement say OLINT TCI on the header?

  103. @EDD & Labourite
    1. The documents suggests, where is the proof journalists where paid? The proof may come later. A man saying he controls the media is one thing, as “mouth mek to sey anything”, is clearly different from a man who says nothing and actually does.

    2. I am also a bit puzzled as why one entity is being picked on more than the others, the other main newspaper appears largely ignored in these comments by Edd and labourite. Which newspaper named a UFO head, Caribbean Business Person of the Year 2006? Which newspaper journalist always seemed to have inside information on particularly Olint?

    3. Talk about being even-handed, look carefully and see which newspaper published more articles in defense of OLINT.

    Interestingly the only news source in Jamaica to mention Olint being would up was? I will give you a hint. http://go-jamaica.com/news/read_article.php?id=9542

    4. Let’s leave the race out of this and deal with the facts

  104. Attention to details.

    1. An individual journalist allegedly being paid is different from saying the entity was paid off, big difference.

    2. Convincing a journalist that a CLUB was legitimate is different from saying the news entity conspired with the Club

    3. Let us leave the specific allegations out of it until we have specific proof. Note I am not going to suggest that it does not appear that there was an apparent deliberate attempt to manipulate of the media, that is evident.
    If you read back other post as far back as last year, you will see where we criticized the main newspapers in Jamaica on the quality or lack thereof in their reporting.

    You can have an investigative blog but there is absolutely no need to smear specific entities without specific facts.

    Write a letter to the editor of both papers and let them know how you feel. The links are provided

    http://jamaica-gleaner.com/gleaner/feedback.html
    http://jamaicaobserver.com/feedback/

    I only plead that we be responsible with our allegations and avoid coming here one day and seeing the blog is not present.

    So comment on any entity’s role but be care with the allegations.

  105. Congrats to John Doe,

    I have noted that despite your position on DS & Olint you have been fairly balanced and unemtional in your comments….sticking mainly to the facts.

    Well done.

  106. Tafari,

    Well i try to get all news both positive and negative to keep a balanced view as much as possible…

    Its amazing that just as things seem so final on the blog – i have been getting info pointing to the complete opposite conclusion…

    Things r wrking out more than it appears in Turks…there is more money than is being discussed here…

    hopefully these sources r correct…

  107. The Observer is not a serious newspaper.BS has made it clear that the Observer
    is his personal paper. It is not a responsible institution. The Gleaner is supposed to be Jamaica’s newspaper supported historically and currently by the public
    purse.Are we going to allow it to be infected by these inexperienced and
    evil “public relations” bandits. I refuse to be silenced by Creary and his lawyers,that thrassonical thug!

  108. Edd,

    As JohnDoe has said, we would like to keep this blog up and running, while continuing to provide relevant information on the UFO’s as that information becomes available.

    What we do not want however is to become the target of unwarranted attacks from those persons, who would lke a reason to shut us down.

    We are not into the censorship business, but as posters we can all find creative way to start our point without calling out names.

    The gleaner for example in its “Whats happening on the cocktail circuit” has found a way to provide very information which they cannot write in the mainstream section of the paper.

    By reading between the lines however we can all figuire out(for the most part), to whom or what institution they are referring to.

    I know you are angry, but lets not give those with huge capital resource a reason to try and shut us up.

    Thanks.

  109. John Doe , I respect you greatly. How could you comment that race is to be left out of the discussion.Have you read Nettleford’s MIrror Mirror? Clarke is chairman of the Gleaner because of his plantocratic background.He owns huge
    parts of Westmoreland.It is reasonable to presume that his race played a role
    in his attainment of the position as Gleaner Chairman.If the Gleaner’s journalists were bribed to promote Olint then the Chairman of the board of the newspaper, if he is not personally involved, has a responsibility to interfere and put down this practice.Photographs link Creary directly to Clarke.

  110. Where justice is denied, where poverty is enforced, where ignorance prevails, and where any one class is made to feel that society is an organized conspiracy to oppress, rob and degrade them, neither persons nor property will be safe.

    (Speech on the twenty-fourth anniversary of Emancipation in the District of Columbia,) Washington, D.C. (April 1886)

    http://www.tcijournal.com/index.php?idsub=1354&id=8

  111. @Edd: There will be no sacrifice of truth. Where there is clear evidence backed with specific proof express it explicitly otherwise let us be responsible.

    Read Jay’s comment

    @badman: Points taken. You have raised the matter in excellent way

    “If the … journalists were bribed to promote Olint then the Chairman of the board of the newspaper, … has a responsibility to interfere and put down this practice.”

    However just a concern. How does this photo with Media Chairman and the PR man equal proof of a possible conspiracy?

    If you saw a picture with SB and DS or CW and DS does that mean they were conspiring?

  112. There are TCI, US Federal and British indictments, arrest warrants, search warrants and civil actions to seize assets to get in rows and rows of fast moving and dangerous ducks. And here we sit with an Attorney General who is looking over his shoulder to see if his own name crops up on the wrong line of the paperwork. There is much to coordinate, besides our finances, daily government ministrations and social/medical issues to get a grip on.

    http://www.tcijournal.com/index.php?idsub=1350&id=8

  113. The Boyz on the proverbial hot seat are all playing every card they have in their decks legally and through any power channel they have. Someone shut the Journal down by the use of influence on a foreign government for God’s sake!

    http://www.tcijournal.com/index.php?idsub=1350&id=8

  114. Badman:

    JohnDoe is on your side so you should fully appreciate what he and Jay are saying. Bottom line is given the “culture” in Jamaica where the few with money are quick to silence those that threaten their long held positions and “systems” that perpetrate their existence for so long, blogs of the likes of investforlife viewed as a threat!

    Now, this blog was initially created to primarily focus on UFOs, but as you can clearly see, these clubs have exposed a much wider systemic problem in Jamaican and probably in the wider Caribbean region. Until I saw those emails relating to A Journalist giving a PR person his “drafts” of his columns for editing, I would not have fully appreciated the extend that such things were happening in Jamaica (PAYOLA Journalism).

    So read the comments of Jay and JohnDoe again and try to be more creative in what you and others say, without blatantly calling names or reckless with your accusations. You will not find any evidence that Journalist (or even Judges) were being paid or influenced the outcome of certain matters. The revelations on this and the other blog will have people questioning whether to use email communication systems beyond basic social contacts. There is obviously clear linkages between Politicians, Journalists, the Judiciary and the business class in Jamaica and these UFO blogs have shine the exposed the degree to which the “links” determine favorable “outcomes”. The point here is that it only takes one moronic action to shut the blog down and then we will be without a medium to continue to the expose. I’m sure there is more dirty little secrets that are out there and we just need to keep our eye on the ball and keep our focus on the main “perpetrators”……the ones that always seem to come out on top despite their evil ways or leave for South Florida or Atlanta when it becomes convenient. Do you wonder why they all have houses in these two particular areas, sitting unoccupied for the better part of the year?

    BTW, the Gleaner has an active blog now (although moderated) and you should use it to express your views pertaining to the paper or journalism in general.

  115. Well said Mike,

    It is interesting that you mention the blog of a certain newspaper.
    I tried posting in and it takes the better part of two days to have your comments posted.

    Dont even try to post biting comments even if no names or institutions are called, at least mine have not got posted.

  116. Mike D

    “BTW, the Gleaner has an active blog now (although moderated) and you should use it to express your views pertaining to the paper or journalism in general.”

    PR plug for an inferior blog? hahaha.

    Better you suggest they ‘try’ to hire a blog expert like Adrianna Huffington. Just like how a particular jamaican bank was out of the gates to hire David Smith to ‘trade’ for them.

  117. Les Green on lotto scam and JOLT

    US$30 Million a year scam. Shocking! 30 Million in one year. Wow!.

    Siezed Assets repatriated to Jamaican Government.

    400 murders.

    Video Evidence to be applied.

    Full priority from Green and the Government being place on this 30 Million dollar scam.

    Full co operation of Jamaican Government and Worldwide Law Enforcement agencies particularly in the US.

    ‘LOOKING” at Extradition cases in the system. Overseas Victims are Greedy, suffer from alzheimers and dementia in many cases.

  118. Green, “Blackberry texts will not be used in the lotto scam ‘investigations'”

  119. Come home Oliver Twist! The working journalists want more!

  120. Why did I believe that it was the Editor that had the final say as to what is printed?

  121. I have to say that after checking with my sources,
    Laborite, Edd….. you are all correct.
    I can’t believe Bruce met with Smith. It really was not intended to come out. In fact there was NO Jamaican press coverage.
    This has brought a great shame on our party.
    I know this is a very sore point with Bruce and most of us do not know how to approach the matter.
    However, many of us in the party now believe that the three main players that brought this OLINT shame upon us ( DV, DC, JR) need to go.

    What are your thoughts Laborite? Have you spoken to Bruce on the matter?

  122. It amazing that with all the new developments regarding the Olint case, there is not much being mentioned in any of the two leading newspapers.

    I find that rather curious, I will however refrain from going out on a limb and call names or try to sully the character or certain indivduals, as I have nothing to indicate that they were a part of any cover-up.

    I would suggest if any one has such documents, be it an email, recording or other such material, to email it to : hyipmyths[at]yahoo[dot]com

    Watch the Sunday Herald this weekend, as I am sure that they will be making more than a passing comments on the Olint situation.

    PS. I am speculating with that last sentence. Just wanted to make sure if one or two articles does appear on this subject, it has absolutely nothing to do with us. They may of course chose to lift info from this blog.

  123. Let your angry at the Gleaner be known by submitting feedback here.

    http://jamaica-gleaner.com/gleaner/feedback.html or
    http://gleanerblogs.com

    or contact the Gleaner ext 876 922-3400 and ask for the MD’s office.

    For those of you who claim to have evidence on the Gleaner submit it to the Observer, Radio Jamaica, CVM TV , the Herald and etc

    For those of you who claim to have evidence on the Observer submit it to the Gleaner, Radio Jamaica, CVM TV , the Herald and etc

    Media lockdown or showdown?

  124. @edd Please desist… present the evidence.

    1. Re: the photo. You have to do better than that. If I saw Edd in a PHOTO with a UFO head, is that evidence of a conspiracy?

    2. Re: physical access to the North Street Newsroom. Have you ever visited the Library at the North Street?

    3. On a different note edd or anyone, email us (hyipmyths[at]yahoo.com) the affidavit (Walker vs Smith) or send us the link on that one.

  125. John Doe, Can’t call right now. Credit run out on David Smith answering machine.

  126. Chucks

    Why did I believe that it was the Editor that had the final say as to what is printed?

    If an owner don’t want it printed it does not get printed. Editor? Janitor? Writer? Same thing in the owners mind.

  127. Malekov

    Monks, Fagin, Sikes, Bumble, Claypole and Crackit is more than enough for you to interview.

  128. Interesting that Michael Misick is also a defendant with DS!
    Plaintiff: Christopher Walker
    Defendant: Hallmark Bank & Trust, Ltd., Brian Trowbridge, Mastercard Worldwide, MasterCard International, LLC, David Smith, Wayne Smith, Overseas Locket International Corporation, The Turks & Caicos Island Investment Agency and Michael Misick

  129. Edd ,
    Lets look at some of the know facts regarding Olint (Summary). It’s rather long so I will break it into two parts.

    Part one

    1. DC was being paid as a PR persons for Olint.
    2. Both newspapers at time carried glowing features on Olint.
    3. The FSC published on more than one occasion in both papers, warning about the AIS, which included Olint.
    4. Many in the business sector notably Michael Lee-Chin and Bill Clarke had warning in both newspapers about the AIS, which included Olint.
    5. CashPlus also had its own PR person.
    6. The biggest PR persons for Olint was its investors i.e. mouth of word PR. This is very typical for a Ponzi scheme.
    7. FSC hauled Olint to court, issued a ceased and desist order on Olint. Olint subsequently picked itself up and stormed out of Jamaica to setup office in TCI.
    8. Some investors left, but most chased Olint to TCI.
    9. When Olint “stopped” accepting investors, Feeder clubs were formed to pump more money into Olint that was ever there before the FSC shutdown on them.

    10. Individual investors became “pigs” and had piglets. These persons were calling anyone who the knew had connection to Olint to try and get there money to DS.
    11. NCB to Olint to court, to close their accounts as Olint refused to provide them audited financial statements and NCB was concerned about being “tagged” for money laundering.
    12. Olint threaten persons that they would be expelled from the club and be paid back their funds if they did not sign the “new private membership agreement document”. Some left, but most could not wait to sign and return those documents to Olint.

  130. Part two

    When you look at all the above, and as much as one can cast blame on a certain news paper columnist along with some paid PR person, it is very clear that the Olint disease was not caused by them, however they no doubt gave it legitimacy.

    One should therefore ask the question, why should I have listened to the ” regulator” who has keen knowledge on financial matters Vs listening to some PR guy or a news paper columnist.

    I am not for one minute seeking to minimize their role in this sordid affair, but when you step back and take a good hard look at what unfolded, its really about our own belief system which got in the way.

    It was a leave me alone I know what I am doing which was being said to the regulator, ” you a gee poor people a fight”. While on the other hand it was “big up to the PR man and the columnist, you on wi side”.

    Investors made a choice of who to listen to and who not to listen to.
    Investor made a choice of where to put their funds and where not to put their funds.

    Investor simply cannot their come out now and blame other for not showing them the “light” as while those that they believed really lead them astray, those they chose not to believe was actually showing them the “light”, they simply choose to ignore the truth and accepted the lie.

    It may sound very harsh, but when you strip away the personal feeling, the anger, the guilt and other stuff, you will realize that, the investor dealt himself the hardest blow.

    The investor could have looked the other way but choose not to, as the apparent rewards were too great to ignore.
    The PR guy was being paid $20,000 per month for a lie, while investors were being paid 10% per month for a lie.

    The only difference seems to be the PR guys may have known it was all a lie while the investor did not.

  131. Hey Edd, Present the evidence.. you might well be right and once you have the evidence we will trumpet it the loudest… until then our position remain the same.. facts over emotions…

    Just like how we call for OLINT to present its books and get it audited by a reputable source, present the evidence…

    As it stands there is no hard evidence that any one was paid. Media manipulation, Media silence we can talk about, but back off the paid and bribe until you have the hard evidence.

    Who sold the the Jamaican Public higgins warner(20% p/m) , worldwise(8-14%,) the partner plan scheme(??%), may daisy (20% p/m) … mininvestment, swisscash, etc etc etc… ?

  132. Jay you have the analytical skill of a scholar. The Jamaican public is not sophisticated in investment issues and therefore relies on the fourth estate to
    determine the legitimacy of the investment program. The SEC in the USA divides investors into accredited and unaccredited investors. Unaccredited investors must be told all the risks might be inherent in the proposed investment. Almost all Jamaicans would be unaccredited investors.The Gleaner’s board and its Chairman abused the investors by deliberately hiding the risks.Bribery can be proven by common sense and inference.

  133. Jay as our historian why have you forgotten to mention the 12 million or so invested in the JLP by Olint. Certainly this affected the outcome of the election
    and led to the life expectancy of Olint?

  134. Labourite,

    Based on the available information, it appears that both the PNP and the JLP were the beneficiary of generous “donations” from Olint .

    So both parties would have dirt on their hands in this sordid affair.
    The Olint letter seem however to have implicated more JLP members that the current opposition, but I am not sure how we could say that led to the “life expectancy of Olint”.

  135. If the PNP had won, what do you think the immediate fate of Olint would have been? The JLP won, the rest is history. My party was bought hook,line and
    sinker.

  136. Finally the main stream media is reporting on the liquidation of Olint, and they simply just lifted and reprinted the entire article from the TCI News papers, giving no credits in the process(unless I missed it).

    http://www.jamaicaobserver.com/magazines/Business/html/20090604T230000-0500_152880_OBS_OLINT_TCI_INVESTORS_COULD_BE_LEFT_PENNILESS.asp

  137. Jay part 1 and part 2

    How does all that admonish the Smith’s? That does not stop them owing the money.

    I hope you do become a scholar one day. That is a long and hard road though. But good luck as you embark on your journey.

  138. Jay the Author is credited. Gemma Handy.

    • I actually expected them to write, reprinted from the TCI Weekly news etc.

      You know Gemma is from TCI because you had access to that newspaper article before.
      The average person reading the news would assume Gemma Handy is a Observer writer.

  139. More impressive journalism would have included the liquidator being asked if the Smith’s were still to recieve US$1000.00 per week as they have been getting.

  140. Point taken Jay.

  141. Jay

    Call them cut and paste then I suppose.

  142. Florida.
    In relation to the question being asked of the liquidator, may I ask.

    Are the Smith’s being paid US$1000 per wk?
    If they are were is the source of funds, since their accounts were frozen?

    I hope its not “investors” money that is being used to pay them(If in fact they are being paid).

  143. Unfortunately your hope is real. the money comes from the ‘frozen’ assets.

  144. Are there any evidence of the following allegations:

    1. DS is getting $1000/week.
    2. PM met with DS.
    3. DS paid Gleaner.
    4. There is more money available than the US $10 mil?

    Any such evidence would be useful to me (and others I am sure) for a legal motion I am about to file. BUt it appears that this information is only available here. I couldn’t verify any of this info anywhere else.

  145. Jay , you are absolutely right… TCI Weekly News should have been credited. Just looking on it appears as if Gemma is from the Observer.

    On another note
    Journalists warned not to sacrifice standards
    http://www.jamaica-gleaner.com/gleaner/20090605/news/news4.html

  146. but the most notable comparison with here is that the UK journalists are getting results – resignations and repayments and changes to rules to avoid ambiguity.

    http://www.tcijournal.com/index.php?idsub=1358&id=8

  147. Wantmymoney, I can’t imagine what your sources are. I have had conversations with court officials, the TCI FCU, Feeder club managers and an overpaid private investigator and to date, they all confirmed that only 11 mil or so is in hand. Pricewaterhouse Coopers will be my next stop. They were only recently appointed as liquidators but have been working on the case for more than 8 months.

    Your wish is my wish, that DS either comes clean, or they are able to find more money……I hope your source is right…

  148. Here is a question for the legal minds among us……

    Does anyone know whether all OLINT’s operations will be covered by the liquidation? How is OLINT corp tied to OLINT TCI? Are they tied or are they seperate entities registered in two different countries? If so, what happens to the Jamaica investors with a contract with Olint Corp? What will be their entitlement to the OLINT TCI funds?

  149. 1. DS is getting $1000/week.
    2. PM met with DS.
    3. DS paid Gleaner.
    4. There is more money available than the US $10 mil?

  150. Are these verifyable? These allegations seem to be accepted here as gospel but I am searching and can’t find anything. How is that possible?

  151. Well, not so much No. 4….I think that the assertion here has been, for the most part , that all the money is gone……………

  152. Gone where?

  153. Elementary, dear floridian…. from what I’ve read (on the blogs mostly) gone to planes, lavish trips, casinos, polititians, floridian (sirach, the investor that lost nothing), women, fishing trips, bribing the media, sponsoring various activities in jamaica, family members……..

  154. What about what fixed assets?

    Have you ‘lost’ money Tafari? Are you confessing that your money is ‘lost’ or ‘gone’?

    If you are then why bother blogging?

  155. I heard from my reliable sources in the camp that the heat is getting to David.
    He wants Bruce to provide protection for him and to allow him to return to Jamaica.

    In fact so far he can’t find any lawyer in Jamaica to take on his case. Gifford took a good chunk of change from him and after completing his last legal assignment he wants nothing to do with David/OLINT.

    I can confirm what Laborite said. The JLP got US $12 million dollars and the PNP received US $200,000. Big difference eh!!! So yes, my party had the election campaign paid for by David.

    My hope is that we can convince Bruce to get rid of the 3 bad eggs that are bringing down our party and to distance himself from David.

    Bruce must remember some OLINT investors have hired private detectives and we cannot afford to have them come forward with any more damming evidence. This thing is going to the JLP equivalent to Trafiguera if Bruce does not take it seriously.

  156. floridian, I do not understand the question…..And this is not the first time…..you are either really smart and I am really stupid, or the other way around…..

    I have made it clear that I invested money with OLINT and that I want my money back….

    I have made it clear that I am blogging to

    1. Keep the discussion open.
    2. Stimulate the debate and by doing so garnor some useful information that would lead to the recovery of my money.

    I have asked you a number of times what is your purpose. I have read your postings and some seem like the ramblings of an insane man.

    What is your purpose? What motivates you to blog? In one posting you are an investor..in another you laugh haha as David Smith if I lost money……So I take it you took out your money..good for you.

  157. Tafari Francis, on June 5th, 2009 at 7:31 am Said:

    Well, not so much No. 4….I think that the assertion here has been, for the most part , that all the money is gone……………
    ///////////////
    floridian, I wrote that “the assertion here” has been that all the money is gone……

    Can you read?

  158. Am I confessing floridian/sirach/David Smith, whoever you are……..?

    Tafari Francis, on June 5th, 2009 at 7:50 am Said:

    Elementary, dear floridian…. from what I’ve read (on the blogs mostly) gone to planes, lavish trips, casinos, polititians, floridian (sirach, the investor that lost nothing), women, fishing trips, bribing the media, sponsoring various activities in jamaica, family members……..

    Does that sound like a confession? Dude? “from what I’ve read……..

  159. JLP for life, on June 5th, 2009 at 8:27 am Said:

    I heard from my reliable sources in the camp that the heat is getting to David.
    He wants Bruce to provide protection for him and to allow him to return to Jamaica.
    ////////////////

    Is he asking for the entire Jamaican army and police force? Does Jamaica have an airforce? He will need one…what do you think floridian? Or will he be staying at your house?

  160. Is David Smith still free to travel after his arrest?

  161. Tafari

    Don’t stress Duuude!

    He’s always ‘in my house’

  162. I think the Olint case, moreso than any of the AIS has exposed the really dirty underbelly of some elements of the Jamaican society.

    This is beginning to almost read like a thriller movie, and we have not yet seen all the relevant information.

    Serious questions need to be asked about that “very fertile tract in the desert “, as a large and I mean very large sum of money seemed to have gone their.

    The figure that is being report is in the hundreds of millions of dollars (US$XXX M).

  163. Jay

    “…we have not yet seen all the relevant information.”

    I think those with more information will hold it until trial. It becomes much more valuable at that time.

  164. @Labourite,

    Protect him from whom.

    Carlos Hill stole over $22billion and no one has troubled him all this time, which is surprising since it was a lot of working class and “poor people” who invested with Cashplus and are more prone to react violently on even small issue.

    Olint on the other hand are more docile and middle class investors who typically will not react with violence.
    Recall many of them choose not to file suits as they we were “afraid” of it becoming public knowledge that they invested in Olint.

    So my guess is that , no harm will come to David Smith if he choose to return to Jamaica.

  165. Hey Jay, were/are you an OLINT investor?

  166. Check the Olintja website, as that information was posted at here least a week ago in the form of an email.
    It read in part
    ” Another thing I found interesting is that 2 months ago 8 million was transferred to a middle eastern bank account that is not a client. Also as I told you over msn last week the majority of the employees don,t know what is happening in the club. They are under the impression that things are A Ok.”

    http://www.olintja.com/documents/documents.htm

  167. Tafari,
    No, never invested a penny with them !

  168. @Jay:

    Your last statement is the most crucial I have seen since this blog began.

    You are now saying that there are reports that DS sent USD hundreds of millions to the middle east. All this time, for over a year, we have been hearing that the money is gone. People were speculating he hid it from those filing lawsuits so that he could repay the loyalists. Others speculating that he stole it. But none could confirm if there was any money left to steal or hide.

    -Where did you get this very important info? If you can’t name names, please describe the nature of the source so your readers can gauge its veracity for themselves.
    -All the readers of this blog that have been worried that there is no money, all the people that lost homes and cars and childrens college money, couldnt pay hospital bills, etc etc…they have been waiting on information like this for over a year.
    -Are you going to open a separate post with this info? Surely this warrants its own post.

    -Söze

    • Soze:

      I merely pointed reader to a blog that posted that information sometime ago.
      The link was posted at the end of my post.

      I cannot confirm that this did in fact take place however the emails that have been posted on that site tends to be authentic.

      However read my post just before this one.

  169. Tafari read this article, rather insightful.

    Madoff funds long gone, investigator suggests

    http://www.boston.com/business/articles/2009/06/05/madoff_funds_long_gone_investigator_suggests/

    Read and digest this information, as its the same as in the Olint , or very close to that.

    Note carefully the comments about going after “longtime” investors, as thats were most of the money went.

    Check out that “tract in the desert”, a huge amount of money went there, moreso than anywhere else.

  170. @Jay:

    We saw the email on the old uncensored blog months ago, but that is only 8 million. I was referring to the hundreds of millions in your post above.

    -Söze

  171. @ Mr Soze , I was wondering which one of these post you were referring to, ok now I get it.

    I have been giving a number of hints as to where to find those $xxxmillion .

    Look for that “Tract in the desert”.

  172. How much would a tape recording of Smith talking about hidden monies be worth? And to whom?

    Just wondering.

  173. Jay,
    Now you’re speaking in parables like Sirach used to. Just talk straight nuh man, What the heck is the tract in the desert??

    Peace

  174. Wow floridian, I am sure that every Olint investor would pay to see that..

    Open the bidding at one million dollars.

  175. One million what currency?

    Your starting bid is out of order. If it was not for your good spelling I would think you are David Smith.

  176. Starting bid out of order? David Smith? You always leave me wondering what on earth is floridian talking about?

    I would say US dollars……

  177. Lets face it even if their is money it going to be very diffcult to get it porbably will take years in my opinion. One Question i will like to ask how does the issue of fdic isurance work in terms of this situation . Where the funds in the the hallmark trust insured. I know if they was no money in the trust i the first place how could it be insured but always wondered what was the situation from that stand point.

  178. Do you have such a tape recording? I would suggest you give it to the police investigators or the liquidators…but we all know that floridian is full of it. You have no recordings..but it was good thought.

  179. And floridian, I didn’t bid…I suggested that you open the bidding at one million…

  180. You are full of suggestions aren’t you.

  181. I never see you make any suggestions to David Smith.

  182. floridian, you are special……

  183. floridian, so once again I ask, what are you up to?

  184. floridian, on June 1st, 2009 at 10:33 pm Said:

    You people have all the information. Liquidator? looks like no one is going to see any money.

  185. floridian, on June 2nd, 2009 at 8:42 pm Said:

    Tafari

    floridian, why would I care if I am recorded asking a thief to give me back my money?”

    That would depend on the details of your grovelling. how you approach it.

  186. floridian, on June 1st, 2009 at 11:02 pm Said:

    The ffeeder clubs and individuals have no more excuse to say the are waiting on David Smith at this time. Most of the feeders approached have paid up promptly when asked.

    But what about the OLINT people?

    Looks like they must move on because it would seem from reading in the past few days that money is very short.

  187. floridian, sirach, William……Officer……

  188. Has anyone tried calling the liquidators? How about you feeder clubs?

    I would like to conduct a little survey:

    How many of you feeder club guys are going to contact the liquidators, file a lawsuit ect?

    How many of you are going to sit and wait (trusting in David Smith all the way) that he is going to make good and pay you some day?

    • Tafari Francis:

      Why are you so quick to dismiss the fact that an actual recording exist of DS admitting to hiding funds? As you know, it is illegal in most jurisdictions to record someone without their knowledge. So, if someone on this blog has such a recording, they are not going to admit to that fact on a blog, especially if the recording is leaked at a later date (see the arrest incidence of another associated individual and the charges brought against him).

      Since you are “new” to this blog, you might not know this, but responses to your comments made by a certain individual might not be directed at you but to DS directly….tipping your hands (hints) so to speak. Spend more time listening and reading between the lines before rushing to judgment. The same individual made a statement a few post ago and you completely missed the point because you are not aware of its historical significance as far as this blog is concern.

      In your spare time, maybe you should start reading from the beginning of this blog and a lot of things will fall into place. DO NOT TAKE THINGS ON FACE VALUE. A lot of stuff is being said in CODES for “legal” (pending cases) reasons. You tend to argue with individuals that have significantly more pertinent information than you do………despite your engagement of a PI! Stop, think and listen (hear?).

  189. RedP
    An Oasis is ” a fertile tract in the desert”.

    Who bought Shell retail business, there were two parties involved.
    Wanna make a guess where a portion of the money came from.

    • Jay:

      That was expertly done!!! You are now qualified to write the Gleaner gossip column. I must admit I did not get it at first. That is a coooooool oasis in the sun.

    • “COOL” Jay!! haha 🙂

  190. MikeD, I think that floridian gets the purpose of the banter that has been going on…..You do too….but now you have let the cat out of the bag….Damn!

    Haven’t yoou noticed that floridian takes it in stride?

  191. And Mike, nothing is taken on face value…..Nothing. Even silly old me gets that…..

  192. Jay and MikeD, you see Lee Chin having some problems

    Lee Chin misses $14b bond payment – Begs for more time to clear debt – Columbus share sale delayed
    http://www.jamaica-gleaner.com/gleaner/20090605/business/business1.html

  193. Neal and Massy was the other party from TNT.

  194. On the cool tract in the desert things might just get hot…

    You know this 10% per month compounded is madness ….

    leaked files had a line with a company found on main street with position XIX . in the town of ‘eight rivers’ that with a relatively small amount $9,995.00. @10% per month after 18 months Dec 2007/June 2008 that small amount would value $55,571.37!!!! (interest and principal)

    No sah my calculations can’t right?

    Have a successful week-end you all… I will be busy…

  195. MikeD, I am aware of the high probability that DS reads this blog (if I were a gambling man, I would bet he read this last post before you did), I am certain that the TCI FCU is reading this blog, and I don’t know which of these bloggers is working for either of the two…..

    To date, I have revealed no information obtained through the investigator…..Think about that…….

  196. Tafari

    I advise David Smith to pay faster than even he himself dreams he could.

    What is your advice to him Tafari?

  197. Why does TCI Journal have problems staying on yet this site and Olintja.com have none?

  198. floridian, what would you suggest I tell him?

    It would be nice if you could arrange a meeting with him for me. Would you be so kind?

  199. Hey David Smith, you could lend/give the money to Chin to pay his debt. You do this charitable thing and all will be forgiven.

    Then you could go back to Jamaica and you can actually run for political office. I say David Smith for prime minister. Tracey Smith could be Minister of finance…I want Wayne Smith for minister of information…..I would contribute to the campaign of floridian. floridian, we will make you minister of foreign affairs.

  200. From what I hear, that government may actually be less corrupt than the one you have now….There won’t be a David Smith out there to bribe government ministers…..

  201. What a lot of things you want to dictate and wield. We see who you want to be like now.

    For you soul?

  202. Developers fight to block final report
    REALTY bigwigs accused of bullying residents and bribing Ministers into rubber-stamping multi-million dollar developments battled it out in court to escape being named and shamed.

    They claim the long-awaited document – submitted to the Governor on Sunday – could have devastating consequences on their reputation and businesses.

    They are fighting to block sections which may tie them to misdeeds from being released – despite having no current knowledge of the report’s contents.

    http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=1304&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com

  203. David is planning to escape,

  204. Without him all is lost…..

  205. If he is allowed to escape all is lost.

  206. Time for Special Forces.

  207. Oh?

  208. Sirach, on January 10th, 2009 at 2:42 am Said:

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

  209. I will meet him at Palisadoes!

  210. labourite, lets put the very sophisticated, very well-trained, highly high-tech, crack investigators at the TCI FCU on the case. They know how to stop Smithy’s escape…..I’m sure of it.

  211. floridian, how did you propose to help DS? (your words)

  212. Lead him on the path of truth and righteousness.

  213. Tafari, IF TCI FCU allow DS to escape then there will be hell to pay in Westminister.

  214. I will still meet him at Palisadoes!

  215. I believe international law enforcement is the answer ,not violence.I agree with Floridian that DS has caused many deaths thus far.

  216. Scenario:

    The TCI Court has decided to drop all charges against DS in exchange for full disclosure of the whereabouts of all funds and/or a full confession of how he ran his ponzi scheme.

    DS and Tracey accepts the deal and returns to Jamaica (loving christians that they are) and settles in a nice little community just outside of Kingston.

    Two years later, DS runs for political office……

    All is forgotten, he campaigns as a man of God who was trying to save the Jamaican poor….

    He wins…..He is a member of parliament…….or PM even….

    His brother Wayne is named ambassador to the TCI….

  217. I saw a opicture of Carlos Hill outside his home…The picture was reportedly taken while he was about to be evicted recently….

    I wonder how one is able to steal so much money and just go on living among the people he stole from without fear…..

    I guess that is a BEAUTIFUL thing…..

  218. What a wonderful world we live in.

  219. Tafari you have a good sense of humor.I would laugh with you had I not lost my shirt in Olint.

  220. Larry, you have to laugh….I lost my shirt, pants and briefs….But I must laugh….

    Laugh a little with me nah!

  221. Not-so-ne-news….

    A court document reaching me sem to indicate that Pricewaterhouse coopers reported to the court earlier this year that there is evidence that Olint was indeed a ponzi. It appears that there was very little trading going on since Aug 2007. There is a direct link between funds coming in and funds being paid out without these monies making it to a trading platform.

    Now that there is proff that DS was running a ponzi, anyone who was paid any money in excess of their principal investments should be ineligible for any money from the payout.

    The court should order that feeder clubs provide their client account information and pricewaterhouse should then pay these clients directly. The feeder clubs will just keep the pennies they get from the payout unless the court prevents them from putting their hands on the money.

    What you think Jay?

    That begs the question

  222. Whay did DS elect to prolong this saga? Why not come clean? He will be convicted unless he can prove that he lost the money trading. Mr. Belcher, you were his friend, did you not know all along that this was going on? Why preach here now?

  223. Tafari,

    The NFA report on I-Trade Fx had came to the very same conclusion re: very little trading taking place.
    Read postr ” How Olint stole your money and how DS planned to get away with it”.

  224. I have heard a number of people say they want their money, but for a number of “investors” you might be looking to the wrong person for your money. You guys might not know this, but a large portion of the money did not “hit” Olint’s banks or DS! The Feeder Clubs were running their own mini Ponzi schemes during the better part of 2007. Also, you need to look at the individuals who took “huge” withdrawals (including sizeable “bogus” interest payment).

    A number of encashments were not taken from Olint directly, but the Feeder Club management simply used new money coming in to pay older members who were withdrawing their funds. Their thinking is that it would “balance” itself out in the long run, based on their Feeder Club Account Balance with Olint at the time. The problem is the balance, which includes deposited funds and “earned” interest, was made up in large part by phantom profits. By way of example:

    Feed Club LW (Month A) – months when Olint was releasing very few funds.
    Balanced with Olint = $10,000,000 [$2,000,000 (Principal) + $8,000,000 (Accumulated Interest)]
    New Money inflow = $1,000,000.
    Encashments & Management Fees = $1,300,000 ( [$1,000,000 +$300,000 (fees)] mostly derived from new deposits into the Feeder Club)
    Net Payment to Olint = ( negative ) $300K (no money went to Olint for Month A, in fact there was a withdrawal of $300K)
    Feeder Club’s Balanced WITH Olint after Encashments, Mgmt. Fees and new deposits = $9,700,000. Now, part of the balance remaining in their account with Olint is “supposedly” the new money of $1M minus net withdrawals minus Management fees (account balance decreases after account for any bogus interest payment to the account for the month. So the analysis begs the questions. Did the individuals who deposited funds in Month A really invested in Olint? What do you think?

    So, although Feeder Club A took in $1M for Month A, no money went to Olint. This scenario is even more dire in cases where the encashments and Management fee exceeds new inflow in the Club. In such cases these feeder clubs would have to draw down from Olint, giving rise to the rapid withdrawals from early to mid 2007. Now these Feeder Clubs are blaming Olint, when in fact, as far as Olint is concern a feeder club balances might be made up of mostly of “bogus (unearned) interest”.

    So, for a lot of you, maybe you should start look more closely at these Feeder Clubs. No wonder a lot of them of seem unconcern about Olint’s current situation. They know quite well that there is very little principal sitting in their account with Olint!

  225. Interesting, MikeD………..Food for thought.

  226. The only problem is that like all crooks once they get their hands on the money for a while very little if any is ever recoverable. They usually splurge through it very quickly. In the case of ponzis most of the rest ends up with the early ‘investors’ and insiders.

    Once lawyers and receivers become involved you also need to understand that as a group lawyers are the vultures of human society. Once they come in in situations like this their goal is to see if any money is there so they pick it clean down to the bone. Once they are done the little flesh left will be virtually picked clean.

    At this point the best “investors” can hope for is to hope the perpetrators are prosecuted and for each to learn a proverbial lesson about the losses that accompany unbridled greed.

  227. A court document reaching me sem to indicate that Pricewaterhouse coopers reported to the court earlier this year that there is evidence that Olint was indeed a ponzi. It appears that there was very little trading going on since Aug 2007. There is a direct link between funds coming in and funds being paid out without these monies making it to a trading platform.

    FROM WHICH COURT???

  228. Yet, neither the private individual nor the press, in the case of the latter as proxy watchdog for the community over the handling by Government of their affairs, enjoys such immunity in their review of the conduct of public officials. It would seem to us, as has been eloquently argued by the Anguillan-Antiguan attorney Bernice Lake, that the legal plane from which the free press, and by extension the society, can interrogate those whom they entrust with high office and the management of public resources, should be substantially extended.

    http://www.jamaica-gleaner.com/gleaner/20090608/cleisure/cleisure1.html

  229. “There can be no meaningful participation in the fashioning of the nation’s affairs unless the conduct of those who direct our affairs can be held up to public scrutiny without inordinate trepidation,”

    http://www.jamaica-gleaner.com/gleaner/20090608/cleisure/cleisure1.html

  230. Nocotec, the last line of you last post seem to imply that an “investment” in OLINT amounts to “unbridled greed”. That is not necessarily so.

    There are those who did it to diversify their investments, there are those who, having never invested before (the simple country folk, the uneducated) accepted advise from the church pastors, relatives ect. I don’t think it was greed in many cases. Mostly it was gullibility in some cases; yes it was greed in some but mostly it was folks not knowing enough and just wanting to take a chance to better their lot.

    I am not offended but I think that that statement could offend some.

  231. Well said Tafari.

  232. The TCI weekly quotes, Justice Richard Williams as revealing that the Supreme Court in TCI had personally received “streams of correspondence” from anxious local investors.

    Has anyone noticed that the Justice stated that he received correspondence from “local” investors?

    Could that be taken to mean that the Jamaican investors are mum on the issue and are still trusting in DS?

    My feedfer club guy seem to still have full faith in DS. Scary!

  233. Tafari Francis,

    I comes down on who you trusted to get you through the complicated world.

  234. Allow me to credit the source of the quote in my last post. Quote taken from top of this blog:

    “The TCI weekly quotes, Justice Richard Williams as revealing that the Supreme Court in TCI had personally received “streams of correspondence” from anxious local investors.”

  235. MikeD you may well have hit the nail on the head…poor nail!

    But now we know what we always knew…Money and power corrupts.

  236. MikeD, I had a lenghty discussion in an earley morning call from someone in the know, about your most recent post. It appears that some of these feeder clubs have been doing their own thing for quite a while. He indicated that he nows of at least one instance where a feeder club was taking more money on behalf of clients in encashments than they were paying out.

    Interesting stuff!

  237. Mike D, you are absolutely correct about the feeder clubs. This is why I say so. I personally spoke with a feeder club owner and she told me that she did not send all the monies to Olint. Because Olint took so long to pay, she kept a portion of our deposits in order cover her monthly disbursements. I have always said, the feeder club owners maybe ripping us off, also.

  238. These actions by the feeder clubs (if true) may result in investors receiving nothing in the event that money is located and there is a payout.

    Like MikeD said, there is just a bunch of “bogus” interest recorded on paper….But in a ponzi, there is no real interest, since there is no real investment. The payout, therefore will be based on the principal investments.

    If the feeder clubs didn’t send all principal investments to OLINT……OOPS!

    But that point may be already mute since investigators are yet to recover anything…OOPS.

    It is just a bad situation all around….Really tough.

  239. Tafari, RedP et.al.

    This may seem unrelated but I suggest that most would do well to start reading about some of the recent discoveries made over the last 20 years or so on how the human brain works. It will serve you guys well. It is much harder as you get older to retrain your brain but not impossible.

    For example do you knoow that schizophrenia which often makes those afflicted seem stark raving mad has a very simple explanation. Deep within your brain is a center that stores memories.

    When the brain receives information and needs to process it, such as should I invest in an illegal scheme claiming to generate returns averaging above 10 % per month… the frontal cortex which is the center that controls intelligence compares this info against our memories (call it history) stored deep in the brain… it then makes a decision on how to behave or proceed, using the memories or experiences as a frame of refeerence.

    To make a person stark raving mad all you have to do is sever the communication link between the cortex and this memory storage center. If you will, the frontal cortex has no
    frame of reference so it directs the person to respond in a total irrational way. In other words, the ‘mad’ person has the same brain but with just one or more communication links broken.

    This is the same process at work that limits us from unbridled greed. Without enough experience (memories) to compare against you will often respond to this kind of temptation in a manner akin to being stark raving mad. And when this behavior is pointed out the response will be akin to that or trying to argue with a ‘mad’ person. Arguing with a mad person is futile because through no fault of their own, their brains due to the broken connections will be convinced of a separate irrational logic.

    This was very prevalent on these blogs during the hey day of the ponzi clubs. Part of the learning process forward is to retrain the brain to request more info before finalizing decisions.

  240. @Tafari
    Ponzi and Mini Ponzi…

    @MikeD

    Well said. You know how long we have been advising people that they need to go after not only OLINT but the FEEDER CLUBS!? Excellent post.

    Taken from post on June 1, 2009
    “I agree with you. People should accept that a mistake was made and move on to have the OLINT feeder clubs liquidated and along with their principal’s assets used to repay investors who lost their principal.”

    Take the feeder clubs and principals ” to court and get a liquidation order. Many Principals have acquired assets form their operations…

    1. SGL Holdings
    2. LEWFAM
    3. Wealthbuilders/UWIN
    4. Regency
    5. Vision
    6. KUI
    7. Wilshaw
    8. F1 Investments
    9. FX millionaire Club
    10. Faith International Investments (operated by Phinn)
    11. Others? Let’s have the names

    @NoCotec
    You firing on all cylinders….

  241. You guys are getting hot.
    Question

    1. How many feeder clubs have filed suit against Olint?
    2. Any reason why we have seeing a flurry from them?

  242. It is premature to speak about what people should do and also advise on issues of Principal and Interest.

    Although allegations exist of Ponzi Smith must confess to the truth.

    Now he chooses not to but after so much time waiting some more should not be a problem.

    David Smith is the center and the cause of the disease. Trying to ignore the correct diagnosisis not going to cure anyone, particularly the Smith’s.

  243. These may be other feeder clubs for Olint.

    12. A3 Union
    13. Right Vision E-Partners Members Club
    14. Strategical Alliance Investment Company
    15. Partner Financials
    16. Image Consultants & Services
    17. Nipo Farms
    18. USIMO
    19. Keen Exchange

    Now the JI also formed the following clubs which was said to have links to Olint.

    1. Wisdom Investments Ltd.

    There was another fund which was being formed however the name slips me right now.

  244. A distinction must be made so that the world will realize that there are still a majority of our church leaders who are serious about standing up for what’s right in the TCI. What is right is to send a message to corrupt politicians that one cannot take the people’s monies, lands, assets, jobs and futures. That one cannot sell 1000s of Works permits, Belongerships, PRCs and deprive the residents of the TCI of work and job opportunities. Church leaders must call that wrong and not call the ministers, who are still selling work permits, “right”. These men and women are not “right” they are “wrong” and they are betrayers of the trust of the people. Church leaders who succumb to these “being paid off” antics, by endorsing this kind of wrong, are hurting the mission and credibility of the church. You men are going to cause people to be disillusioned with this kind of message when the average person knows that this Government is wrong on all points and you there, as a preacher, are calling it “right”.

    http://www.tcijournal.com/index.php?idsub=1366&id=8

  245. He tells Sir Robin that Hoffman has “now made a signed statement denying any impropriety in relation to the Salt Cay property.”

    http://www.tcijournal.com/index.php?idsub=1365&id=8

    David Smith needs to take a page out of this book.

    Where is your signed statement David Smith?

    Don’t you agree Tafari?

  246. Don’t forget to get your pen back after he signs. Or later you might hear him swear it ‘belongs’ to him.

  247. Here we are, it is the final furlong in the TCI Commission of Inquiry Derby and all your money, savings and home equity is wagered on the yellow clad pony with Michael Misick [ David smith]riding jockey. It is a sure bet as the jockey promised his ride can’t lose….and the pony stumbles and looks to break a leg in the last furlong…the last 220 yards to the finish line.

    http://www.tcijournal.com/index.php?idsub=1365&id=8

  248. David Smith might as well kill himself, because he is no longer a human being in my book. He was acting on behalf of the devil to take poor people money like this and not coming forward with the truth.

  249. I wonder how the death of David Smith will affect the payout (if there is going to be one)….Hmmnnnnn……I wonder.

    I wonder who else knows where he stashed the money….Let’s say Tracey. Anyone thinks she will be more forthcoming after he is gone?

    Or Wayne, will he just give it all up?

    Why is the family not coming forwadr with information? Is it out of loyalty to the head or is it that they have a conspiracy to defraud investors?

    Well, on the other hand, how many still think that DS has the money somewhere nice and safe to give back to us when he gets out of jail?

  250. David Smith has hidden money. He told me so in front of his brother Wayne and three other witnesses.

  251. In a ponzi, money is usually hidden in such a way that the time and effort it takes to find it, is not worth it.
    At US$120-$180/per hr for consulation fees, the cost associated with such investigative works runs up very quickly.
    The additional fees include:
    Travel cost(Airfare)
    Telephone charges
    Hotel Charges
    Local transportation
    Fuel cost
    Paper, printing material etc
    Legal cost (which in a ponzi are much higher than normal 🙂 )
    All the above are billed at cost.

    So, I say once again the prosecutor has to go for the maximum term possible in this case.
    In the USA I know this can be up to 20 years, however under British laws I have no idea how long this is.

    If DS sees himself facing the possibility of 20 + years in prison plus having is assets confiscated, I am sure you will see him cough of where the loot is hidden (at least a good portion of it) in exchange for a 5 yrs sentence.

    Again, folks dont lose sight of the fact that the feeder clubs are just as guilty and you should be going after them also.

  252. I find it hard to agree on your 20 years theory Jay. We will see who is ‘vindicated’ on this one in time.

    I suggest that testimony from just one witness is worth 20 years out of a possible maximum over 100 years.

    the small TCI case carries about 25 years.

  253. floridian, that makes two…I have at least one other source to whom David Smith said to him and his wife in Augast of 2008 that the money is “in a safe place”….I wondered why DS would say that to anyone so I didn’t believe him. But with what you said, it seems possible that this guy was telling the truth. He seems so confident that DS will pay eventually that he said to me recently that he is “not losing any sleep over it”.

  254. lol…tafari ..floridian open your eyes and see the light…fraudster smith will continue to con people until the second coming of Jesus….let us put our trust in Jesus alone….that “money in a safe place” is a big part of the exit strategy…that’s the modus operandi of a fraudster…david is a iceman cold and calculated along with his wife, mother and wayne…they are still living a life of luxury with money that they have stolen…and heres the sad part of it…jamaicans living in jamaica will not see a cent returned to them..two reasons..US$10m will be share among the people of turks and secondly MikeD scenario must be taken into serious consideration.

  255. IMF team on the island laying the groundwork for the loan (link below)…some said after the IMF Olint report and the Golding visit to Turks that DS would have to pay before the IMF facility would be made available…I wonder if that could be true.

    http://www.sunheraldja.com/article/show/2752

    -Söze

  256. People die Tafari and yout ‘freind’ not losing any sleep over it…..sounds like your in DS camp for sure. Full of Character.

    Give it up Tafari…breathe normal…holding breath makes the chamber experience more horrible. No matter what you boyz and girls going prison.

  257. Tafari,

    There were so many sources whuch said

    1. David was a great trader.
    2. David was a honest man who would rob no one.
    3. David was a good christian.
    4. David has years of experience trading forex at JMMB.
    5. David repaid all “invester” during the run on 2006.

    And the list goes on and on.

    David Smith himself wrote a letter confessing his wrongs and was about to come clean, when crooked lawyers stepped him, and changed the letter.
    Not only did they do that, they proceeded like vultures to begin the process of engaging in one of the most outragous display of greed that can ever be done, by removing large portions of investors money under the pretence that they were “representing” David and Olint.

    1. How many lawyers were respresenting Olint and David Smith.
    2. Is the “crack” team of lawyers still in place.
    3. Who is now representing David Smith.
    4. How many of the lawyers from the “dream” team had monies tied up in Olint.
    5. Is the payment they received really repayment for their “investment”.
    6. Is what the received, equal to os less than (a) outstanding balance left in Olint ie accumulated principal and interest or (b) remainder of principal outstanding.

    If lawyers did have money tied up in Olint and represented him in the TCI, would that be considered to be a conflict on interest.

    If lawyers did take out as “fees” much more than they put into the scheme is that tantamount to fraudulent conversion.

  258. Jay, Isee Fraud:

    The situation remains the same, really.

    Scenario No. 1:

    If David Smith was a ponzi operator all along, then he is a thief. If he is a thief, he would not pay out all these millions down to the last 10 million.

    This equals money stolen and hidden somewhere.

    Scenario No. 2:

    David Smith was this good Godly christion who wouldn’t steal a cent. He was trying hard to trade Forex to save the poor.

    He lost much of the money. Since there was no run on the funds in late 2007, one would assume that he didn’t lose all of 200 million (or however much he had of people’s money).

    This equals some money stashed away somewhere.

    So gentlemen (or ladies whatever you are) that means to me that there is money somewhere.

    I do not care for David Smith or you or anyone else. My stated purpose is still the same. To recover whatever I can.

    Regarding the letter that David Smith wrote, do you think that he was coming clean? If he did write that letter, that was just a part of the trick. I certainly wasn’t going to fall for the “dearest investor…oops, I am a man of God and guess what,I lost all of your money trading. Forgive me and walk away”.

    In my opinion, David Smith realised that he was going to be exposed when he got word of the pending raid. That was just another ploy to get “investors” to walk away while he hid millions of dollars.

    I will never allow myself to be so blinded by “greed” (your word floridian) or hatred for David Smith (as is apparent by some of these posts) to take my eyes off the money trail.

    floridian, you attempt to misrepresent my statement regarding a “source” is ridiculous. Do you realise that folks could just scroll up to my post and see that I did not say that the guy was my “friend”?

    floridian, you are the self proclaimed “friend” of David Smith, remember? i wonder what you guys talked about on the phone last night……………..

  259. Isee Fraud, to assumption that the 10 million will be shared among the TCI investors, one will have to assume that the auditors turned liquidators are working for free. To date, I am told, their fees exceed the 10 million.

    They will work very hard to recover some more money (to cover their fees) and if there is anything left over, then you may see a dime. But not before the liquidators are paid.

  260. to assume…………………

  261. Isee Fraud, on June 8th, 2009 at 10:45 pm Said:

    lol…tafari ..floridian open your eyes and see the light…

    Fraud, floridian has opened my eyes as to his identity. Hint, floridian once blogged as Sirach…and we all know who that is.

    So before you write, please have something to say.

    The idea is to keep talking about this. This blog provides a wonderful forum for this discussion and we should be very grateful for that. I am sure DS is reading and wondering when we will stop talking about and go away quietly. We should not let that happen…..

    But in terms of substantial information to date, I have learned very little from this blog. There is lots of passion, and a discussion akin to what you find at the village hangout and that is very entertaining – a very beautiful thing.

    floridian, I am sure, has much more information than he is willing to post here…so until he changes his mind and comes clean, there is no eye-opening.

    floridian, why won’t you open my eyes? What have I done to you? Here I am starved for information, and you won’t open my eyes. What sort of friend are you guy?

  262. floridian, on June 8th, 2009 at 3:32 pm Said:

    David Smith has hidden money. He told me so in front of his brother Wayne and three other witnesses.

    I have read here so many times that there is no money. People, floridian believes his friend. floridian wrote, “David Smith has hidden the money”. I take you at your word floridian…LMAO….where were you guys having that conversation? By the pool? At dinner? In the jacuzzi? Oh! It was on one of those fishing trips….What was Wayne and “other witnesses” doing there? Wasn’t that supposed to be quality time for just the two of you?

  263. floridian, on June 9th, 2009 at 4:22 am Said:

    People die Tafari and yout ‘freind’ not losing any sleep over it…..sounds like your in DS camp for sure. Full of Character.

    Give it up Tafari…

    There is floridian again trying to convince someone to “give it up”…

    WHY? How much is he paying you floridian to convince folks to give it up?

    No one is giving up Mr. David Smith…..No one is giving up. And there are those of us who are willing to NEVER let you get away with this fraud.

    If you stole the money, give it up…If you didn’t steal it, I do not need you to protect me from my money.

    In my opinion, there is absolutely no reason except you are using the money as a bargaining chip) why you should not pay up. You are caught. Do you remember? You were arrested and charged. A liquidator is appointed. Your “company” is no more.

    People need their money for medical bills, mortgages, college education….How sick are you guy? And then yoou call on Gods name….You are turning people away from God…Your damnation will be tenfold.

    floridian, you really need to give your friend david a call and have a nice little chat with him…..I am sure he will listen to you….

  264. floridian, on June 9th, 2009 at 4:22 am Said:

    People die Tafari and yout ‘freind’ not losing any sleep over it…..sounds like your in DS camp for sure. Full of Character.

    Give it up Tafari…

    There is floridian again trying to convince someone to “give it up”…

    WHY? How much is he paying you floridian to convince folks to give it up?

    No one is giving up Mr. David Smith…..No one is giving up. And there are those of us who are willing to NEVER let you get away with this fraud.

    If you stole the money, give it up…If you didn’t steal it, I do not need you to protect me from my money.

    In my opinion, there is absolutely no reason except you are using the money as a bargaining chip) why you should not pay up. You are caught. Do you remember? You were arrested and charged. A liquidator is appointed. Your “company” is no more.

    People need their money for medical bills, mortgages, college education….How sick are you guy? And then yoou call on Gods name….You are turning people away from God…Your damnation will be tenfold.

    floridian, you really need to give your friend david a call and have a nice little chat with him…..I am sure he will listen to you….

  265. @floridan, jay

    Interesting… notice the file name

  266. Any legal minds here? What is the max that DS is facing? I hope it is at least 25 years. That would give him an incentive to come clean.

    That may be our only hope since the TCI FCU couldn’t find the forest through the trees, and the liquidator’s incentive will be to recover enough to cover their fees and costs.

    So like Jay has been saying all along, you dangle twentyfive in front of him, you threaten to keep his boyfriend floridian away from him, and he will talk.

    This guy has been living a very lavish lifestyle from what I hear, so it will be very hard for him to go to jail for an extended period and give that up.

    Hey Mr. David Smith, imagine no casinos, no planes, no boats, no white women, no floridian to kiss……just you and your cellmate Bubba with the big pistol riding you every night…..

    The hope is that he will give up his stash for a lighter sentence. The question is, how much is in that stash?

  267. It has been a week since the liquidator was appointed and so far I have heard nothing official…..In the meantime their fees are running – much like a cab stopped at the red light.

    Price Waterhouse is not new to this case. In fact, they have been doing the so-called audit for minths.

    Can it be expected to take another 6 months before we hear anything again? If so, what will their fees be?

    Jay, I think it was you who suggested that the fees are US 180.00 per hr? Well, guess again. A company like PWC wouldn’t work for 180….Try 400-500.

    The corner-store ambulance chasing attorneys work for more than 180.

  268. Tafari

    True my money been secured you jus deh pon mi fenda. Learn to do something for yourself.

  269. Time wait on no man Tafari. Hurry because soon no blogs for your use.

  270. Yeah and try your best never to owe me any money.

  271. floridian exposed!

  272. gotcha!

  273. Then I just start my own blog floridian…how you and your pal DS would hate that. Guy, ah en goin noway so deal wid it….

  274. Owe you money floridian? Why/how would that ever happen? That I leave up to you and your childhood friend..

  275. You went to see DS and he paid you..Now you on the blog pretending to be someone else….

    Mr. Belcher you and your friend are two peas in a pod…..

  276. Folks if you have kids make sure one of this is one of the lessons you teach them… When they fail to listen and screw up do not always go behind them and fix it. This allows the brain to realize that some decisions in life are not fixable.

    These memories will be filed deep in their brain and will later in life be used by the frontal cortex to make good decisions. Your brain learns to let some things like investing in illegal schemes slide since the risk of non-fixable loss is too great for the remote potential of success. Most UFO ‘investors’ never learned those lessons early in life.

    Some bad decisions that you make simply cannot be fixed. Investing in UFOs like Olint is one of them. When these schemes fail the money is gone and only pennies on the dollar are left mostly for the lawyers and receivers. There is nothing anyone is going to be able to do to bring all the money back.

    You owe yourself and society an obligation to do everything you can to ensure that none of the crooks are able to continue to thrive and live off the ill gotten gains and where possible they do prison time. However while doing this you also need to understand that most if not all of your money is gone forever.

  277. True Nocotec…..well except you know the guy running the UFO and you can just get your share of the money before the police siezes it.

    Then you can blog forever while pretending to be someone else an watch everyone else suffer…

  278. One of the things that has upset many investors is that DS gave money to the 2 political parties. Apparently US 12 million to the JLP and apparently US 200,000 to the PNP. Note that the PNP would have got the 12 million if they were they the opposition at the time and vice versa. The party out of power can promise more… we will free it up when we get in… so they get more. The one in power can only say, after the election we will free it up more so they get less.

    Do you guys realized that you gave implicit consent to DS to do this? When the FSC warned against investing in the UFOs and raided Olint with its initial attempt to shut them down, you guys cried foul and demanded they be left alone. The illusory 10 % per month was too great to mash up.

    This attitude gave implicit consent to DS to seek out politicians who would promise him that when they get in power they would change the law and the rules to make the UFOs legal or leave them alone. Of course, this is generally what politicians do, they fool you up with promises they cannot or have no intention of keeping in order to get your vote or money. DS fell for it so he gave them lots of your money.

    But did you guys not cry for the UFOs to be left alone? Was DS not just using your money to get your wishes implemented? So why should that upset you now?

  279. Nocotec you are right again. Do you, however, remember some exchanges you had on the blog with someone calling themself “Olint-for-life”?

    Up to July 13 2008, this person was sure that the money was in NCB and would be paid out soon.
    Then they dissappeared.

    Do you know who that was?

  280. Whay is everyone so concerned whether or not Olint was a ponzi? There seem to be opposite extremes when it comes to that issue.

    I think the owners of this blog, for instance, have invested a lot of effort into establishing that Olint was a ponzi. Some bloggers have appeared angry when defending Olint. Some have attacked others for suggesting that Olint was not.

    Why?

    What does it matter now anyway? So DS was running a ponzi…..Good for him.

    So he wasn’t running a ponzi? Good for him same way.

    I think that while the discussions are great, we should concentrate on finding the money. So let us bretheren, dedicate Wednesday 10 June 2009 the official Find-the-money-day.

    Lets encourage bankers, Olint workers, polititians, David’s family members, floridian, former premier of TCI, David Smith himself, to join us on this blog as wer discuss and provide information on the money trail.

    let us locate the properties, the money in his mom’s name, the millions in his relatives name in Clarendon, the houses in Florida.

    Lets encourage the feeder club operators to pay all interest earned into a fund that we will establish at a local bank in kingston.

    Let us provide whatever information of illegal activity we can to the TCI court so that they can secure a conviction against the perpetrators.

    Or we can just argue whether or not olint was a ponzi.

  281. Tafari…

    Olint-for-life was likely one of the persons very close to Olint and DS, probably an insider. Hermes was likely the Olint PR rep… The choice of the name Hermes struck me at the time as very curious… Hermes was the messenger of the gods in greek mythology… of course I also pointed out that Hermes was also the god of animal husbandry 🙂

    The Kevin dude that formed the #4 blog is probably the Olint PR dude or was working at his direction.

  282. I agree with Nocotec, however it is my view that there was a troika of JLP politicians who promised David that the laws would be changedThe OlintJa records support this.A massive effort is being made to silence the critics of the JLP 3
    including this blog but history will establish the reallities of thiseconomic meltdown.The IMF KNOW
    that the JLP team is lying about everything and the newspapers are virtually under Government control, little bettet than Government censors.

  283. nocotec:

    At that time I was not blogging but I frequently read the blogs …And I got the same impression. Knowing what I know now, it is even more evident that they were Olint insiders. DS was even then actively trying to influence those reading these blogs.

    And if he did then, he is surely doing it now. I wonder who among us is blogging on behalf of DS…I would imagine that the tactic has changed……

  284. These PR guys who worked for Olint should be arrested and charged for conspiracy….

  285. Nocotec is an analyst who speaks at the theoretical level but not at the practical level.Bruce will be choked
    by theeconomic malaise caused by Olint.There will be no standby-arrangement until the JLP pays the
    working people back their 12 million dollars.How much of that money was trousered by the JLP3?

  286. Tracing and then recovering money form a ponzi scheme is very time consuming and involved… not something that can usually be accomplished without huge resources. And yes it is important to know that OLint was a ponzi scheme. Establishing that fact was important… it let investors and most important potential investors know what they were in for.

    The usual way to wind down and discover any hidden funds is best accomplished via law enforcement. They usually have the authority, manpower and technical expertise to accomplish this most efficiently.

    The problem is that the JA law enforcement and legal system is that of a banana republic. They generally lack deep resources and the technical skill to efficiently accomplish what is required in this case. Even more important is that they lack the will, partly because there is so much more pressing issues for the limited resources such as violent crime… and partly because of the lack of political will.

    Additionally in the view of many in the political and law enforcement system this was a crime that is as close as one gets to consenting adults agreeing for one party to steal the other party’s money.

    The view is that folks were warned and instead of heeding the warning they cursed the messenger (FSC and others including Omar) and demanded to be allowed to have their money stolen. Long timers, recall my Busta story?

    Tafari, In summary what you would like accomplished is the job of law enforcement but you are up against inefficient JA systems.

    In these cases normally you investigate… charge DS, WS et.al…. And charge or threaten to charge their mother and spouses… You put increasing pressure on them , keep ramping it up … their kids will be without their parents for 20 plus years… their mom will be someones bitch in prison… they will be too old by the time they get out to enjoy any money they have hidden… Reveal all the money and assets and we will not t charge your Mom and give you less time etc…

    The problem for investors is even with this implemented there is still only pennies on the dollar left.

  287. Larry said: The IMF KNOW that the JLP team is lying about everything and the newspapers are virtually under Government control,
    ________________

    The IMF said as much in their report….I wonder if they have any conditions related to the funding that they are planning to attach, which I have heard rumors about, but have not been able to confirm…it seems strange to me as well that they would issue that scathing report talking about the political support and the media’s role, and then just do a 180 and hand over their cash.

    -Söze

  288. The IMF is not going to enter the Standby arrangement until the 12 million dollars is paid back.I got that from my cousin who worksat the Dept of State. Further the IMF has no confidence in Shaw or the Olint 3.A book about Olint will be out shortly.Olint thescandal from A-Z.This book features Creary, Wignall, Vaz,
    khoury,Clarke. Interviews of Bryan Wynter and Detective Knighton from Turks is there too.Details of the olint List and list of depositors are there and the pending cases.Pictures of David and Wayne Smith on the dust cover.Publication August 2009

    • While I do not beleive what you say is true, I firmly beleive that the JLP MUST pay back the US$12M or whatever amounts was received from Olint for the elections.
      The PNP should do the same thing. The JLP government would have moral authority to prosecute Olint for operating a PONZI scheme having taking “dirty” money from them.

      This is the JLP Trafigura, but the PNP is silent as there hands are not clean either.

  289. David Smith will cut aplea agreement with the Feds and tell them where the money is.

  290. Have you guys heard about the Olint book?

  291. Olint book? Whaddat?

  292. Tafari,

    How much of Olint money, did the “dream team” of Olint lawyers take before skipping town.
    Gifford etc.

    Who is the receiver for Olint?
    Who is DS/Olint current lawyer.

    If information is correct and using the cash plus case, it was reported as follows,

    CashPlus/Carlos Hill legal cost US$46.5M ($J4B)
    Receiver cost US$3.5M ($J308M).

    Total so far US$50mor J$4.4B.

    The Olint case more than likely will trend the same direction, which means that between the receiver and the lawyers, there will only be a skeleton remaining.

    Receivers and lawyers are no doubt have a field day, as thus must be some of their biggest payday in history.

    Watch out for my book.
    How greed took over Jamaicans worldwide, and how the lawyers and receivers cashed in.

  293. Just for clarification.

    My book has nothing to do with this new “Olint book”, which has been reported here.

  294. The same people who wrote the IMF paper wrote the book,thats what I heard.Jamaica will ban it I am sure.

  295. The money to the political parties and them keeping it after the revelations illustrates the banana republic nature of our country. E.g., in the USA after such revelations the money would be paid back or donated to charity…

    But consider this… What should the parties do with the money? Has Olint has been charged criminally or is it in receivership in JA? Should they pay the money back to Olint? Should they pay it back to investors? Which investors should get the money and in what amount? How will the amounts be determined?

    You guys were quite happy to hear whispers of how Olint and the UFOs would be freed up… it was because of these donations… now you want others to clean up your mess.

  296. Startling Revelations !!

    Can you believe that the previous court appointed receiver in the Cash Plus case himself was a convicted felon.
    Lijyasu Mahomet Kandekore, aka Monty Kandekore was a convicted criminal and dibarred Attorney in the USA.
    (The guy was removed from the cashplus case but no reason was offered for his dismisal, now we know why).
    Kandekore was permanently disbarred from the Florida bar on October 9, 2003 because he continued to practise while he was disbarred for his criminal conviction in April 1995.
    Absolutely amazing !!

    So a convicted felon was receiever for a firm of another convicted felon.
    How could this have happened, and no one knew.

    Well I guess its the same with CashPlus, where Carlos Hill was a convicted felon but was able to setup shop in Jamaica.

    We really have a banana republic. More shocking well not so shocking information to report shortly.

  297. @jay
    I was planning to right on that Kandekore story.. but you let it out….

  298. Well, I guess you can write on the Noel story, I will forward you the details in few minutes.

  299. so when do you people think that the whole trurth and nuttin but the truth will come out and this thing will be but to rest cause it is getting quite annoying . Yes i want my money back just like everyone esle but cant see why the hold up is taking so long. I think by august we should get and answer.

  300. By the way anyone know who Carol Pantry is?

  301. Got the info Jay…

  302. Gentlemen/Ladies,
    I was abroad at the time of that murder. Was it ever proven that Vaz had anything to do with it or was it pure hearsay? Or is it as we say here that if it nuh go so it nearly go so? If he was involved it is an absolute travesty of justice. unfortunately something we see on an almost daily basis here in JA.

    Labourite!! Whaappen wid yuh party?? The day Vaz, Creary and Robertson became entrenched in it is the day I lost faith in it. I hope Bruce know who him have undah him wing.

    Peace

  303. Jay,

    I seem to recall back before he was dismissed someone posted, I believe on this blog, alluding to those improprieties.

    I mean how hard is it to ask someone to provide a copy of their credentials and then actually check them … geez

    Talk about banana republic… Just like a Boiler room scam. First Carlos scams the ‘investors/lenders’ and then another crook is brought in to scam what is left… and the 2nd crook is sanctioned by the court… lol

    Sounds like a comedy movie .

  304. RedP,

    By bthe way, in your post on the other blog… The Willie Lynch story is urban legend. Much of the article is good though. However the Willie Lynch story was invented and is used to make it seem that we are somehow not responsible for our behaviors toward each other…. it is the man.

    http://www.jamaicaobserver.com/columns/html/20090608T230000-0500_153079_OBS_IS_SUCCESS_A_PUNISHABLE_OFFENCE_.asp

  305. The Judge who is handling the Cash Plus cases
    RoY Anderson is a bankrupt,which is against the law in Jamaica.Because he is pro-Government he is still
    in his job.Banana Republic !

  306. How did the JA dollar become so undervalued? Someone suggested that it was because the JA govermnent “a ginal”. The y ran out of money and just printed more, and then ran out again and just printed more…Is that true?

    Is the whole damn country “a ginal”?

  307. How did the A dollar become so undervalued? Someone suggested to me that the government “a ginal”.

    According to him, each time they ran out of money they just printed more.

    Is that true? Is the whole country “a ginal”?

  308. “He will be testifying at the potential criminal trial in this case, I am positive of that.

  309. With all the money going to pay Price in TCI then the operations in TCI are no longer a factor in people getting back money.

    The cases in the USA are what is facing the Smith’s now.

  310. The money in the states is not that much either…..

  311. john Doe and Jay

    Looking back at older blogs i noted it was Sirach who explained the kankadore story from last year. A lot of talk on books about the Olint fraud. i wonder which author would be the most credible and interesting.

    As in most aspects of the OLINT/SMITH family fraud time will tell.

  312. Jay

    How does Justice Donald Mcintosh fit into it?

  313. @Florida.

    I am afraid I have no information on that Justice at this point in time, is there something that I am missing.

  314. The beginning of sin is not characteristically one of repulsion or even aggression. Sin begins with a beguiling, persuasive and appealing nature. Unfortunately, however, at the advent of sin we have only a myopic (near-sighted) view of its consequence

    http://www.jamaicaobserver.com/columns/html/20090609T210000-0500_153126_OBS_THE_MYOPIA_OF_SIN.asp

    celtakirk@yahoo.com

    RED PPPPPPP! What is the stance of the prayer group? Reveal thyself lest you be revealed without your consent again.

    RED Pppppppp!

    • Interesting article on 2 Samuel Ch 11 and 12.

      All I can say is thank God that He sent His son Jesus Christ to die on the cross in our stead, to be the ultimate sacrificial lamb. Thank God that when I sin (for we sin and we know not) I can approach His throne of mercy and grace and seek forgiveness through the shed blood of Christ. Thank God that after repentance when God looks at me he does not see a sinful man but a sinful man covered in the atoning blood of his Son. What He sees is a sinner saved by grace. And the most wonderful thing is that this grace is available to all mankind, not just a select few, for God is no respecter of persons.
      Yes we are human, none are perfect, born with a sin nature, we fall down (in sin), but through Christ we rise again. He is able and just to forgive us our sin. No matter what that sin is, murder, adultery, theft and the list goes on. What a wonderful, awesome God !!
      If you are not in a relationship with Christ I can tell you its a most wonderful thing. He will change u from the inside out. Ask Him to come into your heart and He will, seek Him and u will find Him.
      Christianity is not about religion, its not about denomination and hail Mary’s and man made doctrine. Christianity is about relationship folks and Christ wants a relationship with you. For it is His desire that none perish but that all be saved.

      floridian, I cordially invite yourself or anyone else to come join the prayer bus and check out the “stance” for yourself, there is no hidden agenda. Drop me a line nuh?
      cjb@cwjamaica.com
      olintdude@gmail.com

      Love and peace

  315. The new target between budgeted income and expenditure is now $78.2 billion or 6.5 per cent of GDP, up from the $65.4 billion or 5.5 per cent of GDP originally projected for by finance minister, Audley Shaw and his team, which includes senator Don Wehby.

    He however pointed out that governments always changed this format when dealing with international agencies such as the IMF and the money expected from divestment flows is added to the fiscal deficit target because of the uncertainty involved. Weise further argued that this was standard procedure, when asked if this was not an act of deception but conceded that the communication with the public could have been better.

    http://www.sunheraldja.com/article/show/2760

  316. ‘Hit the crooks who defrauded you hard and fast’, asset recovery attorney advises victims.

    As tens of thousands of victims of recently-collapsed investment frauds ponder how to go about recovering their savings, three words should be on the forefront of their minds – speed, aggressiveness, and experience.

    http://www.offshorealertconference.com/OAC2009/Hit-the-crooks-who-defrauded-you-hard-and-fast.asp

  317. Investors in jurisdictions outside the TCI…..We should come together and file suit. It will be more cost effective.

    I am willing to share fees with any Olint investor whose feeder club has not been willing to take action against Olint.

    It has become painfully obvious that my feeder club has only a small amount of principal at Olint and has been using new funds to pay out encashments. Therefore, since the interest on the books at Olint is bogus, there is nothing to recover. That is why my feeder club is refusing to take action because any legal action would expose their mini ponzi type doings.

  318. “These are not the type of cases where one should be learning on the job.”

    Interesting Link Jay

  319. Tafari,

    You have now become enlighten to the reality of the situation.
    I figure that all along you knew this but was hoping the reality would have been different.

    This is a massive fraud involving a large Ponzi operations, with many mini-ponzi operations taking place within the larger one.

    The Olint affair has the potential to further expose many many influential Jamaicans, the list which is pretty impressive.

    The question on many lips is could David Smith have orchestrated this all by himself, and if not who where his conspirators.

  320. Jay:

    It has always been clear to me that there is more in the pot besides the peas. In the past week or so, I have seen some documents which clearly point to a mini ponzi at my feeder club.

    The sad thing is, what do I do with this information? Send it to the Jamaican police? Send it to the TCI FCU? That seems pretty pointless. So I am left with the alternative of filing suit against my ponzi.

    It appears to me now that some of these feeder club ponzi operators are very glad that Olint failed this way. Now it was Olint’s fault…..Not theirs. Meanwhile, they make away with millions of dollars.

    In the first three months of 2008, my feeder club took in US $3, 300,000.00. I have records for only US $157,000.00 making it to David Smith – Some via checks and some via wire transfers.

    In all, my feeder club has over US $ 21, 000,000.00 on the books with Olint. Out of that, only US $ 5, 000,000.00 or so is principal.

    This means that the funds from many of the new investors who gave money to the feeder club in 08 did not make it to OLINT.

    PWC has their work cut out for them….And they will cut out a large portion of whatever they find in fees before this is all over.

    Many olint investors will now have to look to their feeder clubs to recover funds since it appears that DS may not have seen a penny of their money.

  321. Tafari, you are absolutely correct.

    So the million dollar question now is, where are the operators of those feeder clubs.?
    Are they sitting on millions or are they broke.?
    Did they misappropiate the funds given to them and lived lavishly.?

    How much does Olint really owe direct investors ie those that placed money directly into Olint , no feeder clubs.
    If money was given to the feeder clubs and it did not make it to Olint, then Olint cannot be held liable by the feeder clubs.

    Its going to be really interesting in the coming days.

  322. Correction, the second to last sentene should read:

    “If money was given to the feeder clubs and it did not make it to Olint, then Olint cannot be held liable by those indivdual investors.”

  323. Tafari

    Those feeders you speak of were more lucky than the rest. Seeing as David Smith provided them with a running balace every 30 days they were able to source cash from their accounts. Instead of grovelling to a set of maniacs of course.

    If the Smith’s seek to deny the statements they provided that’s pure fraud. No ponzi issues there. Fraud.

  324. Tafari Francis, on June 10th, 2009 at 8:13 am Said: ….”In the first three months of 2008, my feeder club took in US $3, 300,000.00. I have records for only US $157,000.00 making it to David Smith – Some via checks and some via wire transfers.

    In all, my feeder club has over US $ 21, 000,000.00 on the books with Olint. Out of that, only US $ 5, 000,000.00 or so is principal. “……..

    Tafari Francis:

    How long do you have this information in your possession?

    How did you get your hands on such details of your Club?

    Why not publicly name the principal of your feeder Club? Why protect him or her? We all want to the names behind these feeder Clubs.

  325. Good question mike D,
    Seems like Tafari has far more information than he is sharing with us.

    Tafari, I hope you were not a “pig”.

  326. MikeD:

    It appears you are put on this earth to be a constant annoyance to tafari.

    Tafari Francis, on June 10th, 2009 at 8:13 am Said:

    Jay:

    It has always been clear to me that there is more in the pot besides the peas. In the past week or so, I have seen some documents which clearly point to a mini ponzi at my feeder club.

    MikeD: Why do you want the name of the feeder club guy? To gossip? You seem to suggest that if I do not name the person here that I am protecting him/her. You are an idiot.

    What is the name of your feeder club guy/gal?

    How did I get the information? The same way you should.

    The information I gather is not for gossip MikeD. It is for legal action. I issued a call to action here and I got no takers. If you want to join me in a lawsuit, MikeD, I can give you my contact info, you can contact me and I will put you in touch with my attorney.

    Otherwise MikeD, if you just want information to gossip about, talk to floridian. Tafari is not your guy.

  327. Hey Jay:

    PWC can’t touch Olint Corp.

  328. While we make every attempt to not hold posters information , there has been some information that are being reported that we simply cannot publish on this blog.

    Regardless how one feels about an individual, we (blog authors) simply cannot post some of the venomous stuff that are being written by some posters.

    As much as we are angry at some government officials, this forum is not meant to address those issues and we simply cannot run this risk of having the blog shutdown, because of a few persons anger.

    I therefore suggest that one post in such a manner which, with some deduction, one is able to figure out who is being references, without the names being mentioned, particularly when such allegations can have far reaching implications on information flow.

    This is our fourth such request, folks please work with us to keep the blog alive.

  329. Jay:

    I am still playing a game of follow the money trail.

    I have no interest in jamaican politics (except in cases where money went to the polititians).

    I have no interest in who knew what and when (except if the information could help me to recover my money).

    I have no interest in gossip without veryfiable information.

    Show me the money..show me the money.

  330. I am sure that Jay knows as much (much more) that I do. For instance, Jay, if I were to mention a number of countries to you, you will be surprised that you know more t han you think you do……

    Try these on….

    Canada, BVI, Tortola, St. Kitts, Panama, Bahrain.

    See Jay? You are smarter than me…Anyway, can’t say too much. But those who know, know that they know.
    I saw something you wrote sometime ago, Jay, that sent me on a hunt. Thanks for pointing me in the right direction.

    • Keep up the good work trying to find where the funds are. My attorney visited the TCI awhile back for a meeting with the DS crew. Three days and counting and they never showed up! Word is that DS had a serious gambling habit…on our dime of course! But seriously, we should not beat ourselves up for trying to make some money to make our lives better. Afterall, the hedge managers are making the wealthy richer as I sit here knowing I’ll never see that $25K equity loan again. Difference is these guys know they can, over the long term, make themselves a lot of money…by not robbing their clients blind! I hope they prosecute David Smith and his band to the fullest extent of the law.

  331. Tafari

    Overseas Locket International Corporation
    (domain name registered to David Smith, company
    incorporated in Panama, where its officers and shareholders,who are probably nominees, are identified in corporate filings as Nixia Edith Rodriguez Sanchez and Zulay Del Carmen Ulloa Botello, who also hold the positions of president and secretary, while Arixaida Aparicio is identified as its treasurer. This firm is also linked to something called Island Growth Fund Ltd.)

    Do you know the above shareholders.
    Are the Panamanian accounts still open.?

  332. There are some good asset recovery lawfirms in South Florida (can’t believe I just said “good” and “lawfirms” in the same sentence)…anyway, PWC will “work hand in hand” with your assets recovery attorney on this “journey ahead” to find whatever money is hidden.

    If you lost money in OLINT (not if you put in 10,000,000 and already got back 20,000,00) you should contact PWC. If you already got back more than you put in, you may not want to bother….You may actually owe money to later investors.

    I am a legal layperson so I don’t know how this will work out, but I believe that in the application of the law, there is an attempt to do the reasonable and fair thing.

    • Tafari,

      post some contact info for us. I’m sure a few people would LOVE to get in touch with them.

  333. FI Investment – a olint feeder club.

    F1 Investments (apparently operated by Steve
    Palmer, incorporated in Panama, where its representatives, probably nominees, are identified in corporate filings as —
    Shareholders: Roger Alberto Santamaria and Isis Rios;
    Directors: Roger Santamaria, Tatiana Salda, and Fernando Montero;

    Officers: Tatiana Salda (President)
    Fernando Montero (Treasurer)
    Roger Santamaria (Secretary).

    Tafari, how about these guys above, do you recognise any of the names.

  334. Jay:

    So you were the one holding out. That company actually has money in other jurisdictions. The company was never “licenced” to do business in Panama.

    One of the above named individuals actually has a joint account with “Olin Corp” (the jamaica company) with a balance of US 13,601,493.00. That was odd from the time I saw it. the web is very intricate.

  335. Jay:

    Find out how DS, Ingrid Loiten, and Martinez were linked. I am seeing Martinez’s name (the guy from the NFA complaint/250,000 fine) appearing here and I don’t quite understand.

  336. Tafari,

    I have yet to see any receiver in the caribbean, be it PWC, a lawfirm or any other professional for that matter aggressively go after the stolen loot.

    I have seen in the USA and the UK, where the receiver pursue, families, friends,associates, early investors seeking “clawback” of the stolen assets.

    I have seen them write letters to early investors telling them to payback the excess they received during the time of the ponzi, or face the courts. They were told that there assets will be siezed, sold to recovers the funds to compensate fleeced investors.

    Gifts like cars, jewellery etc which was given to friends and associate were asked to be returned which were to be sold and added to the pool of funds.

    Here in the caribbean, all I have seen is a group of persons who have been “recieving” large pay outs but have not been able to find the “loot” to payout to fleeced investors.

    Essentially what I have seen is the “receiver” (hey he has the right name too, as thats what the have been doing so far) has only been able to locate those funds that have already been identified and are really readily available ie frozen funds, but precious little else.

    I do not think the efforts that I have seen so far deserves the funds “received” by the receiver.

  337. Tafari,
    Check the NFA document for the link between DS, Ingrid and the Martinez.

    In a nut shell, Ingrid opened a trading account with I Trade Fx which was at one time owned jointly by DS & the Martinez.
    There was very little trading done on that a/c and the money did not stay very long in the account either.

    The document has greater details.

  338. Jay:

    There is more. Where did she get the funds? Was it Olint funds? DS and Ingrid Loiten’s names are showing up together too in documents completed unrelated to I trade FX.

    Regarding your concern about the “receiver” not going after the hidden funds, that’s where Tafari comes in.

    I will try to find every penny.

  339. Tafari, I think what we will try to do, is to link the bits of information.

    Ingrid Loiten – was the principal of May Daisy who was reported to have been paying as much as 20% per mth trading forex.
    She opened an account with I Trade Fx as I told you, and had at one point over US$2M in that account.

    She later disappeared with US$7M which was wired to a bank in Zambia, from which she later moved the funds to South Africa.

    She was arrested from money laundering but the case fizzled out.
    I suppose the extra US$5m where funds she received which never made it into any other account but her personal account.

  340. Hey Jay:

    The trick will be to link these monies to Olint TCI, and in some cases, Olint Corp. Unless that is done, david Smith will walk away from this a very wealthy man.

    I guess you understand my suspicions of bloggers like our good friend, who has all this “inside” information, but tries to deter people form going after the money. I say we find whatever we can and find whatever way there is to tie it to david Smith, Olint Corp, Olint TCI, get the court in TCI to have jurisdiction over it (doesn’t seem likely that the Jamaica courts will do a thing) and get PWC to pay people their money.

    At this point, 70 cents on the dollar will be welcome.

  341. Tafari,
    When you were getting checks from your feeder company, whose signature were on those checks.

    There is a link between, Olint Corp, Olint Tci, Island Growth fund, Usimo, Wisdom Investment Holding Ltd.

    Just try and recall apart from DS, who else would sign your checks.

    Island growth fund is/was a mutual fund setup in Cayman, this was one of the directors, seen in this picture in this link.

    http://www.jamstockex.com/controller.php?action=print&pageToPrint=readnews&ContentID=8776&

  342. @Jay and Tafari…

    Is a pity we don’t have the David Smith interview … Tafari you would hear DAvid explain his relationship with Ingrid…

    Liquidator appointed to wind up OLINT
    http://go-jamaica.com/news/read_article.php?id=9798

  343. Flashback, what did they say about Olint.
    http://www.olintja.com/docs/Leave_OLINT_alone.doc

  344. @Tafari…

    Realistically 0-20 cents is a better hope but aim as high as you want. If investors get 70 cents or near that on the dollar I would be very surprised but happy for them.

    Add F1 sued May Daisy too…

    @Jay
    Don’t forget the caribbean feeder clubs
    SGL Holdings – Grenada and EC
    Wilshaw – St. Luica
    UWIN – Antiqua

    Who are the principals for those

  345. Tafari Francis, on June 10th, 2009 at 11:21 am Said: ……”MikeD: It appears you are put on this earth to be a constant annoyance to tafari.”…

    How are those questions an annoyance? Help me understand….I’m an idiot!

    ……..”MikeD: Why do you want the name of the feeder club guy? To gossip? You seem to suggest that if I do not name the person here that I am protecting him/her. You are an idiot.”…..

    Not quite! I wasn’t blessed with much of a formal education, but I don’t think that I have risen to the stage of being classified as an “idiot”…close, but not there yet! 🙂

    You still haven’t answered the questions yet. They were asked with specific intent in mind, least of which did not have gossiping as its objective. In fact, I was a bit taken back by your defensive posture. Hmmmmmm 🙂 Maybe a group of “setup” questions? I find the timing of the revelations about your Feeder Club rather strange. But given my status of as the blog idiot, I will desist for further inquiries! Hahahaha…aaaaaaaaa

  346. EDITORIAL – Urgent court action needed on Olint
    http://www.jamaica-gleaner.com/gleaner/20071212/cleisure/cleisure1.html

    OLINT members back David Smith
    According to Smith “the club membership has attracted a wide cross section of individuals and organisations, including the church community which has been in constant prayer on David’s behalf.”
    http://www.jamaica-gleaner.com/gleaner/20060312/business/business2.html

  347. @MikeD

    You think 70 cents on the dollar realistic? Give me your opinion

  348. MikeD, you asked how long I had the info….My post (reposted for your benefit to no avail) clearly stated a week.

    SO MikeD, what do you have to share with us this afternoon?

  349. MikeD:

    I may have to sue the guy. I therefore cannot post his name here…Ever heard of a counter suit? Wouldn’t want to tip our hands, now, will we?

  350. To the best of my knowlege, MikeD, the information was obtained by legal means. I am not aware that any law was broken to retrieve the information I posted earlier.

  351. @Tafari…

    You have not reached the court yet? Ask the court to wind up the Guy…. When last he paid you? You have your statements? What you waiting on?

  352. Johndoe dear:

    Which court in Jamaica has done or is willing to do anything about the OLINT fiasco?

    The government will not permit any action against Olint and his entities….I tried. I got the run around from a lawyer in JA.
    Someone already filed a lawsuit to freeze funds at NCB. Did you see the court order on that?

    While I want my money, I don’t have unlimited resources to throw around. So everything in time dear Johndoe.

  353. I thought I would share this bit a information on the blog.

    The IMF team recentlly completed a report on the financial state of countries in the Eastern Caribbean region. They could not however leave out the inclusion of ponzi’s and it impact in the region.

    See documentn here.

    Check page 14.
    Pages 12-13 has information previously carrried in another IMF document.

    http://www.imf.org/external/pubs/ft/scr/2009/cr09176.pdf

  354. Tafari,
    Did you get a copy of the Capri report.(2008)
    Download, save and read this in your own time. It provides some additional stuff that you may find very useful.

    http://www.takingresponsibility.org/pages/findings/CaPRI_AIS_FinalDoc_jan10.pdf

  355. The TCI court has no jurisdiction over funds in accounts under any other business name except it can be determined that such funds were funneled from the company’companies registered in the TCI.

    Anyone with a link, please contact PWC in the TCI.

  356. Does anyone know who posted the 1 mil bail for DS?

  357. Edd, why is Anderson still a judge?For the same reason that Creary is not in jail.Jamaica is a banana
    republic. Charles Ross is handling money for Olint. Now he is an official enquirer.What a crook!

  358. Recovering any significant funds via civil cases will be a major challenge. Remember most of the funds have already disappeared to early investors or splurged by the principals in the main club and feeder clubs. Also remember that without the threat of criminal fines and imprisonment a moderately savvy person can fairly easily conceal funds, especially if it is done across jurisdictions.

    This is the difference in the case with Olint and its feeder clubs versus say the Madoff case. Lack of criminal prosecution. Unless this changes in JA or charges are brought in the US investors will generally be up a creek.

  359. Most of the Jamaica feeder clubs are registered offshore. That further complicates things.

  360. floridian:

    who posted the bail for DS?

  361. You know, I really have to give it to David for trying so hard to become a multi-millionaire.

    Sad to say, if he had spent that time and energy trying to do it honestly, then he would not be a “wanted man” in the USA.

    I will say that his plan to do the following was smart:-
    1) Buy the JLP and the Government of Jamaica
    2) Buy into the Hallmark Bank in the TCI
    3) Go into business with MasterCard USA by issuing the Compass Cards
    4) Link up with the Martinez brothers and transfer large sums of OLINT’s money to them
    5) Link up with his friend TM in Dubai and send money to him
    6) Use SAM and CR to launder more money for him while OLINTERS suffer
    7) Link up with Missick to give him the political support in the TCI and the Belongers status, thus escaping the reaches of the Jamaican judicial system
    8) Use the “dream legal team” headed by Gifford to push away potential lawsuits and legal woes.

    What was NOT smart was to get American investors involved. My brother just called me and told me there is now a group of investors led by a very intimidating professional who is putting large sums of money up to bring David to justice.

    David, I am much older than you. Take it from an old dog. Some people you do not want to “mash dem corn”. That is one man I would not ignore.

    I am so worried about my party. Gone are the Eddie Seaga days when I could be proud to see the American President visit our shores. Gone are the days when we had a man with vision and intellect who could lead our country and who would be invited to address a joint sitting of the congress and senate in America. Instead, we have our current Government being investigated by various Senate Committees. I am so damm ashamed and disappointed.

    Personally, I know Bruce’s situation but he is going to have to take the bull by the horns and get a control of our party. He also MUST call Eddie Seaga to get some good advice to restore dignity to our party.

    • This post is really a DUMB one….no wonder you are JLP-For-Life.

      Tafari…this is the guy you should call a idiot………………

      Your need to do some research on your dear leader, Eddie Seaga. Why did you change your usual name? I can spot your studpidity from a mile off!

  362. Serious allegations again no proof… #6 Post will have to go.. or be edited…. You can say without calling names..

  363. You guys saw this article…
    http://www.go-jamaica.com/news/read_article.php?id=9757

    The list very long… and it name names… will publish in a little while..

  364. Dear All,

    I want to thank you all for your comments and thoughts. They have been thought-provoking, funny at times and really informative.

    Here is what is true for me though….there are some among us that are literally toying with the unfortunate while they have been satisfied. Please stop and let us focus on how we can legally get back our money.

    It is true that a major conditionality for a line of credit to be opened to the Jamaican Govt. is the closing down of all UFOs. Let us see how this plays out…

  365. Smith made a mistake. He got involved with certain elements. We need Seaga back now.Only Seaga can reinstall dignity
    and order to the party,this is acritical time.Jamaica could be in trouble , if the IMF walks away;then dog
    will “nyam” our supper.

  366. JLP for life is to be commended on a brilliant analysis of what Smith’s plan is or was.Smith made a huge error by conspiring with Martinez . That brought in the feds the rest is history.

  367. sorry to be a bleeding heart but while it is evident that Olint was a ponzi, I think that DS did not intentionally set out in the beginning to defraud people….I think that as he started to get in way over his head he did not know how to stop and it became the massive fraud that it is today…..this does not excuse what he did but just a thought

  368. @interested it is a reasonable thought… Well it is time he just admit it like Madoff did.. Simple, end the agony… So many of his investors were christian minded and would have easily forgive and probably still would..

  369. Harbourshark:

    Where have you been? Good to have you back……

    Interested:

    I agree with you somewhat having spoken to a some who still find it difficult to accept that he was capable of such criminality. I think, however, that coming clean would mean giving it all up. After living this lavish lifestyle, it would be very difficult for him to give up every penny. Money corrupts….

  370. I am sure that there are many who would, afer getting only 50 cents on the dollar, would still be charitable to the Smiths if they were to come clean and give it all up.

    Jay indicated today that it was an Olint investor that bailed him out of jail. Now why would anyone do that? My guess is that people are inherrently good. That would include David Smith.

    So David, just come clean, tell all, give up the money, plead guilty, plea bargain a short sentence and you will be allright.

    We know you tried to help and got in over your head. You have done some good things with the money and people are not going to forget that.

    On the other hand, you could continue to hide the money, do twenty years, and hope to have the millions when you get out. But people like me will never let you enjoy a penny of it.

    So do the right thing. Trust me…..

  371. @Tafari and JohnDoe

    To be honest the coming clean would only confirm that it was a ponzi for me….I would still be PO’d about the fact that that bastard tief mi money….LOL

  372. Tafari

    With all due respect you need to get up to speed. You are not even up to speed of last year. You are rehashing facts that were not originally reported by jay (such as how the bail worked) yet crediting him for it.

    This case has manyu deep issues. If you truly seek to understand how events occured and unfolded any attempt in that regard is going to frustrate you if the foundation is flawed.

    The Smith’s upbringing and challenges therewith have a bearing on understanding how some of their actions seem to “baffle” the many.

    If you always use a paradigm that someone is “normal” then their actions will be hard to understand.

    A recent radio talk show here in Ja alluded to the fact that 40% of the total population suffer from some sort of personality disorder.

    Tafari

    See last years posts dealing with the concept of a “sociopath” its definitions etc. and also some of last years posts concerning the structure and culture that permeates society in Jamaica.

    Get up to speed Tafari. Because i have a feeling that the level of debate is not going to wait on the students that are behind any more.

  373. Tafari

    let me give you a hint to help you find direction.

    When David Smith said, “I have the best PR man in the World”

    You must reconise a subjective statement (the relative term “best” is a clue here) then maybe you might consider a decision tree analysis in order to proceed.

    Branch 1. David Smith himself believed in the statement.

    Branch 2. David Smith did not believe the statement and therfore was lying when he made it.

    Go on your quest Tafari. All the best.

  374. I must move on now Tafari. Iremeber always, the early bird cathes the worm. Don’t let “the best and the brightest” and the self promoted “World Class” fool you up.

  375. EXPEL THE OLINT 3 NOW.BRING BACK EDDIE
    WE WANT AN OLINT INQUIRY NOW!

  376. intersted you are a demented village idiot. Of course Davi d Smith was a sinster criminal from the beginning.

  377. Some are complaining that too many individuals and/or companies are allowed to perpetrate fraud on unsuspecting members of the public because some in the media do not do their due diligence before they promote some of the spurious claims.

    http://www.jamaica-gleaner.com/gleaner/20090611/news/news11.html

  378. Tafari Francis, on June 10th, 2009 at 3:40 pm Said:

    floridian:

    who posted the bail for DS?
    Reply
    Jay, on June 10th, 2009 at 4:51 pm Said:

    A olint investor, I think is name was posted here shortly after his bail procedure.

    floridian:

    shut up the psycho-babble. I know about your relationship to David Smith. I know who you are.

    You are full of information about David’s up-bringing, well, unless that helps me get my money, you could take that info and eat it.

    So who bailed DS was not “originally” reported by Jay. So what. What is your point dude?

  379. Sound Streeessed Duuude.

  380. floridian:

    what do you have to say that could help anyone? Why is it so important to

    “See last years posts dealing with the concept of a “sociopath” its definitions etc. and also some of last years posts concerning the structure and culture that permeates society in Jamaica…..”?

    floridian, he who has nothing to say should not write.

  381. Do you want to help me “find direction” or change direction floridian? My direction is finding the money. Why does that bother you?
    My investigator guy is good. So far, really good. He found out who you are.
    He will find out where the money is hidden. I am not going to take my eyes off the ball floridian. You should be watching your back because there are those who thinks that you are not so anti-David Smith as you try to let on here…Trying to distance yourself Sirach? Well Sean, the connection is already made.

  382. Tafari

    I think DS will take care of you. He loves the grovelling and the image.

  383. Early morning man. Go to the bathroom and flush your stress.

    Maybe I control who gets paid. But you would never think of that. Time to get a new investigator guy.

  384. Ok floridian:

    I can no longer see your postings.

    • I guess with all the documents that the investigator guy has been directing your way, a sudden onset of blindness have occurred. Is it temporary? Or is it Floridian lyrics that have such an impact on YOU? I guess Floridian finally get you to ease off his fender!

  385. While David Smith

  386. Makes pledges payments never occur.

  387. @Labourite

    Please refrain from insults because they are not necessary…I may be a “demented village idiot” but I am not millions of dollars out of pocket because of sinister DS….we are all here to gain an insight into what really happened. Your posts are rants that do not elevate anyone….

    No hard feelings though…I understand the frustration of living in a society when justice is hard to come by

  388. Interesting how some people continue in confusion in this mess… I saw a call for the return of Seaga to clean up the mess in the JLP about the donation from DS but did he not get fooled by Carlos with that Premier League thing?

    It should be noted that the parties accept funds all the time from tax dodgers and others not operating above aboard. Do not believe that DS was unique plus at the time there were no criminal charges against DS, only unresolved civil proceedings by the FSC.

    As I asked before, who or what should the JLP/PNP pay the funds back to? What mechanism is in place to distribute it fairly?

    I have been correct on this from the start… if the average investor ever sees 10 cent on the dollar back I would be surprised. But it is your own fault. Do not get me wrong DS and the others need to get their punishment…

    But you guys could have avoided this by spending 30 minutes investigating if claims of 10 to 20 % per month were plausible. But you did not and took your hard earned money or mortgaged or borrowed it and willingly gave it to a crook without any form of coercion. You ignored and cussed everyone or entity that pointed out the folly of your ways, accusing them of just being bad minded.

    Now your money is gone and you have no one to blame but yourselves. You are reaping a harvest of the folly that you sowed.

  389. hmmm….Interesting that I made my post above before reading bingy bert’s post.

  390. Ever wonder how why it seems so many ‘christians’ always seem to get caught up in these scams? It is easy to understand… faith is the process of conditioning the frontal cortex of your brain to accept ideas that are not logically resolved.

    This is the same process required to invest in a scheme with outlandish claims of high returns. The logic behind the plausibility of such high returns is left unresolved but one proceeds anyway. The brain has been conditioned to act in this manner.

  391. @Johndoe,

    I did read Bingy bert response today, rather interesting I might add.

  392. @Jay & John Doe,

    You sure Bingy Bert is not someone we know

  393. Interested I read the article twice and wondered.

  394. Cheated investors getting screwed not once, but twice.

    This is something I wrote on yesterday, and here these investors have decided to take action, as they will have none of it.

    http://www.law.com/jsp/article.jsp?id=1202431382435

    The situation here as I mentioned in that post is no different, where the receiver spends months and finds nothing more that I could have found, and then take most of it.

    I think the situation should be, that the carrot for the receiver to do his work should be that he get a % of what was found due to real detective work, and not paid from the accounts which were readily accessible that contained funds.

    In so doing they would actually be working for their money.
    Once again this is a position that I would expected fleeced investors to take.

    It may be impractical, and never tried before, but what the heck go for it anyway and see where it takes you.

  395. My thoughts are that he/she is an apologist for Olint/DS and more than likely, one of the Feeder Club owners.

    @Interested:

    No, I don’t think it’s RedP 🙂

  396. It wasnt me. I can be accused of a lot of things but I’m not Bingy Bert. 🙂

  397. What is the fascination by so many with whether DS started out crooked or later in the scheme became crooked? Look even the world’s most successful fx traders cannot sustain more than average of 20 % per year… he was claiming 10 + per month…

    Now let us attempt to subject or apply logic to the situation… something usually lacking among UFO investors. Did any of the most vicious or evil of criminals start out being a criminal the day of their birth? When did they start age 1? 3? 6? 10?

    In case you have not got it yet, every criminal has a point at which they turn into an evil crook? It does not matter at what point he/she became a crook. Only that he/she is a crook and the nature and extent of the crime. So stop with the crap that DS was a good guy who started out with good intentions but later pulled the Caribbean’s greatest swindle.

  398. Lawks Nocotec nobody is saying DS is not a crook…

  399. We all know the basic story of this fraud….what is infuriating to me is that people are harping only on DS, WS, TS….They are a big part of it but I want them to sing like a bird and reveal the other “tiefing” participants so they can have their day in court too….not to mention those that have gotten back monies after Olint pop down and then behaving like nothing gwaan for them….unnu a the worse….no tink people no know some of you…memba that Jamaicans CHAT NUFF….that is what helps to keep justice at bay…people play their cards to get theirs and f@$%$ off with those that have to SUCK SALT THROUGH WOODEN SPOON

  400. @Interested

    Did you guys sign a pact with each investor to split any ‘profits’ you made? Did you also sign a pact to share any losses evenly? Did you sign a pact with the others that if you got back more than you put in, you would share it with the others that got ‘soaked’? If not why are you surprised or upset that some got away with more than they put in?

    The scheme was the ultimate in human greed, get rich quickly.So Why do you believe others acting selfishly is not to be expected?

  401. @Nocotec

    All I saying is that those who got back should hold their corners and shut up and stop friggin around other people that were not so fortunate…..

    BTW some Bernie Madoff investors who got back are now subject to CLAWBACK in the States….we need proper jurisdiction so that greed is even ocassionally kept in check….

  402. Why has the Russian mafia side of the story been avoided by the Gleaner.The British Parliament says that Istrokapital a company controlled by the Russian underworld is in financial bed with Missick. Missick is in financial bed with David. The Americans seem to be comfortable with alien smuggling in the Caribbean once it relates to white women not black men. David Smith ,a modern white slaver at a Ponzi Schemes’ expense., was flying Russian girls from Jamaica to Turks To Panama to the US. Smith was bigger than Madoff, only nobody knows or seems to care.

  403. Fighting for the majority wishes of the Turks and Caicos people.

    http://www.suntci.com/index.php?p=story&id=155

  404. David smith’s “freind” pulling all the last minute stops.

    http://www.suntci.com/index.php?p=story&id=154

  405. “Rest assured that this move is in the best interest of democracy in our country as it is my view that anyone who hopes to govern this land should first face the people in an election campaign and seek and receive their mandate to govern.”

    http://www.suntci.com/index.php?p=story&id=154

    Long before seking political spoils and mandate etc. one should first seek to be honest before presenting oneself to the people.

  406. Americans don’t play cricket. hahahahahahaaaa

  407. This is the first time in history that a ponzi scheme has been able to participate in international affairs.

  408. David Smith has prevented many from ever enjoying cricket again.

  409. Jay, assuming that the report is accurate, the only consistency with this guy is that he elects to be vague in all his statements. In as much as I have heard him described as a christian, he sure is shady. Let’s just call him shady christian.

    He worries that his children are being teased at school while some families can’t send t heir children to school.

    His assets are scattered around the world? Should that be interpreted as his personal assets or the assets of OLINT? And since a liquidator has been appointed, why isn’t he forthcoming with the location of these assets? Why does he still find it nessary to hide our money?

    Ok, so he hasn’t gone before the court as yet…the implication is that when he goes before the court he will come clean and all will be well….right?

    I have listened to the Duke of Earl before and I have no reason to doubt that this story is accurate. But did the Duke attempt to question the TCI FCU? I am sure that Detective William Buillard would be happy to tell the Duke that David Smith is full of $#!+.

    He will not be cleared by the authorities in the TCI. In fact, they are looking into charging him with twelve (12) more counts of fraud, theft, money laundering and uttering forged documents.

    According to PWC (can’t mention the company’s officer name here) they have been looking into the assets of Olint TCI and TCI FX as agents of the court for sometime now. From all the evidence they have seen, David Smith was certainly running a ponzi. They have been able to uncover very little trading activity in any OLINT account.

    Well, one can argue that he was trading the money he has “scattered” around the world. Well possibly so but until we know where the money is, and in whose name it is (probably Martinez’s) we can only assume that it is more bull $#!+.

    On the other hand, if David Smith is going to “fulfill his obligation” why would he be scared for the safety of his family?

    Let’s just say that I owe you ten dollars. Then I call you up and say,hey, here is your ten dollars. And you say, thank you, that’s so sweet of you. Why would I then be afraid for the safety of my family?

    I think here that the hint is in “he fully intends on making good on all his obligations to investors of Olint”. I have seen this line before..I think it was in one of his vague statements to investors. He never says that he will pay people what he owes them. He never says how, or when. Just that if given the opportunity (condition precedent) that he will make good on his obligation to investors (or words to that effect).

    So what does David Smith think is his obligation to investors? Maybe he thinks that his obligation is to tell investors thanks for being fools and giving him all their hard earned money. maybe he thinks that his “obligation” is to say sorry. Maybe he thinks it is to move to Belize (since they should be expecting he would run anyway).

    And the plane. Who sold it? Where is the money? I haven’t gone shopping for a plane lately but I would assume that one is worth more than 10 milion or so (in miny condition?).

    And what of the line that his family is taking care of him? From what I heard, his family are middle class (or were before he started swindling people). So whose money are they using to take care of him? Yeah right….If I were a gambling man, I would bet that the money being spent is yours and mine….Just put the money in your momma’s name and momma will take care of you forthe rest of your life. Drug dealers do it in the US all the time….But, in the US, the momma usually gets caught for tax evasion…

    Are the funds liquidated and under a mattress in his mom’s house? Will we ever know?

  410. David Smith:

    So your kids are being teased in school? Well, were you teased in school? Probably not because from what I Heard, youor mother and father were good decent contributing members of society.

    So use this as a teaching tool for your kids. If you become a thief, and you steal hundreds of millions of dollars, and even after you are arrested and charged, you refuse to give up the money, while your kids friends (some of whose parents invested in you) are going to school hungry, and some of their parents are sick and can’t go to the doctor, your kids are going to to be teased in school.

    I take it you are still hoping that they will not find your assets (our money) you scattered all around the world…well you thiefing son of a &!+(#, think again!

  411. This page is slowing down, so I am suggesting that conversation regarding the latest developments on Olint be moved to :

    https://investforlife.wordpress.com/2009/06/12/david-smith-may-seek-exile-fears-for-his-safety/

  412. TO David Smith

    Your kids are being teased at school—— Your kids will be forever known as the children whose father and mother swingled people out of their money. While your children are in school please remember those parents whose children are home, some hungry and some homeless because of your dishonessty—-

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