David Smith withdraws $20m from local accounts

The Sunday herald of November 22, 2009 reported that David Smith had removed $20m from a local financial institutions, while not taking the institutions involved.

There has been no freeze on his local accounts despite the fact that he ran and ponzi and stole millions of dollars, as local Olint investors have failed to take any action to ensure that the fleecing does not continue.
We wait to see if more funds held locally would be moved as the receiver tries to close in on all the loot that may have been stashed away.

http://www.sunheraldja.com/2009/11/fsc-alert-about-olint/

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484 Responses

  1. INFORMATION MINISTER Daryl Vaz says the Government is now faced with an unbudgeted payment to the Ezroy Millwood-led National Transport Co-operative Society (NTCS).

    The cash-strapped Jamaica Labour Party administration was yesterday dealt a severe blow by the United Kingdom-based Privy Council’s ruling in favour of the NTCS following a bitter arbitration dispute.

    The NTCS is likely to be awarded more than $1 billion plus interest after it won its appeal at the Privy Council against the Government.

    Vaz told The Gleaner yesterday that the Attorney General’s Department was now reviewing the Privy Council’s ruling.

    He described the arrange-ment between the previous People’s National Party government and the NTCS as a bad decision.

    From: Daryl Vaz shalimar@kasnet.com
    Wed 7/6/2007 5:05 PM
    To: David Smith
    Cc: Wayne Doope

    Further to meeting last night, I need the following:-

    1) On announcement, need the balance for party central

    2) Complete breakdown of candidate support list and amounts proposed

    3) Helicopter (estimated to be US$15,000 to 20,000

    4) Requesting US$50,000 for Portland East and West and reminding you to speak to man in Negril in relation to information regarding candidate support and possible meeting.

    Once again, thanks again for everything and look forward to hearing from you on the above-mentioned matters.

    http://www.jamaica-gleaner.com/gleaner/20091127/lead/lead1.html

  2. “Local” Olint investors as well as Olint investors overseas have tried to take action against Olint in Jamaica.

    Reports were made to the “local” police, lawsuits were filed, and injunctions were sought.

    The thread should read:

    In spite of many efforts by local Olint investors to get action taken against Olint in Jamaica, the Jamaican authorities have blocked every effort to get at David Smith and Olint.

    The Police has refused to open an investigation even after receiving hundreds of complaints from local olint investors. Bloggers, believed to be agents of the government have stated that it is not necessary to take action against Olint because he is already arrested and charged in the TCI.

    There you go Jay. A little truth won’t hurt you that much.

  3. Jay:

    There is more money in Jamaica.

    Trying again to get an injunction against Olint in Jamaica’s courts. Legal action in Cayman, Belize and Panama too.

    My money is on no success in Jamaica again…..

    Let’s see what happens eh?

  4. Swathes of Deacon’s dream team ‘extradicted’ to the West….Remember the man in Negril!

    http://www.jamaica-gleaner.com/gleaner/20091127/news/news1.html

    And I suppose congrats are in order for Gifford…Chi Ching!

  5. Samuels Brown, Henlin, Lieba from the mighty Dunn Cox?

    Smithy, how come Huntley Watson never made the shortlist?

  6. Working against CAP is its 100 per cent ownership by Government, which three ratings agencies have placed on watch, in anticipation of a debt default.

    ????

    http://www.jamaica-gleaner.com/gleaner/20091127/business/business4.html

    Matress?

  7. David Smith draws cash out of Jamaica? Does he have some insider information? Is he connected to those behind the scenes?

    Is your money safe? sure?

    Chancellor Alistair Darling will say in his pre-Budget report that the economy performed worse in 2009 than he first predicted, Treasury sources have said.

    http://news.bbc.co.uk/1/hi/business/8382604.stm

  8. Is your money safe?

    Minister of Finance and the Public Service Audley Shaw last night declared that the downgrade of Jamaica by international rating agency Standard and Poor’s (S&P) was hasty and unwarranted.

    http://www.jamaica-gleaner.com/gleaner/20091103/lead/lead6.html

  9. Hasty and Unwarranted?

    REALLY?

  10. Audley Shaw fitzalbert_2@yahoo.com
    Sat 11/11/2006 11:01 AM
    To: David Smith

    It was a pleasure meeting you and your dear wife. I’m glad that you shared your knowledge and concerns with me. A friend of mine is keen on investing and would like to talk with you or better yet, he wants to meet with you if possible. He asked me to fly over with him to see you when it is convenient to you. Please let me know.

    Regarding the Australian model of fx trading to help with public debt, is there any published information on it? Please let me know. I’d really like to learn more about it.

    Thanks again for our meeting as I now have a better grasp of the issues.

    I look forward to hearing from you.

    Kindest regards and compliments

    Audley Shaw

    Is your money safe?

    http://www.sunheraldja.com/

  11. Hey Wantmymoney:

    David Smith will be arrested again….probably two weeks before the next court date…..

    With every claim filed by someone willing to cooperate against Olint Tci, charges are written up.

    The liquidator passes on the info to the police and together they decide when to make the arrest. There is still a little short of 13 million left so it will be sometime before this thing concludes.

    Does anyone think that the liquidator will leave that much money on the table?

    And who is getting a cut to keep this thing going? Liquidator? Police? Judge? Polititian? Who knows?

  12. What did President Bush say? “Fool me once shame…….. on you, fool me – you can’t get fooled again…..”

  13. Some Olint investors seem to believe that David will come clean and tell them where he has the “money” stashed or whom he gave the money to.

    This will not happen, as there is no way that am man who told so a lie to fleece investors is going to confess to his crimes.
    His wife is expecting and hence he needs money to ensure that he prepares the best prenatal care and setup for his new child.

    In a ponzi the majority of the money is lost, gone, disappears.
    The longer the receiver works the more of what left will also disappear, meaning that the very little will be soon left of the Olint money and investors may end up owing the receiver.

  14. …………..may end up owing the receiver.

    Other investors have taken legal action against Olint.

    There are lawsuits filed in Broward and Dade counties in Florida, King county in NY, in courts in St. Lucia, St. Kitts and Grenada. All these cases have either had a first hearing or are scheduled to be heard in the near future.

    In Jamaica however, the government (which is seeking bailout from international agencies) has blocked every attempt at legal action against Olint.

  15. Jay, do you want me to write the rest of the article?

  16. Passengers for PANAMA

    Jacob N. Martinez
    DOB – March 4, 1981
    Passport No. 305335879

    Issac J. Martinez
    DOB -June 3, 1983
    Passport No 10420063

    David Andrew Smith
    DOB April 15, 1969
    Passport No. A2656534

    Destination – panama City, preferably the private airport.

  17. floridian, on May 28th, 2009 at 1:18 pm Said:

    Tafari

    Good luck all the best. i hope you don’t see David Smith face to face if that means no one will get any money. Better me see him face to face instead. That can be anytime soon. I’m sure he’s looking forward to it.
    /////////////////

    Floridian:

    Was that you in the brown sports-coat? Did you know that the police was watching?

  18. From: Arthur Jones arthurwj2003@yahoo.com
    Sun 8/26/2007 7:01 PM
    To: David Smith

    A great definition…

    The following is the winning entry from an annual contest calling for the most appropriate definition of a contemporary term. This year’s contemporary term is:

    Political Correctness.

    “Political Correctness is a doctrine fostered by a delusional minority and by the mainstream media, which holds forth the proposition that it is entirely possible to pick up a turd by the clean end.”

    Bailed David Smith…Why? To secure ‘investment’ made?

    Arthur Jones
    BSc. MICE. CEng
    Director
    Norstar Group Ltd
    Providenciales
    Turks and Caicos Islands
    BWI
    Tel: 649-941-3600
    Cell: 649-231-4640
    Fax: 649-941-3608

  19. Happy Thanksgiving Norstar Group..

    From the families of the “Victims???”

  20. The IMF is watching…..

    The JLP thinks that they can keep the Olint money they received hush-hush – “keep the issue out of the courts and it is all rumors. They can’t make a decision based on rumors”.

    Is that so? Do you think that the IMF is unaware of your efforts to cover this thing with yuh dutty cloth?

    LMAO here guys.

    What do you think about that Jay? The big man says it is all a rumor.

  21. Jay

    expect niney and/or L&LL soon.

  22. November 3 2009 – Gleaner
    http://www.jamaica-gleaner.com/gleaner/20091103/lead/lead6.html

    Last night, Shaw stressed that the Government had moved quickly to appoint Dr Wesley Hughes, financial secretary, to lead the negotiations with the IMF.

    “Hughes, who is a former deputy governor of the BOJ and who served for 14 years as director general of the Planning Institute of Jamaica, is no stranger to IMF negotiations,” stated a release from the finance ministry. “He was an integral part of the negotiating team during the last IMF agreement between Jamaica and the IMF during the 1990s.”

    November 27th 2009 – Observer
    http://www.jamaicaobserver.com/magazines/Business/html/20091126T190000-0500_164570_OBS_IS_IT_REALLY_THE_INTEREST_RATES__MINISTER_.asp

    Cannot be. Whose policies is it that drove those interest rates? Which central bank was it that set the Repo rates, and which Government was it that set the Treasury Bill rates that caused interest rates to be so high? And I hope they are asking him those questions, even as I speak now,” Shaw said.

    However, Dr Wesley Hughes, financial secretary in the Ministry of Finance, who spoke after Shaw left, pointed out without much fanfare, that the focus on interest rates may be limited in scope. Dr Hughes, who has served as Financial Secretary for both administrations, was described as ‘a-political’, by Pro Vice-Chancellor of the University of the West Indies, Professor Alvin Wint, who moderated the seminar.
    Dr Hughes steered clear of commenting on the commission of enquiry. He, however, said that Jamaica’s growth in the past was not directly tied to interest rates.

    “I’m sorry the minister isn’t here but he would be very disappointed to learn that growth in Jamaica has very little to do with domestic interest rates because the main period of growth in our economy was driven by external capital inflows,” Dr Hughes told the gathering.

    Jamaicans..huh..go LOOK bout your money. If no Matress, Divan then Dresser or what not. Travel Buddies of David Smith?

  23. Jay said:

    His wife is expecting and hence he needs money to ensure that he prepares the best prenatal care and setup for his new child.
    ////

    Whappen Jay? The man tell yuh so?

  24. nocotec, on July 16th, 2009 at 6:29 am Said:

    @Tafari

    I thought about now you would be on the blog apologizing… aah not really

    I expect you to do the usual stuff… about now your nick would disappear and pretty soon a new nick would appear

    I see the info you have has evolved… now your info is that government ministers intervened with the police… Are you sure of your timeline? Was it ministers in the PNP gov or was it ministers in the JLP gov? Why don’t you just put all your info on the table so we can have you pinned down to one position?
    /////////////////
    Trying to know what I know now everyone knows……

    If you look close enough, you could see grass grow Nocotec.

    Which party Nocotec? Hey DS had billions……it been done then it is being done now.

    Does corruption in Jamaica have a political affiliation?

  25. Only had to change nick and IP when you blocked me Nocotec.

  26. Who said this?

    /////////////////////////////

    3. It is probably unlikely that criminal charges will be filed in JA while the case in TCI is pending or if he is convicted. They would have to wait until after his trial to get him back to JA and if convicted, after he serves his sentence. With the inefficiencies in the JA system, even if he is acquitted, unless he returned to JA there is very little likelihood of him being charged and even if he returned he might still not be charged… unless they believed they had evidence TCI did not… and even then ………………

    //////////////////

  27. Who said this?

    /////////////////////////////

    3. It is probably unlikely that criminal charges will be filed in JA while the case in TCI is pending or if he is convicted. They would have to wait until after his trial to get him back to JA and if convicted, after he serves his sentence. With the inefficiencies in the JA system, even if he is acquitted, unless he returned to JA there is very little likelihood of him being charged and even if he returned he might still not be charged… unless they believed they had evidence TCI did not… and even then ………………

    ////////////////////

    Well? And even then what?

  28. Napoleon, on September 6th, 2009 at 11:35 am Said:

    Investforlife writes:

    The option of filing a simple complaint with the particulars with the fraud squad in Jamaica, the FBI in the USA or local security forces in the respective territory is still and option………

    More than two hundred complaints have been made to the fraud squad in Jamaica. To date, Jamaica reportedly does NOT have an open criminal investigation into Olint and David Smith. Why is that? And why is it called the “fraud” squad? Is that where Jamaica manufactures its fraud?

    Jay:

    Napoleon (Tafari Francis) was on to something. To date, still not an open investigation into Olint in Jamaica.

    Can someone in Jamaica please tell me what the fraud squad does? Are these the goons that the reggae song refers to?

    Police and thieves, in the street………..

  29. And who said this?

    Have they started an investigation for fraud committed against their residents? Have they prepared an extradition request for DS? If not, why not? Is it maybe because it makes no sense to bring charges against an individual who is facing criminal charges in another country where if he is convicted he will have to serve out his time in prison before he can be extradited….

    /////

    This is by far the most asinine argument I ever heard about ANYTHING..EVER. This has to be worse than 10% per month, right Jay?

    But I understand now why anyone would so vigorously advocate against any attempt to investigate DS in Jamaica.

    To many cats in the bag.

  30. That should be….too many cats in the bag.

  31. Merry Christmas Mr. Smith and family!

  32. The blog is like therapy for floridian and Tafari. Problem is they think if they repeat the same thing over and over it will make it true. Tafari does not like floridian but he has the same beliefs that floridian does and repeats them. Floridian has some background understanding of JA politics. Tafari a non Jcan has no clue about internal JA matters but spouts about it anyway.

    He does not understand that floridian and his prof and doc pals are die hard comrades and they see the world through that microscope. It soothes their mind for them to believe their problems were caused by labourites.

    Of course as before this will make floridian and others believe I am a labourite. But if you read my posts you will know if it is not logical I am not into it… Being a die hard comrade or labourite is illogical. It simply closes a section of your brain to rational reasoning… how logical can it be to be a die hard supporter of one party… so if your party’s leadership changes and has total morons and the other party changes to smart people you will still be a die hard supporter… how idiotic is that concept…

    I guess because it was Seaga that did the smart thing with C+… it did not make sense for comrades to imitate it 🙂 Seaga brought a court case to have C+ forced by the court into involuntary liquidation (bankruptcy) since it owed more than it had and was unable to meets it obligations to investors. This led to the appointment of a liquidator and the subsequent ability to go after assets of CH such as his home etc…

    Excuse if I am wrong but did any of the ‘smart’ investors and lawyers do the dame thing with Olint in JA? Would such a move not have allowed them to freeze and seize the assets that DS is retrieving?

  33. Of the mark Noco. But the good news is you can try again.

  34. Looks like someone checked the IP address I listed a few days ago. The word for that is ‘tone’

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

  35. Bwoy Nonco, I think you and I know that you may have posted that last post out ofa little bit of frustration.

    Politics? Sure I could explain every single bit better than all at Belmont or Old hope Road….yes ALL.

    Not least because I always make sure I have superior information. Even when some seek of me I watch who what where clear as day. But in the OLINT/David Smith matter and in any ‘politics’ E.g. Corporate, National, Personal etc. YOU should know that what you show you know and can document is only a small fraction in Public.

    We not going break down your comment piece by piece right? Nor am I going to show higher levels of prowess and explain every single appointment made in history by PNP or JLP and the family trees and how everything connects and the check numbers and who got what when and where and full anthropological explanations.

    I will ask you in front of all the bloggers and with an open mind await and honest answer:

    If a teef steal from me and then run under the frock of politician (of any hue), or Obama, Merkel, Brown or Mugabe or Church, Cartel….

    You think that matter Mi?

  36. Pals?…fren? Noco mi nuh carry dem ting deh??? Come on man Nonco I believe you can do better. You just choose to be lazy right now.

  37. I had said I would not break it down piece by piece but in the interest of young immpressional Jamaicans…etc

    @ Nonco (said)

    “Excuse if I am wrong but did any of the ’smart’ investors and lawyers do the dame thing with Olint in JA? Would such a move not have allowed them to freeze and seize the assets that DS is retrieving?”

    You are excused Nocotec for Justice Donald McIntosh ‘found’ no reason to grant a Mareva Injuction against Smith/OLINT. Review of the phone and ‘other’ electronic communications from persons involved in that case at the time is not good news for Jamaica either. But those issues are only simmering for the time being. Nice and warm for when ‘dinner’ is to be served.

  38. @ Nocotec

    “Seaga brought a court case to have C+ forced by the court into involuntary liquidation (bankruptcy) since it owed more than it had and was unable to meets it obligations to investors.”

    Such a statement could be misleading. The NPL was not working on behalf of the corpus of Cash Plus ‘investors’ but rather its own interests. i.e. They were not getting the sponsorship money they needed.

    If Seaga and/or the powers at be at NPL were acting for all investors that would seem strange. For reasons (I shall not divulge here) it would make one wonder how to reconcile inaction to date in other ‘scams’ from certain corners.

    “…party’s leadership changes and has total morons” the statement here Nocotec speaks volumes. By saying “changes” it shows one aspect of your thinking that I believe (with all due respect) is flawed.

    (license to oversimplify) please induge me:

    For a Moron to exist in Jamaican Leadership there should be something we can define as a “non-moron.”

    Serious Nonco (no joke really) who do you propose as the non-moron?

  39. You get me thinking about ‘morons’

    When such a term is near synonymous with citizen you know the country is in trouble. Let us leave Shaw and his recommendations to people to join OLINT.

    FINSAC

    When Finsac was actually taking place (Public made aware of financial meltdown). no political backers (Read $$$) came to rescue the majority of unconnected borrowers.

    Now we have an Enquiry. So for years and years citizens who have waited have now got a chance to be properly heard.

    O.K So money is ‘found’ to set up this thing. Good.

    On the Commission you put Charles Ross? Why not put Lewfam? Yvonne Coke? Wealthbuilder?

    After years the victims (real or percieved) get a thing started (and it costs good money) and the credibility of the thing (with Charles Ross as a commissioner) is thrown out the window??

    How do the people who have their money with Weir feel when they see that? Olint/Ross/Sterling is so well document you would not believe..trust mi.

    O.K

    It (The Commission) hobbles along and then while the pundits and hacks are enthralled in exhuberance (Modern Jamaican Synonyn for ‘loyal and excused’) ..we then see…

    An attorney David Wong Ken given the opportunity of a lifetime to put questions to Omar Davies in a public forum! Note: Nonco you know that who answers floridian in a public forum in the ‘burn’ seat!

    So while pondering how such good fortune has been bestowed on Mr Wong Ken (bordering on envy)

    We then have to note that this person may well be a material beneficiary of contracts entered into with C+ while dutty trousers sufferer can’t eat a dinner.

    Well brief and rushed …not funny at all…but that’s ‘morons’ for you Nonco.

  40. So OLINT sits up on the Commission, and Cash Plus presents argument from the floor…to Finsac who sits in the dock.

    And a mother has tears in her eyes tonight as the gunshots them bark and trying to keep the baby quiet and not one tin a formula in har yard TONIGHT.

    Nonco you bring talk of politics to me? Man get a hold of your shocking self.

    One persons ‘Masters’ are the footstool of others. I burst that bubble without apology.

  41. Yes Charles Ross sits atop bouyed be his own concience…

    Noco Holidays but let us go to the bits and bytes…time to work….

    BTW As I have called for time and again…Jay shut down the blog.

  42. Nonco, How could I resist.

    ANY JAMAICAN POLITICIAN, LEADER. MP, SENATOR HOLDER OF HIGH OFFICE (POLITICAL OR NOT) CAN EASILY MAKE A PUBLIC ANNOUNCEMENT EXPLAINING ANY REAL OR PERCIEVED WORKING RELATIONSHIP WITH DAVID SMITH.

    THEY ARE FREE TO PUBLICLY DENOUNCE THE ACTIONS OF DAVID SMITH. SIGNED WRITTEN STATEMENTS CONDEMING THE CATASTROPHE THAT HAS BEEN METTED OUT TO THOUSANDS OF JAMAICAN CITIZENS WOULD BE WELCOMED AND INSPIRE CONFIDENCE3 IN THE JAMAICAN CITIZENRY THAT INTERESTS AND WELL BEING ARE IN THE MOST CAPABLE HANDS.

    Can it not be done? Where there is a will there is a way.

  43. qui tacet consentire videtur

    Regrettably, when it comes to the realm of politics, far too often is consent assumed when no answer or uproar comes forth. For example, if a politician wishes to increase our taxes or create some sort of new spending program, what besides the votes of his fellow representatives can stop him or her? How about the loud outrage of his or her constituents! If the public remains silent, far too often the politician takes that to mean that the people either support the proposal, or simply don’t care. I suppose that such an attitude is one of the defining marks of a politician versus a statesman. A politician does not really seek to represent any particular ideology or particular constituents. Rather, he or she looks to maximize his or her own wealth or fame, and to aid his or her friends and supporters with kickbacks, pet projects, and the like. Ultimately, principles take a back seat to power. Therefore, only the threat of unpopularity, the loss of donors, and the potential to be removed from office motivate the politician.

    http://virginiaconservative.wordpress.com/2009/06/23/silence-means-consent/

  44. brucegolding@yahoo.com
    Tue 11/28/2006 7:40 AM

    To: David Smith

    David,

    I must express our thanks for your support in our efforts, especially toward the staging of our recent conference. It was a tremendous success and has significantly boosted our campaign. Your assistance went a far way in making that possible……

    Kindest regards,

    Bruce Golding.

  45. Audley Shaw fitzalbert_2@yahoo.com
    Sat 11/11/2006 11:01 AM

    To David Smith

    …..

    Thanks again for our meeting…

    Kindest Regards and compliments

    Audley Shaw

  46. Daryl Vaz shalimar@kasnet.com
    Wed 11/12/2006

    To: David Smith

    D:

    Once again, thanks for your help without you, conference would not have been the success it was……

    DAryl.

  47. Charlene Robertson cer@mail.infochan.com
    Wed 9/20/2006 9:18 PM

    To: David Smith

    It was a pleasure meeting with you. I look forward to returning with my family for a weekend. The following is my banking information…….

    Your support will make a meaningful difference to the Jamaica Labour patry’s success.

    Regards,

    James

  48. …Look forward to seeing you in Jamaica early in the New Year and remember that my house in portland is yours whenever you wish to visit http://www.villapointofview.com You can take a look and maybe it will entice you to come sooner…..

    “A politician does not really seek to represent any particular ideology or particular constituents. Rather, he or she looks to maximize his or her own wealth or fame, and to aid his or her friends and supporters with kickbacks, pet projects, and the like. Ultimately, principles take a back seat to power. Therefore, only the threat of unpopularity, the loss of donors, and the potential to be removed from office motivate the politician.”

    David,

    Heard you were not feeling well. Hope you feeling has passed, …our situation is as follows…

    (you can get better when your usefulness has expired…)

  49. Nonco?

    Let Deacon relay some facts to you on this one.

    One day Deacon come visit a man and that man was not a politician. So Deacon (as expected) a bawl seh im nuh feel right…im sick.

    Well the man just draw from him pocket an give deacon one a di fancy foriegn Phensic dem….

    An Deacon look close pon it yu see….tek him time study the tablet dem…yes man

    Because deacon knew he had been up to no good!

    But deacon decide on him own fi teck di medicine….hey hey…bredda snake

    Deacon seh im feel betta….right away…

    Jack Mandora…mi nuh choose none.

  50. Go dung a Dr. Menzies fi tell you bout da riddle deh Deacon.

  51. Oh Bredda anansi if only you would have asked your most experienced bredda Tiger who well train…

    him an bredda snake might have told you about a thing whe granny used to use called, bentonite clay, soursop leaf an ting…

  52. Early morn…Dum dum..Dum Dum ….dum Dum…

    Deacon? them play kette drum in a your church?..Dum Dum…Dum Dum …Dum Dum…..Dum Dum…

    Dum Dum…ina you friend denm own? …Dum Dum….Dum Dum…Dum Dum….Duwm Duwm…

    you think you’re in ….dum dum…dum dum..dum dum …living een….dum dum …dum dum… dum dum…Oh time wil ….dum dum …dum dum …dum dum…dum dum…dum dum…dum dum…

    you look well in TCIWay though…nice Deacon..dum dum…dum dum…dum dum…dum dum…..

    dum dum,,,dum dum ,,….

  53. It is happening. Nocotec is going off the reservation…..

  54. @floridian

    Here is a life clue… when people who are demonstrated idiots start agreeing with you… you should do a reality check. if I was posting and Tafari started agreeing with me I would get a check for dementia.

    You keep alluding to how much smarter than DS you are… well why the hell if you are smarter than him, did you give him your money when he was a crook running a ponzi scheme. This is like your soccer team just getting beat 5 love and you are arguing with the other teams fans about how your team is better than their team.

    To respond to some of your recent posts… calling many investors stupid and greedy is not like blaming the victim. Olint investors for the main part were not innocent victims, most of them were facilitators of their own scam. In the examples like Madoff for the most part those were innocent victims who failed to do proper research. The regulator let them down by failing to discover the scam.

    In the case of Olint, these are folks that cussed the regulator and numerous others that warned of the scam. For the most part these investors knowingly invested in a scam that they had ample and numerous warnings about. They chose to be not only greedy but stupid… stupid to believe that DS was more to be believed than the regulator and that the regulator and others were just bad minded.

    DS was a demi-god and those warning were bad minded and grudgeful. Most of Olint’s investors joined after there had been repeated public warnings that this was a scam… in fact these warnings only served to attract more investors.

    • It is not nice to broad brush Olint investors as stupid and greedy and even not doing a little research of their own. Even within this forum, if one is gullible and isn’t careful enough, one could be easily mislead by the myriad of opinions that cannot be substantiated or confirmed. The original list of investors in Olint had names from both parties for instance and got filtered somehow to the point where the villains appear to be only from the JLP. Be careful, this website is looking more like the West end of Negril just before the sun goes down.

      As for Bryan Wynter and the FSC spending so much of the tax payers money to warn taxpayers not to invest in alternate investment scheme, some of those efforts should have been directed at ensuring that the government put the necessary legislation in place to protect the tax payers in the eventual collapse of any scheme be it ponzi or otherwise. But no, they checked with the boys at the main financial institutions and were assured that there will be no fall out, so nothing else was done to protect the stability of the Jamaican economy. If David Smith investors alone deposited US$2.1 billion (correct me if I am wrong), and that presumably was the amount of capital flight from Jamaica via DS, what moral right does the current BOJ governor has in presiding over the powerhouse that controls the nations monetary policies? But then, maybe he is the right person to correct the folly of yesteryears at the FSC.

  55. Hey Nocotec:

    The irony here is that I agree with you about most things.

    1. DS was running a ponzi – I concur
    2. Most of the money is gone – I concur
    3. Floridian needs to do a reality check – I concur
    4. No action will be taken against DS in Jamaica – I concur
    5. I do not “like” Floridian – I concur
    6. It was stupid to invest in Olint – I concur

    Should I go on?

    You see lecturer, that is not the problem. Where we part ways is on your motive. I agree with you on almost everything dude. Your problem is that I question your motive and that I won’t quit until you are exposed for the fraud that you are.

    Any one who questions your motive is called crazy…and oh, you go back to the 10% per month.

    Guess you need to have a reality check.

  56. Nocotec:

    It seems that this is really getting to you.

    But you invested nothing, you lost nothing, you are smarter than everyone you ever met, you are God of the blog, yet your feathers get so plucked by idiots like Floridian and Tafari.

    How is that possible?

    Answer? You are a fraud.

  57. @floridian

    Now everyone should make their own decisions and use their own methods to decide on their choice when hiring professional help. I do not pretend to tell you or others how to make that decision.

    In my own case, if I am hiring say an electrician to do some wiring on my house… if I heard he wire his house and it had an electrical fire and burned down… he is not getting my money. If he was writing in the press about how great the system he used was, he is not getting my money…

    If he lost his money with a similar method before he gets my money he has to show me how successful he has been at getting back his money. And one of my considerations will not be because we have the same political beliefs.

    Now this is obviously not legal advice and you and everyone should seek advice from your own legal adviser… You have mentioned before that a Mareva injunction was sought and denied in JA. A Mareva injunction seeks to impose a temporary freeze on the worldwide assets of the other party pending the final outcome of the case.

    This can pretty much destroy the other party before trial and determination of culpability or guilt…For a judge to grant such an injunction he will have to be virtually convinced that the other party will lose at trial… in a sense it is akin to him deciding on guilt before the trial. Judges will not routinely do this.

    You apparently chose to pursue individual lawsuits against Olint, DS and others. Did you ask the question about what happens if Olint is placed into or is in liquidation who will get any funds that belong to Olint or was misappropriated from Olint? Will the liquidator not have claim to these funds? If so, does it make sense to file individual lawsuits against a party in liquidation or bankruptcy?

    An individual suit seeks recovery for the individuals filing the suit. A bankruptcy or liquidation seeks recovery for all creditors (investors) of Olint. In Seaga’s case he sought on behalf of NPL to have C+ liquidated.

    Filing a lawsuit seeking to have Olint placed into forced liquidation would benefit all investors, not just those filing the suit. This has advantages and is probably easier though it does not automatically mean great results for investors as the liquidator will be paid before investors, if any funds are recovered. This has a disadvantage for lawyers filing suit since the liquidator will get much of the money and not the attorneys.

    Once the company is forced into liquidation the liquidator becomes Olint… he can then move to freeze and recover any money that DS or others may have misappropriated from Olint. A judge would be more likely to grant a Mareva injunction in that case.

    There is no need in this case to prove that DS stole money from the investor. All that is needed is that Olint owes money to creditors (investors) and is unable to repay it. Olint (now the liquidator) can move to recover any money that belongs to it… if DS or others took the money improperly Olint (the liquidator) can demand it back. All that is needed is to show the bankruptcy judge that the money belonged to Olint and was taken improperly.

    You chose a different route, I suppose maybe to show how much smarter you are than the crook who conned you out of your money.

  58. @floridian said-

    “A politician does not really seek to represent any particular ideology or particular constituents. Rather, he or she looks to maximize his or her own wealth or fame, and to aid his or her friends and supporters with kickbacks, pet projects, and the like. Ultimately, principles take a back seat to power. Therefore, only the threat of unpopularity, the loss of donors, and the potential to be removed from office motivate the politician.”
    ———————————————————————————-

    Well Noco, I may be an idiot but I have to agree with floridian here. Absolutely spot on post. Couldn’t agree more.
    Peace

  59. @Tafari

    I see you don’t get it… did you notice that you and floridian are mostly ignored. The fact that floridain has chosen to take concrete action to recover his money is to be commended… the methods he is using is up to him but does seem curiously questionable in its chances for success.

    I generally only respond to you or floridian to make a greater point. You believe if you repeat nonsense often enough it will make it true. Floridian keeps repeating that DS got labourites elected and that DS paid them off and that I suppose is the source of his loss…

    But if you look at the emails he keeps posting and DS affidavit to the court, what is evident is that DS was trying to use Olint’s money to get the FSC to legalize Olint. Typical politicians probably promised him they would… but if you look at the evidence… typical politicians fooled him up, got the donations and then did nothing.

    I would argue that the money spent on the politicians was maybe the only money DS spent that was according to the wishes of investors. Investors wanted Olint left alone and that money was meant to achieve that.

    The fact that DS was not prosecuted and there was no follow up was not due to corruption and payoffs but to the fact that people who should have made the decision to move ahead were investors. In other words like you and floriidian they were also believers in Olint.

  60. Nonco

    well why the hell if you are smarter than him, did you give him your money when he was a crook running a ponzi scheme.

    Maybe a trap was set for someone else? Nonco I have not even read the rest of you comment but sense that your usual calm exterior showing some signs of wear. Nonco this is not like you has something changed?

  61. @RedP

    Contrary to what some believe I do not think everyone that invested in Olint was just being stupid, just most 😉

    Of all the numerous Olint supporters that blogged I have the most respect for you. I did not agree with you and we do not agree about the religion thing. However you can tell much by the works of a person.

    I disagreed with your support of Olint and belief that forces were conspiring against Olint, DS and its investors… I also believe you erred and gave comfort to the enemy. But I do believe unlike many others though your efforts were misguided and wrong it was aimed done for the greater good.

    Your prayer bus though misguided was aimed at providing support and help for investors who sought comfort or help from it. You erred in thinking that there were forces aligned against DS and that DS was not the problem… but you sought to help others.

    I can disagree with you but still recognize that your motives are good. If you notice I have not aimed any really ‘harsh criticism’ at you personally 🙂 Just think you are misguided but that you are not a bad person or an idiot. This is contrary to some of the others that have blogged on here 🙂 .

  62. Nonco

    Mi deh a road but skim your comment. Don’t get knickers in a twist for as i am sure would agree the blog not going to help those who may need therapy.

    You raise some interesting points in that a discussion of them can help those here as I take them one by one. Clawback and so many other good things you have chosen not to mention but a close analysis of the ‘liquidation’ issues in a case like this are a good place to start.

    All discovery, complex litigation factors, motions,pleadings preliminary stipulation, procedural and legal posture…all them nice things there …but mi deh a road no disrespec. lata.

  63. Nonco

    People want bathe them want a shower…..wata inna the pipe?

  64. Nocotec said: I generally only respond to you or floridian to make a greater point.

    Laughable how this guy thinks he is above everyone.

    You poor poor man.

  65. Does this guy read his own posts?

    Dude you are a selfrighteous pompous idiot.

  66. Nocotec:

    Go out and play with the other kids…..

  67. @floridian

    As I said I respect the fact that you are one of the few persons that has sought to do something concrete about DS and Olint.

    However but that does not mean that you are doing everything perfect. Giving your money to DS was a bad decision, he conned you… Trying to get it back is the right thing and nothing to be ashamed of…

    However constantly trying to tell us how deacon not “too bright” wears thin … what does it say about you if you gave US hundreds of thousands to someone who is not too bright? Just go about the business of getting your money back…

    Your constant fascination with the JLP makes no sense… they were not in power when DS was doing his con… It is the same like you and your friends fascination with the extradition situation… while interesting in of itself… it has nothing to do with Olint… and what you or your friends failed to get is that the indictment period covers the periods when the PNP was in power…

    Tivoli does not make or produce the contraband… criminals are not about politics except in so far as it helps them in their enterprise… If you really knew how those guys operated and how the stuff was coming into the country and on what beach in whose constituency… you guys would not be all over that situation so much as it would be ensnaring or raising serious questions about some really big heroes in the party you support.

    It is not really complex… if there is collusion it is usually going to be with the forces that control power, not with those on the sidelines. This is the case with Olint and DS too… It is not the JLP that helped DS, it was the fact that so many people were like you and believed in him… many of the people who should have made these decisions were also investors.

  68. What you want me to say Nonco? Sorry that Bruce and the gang are not too bright? Were they thought of as such beforehand?

    If you seek an apologist for what is at best less than mediocracy you’re at the wrong doorstep.

    Look on the positive….Trinidad have water in the pipes.

  69. The drought, which is parching the Corporate Area, has started to affect several institutions …

    http://www.jamaica-gleaner.com/gleaner/20091128/lead/lead1.html

    Not everything you must take too literal Nonco…I will repeat he was fool to injest the tablet that brdda Tiger offered…play to win…

  70. @Tafari

    lol… let me give you some free therapy… I feel your pain… you are like a poor sap…. hates Jcans but got greedy and lost your money to a Jcan scammer. Talk about adding insult to injury.

    Your constant fascination with me and your feelings of inferiority around me is the kind of thing that often leads to ED. And ED will cause your problems to escalate… spouses may seek comfort elsewhere… so let me offer some free help 🙂

    Your problems arose because in your little corner of the world you like to pretend you are the big guy… all of a sudden here comes nocotec to show you up and reveal your inadequacies.

    This made you feel like nocotec is a bully. Therapy is in order here… Someone can only bully you in an environment where you are captive… if you are free not to be in the environment without any negative consequences, you cannot be bullied… a bully may exist at school or work, you have to go to school or work. At home, you have to go home etc.

    On the internet you do not have to participate on this blog and since there is no fear from personal interaction from other bloggers, you cannot be bullied. Your constant fear that I am bullying you and your use of terms like “God of the blog” shows serious underlying problems… I am all over your mind… again, this will lead to ED as you begin to worry why I am so much better than you.

    You think I am a know it all… and now a lecturer. This stems from your feelings of inferiority to me. In the realm of human knowledge, the blog has discussed less than a grain of sand on the beach of knowledge. The fact that in this realm I know more than you do feels to you like I know everything but I don’t… it only feels that way to you… again this fascination with me being better than you will lead to ED.

    This has led you to try and dissect everything I post and to try find out if I have any ulterior motives. You constantly have a need to make yourself match up against me tying to latch on to any morsel that will make you feel better.

    This is very unhealthy behavior… if not arrested you will continue to spiral downwards. Get some professional help as I am only able to help but so much in a forum like this.

  71. Nonco,

    What happened to the rational Nonco who never go into a schoolyard argument or low level logic?

    I wish I could wash this ‘New’ Nonco away and get back the old composed Nonco ..but water lockoff to R….ss.

  72. I’m better than you ou…na na na na na na….

    My ball is beter than yours ers…na na na na na na….

    My daddy is stronger than yours…..and so on and so on.

    This is one little man..

    The help you preach about? Look in the mirror…

    This is GREAT!

  73. Typical schoolyard crap….RedP, I’m your friend.. But I’m not his friend nor his.

    Let’s take our ball we are better than they are….Pathetic.

    Sadder even that he is so deluded he doesn’t even get it….Dude. Get help NOW!

  74. Hahahahahahhahahahhahahah you guys are killing me!!! hahahahhahahhahahhahaha Oh goodness!! hahahahah.

  75. RedP:

    You are not my friend because you are his friend…ha ha ha ha ha ha ha ha ….

  76. Remember the nerdy kid that everyone picked on in the schoolyard? he always had the new shoes, the new ball, and was always warning everyone – don’t do that I’m going to tell?

    Well he is all grown up now. He goes by the name Nocotec or something nerdy like that.

    Today you can find him investing in a blog to warn everyone thet they are going to get into trouble while still sporting the new shoes and superior attitude.

  77. Problems in Dubai. Wow. There are so many scams out there and even legitimate investments are in danger. I am now a little worried about my 401K.

    For those who believe in investing their hard earned money, the key is to be well diversified.

    I pity those who put all they had into Olint or Stanford or Madoff.

  78. Hey Nocotec:

    My wife just had a chuckle about you revealing my inadequacies……….She asks how did you know….

    Hey, on the question of inadequacies, are you gay Nocotec? You do come across nlike a little bitc#.

  79. Noco

    i asked you this sometime back but ask again now (context has changed obviously)

    As a great sage should people keep their funds in Jamaican soverign debt instruments or should they rest the money under matress for a while.

    With the Smith issue you speak a lot after the fact.

    Recall Noco there was a time someone said who where and what was involved with David Smith and a large contingent of sheep laughed….including yes…the big leader sheep.

    Dem quiet…work behind scenes now…

    You know they look like the penultamate set of fools….that is a small positive….for the biggest fools have and continue to hold the ultimate title…fool of fools

  80. The advisors have really been exposed as wanting. No lie in that.

    And they get big you know…

  81. money..

  82. Transcript from the House of Commons, Re: Monster and Corrupt Reference

    http://www.tcijournal.com/index.php?idsub=2119&id=8

  83. The rantings on the commentary page of the Sun this week are nothing short of hysteria. The writings are however, in common with the Sun\’s editor itself, (and that keeps your job Ms. Burke), but says nothing of your literary skills. I have witnessed the ramblings of your Editor in Chief six or seven weeks ago to this editorial, and I must say they will probably be looked upon as a literary masterpiece for years to come. (If you happen to be six or seven years old)

    http://www.tcijournal.com/index.php?idsub=2120&id=8

    One thing you can say for the Sun (in addition to being pro Deacon) is that they help Jamaica’s balance of payments position as CLOVIS cartoons are always there so that represents money coming into Jamaica to pay for them. Well unless of course….ah forget it….

  84. Disturbing News or is it ?

    US Coast Guard raids vessel in Kingston Harbour

    Is this a prelude to a Navy Seal launch into TG.

    http://www.radiojamaica.com/content/view/23218/26/

  85. Who is the owner of that fishing vessel?
    Well the lawyer its our famous Bert Samuels – anyone knows him.
    He represented one ponzi operator.

  86. A wonder if the boat under water restrictions…ehh Jay?

  87. Corruption trials a step closer

    CRIMINAL trials of corruption-accused public officials are a step closer following the appointment of a team of top-notch investigators.

    Prosecutor Helen Garlick – who has been sifting through the piles of material collected by the Commission of Inquiry – also revealed that some new lines of inquiry had been opened.

    The team has already forged links with US law enforcers, she said, as the probe reaches international proportions.

    http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=1740&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com

  88. “The previous Government’s policy of unrestricted spending and tax concessions was unsustainable.

    Mr Wetherell said an overhaul of the Customs Department – which is responsible for the collection of over 40 per cent of all TCI revenue – included close scrutiny of exemptions policy.

    http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=1742&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com

  89. “Dubai Safe from the Storm” read one headline. Just how wrong it proved to be.

    Others suggest the problem was and still is, a lack of transparency

    Government and business dealings here are done behind closed doors.

    Appointments to influential government or corporate positions are more about connections than qualifications.

    http://news.bbc.co.uk/1/hi/business/8382935.stm

  90. The city took a battering from the international media but rather than fighting back with facts, Dubai opted instead to send the PR machine into overdrive.

    ‘Dubai bounces back’ screamed the local newspapers, right next to their foreign counterparts offering the altogether more sobering ‘Goodbye Dubai’. With such mixed messages it’s no wonder local and international investors have found Dubai so difficult.

  91. Pity the Nation

    By Lawrence Ferlinghetti

    Pity the nation whose people are sheep

    And whose shepherds mislead them

    Pity the nation whose leaders are liars

    Whose sages are silenced

    And whose bigots rule the airwaves

    Pity the nation that raises not its voice

    Except to praise conquerors

    And claim the bully as hero

    And aims to rule the world

    By force and by torture

    Pity the nation that knows

    No other language but its own

    And no other culture but its own

    Pity the nation whose breath is money

    And sleeps the sleep of the too well fed

    Pity the nation oh pity the people

    Who allow their rights to erode

    And their freedoms to be washed away

    My country, tears of thee

    Sweet land of liberty.

  92. Westminster government and the finance minister

    We have heard shifting positions from the Government on whether Jamaica faces an economic crisis. We have had shifting positions on whether we need the International Monetary Fund (IMF) too. We have had shifting personnel – four different lead negotiators with the IMF and the new Bank of Jamaica (BOJ) governor might become the fifth. We have had two BOJ governors, two junior finance ministers and three financial secretaries in the last two years.

    We have had shifting timelines for the IMF. We were told that we would have an IMF agreement by September, then October, then November and now December. We have been told shifting stories about why we have not had an agreement with the IMF as yet. Daryl Vaz said the IMF wants Air Jamaica sold. Air Jamaica’s president said he was hearing that for the first time. Edmund Bartlett said it would only be a partial divestment. Audley Shaw said he would not comment. He needed to talk to Vaz.

    RESPONSIBILITY

    http://www.jamaica-gleaner.com/gleaner/20091129/focus/focus4.html

  93. You know Finsac. We should really see who bought up all these houses and assets.

    http://www.jamaicaobserver.com/news/html/20091128T180000-0500_164697_OBS_FINSAC_HORROR_STORIES.asp

    i wonder if any enterprising person could get a list? Ehh Jay?

    OLINT is horrid…although many ‘lost’ borrowed money (mainly from NHT and brokerage loans) the majority of the victims were hit for their savings that already been paid for through work….Interesting…nyampapcarn whe u deh? U watching? Watch very keenly maybe soon you on the edge of your seat a papcarn scatter a grung!

  94. @floridian As a great sage should people keep their funds in Jamaican soverign debt instruments or should they rest the money under matress for a while.
    Investing in JA sovereign debt at this time is probably unwise.

    The answer actually ties into the comments by Robin Irie re FINSAC. JA is effectively bankrupt. The ratings agencies are now beginning to get that too. Our debt is unsustainable and we are at a point where it needs to be restructured. A private company in the US would file for Chapter 11 bankruptcy reorganization, like say GM.

    The path to here was caused by the gross mismanagement of the banking sector leading to its bailout and doubling of the national debt… effectively putting us on a path to bankruptcy.

    Do not take my word for it because you will think I am being partisan…
    The economy faces serious long-term problems: a sizable merchandise trade deficit, large-scale unemployment and underemployment, and a debt-to-GDP ratio of almost 130%. Jamaica’s onerous debt burden – the fourth highest per capita – is the result of government bailouts to ailing sectors of the economy, most notably the financial sector in the mid-to-late 1990s. It hinders government spending on infrastructure and social programs as debt servicing accounts for nearly half of government expenditures.
    https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html?countryName=Jamaica&countryCode=jm&regionCode=ca#2116

    The gross mismanagement was 2 fold. The gov at the time failed banking 101. It is elementary and simple. You cannot allow any banks to raise deposit rates excessively higher… this will effectively create a wide scale banking sector ponzi. If a marginal bank raises rates to attract capital because it is short of capital… essentially delaying its demise. It starts to attract depositors and so other banks are forced to match the rates thereby pushing otherwise healthy banks into financial difficulty. Left unchecked, as happened, this will lead to the demise of the entire banking system.

    If this scenario starts to unfold and there is no regulatory regime in place to deal with it,, it is the responsibility of the gov to pass emergency legislation to allow it to seize the problem banks.

  95. The 2nd part of the problem has been the misguided use of interest rate policy to keep the JA dollar artificially high against the US dollar and other foreign currency.

    Devaluations are unpopular because of the resulting disruptions and rise in the cost of living.

    This is how it unfolded. First the JA $ rate v the US $ was set by the gov/BOJ. When we went to the IMF they forced us to devalue the dollar. Eventually we ended that and allowed the rate to supposedly float.

    However this is only an illusion. Instead of definitively fixing the rate, what is now done is to set targets and defend those targets by raising interest rates as necessary when the dollar starts to slide. Interest rates were pushed above 50 %. This only helped exacerbate the problems for the banking sector described above.

    You cannot have it both ways. Either you fix the exchange rate and devalue as necessary or you let the exchange rate truly float. Because there has not been equilibrium in the demand for foreign exchange (demand exceeds the supply), interest rates have had to be maintained way above advisable levels.

    This leads to several really bad side effects. It raises the cost of gov borrowing and coupled with the above massive increase n the debt burden has effectively bankrupted the country. It completely stifles private businesses that need financing to grow and survive. As the current FINSAC hearing shows few businesses can survive borrowing at those rates.

    This has led to no growth, little or negative growth in the JA economy for many years. Effectively short circuiting precisely what is needed to increase foreign exchange earnings and help to stabilize the dollar… we have to grow our way out of the problem. This of course has led to continued high unemployment etc…

  96. Robin Irie raised the point of why would a businessman borrow at those rates… but with a background in accounting, this is an unusually simplistic outlook. As in any other time span, some business owners will make bad decisions and ultimately fail. However as we see with the current global crisis lending/borrowing by the banks is needed for economies to thrive. This why we have bank bailouts across the globe.

    If your business depends, as many do, on borrowing to finance items such as inventory, receivables or capital spending or equipment replacement… and if the rates are pushed to ultra high levels… all the business owner can do is simply close his business down or gamble that he will be able to make it work. There is really not much room in between.

    The high rates driven by the use of interest rate policy to defend the dollar has effectively been disastrous. A better choice between the 2 was to let the dollar devalue by truly floating or by the BOJ adjusting the rate as necessary to maintain equilibrium.

    In other words we are where we are and bankrupt because of an extended period of gross mismanagement. It is not about the specific individuals or the political party, it is about the policies. Focus on policy and not parties or individuals. That is the logical way, if the folks in power are not following effective policies, vote them out. Simple as that.

    • Novotec, I say Amen to that. This is the first time I am hearing anything sensible being discussed about how to save the Jamaica economy. The country needs to focus on policies that work, that are long term without flinching, without bothering about which party is in power and/or whether it is the party that I support.
      Nationhood should be the order of the day, and we are not talking about the symbolic Jamaican flag here, we are talking about patriotism that makes you know that when you bring in barrels through the ports and plan not to pay what Danville Walker’s crew assess your duties and other sess to be, because you are small man, and it is only a barell; you hurt the national purse. You hurt the national purse further when you proceed to sell your ‘gifted’ items to the shop at a costing that is based on ‘no import duties paid’ because your goods are then cheaper than those importers who conform to the law. Your innocent action helps to gradually wipe these legitimate, tax-compliant importers and their employees off the trading and business landscape – further aggravating the ying-yang of the fiscal-monetary balance.
      We know that governments waste tax payers’ money all the time, but if they don’t collect enough it gets difficult to meet all the social obligations required of them and the IMF may be the end result.

  97. @Jay

    The way it usually works with the US coast guard is that they were most likely tracking the movements of that boat… it probably went to South or Central America and or had a rendezvous at sea…

    When it got back to JA they probably referred it to JA authorities for search… Odds are, if nothing was found they likely got tipped off but of course a mistake could also have been made.

  98. Noco, even you must learn listening skills. Too many of us answer a question not one we have been asked but one for some reason we would like to answer.

    Twice you have ‘chosen?’ to do this.

    The question has nothing to do with : Should people invest in the bonds at this time… BUT is specific in asking your opinion on: should those who are invested in the bonds (at this current time0 remain holding a position of interest in them.

    Noco, you must practice. Finance and Politics are only two aspects of this wonderful world. Trust mi I qualified to say that. Work on communication skills easpoecially listening skills…do not the brain run off the tracks and answer what has not been asked.

    Practice…all of us should. Never know when you might be in court.

  99. In court is different from like MOTTY and those radio gigs.

  100. These lawyers will spot weakness and phase a few questions if they know you have a penchant to answer what you ‘mind’ seems to want to answer. then credibility takes a nosedive.

    It has to tight. That is why some lawyers really enjoy having certain clients as opposed to same old regulars.

    Sometimes all a lawyer a try get out of hand and you have to cool them down…all answer them slow and clear in Latin. You dig Nonco?

  101. A Sharp as a razon memory is good too. A lot of research , lawyers former cases, articles, authors date breifs, reams of verbatim quotes…lot of work…worth a lot of pay…

    Red Pppppeee…Mawnin’ Sunday Red Ppppeeee!

    Sunday School …..bill in the mail…

  102. Noco, If in the mid 90’s I am developing some townhouses (as a non-greedy Olinter of course) and I borrow say 100 million at 35%.

    Then when I add my markup (for I must deserve profit) then I ask what percentage increase in cost does the townhome sell to the victim…sorry I mean buyer?

  103. Crawford and Chen Young and Fullerton and Delroy ‘OLINT’ Lindsay what a fight card…in Jamaica to top it off! What we call it, “Rumble in the Empty Vault!”

    A enterprising promotor shoud get Davies and Crawfor in the ring with those extra size foam gloves and pads….ehh Nonco?? hahahaha….it would make a killing.

    A warm up card could be Leeching vs ‘Dirty’ Deacon.

  104. Alas corruption so plentiful many of the prizefighters would probably take and early fall for some small change…

  105. And we have to many who go by the name ‘comeback kid’ …too many….them snout get placed back in the trough quickly due to loyalty…even after their trotters had been found in the till….again and again and again.

  106. The more corrupt they can get the more trough they are rewarded with.

  107. Red P…shh…you tally tithes and collection yet?

    hahahahahaha

  108. hehehehe … Red Ppppeee!

    Some are made for the steeple, some for accounting (ACCA/CPA) and some to enchant the courtroom and give the journalists reporting on the cases the time of their careers..

  109. Nonco, you always full ‘answer’

    Tell me oif you know the the greatest one day circulation sales for The Sunday Herald? You know that date?

  110. Twice Floridian? It is trademark.

  111. Nocotec:

    ….”The 2nd part of the problem has been the misguided use of interest rate policy to keep the JA dollar artificially high against the US dollar and other foreign currency.”…..

    Huh?….I think you lost me on this one. The high interest rate policy has two objectives: Keeping the Jamaican Dollar (against the US$) “stable” (as oppose to low or high [?]) and inflation “low”!!

    ….”You cannot have it both ways. Either you fix the exchange rate and devalue as necessary or you let the exchange rate truly float. Because there has not been equilibrium in the demand for foreign exchange (demand exceeds the supply), interest rates have had to be maintained way above advisable levels.”……..

    The question is why is equilibrium unachievable?

    1) What is giving rise to the demand outstripping supply?

    2) What is the composition of this demand? Is the funds convertible to “productive” means? Or what percentage is directed to “consumables” (high-end cars, clothes, even “big” houses, etc.) or other non-productive means? What percentage is attributable to capital flight in search of better returns or repatriation to other territories?

    3) What impact does tax avoidance has on this issue and the territories chosen to incorporate one’s business (mega hotels comes to mind).

    4) What external factors impact this dynamics or is the Jamaican economy immune from such factors?

    5) Given the fact that the vast amount of wealth in Jamaica is concentrated in the hands of a few, do they have the upper hand to manipulate an “imperfect” economic system?

    6) Is a fix exchange rate versus a floating rate or vice versa, advisable irrespective of where you are on the economic cycle? Is it one size fix all, irrespective of the whether the economy is growing or contracting? Maybe it is simplistic to believe an either or approach is the correct one! 🙂

    7) Have Jamaica EVER had a fixed foreign exchange rate system or hybrid?

    8) What role does influx of foreign exchange (supply) have on this equilibrium and how does the “few” determine that outcome via the source of these funds and whether those funds where ever part of the equation to begin with.

    I await your response……….

  112. @floridian: The question has nothing to do with : Should people invest in the bonds at this time… BUT is specific in asking your opinion on: should those who are invested in the bonds (at this current time0 remain holding a position of interest in them.

    The question you asked has no definitive answer unless you know the persons specific circumstances. I explained this before. Some questions when asked… the best answer is often to answer a variant… This is difficult for some folks to grasp and this stubbornness often leads to bad decisions such as investing in Olint.

    For example I used to be asked offline which is better to invest in, Olint or C+. In your world the question should be answered as asked… but the correct response is neither followed by an explanation of what is better. Of course typical of ponzi scheme investors is… mi neva ask you that, just answer the question.

    The answer about investing in JA bonds whether new or continuing is the same. Think of it this way… each day you can choose to continue invested or not… each day you are effectively a new investor… you are choosing to continue or you can sell.

    The choice to stay invested is affected by the same investing decisions as those that need to be considered by a new investor. The person already invested has additional considerations which are specific to their circumstances, such as… tax consequences of sale, time to retirement, other investments or choices, are you close to meeting investment goals etc.

    For example, have you held the bonds for 5 years and made enough money to meet your goals. See how this is dependent on personal circumstances? Some of these factors may dictate that staying invested may be better than selling.

    However given similar circumstances by 2 investors the decision to invest or stay invested is the same. The point is I did answer the question twice. The first time, as now, I explained that a decision to sell or keep an investment requires additional personal financial analysis.

    However if you look at the blog over the years you will see it littered with similar responses to explanations… folks are big men so they already made up their mind and are seeking validation not answers.

  113. @MikeD

    You pose interesting questions. I will be back later to answer.

  114. Nonco, Tangent. Sure investing in the bonds particularly if you are domiciled in Jamaica actually does have many similarities to putting money in OLINT.

    You have no jusisdictional recourse to recover in the event of default.

    hahahaaa

    Fun joke and truths aside:

    If you are say a portfolio manager adivising clients on investment you can speak about goals. Sure no problem with that standard. However, a prudent portfolio advisor can not advise in a linear fashion (although it may suit their employer). Aside from goals, dreams, aspirations, retirement, age, total investments, job, health, insurance, asset spread, diversification, pension, superanuation etc….

    THE PRESERVATION AND SECURITY OF WHAT YOU HAVE IS PARAMOUNT OVER ANY OF THOSE THINGS.

    For without anything to invest or reinvest then goals go out the window ehh?

    Let me ask you this Nonco. If there is no provision in law for recourse through our (speedy and independent) courts if you are domiciled in Jamaica and hold a position in the bonds.

    And…

    If an investor had made their own decision to hold said position in the bonds.

    Would it then not be prudent to seek to hold said aforementioned a position from a brokerage house outside of Jamaica where if in the ‘unlikely’ event of default some legal recourse to the funds is at least permitted?

  115. Nonco I think many here will agree that that is a fair and resonable question.

    I’m interested to see how you HACK it.

  116. Perhaps you might let us know your answer to that question Mike D?

  117. And the question should not be mistakenly seen as malicious to local brokers. Besides if we take the example of Sterling Tortola such and entity can be covered by civil rico and be subject to other American citizen protections.

    BTW did anyone see Crawfords endorsement of the Commissioners (Finsac Enquiry)?

    Added Crawford: “I have great faith in the integrity of the officers and commissioners, and pledge my all to the well-being of our people and our country.”

    Nonco, what’s your opinion of the Commissioners and who has been on the hustings there so far?

    Everything above board? Integrity? No associations ans/or business dealings with these sickening Cash Plus and Olint schemes?

    Clean bill of health? Crawford in…sorry on …the money?

  118. Let us by very Frank Nonco.

    If you were a Finsacked (AFE) such as those examples the public met last week would you want to know that a Commissioner of the Enquiry was a person in material benefit from OLINT? What if you were an AFE who also got shafted by OLINT? How would you rate the Commission?

    If you were one of the 24,000 ‘victims’ would you be concerned if someone representing the groups interest was in material benefit from Cash Plus while the Cash plus members are suffering beyond belief?

  119. It is well known that people with what can largely be termed political disputes use attorneys aligned to the opposite ideology to represent their interests. Omar is a PNP right? You telling me you can’t find one attorney sympathetic to policies of the other side with NO connection to the fraud schemes?

  120. There are so many many lawyers in Jamaica. Look left you see lawyer. Look right you see lawyer. Even today’s Observer features some lawyers. Jamaica short on justice I agree, but not short on lawyers…non-aligned lawyers, lawyers, lawyers, lawyers upon lawyers upon lawyers.

  121. Some vetting questions? Not even one?

    Have you ever been in any cotractual arrangement or business dealings with persons who have been in the past or currently under charges for FRAUD who are facing court action involving the misappropriation of funds in excess of: US$300, 000,000.00 (is that figure low enough to cover Carlos Hill and David/Tracy Smith Nonco?)?????????/

  122. 2 charged with running $190M Ponzi scheme

    (Read this one carefully, look where the money went – you will see a familiar country showing up).

    http://www.startribune.com/business/72910037.html?elr=KArksi8cyaiUBP7hUiD3aPc:_Yyc:aUU

  123. “Now is not the time to be politically correct, telling people what they want to hear, writing what they want to read. Now is the time for truth,”

    In his sermon, which was given under the theme ‘Think on These Things’, Jackson noted that the media, as agents of socialisation, provide information, education and entertainment through printed and electronic means

    In his own address, Buckley said, “We are acutely aware of the role of the media in the life of our young democracy and, in this regard, I implore media practitioners to not only act as a mirror that reflects what needs to be fixed in society, but we should also reflect and project what’s good and what’s right.”

    http://www.jamaica-gleaner.com/gleaner/20091130/lead/lead5.html

  124. Baroness with a purpose

    A few months ago, The Daily Telegraph commented on Baroness Kinnock’s growing popularity: “People working closely with the new minister have asked why on earth better use had not been made of her sooner.

    She challenged her colleagues to “keep the pressure on the United Nations, the European Commission and our own governments until they are shamed enough to act.”

    http://www.jamaicaobserver.com/columns/html/20091129T210000-0500_164810_OBS_BARONESS_WITH_A_PURPOSE.asp

  125. Who said the system does not work

    Job firm directors ordered to repay clients Dec 15

    However, the directors, despite being aware that they could no longer provide jobs for their clients, went ahead and collected payments of US$1,500 and more from job seekers between August 2008 and September 2009.

    http://www.jamaicaobserver.com/news/html/20091129T210000-0500_164813_OBS_JOB_FIRM_DIRECTORS_ORDERED_TO_REPAY_CLIENTS_DEC___.asp

  126. I think we can all agree, whether it is a violation of protocol or just plain tacky, that this man was tacky and tasteless BEFORE he was elected and could we have expected anything more? No. He was a gauche crook before he was elected and once he got the taste of money, he had to buy anything and everything he didn’t need with our stolen funds.

    What I do want is for someone here in authority to take a page from the US Federales and their RICO playbook. If it looks like drug or racketeering money or assets, smells like, tastes like, walks like it, then grab it and make them prove it isn’t ill gotten gains. Show us your books. A forfeiture action sooner than later.

    http://www.tcijournal.com/index.php?idsub=2128&id=8

  127. Who shut down Olintja and why?

  128. Rahtid!! Everybody a feel it.

    By Al Edwards

    Friday, November 27, 2009

    Holders of AIC (Barbados) notes were yesterday informed that the Michael Lee Chin-owned firm was unable to make good on a promise to honour bond payments which became due today, and were issued with three options by trustee PanCaribbean.

    “We were unable to meet our obligations due in part to the prevailing financial crisis which has made it difficult to sell assets,” executive director of AIC Global Holdings, Robert Almedia, told the Observer last night. “Nevertheless, we have generated internal cash and are now proposing to pay 30 per cent of the principal in cash.”

  129. I suppose its someone who was tired of having their information blasted all over the internet.

  130. That olintja site was funny though in that so many people said they never invested and so many said they invested and then they were revealed for what they are.

    Even the Prime Minister who has claimed in the past to have warned people hahahahahaa

    Anyway pity all of them. All a big group of fools? Almost the entire CABINET is there.

    Greedy Sucker idiots not in short supply ehh Nonco?

    I’m sure there is more. some of those emails were memorable like Jewel2Sell…and ‘the mother of all conferences’ ….let me stop ok one more, ‘the Australian Model’ hahahahaha

    Think about it. They are in charge of ALL the Nations money! Directly or indirectly so if you were so smart never to have engaged Smith and have 5 cents invested in Jamaica ….then i have news for you….you not so far removed from the ‘poor olint suckers’

    hahhahahaahahahahahahaaa

  131. The Olint foundation Minutes of meeting?

    Who could forget that? And Tracy Smith not wanting to appoint the additional board member until after elections?

    What does politics have to do with a Foundation for Child autism?

    Ehhh Noncotec?

  132. Look at that picture….he seems to be looking better these days.

  133. The Ponzi Scheme’s Reach

    Some investors have complained that that the Toronto-Dominion Bank statements were tantamount to a guarantee, which greatly impacted investor risk evaluation analysis. Scott Rothstein knew how to buy political favours. The halls of his office were lined with framed photos of Rothstein meeting Florida Governor Charlie Christ, former Senator Mel Martinez, US Senator John McCain and Broward Sheriff Al Lamberti.

    http://www.sunheraldja.com/2009/11/the-ponzi-scheme%e2%80%99s-reach/

  134. The taxman froze the Doctor’s assets in Jamaica today. Everybody being frozen except David Smith et al in Jamaica.

    http://www.sunheraldja.com/2009/11/us-going-after-coke%e2%80%99s-assets/

  135. “The Substitute Asset Provision covers any property subject to forfeiture but as a result of any act or omission of the defendant cannot be located upon the exercise of due diligence; has been transferred or with, a third person; sold to, or deposited among others.”

    Noncotec where are you sage? Can you explain for us this Substitute Asset Provision?

    A thought Smith said the USA had released his funds…sometime back Jay?

  136. Nonco,

    A company well know worldwide like Mastercard facilitating payouts of OLINT through their Compass Card TM Product?….A confidence booster? Endorsement? Make an invetor feel safe or is it that we should run away from Mastercard Corporation lest Noco later tell us we were greedy.

    I definately feel the Mastercard association and full working relationship was an endorsement. Made me feel more comfortable as they are a well know American firm

    Hey it was not a mention in Parliament and I would not say I am going to go back and visit Mastercard with my family nor am I going to tell Mastercard ‘my house is your house take a look’

    but I am SURE many Olint members felt a strong sense of security in the fact that Mastercard was directly associated with OLINT and you had a card with your name on it and it was OLINT and the security of that corporate giant all on one neat plasic card (that could draw US$ out of the Scotiabank Machine in liguanea) it felt safe…it worked..like clockwork ..the card worked in the USA and abroad…oh the paintings and things it bought….want to view the collection?????

  137. Pun intended.

  138. Hey Floridian:

    I am told that you and David Smith were “pretty tight”….someone even used the term “best pals”.

    How did you not know?…..Or what did you know? Someone said too that you filing suit against DS is like Ds sueing himself.

    What’s up with that? Are the people saying these things just crazy and greedy and stupid?

  139. ‘Best Pals’ was aterm used recently by Noncotec. Did he mention Smith? Absolutely Not.

    Accuracy though not loved by many is important in court.

    Smith’s best Pal …lee oakley…or you know. who cares.

    How this how that? Practicing attorney Tafari? One day going gto get a chance in court? All the best.

    The someone said part …I’m not sure what response can aid you but someone,someone,someone…who cares?

    Are the people saying things crazy…how would I know what anyone says if they do not say it to me? Someone says something to you and you ask floridian to explain a conversation you and that someone had?

    Hold on …ah yes i’m getting a vision…

    hahahahahaha

  140. Someone…Best and Brightest from the district?

  141. Floridian:

    Hahahaha…….

    Were you or were you not an Olint “inside man”?

  142. No pun intended.

  143. Counsel…you will get your time for questioning in the right forum under oath. You licenced?

    hahhaaha

  144. $18 billion gap in gov’t coffers

    http://www.radiojamaica.com/content/view/23285/52/

  145. NCB Capital Market’s MD resigns

    http://www.radiojamaica.com/content/view/23283/52/

  146. Couldn’t answer the question. The prosecution rests.

    Now for the press conference……

    I am here to report that a jury has convicted Sirach aka Floridian aka David Smith’s pal bla bla bla…….

  147. Hey Floridian:

    Here is another swindler in handcuffs…..What a pretty sight.

    Nocotec must be saying that govenor Charlie Chris and Ed Morse are all greedy and stupid and crazy….

    http://www.sun-sentinel.com/news/broward/fl-rothstein-charges-20091201,0,2217974.story

  148. I bought a Dodge from Ed Morse on 441 once. I must be double crazy and stupid…..

  149. .Rothstein bought a Plantation condo for his mother-in-law and a home in Weston for his No. 2..

    ?? oh dear….

  150. Yeah…Did anyone check in Jamaica to see how many properties were purchased in the names of friends and relatives of David Smith?

  151. Not that anyone would ever be able to touch anything he has in Jamaica, right Nocotec?

    Someone recently said on this blog that Tafari knows nothing about Jamaican politics but writes about it anyway……

    FYI idiot, Tafari cared nothing about Jamaican politics and reluctantly writes about such goings on.

    It would be so much easier that some guy just swindled the money. It is so irritating that the very government is protecting this guy, facilitated this guy’s actions and accepted the stolen money from this guy.

    It is sad to learn that the prime minister, junior minister in Finance, senior police officers, members of the judiciary all accepted money from Olint and are now protecting him in Jamaica?

    I couldn’t write that script.

  152. So dear friend, instead of calling on these corrupt officials to give back the money and open an investigation into Olint in Jamaica, you criticize tafari for pointing it out – while you claim there is no use opening an investigation because DS is already charged in another jurisdiction.

    Dude, like Floridian once said, “your slip a show”.

  153. Floridian:

    What do you think? Still no payout “anytime soon”…..

    Payout will start when Connoly has used up all the money in fees….

    As at 15 November 2009 I had received claims of approximately $134 million from 253 claimants who have provided Olint TCI statements. There are another 245 claimants who have not provided Olint TCI statements.

    For those claimants who have provided statements and other supporting documents for deposits and redemptions, their net deposit, being the difference between principal invested and redemptions made, is approximately $20 million.

    As I have indicated before, it is unlikely that there will be a distribution any time soon as there are still many more claims to be received, processed and verified. While opinion on the categories of claimants and the trust issue will assist in determining into which class of creditors each claimant may fall, the basis of distribution is still to be decided and I will be seeking the Court’s direction in this regard.
    The Liquidation Team will still however be constrained by the incomplete financial records of Olint TCI, particularly with respect to the redemptions that were made. This will limit our ability to determine the claims to be admitted until the reconstruction of the pre-liquidation accounts has been completed or we are provided with the database with the detailed transactions history for Olint TCI.

  154. We have explained to the claimants that in the three months to October 31, 2009 we spent over 1,000 hours working on this matter at a total cost of approximately US$205,000, excluding expenses. The average hourly cost was therefore approximately US$205 per hour. We believe this is a very economic rate given the complexity of the exercise. During those three months we recovered $125,000 resulting in a net cost to the beneficiaries of $80,000 or less than 1% of the $10.2M restrained.

    ///

    How about that eh?

  155. Floridian, Floridian:

    remember those agreements? Payments to Hallmark? What is your competing legal argument?

    /////////////

    Leading Counsel has also advised me the funds held in the bank account at TCI Bank Limited and other financial institutions in the USA are not funds belonging to the Company, but are funds that are held on trust for those individuals who deposited monies with Hallmark Bank & Trust Limited (“Hallmark”).

    This means that “the Trust Funds” are not available to me as Liquidator to distribute to the unsecured creditors but instead belong to a limited group of creditors, the identity of which may depend upon various competing legal arguments.

  156. No word of the 100 million that went to JIJ. No word of going after assets.

    Just a big update seeking to justify the fees…..

    Fees, fees, fees.

  157. It’s amazing how Tafari has these spouts of rhetorical flourishes when Nocotec is not around? When he is, he drops these one liners and run. Give it up Tafari, there is no money in sight for you to get back, just keep living off your monthly disability checks you were able to con Uncle Sam out of by feigning mental illness. 🙂

  158. The best person for a big theef to steal from is a smaller one.

    Get it Tafari?

  159. Is long time them want big theef. Smith just never understood the timing.

  160. He could have asked to be enlightened but him green. That’s how it go sometimes.

  161. Big theef nows not how it will actually go down but knows it is coming.

  162. It does amaze ‘them’ how some few can see clearly what has taken years for them to arrive at. ‘They’ actually can’t believe the concept at times. It’s an ego thing like most of human nature.

    Riddle mi dis Tafari? Nonco?

  163. ‘on the river’ soon all the high rollers will be standing instead of sitting watching the dealer play the card.

  164. Wish I would give it up?

    Nah, sent a very detailed letter to the IMF. We won’t wait until after the deal to deal with Olint.

    The IMF must know it all Mike Dummy.

  165. Mike Dummy is worried about Tafari while living in his mom’s basement.

    Get out and get a job dude. Stop hanging on the Nocotec’s coat tail to make yourself relevant.

  166. Opinion of Leading Insolvency Counsel

    Given that importance of determining categories of claimants and their status, I sought and obtained formal legal opinion from Leading Counsel specialising in insolvency matters. Leading Counsel has identified six categories of claimants who may potentially have claims against Olint TCI, namely:-

    (1) Those investors who entered into agreements with Overseas Locket and paid funds to Overseas Locket/Olint Corp;

    (2) Those investors who entered into agreements with Overseas Locket and paid funds to Overseas Locket/Olint Corp, but having been provided with statements on Overseas Locket headed paper were subsequently provided with statements on Olint headed paper;

    (3) Those investors who entered into agreements with Overseas Locket and paid funds to Overseas Locket/Olint Corp but having been provided with statements on Overseas Locket headed paper were subsequently provided with statements on Olint TCI headed paper and who also subsequently invested further funds with Hallmark/Olint TCI;

    (4) Those investors who originally entered into agreements with Overseas Locket and paid funds to Overseas Locket/Olint Corp and who subsequently entered into agreements with Hallmark/Olint TCI;

    (5) Those investors who originally entered into agreements with Overseas Locket and paid funds to Overseas Locket/Olint Corp and who subsequently entered into agreements with Hallmark/Olint TCI and paid funds to Hallmark/Olint TCI;

    (6) Those investors who entered into agreements with Hallmark/Olint TCI and paid funds to Hallmark/Olint TCI;

    It is Leading Counsel’s opinion that I only need to take account of claims falling with categories (3) to (6) and that those falling within categories (1) and (2) do not have a claim against Olint TCI.

    Hey Floridian, what is your category?

  167. Golding wants to keep it quite…asked Davd Smith to wait till after the IMF deal to make waves – this in exchange for no prosecution.

    David Smith didn’t act alone. He had government help.

    The IMF was very interested in that angle…..you know, as to why no action was taken against him in Jamaica.

    The cat is getting out of the bag…It wasn’t a very big bag after all….

  168. That should b quiet….

  169. The Trust Issue

    Leading Counsel has also advised me the funds held in the bank account at TCI Bank Limited and other financial institutions in the USA are not funds belonging to the Company, but are funds that are held on trust for those individuals who deposited monies with Hallmark Bank & Trust Limited (“Hallmark”).

    This means that “the Trust Funds” are not available to me as Liquidator to distribute to the unsecured creditors but instead belong to a limited group of creditors, the identity of which may depend upon various competing legal arguments.

    Floridian nah get none….

  170. We are notifying directly, potential beneficiaries of the Trust Funds (who have already made a claim and provided me with their contact information) to seek their position on the payment of the Liquidators Remuneration from the Trust Funds and will notify the Court accordingly.

    We have explained to the claimants that in the three months to October 31, 2009 we spent over 1,000 hours working on this matter at a total cost of approximately US$205,000, excluding expenses. The average hourly cost was therefore approximately US$205 per hour. We believe this is a very economic rate given the complexity of the exercise. During those three months we recovered $125,000 resulting in a net cost to the beneficiaries of $80,000 or less than 1% of the $10.2M restrained.
    /////////////////////
    BIG JOKE..

    Anyone see the scam?

    Identify a few to pay the money out to. Cool runnings….TCI took a page out of the Jamaica corruption book. Floridian, file an injunction…this nah go work.

  171. Their owner, wealthy businessman Ricardo Fernandez who has close ties to the government including supplying state shops with food, is under arrest.

    http://www.radiojamaica.com/content/view/23309/88/

  172. Tafari,

    Many try ride my fenda you know. You see pass dem dung di road when you a come up?

  173. Floridian:

    Wah yuh tink bout dat update?

  174. This is my translation of the update:

    Mr. Connoly said: I am here to update you that I will take all the money. And for those of you thinking about getting a penny on the dollar from that 13 million I talked about? Well, oops! I have a group of people to give that to. My attorney told me that all we have to do is make up some fake claims under names of our relatives and friends (David Smith didn’t give us records).

    So we are spending thousands of hours doing this very complicated task of nothing. We will bill you the very reasonable rate of two hundred thousand or so every few months.

    meanwhile we are working with the police to file more charges just before the next court date so that we can extend this a little longer.

    When it is all done, it will be just like Jay said. Olint creditors will owe me ten million dollars.

  175. Floridian:

    You have a big car from all that Olint “profit”. Surely you can give a poor fella like me a ride mon.

    I just need to pick on you to make myself feel better. Remember I am superior to you and you are stupid and greedy and crazy.

  176. Tafari,

    Motty Perkins handlers must be reading your comments here as they are released.

    Perkins claims to heard on good authourity from a reliable source that the IMF is concerned about Finsac and that the Jamaican people have a full understanding of what when on.

    At the rate that enquiries and the courts and justice take place if that ‘source’ is true then when will we get money from the multinationals? 20 years time?

  177. If we are to believe Motty in that the IMF has concerns about Finsac then what would cause them not to be concerned about David Smith and OLINT?

    Are you you some kind of sage Tafari? Only one sage we have been used to and it is Nonco.

  178. Deacon David Smith mash up Jamaica and run gone to island paradise that use $US. how come he got in there so easily? And you know like in Costa Rica Jamaicans usually come under close scrutiny.

    On MOTTY’S point (for he has mentioned it again) If the IMF is concerned about FINSAC issues and the collapse of the financial sector in 1995-1996 which was 14 -15 years ago…then when will the IMF come up to 2006-2007…???

    I hope they have the staff…any volunteers? Just say the word.

  179. Antigua nah get a dime till they repay victims…Jamaica nah get a dime neither…..

    IMF man say a paper will be prepared outlining why Jamaica does NOT qualify…..Corruption in government.

  180. @ Tafari,

    Its a good thing IMF has people who think rationally.
    When ithe IMF was asking the GOJ to lock down the Ponzi scheme I am sure you were one of them say ” Bun the IMF, dem a try stop people from eating food”.

    You simply cannot have it both ways.

  181. 2009 in ending with a bang as the year when the most ever ponzi schemes were discovered.

    http://www.voiceofsandiego.org/articles/2009/12/02/public_safety/417shidaal120109.txt

  182. There has been still no freeze on DS accounts in Jamaica and I understand that more encashment request are on there way for additional funds.

    David is trying to move quickly to avoid the TCI liquidator finding some way to allow for a freeze of these funds.

    Olint investors corner dark!!!

  183. Jay:

    Why does the authorities? in Jamaica refuse to put the freeze…siting “no legal action against Olint in Jamaica” and when an attempt at legal action is taken the authorities? in Jamaica block it?

  184. Jay:

    Couldn’t be one of them. I had no interest in Jamaica whatsoever before January 2008.

    Didn’t know you guys were soooooo corrupt there.

    But the IMF dem a tink rashonallie buoy. Dem a looking at the corruption. Dem mah trus none ah yuh ras.

  185. Mih agree wid yuh Jay. Corner dark indeed…The whole dam Jamaica dark.

    Anyone who says otherwise is greedy and crazy and stupid!

  186. No action can be taken against Olint in Jamaica Jay.

    Can you sue the government? The government got there on Olint dime uh uh I mean stolen money.

    So that’s just the way it a go…

    Easy mon.

  187. Even man who spent time with a briefcase in DS bedroom a sue him – in Florida and in the TCI.

    Dem nah file case in JA buoy.

    Court in Kingston a throw it out. Ha ha ha ha ha …

    You know I have friends I been buddy with for over 20 years and never went into their bedroom?

  188. The observer done remove olint lawsuit stories….Think the IMF man didn’t see it? I emailed it to him long time….LMAO

  189. The IMF was really asking the JA government to lock down the ponzi schemes? Really? Instead they helped the biggest ponzi man move offshore in exchange for HUGE campaign donations….Wow!

    It’s like living in a pig-pen, huh?

  190. The JA govt should be forced to pay back every penny investors EVER put into Olint.

    It was like the guy was an agent of the government.

    The prime minister even went to see him? Really? I wonder if money changed hands then…..

  191. ay, on December 2nd, 2009 at 12:37 pm Said:

    @ Tafari,

    Its a good thing IMF has people who think rationally.

    ////

    Isn’t it Jay? What a good thing. And any aid the give to Jamaica will be facilitating a corrupt regime.

    What do you think about that Noco?

  192. Why use your EXTENSIVE knowlege of financial matters (and everything under the sun) to help Jamaica out guy?

    Why limit yourself to helping stupid greedy crazy Olint investors?

    Oh, it bigger than that isn’t it. Is that your contribution to a country in shambles?

    This is great.

    David Smith a laugh….Knocking his wife up and have millions protected in Jamaica by the government while his victims a suffer.

    Cool runnings!

    • Marvelous ain’t? You would have thought that DS would have little use for his pecker after messing up so many other lifes. Got no conscience, He doesn’t.

  193. Hurry Deacon pay them pay them pay them your promise….dem a go need it.

  194. The “rogue” FSC went and raided Olint. The government ministers who got paid off by DS were pissed…so the grabbed the FSC by the throat ut under pressure from agencies like the IMF had to let go.

    The compromise? No charges against DS. Let him run off to “paradise” and continue to take money – hey, they were going to need more campaign contributions.

    But premier in paradise pissed off the British. So things went south real fast. Premier get kicked out and scam boy gets arrested.

    Now Jamaica’s dirty government laundry is all over the floor.

    They are trying to keep it hush hush…

    Nah….everyone ah go know, right Jay?

  195. Floridian:

    How much you invested? Millions? Why pay that attorney to sue when there is no chance you will ever recover a dollar?

  196. Hallmark Bank & Tr td
    Defendant I Trade Fx LC
    Defendant I-Trade Fx Intl Inc
    Defendant Jij Inv LLC
    Defendant Martinez, Isaac
    Defendant Martinez, Jared
    Defendant Mastercard Intl Incorp
    Defendant Matercard Intl LLC
    Defendant Misick, Michael
    Defendant Overseas Locket Intl Corp
    Defendant Profesisonal Forex Assn Inc
    Defendant Smith, David
    Defendant Smith, Wayne
    Defendant Trowbridge, Brian
    Defendant Turks & Caicos Islnads Inv
    ////////////////////

    Did you get them all Floridian? How about PM of Jamaica?

    • What about Bank of America?
      They were conduit bank for the piggybackers like Wealthbuilders. A nuff money passed through certain account right there in Florida that must be investigated. Maybe the liquidator would find more missing fund…

  197. Plaintiff Alexander, Ivor
    Plaintiff Anderson, Roger
    Plaintiff Belcher, Sean
    Plaintiff Gallimore, Wayne
    Plaintiff Harrington, Eric Rowe, David Patrick
    Retained
    BarID: 373575
    Plaintiff Lowe, Henry
    Plaintiff Pottinger, Ingrid
    Plaintiff Ross, John
    Plaintiff Shand, Stewart
    Defendant Hallmark Bank & Tr Ltd
    Defendant I Trade Fx Intl Inc\
    Defendant I Trade Fx LLC
    Defendant Jij Investments LLC
    Defendant Martinez, Jared
    Defendant Martiunes, Isaac
    Defendant Mastercard Intl LLC
    Defendant Misick, Michael
    Defendant Oversees Lockett Intl Corp
    Defendant Professional Forex Assn Inc
    Defendant Smith, David
    Defendant Smith, Wayne
    Defendant Trowbridge, Brian
    Defendant Turks And Caicos Islands Inv
    ////////////////////
    ou got some more here…Plaintiffs up the yang tang…huh?

  198. Plaintiff Belcher, Sean Rowe, David Patrick
    Retained
    BarID: 373575
    Plaintiff Del Lyttle, Yelena
    Plaintiff Dunn, Brian
    Plaintiff Knott, Michelle
    Plaintiff Lowe, Henry
    Plaintiff Spence, Carol
    Plaintiff Sutherland, Ian
    Defendant I-Trade Bank 7 Tr Ltd
    Defendant Market Traders Institute Inc
    Defendant Martinez, Isaac
    Defendant Martinez, Jacob
    Defendant Martinez, Jared
    Defendant Mastercard Worldwide
    Defendant Overseas Lockey Intl Corp
    Defendant Smith, David
    Defendant Trowbridge, Brian
    //////////////////

    Hey dude…Is this a different crime altogether? One would think.

  199. Hey Floridian:

    Did Nocotec ever warn that Mr. Chin’s ponzi would fail?

  200. Why pay that attorney to sue when there is no chance you will ever recover a dollar?

    Tafari, thinking in terms of money makes you weak and vulnerable like them. To control people who view everything through a money tinted glass is easy.

    Therein lies their own vulnerability. Dem nuh know nothing else and dem nuh know betta.

  201. that’s one of the reasons why they double cross each other all the time.

  202. FSC was putting notices in the paper, the electronic media and warning people Not to place money in the ponzi.
    Some posters here ignored the warnings stating that the FSC ” A fight down poor people and dem fi leave Olint alone”.

    Now they had their money stolen they turn around and blame the FSC for failing to protect them, how ironic!!!

  203. Ironic?

    The FSC made the move. The FSC raided and referred a criminal complaint…..The government and police (and it appears, members of the judiciary) pressured the FSC to drop the issue).

    As I said here a long time ago, the FSC found documents, emails, fake accounting records indicating that the guy was running a ponzi. But they were unable to make it public.

    Jay remember that meeting I spoke about? I hear that there was “angry debate” about what to do about Olint.

    The decision was made to let the guy go offshore. HE HAD TOO MANY GOVERNMENT OFFICIALS IN HIS POCKET.

  204. Interesting Floridian. So you know you will get nothing but you sue just to make a point? To prove what? That Hallmark, the premier, DS et al conspired to defraud you?

    Interesting. To believe that would be as stupid as to believe that Nocotec is a good samaritan blogger…..DUH!

  205. Jay,

    If I put a notice in the paper warning you not to put your money in Jamaican brokerages then the decision is yours.

    It is an opinion that has been expressed.

    If you have ‘other’ compelling evidence to warn people from Olint and do not release reasons then it remains an opinion …same way.

    So either the FSC was expressing pure passing opinion OR they had compelling evidence which they choose not to share with the public.

    Who knew what where and when? If someone laments that they are sorry to hear that you ‘lost’ and that they told people and warned against it but simultaneously collected monies from the fraud…..What does that make them.

    Don’t tell me a ‘fool’ Jay for that is too gratuitous in the above example.

  206. Hey Floridian:

    Filing anything in the TCI? Nah. You were hoping to get the Broward courts to give you some of that funds frozen in the US…ha ha ha ha ha ha ha …..The liquidator is onto you,,,,,

    Did you read the update? You nah get that…….in trust for a select few.

    They already know who they giving the money to.

    But how is that if they have NO records? Did you see how you were scammed again?

  207. I warn you that Olint is a fraud then collect your money through the back door of OLINT

    Hypocrite?…Parasite? again too gratuitous there and not the favoured adjectives you find used much in court judgements.

  208. Hey Jay:

    Why did you and Nocotrick not warn the people dem bout Mr. Chin? Him nah pay neither….Things a crash….

  209. @ Tafari – What you reaching to what those dumb guys saying on the broken down#4 bus.
    Olint – ponzi is entirely different for a legitimate buiness that finds itself in a financial bind, which is the problem that AIS Barbados find itself in today.

    All bondholders will get paid, but right now its a messy affair to say the least.

  210. It is widely known (I guess a small minority does not read the newspapers) that the bondholders are secured by the NCB stocks that were pledge when the bonds were issued. In the in event of a default, the NCB shares kick in and can be sold to cover outstanding bond payments.

    I guess misery loves company or should I say greed, stupidity and plain old ignorance loves company 🙂

  211. LETTER OF THE DAY – Only resident Jamaicans can decide country’s future
    Published: Thursday | December 3, 2009

    The Editor, Sir:

    I am advising those Jamaicans in the diaspora who are endangering their health worrying about the crime levels, corruption and injustice in Jamaica: There is not much you can do to influence the tide of events at home from outside the country’s borders. If you do not wish to come home, give up the worrying and the concern, and just move on.

    Jamaicans have no will to change what is happening around them, and they actually resent any implication that they are incapable of solving their own problems. They believe in positive affirmations and prayers, and if you dare point out that the island is doomed unless drastic change occurs, the discussion suddenly becomes hostile.

    The point is that the population has become saturated with the high levels of crime, so in order to maintain their sanity, many have simply switched off their compassion, caring and concern. Those below the poverty line are intent only on survival, and those with the means have become selfish, as they have no intention of losing their positions of privilege and prestige. The middle class can only tread water to keep their heads above it. Many have stopped listening to the local news and don’t question the authorities on anything.

    Out-of-control spending

    I fail to understand, however, why it has taken so long for Jamaicans as a nation to realise that their Government gets away with only what the citizens permit. I listened to the current debacle regarding ethanol use, and earlier challenges like the Portmore toll road, the out-of-control spending in preparation for Cricket World Cup and many other instances where the people have allowed the Government to impose its will upon them instead of operating like a real democracy, where the Government operates in the interest of the citizens. It is usually after decisions are made and the people are feeling the pinch that they begin to complain. Too late

    http://www.jamaica-gleaner.com/gleaner/20091203/letters/letters1.html

  212. No law, no order
    Published: Thursday | December 3, 2009

    The Editor, Sir:
    There are numerous ‘don’t go’ areas in tiny Jamaica, a country of numbers 2.8 million people – areas that can only be breached by massive numbers of security personnel. Yet, people in positions of power in Jamaica continue to act as if we have a democracy. If the free will of our people are subverted and is not reflected in the vote count, it is a kleptocracy.

    Jamaicans continue to act as if the threat to national security that we face is simply a crime problem.

    http://www.jamaica-gleaner.com/gleaner/20091203/letters/letters5.html

  213. Jamaica a democratic country

    Democracy is often defined as “government of the people by the people for the people”. Jamaica is designated a democratic country; the people of Jamaica are asking that the Government invoke this concept.

    http://www.jamaica-gleaner.com/gleaner/20091203/letters/letters3.html

  214. Something had changed

    I returned to the island for a two-week vacation, and realised that it is easy to miss the despair if you just look the other way, avoid certain areas and keep your car window up at all times. I could afford to have a grand old time simply because my hosts live in an affluent section Jamaica that exists independent of the economy. But I was aware of what lurked beneath the surface, I saw the bodyguards and the closed-circuit screens in a private household that were not there before. Something had changed.

    http://www.jamaica-gleaner.com/gleaner/20091203/letters/letters1.html

  215. Sandals wants out of Sagicor’s property

    Companies in joint lashing of inaccurate Gleaner report

    Wednesday, December 02, 2009

    SANDALS Resorts International (SRI) and Sagicor Life Jamaica yesterday lashed a Gleaner newspaper report for a “misleading” article regarding Sandals’ decision not to renew its lease of the Sagicor-owned Dunn’s River property in St Ann.

  216. “Politicians arrested in public corruption probes”

    http://www.youtube.com

  217. Dem a rush to defend the Chin investments. Ah wonder why…….

    Greed stupidity et al aside, I wonder why.

    Who are we?

  218. But the Government, at the same time, is seeking to negotiate with Millwood in an effort to reach an out-of-court settlement on a reduced figure, Solicitor General Douglas Leys told the Observer.

    “The Government was never averse to enter into an out-ofcourt settlement with Mr Millwood…” said Leys. “But it was the [previous] unreasonableness demonstrated in negotiations by [Mr Millwood] that caused the matter to go to court.”

    http://www.jamaicaobserver.com/news/Gov-looking-to-negotiate-with-Millwood

  219. Jay:

    If one man invsted with Olint and another with Chin and both are without their money this Christmas, and children of both men are hungry, does it matter?

    D children dem still hungry.

  220. All praises to Mr. Chin. Who are we?

    Investforlife wrote:

    Micheal Lee-Chin’s Investment pays off
    Posted on May 29, 2008 by investforlife

    When Micheal Lee-Chin bought NCB I am not sure he dreamt that in six-years his investment would pay off so quickly. The Observer presents a very interesting peice worth reading

    Yesterday, National Commercial Bank’s (NCB’s) share price closed on the Jamaica Stock Exchange (JSE) four cents lower than the day before. But for Michael Lee Chin, the price of $23.94 a share was more than seven times the price he would have paid per share back in 2002 when he bought a majority stake in the bank.

    How much did he purchase NCB for in 2002?

    Lee Chin bought a75 per cent stake in NCB back in 2002 for US$127 million (J$6 billion in 2002), of which US$56 million (J$2.65 billion) was made as a downpayment.

    How much did he actually pay down to purchase his stake in NCB?

    Considering that only J$2.65 billion was paid down, earnings from dividends and share sales would have taken care of the rest of payments that were made in tranches over the years following 2002, reflecting an even higher return on his initial investment.

    The discussions will rage whether or not it was a good deal for Jamaica but for Micheal Lee-Chin, the deal has more paid off.

  221. @ Tafari. It may not for this very minute if I am penniless, but guess what. With Olint they will never get back more than 10cents on the dollar if they are lucky.

    With Lee Chin chances are they will get back their principal plus interest.

    If you invested with Olint and Chin and was presented with the above scenario, would it matter ?

  222. Also, chances are the smart investor than invested with Chin, did not sell their house , car and land to invest with Chin.

  223. @ Tafari,

    Further one man has been arrested and is on trial for fraud, while the other is still running a profitable business.

    Can you not tell the difference ?

    Bwoy a really sorry fi dread

  224. Hey Jay:

    Why was the other man not arrested in Jamaica?

    Can you tell the difference?

  225. Jay:

    If one man run a “legal” business and thief the people them money, and another man run a ponzi and thief the people them money, which of the people them have them money fe spend?

  226. Hey and Jay…DS might argue that him business is “profitable”. Him have millions of the thief money still spending with your government’s help.

  227. Who are we?

    We just some good samaritans trying to warn the people them so that the people them nah lose their money.

    We establish the blog just like them write pon wikipedia fe help out the people them.

    Right Jay?

  228. Jay:

    You actually know what the people dem do fe invest with Chin and Olint?

    Wow……

  229. Jay:

    Were you ever non-stupid enough to earn 10%, say, for 5 consecutive months in the FOREX “market”.

    Guess what….stupid old me did just that…..Better than that actually. Hoping for a better month in December.

    And Jay buddy, I actually gained more than I lost to that thief. Just playing with the house money now……It’s all gravy from here on.

  230. Before I was kicked off the #4 bus I wrote the following:
    post 45 & 51
    http://invest4life.wordpress.com/stocks/

  231. Jay

    I don’t know if David Smith is on trial yet. Others have been arrested over OLINT and Smith was not the first.

    Whether Leeching, Deacon or anyone else investing with any person linked to Jamaica.

  232. It has to be taken with a grain of salt at this time.

  233. Yeah Floridian:

    I wonder if DS has money invested with Mr. Chin and can’t get it now…..Wouldn’t that be ironic?

  234. Jay Nocotec et al:

    It turns out that David Smith is a darn thief. But you are still wrong.

    As it turns out, it is possible to sustain gains of 9-11% per month trading.

    I HAVE THE PROOF.

    • Show mi!! The proof that is…..how much are we talking about? I hope it not the US$1k you mention some time ago 🙂

  235. Well, I see you have learned very little from your time on this blog, and even though we tried very hard to show you the way, you continue to look for the proverbial ” pie in the sky.”

    You still obviously believe in ponzi schemes and I believe that your only regret is that you did not make a profit become they ran off with you disability funds.

    Since you have found a new ponzi that can make you 9-11% per month, I guess we wont be seeing you around anymore. Just don’t come back complaining that Noctec, JohnDoe , Jay etal did not warn you about this new ponzi scheme.

    Good luck with your 10% per trading. Just a pity you are willing to gamble a away the rest of what Olint did not get.

    • Jay, on December 3rd, 2009 at 2:20 pm Said: ….”You still obviously believe in ponzi schemes and I believe that your only regret is that you did not make a profit become they ran off with you disability funds”…….

      Hahahahhahha……………aaaaaaaaaa. I can’t wait for the other shoe to drop. I bet you Jay that a few post from now, Tafari will be using the Blog to solicit new investors into his Ponzi Scheme, promising 9-11 % per month?

      Jay, is there anyway to block Tafari for life from the Blog? We still have a few impressionable readers of the Blog that might be sucked in with such a pie in the sky dreamer. We do need to protect them from Tafari!!

  236. Mike D its possible, but we will allow him to continue to make a fool of himself before lapping his tail and walk away for good.

    The guys is obviously delusional and cannot seem to get 10% out of this head.
    Just check out the average rate from his forex ponzi 9 -11%. Its turns out that 10% is smack in the middle 🙂

  237. You guys are idiots.

    My trading has nothing to do with a ponzi or belief therein.

    You are so into your own scam that even if someone tells you that he manages to make X amount, you go right back to “ponzi”.

    MikeD…that is smart. You have to be the biggest fool on this blog.

    • Tafari Francis, on December 3rd, 2009 at 2:50 pm Said: ….”You guys are idiots.”…..”MikeD…that is smart. You have to be the biggest fool on this blog.”…..

      Thanks Tafari!!! Since those comments originate from the depths of your delusional state of entropy, I readily accept those comments as a compliment and wear them as a badge of honor. 🙄

      You still haven’t answer the question of dollar amount at risk with your Forex trading endeavor?

  238. Jay:

    I haven’t heard you say how much you make. You must be losing your little chump change. If so, why are you still trading?

    I know someone doing much better than I am. So what are your numbers Jay? You must be an idiot to lose and still be doing it.

  239. And Jay:

    How much was Mr. Chin giving you?

  240. What if I said I made a consistent 21% per month? Would I then believe in Ponzis? How about 1% Jay? Would I then believe in ponzi?

    Your scam is still going Jay? You won. The banks got rid of all the ponzis. Now the only game in town is Mr. Chin…oops…That fail too.

  241. MikeD:

    Where do you work? What is your salary?

    • Work? Salary? Mi nuh work, mi getting a check from Uncle Sam like clock “work” ……just like YOU….easy money!! Bwoy Tafari, we really have this thing in the bag, nuh true? 🙂

  242. @ Tafari,

    You invest with Olint and lost your skirt err I mean shirt and you are the smart one. 🙂
    I invest with Lee Chin and made a sizeable profit – and I am the not so smart one.

    Hmm, I can see clearly why you believe that 10% per mth is achievable and sustainable.

  243. Block Tafari for life from the blog…wow..that took long.

    Getting too close?

  244. Still digging, don’t worry…by the time I am done, all yuh dirty laundry will be in the road…

    And you nah go geh no IMF money feh scandal wid.

  245. Jay, 25% per month is achievable. 11% is sustainable. FACT.

    What have you managed to sustain? You claim you are a forex trader, right? What are your numbers?

  246. What are your numbers Jay?

    Who is running a scam Jay? Won’t say? Ha ha ha ….

  247. What are your numbers Jay?

  248. Jay I know it is possible to block me. You did it before…..Do it cause I nah go no way gyal.

    You are no better than David Smith. Well, I guess everyone got their scam.

    • Tafari:

      It was only a joke regarding blocking you for life. There was a time when you had some sense of humor. But ever since Nocotec threaten to tek wey your wife you lost what was left of the humor. No one is going to block you on this blog.

      If it makes you less sensitive, I will talk to the “professor” to see if he would back off his threat of taking away your wife from you. You can now sleep soundly now (at leat with one eye shut; can’t promise you Nocotec won’t try a thing) despite your inadequencies ………

  249. Is there a psychiatrist in the house.?
    We got a blogger that needs help before he does something crazy like taking “Bushmaster rifle” and start shooting people.

    Did you not say you are an expert marksman, well take aim at David, he has your money not me.

  250. @ tafari said-

    Jay:

    You actually know what the people dem do fe invest with Chin and Olint?

    Wow……
    ———————————————————————————–

    Tafari, it is common knowledge that quite a few sold or mortgaged house, land, car, wife, pig, cow, goat and donkey and sunk it into Olint. No secret there. Why you think all some people dead from heart failure over dis thing? Cuz dem put heveryting dem did have in it. Even dem pension.

    It’s sad, just very sad when you hear some of the stories.
    Peace

  251. Don’t worry about where I take aim…..One Shot, One Kill.

    Heard some of the stories…never really believed that it was that bad…..Aren’t you supposed to invest money put aside for investing? Why would someone mortgage a house to invest? That doesn’t even sound right….

    But I guess people do crazy things.

  252. MikeD:

    Did Nocotec threaten to take my wife? I wouldn’t know. I usu\ally don’t read that litany of selfrighteous bullshi#.

  253. Anyway, tell Nocotec that for 10% of the money he is stealing from the Jamaican people, he can have her….

    Jay: see, I’m a gonner for 10%.

  254. Anyone tried olintja.com lately? Redirects to the Herald now.

  255. I thought a Bushmaster was a poisonous snake?

    Jay and Mike D,

    Like Nocotec and others you are always careful to refer to OLINT as a Ponzi and not the money laundering scheme.

    Certain law enforcement and other agencies and even criminals do not place so much resources out a road for a ponzi…even if the ‘ponzi’ worth 50 billion.

  256. MikeD:

    Guess I’ll hear from you in the morning because the library is closed now…but I ask anyway, are you connected to Nocotec?

    • its amazing to see the turn of events from the past year and a half !!

      If anyone here trades markets successfully, please post any kind of useful links that entail profitable strategies.

      I have seen thousands of techniques, indicators, and systems. I am always willing to learn more.

      Thanks

      Good luck to everyone in here

  257. Latibeaudiere tells all next Tuesday morning on power 106?

  258. “Good luck to everyone in here2

    Can’t happen it’s criminals and the rest. Mutually exclusive.

  259. Tafari,

    Good evening,
    Hope you are doing well

    I have been studying to trade forex markets

    So much material is out there, so many websites, but unfortunately there is so much nonsense as well

    would you be able to suggest some “beneficial” techniques / trading strategies, etc…?

    I am looking for profitable and professional strategies

    appreciate your time
    Thanking you with kind regards

    V to the J

  260. If I say Matress you vex. Love listen to best and brightest and World Class…see it deh:

    http://www.earthtimes.org/articles/show/fitch-downgrades-national-commercial-bank-jamaicas-ratings-outlook-negative,1072426.shtml

  261. V to the J:

    I hesitate to suggest any FOREX trading strategies. I will, however, warn you that there are many scams out there. Be wary of any website or group that seems too anxious to offer you “free” trading tips. Most of these guys are just trying to sell you their package.

    I think you have made the first mistake though. I would strongly advise against looking for FOREX tips on the blogs.

    If you are new to FOREX, remember this one thing: about 90% of everyone who attempts to trade will lose.

  262. Hey Floridian:

    Bushmasters have a reputation of being a territorial snake too. Encountered a few in the “cuna” grass in Panama. There were lots around Empire Base Camp…..Ugly creature.

    You know what? I was told sometime ago that they can also be found in Trinidad.

    Isn’t that where Martinez was headed next? Panama, Trinidad, Bushmaster…ugh…….

  263. Outlook negative………..Jamaica making progress.

    You know what Jay and Nocotec? You should establish a blog to warn the world about Jamaica. Good samaritans, right?

  264. Jay:

    What are you managing on the FOREX market? 0.001% per year?

    Well, you don’t believe in a ponzi…..la la la la la la….

  265. Jay:

    Try the EUR/USD……you’ll be surprised……

  266. Jay:

    http://www.sunheraldja.com/2009/11/pm-assures-creditors-jamaica’s-debts-will-be-paid/

    You could help out the PM. Trade late night..the market be tired then (lol). You could make 10% fe help out yuh country…..better still, call in DS.

  267. Tafari Francis, on December 3rd, 2009 at 6:44 pm Said: ….”MikeD: Guess I’ll hear from you in the morning because the library is closed now…but I ask anyway, are you connected to Nocotec?”….

    Tafari:

    I trick the library personnel. Just before closing time I slip into the bathroom, now I’m locked inside and have all the computers to myself until morning….

    Connected to Nocotec? Yes, one of the 12-disciples. We work at the same place…FSC or is the Bank of Jamaica? I bet you believe in UFOs…no, not unregulated financial organizations (we know you are a firm believer, since you “divested” US45K of your disability money), the real deal.

  268. If we sound like the harbingers of gloom and doom it is not intentional, but it is inevitable within the context of the several desperate issues here that simply won’t go away, unless those in the position to do so do the right thing.

    And no amount of dressing up or posturing can fix it, for one way or another, the truth will come out.

    Those who have no moral business in the portals of power, who are clearly unworthy of the positions they hold, will, like so many others before them, be dethroned, defrocked, demoted.

    http://www.jamaicaobserver.com/editorial/As-the-PAJ-goes-on-show

  269. Well Tafari is giving forex trading tips. I am not sure I would take any tips from someone who lost his shirt in a forex scam which he still believes can sustain 10% per month.

  270. USA wants names of Stanford Investors.
    USA soon will be asking for names of Olint American investors- TF man you going to be in trouble with uncle sam now. (Tax evasion).

    http://www.reuters.com/article/idUSN021996620091202

  271. Yeah Jay…what are your numbers?

  272. In the short while that I’ve been on here, it has been very entertaining. One thing has become clear is that many on this blog care very little for the truth.

    Oh the lies they tell.

    Well MikeD, what is your motive?

    Jay: What are your numbers?

  273. Hey Jay..do you not yet realise that the scam worked?

  274. Jay:

    If it turns out that Mr. Chin was running a ponzi all along, what are the chances he will ever be charged in Jamaica?

  275. soon Jay? you late. Well late.

  276. Jay…comeon man, lets make a meaningful difference to the Jamaica Labour Party’s success. We need to trade to gain 10% to pay down Jamaica’s debt.

  277. 257 pips this morning Jay…Big movement. On target for 10% today!

    Think I am going to bail out the Jamaican economy when I’m done here….

  278. David Smith said the same thing.
    Capital Blue said the same thing

    How did it all end. ?

  279. @ V to J,
    for some tips or links check this link, some fulltime traders post there now and then.

    http://invest4life.wordpress.com/fx-traders/

  280. 2009 will undoubtedly go down as the year that the most financial fraud and ponzi schemes were ever discovered and prosecuted.

    When added up I reckon that over the 12 month period from dec 2008 to now, investors all told have lost over $120b due to crooks posing as financial experts

  281. Superplus gave workers bounced check.

    Cash Plus owner is charged for fraud and issuing bounced check.

    Superplus has issued repeated bounce check to its workers, why are they not charged for fraud ?

  282. Jay:

    You must not be very good at trading….You are losing yoour money so why do you still trade? You are greedy and stupid!

  283. Jay:

    If it turns out that Mr. Chin was running a ponzi all along, what are the chances he will ever be charged in Jamaica?

    Eh Jay?

  284. @ TF poor soul, keep on searching for a sustainable 10% per month investment. You will soon become the victim of the next ponzi scheme that come your way.

  285. i wonder what Leeching and David smith have in common? hhhmmm let me think..hmm

    Need a brains like Nonco now

  286. @ CullKull,

    Re: Superplus “repeatedly issues bounced cheques” if true and the company does not make good on these cheques, then they can be charged, but only after a report has been made to the fraud squad.

    In C+ case, they never made good on these cheques, hence their was criminal intent of the part of C+boss resulting in him being charged. (After report was made to the police)

    Anyone can issue a “bounced” cheque, however it could be a “honest” mistake and hence a fraud charge does not necessarily have to be filed.
    Its typically done when there is no action on the part of the person who has issued such a cheque to make good on his obligation, which ultimately leads to a report being made to the police fraud squad and thereafter fraud charges made.

  287. Bwoy Tafari head tuff iyah!

    Your comparison between Olint and Lee Chin is nonsensical to say the least, so I won’t even bother to answer the question that you have asked.

  288. What if Jay? Surely you can wrap your no-talent trading brain around that concept, right?

    WHAT IF it turns out that Mr. Chin really can’t pay now because he has been using Peter’s money to pay Paul?

    Do you think he will ever be charged in Jamaica?

  289. What;s that crap about making reports to the fraud squad Jay?

    Is that the squad that perpetuates all the fraud in Jamaica? Surely the must be because they do NOT investigate fraud.

    But that said, isn’t issuing a bounced check ONCE a crime in Jamaica? Do you have to do it repeatedly for it to become a crime?

  290. Jay, on December 4th, 2009 at 12:02 pm Said:

    @ TF poor soul, keep on searching for a sustainable 10% per month investment. You will soon become the victim of the next ponzi scheme that come your way.
    ////
    That is the fall back insult now? Had I 10% of a penny for every time you said that, I wouldn’t need to be the victim of a ponzi….I would be rich.

    So get that out of your system Jay…Wanna say it 10 more times and you’ll be good…..TF is looking for the next 10% investment…he will be the victim of the next ponzi….

    Ok…That one is dead.

    Let’s move on.

    So what are we doing about getting the government to repay the stolen funds to olint investors?

    What are we doing about filing charges against David Smith in Jamaica?

    What are we doing about assisting the liquidator and olint creditors to freeze the funds in Jamaica?

    What are we doing to clean up our act in Jamaica, ending the corruption.

    What are we doing, good samaritans that we are?

    What are we doing besides trying to convince the IMF (as if they are idiots) that we are going to clean up our act while trying to sweep corruption under the rug?

    What are we doing to remove a prime minister who meets with a person charged with a felony for fraud, while assisting that person to hide the stolen money?

    What are we doing besides attacking the victims of the fraud?

    What are we doing Jay?

    What are we doing?

  291. Tafari Francis, on December 4th, 2009 at 7:47 am Said:

    Jay:

    If it turns out that Mr. Chin was running a ponzi all along, what are the chances he will ever be charged in Jamaica?
    /////////////////
    Jay, on December 4th, 2009 at 12:22 pm Said:

    Bwoy Tafari head tuff iyah!

    Your comparison between Olint and Lee Chin is nonsensical to say the least, so I won’t even bother to answer the question that you have asked.
    /////////////////

    Can anyone see where Tafari made the comparison between Olint and Lee Chin?

    Telling lies must be second nature……

    Anyway, now that you see the light, how about attempting an answer? Just the what if part……A man who establishes a blog with such noble intentions and high aspirations could surely answer such a little what if, right Jay?

    Credibility Jay. I heard that word played lots of lip service here………Let’s have it. What do you think?

  292. Jay:

    There is a difference between believing and knowing, do you agree?

    I am watching a gentleman trade daily and sustaining well over 13% monthly for the past 7 months.

    I am a mere learner, still bouncing around a little bit between trading strategies and managing to sustain 9% or so for 6 months (not counting the first few months).

    My wife manages 4-6% per month, dipping below zero only one month in 5.

    You are a trader. I am sure that if you were losing you would quit, right? So you are “winning” would be the assumption. If you can only manage to sustain 1%, that is because of your limited capacity, not because it isn’t possible to de better.

    You see, when all you had was the 10% number from Olint, when you were fixed on discrediting his scheme at all cost, you told pople that it was not possible to be successful trading on the FOREX market.

    You won. Not because you were right about that. You won becaus ethe guy is a darn thief.

    But you have to keep the story going, right? Scared people will know that you had a motive all along?…Guess what. Everyone knows.

    No one believes that you blog about Olint to save the poor suffering investors Jay. The cat is out of the bag.

    The guy was running a ponzi. he wasn’t even trading so that is mute anyway. But cut the crap about what numbers are sustainable and what is not.

    A good, disciplined, experienced trader can do much better than 10%. Maybe not consistently but could average well above that.

    So cut the crap!

  293. 10% per month…talking bout ‘out of prison’ for a minute…and sustaining that…

  294. on the news, Superplus is saying that they are waiting on the proceeds of the sale of the supermarket to pay the workers, but that is taking longer than usual to materialize.

    yet they are issuing checks to the workers as redundancy payment.. to me that is fraud, if you do not have money, then you should not issue checks on the basis that you expect to have money.

    they are obviously in a cash crunch and are probably using the sale of the supermarkets to pay off Lee Chins bondholders to the detriment of their workers , who are left with bad cheques.

    • CullKull thats a fraudulent act, but the police will not move against those issuing the cheques unless a report is made.

  295. @ tafari

    A good, disciplined, experienced trader can do much better than 10%. Maybe not consistently but could average well above that.

    We can dabble in theory, and in theory, he could also do 50 % per month consistently, or even 100 % ,, because there is no evidence in theory to show that this is not possible.

    but the reality is that no one has ever demonstrated 10 % per month consistently on a significant sum ( say > $50,000) for a period > 2 years…

    so then that becomes a reality, and we will say others are impostors, not because it is impossible, but no evidence has supported it, … ( everybody claims to know a friend/uncle/cousin/whatever who does greater than that, but when it comes to proof, it is a different story)

  296. Use UDC check and pay.

  297. Well CullKull:

    I agree. But we will soon know. I am playing with the house funds in amounts very close to the sum you quoted. So I will know for sure.

    In the meantime, maybe Jay could tell us what his numbers are. That way, it will be the gospel truth…remember, anything Jay says has to be true. he created the blog.

  298. The theory was Cull, that DS was a great trader. As it turns out the guy wasn’t trading at all.

    That apart, there are individuals who do pretty well trading. But these are very few. As said here before, most will lose their panties…ask Jay.

  299. Too complex for McIntosh?

    Supreme Court Judge, Donald McIntosh has struck out an application by Western Hanover MP, Ian Hayles to dismiss the claim made against him in his dual citizenship matter.

    This means that the allegations that Mr. Hayles held dual nationalities at the time of his nomination in 2007, is to go on trial in the constitutional court.

    However, Justice McIntosh has granted leave for Mr. Hayles to appeal the decision to throw out the application seeking to dismiss the matter.

    According to the judge, the case involves complex legal issues.

    http://go-jamaica.com/news/read_article.php?id=14953

  300. Tafari Francis, on December 4th, 2009 at 2:45 pm Said:

    Well CullKull:

    I agree. But we will soon know. I am playing with the house funds in amounts very close to the sum you quoted. So I will know for sure.

    ——————-

    the thing is, we have heard the promises before… I was not being specific to David Smith, I was referring to pretty much the whole world.. everybody seems to tell us that the money can be made, but no one has showed us.. and even when they seem to show, it turns out they falsified the reports.

    I remember story of David Smith showing profitable trading with multi big screens to the big wigs to convince that all was well, which just turned out ot be false.

    on the internet, anybody can say or lay claims to anything..

    if I wanted, I could just say I was trading 25 % for the last 2 years on a 100K account, with the right amount of PR and whispering to the right circles, you can easily have another financial wizard on paper.

    if you achieve, get it audited by PWC, KPMG or some relevant persons and then post that. otherwise, it is all hot air ( although Madoff and Standford had buy out their auditors, so even that process is suspect)

  301. @ Tafari

    just for clarification.. are you using a demo account or a live account ?

  302. Cull:

    I used a demo account for a few months then I started small.

    I kept it small for a while to develop the discipline. I was fortunate in that I had the guidance of a brother-in-law who has been doing this for years.

    Do you trade? If so, are you having any success?

  303. Cull:

    Ponzi schemes are not used to FOREX. Thieves used various methods to scam people out of their money.

    I just read a story about a guy in NY who bet against the banks during the recent era of the real estate boom. That guy made billions…billions with a b.

    But he wasn’t trying to scam anyone. What if that guy had come to you and say (as he did while raising funds for his venture) I stand to make billions. Will you front me 2 million dollars? Would you? Or would you say…that guy is running a ponzi?

  304. That should read..Ponzi schemes are not UNIQUE to FOREX

  305. no. have never traded. watch the scene for a year. heard that David Smith was a guru. top 5 trader. so I went in. made some money.. felt good..

    then began to hear rumours, defended him ( actually was defending my money)..

    then money stopped coming in, so I then started to check out the stuff for myself…. all my links who swore they knew him, never really know him or hear second hand..

    never saw any proof that he was a top 5 trader .. yet it was being bandied around that he was in the top 5..

    so I joined the old blog, was kicked off for questioning the status quo.. came here.. realized that he took us for a ride… and moved on with my life. still visit the blogs ever couple of months.
    if you do not move on, it will ruin your life. People who post here everyday will slowly become nutcases without knowing it.

    still have friends who get introduced to forex and act like they discovered the wheel. and spout the 10 % is possible because I know X or Y or did it… the same claim was made by the 59 companies listed by the FSC and all failed.

    my research shows that to date anyone who boasts 10 % per month is a Ponzi . The 10% does not make it a ponzi by definition, just that history and evidence of the predecessors supports it being a ponzi.

  306. Cull:

    I get you. I;m still trying. I’m trading with the house money now. But if I start losing, I’ll give it up quick. It seems though that I am getting to understand more and more about the market.

    I wonder what number Stanford Madoff and Rothstein used.

  307. Note to Editors: The vast bulk of the money consists of taxes on customer’s winnings, which have not been remitted to Treasury.

    Closure of Player’s Club

    http://www.tcijournal.com/index.php?idsub=2139&id=8

  308. Shortage of stolen money from OLINT investors causes strain for criminals

    Economic activity in the Turks and Caicos Islands has virtually ground to a halt. There has been a sharp decline in imports and customs duties because of limited activity in the construction sector. Tourism, the country’s main revenue earner, is experiencing an unprecedented downturn because of poor hotel occupancies. There has been a significant increase in unemployment especially in the construction sector and the numbers of jobless are expected to rise because plans are afoot to streamline the Civil Service.

    http://www.suntci.com/index.php?p=story&id=569

  309. Thefts also increased by 42 per cent from 225 to 319 with a detection rate of 16 per cent. Twelve of the thefts were committed against tourists.

    The majority of crime continues to take place on densely populated Providenciales which accounts for 72 per cent.

    http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=1756&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com

  310. Once Deacon moved there the neighbourhood gone to the dawgs

    Economic activity in the Turks and Caicos Islands has virtually ground to a halt. There has been a sharp decline in imports and customs duties because of limited activity in the construction sector. Tourism, the country’s main revenue earner, is experiencing an unprecedented downturn because of poor hotel occupancies. There has been a significant increase in unemployment especially in the construction sector and the numbers of jobless are expected to rise because plans are afoot to streamline the Civil Service.

    Businesses and individuals are owed millions of dollars by the Government which is unable to pay many of its bills including utilities for Government departments and rent for commercial spaces. Three state-owned sports facilities, including the athletic track which hosted the successful CARIFTA Games 2007 have been closed because the water bill has been unpaid for months.

  311. OLINT ‘Clients’ of note

    Bertram A. Hill II
    Bertram Hill – Doxa Management Group LLC.

    Charles Ross- Sterling Global Funds.

    Chester Stewart – Regency Capital

    JMMB – Cambio Account
    JMMB/Fund Account

    Michael Alberga- Dextra Bank and Trust

    Peter Playfair-Scott – US Matrex Inc

    West Indies

    Akshai Mansingh
    Gareth Breese

    (no wonder their not doing to well past few years)

    JPS Employees Co-op Credit Union?

    Harvard MBA’s

    Marguerite Orane

    Plastic Surgeons, Jamaica and Commonwelth Scholars, race car drivers, lawyers and several LAW FIRMS, former leaders of Jamaica and family, National hero grandson. Cricketers, JDF, Police, ‘Investment Bankers’ and ‘senior managers’ Gangsters, session promotors. Old time drug dealears…new time drug dealers. Security Companies. lotto operatiors, chicken growers…fried chicken sellers. Financial analysts who we hear on the radio every day ..who hahaa..never mention OLINT…Foreign financial analystis (From Kellog Business School) Tv presenters, Feeder club operators..Trade Unionists.

    soothsayers like Phillip Phinn, Rex James- First Cleaning House. Pastors.

    Cold as ice you are Deacon…what a lot of fools?

    Deacon the list should adjust to show who was favoured for payouts and why….each and every one

  312. Cull Former head of Jamaica Trade and Invest

    what a lot of fools ehh Cull?

    All playwrite. Bookstore…

  313. Th 10/4/2007 8:31 AM

    From: bt@swannlaw.tc (Brian Trowbridge)

    To: Jacob Martinez
    Cc: dsmith@kasnet.com

    Jacob

    i need urgently to see the NFA Complaint

    I have soom experience with the NFA and frankly they scare the heck out of me!

    Brian

  314. http://caribdaily.com/article/129130/court-rejects-request-to-freeze-olint-money/

    Remember this guy?

    Remember that NCB fought to close the account/s but fought to keep it open when they won the right to close it?

    Ever wondered why?

  315. National Commercial Bank (NCB) has closed the accounts of the collapsed investment club OLINT Corporation.

    This is in keeping with a Privy Council ruling in January which overturned last year’s Court of Appeal decision which prevented NCB from closing OLINT’s accounts.

    NCB’s General Legal Counsel, Dave Garcia, on Thursday night confirmed that the funds in the accounts had been turned over to OLINT.

    He however declined to say how much money was involved.

    “Yes I am able to confirm that we have closed OLINT’s accounts some weeks ago in accordance with the Privy Council’s decision in January and we issued cheques to OLINT and dispatched those cheques and we believe they were delivered to OLINT’s attorneys,” said Mr. Garcia.

  316. It states further that the judge said the serious issue was: “Can a bank in Jamaica in the 21st century, by merely giving reasonable notice, lawfully close an account that is not in debit, where there is no evidence of that account being operated in breach of the law?”

  317. Comeon, stop the blocking…

  318. “Your” Money?

    Jacob Martinez jacob@markettraders.com
    Thu 10/5/2006 %:53 PM

    David,

    We sent the article to Peter to be published for tomorrow…hopefully it goes in the paper.

    On a side note, after going through the records, your Power of attorney for MTI to trade your money needs to be resent and more legible. try the scan, or I’ll send you a self address envelop to send it to us….let me know.

    Talk to you soon.

    Regards,

    Jacob N. Martinez
    Market Traders Institute, Inc

  319. Uncle Jacob, Uncle blackwell

    Get Ready…

  320. Bondholders had three options to consider, the first, to accept Lee Chin’s offer, the second, to take shares in NCB and the third is to give instructions for the shares in NCB to be sold.

    “Things are tight and Lee Chin has his back to the wall. He has been unable to divest assets and that has put untold pressure on him. He is a sweet talker and it will be interesting to see how he deals with this one. It makes sense to acccept the offer and monitor the situation. Putting pressure on the main performing asset makes no sense. He needs more time and may well have to settle for a fire sale, still there weren’t too many happy people here today,” said an attendant at yesterday’s meeting.

    Another said: “Promises, promises and none have been kept. Lee Chin’s reputation is taking a battering because he cannot be taken at his word.

    June came and went so to did November. He said he had a Plan B, well where is it? It has been said that he is overleveraged, overexposed and too diversified. It makes one wonder as the lustre is beginning to fall off”.

  321. Jacob Martinez jacob@mtioffice.com

    Wed 9/5/2007 11:13 AM
    To: David Smith

    Hey David,

    This guy Stanley keeps calling me wanting me to give him your number. I’m noting giving it to him, but below you will see his number if you are interested in calling him.

    He wants to speak with you about setting up more funds

    Talk to you later

    Congratulations for JLP! Call me when you get this

    Jacob Martinez
    title: Vice President
    Market Traders Institute

  322. Back in September Lee Chin told Caribbean Business Report: “I closed the sale of AIC’s Canadian mutual fund business to Manulife. That was my plan B. November will come and I will be in a position to honour all the bondholders. I always have a plan B and I always honour my commitments.”
    //////////////////

    Sound alot like our friend….

  323. RSI you are in trouble. How dare youo post a link to that article here? Trying to give Nocotec and Jay a heart attack?

  324. Another said: “Promises, promises and none have been kept. Lee Chin’s reputation is taking a battering because he cannot be taken at his word.

    June came and went so to did November. He said he had a Plan B, well where is it? It has been said that he is overleveraged, overexposed and too diversified. It makes one wonder as the lustre is beginning to fall off”.
    //////////////////

    Lee Chin or David Smith? Can’t tell the difference……

    Jay where are you?

  325. How much was Lee Chin giving? 12%?

  326. Jacob Martinez jacob@mtioffice.com

    Thu 6/14/2007 4:37 PM
    To: David Smith

    Hi David,

    Call me when you get this so we can discuss Trinidad. We’ve already been in communication with Norris (Donya’s dad)

    Talk to you soon,

    Regards
    Jacob N. Martinez
    Market Traders Institute, Inc

  327. John Wildish wildish@express.tc

    Tue 9/18/2007 2:31 PM

    To: Gregory K Vernon Bear Stearns

    Greg

    I will be glad to respond to any concerns your legal team has concerning any matter they may feel I have done wrong in. Concerning the 1993 Bank of Jamaica bounce check issue, from 1993 till today I have been asking the Government of Jamaica to outline to me in writing what they think I have done wrong. This includes letters right up to the Prime Minister, to date I have never recieved any reply from the Jamaican’s.

    Now with the concerns your legal department has let them write them down and I will be glad to respond to them. If they are not willing to be open and frank with their concerns then they are not men of integrity and it is wise not to do business with men such as this.

    Your Sincerely

    John Wildish

  328. Lee Chin bondholders have claim to a sizeabale portion of NCB shares if the choose to accept that offer, they did not.

    Lee Chin is no doubt in a lot of trouble as he has technically defaulted on his bond payments.

    In business things do not go as plan, but the attempt to somehow equate Lee Chin Biz with that of David Smith’s ponzi scheme is absolutely absurd.!!

    Tafari – get a grip man, you are losing it. 🙂

  329. Sasha Harjani sharjani@coolcorp.com
    Sun 1/13/2008 5:55 PM
    To: David Smith, Tracey Smith

    USIMO_TCIFX.doc (47 KB)

    David,

    Please see attached the proposed document showing a contracted service between Usimo and TCI-FX. Go over it and let me know if you think it is suitable and would meet the requirements on Jared’s side in terms of directly wiring to Usimo. also let me know which of your companies it should ideally be with, beit Olint Corp, Olint TCI or whichever.

    Trying to touch base with you on another matter so call me on my cell whenever you get a chance please.

    Thx

    Sasha Harjani
    Cool Corp

  330. Deacon, don’t hear from you this time time you want us to get wid you?

  331. RSI

    Pressure mounts on Lee Chin

    Is that an Al Edward$ piece?

  332. Dem seh dem wat see Leechings emails…craven puppy dem. When the time is right.

  333. Jacob Marinez jacob@markettraders.com

    Tue 1/16/2007 5:20 Pm

    To : David Smith

    Hi David,

    thanks for the email and the chat today. Because it is a TCI FX Traders account, your request needs to reference only TCI FX Traders. Something to this effect.

    Please divide the $20,000,000 USD Deposit into 2 accounts. One with $914,823.60 and the balance to be in a separate account for Market Traders Institute, Inc. to have limited power of Attorney for Trading Purposes only, as outline in the signed ItradeFX Limited Power of Attorney.

    Once I get that I’ll give you a call and allocate the
    Money.

    See you next week.

    Regards,

    Jacob N. Martinez
    Market Traders Institute, Inc

  334. Bondholders put Lee Chin under pressure – JamaicaObserver.com
    26 Nov 2009 … Bondholders put Lee Chin under pressure. By Al Edwards. Friday, November 27, 2009. Holders of AIC (Barbados) notes were yesterday informed …
    http://www.jamaicaobserver.com/…/20091126T200000-0500_164612_OBS_BONDHOLDERS_PUT_LEE_CHIN_UNDER_PRESSURE_.asp

    don creary doncreary@gmail.com
    Tue 2/27/2007 8:38 AM
    To: David Smith

    Tried getting you yesterday. I am having fun with the news out of Trinidad about Lee-Chin. Apart from getting all the electronic media houses to carry damning reports based on the Trinidad Express article, I got his station (CVM-TV) to do the most damning of all! (LOL) His editor has resigned and is in his last week and was only too glad to oblige me and rip Mike. It’s called PAYBACK for his comments about you. Wi nuh play.

    Secondly the same editor has carried very positive stories, 2 days running, about FX Trading and used footage of Ralston Hyman, Our latest media convert, Jared and economist John Jackson declaring FX Trading to be sustainable. PR wise, the last few days have been great. I will send you tapes.

    Al and Mark have big pieces this weekend as well. Remember the Court Judgement that I need.

    One love
    Don

    Al Edwards on Leeching? What Dennis (Olint) Chung on the way Jamaica should go? olint minister this and olint minister that? MOTTY? The thinking per$on$ talk show?

  335. Absolutely absurd Jay?

    really?

    Remember I am stupid!

  336. Defending your boss Jay?

  337. The promises to pay just sound alike Jay…don’t you think?

    Next release would be Lee Chin asking for 9 months……

  338. Put the money under the Matress…demand all you bond money..cash them out…do want to pat a penalty for early encashment? Sure go ahead and wait till the various maturity dates…go ahead

    Jay and Nonco will ridicule you till kingdom come if you lose from the paper investments.

  339. http://www.jamaica-gleaner.com/gleaner/20090605/business/business1.html

    No wait Jay. He wanted 5 months.

    Wonder why he was so pissed at David Smith?

    Thief never like to see thief with long bag….

  340. Jay, you think the Cash plus Liquidator (Santa Claus) been trying to get Bertram Hills money that is in OLINT?

    Santa Claus mix up sorrel some weeks ago. the Cash plus revolutionaries get exited but him throw the white rum from far.

  341. There is always next Christmas.

  342. At the three-hour meeting at the Terra Nova All Suite Hotel, Lee Chin told his creditors he has come into some cash from dividends paid out by National Commercial Bank (NCB) Jamaica Limited, as well as his unspecified share of proceeds of a five-year US$450-million bond issued by Columbus International – parent company to Columbus Communications – at 11.5 per cent due to mature November 20, 2014.
    ////////////////////

    Jay, I’ll take that over DS 10% any day…11.5 eh? Is that the new ponzi number?

  343. In a new appeal to bondholders, the investor, whose AIC Caribbean Fund has just plunked down US$35 million for a piece of a condominium complex in Dominican Republic, said he could pay down 30 per cent of the US$155 million AIC Barbados bond debt by today, December 4, approximately US$46.5 million (J$4.2 billion), at a proposed rate of 12 per cent.

    Jamaican investors hold US$108 million of the bonds.

    The other 70 per cent, he said, would be redeemed by December 4, 2011, at the same 12 per cent rate, reflecting a premium on the remaining six US dollar-denominated bonds whose original coupons are 8.94 per cent, 9.0 per cent and 12 per cent.
    ////////////
    Jay…hey why take 11.5 when I could get 12%?

  344. Now Jay see?

    Are these Stanford bonds? Sound pretty high…Anyone say ponzi?

    Someone should really investigate…look a little closer at this guy.

    Remember Jay, this is the year of the ponzi……Care to take your own warning?

  345. Was it a mistake or did Finance Minister Audley Shaw reveal his party’s political strategy when he suggested on Thursday that there could be elections in less than three months?

    Shaw quickly backtracked from the statement, saying he meant within three years. As Shaw continued to speak, a member of the finance ministry passed a note to him apparently pointing out that he had suggested elections could be called in two and a half months.

    Shaw seemed confused for a few seconds and then sought to clear up the matter. He said he meant elections that would be held in more than two years, at the end of the Government’s five-year term.

    http://www.sunheraldja.com/2009/11/was-it-a-slip-of-shaw%e2%80%99s-tongue/

  346. Lee Chin has limited room to manoeuvre in these negotiations. If he plays hardball, he stands to lose up to half his remaining 62 per cent interest in the ultra-profitable NCB, from the 877 million shares pledged as collateral for the bonds.
    /////////////
    Jay:

    What went bad with the bonds? Was this a case of paying Peter with Paul’s money?

    You say no, rigght?

    I say show me the proof.

  347. Smith, it is alleged, has withdrawn some $20 million from a local securities dealer recently in order to help defray his expenses. This led to howls of protest from the company’s creditors, agents and staff.

    The Financial Services Commission (FSC) was called-in to investigate the matter and warned local securities dealers to seek legal advice and counsel, as well as to make contact with the agency before disbursing any more money to the beleaguered Smith.

    http://www.sunheraldja.com/2009/11/clamp-on-olint/

  348. Mr. Chin may have been trading in the Forex market to come up with that 12%…..

    What went wrong Jay?

    He learned from MTI?

  349. Jay, Nonco, John doe

    How can the people of Jamaica get a guarantee from the IMF, that funds issued in their names does not get funnelled to Deacon David Smith to be ‘traded’ on the Australian model?

    Is the country protected against such a folly?

  350. @ Floridian , lol to your last comments 🙂

  351. 1/5/2009 6:14 PM

    We are in possesion of two cheques drawn in favour of David and/or Tracy Smith in the amounts of $772,122.09 and $US8,925.71 respectfully. these cheques which were issued in August by NCB Capital markets are in danger of being stale dated. Please therefore make arrangements for their urgent collection.

    Regards

    Huntley V. Watson

    Who gave NCB or Huntley Watson permission to give their money to David or Tracy Smith?

    Ohh?

  352. Deacon how you come to hook up with wendy Williams again? Oh yes …that file is clear as day.

  353. Jason Williams on the list …yes…full hundred in the court arena Deacon? The crowd watches with bated breath…

  354. You had WW and JJ and another one in that pod…ahh oh yes…strech the memeory a little. You never knew them then Deacon.

    Who could forget Jewel2sell email? Whooa. talk about criminal deception.

  355. Deacon you know who also used to have Jewel to sell? go over the golf course and ask her.

  356. Every transaction that has resulted in the theft of hundreds of millions of dollars of land, of the destruction of our labour market by the importation of cheap slave like labour, of the laundering of monies, of gaming the customs and duty taxes, has required that an attorney be there as a key facilitator.

    https://investforlife.wordpress.com/2009/11/27/david-smith-withdraws-20m-from-local-accounts/#comment-22408

  357. Several public servants ignore calls to declare assets
    Saturday, 05 December 2009
    More than half of Jamaica’s public servants who are required to make declarations to the Commission for the Prevention of Corruption are delinquent.

    http://www.radiojamaica.com/content/view/23429/26/

  358. He says the government’s immediate response is necessary to halt the mounting lack of confidence in the undertakings of the present administration.

    http://www.radiojamaica.com/content/view/23430/26/

  359. Hey Floridian:

    Can you confirm that the money he withdrew was US 20 mil? Word is it was 20 Mil JA.

    The 62 mil remaining seems to be 6 Mil JA.

  360. Madoff ysed his legitimate businesses to hide his billion dollar ponzi scheme.

    Is anyone looking into Lee Chin’s business dealings?

    Jay, what went wrong with the bonds? Did the ponzi money run out?

  361. Hey Nocotec, where are you? Just when we need a good lecture on Mr. Chin’s dealings, you are nowhere to be found.

    I’m sure you have a ten-page post for us when you become available, right?

    So tell us, doesn’t Mr. Chin Chin’s peomises sound just a little like DS? Five months, now the sale didn’t go through. How did the sale not “come to fluition”? Due diligence?

  362. Good samaritans of the blog:

    The people dem nah happy. What warnings/advise do you have for these investors?

    /////
    “Things are tight and Lee Chin has his back to the wall. He has been unable to divest assets and that has put untold pressure on him. He is a sweet talker and it will be interesting to see how he deals with this one. It makes sense to acccept the offer and monitor the situation. Putting pressure on the main performing asset makes no sense. He needs more time and may well have to settle for a fire sale, still there weren’t too many happy people here today,” said an attendant at yesterday’s meeting.
    /////
    http://jam.live.mediaspanonline.com/Pressure-mounts-on-Lee-Chin

  363. Matress?

    Downgrades could force financial sector to dump GoJ securities

    Bruce Bowen, president and chief executive officer of the Scotia Group says his group wants to reduce the heavy weighting of Government securities from the current 50 per cent through the provision of more loan facilities to the productive sector.

    http://www.sunheraldja.com/2009/12/downgrades-could-force-financial-sector-to-dump-goj-securities/

  364. NCB Capital Market has been forced to cut back on a deal to provide a $3.1 billion loan to the national airline, Air Jamaica, because of less than favourable market conditions.

    http://www.sunheraldja.com/2009/12/ncb-capital-markets-cuts-back-on-air-j-financing-deal/

    Cut a cheque and deliver to Huntley V. Watson payable to David Smith. Huhh…the money DOES not belong to NCB Capital Markets or to David/Tracy/Wayn/Edith Smith.

  365. or to Brian Trowbridge either…

    They must be holding it in safekeeping for the rightful owners…. earning some interest too…

  366. This mammoth task needs a greater level of technical competence and a leveler head at the Ministry of Finance and these are not attributes the current minister possesses. He must therefore be removed.

    There is enough evidence to support the above conclusion in terms of his poor responses to the global crisis, the delays in approaching the IMF for assistance, missed deadlines to complete this vital agreement, a record seven consecutive downgrades, several missed budget targets and the over 100 years in technical expertise which have been lost to the country because of the minister’s erratic behaviour.

    http://www.sunheraldja.com/2009/12/pm-must-replace-shaw-now/

    But Ralston Hyman don’t you know that David Smith and the Australian model once ‘activated’ will save the country?

  367. More agony for Olint’s clients

    Joseph P Connolly, liquidator of the David and Tracey Smith controlled, Olint TCI Corporation Limited says that investors in the Ponzi scheme will have to wait longer to find out if they would get back any of the over US$220 million, which they pumped into it.

    http://www.sunheraldja.com/2009/12/more-agony-for-olint%E2%80%99s-clients/

  368. A new report by Olint liquidator Joseph Connolly is showing Jamaica with 335 claims, as the highest number of claimants to funds in the collapsed Olint investment scheme. Up to November 15, the liquidator had received 1,052 correspondences from claimants.

    http://www.sunheraldja.com/2009/12/jamaicans-top-olint%E2%80%99s-claims-list/

    Tafari have you submitted your claim as yet. ? Hurry

  369. The second olint liquidator report has been out now for just about a week, will setup a new thread shortly .

    http://site.olinttciliquidation.com/uploads/Olint_TCI_Liquidator_s_Second_Interim_Report_-_Published_30_November_2009.pdf

  370. He also told investors that any distribution of funds would have to await the court’s advice on which groups of investors should be given priority.

    I thought there was no priority Nonco? Ehh Jay was it not said here again and again that it would be cents on the dollar across the board?

  371. Protectors jumping ship Deacon…shark out deh

  372. Following Olint’s money agents
    Article Published: Sunday, December 6th, 2009
    At least four organizations based in Belize, British Virgin Islands and Jamaica have been identified as agencies that were engaged by Olint and David Smith to act as collections and/or payout agents. These were Astra Apogee MZ and Usimo

    http://www.sunheraldja.com/2009/12/following-olint%e2%80%99s-money-agents/

  373. I guess there was some merit to my theory (posted some months ago) of feeder clubs using new investors money to meer redemptions requests and “stealing” funds in the process. Read:

    Family tricked
    Article Published: Sunday, December 6th, 2009
    The case of one family of 14 who invested approximately $3.9 million with an unregulated feeder organization, has revealed new evidence how some UFOs duped their clients in believing that their funds were invested with Olint TCI.

    ….”Liquidator Joseph Connolly, in his latest report said he felt compelled to report on what he described as a distressing case. Between January and June 2008, the family invested approximately $3.9 million with one of these feeder clubs. These funds were primarily the proceeds of an insurance policy inclusive of trust funds for children, one of whom has a serious medical condition. Connolly said while the principal of the feeder club advised the investors that the money was invested with Olint TCI, “from my search of the records in our possession, I have only been able to identify $675,000 as being invested in Olint TCI by this club and that was during the period July to November 2006.””….

    ….”Mini Ponzi schemes

    The liquidator said he contacted the principal of club involved who stated that he relied on the “strength of Olint’s statements” and that he would not necessarily make withdrawals from his “trading account” with Olint to meet redemption requests but would instead use the funds from new investors to maintain a float for his commercial bank accounts from which other (older) investors requesting redemptions would be paid.
    “…….

    http://www.sunheraldja.com/2009/12/family-tricked/

  374. Jay, you think Bertram Hill made a claim to Connolly yet?

    Seems to me that the tide flows out and not just the ‘poor suckers’ have to worry about lack of due dilligence.

    Ehh? Nonco?

    Where was the Due Dilligence from Mastercard LLC? People are supposed to trust in a Brand like Mastercard.

    What about Brian Trowbridge the Lawyer and international Banker?

    Why were people ordering Chinese food at the foundation meeting with poor people’s money…cold as ice.

    The relatives were flying around like taxi and Jacob Martinez and Smith off to ‘Vegas’???

    Deacon bought a house for his mother cash…look how many people have lost their homes?

    who gave Wendy Williams permission to sell Braemar that belonged to OLINT=Depositors??

    Nonco..long time we no hear from you.

  375. jay, on December 6th, 2009 at 12:11 pm Said: ….”The second olint liquidator report has been out now for just about a week, will setup a new thread shortly.”…..

    Jay:

    A more urgent thread might be “How the Mini Ponzi schemes Stole Our Money” 🙂

  376. Passengers for Kingston, Jamaica

    1) Gilbert Wayne Smith
    DOB – November 3, 1962
    Passport Number A2388638
    Expiry – February 2, 2015

    2) Yana Casandra Smith
    DOB – January 27, 1963
    Passport No. A2377014
    Expiry – January 13, 2015

    3) Edith May Smith
    DOB – September 12, 1929
    Passport No. A2376345
    Expiry – january 13, 2015

    http://www.olintja.com (Full list of all flights and passengers)

  377. Jay:

    What of it? Inquiring minds want to know your forex trading numbers as well as what went wrong with Mr. Chin Chin’s bonds? Anyone looking into the ponzi possibility?

    Jay, we are the stupid olint investors looking to you for answers.

  378. MikeD, on December 6th, 2009 at 1:34 pm Said:

    jay, on December 6th, 2009 at 12:11 pm Said: ….”The second olint liquidator report has been out now for just about a week, will setup a new thread shortly.”…..

    Jay:

    A more urgent thread might be “How the Mini Ponzi schemes Stole Our Money”
    ////
    Our money MikeD?

    See, now your slip ah show. How much did David Smith take you for?

  379. “Money laundering Ponzi” Mike D..practice

  380. @Jay (a better thread)

    A Call to Action (Editorial Series) – Do it or leave!

    Jamaicans have for decades complained about the state of our country – its poor economic performance, its poverty, its poor management, its crime, its violence. Many people have become fed up with the seeming inaction on the part of those we elect and the bureaucracy we pay to put things right.

    Things cannot continue as they are; certainly not in these exceptional times. In a series of four editorials, The Gleaner is calling Jamaicans to action, to engage in a debate on the kind of country we want to live in, and to hold to account those who have abrogated their responsibility to manage, and to insist on a radical overhaul in the way we conduct our affairs. For it can’t continue this way.

    http://www.jamaica-gleaner.com/gleaner/20091206/lead/lead2.html

  381. So many questions surround the selection of the commissioners for the FINSAC enquiry that we are hard-pressed to understand how the Government went about selecting the commissioners.

    http://www.sunheraldja.com/2009/12/inquisition-or-inquiry/

  382. The FINSAC enquiry plays a very important role at this time in two fundamental ways: The single role of the FINSAC enquiry is as a diversion.

    It is true that many countries are coming out of the recession while Jamaica is plunging deeper into recession.

    The other reason for the diversion is to call attention away from what Transparency International calls “state capture”. In its most recent findings TI has not only downgraded Jamaica on the international index of corruption, they have warned about the incidents of state capture, in which forces outside the Government play determinative role in setting public policy.

    http://www.sunheraldja.com/2009/12/finsac-commission-flawed/

  383. The liquidator also pointed out that a beneficiaries committee would be established at this meeting

    Good for you!

  384. I am calling on each everyone who has been rip-off by Olint and the feeder clubs to email me at olintripoffrecovery@yahoo.ca. Guys ,some of you have lost houses, cars, all your financial security, but you haven’t lost your soul. I was duped too and I am on the road to recovery , I can show you how. David Smith was looking out for himself, I am looking to help everyone and in the process i am helping myself too. there is strength in numbers, I look forward to hearing from you all. Let us Finally do something for ourselves not the bigman or the politicians.

  385. Hayden Boyce, local soothsayer, publisher of the TCI Sun and husband to Lillian Boyce, a former Minister of Health in the disgraced Michael Misick Government, had predicted hundreds would attend the “rent a mob” protest.

    http://www.tcijournal.com/index.php?idsub=2145&id=8

  386. Impressive group assembled to fight corruption here

    THERE were new signs of hope this weekend as the Trevor Munroe-led National Integrity Action Forum (NIAF) unveiled the names of some of Jamaica’s top political, business and civil society leaders to spearhead the assault on corruption here.

    http://www.jamaicaobserver.com/news/Impressive-groupa-ssembled-to-fight-corruption-here

    You must be joking. Check the resumes again. You want us upload them for you?

    • This group is a joke, another wasted think tank, who will waste months producing another set of worthless documents, which will gather dust.
      We already have the information we need to fight corruption, what is lacking is the “balls” to get it done.

      There is too much to lose by many who now only benifits immensely from corruption today, but seeks to keep it that way so they can reap the “rewards”.

  387. Well said Jay!

    But who are “the many”?

  388. I am an English and Jamaican national and live in Whyteleafe in your constituency.

    I am writing to you in connection with legal proceedings that I have had to commence in Jamaica in relation to an investment that I made in an investment club known as Olint. Olint was, and remains, under the directorship and control of a Mr David Smith.

    I, and others, have issued legal proceedings against Mr Smith alleging fraudulent misrepresentation by him in connection with his solicitation and management of the investment funds in Olint. I, for example, made an investment of US$800,000 which Mr Smith / Olint is now declining to return. It is for that reason that I have had to initiate legal proceedings. Such a sum represents a significant part of my personal finances. There are many other investors, including a number of other British citizens, who have potentially lost significant sums through the apparent fraudulent activities of Mr Smith.
    ////
    So what of that “legal action” in Jamaica Mr. Belcher?

  389. Olint sued in Jamaica

    Just last week, Smith issued a press statement urging members in Jamaica , to be patient as the club conducted an audit of members’ accounts and balances. Smith also said in the statement that all things being equal he would be able to start making payments to club members in another nine months.

    http://www.suntci.com/olint.asp

  390. So the legal proceedings in Jamaica were discontinued in exchange for a promise of payout in nine months…..

  391. IN THE CIRCUIT COURT OF THE 17TH JUDICIAL CIRCUIT IN AND FOR BROWARD COUNTY FLORIDA

    Plaintiff Belcher

    vs

    Defendant(s) Olint Foundation et al, Edith May Smith, Gilbert Wayne Smith.

    Case No. 08-51613 (09)

    Pursuant to Rule 1.200, Fla.R.Civ.P. this court orders a mandatory case management conference to be held in the Chambers of Judge Krathen, Room 1005, Broward County Courthouse, 201 S.E. 6th Street, Fort Lauderdale, Florida, on December 11, 2009, at 10:00 AM. Failure to appear as directed or to otherwise strictly comply with the terms of this Order may result in sanctions, including dismissing the action, striking any pleadings, limiting proof or witnesses, or taking any other appropriate action.

  392. …expidite discovery.

  393. The one in Jamaica dude…the one in Jamaica. Was it blocked or discontinued?

  394. Go in the court data and look it’s not difficult.

  395. Awsome dude.

  396. Can’t or won’t say? Doesn’t matter.

    There is so much in the pot I think unnu go geh bad belly…..

    But US $800,000.00? I hope you didn’t sell your house and wife and kids fe do that…..

  397. Jared’s book

    Jacob Martinez jacob@markettraders.com

    Mon 4/9/2007 11:33 AM
    To: David Smith

    Hey David,

    Thanks fo a great week. like usual, you really took care of us. Also tell Tracey thank you for taking such great care of Claudia she had a great time and says hello.

    Just a quick question regarding Jared’s book. i mentioned it in passing, but we never got into the details. here is what I wanted to tell you.

    Jared’s book has been a pretty powerful tool both in jamaica and world wide for educating the people about Forex and manging their life. Since you have such a wide base of clients throughout the Caribbean and Worldwide, we thought you’d may be interested in giving the book to all your clients (or to your most loyal 2500 clients, or whoever you see fit) as a gift. the book normally sells for $34.95 in the book store and $24.95 online. We can speak with the publisher and probably get the price down to $20.00

    Just a thought, let me know what you think or if you have any questions.

    See you this weekend in Jamaica and once again, thanks for everything!

    Regards,

    Jacob N. Martinez
    Market Traders Institute, Inc

  398. Limitations
    My ability to report on the operations of Olint TCI continues to be constrained by scope
    limitations that were noted in my First Report and in particular the lack of cooperation
    from Smith.

    http://www.olintja.com

  399. Jay, Noco and those who shared their stance on olint, I have to say, nuff respect, you were right all along. Final nail for me was driven this weekend.
    God have mercy on those who covered this up and stole peoples money.

  400. It is premature for me to indicate whether such a claim will be accepted, but, as the Court
    is aware, Hallmark is a co-defendant Of Olint TCI in the following cases which are
    before the Court. A judgement against Hallmark may trigger a formal claim against Olint
    TCI:
     Eatmon et al v Olint TCI et al, CL 154/2008
     Wayne Miller v Olint TCI et al, CL 68/2009
     Kurt Miller et al v Olint TCI et al, CL 70/2009
     Today’s Money Ltd v Olint TCI et al, CL 66/2009
     Bhoorasingh et al v Olint TCI et al, CL 69/2009
    The actions against Olint TCI are stayed given that the company is in liquidation

    http://www.olintja.com

  401. Subsequent to that meeting one member of the Committee resigned. The Committee now
    comprises:
     Mr. Brian Alberga
     Dr. Lloyd Goldson
     Mrs. Michelle Myers Mayne

    http://forum.jampersonals.com/Default.aspx?g=posts&t=1032

  402. The Privy Council held that the claim failed, first because Dextra had made no relevant mistake of fact, and second because the Bank of Jamaica had changed its position. On the question of the change of position defence, Dextra argued that the Bank of Jamaica were relatively at fault, and therefore their defence should fail. Lord Bingham and Lord Goff said in the course of their advice,

    “ ‘it has been well settled for over 150 years that the plaintiff may recover “however careless [he] may have been, in omitting to use due diligence”: see Kelly v Solari (1841) 9 M & W 54 at p. 59, per Parke B. It seems very strange that, in such circumstances, the defendant should find his conduct examined to ascertain whether he had been negligent, and still more so that the plaintiff’s conduct should likewise be examined for the purposes of assessing the relative fault of the parties.

    http://en.wikipedia.org/wiki/Dextra_Bank_&_Trust_Company_Limited_v_Bank_of_Jamaica

  403. Red Pppppeeee!

    That is very gracious of you. ‘Oh ye little faith’ So many have blocked justice for selfish ends…many continue to block justice….

    hey Red Ppppee…the Jury is still out on forgiving you and the prayers groups actions though…that hurt a lot of defenseless people….a full review of all the actions by a tribunal will take place down the line. I wish you luck.

    Maybe soon you get to see some things even the co conspirators don’t know about yet…wait and see?

  404. Are you encouraged by the seeming wagonists jumping on Jay?

    It intrigues me. the social aspect of the case always have.

    Have the corpus of the olint watcher’s matured? Are they ready? Can they stomach some real meat about Olint behaind the scenes?

    What you think Jay? Think John Public can manage what has been previously unseen?

    Let me know what you think Jay. Or should some things wait for court?

  405. From the Co-conspirators junior blog:

    4.Guru said
    December 5, 2009 at 8:19 am
    @Pissed

    Do you not realise why there is no comment on the other blog about the Lee Chin fiasco?

    Who do you think the guys on the other blog really are?

    They are Lee Chin’s guys.

    Get your money from Leeching…get your money from all over and ‘Keep and Hold” Under the matress for a while.

    Flridian said it right here Guru.

  406. LOL here…Has the Cash Plus liquidator,Mr. very wild man started to pay out the millions he “found” yet?

  407. @ Jay

    Well Jay I will admit that I had become more and more suspect as time wore on. However, and please dont take this the wrong way, I dont know you guys or your credentials, there had been so much hype, hearsay, he said / she said banded about that I really didnt know who or what to believe. So i was suspect of you guys as well.

    Recently I met a financial analyst, tops in his field, wont call his name but more than likely you will have heard of him, now his credentials I know and I know ppl who have worked with him, this guy is normally spot on in his analasys. We were talking about the whole Olint issue and he told me that from day one he pegged it as a ponzi and thought it completely unsustainable as managed forex and was highly suspect of it. He went on to say that he met Jared martinez and this guy having a wealth of knowledge about financial markets started to question martinez and asked him to back up his figures and he said that after much back and forth martinez admitted to him that he did approximately on average 10% per year!!The spiel about mekking a bag of mo doing fx etc just seem to be pure hype and PR to enrich martinez DS and his cronies. Now b4 tafari crucifies me re forex, I will admit I have a managed forex account that is audited and you can watch ur account traded live and this is def more realistic then DS. After having a massive month in august he posted sept and oct in the negative. Now thats the real deal. You can mek mo and lose it. Well there you have it.

    This whole affair has been one entire PR campaign to fleece people out of their money. It may not have started out that way but it definitely seems to have ended up as one big scam. What I find most disappointing though Jay is that evidently there were people in it who knew from long ago that things werent right and didnt say a thing. Didnt warn a soul except maybe their bffs. Truth is truth and should be spoken regardless of the outcome or concequences.

    I hope they all sleep well at night, may God have mercy on them.

    Peace

  408. The liquidator Hugh Wildman is reporting that his team has located just about US$25M ($J 2.2B) in a overseas account owned by Carlos Hill and his brother Brethram Hill, and that the funds have been frozen.

    In a gleaner article published today, Mr Wildman is reported to have said that investors could indeed have a merry Christmas if all goes well. This is indeed a big breakthrough by Mr Wildman and his team.
    ////////
    Remember this?

    I read these blogs and news stories out of Jamaica and I can’t tell who the crooks are.

  409. RedP:

    Tafari nah do that. Even the very experienced forex traders encounter these problems (especially when they are not trading their own funds). Failing to put in a pprudent stop when anticipating a big movement, for example.

    And you know what? it is estimated that 90-95% of everyone who trades will ultimately lose. Only the very disciplined succeed.

    What’s more is that the whole Olint Martinez MTI crap was/is a big fraud. Martinez makes more money selling his forex trading guide than he does trading forex.

    So you are still my friend…and mih nah talking to him…lol

  410. Mr. Connolly, you have shown your bill and collected charges through the TCI Supreme Court.

    Then you tell the people that the former Ms Bovell is on the committee?

    When does the crap end? Why not make Charles Ross the Chairman of the committee?

  411. What you say Jay? You don’t want the post as head of the committee?

  412. Tafari?

    Who the hell is David Newman?

  413. What a long way you have travelled Red Ppppeee!

    A little Nostalgia?

    Sis in law just gave me heads up after talking to wilshaw 5 mins ago.

    Not Bright.

    ALL and I mean ALL assets are frozen everwhere

    He cannot trade

    He is given a stipend $!00 US/day/head for living expense

    It is definately money laundering investigation

    He has lawyered up and will not talk about the business to anyone, not even close friends

    He will not disclose how much is in the fund

    He will not disclose anything

    There is no telling when the investigation will end, could be months or years

    He is depressed, dejected, fedup

    Thats all I got my friends, as bredda Floridian seh, A so me get it, A so mi give it. i am terribly sorry to be the harbinger of bad news folks, I was rally hoping for something different.

    Love
    RedP

  414. @ RedP.

    Well, well that’s indeed an interesting discussion between you and that analyst.
    Yes, there were many who knew it was a scam but since they were making millions from it, why warn anyone, afterall they would be told that ” dem a gwan like a only dem one want eat food”.

    I repeat that warnings did come from the FSC, Lee Chin. Mr Clarke, Wayne Chen and many other business people who predicted that it was a scam and would soon collapse.

    The facts are these people where called ” Bad minded”, and backstabbers.
    Many said the following ” Dem nuh want poor people eat food ,a dem alone want to eat. D bank dem a gee wi 3% per yr David a gee wi more than dat inna a month, bun d bank”.

    Emails were sent to boycott Superplus and NCB. The FSC staff had to stop wearing their uniforms because of threat on their lives.

    RedP, there was enough warnings out their to suggest that the entire affiance stunk and was destined to fail.
    Other people close to the entire thing knew, but out of fear for their lives refused to say a thing, the quietly withdrew their money and moved on.

    The “informer fi dead” culture in Jamaica is the root of the problem, as I know many Jamaicans took offense to people calling DS a crooks when he was making so much money for so many Jamaicans.

    Range Rovers, BMW’S, Prados and Tundra, were flying out the showrooms and life was good, tell a man its all a lie would mean that your life could have been over.

    This can occur in Jamaica again as the pervasive culture of ” see no evil, hear no evil, speak no evil” is alive and well.

  415. Jay

    ‘send no evil, forward no evil, reply no evil’ ….deny no evil too.

  416. @ Jay.
    One lives and learns Jay.
    You say ppl who knew feared for their lives, whom was it that they feared? were they threatened? Not arguing, just wanna know cuz that sounds like a bit of a stretch, DS might be a rahtid conman and tief but a donman? I dunno, have a hard time picturing that.

    @ floridian, u take great pleasure in displaying stolen emails, you need to follow your sis to church guy and go meet Jesus. You post as a judge but have you ever judged yourself?? Remove the plank from your eye, Ive already taken out my splinter and repented. maybe you should do the same.
    Peace

  417. Aww Red Pppppeee don’t get so sensitive. Learn to take some humour. Besides when the real damning ones come out you me and jesus know seh you are the first to look pon dem and read them.

    Sirach is the expert on all things Biblical maybe that is why so many of the ‘chrristians’ got in a tisick…so let us just leave at humour.

    A just some joke and lift spirits for a dry Chritsmas Red P. I know not if anyone on these blogs was seeking vindication but I never sought that…nor do I need it.

  418. I have been shown a rahtid email yu see Red P…forget Deacon Smith…it is from the big man…

    Hold your faith Red P…don’t look….lest you turn a pillar of salt…

  419. So RedP

    Has the fat lady sang?

  420. May i point out my friend floridian, that knowledge and practice are two entirely different things. You may have biblical knowledge up the wazoo but is there relationship? Is there praise, worship, reverence? Is there humility? There are many who practice religion, there are many theologians, there are many that call themselves Christians, but very very few Christians in the truest sense. I fall well short. Where are you in the mix?

    In fact I’ll give you a shocker, there are many self proclaimed Christians that are going to hell. So my friend you can know your bible all you want, makes no difference to me, that is but a small part of the picture. What you need to do is take the big picture in, take a step back and like Paul, try to understand the simplicity of Christ. 🙂

  421. the more you enlighten people is the more ridicule…and we wonder why Jamaica…

    Never see so much ‘christian’ hate the truth so…

  422. So RedP

    Has the fat lady sang? or is she not loud enough

  423. When you take stock of all of this crap thats gone on from an eternal perspective, it matters little my friend. Vanity of vanities, all is vanity. Understand that?? 🙂

    floridian, what is the absolutely most important thing on the face of this earth?

  424. @ Robin
    Loud and clear

    @floridian

    Never see so much ‘christian’ hate the truth so…

    My friend, use your bible to guage what a Christian is. there are not many in this country. Maybe none at all.

  425. Hey Mr. Wildman:

    When you paying the people dem their money? You found 25 mil, right?

    Nocotec can help you…

  426. floridian my friend, you speak of truth, do you really love truth? Are you able to be true to yourself? to analyze the state of your inner man and to confess that one is imperfect. Do you love to be true and repent of your pride, arrogance, envy and every other sin in your life? Practice my friend is key, not just knowledge, its not about me, you, olint or this blog. Step back friend and look at the big picture.

    You speak of truth, dare I ask what Pontius Pilate did? What is truth? Enlighten me my friend. Seriously, all fun and joke aside, what my friend is truth? and i’m not talkin about olint or full hundred. Let me sit at the feet of the biblical master and learn supm.

  427. RedP

    Have you heard from:

    Stressed Now Blessed
    Patricia
    DSilverlining
    Kevin the driva
    Yardman On Wall Street
    waiting in the wings

    And all the other High Priest who help to get us kicked of the #4 bus?

    Are there any believers left?

  428. @ Robin
    Negative

  429. Now lets see. Will my friend floridian take me seriously or just post more stolen emails in order to ridicule people?? Hmmm.. bets anyone??

  430. Red P, I never said to be perfect….I just defend children..hard…I not putting Tracy/David Wayne over innocent children.

    The blocking on junior co -conspiration blog was imperfection I suppose…you tell me Red P.

    Like you call me a theef…over and over…in the Smith debacle that has destroyed many ….look into your self…Think and check.

    If you don’t know then jus lef it.

  431. RedP

    Would it be a reasonable assumption – as Nocotec has said so many times – that these people were plant. Just there to cow criticism and pump up the ignorant masses to believe?

    Not a statement of fact mind you.

  432. Not going get into the Easter in the Christmas but remember Red P the masses cheered for Barabas.

    Anyway have a happpy christmas, kawnza, hunnuckh sp.

  433. Fri, 18 Jul 2008 3:25 pm

    RedP, with what I just read. all the folks who claim to have sources saying this and that, means its obviously unreliable since he’s not even communicating to close friends. Probably that’s why he “wrote” that letter to his wife 🙂
    Like Leaving babylon said, at the very minimum some correspondence should after 3 days be released by O. nothing detailed or elaborate but something for crying out loud.
    He’s living off $100/day….what!!!!!!

    Would all these top lawyers take the case if he were a fraud? or are they just going to cream the last off whatever is left.
    just when I thought things couldn’t get any worse on a Friday evening

    Keep them in your prayers Red P.

  434. 4.pissed off said
    December 5, 2009 at 9:18 pm
    Guru@1 can you email me. I am starting a group olintripoffrecovery, you can email me at olintripoffrecovery@yahoo.ca. And this message is for everyone in general you lost your house , your car, you are now sleeping on someone’s couch, your pickney school fee gone, email me , there is strength in numbers, the politicians use it, david smith use it, let use it and make ourselves better, enrich our lives, please let me know where you are located when you email me.

    Pray for them Red P.

  435. Just as I expected from you floridian, you disappoint me. You need to follow your sis to church, she can teach you a thing or two. BTW I have never ever called you a thief. You need to look into yourself king.

    @ Robin
    I do not suspect any were a plant, although I do not know them personally, I believe they were misled as was I.

  436. Red P..I think as someone misled who has come to see light we had best leave what my needs are to me and your needs to you.

    By the way which church??? I have many sistas’ who go many church….oh I forgot the Misled often bounce back so quick they start their unthinking cycle again and again and again….

    Think Jamaicans think…their heaven and hell …..we have paradise in Ja it takes work that’s all…don’t let hypocites tell you that life is some excuse to ruin other people’s lives!

    all the best.

  437. Tell people bout needs? David /smith love do dat. Tan Deh!

  438. Unno find Church…a clenliness yu fi find.

  439. I pray that our people will come together and demand a change. If not, we are without hope

    http://www.jamaica-gleaner.com/gleaner/20091208/news/news5.html

  440. But even while the term “state capture” has an easy resonance with Jamaicans, it is chilling to hear it coming from the mouths of foreigners, and for those who may still be living in “La-la land”, Transparency International’s pronouncement ought to be a sober reality check.

    http://www.jamaicaobserver.com/columns/Transparency-of-state-capture

  441. Those of us who are not in denial and are not wearing partisan blinkers know that we didn’t get to the point of state capture overnight. The writing was on the wall a long time ago, but like the numerous examples in human history, those with the wherewithal and influence to change the declining course of their societies chose instead to pursue self-interest and self-aggrandisement and sacrificed long-term security for short-term gains. In that regard, Jamaica’s history is no different from countries like Haiti, Liberia and many others.

    I continue to be befuddled by the paradox of Jamaican society. How is it that a country full of the brightest minds and creative genius, and with more churches per square mile than any other place on the planet, find itself in the mess that we are in? Why haven’t decent, hardworking Jamaicans stepped up to the plate and provided the kind of leadership required at every level? Why, with so many brilliant people, is the country’s civil society movement so weak and fractured? Most important, who is going to rescue Jamaica?

    I’m not sure if what most of us are suffering from isn’t an acute case of the

    “too-close-to-see” syndrome. It is true that the view is always clearer when one steps back and looks from the outside in. That is the view captured by Transparency International, and the picture they see led them to the conclusion that there is a clear and present danger facing Jamaica of state capture. So, what say we?

    http://www.jamaicaobserver.com/columns/Transparency-of-state-capture

  442. In challenging the media to play its part, Paula Llewellyn quoted Theodore Roosevelt: “In any moment of decision, the best thing you can do is the right thing… and the worst thing you can do is nothing.” She reminded us of our “overwhelming power, the power of the pen” and urged us to “use it in a positive way”. She bemoaned the dysfunction of Jamaica’s moral compass and in referring to the recent episode of a juror being charged for corruption, said she had been devastated at the news and had to draw deeply on her courage

  443. Crime and [Lack of] Police Leadership

    For the last six years this country (until recently) has been held back by corrupt and poor leadership where everyone was out for themselves and not the very people they claimed to represent. Currently we are being held back by a truly useless Attorney General, incapable Commissioner of Police and increasing crime…

    http://www.tcijournal.com/index.php?idsub=2152&id=8

  444. Standoff at Hallmark – two nabbed in bank burglary attempt

    Owner of the banking and debit card entity, Brian Trowbridge, said that around 4:45am he received a call from the Security Center saying that the alarm in his office had been tripped which indicated that the premises had been broken into.

    http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=1770&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com

  445. Brian trowbridge BT@swannlaw.tc

    Thu 11/29/2007 11:40 AM
    To: David Smith

    David

    It is very important that I speak with you at the earliest possible time.

    Call me on my cell anytime 649-231-4240

    We need to have a chat about a couple of important things not the least of which is the Olint business I see we are getting incoming funds again which is good.

    We are going to expand over the next yesr or so and we want to be sure we can give you the services you need.

    Sorry I did not make the Olint Foundation get together. Tied to my desk!!!

    See you soon

    Regards

    Brian

  446. I see Tafari on the #4 bus trying to get another con from “pissed”.
    I am sure “pissed” will be soon asking everyone to send him US$100 to assist them all in getting back thier money from the Feeder clubs.

    if 30 people take the bait, then “pissed” would have made his US$3000 from an easy scam.

  447. Hey Jay……You saw that too?

    God catch!

  448. That should be:

    Good catch!

  449. Application made for Olint Assets to be frozen worldwide!!

    Yes Tafari that includes asset in Jamaica.

  450. Latest Headlines
    Court orders US$264 million Olint freeze

    JamaicaObserver.com

    Tuesday, December 08, 2009

    OLINT and its principals must find assets exceeding US$264 million before they can withdraw money or sell assets following a freeze order granted in the Supreme Court on behalf of Turks & Caicos-based liquidators, Olint TCI Corporation Limited.

    Two separate orders were made. The first, of US$215 million, was made against against Olint principal David Smith, his wife Tracey-Ann Smith and brother Wayne Smith.

    The second, US$49 million, was awarded against Olint Corp Limited. Both orders are cover a period of 21 days, said a statement from the Turks & Caicos-based liquidators.

    The court also ordered that: “The Defendants and each of them immediately disclose with full particularity the nature of all such assets and their whereabouts and whether such assets are held in their own names or by nominees or otherwise on their behalf and the sums standing in any accounts, such disclosures to be verified by affidavits to be made by the Defendants and served on the Claimant’s Attorneys-at-Law within 14 days of service of the Order.”

    For more information visit the liquidator’s official website: http://www.olinttciliquidation.com

    http://www.jamaicaobserver.com/latestnews/Court-orders-US-264-million-Olint-freeze

  451. What would happen if the Smiths et al fail to disclose information on all assets? Would they be arrested again?

  452. Hopefully Shotta…Hopefully.

  453. It seems Noel Strachan of World Wise has gotten away free with peoples funds..how is it people allow them to get away? while he lives a life of luxury in florida just spending your money. Jamaicans are really stupid

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