Olint may have spawned many mini-ponzi schemes

The latest Olint liquidator report has shed new light on the operations of Olint. Investforlife has raised the issue before of “pigs” which we can now call mini-ponzi schemes, as was highlighted by liquidator in his latest report.
We read the sad case for example of one family who paid over $3.9m to a feeder club, however the liquidator was only able to find records of a substantially smaller sum actually making it into the coffers of Olint TCI.
The feeder clubs were in fact operating their own mini ponzi scheme, thus allowing for the entire sordid affair to continue long after David Smith had stopped paying.

We now know why we have seen very little action brought against David Smith and Olint from these so called feeder club, as they were busy “feeding” off their clients.

See liquidator report for additional information

12 Responses

  1. 2.pissedoff said
    December 7, 2009 at 10:40 am
    Hi Rep P can you email me at olintripoffrecovery@yahoo.ca.
    I have found a way we can all recover our money we just have to work together. Yes we have been left holding the bag, the money is gone, I just had an email from the feeder club I invested through and they denied even receiving the money. I hope to hear ya ..

    Now a feeder is saying we did not get any money from you……………….I wonder why people insist on keeping these feeder clubs name secret, along with the people running these clubs?

  2. @ MikeD,

    They still don’t believed that they were conned.

  3. They still stunned and presenting excusing…

    In one way comparing Madoff 15 % p.a to May Daisy 20% p.m. (over 240% p.a ) is crazy…

    Also in Madoff case there was public warning from persons in the financial industry or regulators per see

    In the OLINT, Lewfarm, Cash Plus et al… Warnings abounded and indeed studies showe that many more people invested when the warnings intensified….

    Olint, Lewfam and May Daisy clearly spawned many Mini Ponzis…

  4. I have been checking every where and looking how Chester Stewart from Regency Capital is no where to be mentioned. This guy was one of Olints biggest feeder clubs and he is still living the high life in Jamaica. The Jamican government system should really get involved and try to assist the people.

  5. Good luck with that. The Jamaica government and financial institutions are still out there feeding people mis-information. So many “officials” were involved in the scam that you will NEVER see any action against Olint in Jamaica.

  6. Is ‘Life Club International SA’ a feeder club to OLINT?

  7. Ex-Turks and Caicos Premier Michael Misick, who left office in a corruption scandal, had unusual ties to a U.S. music magazine.

    The documents suggest that former Turks and Caicos premier Michael Misick, who left office amidst a corruption scandal, was a founding shareholder.

    Misick claimed the money was a dividend from that company, which he and his brother partially owned. Windsor Investment Group has an ownership stake in land on which a casino was built in the Turks and Caicos.


  8. Letter – Re: Misick Press Release

    Dear Editors,

    It’s been a while since I’ve tuned into the journal. It just got too depressing. I’ve just been patiently waiting for the Brits to make good on their promise to clean up the mess that Michael Misick and his henchmen made.

    I tuned in tonight and read Mike’s letter, in all caps, comparing himself to Gandhi. It’s the best laugh I’ve had in a long time. Who exactly is feeding Mike these ideas? I was educated in the TCI and Gandhi wasn’t in the national curriculum. I’m sure if he had been, Mike would realize just how laughable this letter was.

    Perhaps if Mike hadn’t robbed the treasury blind, the TCI would be able to support teachers’ salaries, or the scholarship programmes that would allow TC Islanders to learn about the world and great inspirational leaders like Gandhi.

    Mike Misick is much more comparable to characters from television, like Tony Soprano.




  9. That was quick…Nocotec is a fool….Nocotec is a liar…

  10. Life club international in Panam is not releasing any funds

  11. I smell ponzi scheme with life club international. they sent an email to everybody today stating that all withdraw requests made in December 2011 will be reversed untill further nitice. They have posted a letter from an attorney stating that. These guys are nowhere to be found.

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