Worldwise Boss Noel Strachan under US Probe !!

Seems like the USA is turning up the heat on former Jamaican Ponzi scheme operators. The lastest such person who seems set to come under heat from the USA authorities is Noel Strachan, the former Worldwise Boss who ran off with millions on investors money and went on  buy spree in 2009 purchasing over J$1.8B  in properties in the Broward County area of the USA.

Included in this purchase was a mansion for US$1.8M along with a Rolls Royce Bentley.

Link:

http://jamaica-gleaner.com/gleaner/20110330/lead/lead7.html

David Smith pleads guilty in the USA

The daily newspapers have reported that former Olint Boss David Smith has pleaded guilty to over 20 cases of fraud in relation to his ponzi scheme. In exchange for his plea, he appears set to speak about those who help him with his elaborate plans to defraud “investors”. Word is now that their is a mad scramble now on in Jamaica as persons try to further distance themselves from any association with David Smith as well as hiding assets they came in possession of as a result of the ponzi scheme.

The desert is bound to get real hot shortly.

See links

Read plea agreement here:

http://rjrnewsonline.com/sites/default/files/docs/25_PLEA%20AGREEMENT%20re%20counts%20One%20through%20Twenty-Three%20of%20the%20Information%20(3).pdf

http://www.orlandosentinel.com/news/crime/os-ponzi-david-smith-20110329,0,7910391.story

http://www.jamaicaobserver.com/news/Hope-for-Olint-investors