David Smith to be sentenced Thursday, Aug 11, 2011

If  prosecutors have their way David Smith the man who ran one of the largest Ponzi scheme in Jamaica and the Caribbean could spend the rest of his life in prison.

The fall of David Smith’s empire is nothing short of incredible,as at one point in time, if you did not have money in Olint you must have been an idiot. The “club” as it was called was exclusive and if you could not get in you just turned to a “pig” ie you latched unto someone who was already in the club.

The client that he had was some the who’s who in Jamaica and was said to have included some well heeled individual as well as some financial analyst. As Smith await his faith on Thursday, I am amazed at how he appears to have decided to take the full fall and not name his co-conspirators, some of  whom  made a lot more than he did in the fraudulent scheme.

That is so not “cool”. David is like a man in the middle of the desert on a fertile piece of land.

If you get my drift.

 

Update.

Heard the Feds were in the tourist resort last week “cooling”  or was it “staking out”, not sure we will just have to wait until we hear from the District Attorney.