David Smith Arrested – To be Extradited to the USA

On Friday, ABC news via an Associated Press(AP) article had quoted a spokeswoman for the U.S. Attorney’s Office, Amy Filjones, in the Middle District of Florida,  saying that the U.S. government was “actively seeking to extradite” David Smith from the Turks and Caicos Island(TCI)

On Saturday, the Jamaica Gleaner reported that David Smith had been arrested on Friday, January 23, 2015 on a provisional warrant and will be extradited to the United States of America next week.

Given that David Smith served only little more that four years in  a TCI prison it is will be interesting to see if he will serve 24 or 26 more years in a USA prison.

Why David Smith was released on January 22, 2015 with no arrangements made to have him immediately picked up by the United States Authorities is a question the Turks and Caicos Authorities would have to answer.

While his wife and family might be grateful, many who would have suffered as a result of Olint will be left wondering why?

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David Smith released from prision in Turks and Caicos

The Jamaica Gleaner  reported that David Smith of Olint Fame has been released from prison in the Turks and Caicos  early based on good behaviour . In September 2010, David Smith was sentenced to six and half years in prison in the Turks and Caicos for fraud related charges. In 2011 he would plead guilty in a United States Court to four counts of wire fraud, a count of conspiracy to commit money laundering, and 18 counts of money laundering, after being indicted in August 2010 (See Document). He was then sentenced to 30 years in the United States.

It is not clear when and if he will now report to the United States authorities to serve the remaining portion of his 30 year sentence. After the United States Trial, in 2011, it was reported that he would serve six and a half years in a Turks and Caicos jail before serving time in the United States.

According to the Gleaner, Oliver Smith his lawyer (of no relation to David Smith) offered no comment when contacted. The Observer seems to believe based on their report that he will extradited to serve at least 24 years in United States prison.

The Turks and Caicos Islands SUN is reporting that David Smith appeared before Chief Magistrate Clifton Warner in Grand Turk yesterday.

The David Smith led Olint operations which turned out to be nothing but a Ponzi was reported to have raked in over US$220 Million from over 6,000 direct investors and many more via feeder clubs.

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WorldWise 7 years later – Claims of payment

In a 2013 article the Gleaner reported that the Jamaican cops were seeking the operators of World Wise Partners. The charges to be laid against the operators include operating an unlicensed securities business contrary to Section 7 of the Securities Act; operating as unlicensed investment advisers contrary to Section 8 of the Securities Act; and fraudulently inducing persons to deal in securities contrary to Section 47 (a) of the Securities Act.

Now in 2015, Noel Strachan one of the principals of  World Wise Partners continues to claim that World Wise was not and never was a Ponzi . However, the most interesting statement was that that 90% of investors/partners have been repaid facilitated by some unnamed lawyer(s).

But in a swift response to the Gleaner article, many readers questioned the truthfulness of those statements and pleaded for help. The Gleaner did  not give an idea how many responses were received. Some of the responses, abbreviated, are highlighted below.

  • … I invested a total of US$140,000……I was not able the to get any contact for World Wise or Mr. Strachan.
  • … The reality is that my investment has cost me dearly. I do not have a wife anymore…. You could forward this email to him ….
  • … I am one of those who is yet to recover monies owed by World Wise Partner/Noel Strachan…
  • … He owes me over US$7000 and I (am) aware of many more persons who are still owed monies…
  • … I was robbed of my life savings and I have been out of a job since 2008, and only worked approximately a year and a half since then.
  • … I would like to know if you can get in touch with Mr Strachan for me …
  • … I had some money in World Wise Partners ,,, Please, what can I do? Who can I contact at WWP?
  • … I have invested US$15,000 and I have not gotten back a cent. I have friends with far more than that and they did not get anything up to the time…
  • … I am not calling him a liar, but from the time they closed that place they emailed me once in 2008. I haven’t heard from them since and my email is the same, so are my address and telephone…
  • … The 90 per cent he spoke of, must be his friends. All my co-workers who invested in World Wise are still waiting.

Have you been repaid or lucky to be among the 90%? Leave us a comment here….

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