Gleaner calls Olint beneficiaries(JLP/PNP) to repay

With the collapse of the OLINT and the confession by its leader, David Smith, that it was has nothing more than a glorified PONZI, there has been some interesting utterances. The most recent one is from the Gleaner calling for the the ‘Gangs’ of Gordon House to repay the OLINT money. This call is  the most refreshing and is the right thing for the the JLP/PNP as a whole,  members of political directorate and those that benefited to  do.

What about the some Church leaders? Devon Dick in his article ‘Churchs should repent over olint‘, pointed out that these Church leaders need to accept their sorry role in the whole affair, repent and where appropriate repay the ‘profits’.

If they refuse to do so,  court proceeding should be initiated to force them to do so. Simple put those that benefited from OLINT and other Unregulated Financial Organisations should repay.

Interestingly, to this day no charges have been brought against David Smith in Jamaica.

On slightly different but very related note, what is the status of the OLINT feeder clubs, Lewfam etc and their bosses? When will they be drawn before the courts?


OLINT Feeder Club Members: File your claim against the respective Club

The Liquidator of OLINT TCI as issued an update in regard to feeder club members. In essence it is directing to investors who invested in investment/feeder clubs, that in turn invested in OLINT, to  file a claim againts that club and not against OLINT TCI.

If you are a member of a feeder club or investment club that invested in Olint TCI Corporation Limited (“Olint TCI”) between the period April 2006 to July 2008, please note that your claim is against the feeder club or investment club and not Olint TCI.

The feeder club or investment club would in turn have a claim against Olint TCI and is required to submit its claim to the Official Liquidator of Olint TCI in accordance with the requirement shown in the Update section of the website.

Source:  Feeder Clubs

That letter

Sometime in June/July 2009 before the August 5, 2009 court case, a statement attributed to Lewfam was issued and can be seen below. The reason for our questioning the authenticy of the statement will become clearer soon

Dear Member,

At this time our situation has not changed. We still await realization of one of the options that we have been pursuing.

As you may have noted, the media has been issuing releases stating that OLINT TCI was audited and is being wound up as per order of the Turks and Caicos courts.  OLINT TCI is a separate organization started by Mr. David Smith in the Turks and Caicos Islands and does not concern us in any way.

Our funds are in OLINT and located on the trading platforms NOT in the Turks and Caicos Islands.

We trust that at some time our funds will be released and Mr. Smith will have an avenue to make payouts.

Please be reminded that the next court date will be August 5th, 2009. Through the Caribbean Currency Traders Association (CCTA) a lawyer has been appointed to watch proceedings on our behalf.

As always we ask you to please continue to pray for the following:

1. Relief for many members who are undergoing hardships at this time;

2. The successful completion of the negotiations;

3. The early resolution to the situation involving our trader’s funds and for him and his family’s well being.

The Management and Staff

LewFam Club

Note: (Emphasis(bold) added)

The lines in bold are very strange and seem to indicate the confusion or denial.

It is almost difficult to believe that such a statement could be attributed to Lewfam.  Lewfam and OLINT were in court together on matters relating to the FSC Cease and Desist order. They lost the appeal in December 2007, and shortly thereafter OLINT payment problems developed.

Lewfam should have been aware the OLINT Jamaica had become the “customer care” arm as mentioned in the Court Documents in the OLINT vs NCB mattter. Therefore to  to say that the issue surrounding OLINT TCI does not concern Lewfam is simply unbelievable and  leaves one to wonder if this is nothing more that a mischievous hand at work.

Here is a statement from another document in the public domain attributed to the OLINT boss.

…after the FSC raid in Jamaica I formed Olint TCI, and the club members of Overseas Lockett International, were transferred to Olint TCI and the Claimant remained the customer service arm of Olint Corp TCI and Overseas Lockett….

If that statement is true, then something in that letter does not add up.

However one thing is clear and seems beyond question is that Lewfam had funds invested in OLINT and therefore investors should have from long looked at their options to recover their funds.

Head the Advice of the Liquidator

The bottom line  is ivestors in investment clubs/Feeder clubs such as SGI Holdings, Lewfam, Wealthbuilders, UWIN, F1 Investments etc if they have not done so should heed the advice of the liquidator.   It has been long argued that these feeder clubs were responsible for allowing to OLINT to flourish by a conduit of funds ,  ‘bypassing’ the cease and desist order put in place by the FSC.  Apart from the clubs there were individual investors who acted as what is now term “Pigs” and the allowed sub investors, “piggybackers”, to invest through them. They also should file claims against their pigs.

Interestingly such advice has already in given to many investors but the question remains how many have actually initiated action or can afford to do so.

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 an option.


Investforlife & HYIP Programs one year later

May 2009 marks  roughly one year since this blog started, and it is interesting the turn of events.  It has been a most interesting year as the details of the Alternative Investment Schemes(AIS)/Un-regulated Financial ORganisations(UFO)  came out. It was however sad to see and hear the stories of persons deceived and deluded, some even to this day.

While there were others, the following persons, Jason, Nocotec, Jay, Robin Irie,  JohnDoe, DaveSin  were particular targets of harsh criticism for the daring to call the HYIPs Scams. So reviled was this group that were driven from a site (blog) that will remain nameless but it is now known as the #4 bus.  Interestingly, it was the suggestions of some of the posters on that blog that resulted in the formation of this blog. 

Their suggestion was taken and was born. One year later, having been featured on NationWide, CVM TV, mentioned indirectly by Observer writers, and over 950,000 page views, Investforlife remains while may UFOs have died along with many supporting websites.

Here is the list of the some ‘programs’ or ‘clubs’ and their prognosis.

  1. Cash Plus – Dead. CEO arrested and charged.
  2. WorldWise  – Dead.
  3. May Daisy – Dead. Anyone knows where the CEO is?
  4. Olint – Dead. CEO arrested and charged.
  5. Capital Blu – Dead  CEO arrested and charged.
  6. TCI FX – Dead.
  7. CARIEF – Bedridden.
  8. Higgins Warner – Dead.

Feeder Clubs – Dead

  1. Lewfam (Jamaica) – Dead
  2. SGL Holdings(Grenada) – Dead 
  3. KUI(Jamaica) – Dead
  4. Wealthbuilders(Jamaica) – Dead
  5. UWIN(Antigua) – Dead
  6. Vision Increase(Panama) – Dead
  7. Regency International(Florida) – Dead. CEO arrested
  8. F1 Investments(Florida) – Dead. Filed lawsuit against May Daisy
  9. Willshaw(St. Lucia) – Dead
  10. RKR Funds – Dead.

Some sites where the predominate theme appeared  to be the defense of the UFOs have also died or changed focus. We congratulate those that allowed the contrary fews to posted.

  1. (dead)
  2. (refocussed)
  3. (in need of cleaning up, controlled by spammers)
  4. – remains for the record.

Thanks to all the contributors that have kept this blog going, despite the challenges. May this experience be a lesson to us. Think and check before you invest.

January 9th is here…

“January 9th is basically upon us..” echos Cullkull, a member of the INVESTFORLIFE community. He went on the place his bets on what will happen after January 9th.

“My bet is that the carrot will move to about March/April..
so I guess a lot more prayer vigil will keep etc.. but by time March/April come, there will be some new excuse and the carrot on the stick will move to around Aug/Sept.”

January 9, 2008 is the date when the court in the Turks and Caicos  is expected to rule on Olint and David Smith’s holdings in that country. These assets have been frozen since July 15, 2008 following raids by the Turks and Caicos Financial Crimes Unit.

Olint, the troubled Unregulated Financial Organisation(UFO) has reportedly not paid its investors for close to or little more than 1 year, outside of a rumours that a lucky or privileged few were in early 2008. In its hey day, OLINT paid an average return of around 10% per month.  After being issued cease and desist orders by the FSC in Jamaica, Olint shift operations overseas and apparently depended primarily on inflows from feeder clubs spread all across the Caribbean and the United States. (see related link below).

Since the delays in payments, efforts by many investors to recover the principal or a portion there of has so far turned out to be futile. Some have turn to lawsuits while others to prayer. Indeed a large section of church in Jamaica support and gave legitimacy to many of the UFOs operating in Jamaica particularly OLINT. Those clubs included Lewfam led my prominent and respected church man, Major Neil Lewis.

The role the MTI played is still up to question. Are the innocent or is there more to the story? I Trade- FX a company owned by the principals  MTI ran into problems with the NFA with David Smith’s Olint along with May Daisy  being named in the complaint.

The impression is being given that once the court rules in David Smith’s favour, money will somehow start to roll. Prophet Phinn appears to one those spreading that ‘vision’. What do you bloggers think will happen today?” We now await the court ruling.


Lewfam Closing ?

We have in our possession a copy of an email which was just sent out to Lewfam clients last night (Dec 3, 2007).

Is this the end of the road for Lewfam or will the office reopen as stated in the email.


Dear Member,
As at midnight 3rd December 2008 the LewFam Investment Club website will be suspended until further notice. Our office remains open to continue answering your calls and providing you with any available updates. Please feel free to call us. Our regular numbers will be available along with three additional numbers: 305-600-4367; 954-376-3277; and 404-567-4804.
We will be closed for the Christmas Holidays as at December 12 and will re-open on January 12, 2009
Thank you very much for your continued support and patience during this continued trying time.
Please have a happy and fulfilled holiday.
Management and staff
LewFam Investment Club

Lewfam: We are still waiting

Lewfam Club has issued another updated to members. In an apparent attempt to keep its promise to members Lewfam issued an update this morning. The short message is shown below.

Dear Members:

We have not yet received the information we were anticipating yesterday, but as soon as it is available we will let you know.

We apologise for the inconvenience but continue to appreciate your patience, understanding and support.

Management and staff of LewFam Club

Last week August 8,2008, Lewfam issued an e-mail advisory informing members that .  The apparent inability of Major Lewis to get any useful answers out of OLINT is another clear sign suggesting dark days ahead for OLINT investors.

Lewfam’s relationship with OLINT goes back to pre March 2006.  In fact, in March 2006, LewFam Investments and Trading Limited/Neil Lewis, et al,LewFam Investments Club/Neil Lewis, et along with OLINT Corp. Limited (“OLINT”)/David Smith, et al,Overseas Locket International Corp./David Smith, et al, were issued a Cease and Desist order by FSC in Jamaica.



Lewfam publishes new update

Lewfam has posted another update to its troubled members. The update reads as follows

Dear Members,

We wish to take this opportunity to thank you so very much for your continued patience, understanding and support shown in so many different ways.

Please be assured we are working assiduously to procure funds to honour urgent encashment requests of our LewFam Club members. At this time we are unable to give you a specific date when those funds will be received by us for disbursement, but we are working very diligently to fulfill your requests.

We have not received any gains reports from the trader for the month of July, but we are awaiting further communication from him. We will therefore be communicating with you again on or about the 12th of August when we expect to have some more news.

Again, we thank you for your continued support.

Management and Staff

LewFam Club

n.b. Thanks to the poster who posted this. Keep posting or e-mail information to hyipmyths [at] yahoo [dot] com.

FSC demands Account info on Olint,Lewfam, Principals

The Gleaner/Power 106 Newsroom is reporting the FSC is getting into the act. The Financial Services Commission(FSC) in Jamaica is demanding certain information from licensed financial institutions in Jamaica

Last week, the FSC in letters to the institutions demanded the disclosure of all accounts belonging to the Olint Corporation, its boss David Smith, his wife Tracey and brother Wayne Smith. The FSC also requested disclosure of the accounts of the Olint Foundation, Overseas Locket International also run by Smith as well as the accounts of Lewfam Investments and their principals Major Neil Lewis and Janice Lewis.

According to the news report, the FSC can do this under the FSC Act where it has reason to believe that an institution was being used to commit fraud, theft or money laundering. 

For more read the news report below:

Source: FSC to recieve Olint reports