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46 Responses

  1. Investing in Jamaica – Bank Stocks(NCB)

    Look at my analysis of NCB done and posted on the “invest 4 life site”, under mutual funds and stocks.

    Now compare that to the analysis done and shown in today Observer.

    Jay Says:
    April 27, 2008 at 7:15 pm
    Michael Lee Chins picks another winner. !!!

    Have you guys been following the news, or the HYIP fever is so gripping that you all missed it.

    Between February and March of this year year AIC headed by MLC sold 17,905,153 NCB stocks @ an average price of $22/share.
    Total proceeds would have been in the order of J$3.94B or US$5.63M.
    NCBJ netted over $517m from sales of these shares.

    Now here is the deal, AIC apparently invested a significant portion of these proceeds in the “V” IPO that is the Visa Credit Card IPO which took place at the end of March 2008. Visa was offering each share for US$44 each.

    Now if we assume that MLC/AIC invested the entire proceeds of the sale of NCB shares in purchasing V shares then AIC may have ended up purchasing just about 125,000 shares @ $44.00 each plus brokerage fees etc. (Note this is an assumption, it could be more or less).

    At the end of trading on Friday each V share was worth $75.10 each, which means a capital appreciation of 70.68%.

    MLC/AIC would have gained approx US$3.98M (JA$2.78B) on that single transaction which was completed just 4 wks ago.

    Good going MLC !!!

    Info obtained from JSE and NCB recently released six months financial statements.

    Now compare that to the analysis done and shown in today Observer.

    http://www.jamaicaobserver.com/magazines/Business/html/20080527T210000-0500_136095_OBS_FINANCIALS_DRIVE_THE_MARKET.asp

    Disclosure : I am holder of NCB Shares.

    How about that for disclosure.

  2. Glad to find the Website, the Investment schemes in Jamaica promising 10% returns per month are “Ponzies”. I saw in the Obsever recenly where the blame for the delays in paying was Wachovia Bank, I guess Jamaicans not on the US east coast would buy that argument. The writer had unflattering comments about Wachovia as if they were a two bit bank. It is too late for some, I only hope more poor people do not get taken.

  3. I have been reading this site . While I appreciate the need to be vigilant on investments I would equally like to have the authors of this site revealed and full information on them so that we the public may make our own assessment

  4. Why do you need that.

    We have no ulterior motives except to provide the information that others refuse to allow to be given to “investors”.

    It rather strange that I have not seen you ask Olint etal for full disclosure, why is that the case?

    This author does not work for any of the following:
    1. FSC
    2. BOJ
    3. Big Banks
    4. Any investment firm
    5. Any stock brokerage firm.

    I am pretty sure the other author can speak for himself.

    Please send the same request that you are making of us to your “investment” company and report back here to tell us what you have found out.

  5. This author does not work for any of the following:

    1. FSC
    2. BOJ
    3. Big Banks
    4. Any investment firm
    5. Any stock brokerage firm.

    I however invest in stocks and mutual funds.

    This site is in part the result of, as Jay said, people hiding information at we believe other investors have a right to know.

    We are happy that you are reading and look forward to your contributions.

  6. dr.sirs, joined worldwise october 2007, was there in may of 2008 we were told that we would see intrest in april sine it is for 6 months, we carried over and was told whatever intrest it would be posted in june it is now july and no intrest posted, we need more valid data that this is really going to happen, i was also in cashplus. i am beginning to feel insecure. please repyy. thanks peter russell

  7. Peter Russell,

    The information that we have suggest that WW is currently being audited and at this point in time has ceased to accept any deposits or make any payments.

    They sent a correspondence to this effect a few weeks back, a copy of which was posted on this site.

    They further contacted their clients requesting copies of all deposits and withdrawls made from clients accounts to be sent to them so the can “speedily” complete the “audit” process.

    What we don’t know

    1. Who are the auditors.
    2. If the process is on track and if they will meet the statement period given in that correspondence.
    3. The status of the new office.

    I empathize with you, who seemed to have been caught in two AIS , one which was shown to be a ponzi and from which you may get $0.04 on the dollar and another which we are not sure what is going to happen with them.

    I do hope that you will refrain from investing one cent more in any unregulated entity regardless of :

    1. How much interest they are paying.
    2. How long they have been paying.
    3. How many “big men” are a part of the entity
    4. The principals are nice and christian minded

    I know my words offer very little comfort at this point in time, however we should strive to learn from our mistakes, as if we don’t we are likely to repeat them in the future.
    “You cannot keep doing the same thing and expect a different result”

  8. Thanks Rudy, you are the only one with sense.. why cant the “operators” of this site reveal who they are? With all the ass kissing of lee-chin it not only makes me sick, but gives credibiltiy to DS’s story of being targeted by ML-C.
    The boys home i assist, no loner gets the montly money from DS. Will Lee CHin step up and help us? Ok.. well lmy programm is now CLOSED.. so more criminals will now be made….You people are typical bad mind.. “lawd up” DS when its all good and quick to tear down.. like dyam crabs in a barrell. No wonder JA cant prosper. Just remember.. . who GOD bless NO MAN CURSE…him dont name “DAVID” for no reason.

  9. Interesting blog, I have to say I agree with Rudy Simons though. The declarations of the authors would be much more credible if we knew who they were.

    What’s the big secret anyway? I find the efforts to remain anonymous rather suspicious.

  10. This is just another rumour mongering blog. NO one seems interested in the truth! Just rumours, conjecture, chinese telephone, patio discussions and conclusions. Jamaica is and always will be a plantation!

  11. But all these authors do is put facts out – which usually are in line with what mainstream media has – and sometimes comment on them. Everyone has a right to their opinion, and you, as the readers, have the right to test the validity of those opinions. Whether the authors are MLC devotees or not, shouldn’t you evaluate what they say on the basis of the content??? The problem is that too many of us seem to WANT to receive content, and then attribute truth/falsity to the content on the basis of who the author of the content is. So if X works at NCB, and says that such and such goes on there, then we want to automatically believe him, even if there is really no sense behind the story. C’mon man….let’s not even worry about who the authors are in real life – and in this small country why show yuh face?? – and focus on what they say and whether it makes sense or not!

  12. Well my thoughts on the whole FOREX issue is that you all need to learn how to trade yourself. If you do not wish and give others that responsibility, then you took a risk and need to live with whatever the outcome is.

    It is not a bad sector, if you know what you are doing. Remember you will win some, and loose some.

    http://kingstonchronicle.com

    (Jamaica’s # 3 Internet newspaper)

  13. I have invested a total of 16,000USD between Maydaisy and Lewfam and despite my parents wasting money on me and sending me to good schools plus university, I allowed my greed to get the better of me. It is true that “anything that is too good to be true, normally is”. I have always lived by that principle but on this occassion I didn’t. I will recover my losses but I know several people who cannot and will not recover from their exposure to these schemes.

    First of all I think no one will be getting any money back from these schemes. The christian hardworking,honest, law abiding citizens mostly of Jamaica have been hit hardest. MayDaisy quotes a lot of scriptures in a bid to appear genuine and that fooled a lot of people includingg myself. I know for a fact that up to three weeks ago Lewfam was still accepting deposits. Lewfam(Olint) has therefore continued with the perpetuation of evil against poor ignorant people.

    I do hope DS, the principals of Lewfam and Ingrid Loiten of MayDaisy be all brought to justice and perhaps suicide is also a good idea for these bunch of crooks who have deceived and taken advantage of mostly poor desperate people.

  14. I suggest that you go into something where you do not PAY ONE RED CENT BUT BUT YOU have a lot to gain depending on how much you really want to . check out this website and tell me if you are not as excited as I am. This way you do not LOSE anything. It really is worth a shot.

    Check it out if you do not believe me.

  15. Big up Lee Chin. !!

    This man has single handedly been doing wonders for this country in particular portland, and continues to do so despite the noise of the “detractors”.

    http://www.jamaicaobserver.com/magazines/Business/html/20080724T230000-0500_138264_OBS_THE_RETURN_OF_THE_NATIVE.asp

  16. What is going on out there today i need to get some blogs.

  17. Investments are not bad. All that is required is that you invest in real FOREX (risky), and or invest in talented Jamaicans who have a solid business plan.

  18. NCB Makes big profit.

    Despite all the claims that the AIS where taking money from the traditional financial institutions and the apparent hostility towards NCB, They continue to rake in the cash.

    Net Profit of $6,757 million, grew by 38%
    Net Loans of $71.1 billion, grew by 35%.
    Customer Deposits of $119.2 billion, an increase of 9%

    Note : Customer deposits are increasing and not decreasing as suggested by folks who believe that banks like NCB is out to get them.

    http://www.radiojamaica.com/content/view/10238/52/

  19. CFTC reauthorization gives agency increased authority over retail foreign currency trading

    http://www.nfa.futures.org/member/newsLetter2.asp#Reauthorization

  20. Based on the general tone of comments on this site, it appears that the consensus is that all these schemes are scams and that everyone who establishes an AIS is a scamster. Does investforlife and its supporters really beleive this?. I am a well qualified and experienced individual who is in the process of establishing a new currency trading club and will be willing to provide full disclosures and obtain the relevant licensing if the FSC is willing to grant. I wonder if you will also think that my outfit is a ponzi or scam…hmmmmmmmmm

  21. Next AIS Operator Said: “I am a well qualified and experienced individual who is in the process of establishing a new currency trading club and will be willing to provide full disclosures and obtain the relevant licensing if the FSC is willing to grant.”

    Dude, if you do the above you are not an AIS or UFO… just another licensed investment alternative.

  22. March 2006
    • March 3 – OLINT in Jamaica raided by FSC and FID
    • March 6 – OLINT in Jamaica raided by FSC and FID, FSC Cease and Desist issued
    • March 24- OLINT Corp. Limited (“OLINT”)/David Smith, et al,Overseas Locket International Corp./David Smith, et al,LewFam Investments and Trading Limited/Neil Lewis, et al,LewFam Investments Club/Neil Lewis, et al issued Cease and Desist by FSC
    • March 27 – OLINT/David Smith apply to Commission for stay of execution
    • March 29 – I Trade FX, LLC. applies with the NFA to be an FUTURES COMMISSION MERCHANT(FCM)
    • March 30 – FSC deny application from OLINT/David Smith for stay of execution.

    April 2006
    • April, week of 28th ?? – OLINT Corp advises clients it is registered by the FSC in St. Kitts and Nevis.

    May 2006
    • May 17 – St. Kitts Authorities DENY that OLINT corp is registered by FSC. Authorities state OLINT corp is registered as an exempt/off shore company

    July 2006
    • July 28,29 – First MTI classes held in Jamaica with Jared Martinez

  23. The list of 799 stocks than cannot be sold short- at least until October.

    http://club.ino.com/trading/here-are-799-examples-of-what-not-to-do-in-the-markets-cont-2/

  24. Capital Blu investor suffers an 80% drawdown totaling $33,000 in the first month. I have prepared a complete account of the lies, manipulation and fraudulent behavior of this company at the following link for all to see.

    http://www.mthebrongroup.com/capitalblu

    Regards,
    CA, Texas

  25. You are deliberately trying to silence the Harbour Shark.
    I now know that you are part of the Smith Olint conspiracy.
    I have already spoken to Officer Knighton In Turks about you and he knows that you are part of the conspiracy

  26. Is there anyone out there who might have invested in the RKR Fund through promoter Royden (Kyle) Riettie?
    If so, please let me know if you have been able to contact him or know where he can be reached. I have been trying to get intouch with no success. PLEASE, if you can, do offer some assistance.

    • I did invest with him and have had some contact but he has since stopped only given excuse after excuse I would like to further discuss this .Please contact me so we can make arrangements to speak.

  27. http://74.125.47.132/search?hl=en&q=cache%3Awww.nfa.futures.org%2Fbasicnet%2FCaseDocument.aspx%3Fseqnum%3D1669&aq=f&oq=
    This is the html version of the file http://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=1669.
    Google automatically generates html versions of documents as we crawl the web.

    Page 1
    NATIONAL FUTURES ASSOCIATION
    Before TheBUSINESS CONDUCT COMMITTEE
    In the Matter o1′:I TRADE FX LLC andISAAC MARTINEZ,

    NFA Case No. 08-BCC-014
    Respondents.RESPONDENTS’ ANSWERRespondents I Trade FX LLC and Isaac Martinez, as their Answer to the BusinessConduct Committce’s Complaint, state as follows:Jurisdiction

    Paragraph No. l. At all times relevant to this Complaint, I-frade was a futures commissionmerchant C’FCM’) and Forex Dealer Member (*FDM”) of NFA. As such, I-Trade was and isrequired to comply with NFA Requirements and is subject to disciplinary proceedings forviolations thereof.

    ANSWER: Respondents admit the allegations contained in Paragraph No. 1.

    Paragraph No. 2. At all times relevant to this Complaint, Martinez was a listed principal andregistered associated person (“AP”) of I-Trade, and an NFA Associate in accordance with NFABylaw 301(b). As such, Martinez was and is required to comply with NFA Requirements and issubject to disoiplinary proceedings for violations thereof. I-Trade is liable for violations ofNFARequirements committed by Martinez during the course of his activities on behalf of I-Trade.

    ANSWER: Respondents admit to the allegations contained in the first two sentencesofParagraph No. 2, and deny the remaining allegations contained in Paragraph No. 2.

    Paragraph No.3. l-Trade has been registered as an FCM since August 3, 2006 and solelyconducts retail, off-exchange forex business. Martinez is the firm’s president, a registered AP,and NFA Associate. and listcd principal of the hrm. As of NFA’s April 2008 audit of I-Trade,the firm had approximately $10 million in customer liabilities and approximately 3,000 activecustomer accounts, though only nine ofthese accounts had more than $50,000 in equity.I’nti_ it,1.L ccul,ls ,sIl)iuG EI.JO i.FICE

  28. Yes, I will not post anymore, unless it is worthy of the UFO Time-Line.

  29. AIC suspends dividends – Payout on three mutual funds on hold

    Published: Friday | February 6, 2009

    AIC Limited, Jamaican billionaire Michael Lee Chin’s Canada-based mutual funds business, has suspended monthly dividend payments on three of its mutual funds, with combined assets of C$88 million and 2,397 investors worldwide.

    No returns have been paid since November on the Copernican international dividend fund T6 series, value leaders maximum growth portfolio class T7, and global premium dividend income fund T6.

    More at: http://www.jamaica-gleaner.com/gleaner/20090206/business/business1.html

  30. Lee Chin’s NCB holdings fall to 68%

    Published: Wednesday | February 11, 2009

    Michael Lee Chin and his companies have given up more than 64.6 million of his holdings in National Commercial Bank (NCB) in the past year, while a new investor associated with a rival bank has claimed the eighth spot among the top 10 shareholders of Jamaica’s largest bank by assets.

    More at: http://www.jamaica-gleaner.com/gleaner/20090211/business/business3.html

  31. Was the news that a certain private jet had a large sum of money on board correct or rumour.?
    Is it true that the money came into the island the very night after the uproar? ie the money did come into the island but not on the flight with the VIP’s
    Is it true that the information that customs had was in fact correct?
    Is there a huge coverup to prevent embarrassment to some.
    Is there any truth that a large portion of these funds were being earmarked for the big elections?

  32. My sources tell me NNN was misled slightly in the reporting of the news.

    My sources are saying the money did in fact come into the island after the initial uproar which was a cleverly designed distraction.

    Hmm, very interesting.

    • Must be a common tactic on a port of entry. I have heard of this on a port of entry before. Sacrifice a small shipment for a large one to get through.

      You know AML, but does AML know you.

  33. Government poor decison making process.

    First the government decided to sell the sugar company to a bankrupt company, which rightly fell through.

    Not satisfied with that stupid mistake the Bruce Golding administartion is at it again.
    Earlier this week it was reported that they were in discussion with Caribbean Airlines of Trinidad and Thomas Cook of the UK , for the divestment of the national airline.

    Now news has emerged that the major shareholder in Thomas Cook has filed for bankruptcy protection.

    This has got to be the worst divestment team in the history of Jamaica, unbelievable !!

    See full report here:
    http://www.sunheraldja.com/article/show/2786

  34. For those who have lost money and are looking to rebuild there lives, having accepted the folly on their indulgence in the AIS, I am using this medium to offer you a path to the way forward.

    I am not an investment advisor and the information which I am giving below is really just that ie information that you can use to decide where you go from here.

    Now there are a couple of great books that I suggest you either buy or simply download and read which I consider to be great books.

    1. The 80/20 rule, now there are two such books by Richard Koch (a) Living the 80/20 way (b) the 80/20 rule. Great books.

    2. The intelligent investor – by Benjamin Graham (prefaced by Warren Buffet and Jason Zweig). This is the definative book on value investing. In the turbulent times that now exist on wall street and the world financial markets what better book could you need.
    As Buffett said, ” be fearful when everyone is greedy and be greedy when everyone is fearful”.
    Mind you ,there are many land mines out there so you have to thread carefully. This really leads me to the next book below.

    3. Security Analysis – by Benjamin Graham. The 1934 edition is available for free download online. You can however choose to purchase the 6th edition which contains around 818 pages, and is much the same as the 1934 edition but has a lot more current examples used to demonstrate certain principles.

    The biggest mistake and investor can ever make in life is to think he is investing when he in fact is speculating.
    You will make some mistakes along the way, but having made one, its take a bold investor to recognize where he went wrong, learn from that mistake and ensure he NEVER makes that one again.

    The only way I know to achieve that is :
    (a) take personal responsibilty for what you did wrong.

    (b) Look at the reason which may have caused you to make this mistake in the first place. Was it that you were simply following the crowd or is it that you simply had a bad financial advisor.

    (c) Determine which one factor, ie what was that single thing that pushed me in the wrong direction. Remember sometimes there are many factors looked at in the decision making process, however try to seek out what was than single one, that made you say yes.

    (c) Seek out those who will agree with you when you are right, but are strong enough to tell you when you are wrong (in their opinion).

    Advisors are there to do just that, provide advise, ultimately its you who have to take that first step, its you have to make the decision to do or not to do.

    Have a great day !!

  35. Yohan blake now the fastest ever 19yr old over the 100m, the youngster ran 9.93 s today in rain.

    http://www.facebook.com/ext/share.php?sid=104007426601&h=V2ETO&u=rk-ow&ref=nf

  36. THERE IS MUCH TALK ABOUT DAVID SMITH BEING BROKE BUT IT IS A LIE.

    THE RECEIVER MANAGER WILL PROVE HIM WRONG. DAVID WAS NOT HONESY.

  37. I AM TRYING TO GET CONNECTED TO THE olinttci.com SITE BUT CANNOT BE CONNECTED.

    IS THE SITE UP AND RUNNING?

    I WAS INFORMED THAT THERE IS A RECEIVER MANAGER FROM PRICE WATERHOUSE FOR OLINT AND PERSONS ARE ASKED TO SUBMIT DOCUMENTS.

    ARE YOU AWARE OF SUCH?

  38. Hi there!
    I would like to burn a theme at here. There is such a nicey, called HYIP, or High Yield Investment Program. It reminds of financial piramyde, but in rare cases one may happen to meet a company that really pays up to 2% daily not on invested money, but from real profits.

    For quite a long time, I earn money with the help of these programs.
    I don’t have problems with money now, but there are heights that must be conquered . I make 2G daily, and my first investment was 500 dollars only.
    Right now, I managed to catch a guaranteed variant to make a sharp rise . Turn to my web site to get additional info.

    http://www.theblogmoney.com

  39. David Smith and his family members (and others) are responsible for the financial ruin of so many individuals. David and his family members are liars and thieves and really belong in prison, just like Madoff. They deceived club members in order to steal their monies, knowing full well that they were not involved in legitimate investing, and that they could never pay the returns they lied about on the monthly statements. David Smith, his brother Wayne and other family members are thieves and deserve to spend many years in prison for the lives and families that they have ruined forever. There are those individuals who have even committed suicide and David, Wayne and others are ultimately responsible for these suicides.

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