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This is strange. Why shut down Olint if the initial evidence was not strong? Did they take simply take Goliath complain as gospel? Don't they know what the real gospel says about David and Goliath.
David's war - Olint boss readies team for legal showdown
published: Friday | July 18, 2008
Howard Campbell, Gleaner Writer
Lord Anthony Gifford (pictured) has been consulted by Olint boss, David Smith, in response to an ongoing investigation the Turks and Caicos Islands. - File
Providenciales, Turks and Caicos:
A high-calibre team of Jamaican and international [COLOR=orange! important][COLOR=orange! important]lawyers[/COLOR][/COLOR] has flown to the Turks and Caicos Islands to assist Olint Corporation [COLOR=orange! important][COLOR=orange! important]Ltd[/COLOR][/COLOR] boss, David Smith, in preparing for a looming legal battle.
[COLOR=orange! important][COLOR=orange! important]Attorney-at-law[/COLOR][/COLOR] Huntley Watson told The Gleaner last night that the lawyers were in a meeting with Smith and Queen's Council Lord Anthony Gifford had been consulted on the matter.
"Once they (the legal team) are able to assess the true situation, in terms of what is happening, a formal statement will be made on the situation," Watson, a lawyer who has represented Olint locally, said.
Meanwhile, in Providenciales, Turks and Caicos, few people in the British territory know the investment club or Smith.
In fact, a commission of inquiry ordered by the British government into alleged government corruption in the islands is the biggest news here.
On Monday, Smith's house and his offices were raided by members of the Royal Turks and Caicos Islands Police Force, who seized documents and computers. But Detective Assistant Superintendent Mark Knighton, who led the operation, said his team from the Financial Crime Unit has found nothing incriminating to date.
"Our next move is to examine the contents of these documents and see what they reveal," Knighton said yesterday. "I would say that this investigation will take months, rather than weeks because, to my knowledge, this is just a small number of the documents."
No arrest made
Knighton does not identify Smith by name when discussing the case, saying it involves a "certain individual who resides here". He said the person being investigated has not been arrested or questioned, adding that his team visited his homes and businesses after several reports of financial irregularities involving his companies.
Smith lives in the fashionable Chalk Sound area, located on the southern section of Providenciales. Knighton said members of his family were there when the police conducted their search.
Monday's raid came as a surprise to a Jamaican developer who has lived here for 20 years, and claims to know Smith well. Citing "small island politics", he chose not to give his name.
No ulterior motives
"David is highly regarded in [COLOR=orange! important][COLOR=orange! important]business[/COLOR][/COLOR] circles here. The transactions he does are mainly with friends," said the developer. "I don't think he has any ulterior motives."
The developer said Smith was a frequent visitor to the Turks and Caicos before buying a home and settling there in 2007. Olint has been offering investors as much as 10 per cent in monthly interest since 2002. But the company has been scrutinised since 2006 when the [COLOR=orange! important][COLOR=orange! important]Financial [COLOR=orange! important]Services[/COLOR][/COLOR][/COLOR] Commission issued a cease-and-desist order against it, saying it did not have a licence to practise.
David's war - Olint boss readies team for legal showdown
published: Friday | July 18, 2008
Howard Campbell, Gleaner Writer
Lord Anthony Gifford (pictured) has been consulted by Olint boss, David Smith, in response to an ongoing investigation the Turks and Caicos Islands. - File
Providenciales, Turks and Caicos:
A high-calibre team of Jamaican and international [COLOR=orange! important][COLOR=orange! important]lawyers[/COLOR][/COLOR] has flown to the Turks and Caicos Islands to assist Olint Corporation [COLOR=orange! important][COLOR=orange! important]Ltd[/COLOR][/COLOR] boss, David Smith, in preparing for a looming legal battle.
[COLOR=orange! important][COLOR=orange! important]Attorney-at-law[/COLOR][/COLOR] Huntley Watson told The Gleaner last night that the lawyers were in a meeting with Smith and Queen's Council Lord Anthony Gifford had been consulted on the matter.
"Once they (the legal team) are able to assess the true situation, in terms of what is happening, a formal statement will be made on the situation," Watson, a lawyer who has represented Olint locally, said.
Meanwhile, in Providenciales, Turks and Caicos, few people in the British territory know the investment club or Smith.
In fact, a commission of inquiry ordered by the British government into alleged government corruption in the islands is the biggest news here.
On Monday, Smith's house and his offices were raided by members of the Royal Turks and Caicos Islands Police Force, who seized documents and computers. But Detective Assistant Superintendent Mark Knighton, who led the operation, said his team from the Financial Crime Unit has found nothing incriminating to date.
"Our next move is to examine the contents of these documents and see what they reveal," Knighton said yesterday. "I would say that this investigation will take months, rather than weeks because, to my knowledge, this is just a small number of the documents."
No arrest made
Knighton does not identify Smith by name when discussing the case, saying it involves a "certain individual who resides here". He said the person being investigated has not been arrested or questioned, adding that his team visited his homes and businesses after several reports of financial irregularities involving his companies.
Smith lives in the fashionable Chalk Sound area, located on the southern section of Providenciales. Knighton said members of his family were there when the police conducted their search.
Monday's raid came as a surprise to a Jamaican developer who has lived here for 20 years, and claims to know Smith well. Citing "small island politics", he chose not to give his name.
No ulterior motives
"David is highly regarded in [COLOR=orange! important][COLOR=orange! important]business[/COLOR][/COLOR] circles here. The transactions he does are mainly with friends," said the developer. "I don't think he has any ulterior motives."
The developer said Smith was a frequent visitor to the Turks and Caicos before buying a home and settling there in 2007. Olint has been offering investors as much as 10 per cent in monthly interest since 2002. But the company has been scrutinised since 2006 when the [COLOR=orange! important][COLOR=orange! important]Financial [COLOR=orange! important]Services[/COLOR][/COLOR][/COLOR] Commission issued a cease-and-desist order against it, saying it did not have a licence to practise.
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