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There are indications that a Cabinet minister, along with Olint boss, Davis Smith, Smith’s brother Wayne, and Jared Martinez, are being targeted, as US Federal authorities intensify investigations into allegations of money laundering and other criminal charges against the collapsed investment club.
Witnesses in the United States, Canada and Jamaica have been debriefed by federal agents, as US attorney in the middle district in Tampa, Florida, continue probing the missing millions.
Sunday Herald sources say a Grand Jury has been empanelled to hear allegations as early as next week and persons criminally implicated could be indicted.
A multi-task force, headed by Federal Bureau of Investigations (FBI) Inland Revenue Service (IRS), supported by agents from Drug Enforcement Agency (DEA), Federal Aviation Agency (FAA), have been digging for evidence since late last year. The investigators have been tracking information unearthed by the National Futures Association linking the transfer by David Smith of US$100 million to a Matinez-operated finance house, I Trade Inc. Martinez’s lawyer, Robert Christie, from the Law Firm Henderson and Layman, has acknowledged the wire transfer.
The investigators are probing several issues. Did the transfer amount to money laundering, after investigators found that only three per cent of the $100 million was used for trading? They are also checking with investors to find out if donations to the ruling Jamaica Labour Party said to be between US$8 and US$11 million were sanctioned.
Newly-appointed minister without portfolio, Daryl Vaz publicly admitted earlier this year that he received donations from Olint in the period leading up to the 2007 general elections. The names of several JLP big wigs were also listed as recipients of funds from the collapsed club. According to sources, the FAA would be interested in knowing why customs in the Turks and Caicos did not check a Lear jet either owned or leased by Smith which landed on several occasions at the airport there.
The investigators have an interest in who was traveling on the aircraft and what if any cargo was carried. Documents uncovered so far indicate transactions of US$700,000 US$249,000 and US$46,000 relating to the Lear jet.
The transfer of US$50 million to JIJ Investments, another Martinez company, is being investigated. One investor, who along with other partners, had over US$20 million in the club, are among several who are co-operating with US investigators.
Smith is fighting a legal battle in Turks& Caicos where he was arrested earlier this month. Funds in banks in that country remain frozen, although unconfirmed sources say on or around May 2008 Smith attempted to wire transfer US$200 million dollars from the Turks and Caicos to Wachovia Bank in New York. This wire transfer was intercepted by Federal authorities and the funds frozen. It is said that Smith has three Wachovia bank accounts located in the States of Florida and in New York.
He also transferred money to Lake Mary Florida, where his sister resides. And it is believed that David Smith invested money belonging to OLINT investors with Sir Allan Stanford, who in turn invested money with Bernie Madoff.
http://www.sunheraldja.com/article/show/2499
Witnesses in the United States, Canada and Jamaica have been debriefed by federal agents, as US attorney in the middle district in Tampa, Florida, continue probing the missing millions.
Sunday Herald sources say a Grand Jury has been empanelled to hear allegations as early as next week and persons criminally implicated could be indicted.
A multi-task force, headed by Federal Bureau of Investigations (FBI) Inland Revenue Service (IRS), supported by agents from Drug Enforcement Agency (DEA), Federal Aviation Agency (FAA), have been digging for evidence since late last year. The investigators have been tracking information unearthed by the National Futures Association linking the transfer by David Smith of US$100 million to a Matinez-operated finance house, I Trade Inc. Martinez’s lawyer, Robert Christie, from the Law Firm Henderson and Layman, has acknowledged the wire transfer.
The investigators are probing several issues. Did the transfer amount to money laundering, after investigators found that only three per cent of the $100 million was used for trading? They are also checking with investors to find out if donations to the ruling Jamaica Labour Party said to be between US$8 and US$11 million were sanctioned.
Newly-appointed minister without portfolio, Daryl Vaz publicly admitted earlier this year that he received donations from Olint in the period leading up to the 2007 general elections. The names of several JLP big wigs were also listed as recipients of funds from the collapsed club. According to sources, the FAA would be interested in knowing why customs in the Turks and Caicos did not check a Lear jet either owned or leased by Smith which landed on several occasions at the airport there.
The investigators have an interest in who was traveling on the aircraft and what if any cargo was carried. Documents uncovered so far indicate transactions of US$700,000 US$249,000 and US$46,000 relating to the Lear jet.
The transfer of US$50 million to JIJ Investments, another Martinez company, is being investigated. One investor, who along with other partners, had over US$20 million in the club, are among several who are co-operating with US investigators.
Smith is fighting a legal battle in Turks& Caicos where he was arrested earlier this month. Funds in banks in that country remain frozen, although unconfirmed sources say on or around May 2008 Smith attempted to wire transfer US$200 million dollars from the Turks and Caicos to Wachovia Bank in New York. This wire transfer was intercepted by Federal authorities and the funds frozen. It is said that Smith has three Wachovia bank accounts located in the States of Florida and in New York.
He also transferred money to Lake Mary Florida, where his sister resides. And it is believed that David Smith invested money belonging to OLINT investors with Sir Allan Stanford, who in turn invested money with Bernie Madoff.
http://www.sunheraldja.com/article/show/2499
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