RBSC

Collapse

Announcement

Collapse
No announcement yet.

Olint man back in prison

Collapse
X
Collapse
 
  • Page of 2
  • Filter
  • Time
  • Show
Clear All
new posts
Previous 1 2 template Next
  • #1

    Olint man back in prison

    in Turks and Caicos and will be there for at least a month until he returns to court where he is facing another barrage of charges that he was running a Ponzi scheme.

    There were some here who were claiming he was the next best thing to sliced bread... wonder what them saying now....

    David Smith behind bars in the TCI

    Published: Wednesday | September 30, 2009


    Ceila Morgan, News Editor-Radio

    Smith
    David Smith, the former boss of the embattled foreign-exchange trading club Olint, is now behind bars in the Turks and Caicos Islands (TCI).
    Smith was remanded yesterday after he was taken to court on further charges in connection with the management of his Olint TCI operations.
    He was previously arrested on fraud charges - theft, false accounting and uttering false documents in the British territory.
    Assistant Superintendent Mark Knighton, of the TCI's Financial Investigation Unit, did not elaborate on the specific nature of the additional charges against Smith but was only prepared to say they were in connection with the management of Olint.
    Knighton told The Gleaner/Power 106 News that Smith's wife, Tracy, was also arrested on similar charges but was granted bail.
    He was, however, not prepared to divulge the grounds on which Smith was denied bail or the basis for his wife being granted bail.
    Prior to his latest court appearance, Smith was on a US$1-million bail in the TCI after he was first arrested in February. ceila.morgan@gleanerjm.com
    Solidarity is not a matter of well wishing, but is sharing the very same fate whether in victory or in death.
    Che Guevara.
    Tags: None
  • #2
    "If only I had gotten in sooner" ?

    "If only I had followed the advise of the guy from AIC, get in early, get in big and come out after 1 year" ?

    LOL !

    Comment

    • #3
      A thread from the past :


      http://www.reggaeboyzsc.com/forum1/s...ead.php?t=4374
      "‎It is easier to build strong children than to repair broken men" - Frederick Douglass

      Comment

      • #4
        Originally posted by Islandman View Post
        A thread from the past :


        http://www.reggaeboyzsc.com/forum1/s...ead.php?t=4374
        Yucks- Mosiah should either be filty rich or broke. Mosiah come forth!

        I would still like to know what David did wrong because he was trading unlike Bernie Madoff
        The same type of thinking that created a problem cannot be used to solve the problem.

        Comment

        • #5
          "Trading" ? You're being sarcastic?
          Peter R

          Comment

          • #6
            Originally posted by Peter R View Post
            "Trading" ? You're being sarcastic?
            Was running a Ponzi scheme or was he tradining foreign exchange and make some bad trades ?

            Bye the way, have you noticed the color of the collar of his shirt. The observer struck a low blow.
            The same type of thinking that created a problem cannot be used to solve the problem.

            Comment

            • #7
              Come now Time, you can't charge someone for making bad trades.


              I still cannot understand how people believed that it is possible to consistently make 10%+ a month year after year trading forex. But then again not even Isaac Newton was immune to the mania of an investment bubble.
              "‎It is easier to build strong children than to repair broken men" - Frederick Douglass

              Comment

              • #8
                Agreed. Like you, I am no expert on trading but logic still tells me that unless forex fluctuates so widely I cannot see how the 10% / per month was possible in any sustainable matter.

                I was "told"m to invest in Cashplus and also OLINT, when I heard the returns I baled. Had I gotten in and out at the right time I might have sung a different song but.... the sad thing is that I know MANY people have been hurt by this eventuality and I feel for many of them...and I am not talking about those who lost money; those were greedy and the euphoria of the rich returns blinded them to reality.

                Others have been hurt emotionally and it pains me to see them suffer.
                Peter R

                Comment

                • #9
                  Originally posted by Peter R View Post
                  Agreed. Like you, I am no expert on trading but logic still tells me that unless forex fluctuates so widely I cannot see how the 10% / per month was possible in any sustainable matter.

                  I was "told"m to invest in Cashplus and also OLINT, when I heard the returns I baled. Had I gotten in and out at the right time I might have sung a different song but.... the sad thing is that I know MANY people have been hurt by this eventuality and I feel for many of them...and I am not talking about those who lost money; those were greedy and the euphoria of the rich returns blinded them to reality.

                  Others have been hurt emotionally and it pains me to see them suffer.

                  I dont know what he was charged for, it could be money laundering or operating a ponzi scheme. I never invested, I would not trust my money to an unregulated one person investment club.
                  The same type of thinking that created a problem cannot be used to solve the problem.

                  Comment

                  • #10
                    He he he..actually this weas taken form the Gleaner website...but I know it is easy to blame the Observer for everything...
                    Solidarity is not a matter of well wishing, but is sharing the very same fate whether in victory or in death.
                    Che Guevara.

                    Comment

                    • #11
                      David Smith nuh have nutting fi worry bout !

                      "no weapon forged against you will prevail, and you will refute every tongue that accuses you. This is the heritage of the servants of the LORD, and this is their vindication from me," declares the LORD."

                      We, Children of a lesser God are still depending on you !

                      Comment

                      • #12
                        Is dat the Pastor dem who did put all them congregation tithes and offerings inna Olint a preach pon Sunday these days?
                        "‎It is easier to build strong children than to repair broken men" - Frederick Douglass

                        Comment

                        • #13
                          Well he might have to fight off bubba for a month but.... you mek it sound like he is the new Messiah.... wonder how the thousands who lost millions feel about that
                          Solidarity is not a matter of well wishing, but is sharing the very same fate whether in victory or in death.
                          Che Guevara.

                          Comment

                          • #14
                            Thanks Iman, as you could see mi try hard.
                            Mi ah try fine ah name fi yuh, not genius but something in the high praise order Yuh juss add more cement to di level of respek mi haff fi yuh.

                            Comment

                            • #15
                              Ben, nuh you same one did ah bawl fi di white man come
                              sort out di tings ah yaad (even advocating for Colin Powell to take over)

                              Now di feds ah sort out di tings; you ah chant Psalms. Ben I notice these days the US is not in your good books. Why? kudos to di white man, him mek yuh fine religion. Yuh ah go sing "nearer my God to me.." nex

                              Comment

                              Previous 1 2 template Next
                              Working...
                              X