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Olint head David Smith indicted in the US
2010-08-18 17:00:51 | (5 Comments)
Prosecutors in the United States have indicted David Smith the embattled head of the failed foreign currency [COLOR=blue !important][COLOR=blue !important]trading[/COLOR][/COLOR] scheme Olint on 23 charges in the United States.
In an indictment handed down in the US District Court in the Middle District of Florida, [COLOR=blue !important][COLOR=blue !important]Orlando[/COLOR][/COLOR] Division today Smith is charged with four counts of wire fraud, one count of conspiracy to commit money laundering and 18 counts of money laundering to conceal specified unlawful activity.
The US authorities are also seeking to seize US$128-million which they claim Smith gained through wire fraud.
They have also requested the court to allow them to seize a premises in Florida which Smith purchased allegedly with criminal proceeds, plus precious gemstones, precious metals, jewellery and other property which are owned by Smith.
The former Olint head, is in custody in the Turks and Caicos Islands where he is facing 30 charges, and is now expected to be the subject of a extradition request from the US.
In the indictment released yesterday US authorities claimed that Smith's fraudulent transactions started no later than February 2005 and continued through July 2008.
According to the indictment, Smith: "Knowingly, wilfully and with intent to defraud, did devise a scheme and artifice to defraud [COLOR=blue !important][COLOR=blue !important]investors[/COLOR][/COLOR], and for obtaining money and property from investors by means of false and fraudulent pretences, representations and promises..."
It continues to charge that Smith broke the law: By soliciting and obtaining over US$200-million of funds under false pretences, failing to invest investors funds as promised and misappropriating and converting investors funds to (his) benefit and the benefit of others without the knowledge or authorisation of the investors..."
Olint head David Smith indicted in the US
2010-08-18 17:00:51 | (5 Comments)
Prosecutors in the United States have indicted David Smith the embattled head of the failed foreign currency [COLOR=blue !important][COLOR=blue !important]trading[/COLOR][/COLOR] scheme Olint on 23 charges in the United States.
In an indictment handed down in the US District Court in the Middle District of Florida, [COLOR=blue !important][COLOR=blue !important]Orlando[/COLOR][/COLOR] Division today Smith is charged with four counts of wire fraud, one count of conspiracy to commit money laundering and 18 counts of money laundering to conceal specified unlawful activity.
The US authorities are also seeking to seize US$128-million which they claim Smith gained through wire fraud.
They have also requested the court to allow them to seize a premises in Florida which Smith purchased allegedly with criminal proceeds, plus precious gemstones, precious metals, jewellery and other property which are owned by Smith.
The former Olint head, is in custody in the Turks and Caicos Islands where he is facing 30 charges, and is now expected to be the subject of a extradition request from the US.
In the indictment released yesterday US authorities claimed that Smith's fraudulent transactions started no later than February 2005 and continued through July 2008.
According to the indictment, Smith: "Knowingly, wilfully and with intent to defraud, did devise a scheme and artifice to defraud [COLOR=blue !important][COLOR=blue !important]investors[/COLOR][/COLOR], and for obtaining money and property from investors by means of false and fraudulent pretences, representations and promises..."
It continues to charge that Smith broke the law: By soliciting and obtaining over US$200-million of funds under false pretences, failing to invest investors funds as promised and misappropriating and converting investors funds to (his) benefit and the benefit of others without the knowledge or authorisation of the investors..."
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