David Smith received a 6 year sentence in Turks and Caicos Island and also 30 years in the United States District Court for his fraudulent money laundering and other illegal actions in running a ponzi scheme as the boss of Olint. The sentencings demonstrate that the illegal scheme stretched from the Caribbean to the USA. Recent news releases indicate that the Supreme Court of Turks and Caicos Island named some of the recepients of the millions of dollars that Smith duped his investors. For example, a former prime minister of Jamaica, and government ministers of the two major political parties in the same country gained from $50,0000 U.S. to as much as millions of U.S. dollars from the scheme. The news release indicates the former prime minister received $1 million U.S.!!! David Smith defrauded hundreds of thousands of clients more than $220 million dollars, and those people who received those funds need to pay back the ill gained money.
No comments:
Post a Comment