David Smith, who led the failed investment scheme OLINT, will plead guilty to 23 charges in Orlando federal court. Smith, who began OLINT in Jamaican until moving it to Turks and Caicos (where he pleaded guilty to fraud and conspiracy charges last year), described OLINT as a private investment club that pooled investors’ money in foreign currency trading. Jamaican authorities raided OLINT’s offices in 2006, forcing the move to Turks and Caicos. According to U.S. prosecutors, more than 6,000 people from Florida, Jamaica, Turks and Caicos and throughout the Caribbean invested in his companies.
David Smith to Plead Guilty to $220M Fraud in Orlando Federal Court
