Search Result for: aid money
345 results found.
Inside David Smith’s OLINT Sentence
By Robert Di Pano United States authorities are now seeking restitution and asset forfeiture from failed OLINT Ponzi schemer David Smith after his 30-year prison sentence for wire fraud and money laundering was announced Aug. 11. US Federal District Court […]
The US Downgrade’s Impact on Cayman
The recent downgrading of the United States’ federal debt rating by Standard and Poor’s may not impact Cayman in the near future, but US developments will continue to have a significant impact on the island chain. “Cayman will largely be […]
Partners in Health’s Joia Mukherjee on Haiti, Cholera and the “Free Man”
By Alexander Britell Since 2000, Dr Joia Mukherjee has been the medical director at global healthcare nonprofit Partners In Health, which is active in 12 countries around the world. Dr Mukherjee, a Harvard professor who also consults for the WHO […]
Bahamas Tackles Mortgage Delinquencies
Above: Housing Minister Kenneth Russell (BIS Photo) The Bahamas Mortgage Corporation is looking to reconstruct mortgage payments to count toward paying off the principal in a bid to reduce its 40 percent delinquency rate. “[The BMC is] still having about […]
Barbados Plans $102M Sugar Project
The government of Barbados is planning a $102 million (USD) project to diversify the sugar industry in the country with bagasse, ethanol, special sugars and molasses, Senator Darcy Boyce announced yesterday. The project initially cost approximately $200 million, but has […]
FIFA Probe: Evidence of $40,000 in Bribes to Caribbean Football Officials
FIFA President Sepp Blatter (Photo: FIFA) A report by FIFA’s ethics committee found that evidence existed to support allegations that Caribbean soccer officials received $40,000 in gifts. The initial allegations saw the suspension, and later resignation, of FIFA vice president […]
U.S. Investors Get Olint Priority
Federal Court in Orlando, Fla. U.S.-based investors will receive first priority in the Olint case, according to the U.S. Government, and the deadline for filing claims to recover money from David Smith’s failed ponzi scheme has been extended. Victim-witness specialist Elizabeth […]
David Smith to Plead Guilty to $220M Fraud in Orlando Federal Court
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 […]
Jamaicans Still Buying into Financial Schemes
Jamaica’s FSC Senior Management Team Jamaica has been home to the high-profile OLINT issue, what some have dubbed the Caribbean’s version of the Bernard Madoff controversy. But according to the Jamaican Financial Services Commission, there are 64 unregulated investment schemes […]
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