Search Result for: ponzi

17 results found.

Jamaican House Passes Anti-Ponzi Scheme Legislation

Above: Jamaica’s Parliament By the Caribbean Journal staff Jamaica’s House of Representatives passed new legislation this week aimed at combating the creation of Ponzi or pyramid schemes. The Securities (Amendment) Act will enhance regulation of the securities industry by Jamaica’s […]

Is Haitian Politics a Pyramid Scheme?

The problem with politics in Haiti By Ilio Durandis CJ Contributor I have had some time to think and analyze Haitian politics, especially since the Fall of Duvalier. And one theme that keeps coming up is that of a pyramid […]

Jamaica’s Productivity Problem

By Dennis Chung CJ Contributor AFTER 12 previous IMF agreements, Jamaica is once again at a crossroads. We are once again at a place where we are having a debate about how much pain is being inflicted by the agreement, […]

Antigua and Barbuda, Caribbean Economic Powerhouse?

Above: St John’s Harbour in Antigua (CJ Photo) By Alexander Britell Can Antigua be the Caribbean’s version of Singapore? That’s the stated goal of the new government of Prime Minister Gaston Browne, whose Antigua and Barbuda Labour Party won the […]

Antigua Signs Deal For $740 Million Investment Project With Chinese Firm

Above: Antigua PM Gaston Browne and Director of Yida International Investment Antigua Limited, Yida Zhang, sign the agreement on Friday (Photo: ABG) By the Caribbean Journal staff Antigua and Barbuda’s government says it has signed a memorandum agreement with a […]

United States Government to Return Funds to OLINT Victims

Above: David Smith By the Caribbean Journal staff The United States government plans to compensate investors who lost money to the OLINT Ponzi scheme operated by Jamaica’s David Smith. The scheme was first operated in Jamaica and subsequently in the […]

Op-Ed: David Smith’s Bid for Parole: A Test for Turks and Caicos

By Robert Di Pano Op-Ed Contributor IT WOULD BE in the best interest of the Turks and Caicos Islands from an enforcement standpoint to deny convicted Caribbean Ponzi schemer David Smith’s application for parole. The Governor and Parole Board members […]

David Smith Applies for Parole

Above: David Smith By Alexander Britell David Smith, who led the OLINT Ponzi scheme in Jamaica and the Turks and Caicos Islands, has applied for parole, Caribbean Journal has learned. Smith is currently serving a 6.5-year sentence in Her Majesty’s […]

Achieving Life’s Equilibrium

Above: islets in the Caribbean Sea (CJ Photo) How does one live a balanced life and find the right equilibrium— particularly in the Caribbean? Dennis Chung, a chartered accountant and economic expert, believes he has the answers. And it’s what […]

Op-Ed: Corruption In the Caribbean

By David Rowe Op-Ed Contributor THE ARRESTS OF McKeeva Bush and Michael Misick in one-week span focused on the world of corruption in the Caribbean. The two most prestigious Caribbean offshore financial centres ended up with a pair political leaders in […]

Op-Ed: Corruption in Turks and Caicos

By David P Rowe Op-Ed Contributor In the Caribbean, it is well established that political corruption contributes to the spread of organized crime and terrorism. Corrupt politicians participate directly or indirectly in the trafficking of drugs, arms and human beings. […]

The Caribbean Year in Review

For the Caribbean, it was the Year of the Vote. By year’s end, five countries, Jamaica, Guyana, St Lucia and Haiti and the British Virgin Islands, will have chosen new leadership, with Jamaicans headed to the polls on Thursday. It […]

Op-Ed: Jamaica at a Crossroads

By Kent Gammon Op-Ed Contributor The Jamaican people will decide their fate on the Dec. 29 in the country’s 16th general election. They face a major crossroads: go with the Jamaica Labour Party (JLP) which will mean austerity measures due […]

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 […]

David Smith Gets 30 Years in Prison

By Robert Di Pano Caribbean Ponzi schemer David Smith, whose OLINT scheme defrauded investors across Florida and the Caribbean out of over $220 million, has been sentenced to 30 years in federal prison in the United States by Judge Mary […]

OLINT Investors Await Smith Sentencing

Above: Federal District Court in Orlando, Fla. By Robert Di Pano David Smith, the mastermind behind the Caribbean-based Olint Ponzi Scheme that bilked investors out of over $220 million, will be sentenced Aug. 11 in United States District Court in […]

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 […]

Montego Bay Is Getting a New Riu All-Inclusive Next Month