Battle for OLINT’s assets continues
Tuesday, 18 November 2008
By radio Jamaica
Lawyers representing embattled head of the foreign exchange investment club Olint, David Smith, have applied to the High Court in Turks and Caicos Island to lift a freeze on the multi-billion dollar assets of OLINT.
The application was heard yesterday and the High Court is to rule on January 9, whether the freeze will be lifted.
Thousands of OLINT’s investors in Jamaica and abroad have been left in limbo since the authorities on the British dependent territory ordered a freeze of Mr. Smith’s assets in July.
The action followed a major raid on Mr. Smith’s offices by a joint team from the United States and the Turks and Caicos.
Officials on the Turks and Caicos Islands claimed then, that OLINT was involved in suspicious financial activities.
Several computers
and files were seized in the raid.
Mr. Smith has strongly denied the allegations and has assembled a high powered team of attorneys led by Lord Anthony Gifford to press the authorities in the Turks and Caicos to release his assets. -
1 response so far ↓
cally // January 12, 2009 at 1:35 pm
I wouldn’t be surprised if DS is praying that the Courts extend the freeze, knowing fully well there is little or no money left