What is the role and function of the FIU?
In this battle against money laundering and terrorist financing, we all have an important role to
play and most certainly the Financial Intelligence Unit (FIU).
Those involved in the fight against money laundering and terrorist financing must have access to
certain kinds of financially related information in order to conduct financial investigations. In this
regard, the FIU plays an increasingly important role in this process.
Money launderers manipulate their illicit proceeds in an endeavor to conceal or disguise their true
source and movement, with the ultimate objective of integrating these proceeds into, and through,
the legitimate economy. Those that finance terrorism seek to conceal the source of the funds and
disguise their illicit use of funds in support of terrorism. Financial investigations are assisted
greatly by a country’s comprehensive regime that requires the reporting of certain information
and record keeping and that facilitates information sharing among competent authorities, both
domestically and internationally. The primary goals of financial investigations are to identify,
trace, and document measures; and to support the prosecution of criminal activity.
Financial Investigations seek to discover the financial trail left by criminals. As part of this
process, investigators analyze financial institution account records, real estate records, documents
on liens and judgments, corporate registries, brokerage and mutual fund accounts, insurance
contracts and a full spectrum of other financial and business related records. Illicit financial
operations have recently grown more sophisticated and complex, requiring traditional
investigators to acquire new and specialized financial intelligence tools.
The Financial Action Task Force on Money Laundering (FATF), which is recognized as the
international standard setter for anti-money laundering (AML) and combating the financing of
terrorism (CFT), provides in The Forty Recommendations on Money Laundering (The Forty
Recommendations), that each country should establish an FIU. Further, FATF urges countries to
impose measures on financial institutions and certain non-financial business and professions
requiring them to maintain records on the identities of their clients and their transactions, and to
report any suspicious transactions. Information generated by these reporting and record keeping
requirements is to be reported to the country’s FIU and is used to reconstruct transactions, to
establish the link between individual clients and a particular business, to prove the “state of mind”
of an individual, and finally, to identify the role of an individual in a criminal or terrorist
financing activity.
Information reporting and record keeping requirements generate substantial financial data, much
of which is not easily useable by competent authorities without further analysis. If a country’s
AML and CFT institutional frameworks are to be at all effective, the country must institute a
reliable, efficient system for processing, analyzing, and disseminating this information. Without
such a system in place, law enforcement has a much more difficult time detecting criminal or
terrorist financial dealings. The pressing need for effective data analysis of possible financial
crime explains, in part, the proliferation of FIUs and the growing importance of their roles in the
international effort to prevent, detect and prosecute money laundering and terrorist financing.
The Egmont Group of Financial Intelligence Units (Egmont Group), which is the international
standard setter for FIUs, adopted the following definition of an FIU:
2
An FIU is a central, national agency responsible for receiving (and, as permitted, requesting),
analyzing, and disseminating to the competent authorities, disclosures of financial information (i)
concerning suspected proceeds of crime, or (ii) required by national legislation or regulation, in
order to counter money laundering and terrorist financing.
In June of 2000, the FATF listed The Bahamas among 14 other offshore financial centres, which
it identified as Non-Cooperative Countries and Territories in preventing money laundering. In
addition, the Financial Stability Forum (FSF) launched its separate attack on The Bahamas
claiming that we had weak legislation governing money laundering and gave us its lowest ranking
for its regulatory oversight. These were serious and alarming challenges to our legitimate and
long-established industry.
In response, there were several legislative and administrative changes brought about by the
FATF’s blacklisting which were designed to bring the financial services sector into compliance
with international standards. One of the new laws enacted was the Financial Intelligence Unit
Act, 2000, which came into effect on December 29th 2000. This piece of legislation created and
empowered the FIU.
The FIU of The Bahamas is an autonomous body attached to the Ministry of Finance. The main
rationale for such an arrangement is to establish a “buffer” between the financial sector (and,
more generally, non-financial businesses and professionals subject to reporting obligations) and
the law enforcement authorities in charge of financial crime investigations and prosecutions.
The core functions of the FIU is to receive, obtain, analyze and disseminate information on
suspicious transactions (STRs) from financial institutions in The Bahamas, which may relate to
the proceeds of offences under the Proceeds of Crime Act, 2000 and since December 2004 the
Anti-Terrorism Act, 2004.
In August 2006, the FIU revised the 2001 Suspicious Transactions and Anti-Money Laundering
Guidelines with exclusive focus on the reporting of Suspicious Transactions (STRs) and the
extension of the Guidelines to include financing of terrorism. The revision was also prompted by
the need to keep pace with emerging trends in the financial services industry both locally and
internationally. An initial draft was released for comments to the financial services industry,
including local regulators and the general public in November 2006; the feedback was good. The
official document was projected for March 2007.
Ever so often, the FIU has to issue advisories to the general public. For instance, the ever-present
Nigerian Scam Letter continued to present a wide array of permutations prompting the issuance
of a “Public Notice” by the FIU in August 2006 advising caution.
I cannot emphasize enough that the FIU is more than a mere database (depository) for financial
information required to be submitted by legislation or national regulatory authorities. One of the
functions of the FIU is to analyze suspicious transaction reports. At the FIU, we must analyze all
data that we receive because so many suspicious transaction reports (STRs) and other financial
disclosures often appear on the surface to be innocent transactions. Ordinary deposits,
withdrawals, fund transfers, or the purchase of a security may, however, be important pieces of
information detecting and prosecuting money laundering and terrorist financing. The Unit retains
records of all information received for a period of 5 years from the time of receipt.
3
It is only through examination and analysis that the FIU can detect criminal financial transactions.
Distinguishing truly suspect transactions from those that are unusual requires informed analysis.
Without it, the most sophisticated data gathering in the world will be utterly useless. In order to
facilitate a thorough analysis of STRs, the FIU frequently request information from financial
institutions via Production Orders. The FIU can take provisional measures to deal effectively with
cases where urgent action is needed to preserve assets that might become subject to confiscation.
Hence, the FIU has the power to place a 72-hour restraint on any account or transaction. In
addition, upon request from the Commissioner of Police, we can restrain an account(s) or
transaction for an additional five days after an STR was sent to the police for investigation.
Upon analyzing an STR, we will then make an assessment as to whether or not the police should
become involved to investigate the matter. It is important to note that it is the responsibility of the
police to conduct the investigation and not the FIU. We are pleased to say that we enjoy an
excellent working relationship with the Royal Bahamas Police Force in particular the Commercial
Crime Section of the Central Detective Unit, the Tracing and Forfeiture Section of the Drug
Enforcement Unit, the Security & Intelligence Branch and Interpol. In this regard, we frequently
provide information, subject to conditions, to the Commissioner of Police.
The FIU never abuses its powers and all information in its possession is confidential. After all,
the relationship between the FIU and the financial sector is one built on trust. In this train of
thought, the FIU always endeavor to keep the financial sector in “the loop”. While there are
obviously constraints on what the FIU can tell a reporting institution about a particular report
(especially if that report involves an ongoing enquiry) the Unit always give general feedback to
institutions about the quality and usefulness of their reports.
The FIU is also very active in the international area. To begin with, because so much of money
laundering and terrorist financing are cross-border activities, the FIU is required to share financial
intelligence with other FIUs worldwide in order to be effective partners in the international fight
against these crimes. Another feature of the FIU is its ability to cooperate in an efficient and rapid
manner with all its foreign counterparts. Is it important to note that the sharing at the international
level occurs through direct and secure communication with our counterparts. The FIU continues
to hold discussions with a number of Financial Intelligence Units with a view to signing
Memorandum of Understanding for the sharing of information with other countries. We have
shared information with numerous countries in the past such as the United Kingdom, United
States of America, Canada, Bolivia, Bulgaria, Luxembourg and Italy to name a few. The FIU
provides information (sometimes via Spontaneous Disclosures) relating to the commission of an
offence to any Foreign Financial Intelligence Unit subject to any conditions as may be considered
appropriate by the Director.
Further, the Financial Intelligence Unit of the Commonwealth of The Bahamas became the 54th
member of the Egmont Group of Financial Intelligence Units during the Group’s June 2001
meeting, held in The Hague, Netherlands (there are 121 member nations). The FIU is an active
participant in the Egmont “Outreach” Working Group and has monitored and successfully
sponsored the FIU’s of the following countries for membership in the Egmont Group: Anguilla,
Antigua & Barbuda, Barbados, Dominica, Belize, St. Vincent & The Grenadines, St. Kitts and
Nevis and Grenada. The FIU continues to monitor and sponsor the FIUs of Turks & Caicos
Islands, Guyana, Montserrat, St. Lucia, Trinidad & Tobago and Haiti for membership in the
Egmont Group.
4
Members of the Egmont Group have access to a secure website, which is not available to the
public, to exchange information.
The Caribbean Financial Action Task Force (CFATF) is comprised of thirty member countries
whose goal is to develop and promote strategies in the fight against money laundering and
terrorist financing at national, regional and international levels. The Bahamas is an active member
of CFATF. The Bahamas’ FIU participates in the Plenary, Typology and Heads of FIU Meetings
of CFATF.
Pursuant to the provisions of the Financial Intelligence Unit Act, 2000, the FIU continues to
provide training on AML/ CFT, legal and analytical issues to financial institutions upon request.
Most of the entities requiring training have been Banks and Trust companies, but training has also
been provided to real estate companies, law firms, internal auditors and to co-operative societies.
The staff, particularly Legal Counsel and the Analysts is the primary trainers in this regard and
have been exposed to a wide array of AML/CFT training both locally and abroad.
Pursuant to section 10 of the Financial Intelligence Unit Act, 2000, the Unit publishes annual
reports. The reports outline the operations of the FIU for the previous year inclusive of
expenditure, initiatives, statistics, trends, and typologies.
There are seventeen members of staff at the FIU. The staff consists of a Director, Deputy
Director, Public Accountants, Counsel and Attorney, Head of Operations, Police Officers, IT
Specialist and support staff.
In moving forward, the FIU intends to launch an online document scanning, storage and retrieval
system.
With the establishment of the FIU, this provides another means by which The Bahamas has
exhibited its commitment to international cooperation, combating money laundering and terrorist
financing.
5
What is a National AML/CFT Strategy?
At this juncture, it is only practicable that we define what a National AML/CFT Strategy is?
Essentially, the National Strategy sets forth a comprehensive action plan that responds to the
challenges that money laundering and terrorist financing presents. A National Strategy illustrates
the importance of reducing predicate crime, maintaining the integrity of the financial system,
combating global “public bad” and supports the view of the AML/CFT regime as having
prevention and enforcement pillars with multiple elements. Important factors to consider in
formulating a National Strategy includes what needs to be improved, what is the priority and what
kind of resources are available.
Money laundering, at its simplest, is the act of making money that comes from Source A look like
it comes from Source B.
A more detailed definition states, “Money laundering occurs when criminals seek to make
illegally obtained funds look legitimate by funneling them through a string of banks and
businesses until the money’s origin is obscured. Money laundering is an integral component of
large-scale criminal enterprises. Drug trafficking, firearms smuggling, international bank and
securities frauds, and other specified unlawful activity generate illicit proceeds that criminals
must conceal. Criminals often employ lawyers, bankers and accountants to disguise their
unlawful monies as legitimate income by developing ingenious, high-tech, multinational schemes
that abuse legitimate financial institutions. Once criminals successfully disguise their illicit
proceeds, they can reinvest them in their criminal organizations, expand their operations, and
profit from their crimes.”
Money launderers want to be able to transfer funds across international lines, move money
quickly, and minimize inquiries into their finances and activities. Persons often question why so
much attention is placed on money laundering and the principal reasons why international
agencies and national governments seek to prevent money laundering include:
1. Prevent money laundering.
Failure to prevent money laundering permits criminals to benefit from their actions, thus making
crime a more attractive proposition. It also allows criminal organizations to further criminal
activity. These factors combine to increase the level of crime. International measures to prevent
money laundering make the world a safer place in which we live.
2. Financial Stability.
The unchecked use of the financial system for money laundering has the potential to undermine
individual financial institutions and ultimately the integrity of the entire financial sector. Some
might argue that developing economies cannot afford to be too selective about the sources of
capital they attract. But postponing action is dangerous. The more it is deferred, the more
entrenched organized crime can become. As with the damaged integrity of an individual financial
institution, there is a damp effect on foreign direct investment when a country’s commercial and
financial sectors are perceived to be subject to the control and influence of organized crime.
Fighting money laundering and terrorist financing is therefore a part of creating a business
friendly environment, which is a precondition for lasting economic development.
6
3. Increase in financial crime.
A continued increase in criminal activity and the successful use and laundering of the proceeds of
crime endangers respect for the law; thereby financial stability is of vital importance. This in turn
promotes economic crime such as fraud, exchange control violations and tax evasion.
4. Corruption.
Money laundering facilitates corruption; ultimately the accumulation of economic and financial
power by unscrupulous politicians or by criminal organizations can undermine national
economies and democratic systems. Poverty simply cannot be eradicated in countries where high
levels of corruption exist.
5. A vicious cycle.
The effect of successfully cleaning drug money is clear: More drugs, more crime, more violence.
Further, since the dawn of the new money laundering issue in 1986, nothing has galvanized the
nations of the world and some of their most powerful organizations to reinforce moneylaundering
laws more than the September 11th terrorist attacks on the United States and the global
dragnet to capture those responsible. Although terrorist funds are not usually derived through
illegal means, these funds, however, are used for a purpose rather than the profit of crime.
The connection between money laundering and terrorism is somewhat complex, but it plays a
crucial role in the sustainability of terrorist organizations. Most people who financially support
terrorist organizations do not simply write a personal check and hand it over to a member of the
terrorist group. They send the money in roundabout ways that allow them to fund terrorism while
maintaining anonymity. And on the other end, terrorists do not use credit cards and cheques to
purchase the weapons, plane tickets and civilian assistance they need to carry out a plot. They
launder the money so authorities cannot trace it back to them and foil their planned attack.
Interrupting the laundering process can cut off funding and resources to terrorist groups. Hence,
uncovering the roots of illegally obtained funds and terrorist financing is one of the biggest
challenges facing the world today.
With this in mind, the Financial Intelligence Unit (FIU) continues to perform its function as
mandated by the Financial Intelligence Unit Act, 2000 as it is responsible for receiving,
analyzing, obtaining and disseminating information, which relates to or may relate to the
proceeds of offences under the Proceeds of Crime Act, 2000. In this vein, the FIU remains in the
forefront of the fight against AML/CFT in The Bahamas, as it is the central agency in The
Bahamas for the receipt of all suspicious transaction reports. Moreover, the FIU is open to
suggestions and ideas from the financial sector and the general public in any suitable forum with
a view to suppressing AML/CFT in our country.
While we have made important strides since the package of financial legislation in 2000 with a
view to concentrate our attention on the abuse of the financial system by criminals, the techniques
criminals and terrorists use to exploit the financial system continue to evolve. Building on the
successes and experience of the past, we are resolved to remain vigilant and proactive in our
efforts to disrupt and dismantle the organized criminal activities that threaten not only our
financial system but also our national security and inevitably our way of life. Money laundering
7
techniques are innumerable, diverse, complex, subtle and secret. Money laundering is a dynamic
threat requiring a dynamic response.
More important, as a small nation competing worldwide in the financial arena, the costs
associated with not complying with global standards no doubt may well exceed the related
benefits. Given the prominence of financial services to the domestic economy, coupled with
global competition, The Bahamas cannot afford to “stand pat” and rest on our laurels. It is
important to note that the implementation of National AML/CFT Strategies by numerous
countries is an emerging trend in the global community.
It is in this spirit that we are gathered today to seek your input in the formulation of a National
Strategy for the Prevention of Money Laundering and The Financing of Terrorism in and
through the Financial System of The Bahamas (“National Strategy”). To do so, developing
strong collaboration efforts for private sector participation is the key. The goals of a National
Strategy includes but limited to the following:
Goals, objectives, and priorities- Comprehensive, research-based goals, objectives, and priorities
for reducing money laundering and the financing of terrorism in The Bahamas;
Emphasis on training- a National Strategy emphasizes the importance of asset forfeiture as the
most direct method of depriving criminals of their ill-gotten gains. In this regard, focus is placed
on having highly trained and experienced Analysts, criminal and financial investigators and
prosecutors to dismantle large, complex, money-laundering schemes and to undertake asset
forfeiture investigations. Also, continuous study in AML/CFT typologies is necessary to keep up
with the evolving environment and to adjust AML/CFT procedures and due diligence programs
accordingly.
Enhancement of intergovernmental cooperation;
International cooperation – Large-scale money laundering schemes invariably contain crossborder
elements. Since money laundering is an international problem, international co-operation
is a critical necessity in the fight against it. National governments need to work with other
jurisdictions to ensure that launderers are not able to continue to operate merely by moving to
another location in which money laundering is tolerated.
A National Strategy establishes the formation of a system to collect information that will
provide law enforcement with an accurate picture of its anti-money laundering and counter
terrorist financing programs. Once a National Strategy is implemented, evaluation can begin to
determine the success level attained. Other measurable methods will include an examination of:
● Quantitative factors, such as the number of Suspicious Transaction Reports filed,
money laundering investigations, prosecutions, convictions and accounts restrained,
which will provide a numerical snapshot of our efforts from year to year.
● Qualitative factors – each investigation, prosecution, or conviction will be assigned a
weighted value to mirror the case’s complexity, importance, and scope.
● The criminal marketplace price of laundering money that will help determine whether
anti-money laundering efforts are making it more expensive and more difficult for
criminals to launder their illicit proceeds. After all, targeting the money laundering aspect
8
of criminal activity and depriving the criminal of his ill-gotten gains means hitting where
he is vulnerable. Without a useable profit, the criminal activity will not continue.
● Forfeiture and seizure data – related to money laundering activity that will represent a
monetary value of efforts underway.
Data regarding trends in money laundering and related financial crimes- the need for
additional information necessary for the purpose of developing and analyzing data in order to
ascertain financial crime trends;
Enhancement of the role of the private sector in prevention- the enhancement of partnerships
between the private financial sector and law enforcement (Royal Bahamas Police Force) with
regard to the prevention and detection of money laundering and the financing of terrorism,
including providing incentives to strengthen internal controls and to adopt on an industry wide
basis more effective policies.
A National Strategy emphasizes a need for clarity in rules and regulations for private sector to
fully understand its responsibility and obligations.
To safeguard the financial sector, the Financial Intelligence Unit (FIU), financial regulators, and
the Royal Bahamas Police Force will and must continue to work closely with the financial
industry to fight money laundering and the financing of terrorism. The FIU and financial
regulators will develop and publish guidelines alerting the financial industry to money laundering
threats and the development and application of AML controls. The FIU will also work to enhance
information sharing between the Royal Bahamas Police Force and the financial community.
The National Strategy paves the way forward. The Strategy directs the government’s resources
against money laundering and those who finance terrorist activities and individuals. It is a good
plan and a critical mission. In a local context, all stakeholders (that is law enforcement,
supervisors, regulators, policymakers and industry practitioners) will have an important role to
play in the ongoing observance of and maintenance of high standards and the success of a
National Strategy. This is truly a collaborative process reflecting the input of all the relevant
players. A national strategy is inevitable. Hence, we appreciate your valuable input as we
continue to battle the scourge of money laundering and terrorist financing.
WHY A NATIONAL
STRATEGY ON AML/CFT?
Prepared by
The Financial Intelligence Unit
Norfolk House, Fredrick Street
Nassau, Bahamas
15th October 2007
2
TABLE OF CONTENTS
• Global Trend
• Compliance with International Standards
• Need for a Single Comprehensive Document
• Scarce National Resources
• Need to Build Capacity
• Continuing Evolution in Financial Services
• National Security Considerations
• Need to be Pro-Active
3
GLOBAL TREND
• Development of National Strategies to Prevent
Money Laundering and Terrorism Financing is a
relatively new trend globally.
• The U.S. has had such a strategy for the last several
years and same has been updated on a regular
basis.
• Member countries of the Egmont Group are now
moving in this direction e.g. Mexico, Brazil and
Guernsey.
• Slow start in this direction may be due to the novelty
of the exercise but pace will accelerate as countries
warm up to the concept and ML/TF continue to
present new challenges.
4
COMPLIANCE WITH
INTERNATIONAL STANDARDS
• The FATF’s 40 + 9 Recommendations have become
entrenched as the “Global Standard” for assessing
nation states’ efforts and commitment to combating
Money Laundering and Terrorism Financing.
• The National Strategy will provide a means to ensure
ongoing compliance with such standards while
having regard to any overriding national interests.
• The National Strategy will provide relevant
parties/stakeholders with a set of measurable goals
and outcomes.
• The document will be sufficiently flexible to allow for
future amendments to the 40+9 Recommendations.
5
SCARCE NATIONAL RESOURCES
• AML/CFT initiatives imposes tremendous costs on a
country’s national resources, especially small
countries such as the Bahamas with limited
resources.
• Scarce resources including time, money, equipment
and personnel have to be redeployed from other
productive uses.
• The current AML/CFT Regime is multi-faceted and
can be further enhanced through a coordinated
national effort which assesses risks/vulnerabilities
which ML/FT presents supported by
recommendations address same.
• A well coordinated plan, enshrined in a “National
Strategy” document will reduce costs by reducing
duplication of effort.
6
NEED TO BUILD CAPACITY
• The development of well “trained” personnel within
the jurisdiction, via institutional AML/CFT training, is
a critical to the detection and prevention of money
laundering and terrorism financing.
• “Goals” and “objectives” identified in the National
Strategy will drive the process to develop the
requisite level of competency through on-going
AML/CFT training and capacity building in priority
areas.
• The “Train-the-Trainer” approach over time will
facilitate the institutionalization of AML/CFT training.
7
CONTINUING EVOLUTION
IN FINANCIAL SERVICES
• The rate of change in Financial Services continues to
outpace the average person’s ability to comprehend
the technical features of some products/services
now available.
• The phenomenon is largely attributable to advances
in technology and shareholders and consumers
appetite for profits.
• Complex financial products/services presents the
risk of possible abuse for criminal purposes.
• The National Strategy should explore ways of
addressing this “gap” between potential/actual uses
of financial products and consumers’ knowledge
8
NATIONAL
SECURITY CONSIDERATIONS
• Undetected funds derived from criminal activities can distort
the level of legitimate commercial activity in the domestic
economy i.e. a false economy.
• Corruption of public officials and influential persons in the
community as a result of access to “easy money” can
undermine societal underpinnings.
• ML/TF may attract undesirables to our shores and or financial
services industry with the potential for escalation in criminal
activities.
• ML/TF can impair the development of important financial
institutions and/or destabilize existing ones in the absence of
strong AML/CFT controls.
• The Bahamas has been identified as a potential source of “soft
targets” for terrorists which may/can negatively effect tourism.
9
NEED TO BE PRO-ACTIVE
• Based upon information provided by stake
holders, there will be a better overall under
standing of areas presenting high risk of
ML/TF.
• Same will guide public and private sectors
in their AML/CFT efforts.
• Facilitate interagency cooperation
WHAT DOES THIS MEANS FOR THE BAHAMAS?
There is no question that Money Laundering and the Financing of Terrorism
can damage national financial systems. It is said among other effects, Money
Laundering and the Financing of Terrorism destabilizes national economies by
increasing the demand for cash, increasing volatility of interest and exchange rates
and in some cases even contribute to higher inflation.
According to the World Bank “illegitimate financial holdings, assets and
enterprises are unreliable sources of investment capital for sustainable economic
development. Countries with weak AML/CFT controls could damage their
reputation in international financial markets, and thus may not attract international
flows such as foreign direct investment and/or funding. Developing and transitions
economies strive to comply with international codes of conduct to combat money
laundering and the Financing of Terrorism.
The Bahamas as mature financial center has always been subject to close
scrutiny by international organizations. Therefore it is of utmost importance that
The Bahamas be complaint with the International AML/CFT standards set. The
National Strategy on Prevention of Money Laundering and the Financing of
Terrorism enables The Bahamas to develop and implement domestic systems that
are compatible with International AML/CFT standards and criteria.
The Financial Action Task Force (FTAFT) on Money Laundering has
developed international standards on AML/ CFT. The forty (40) plus nine (9)
Special Recommendations provide the basic framework for t he Prevention of
Money Laundering and the suppression of Terrorism Financing. The Bahamas, to
the extent possible, should always endeavour to be Complaint with these
international Recommendations.
Across, the world new measures are being introduced and existing measures
tightened to combat Money Laundering and the Financing of Terrorism. The
Development of a National AML/CFT is a first for the Bahamas and is in keeping
with an emerging global trend. Countries such as Brazil, Mexico, Guersney and the
United States of America have already produced their National Strategy on Money
Laundering. This National Strategy on the Prevention of Money Laundering and
Financing of Terrorism could be a road map which will ensure that The Bahamas,
given the importance of the financial services to our economy, has an Action plan
which will provide all relevant parties o identify where it is headed, and what is
required, in this global fight against Money Laundering and Financing of
Terrorism.
The Bahamas has an obligation to protect the integrity of its financial system.
While it is noted that it is important to comply with international standards it is
equally important that in developing our National Strategy that we consider our
jurisdiction’s culture and economy, and its legal and law enforcement traditions and
capabilities.
Further, this National Strategy on the Prevention of Money Laundering and
the Financing of Terrorism will demonstrate The Bahamas’ continuous efforts and
commitment, to use all tools available, which include input from law enforcement
agencies, financial and regulatory institutions, and the private sector, to confront
the global threat of Money Laundering and Financing of Terrorism.
The National Strategy will allow all strategic players and stakeholders to
collectively pool their expertise and to coordinate activities that will prevent the
laundering of money and the flow of terrorist fund through our financial system.
Further, a National AML/CFT Strategy will allow The Bahamas to identify
the Money Laundering “risks and vulnerabilities” in The Bahamas and to assess
each area, including non-designated, non-financial businesses and professions,
according to the associated level of risk.
Also, a National AML/CFT Strategy will identify “training needs” if any, and will
allow The Bahamas to formulate “national goals” based upon risks, vulnerabilities
and training needs.
By enabling The Bahamas to systematically assess the risks and
vulnerabilities associated with maintaining a robust AML/CFT Regime: The
National Strategy on the Prevention of Money Laundering and Financing of
Terrorism will, accordingly, allow stakeholders to better identify, measure and
mitigate these risks and vulnerabilities. Consequently, The Bahamas will be able to
make better choices about the allocation of its resources, be it on a national or
sector by sector basis.
Most importantly, The National AML/CFT Strategy allows The Bahamas to
assess its AML/CFT controls and assess whether or not it is meeting its international
standards. It allows the Country to examine where we are in respect our AML/CFT
Strategy, make recommendations for improvement and to say how we can
accomplish these things.
Finally, The Bahamas must remain vigilant and must continue to mount a
sustained and united effort to meet the ever changing threats and methods of money
launders and financiers of terrorism. A National Strategy on the Prevention of
Money Laundering & Financing of Terrorism asserts the Bahamas’ commitment to
protect our financial systems from these money launders and financiers of
terrorism, thereby maintaining our reputation as a mature financial Center in the
international financial market and preserving the significant strides accomplished
in this industry.
This National Strategy on the Prevention of Money Laundering and
Financing of Terrorism will be yet another step for The Bahamas to protect itself
from the adverse effect of being involved, in money laundering and the financing of
terrorism.
In closing let me remind you of an old and timeless saying which says
“prevention” is always better than “cure”. In regard to The Bahamas’ Money
Laundering and the Financing of Terrorism approach “It is always best to be
“proactive” than “reactive.”
I thank you for your kind attention.

From Investment Clubs, 2008/07/15 at 8:46 PM

1. Wan Spec Says:
   April 13, 2008 at 11:30 pm
2. Report: Wachovia to get billions in new capital
   Announcement may come Monday, deal similar to Washington Mutual’s
3. NEW YORK – Wachovia Corp. on Sunday was hammering out the final terms of a deal that would provide a capital infusion of several billion dollars from outside investors, The Wall Street Journal reported.
4. The deal could be announced as soon as Monday, the Journal reported, citing people familiar with the matter whom it did not name.
5. Wachovia, the fifth-largest U.S. bank by market capitalization, would receive $6 billion to $7 billion, the Journal said. In return, the investor group would get shares priced at roughly $23 to $24 apiece — about a 15 percent discount to Wachovia’s closing share price Friday of $27.81. The shares have plummeted 48 percent in the past year.
6. According to people familiar with the situation, Wachovia’s deal is similar in structure to the $7 billion in new capital Washington Mutual Inc. obtained last week from an investment group led by private equity group TPG.
7. Officials at Wachovia could not immediately be reached for comment. However, the Charlotte, N.C.-based bank released a statement late Sunday saying it would release its first-quarter financial results Monday morning. The company previously had been expected to announce the results this Friday.
8. The trouble at Wachovia stems largely from its 2006 acquisition of California-based mortgage lender Golden West Financial Corp. for about $24 billion. Golden West’s loans were concentrated in California, one the hardest-hit housing markets in the U.S.
9. In last year’s fourth quarter, Wachovia’s net income plunged 98 percent due to a $1.7 billion write-down of some holdings — primarily assets backed by subprime mortgages — and $1.5 billion set aside to cover bad loans.
10. © 2008 The Associated Press. All rights reserved.
11. Livin N Babylon Says:
    April 14, 2008 at 8:58 am Hello, it’s been a few days and I’m out again until tonight. I just had to pop in and try to quickly scan before a bunch of post are dropped and I’m lost again. I had a weekend hiking in the woods with my son – it was a great time.Clearly patience is the key, but something I mentioned a long time ago that I believe would be a good proactive effort. Let’s figure out what department at Wachovia handles DD for the Caribbean, start posting some names and numbers and let’s call and keep calling until someone provides us with a yes or no. Once the calls start flying and we know Wachovia is annoyed, then we call Olint and start asking them, which department at Wachovia we should call.It seems to me that if about 10 of us didn’t mind some high phone bills that we could get an answer. The answer I’m looking for is yes we are conducting a due diligence investigation – cool I’ll wait till’ whenever – it’s legitimate.

    Stressed Now Blessed – I caught your Avatar and I’m going to have to find the directions again to do that, but I need to run. Oh, I did catch someone asking me about F1, yes I would recommend them as a strong outfit. Olint helped them get started, but they were never the focus.

12. Investment Man Says:
    April 14, 2008 at 9:53 am Hi Patricia, DR, RichKid,ForexGuy,Do you guys know anything about Keen Exchange, got an invite to go in, but want to get some feedback. Let me know.Thanks in advance….
13. Oneil Says:
    April 14, 2008 at 11:03 am Olint people as u can see wachovia is in troublehttp://www.forbes.com/markets/2008/04/14/wachovia-bank-dividend-markets-equity-cx_ra_0414markets09.html
14. Enlightened Says:
    April 14, 2008 at 12:18 pm Some analyst are getting prepared to stick a fork in Wachovia because they think its done…No doubt that this latest news will cause a further run on the bank and create even more problem for the us financial sector…This news of course does rest well for Olint because it stands to reason that if there were liquidity problems before there will be worst ones now… im of course alluding to dates extending beyond June.

    As for WW the run was expected as persons who have had i long standing request in excess of 4-6 weeks have been taking all weekend that apparently the route to take to get back funds is to cry and call CVM and if the girl can get hers why cant they.

15. Patricia Says:
    April 14, 2008 at 12:41 pm Investor Man, I dont know anything about Keen.On another note, this C+ saga will be heading into some interesting chapters.I read arguments elsewhere about refunds where the scheme has been found to be a ponzi. More specifically people who gained, being made to pay into a pool administered by a Receiver, the sums they received over and above their initial principal. In fact, there is legal precedent for it in other British Commonwealth countries, and also in states within the US.

    Well the list of “lenders”, and more importantly, certain names, and entities who were lenders, may read like a Who’s Who in Jamaican business, politics and churches.

    Many people have boasted that they knew that C+, and others clubs, were not legit but they joined anyway. They were members of inner circles who knew when to get in and when to get out. I gather they are called the “smart money people”

    Some people are also quite rightly questioning, the role of the FSC in the C+ matter. Did they act sufficiently or did they act too late. Did they for 3-4 years ignore their statutory powers, and turned a blind eye to what was unfolding. Then when it was too late, ie after the smart money left, they started the all out campaign of warning the public.

    What about NCB’s role. People have said that the C+ accounts were courted. Those accounts were operated for years. And we all know how NCB’s fees go. That’s a large part of their profit stream. Then when when the right time came, the bank made a great big huff and puff, to distance themselves from the ponzi operations. How did they know it was the right time. Was it after the failure of entity to deliver audited financials, or was it after the news broke officially and the Real Carlos Stood Up, or was it actually after their legal, auditing and accounting advice revealed in dollars and cents, fines and penalties, the real worth of their (potential) exposure.

    Did NCB in anyway gain from all those C+ accounts?Should the forensic auditing trail go into the bank records? It would seem only fair says some.

    What about the properties that were being purchased? Remember CH stood before God and man, making his declarations about what was paid for. Now, were those transactions simply part of a more sinsiter plan, a way to deftly move the money away..launder it, perhaps? Again these are the issues being discussed.

    Quite frankly, there is much investigation and indepth research to be done. Is there, however, the will to get it done?. Will this saga unfold like so many other tragic stories in the Soap Opera, Jamaica Land We Love?

    There will be investiagtions, reports, meetings a few show piece suits and them BLAM!, the book done!..no author’s note, no preview of books to come. Hhhhhmmmm

    BTW, how many remember me asking, back in 07, how will Carlos be remembered. This was when the story of his past was revealed, and I said he might be the true Jamaican Gangster.

    Script writers, anyone?

16. dave Says:
    April 14, 2008 at 1:47 pm Capital Blu is the real deal. I have account in my own name at one of their FCM’s and i have been getting paid ever since( i see all the trades too!!!). No hassles. At times like this we need to educate ourselves on what Capital Blu has to offer. There are so many options that Capital Blu has to offer. I read the whole blog and it has been based on rumors. I think capital blu is here to help. Plus they do what they say. I asked them about why are they taking money when they said they wouldn’t and i totally understand why. They are not taking money in their fund in jamaica because they are not reg. So that is why people can open up an account in their own name at a FCM, which is done all over the world. so why not here in jamaica.
17. JK Says:
    April 14, 2008 at 1:56 pm i am currently on the phone with a rep from worldwise an the closure of the rbtt account is a rumor
18. RedP Says:
    April 14, 2008 at 1:58 pm #1033
    Dave, what are the average monthly percentage gains given by Blu?
19. JK Says:
    April 14, 2008 at 2:06 pm http://i49.photobucket.com/albums/f278/elefly/RBTT_issue.jpgcheck out this
20. dave Says:
    April 14, 2008 at 2:32 pm Well they have a lot of products FX Navigator (which has high returns and high risk) , FX Commander (which has medium returns with medium risk), and the CBM FX FUND (low risk) and now the FOX that has just been launched. FX Commander gave 9.90 in FEB and 9.68 in MARCH. The CBM FX FUND in the big one that operates like Olint. Everything else is in the persons individual name. So each account is traded on its own by a why of a system they developed that is awesome. CBM FX FUND averages about 6. They are a really big outfit. I would recommend everyone to call them just to hear them out. It is very interesting it is something Im not use to but glad my eyes are open to it. And I’ve been with OLINT for 3 years…… but how good is 16% if i cant get it. I will always be loyal to DS but the lifestyle that i live now that he helped me to achieve i cant not afford to live if i cant get my money so i looked in to CBM. Why not diversify.
21. dave Says:
    April 14, 2008 at 2:40 pm plus i just feel more comfortable sending my money offshore to where i know my money is with a company that is reg. where they operate and the NFA is really really strict.
22. RedP Says:
    April 14, 2008 at 2:45 pm All you savvy investors on this blog, what is your valued opinion/assessment of Capitol Blu??
23. PEI Says:
    April 14, 2008 at 3:01 pm RedP I am not in CBlu but I check them out and so on. I never go with them since My problem is how the CBlu yute did bad mouth DS. I never like that at all but me understand in this busness world every shark need fish.RedP you can check it out too they registered and just a plane ride away.Me respect what poster Dave said him give DS props but still was fair and say the money no use if he cant get it. These are the things we need to see. We happy to make the money but we also need to get the money. Poster Dave never say it in a fight down way so respects to him for that. We need to stop the fight down and the throw words things because of problems now. We need to stay true learn what out there and stop spread rumor.
24. Opportunity Says:
    April 14, 2008 at 3:03 pm I am totally against speculation but I thought I should share this as I think this is more than simple speculation. Some time last year not long after O lost its court case and NCB closed its accounts, a certain high ranking GM at NCB said to a close friend that they are going after Olint next (there was a post to that effect on the old wealthmax blog as well). At the time, that statement didn’t make sense as NCB had already ‘won’ by closing their accounts etc. But it would now appear that with Wachovia’s close relationship to NCB, and what we have been seeing for the past few months this is clearly what that statement meant. MLC is no fool and he didn’t make his billions staying on the straight and narrow path (certainly for a black chiney in a lilly white man country then).
25. RedP Says:
    April 14, 2008 at 3:08 pm Thanks PEI.
26. Wan Spec Says:
    April 14, 2008 at 3:18 pm Reality Check # 1032 – Everything that is being said now about Olint , was being said 3 or 4 or 6 months ago about Higgins Warner, Swiss Cash or Cash Plus.The people who are saying hold the faith really believe that. Probably because the prospect of an Olint failure would be too hard for them to imagine, so they dare not think anything else.There was reason to hope for Swiss Cash, Higgins Warner and Cash Plus right up until when they failed. To this day, right here on this blog some people are still holding out hope for Higgins Warner.

    I used to believe in Olint unreservedly, now I am not so sure any more.

27. JK Says:
    April 14, 2008 at 3:27 pm well one thing for sure when it comes to olint….they have a turbulent past an came thru it……HW came here conned ppl and left…….C+ boss conned ppl and was deported to ja…..olint survived not being able to accept new members out right…and a run on them in the past……hence there is a bit of a good track record there
28. Wan Spec Says:
    April 14, 2008 at 3:49 pm JK # 1046 – You said “olint survived not being able to accept new members out right” I used to argue that very same point, but it was not true. I came across this web site where anyone could go to and open an account with Olint. I kept hearing about all these back doors into Olint which I used to discount as typical Jamaican rumormongering, I now find out that most of them were true. (read the archived blogs)You said “…and a run on them in the past” We don’t really know that now, do we? How do we really know that 70 or 80 % (The figure keeps changing) was really withdrawn? It was a nice story which makes us feel better, but have you ever seen a shred of evidence to support this? How do you know it wasn’t 5, 10 or 20% withdrawn?That’s the problem with a lack of transparency, you don’t even know what you don’t know.
29. Wan Spec Says:
    April 14, 2008 at 3:59 pm RedP – I am not preaching doom and gloom. I am only pointing out that even Olint’s supporters have nothing other than faith or hope to hold on to.Faith is good when people are getting paid. When people are not getting paid, then the same blind unquestioned faith borders on lunacy. That kind of faith should only be reserved for believing in God. David Smith might be Super Dave, but he is not God.
30. JK Says:
    April 14, 2008 at 4:00 pm as i always say time will only tell
31. JK Says:
    April 14, 2008 at 4:02 pm one thing i would love to know…….why is it that TCI ppl praising him an we bashing him……..he obviously doing something good for them…..i doubt they would register him over there if he wasnt doin something right
32. Wan Spec Says:
    April 14, 2008 at 4:06 pm Look at the requirements for registration in TCI. Do they reassure you?
33. dave Says:
    April 14, 2008 at 4:10 pm I was wondering where Donovan Davis Jr. of Capital Blu bad mouthed DS and/or Olint. Because i saved the articles that was published on CBM and/or Donovan and the only thing i saw when he mentioned DS/ Olint was that DS was a “hell of a trader” plus i watch the CVM thing on TV and i don’t recall anything bad said. But if donovan said anything bad would mean he would be two faced because it was published about what he said about david being one “Hell of a trader”. if anyone could maybe post a clipping published on him saying something bad would help because the rumor thing bares no relevance. And if the kid really bad mouthed the guy who he first heard about trading FX from, He’s not credible either. What is it with FX Traders? Its always something. I thought I was on to something maybe i still am . Please let me know………
34. DR Says:
    April 14, 2008 at 4:48 pm Opportunity, # 1043As Far as I know NCB has NOT YET closed “O” accounts….they are still in court…I think the final decision will come in June 2008.***********************************************************
    Ppl, whether an organisation is regulated or not…a MAJOR RUN will wreck it…. even the great NCB or BNS would crash if we all went in asking for JA$500 million….they would not have it to pay ONE DAY, ONE TIME…They would need some notice…..

    So at this rate, investors might really be put pressure on WW and O, and even MD by constantly withdrawing….. Think & Check.

35. Stress now Blessed Says:
    April 14, 2008 at 6:01 pm MI READ DI BLOG AND MI TIAD!I’m going give my 2cents anyway…CINDY: Thanks for keeping your posts to a minimum.

    O Members,
    It is now very apparent that WE (O club members) are unsure of O’s future.
    • Olint offers an explanation of a Due Diligence process in progress
    • Olint has changed its expectant payout dates several times
    • C+ demise promotes despair and anxiety for many O members

    While many of us are keeping HOPE ALIVE that all will be well, it is still ok to question inconsistencies and authenticity by taking some appropriate action in a bid to get answers DIRECTLY from Olint / DS.

    Let us STOP feeding this ever building anxiety with constant speculation. WASTE no more time on things we CANNOT change, but take courage and do the things we CAN!

    Let us take the power away from the likes of “Cindy”, “FR” and others.

    Take a few minutes to email dsmith@overseaslocket.com, or send a mail to the office in New Kingston stating our DISSATISFACTION in the service we receive by outlining the following:
    • Olint’s LACK of frequent and transparent communication with members
    • Olint’s OBVIOUS disregard for members
    • Heightened ANXIETY due to the continued failure of clubs (C+, HW, Mini, RH etc).
    • DEMAND reasonable timeframe for resumption of normalcy in encashment payouts.

    Let us together take control of our situation.
    Let us together fight for the answers we need to make independent and intelligent decisions to renew our confidence or discontinue relations with our club O.
    Don’t allow those who have nothing to gain or lose, enroll us in CAMP SPECULATION and discharge us later to the care of CAMP DEPRESSION, because if we do – THEY WIN!

    UNITED WE STAND – DIVIDED WE FALL!

    SnB.

36. Question Says:
    April 14, 2008 at 6:29 pm Yeah right.The truth is no matter what the detractors say, if Olint is being a victim of DD then it will pass and you will get paid. The detractors can’t box the food outa oonu mouth no matter how bad mind they are.If Olint is a ponzi (which I only partially belive)then you lot will get burned and detractors like me will be here looking on in wondering how delusional you all could be.

    At the end of the day, we shall all see and remember money talks while bulls$$1t walks.

37. Mercury Vapor Says:
    April 14, 2008 at 6:51 pm Mr. Texas said:“I personally talked to a senior trader in one of the largest FX trading firms in the US and he personally verified DS as a legitimate trader but had also confirmed that DS and LewFam had corporate accounts with their firm. They have accounts with several top trading houses.”Thank you for your post Mr. Texas. Would it be possible for you to give us the name of the FX trading firm? Or provide any information that I and other bloggers could do some research into?
38. Stress now Blessed Says:
    April 14, 2008 at 7:11 pm I’m thinking now that dsmith@overseaslocket.com might generate an automatic response. Does anyone have another email address that we could explode with our emails damanding answers?Let us continue to ignore “QuestionABLE” Characters.SnB
    Peace
39. Geotrdr Says:
    April 14, 2008 at 7:53 pm @1065lol…Ya Mr. Texas. How about the man number too. That would be great.
40. Jim Says:
    April 14, 2008 at 8:32 pm Hi. Just came across this site. Its real helpful. I have account with Capital Blu. Its held thru
41. Jim Says:
    April 14, 2008 at 8:42 pm and ive been getting really nice returns. But im a bit concern with some of the negative comment on CAPITAL BLU and Donovan Davis on this site. Ive neever met him but did some research on the company and its all come back good. I cant really lose any money because my money is on hold at olint along with everyone else. Is there sometime i dont know about the company? And does DS or Donovan Davis log on to this site and if so what are their names? I would like to ask them some questions. Capital Blu offers alert services for trades. I checked it out its pretty cool http://www.profxalerts.com. I heard that some of the trading companies uses profxalerts to do some of thier trading. I dont know how good the source is. But i heard it when i attended the MTI training course, someone in the class said that he has a friend from world wise that uses profxalerts.
42. Jim Says:
    April 14, 2008 at 8:57 pm i have close to 500k with olint. And ill be honest i dont beleive the Wachovia nonsense at all. David is problay the smallest account there and no one else who trades there is getting an investegation. I dont think Olint is the only client there. And if the Wachovia thing is true and i was david i wouldnt publish and 20% return. If they are investigating the account why is he still taking deposits? should’nt there be no activity? And if it is true shouldnt he be camping out at the Corp. office of Wachovia and not trading and giving returns that he cant pay. Ive been in olint for a long time and im fortunate to be playing with the “house’s” money since ive already got my initial deposit back……but ill be honest i had plans for that money!!!! The reason why i think my 500k is gone is because history in jamaica fx trading shows that when things get to this stage with a company they dont recover or not in any time soon.
43. Wan Spec Says:
    April 14, 2008 at 9:05 pm LOL…seems like Capital Blu found this site and is trying to drum up business. Isn’t this the 3rd one today?
44. Jim Says:
    April 14, 2008 at 9:07 pm Hey Mr. Texas thats bull$shit. I called every FCM on the planet to ask about OLINT, DAVID SMITH, OVERSEASLOCKETINTERNATIONAL….. and because of privacy and fiduciary acts it prevents them from disclosing any information about amounts, names and account numbers etc. Nice try though….you probaly work for David. You think we’re stupid and wouldnt call the FCM’s come on. Ive seen 5 million dollar hedge funds get talked about on BLOOMBERG but the billion dollars that david has doesnt get publicity.
45. RedP Says:
    April 14, 2008 at 9:09 pm #1068
    SNB, I don’t believe that the dsmith e-mail address is checked / current / paid attention to. I e-mailed them early last week to find out if I could get membership for an Offshore corporate entity that I want to set up out of Panama.
    To date I have not heard peep from them.PS I still want to be spiritual leader!! Love and Peace
    RedP
46. Jim Says:
    April 14, 2008 at 9:12 pm are they liscensed in panama? if so i’m interested!!!!!!!
47. RedP Says:
    April 14, 2008 at 9:14 pm Hey Drivah !! Is C/Blu paying you commission/advertising fees!! Doan stap atall!!
48. Mercury Vapor Says:
    April 14, 2008 at 9:30 pm Re: Post 1076Jim, easy…take it easy partner. Mr. Texas said he spoke to a senior trader at an FX trading firm about DS. That to me sounds like he knows the trader personally, that is, they are friends. Let’s not attack people, and just keep cool.Mr. Texas, it would be nice though if we could verify…in some way…the things you said. I’ll give you the benefit of the doubt, but it would be nice to have some solid facts to go on…at this point, the blog really needs some.
49. Wan Spec Says:
    April 14, 2008 at 9:41 pm Investors in the alternative investment scheme, OLINT, will know this Friday if the company has succeeded in staving off the National Commercial Bank’s (NCB) attempt to close its accounts.High Court Judge Roy Jones is to rule whether the injunction blocking NCB from closing OLINT’s accounts will be lifted.Mr. Justice Jones was scheduled to make the ruling Monday, but the judgement was pushed back to Friday.

    OLINT and its investors are anxiously awaiting the ruling.

    Thousands of OLINT investors rely heavily on these accounts remaining open in order to collect returns on their investments.

    The closure of NCB accounts would be devastating to OLINT.

    Last month Mr. Justice Jones reserved judgement after hearing submissions from lawyers for OLINT and NCB.

    OLINT wants the injunction to remain in place until the lawsuit filed against NCB is heard.

    But NCB wants the injunction lifted.

    The bank argues that OLINT is unregulated and has consistently failed to submit its audited financial statements as required by law.

    For its part OLINT said NCB is in breach of the Fair Competition Act as it sees the investment firm as a competitor

50. Wan Spec Says:
    April 14, 2008 at 9:43 pm Chief Executive Officer of the Cash Plus Group Carlos Hill is to be charged on Tuesday with fraud following the collapse of his multi-billion dollar company.The charges come four days after he was taken into custody.Mr. Hill’s brother Bertram Hill and Cash Plus Chief Financial Officer Peter Wilson are also expected to be charged.

    Defence attorney Hugh Thompson told the RJR News Centre that the charges will be laid Tuesday morning and the men will then be taken to court.

    Mr. Hill, his brother Bertram Hill and Cash Plus Chief Financial Officer Peter Wilson were questioned for more than three hours on Monday morning by investigators probing fraud at Cash Plus.

    The three were taken into custody last week in what the police say was an investigation into reports from Cash Plus investors that they have been defrauded.

    ##################

    Man the case must be strong. They are going to charge him after just one day of questioning.

51. Fancy D Says:
    April 14, 2008 at 10:28 pm Hi Guys….can anyone shed some light on this for me??? IS WORLDWISE in trouble also?? I have been bombarded with calls from relatives in Jamaica all weekend to take my money out because they are also going after WW….Is that so??
52. Mercury Vapor Says:
    April 14, 2008 at 11:06 pm I’ve been thinking about Capital Blu Management…I see a number of people on this blog don’t like them. Personally, I’m not crazy about the company (or the head, DD Jr.) but I like the “model” that they are following. When clients invest with them, this is how it works:1. You open an account at a recognized forex broker, the account is in your name.2. You give them a Limited Power of Attorney (LPOA), this gives Capital Blu the right to trade your account.

    3. Because of the LPOA, they cannot add, withdraw, or transfer money out of the account. Only you, the account holder, can do that.

    4. At any time you can log into your account at the forex broker and see the open trades, as well as the profit or loss.

    5. Capital Blu takes a percentage of the profits, that’s how they get paid. I think it is 20% of the new profit, and it is charged each month.

    So this is the “model” that Capital Blu is following, and I like it. If they do not trade well and you’re unhappy with the results, you can revoke the LPOA at any time. Plus, since your funds are at a forex broker, you can get it anytime you want.

    This “model” is how most of the managed forex accounts in the United States are. I think it’s a step-up from what we have to deal with in Jamaica. In Jamaica, you have to put your money in a forex trading club. With MD, O, WW, etc. you give them your money, they trade with it, and then pay you gains each month. However, you cannot see the trades that they make, you cannot see their real profit or losses for each month, or how much fees they are charging you for their service. How much do the traders at “O” or “MD” make? No one knows, because their fee structure is not revealed to their members.

    Also, investing in a forex managed account like this is a way to avoid ponzi schemes…which, unfortuneatly, some of the alternative investment clubs in Jamaica have turned out to be.

53. Stress now Blessed Says:
    April 14, 2008 at 11:13 pm RedP #1077I kinda “know” they will not respond to all the emails, but I was thiniking along the lines that if we ALL sent emails demanding answers rather than soliciting to become members, they would take notice and take action.
    Kinda Hammering them in the face kinda thing.Just a thought.

    On the other note, I was seriously thinking about your interest as “Spiritual Leader”, but when mi si your proposed spirit – Mi dont tink dat spirit will lift us up, it more would fling wi dung.

    I might have to consider you for a DIFFERENT spirit leader.

54. Mercury Vapor Says:
    April 14, 2008 at 11:17 pm Hey, do not take my post at 1088 as an endorsement of Captial Blu. I don’t have any money invested with them, and I’m not sure I will in the future. I like their “model” though, so the next investment I make will probably be in a managed forex account like this.I’m trying to do research on managed forex accounts because I don’t want to put any more money in any of the forex trading clubs. There are just too many problems with them, and no transparency, which really bothers me. If I find some good managed forex accounts I promise to post them on the blog.
55. InForTheLongHaul Says:
    April 14, 2008 at 11:30 pm Mercury Vapour #1088. LOL. thanks for clarifying your position with follow up post #1090.
    Very good idea to look into managed forex accounts though I dont think I would go thru Capital Blu at this point as from what I can see they have only been established for a very short time and therefore have no track record for us to know how they operate. Might be jumping from frying pan into fire.
56. Mercury Vapor Says:
    April 14, 2008 at 11:45 pm InForTheLongHaul, very true my friend. I think I saw a report somewhere of Capital Blu’s performance, but it was only for one year. Before I invest in any forex managed account, I would want to see at least two years of good performance.Also, if I made any errors in my post, No. 1088…anyone…please indicate, so I and other bloggers will know.
57. Livin n Babylon Says:
    April 14, 2008 at 11:48 pm Fed Up Now MoneyO – Was that a Compass card “load” or a wire? I ask because the only money that I have seen from Olint since early January was on my Compass card – no wires.
    ——————-
    Sorry, guys I’m still playing catch up!
58. Stress now Blessed Says:
    April 14, 2008 at 11:55 pm LnB
    FedUp got her daisies from MD not Olint.
59. Mr Texas Says:
    April 15, 2008 at 12:04 am I will not reveal the the ways or means of the converstaion, but as I was investigating setting up a mnaged account several months ago before deciding to set up my own Hedge Fund, the senior trader of a very large FX Trading firm verified DS and Lewfam having accounts with them through apassing conversation. This is what caused me to intailly invest with Lewfam. I have no other reason for revealing this information other than trying to bring peace to you all that are very shaken. I will not conceal any other information, nor will I respond any further. For the record, I do not even hold an “O” account, only with Lew Fam. Lew Fam is still dispursing funds.Although, I do believe that both DS and Lew fam are liget, they are having very real situations with the banks. I do feel however that all you folks will be taken care of, but all this fear is only going to make things worse.Consider this, Lew Fam is tied completely to “O”, so why are they still dispursing funds. If O is going down, then why would Lew Fam still be dispensing funds.

    This will be my last post.

60. Livin n Babylon Says:
    April 15, 2008 at 12:17 am Has anyone received a wire from Olint since early January?
    —————–
    Jim, I’m in a similar boat. I am having a hard time believing this story, but here’s one that I could speculate on as a possibility.DS is trading along, thinking everything is fine. The staff is moving cash around in a loose manner, because cash is all over the place – no proper controls and no audits to spot anything in a timely manner. David has a number of withdrawals while new funds continue to dry up. He stops to take in the situation and realizes that he has a few million less than he believed (sloppy accounting, friendly “deposits”, embezzlement, etc.). He determines that if 3 to 4 months he can make it back, but people can’t pull their funds or he won’t be able to trade. Optimistically he had hoped to be in the clear by the end of April, now more realistically he’s seeing end of May.We can only hope this is the case – a guy buying time to dig himself out of a hole. Wouldn’t that be nice? And if this hopeful speculation is true (and David since you’re listening) fix this mess once we’re all on the other side!
    PLEASE! I say this because I can’t think of a graceful way in which he could disclose this kind of in-house mess without making matters worse, even though this is actually what we would all like to hear: a real story.

    Now we have this absurd e-mail about business hours changing, but crafted in such a way to make it sound as though something significant is happening when in fact they’re just cutting back. Even here who can blame them. The staff is doing nothing but hearing stories and woes from us with questions and concerns that they can’t answer. WAYNE – TALK TO US!

61. Livin n Babylon Says:
    April 15, 2008 at 12:24 am Mr Texas – Don’t go, I’m just getting caught up! Do you know Cynthia at LewFam? The last time I spoke with her, they were still working on the managed account side with GAIN Capital. She told me that she would call back when things had changed, but no word as of yet.That is interesting about LewFam keeping up with encashments since most of their trading is through David. Also, I was curious about your hedge fund. We have gone around and around on this, but have finally settled jurisdiction(s) and I have a great portfolio of traders – let’s talk armourytrust@gmail.com.
62. DH Says:
    April 15, 2008 at 2:50 am post 1096
    Sounds Plausible because they are many persons that have made withdrawals and the accounts aren’t updated and still getting gains on that withdrawn funds. And can even withdraw a second time. Therefore they may have realize that money a paper(more) not matching money in brokers account(less)
63. concerned 2 Says:
    April 15, 2008 at 6:11 am Any intrest posted to MD accounts yet?My account is temporary deactivated because they didnt get one of the documents they required.
    I was told by today intrests payments should be updated.
64. Ronnie Says:
    April 15, 2008 at 6:17 am 1096 & 1098, LnB, DHA bigger problem is this: Suppose DH had 10 friends in his forex club, DHC. Each person has $100 with DHC. Each day DHC does some trading. Day 10 DHC porfolio is up 5 %. The value of each clients account is $105. Day 20 DHC portfolio is down 5 %. The value of each clients portfolio is now $95.How come everyone can call up DHC at any time and request to redeem their principal and always get back $100. If their is panic and a run on DHC and 7 clients call up to redeem during a down time, Day 20, the portfolio is only worth $950. DHC gives them $700 leaving only $250. The remaining 3 people now each have $83.33. They have not lost 5 % but now they have lost 16.67 %.

    Notice how my analysis did not even factor and deduct the fees paid to DH. Or expenses like employee salaries and so on. Can you see why the account has to be valued each day so that people get the value of their account on the day they redeem? Unless you are running a ponzi if people don’t get the actual value of their account on the day they redeem, especially in panic and rush time the club will die. If it is a ponzi it will die too.

    If valuation is being done daily and accounts redeemed for actual amounts and proper accounting and auditing is being done, no matter how many redemptions a FX club will continue albeit with fewer clients. Most forget that the major reason for external auditing is not because the FSC wants it but is to ensure no one is stealing the money or it is being given away.

65. RedP Says:
    April 15, 2008 at 6:46 am #1089
    Dearest SNB, Fret not thyself,I am not that much of an imbiber. I love the Lord and take my walk with Him seriously. That is why amidst all this uncertainty with DS, His peace surrounds me and I fret not,no matter what card draws.Love and Peace,
    RedP
66. Futures_trader Says:
    April 15, 2008 at 7:17 am ronnie#1100Thats one of the best post I have seen here.My only problem with what you are suggesting is that I thought that only a small percentage of capital is being traded at any one time because of the supposed leverage.

    I cannot see how DS can give constant profits month after month and still be able to give back full principal and do not have any draw downs. This is the reason I question if O is legit or not.

    Maybe someone that is invested with O can shed some light on how much of an investor’s capital is being traded at anyone time and how much is protected. And if their is a contract that state such.

    If O is a legit organisation, I think internal controls may be what has brought them to their knees.

    One last thing, As the fund manager I cannot understand why DS and his management team would allow anyone to pull any large sum at once that could damage operations and have a negative effect on other investors.

    The only way you allow this to happen is if you dont have proper internal controls and have no idea what is going on with the accounts.

67. RedP Says:
    April 15, 2008 at 7:35 am #1102
    Futures trader, with O’s ‘A’ account 20% is traded, 80% protected, ‘B’ account 50% of funds at risk.
    However I would have to check back to see if it is so stated on the contract.
    RedP
68. Wan Spec Says:
    April 15, 2008 at 7:38 am LnB – # 1097. In spite of the ominous signs, I still find it hard to believe that Olint is / was a ponzi, and while I don’t completely swallow the due diligence business, I think yours or a scenario similar to yours is the most likely. I am aware that the reason I believe that maybe because I am in denial.I will keep the faith, diminishing daily until one of two things happen. I call down there and no on answers the phones, or come June and people are still not getting paid, then I will truly accept that its over.BTW, does anyone have any explanation why Cash Plus kept answering their phones right up until the implosion? Why wouldn’t they conserve cash and maximize their booty and cease operations. They must have known that the end was near.
69. danews Says:
    April 15, 2008 at 10:08 am we are goint to speculate till June…what are our options ?. we can bombard them with questions … but NO ANSWER WILL SUFFICE WHEN WE ARE NOT GETTING OUR MONEY..we continue to kid ourself that if we get a reasonable explanation, then we will easy… thats BS..

    the simple fact is ‘any answer is good enough when we are getting money.. HW with football competition and Carlos Hill with selling phone cards, those were all bull, but we were getting money,

    conversely, NO answer, no matter how reasonable will suffice when we are not getting any money and have bills to pay.

    right now, everyone should really ask them self if they have the risk appetite for HYIP, because with the huge profits, there is also the huge losses…

    truth be told, most people here are better off in the security of a commercial bank and 10 % per year

70. Tanya lee Says:
    April 15, 2008 at 11:07 am I heard yesterday that wachovia lost over 1/2 billion $ over tha last quarter. They are currently trying to raise money by end of april/late may.This sounds consistent with what DS have been saying or not?
71. Geotrdr Says:
    April 15, 2008 at 11:19 am A lot of sheep in here will be suprized to find out who is really behind Cap Blu. Then they will connect the dots. Some people in here may already know but i doubt it.Cap Blu going to try and move hard on the caribbean. The capital has been pulled to do it. Right Cap Blu guys. I know you in here. Come on out and play nuh. You ditch donovan yet? Is he in the naughty corner? How come the web page don’t have the management team on it? And how you really go do that to you friend? Tisk tisk tisk.
72. Wan Spec Says:
    April 15, 2008 at 11:21 am Tanya Lee – 1107. Profit and Loss at a bank has no direct bearing on the ability of a bank to service withdrawals. Even when a bank has bona fide liquidity problems, it has the ability to quickly get funds from a number of sources such as the inter-bank system, where banks can borrow from other banks at very low rates or the discount window at the US Federal Reserve. Avoiding disruptions which result from temporary liquidity issues at US commercial banks is one of the main functions of the US Federal Reserve System, and it does that rather well.Additionally, that is NOT what we are being told by Olint. We are being told that they are conducting due diligence, which by itself has nothing to with liquidity at the bank. Those two issues should properly be separate.
73. Wan Spec Says:
    April 15, 2008 at 11:23 am Here is one man who can get answers from Olint. I guarantee you they will take his call. Mark Wignal from the Observer newspaper.Here is his email address; observemark@gmail.comSend him an email.
74. Tanya lee Says:
    April 15, 2008 at 11:24 am lewfam paid up to march 15 2008 on time ane even early than 2 weeks notice. now they are saying requests will take april 21 or up to 4 weeks. they cannot say definitively since they waiting on the broker.Any body else notice this.
75. Tanya lee Says:
    April 15, 2008 at 11:35 am does anyone has a list of the frequently asked questions from olint. this was there last communication
76. Enlightened Says:
    April 15, 2008 at 11:38 am The latest according to the current press conference:Cashplus has 80 companies
    Carlos hill has 106 companiesCountries: London,Kuwait,Germany,holland,Turks and Cacaois

    The T&C trust Galeina Trust Company Has had Billions Of USD passing through it.

    Questioning revealed that for some time now the director have been aware that cash plus is a “pyramid Scheme”

    The directors are expected to be charged for Fraudulent conversion, Moneylaundering among other on Thursday.

    My question is where is Khalil Harris (cashplus president) and Christopher Goldbourne (cashplus Senior Vice President)?

77. Enlightened Says:
    April 15, 2008 at 11:43 am Nb… and this is important…Les Green (assistant commissioner) indicated that the police have been receiving other reports of other alternative investment clubs and are currently investigation the reports and will be taking action.
78. dave Says:
    April 15, 2008 at 11:51 am What do you mean “did you guys ditch donovan yet?” doesn’t he own the company with his partners?
79. wardog Says:
    April 15, 2008 at 11:58 am who are the top people behind CAP.BLU?
80. Roli Says:
    April 15, 2008 at 12:00 pm I think the other one is Higgin Warner
81. dave Says:
    April 15, 2008 at 12:04 pm I think the top people/owners at Cap. Blu are Donovan Davis Jr., Blayne Davis, And Damien Bromfield. I read that in the observer.
82. cookie Says:
    April 15, 2008 at 12:05 pm enlightened stop using your employer internet to send blogs. Your students need there papers marked…..lol
83. wardog Says:
    April 15, 2008 at 12:08 pm who are the top people behind cap.blu
84. Wan Spec Says:
    April 15, 2008 at 12:22 pm Five days after he was taken into custody, Head of Cash Plus Limited Carlos Hill has been charged by the police on Tuesday morning.This was announced at a press conference called by members of the Organised Crime Investigation Division who gave an update on the probe into activities involving Cash Plus.Charges were also laid against Mr. Hill’s brother, Bertram Hill and Cash Plus senior executive Peter Wilson.

    This follows three days of interrogation by senior investigators.

    Lead attorney for the men, Churchill Neita, told said the three are to appear at the Corporate Area Criminal Court on Thursday.

    Police say the details of the charges will be released on Tuesday afternoon.

    Mr. Hill, who was arrested at his Norbrook, St. Andrew home last Thursday was questioned Monday in relation to allegations that he defrauded investors.

85. Mercury Vapor Says:
    April 15, 2008 at 12:25 pm You know what would be funny, if we found out the real “big man” behind Cap Blu is MLC!He seems to want to monopolize everything in the Caribbean…supermarkets, cable, etc…now maybe even forex trading?
86. OneJam Says:
    April 15, 2008 at 12:29 pm I just hear the very last piece on Nationwide. ……… CH has $B in many counties and ppl may get back money if other country willing to help. Is this true. Pls only facts. Willing to listen to opinions once stated as such.n
87. Wan Spec Says:
    April 15, 2008 at 12:53 pm A friend of mine has a severe personal situation which she explained to a manager at Olint two weeks ago and was give a promise of a payment from an alternate account by today by the Olint manager. Of course the money has not arrived and when she called today, she was told that the instructions were sent but that there were no funds in the account, and she may not get even this payment until May or June.If you want to do something positive send Mark Wignal an email. He was an early booster of Olint and he should be able to get some answers from David or Wayne. Send him the questions you would ask David if you had an opportunity.His email address is observemark@gmail.com
88. concerned Says:
    April 15, 2008 at 12:56 pm 1 billion euros in a swiss account
    but guess what C+ is not the brainchild of CH but BH
    CH was just overseeing itmore to come
89. Mercury Vapor Says:
    April 15, 2008 at 1:11 pm Re: Post 1124Wan Spec said: “If you want to do something positive send Mark Wignal an email. He was an early booster of Olint and he should be able to get some answers from David or Wayne. Send him the questions you would ask David if you had an opportunity.”I don’t see the point in asking “O” any more questions. They have given us the reason for the delayed payments. It’s up to us to either believe it or not. Most people on this blog don’t believe the story “O” has given, but asking them, or asking Mr. Wignal to ask them won’t help…they will just say the same thing again.
90. Mercury Vapor Says:
    April 15, 2008 at 1:17 pm What about getting some information from the Financial Services Commission (FSC) in Turks and Caicos?Does anyone have any relatives or friends in the Turks and Caicos? Ask them to go to the FSC there and see if they can find out anything about “O.” If “O” is registered, shouldn’t the FSC have some useful information?Peace
91. unreal_investor Says:
    April 15, 2008 at 1:23 pm I just heard on Nationwide News that Carlos Hill have unconfirmed US$ 7 (seven) billion in various accounts over the world…
92. Patricia Says:
    April 15, 2008 at 1:55 pm Enlightened word out is that one such exclusive club is R.A’s ME…funny how after his meltdown even though members talking openly, and even ON AIR, about the losses no charges were ever laid…Geotradr@1108 LOL and LOL again..just watch it unfold
93. wardog Says:
    April 15, 2008 at 2:08 pm MLC made forbes mag of billionare with 1.6 billion how come CH is not on the list…
94. Wan Spec Says:
    April 15, 2008 at 2:15 pm Mecury Vapor, it depends on what they are asked. In one instance they just came out with what they wanted to say. If there were asked precise questions then you might be able to get more satisfying answers.
95. unreal_investor Says:
    April 15, 2008 at 2:16 pm NNN seh 7 billion USD and he had secured a loan for 1 billion USD from January… or something like that.. I guess he who laughs last…. laughs best…. I hope this is good news for C++ investors lol…
96. OneJam Says:
    April 15, 2008 at 2:19 pm ok heard some more on nationwide. part of the 7 Billion is in letters of credit and loans, bank guarantees and some cash.We need to see if these are genuine and not fraudulent. If docs fraudulent then his ass dark, if true then it may be a light at the end of the tunnel…… hopefully not a train.
97. Lots Ofmoney Says:
    April 15, 2008 at 2:45 pm Breaking news on Wachovia….post net loss of 350 mill in first quarter…..what kind of impact is this going to have on O???…..http://finance.sympatico.msn.ca/investing/news/breakingnews/article.aspx?cp-documentid=6774723
98. Futures_trader Says:
    April 15, 2008 at 2:53 pm I’ve been wondering what the risk tolerance is for the bloggers here. Lets suppose DS came out and say that the present fund is bankrupt and that there is no money to pay anyone, but that he want to start a new fund from scratch..Would you invest and under what conditions? this may be the question some people may need to ask themselves going forward.I am reminded of the big energy trader, Brian Hunter from amaranth, that loss 6 billion dollars on his energy trades.

    He then had no problems in getting billions of dollars to start another fund.

99. Wan Spec Says:
    April 15, 2008 at 3:09 pm Lots Ofmoney # 1137, that was already answered in 1109.
100. unreal_investor Says:
     April 15, 2008 at 3:10 pm Wachovia need to ask Mr. Hill for a loan… LOL..
101. Futures_trader Says:
     April 15, 2008 at 3:10 pm #1137 Lots of moneyAll these bank write downs should not have any affect on O. Most of these losses are from the bad paper these banks are holding from the subprime mess where people are walking away from their homes everyday.Olint is just using the bank for a service in their brokerage unit.

     As you realise that is two different units in the bank thats not related to each other. If you check the numbers closely you will see what I am talking about.

     If you checked out GE(general electric) last week they reported their numbers and a lot of their losses were from their financial unit. It took about 45 billion off of GE market cap and brought down The equity markets last week.

102. cookie Says:
     April 15, 2008 at 3:40 pm I just spoke to someone at lewfam about the delays for april. Payment should be made by 21st of april.I was curious as to way there have been paying ontime for the last three months and not olint. They explained that they have no affilation with olint except that they share the main trader david smith.thats why there has not been any delays for payments from lewfam. They are having a backlog now because olint had a higher than normal run on its account. This raised a red flag on olint account causing a restriction and investigation.So money is money transfer is being transfer from the bank at a slower rate. so between now and next 3 months the time delay may be about a month for lewfam.
103. dave Says:
     April 15, 2008 at 3:41 pm Don’t you need to be registered with the NFA and/or CFTC to even have an account with Wachovia to trade thru? The majority of the FCM’s in the US require them to be a CTA. I called a hand full of them. I wonder if the wachovia thing is true? If O had a billion dollars and someone posted that wachovia anounced a 350 mil draw. Wouldn’t the run on O be announced from an FCM that had to pay out?
104. Mercury Vapor Says:
     April 15, 2008 at 3:55 pm Dave, read Post 140 by Livin N Babylon.
105. Floridan Says:
     April 15, 2008 at 3:55 pm Here is the link to an article I found concerning DUE DILIGENCE by banks for anyone who cares to read ithttp://www.bis.org/publ/bcbs85.htm
106. PEI Says:
     April 15, 2008 at 4:02 pm yes we can all emails DS and mark Wignal but what about we also email the halmark bank. When me join otci I sign a contract with that bank. Maybe we should email them too the email is info@hbtl.tc there number is 649 946 5524. How I see it if we contact as many who have any connection we might start get some real answer.
107. timetomove Says:
     April 15, 2008 at 4:04 pm floridian no pun intended but that article has been around since 2001. Olint much younger than article. When the money did a come to wachovia there was no problem. Now it a go out its a problem.gready capitolist
108. Floridan Says:
     April 15, 2008 at 4:06 pm At the bottom of that page I suggested, there is a 1 page ATTACHMENT entitled,General Guide to Account Opening & Customer IdentificationThe Attachment is 1 page, but the full document I suggested in the link is 25 pages long… So for those who want to read all 25 pages go ahead… It is very good info… For those who want to read 1 page, read the Attachment document I suggested above.
109. timetomove Says:
     April 15, 2008 at 4:07 pm A did same thing happen to mi with did bank inna the us. When lodge mi check not a sound. But the other day mi try wire outa the country and is pure problem fio get it.
110. timetomove Says:
     April 15, 2008 at 4:17 pm But DS need to have some way to secure a line of credit to make payout because some small people need the money to survive.The rich guy them alright.
111. unreal_investor Says:
     April 15, 2008 at 4:30 pm Complex web of activities linked to Cash Plushttp://www.radiojamaica.com/content/view/7283/26/
112. Wan Spec Says:
     April 15, 2008 at 4:34 pm 1148 – Good idea PEI. But the contract we signed says that Hallmark has no say over how Olint is run. So I suspect there is not much leverage there. But calling might get someones attention.
113. timetomove Says:
     April 15, 2008 at 4:39 pm unreal 1153 If that is true then ch may be laundering money for someone else.eeeh wnadre whre the money trail will lead…lol
114. unreal_investor Says:
     April 15, 2008 at 4:43 pm Timetomove, if he is laundering money, then good question…
115. Stress now Blessed Says:
     April 15, 2008 at 4:53 pm AAAH BWAAAY!
     Mi jus a reflect pon something aloud!Mi caan bada go dig up ina archive yaH man…. but mi just a read between the lines of Unreal_Investor’s post at#1135
     “NNN seh 7 billion USD and he had secured a loan for 1 billion USD from January… or something like that.. ”

     OBTW – MI TALKING TO MI SELF OUT LOUD!

116. paul h Says:
     April 15, 2008 at 5:46 pm Enlightened#1114 and Patricia #1131 let’s be careful what we put out.ACP Les Green categorically stated that there are rumours out there of ongoing investigations into other schemes and that rumour has no truth to it .He went further to encourage complainants to notify the police if they had legitimate concerns and they would then investigate.I too was surprised as I thought investors in HW had already made an official complaint.
117. cookie Says:
     April 15, 2008 at 5:47 pm no one has explained why lewfam is paying but not olint…….
118. paul h Says:
     April 15, 2008 at 5:48 pm BTW that was on the NNN midday news
119. paul h Says:
     April 15, 2008 at 5:54 pm Lewfam originally took in funds and placed them with DS.For that there was a membership contribution of 20% of the monthly gains.Lewfam has several nfp christian organizations that they sponsor. It’s quite possible that because of their mission and very frugal lifestyle they might have shored up and are able to weather the storm along with possible fresh ongoing infusion of investments.
120. cookie Says:
     April 15, 2008 at 5:56 pm time to move…maybe noone knows anything. hopefully someone will read this blog and answer
121. Sharonette Says:
     April 15, 2008 at 5:59 pm CH…in deep deep shaving cream…….
     He has a lot of explaining to do….Hopefully the money will be found and investors will be paid….i dont have money with C+ but given the option of principal or nothing, i would take principal.
     Paul H…how that thing guh bout complaining bout other investment schemes?…..HW went running with my money and i sure would like someone to start trailing Max.
122. DR Says:
     April 15, 2008 at 6:01 pm The due diligence is over, both the internal and the external, where is my daisies? Today is April 15……what’s going on?I am getting a bit upset now…Still waiting for eight weeks for my daisies to bloom….this is frustrating….Well I guess the FSC was right afterall, Think & Check….. Some of us lost money in Minvest.. some in SwissC, some maybe in C+….there is life so there is hope….we can rise again….We shall Overcome.
123. cookie Says:
     April 15, 2008 at 6:01 pm paul h I understand what you are saying but how does the charity contribution have to do with anything.lewfam say people will get their money by april 21st , why not olint.
124. cookie Says:
     April 15, 2008 at 6:06 pm but thats for 3 months
125. cookie Says:
     April 15, 2008 at 6:10 pm but thats for 3 months, why not longer.They say they have not affilition with olint except with DS
126. Patricia Says:
     April 15, 2008 at 7:30 pm PaulH @1160 uh huh, yea, right.oh btwhttp://www.go-jamaica.com/news/read_article.php?id=1649
127. Livin n Babylon Says:
     April 15, 2008 at 8:14 pm Cookie,
     Unless I’m missing something here, LewFam is different in two ways. 1) They have there own traders in addition to David, and 2) Their account is their account, which David trades. LewFam got their start with David’s help, but they are their own club/entity with their own rules. In fact, the last time I spoke with them they were in the midst of trying to put together a “Managed Account” process for new applicants – particularly those of us here in Babylon.
128. Livin n Babylon Says:
     April 15, 2008 at 8:27 pm PEI #1148 – I hear ya, but I must say that I have spoken with them at length and they are frustrated. They can only process what Olint transfers and now they are stuck with us calling just like Olint’s staff. They are nice people dealing with frustrated investors and consequently (just like David’s own staff) they have no power and no words of comfort.A deeper fear from my end is that when I transfer funds from Babylon to Turks Caicos with Hallmark being the ultimate beneficiary, I may have no recourse because I was sowing funds into a trust company. In other words, this can be – among unscrupulous parties – legalized theft.Where I do agree that something must be done is the potential filing of charges in Turks Caicos if we do not see the minimally stated 80% of principle per the agreement for plan A members, because the statue of limitations tends to be very short in these Caribbean haven countries. I hate to write these words, but we should learn what recourse if any even exists.
129. Patricia Says:
     April 15, 2008 at 8:50 pm Anyhoo..dont know if you socialites remember Muna Heaven, The Jamaican Lawyer who was booted off the Apprentice…well when I heard that Bertram Hill, brother of Carlos was arrested, I thought that name is familiar, didn’t so and so marry someone by that name in a rather “Heavenly Affair”, last Christmas..so I went a digging…lo and behold she did, but is the JR, son and nephew to the Original Ganster…check out some of the guests in attendance.http://www.jamaica-gleaner.com/gleaner/20071230/social/social3.html
130. Rich Kid Says:
     April 15, 2008 at 9:26 pm MD really a annoy mi now yuh nuh
131. Stress now Blessed Says:
     April 15, 2008 at 10:00 pm Rich Kid,
     what happen to you now?
132. dehustle Says:
     April 15, 2008 at 10:21 pm Hi Guys
     Have been trying to avoid the blog as it has been giving me a headache but ….. like any true crack addict keep coming back for a whiffPAT, I didn’t waste my time away though actually got that blond wig but me bad mindedly keep it for mi new avatar “Check it out” (Hopefully that will put mi up to a least REDP level in the O payment queue)
     And If all else fails note that we are scantily dressed for the “hustlings “ I may have to do come end of May or is it June or ….JulyHmm …Why worry When U can Pray
     Peace
133. JohnDoe Says:
     April 15, 2008 at 10:30 pm O, MD, and WW should find this quote interesting“Defendant also confessed that between August and December 1986, he and his co-racketeers employed misrepresentations, false statements and delay tactics to prevent customers from obtaining refunds, while at the same time, diverting the advance fees to their own use.”
     “Those who do not know/ignore* history are doomed to repeat it”
134. RedP Says:
     April 15, 2008 at 10:40 pm Question: 1. Whats the point in giving funds to C/Blu when they trade through FXCM and PGF BEST and charge you 20% – 30% of net/month. Why not just ask FXCM or PGM to manage your account??Question: 2. Do you think it possible that Carlos actually did intend to pay back evry smaddy but because of FSC/NCB did not really get a chance to get his sh-t together? What say you all out there in blog land.Question 3. Wouldn’t it be great if a bad ass attorney like Churchill Neita could manage to get A/hole MLC on the stand whilst defending Carlos?? That would be interesting!!

     RedP

135. RedP Says:
     April 15, 2008 at 10:44 pm #1177DeHustle, WOW WOW BRAP BRAP, welcome to the club!!
136. Stress now Blessed Says:
     April 15, 2008 at 10:48 pm RedPQ 3- How about if Johnny Cocharan neva ded? He would say to the FSC, NCB and di Prosecutor
     “if it doesn’t fit, you must acquit”
137. OneJam Says:
     April 15, 2008 at 11:17 pm But SnB, “it does fit, so you must convict” ……… pls re-read this article link bwlow and u see the similarites and CH strategy at work. We all should read this again. We will now understand the man that CH is and his plans. he know what he was doing by calling in the receiver coz nobody nah get hime money. He is the Don of Cons.RedP …. Question 2: Him neva plan to pay back nobody ….. why should he…..him get whey with it once and heim going try do it again. Him fool the big big US courts and he going fool the JA courts too, watch the proceedings. Churchhil is the best man for the job, him going to walk free.Read this again and u see he has done the same thing AGAIN.

     http://www.jamaicaobserver.com/news/html/20071204t220000-0500_130057_obs_the_trials_and_convictions_of_carlos_hill.asp

138. Mercury Vapor Says:
     April 15, 2008 at 11:39 pm Re: 1179RedP asked: “What’s the point in giving funds to C/Blu when they trade through FXCM and PGF BEST and charge you 20% – 30% of net/month. Why not just ask FXCM or PGF BEST to manage your account?Ok, FXCM and PGF BEST are forex brokers. So you can open an account with them and then trade the forex market. They will not trade for you, i.e. manage your account. If you do not have the skill, experience and time to trade your own account you can pay a professional forex trader to trade your account (a managed account).

     Now, professional forex traders that offer their services all charge between 20% to 30% (of new profit) for their service, that is how all of them get paid. Some charge even higher, like 40%, and some charge monthly while others quarterly. Forex traders don’t work for free, they all charge for their service.

     Ok, now that I’ve explained that…actually FXCM has recently also offered a few managed accounts. But again, the fee structure is the same. They will charge you 20% a month from new profit made on your account. Plus, they will also charge you a 2% management fee each year.

139. Patricia Says:
     April 15, 2008 at 11:49 pm Hey J’can or LivinginBab….tell me ’bout a good ETF…the C’dian govt look like they’ll be whittling down the tax benefits on them, so not so sure how much more beneficial they’ll be vs. mutual funds…..how is it looking over in Babylon?….what about REITS, as oppose to actual r/e pses?…I’m waiting to see more fall in r/e prices esp from NC down to Fl, b/4 jumping in….I’m thinking there’ll be another 2-3 yrs of prices slumping…what do u guys think??
140. RedP Says:
     April 15, 2008 at 11:49 pm You guys are so helpful!! BOOM, Unoo a di best!!Love and Peace and to all a good nite.
     RedP
141. RedP Says:
     April 16, 2008 at 6:40 am Good Morning folks, I see that you all went to bed early and can’t wake up this morning!Tip of the day: Psalms 1
     Blessed is the man that walks not in the counsel of the ungodly nor sitteth in the seat of the scornful nor standeth in the way of sinners but his delight is in the law of the Lord.If any of you are in the hardware business be on the lookout for unscrupulous characters (ginnals) selling steel below cost price. Apparently about 60 odd tons was stolen from Tankweld Metals recently (inside job).
     My father in law was approached about a week and a bit ago to purchase some, needless to say he declined. Him no waan hug up Carlos an im nah no vaseline!!

     Besides, How can you expect God to bless your business if you are going to sell tiefing goods.

     More time people,
     RedP

142. RedP Says:
     April 16, 2008 at 6:43 am Living N Babylon, check your e-mail please.
143. DR Says:
     April 16, 2008 at 7:03 am C+ story continues:-http://www.jamaicaobserver.com/news/html/20080416T010000-0500_134600_OBS_CASH_PLUS__PR_CONSULTANT_ARRESTED__CHARGED.aspOh boy:-
     US $7 billion off-shore: wow

     http://www.jamaicaobserver.com/news/html/20080416T010000-0500_134601_OBS_CASH_PLUS_DRAMA____CARLOS_HILL_AND_CO_ACCUSED_CHARGED_WITH_FRAUD.asp

144. DR Says:
     April 16, 2008 at 7:29 am Think & Check:-CH was “leaching” around to get “forbed”…. but alas “Bruce Lee” said oh no….. I’ll do whatever it takes to mess you up.
     Can you beleive, CH might be richer than “you know who”.They might have achieved their “US dollars billionaire” status by doing two different things but who says they were both “legal”.

     hint: Afterall ‘ponzi’ and ‘pharmacist’ both starts with a “p”..ha ha ha h ah a a

145. DR Says:
     April 16, 2008 at 7:32 am People, The Hill is now a mountain!
146. DR Says:
     April 16, 2008 at 7:42 am Take a look at the list of the world’s richest…Tell me something is the #3, Carlos Slim Helu, the man who bought “miPhone”? hmmmmmJamaica’s Hill could have made the list at #104….wow

     (I think this list is out-dated because I think I heard that Gates was now #3)

147. Stress now Blessed Says:
     April 16, 2008 at 10:10 am DR-
     You are an idiot!
     Seriously though you mad a good point.If you look closely you could get Hill out of “Slim Helu”-ha ha ha ha ha I crack me up!
148. DR Says:
     April 16, 2008 at 10:11 am Oh my….US$7 billion is approx JA$500 billionwow… Could that write off the debt of the whole country?
149. DR Says:
     April 16, 2008 at 10:14 am So MiPhone is owned by America Movil:- hmmmhttp://www.miphone.com/dynaweb.dti?dynasection=aboutus&dynapage=about
150. DR Says:
     April 16, 2008 at 10:21 am Jamaica not doing too badly after all with all these US dollar millionair Investors…… oh my:-1) Carlos Slim (Mi-Phone)
     2) Carlos Hill (Cash +)
     3) Michael Lee Chin (NCB and a big piece of Jamaica)View “Carlos Slim” profile….interesting
     http://e-tertain.blogspot.com/2007/04/forbes-carlos-slim-is-worlds-2nd.html
151. Stress now Blessed Says:
     April 16, 2008 at 10:22 am DR-
     You tink dat now dat CH under pressure him wi tell dem seh HW was a partner in crime?Memba sah a HW was taking new ppl when C+ became one of their biggest clients.What a sin ting.
152. DR Says:
     April 16, 2008 at 10:29 am Wayne Chen spoke:http://www.radiojamaica.com/content/view/7150/26/
153. DR Says:
     April 16, 2008 at 10:31 am SnB,ARe you really trying to imply that there was a relationship between C+ and HW? I don’t think so…I never heard that before…no sah…“Birds of a feather…..etc
154. Pip Unit Says:
     April 16, 2008 at 10:52 am When trying to request money from Lewfam what have been some of the responses that you all have been getting?
155. Stress now Blessed Says:
     April 16, 2008 at 11:03 am DR-
     Check it out…HW runway right before C+ fell. I would not be surprised if they are tied to the hip- Conjoined twins. I see something even more sinister here; what if we were to find out that Swiss Cash and all those other clubs that came and went into thin air at lightening speed, were a byproduct of C+ but a US$ generating component?
156. Anthony_dundee Says:
     April 16, 2008 at 11:05 am pip unit is there anything wrong with Lewfam? Let me know asap I am a member of Lewfam? I two others in lewfam, one took 11 days one took 3 weeks earlier this year.
     Let me know what you hear. They had a great March in terms of return 14%
     email me anthonythelandman@yahoo.com
157. Geotrdr Says:
     April 16, 2008 at 11:47 am @Pat 1131I will. You know whats going? You know about J having plans for it? Lets see what happens. Come nuh Cap Blu guys…..say something nuh. Rope in nuh. Nuhting nah go bite you.
158. Geotrdr Says:
     April 16, 2008 at 11:48 am Anybody interested in getting come constructive chit chat going in the fx traders forum?
159. Floridan Says:
     April 16, 2008 at 12:01 pm Two questions…1. Carlos Hill sane or insane???… Man can have them breed a money and still a thief more???2. Patricia… Since you sound like a lawyer, doesn’t Jamaica have a form of RICO Act where they can seize the proceeds of crime???

     My thinking is that if Hill really have US$7 billion, they could seize that, payout the J$4 billion that owe to the 40,000 investors and use the balance and pay off Jamaica National Debt.

     Just a thought…

160. OneJam Says:
     April 16, 2008 at 12:25 pm Carlos feel he brighter than the backward Jamaican people. He fool the big white US govt people so he can do the same in Jamaica. Was he successful ? Only time will tell !!!So to answer the question is he sane or insane ? He is half crazy ….. not full crazy only half or as my old man would seh, him a half idiat nuh a full idiat !!!
161. Patricia Says:
     April 16, 2008 at 12:55 pm Floridan, Miss Patti is a hustler and does not live in JA, so she cant do anything but ramble, sometimes in her sleep…..ok!!!that said, yes, there is similar legislation.And,I gather there wont be as much SOCA if they unleash the full force of the POCA and other related laws and regulations.
162. dave Says:
     April 16, 2008 at 1:26 pm what is Donovan Davis Jr.’s username on this site?
163. Blessed Child Says:
     April 16, 2008 at 1:35 pm Greetings all
     I dont post on here but read almost everyday. THIS JUST IN: I received an email from LEWFAM that they will be taking 1% of my April earnings to go to the “Caribbean Currency Traders Association (CCTA)”. They will “Promote professionalism, adoption of fair practices and just and equitable principles of trade” and a long list of other things.I havent had any problems with Lewfam and have no problem donating 1% of my funds
164. JohnDoe Says:
     April 16, 2008 at 1:50 pm Few Questions….1. Where is the CCTA registered?
     2. Who are the principals?
     3. Who are the members?
     4. Do they have a charter?Are they telling you or are they asking you about that 1%?
165. JohnDoe Says:
     April 16, 2008 at 1:52 pm Tip of the day: Psalms 1
     Blessed is the man that walks not in the counsel of the ungodly nor sitteth in the seat of the scornful nor standeth in the way of sinners but his delight is in the law of the Lord.How do you expect God to bless you when you have ill-gotten gains?See these Ponzi/Scams: Charles Ponzi-1920, New Era-1980s, Better Life Club-1998, CEP trust -2007, Wealthpools-2008

     In all these cases, the Courts/Receiver, asked/ordered ” investors” who had received more than the principal they had put, i.e. “profits” to return it. Those who failed to, in a some cases, have had their names and amounts owed to the scheme(receivership), published to the public and were sued.

     Are people ready to make restoration/refund when the MD,WW,O,CP(in receivership) receiver calls and knocks….

     And don’t forget that once the records are available the issues of TAX EVASION and MONEY LAUNDERING

     How can you expect God to bless your business when you have ill-gotten gains?

     See these Ponzi/Scams: Charles Ponzi-1920, New Era-1980s, Better Life Club-1998, CEP trust -2007, Wealthpools-2008

     In all these cases, the Courts/Receiver, asked/ordered ” investors” who had received more than the principal they had put, i.e. “profits” to return it. Those who failed to, in a some cases, have had their names and amounts owed to the scheme(receivership), published to the public and were sued.

166. Blessed Child Says:
     April 16, 2008 at 1:57 pm JohnDoe
     1. At the Jamaican Registrar of Companies
     2. I have no idea
     3. See #2
     4. See #3They say if we do not respond and say we do not want it to be taken that it will automatically be taken.
     Lewfam has been good to me. Do I really want to argue about the 1%? NO
167. JohnDoe Says:
     April 16, 2008 at 2:04 pm Driva!!! you can edit my previous post and remove the duplication and delete this one..
168. cookie Says:
     April 16, 2008 at 2:10 pm Pon lewfamMi nuh have a problem. Anything fi fight the babylon dem.Bloggers mi did a read an article inna a black enterpenure jus recently.Guest who didda chat LC.Im sey dat the investment business inna canada did stop mek him money, so him sell most of it to some ins co there. Im new company portland sintin was now set up inna did the cariibbean and inna focus pon dat now. Him went on to sey that the carribean have alot of aging baby boomers plus new and emerging margins etc.
     Bascically him didda plan pon the cariibean and ja. But the investments schemes dem now a bus him sut. dats why himma fight so hard fi get dem outa im cookie jar. Bouy dem demma cut out most of im market share.

     yu neva si smoke without fire.

169. cookie Says:
     April 16, 2008 at 2:17 pm wi need fi bouycott NCB
170. Livin n Babylon Says:
     April 16, 2008 at 2:21 pm Hey guys just a quick note regarding my fund. I’m still a few weeks out. My large underwriter will have his funds by the end of this month and I already have a letter of intent for a large amount. Our issue is determining disclosure without facilitating circumvention, which is what people always try to do. Going through this experience and another theft here in Babylon has made me very wary as you only know too well. So, here’s what we know so far, each month’s report will detail:
     1) All traders’ gross gains reported
     2) Company’s performance fee subtracted
     3) All gains reported with a combined gain expressed according to the weighted average among each trader
     Then each quarter the Luxembourg required audit will be forwarded to each shareholder.
     Again this will only work for 125,000 Euro minimum participation and the BVI feeder fund will take about a month longer with a minimum of 50k USD.
     Let’s hope that come end of May we can see some funds.
171. JohnDoe Says:
     April 16, 2008 at 2:25 pm If it was not NCB, it would be BNS, RBTT,FCIB or FGB. NCB was just the bank caught with Cash Plus Cookies
172. Mr Info Says:
     April 16, 2008 at 2:30 pm I feel that Lew Fam is taking extrordinary measures.Dear Club Member/Partner;Re: Update on Activities and Operational Issues

     We thank you for your continued support in what has become an increasingly public and in some instances even hostile (from some quarters) operating environment. As you are aware, there has been an anti-forex agenda that has been and is still being waged by vested interests. Nevertheless, we have committed for the long haul and will with your support take such steps as are available to ensure that your confidence and desire for best returns on your monies is maintained.

     We have now considered it necessary to forge working alliances with similar forex arrangements and have since December 2007 made significant strides to this end. These efforts have included the incorporation of a representative body – Caribbean Currency Traders Association (CCTA) – at the Jamaican Registrar of Companies. Steps are also being made to register the CCTA in other jurisdictions. The objectives of the CCTA are to:

     Promote professionalism, adoption of fair practices and just and equitable principles of trade, and the establishment of the CCTA Members’ reputation as honest, responsible, and credible businesses;

     Promote innovation and a competitive economic environment as well as provide general support, where feasible, for economic development throughout the Caribbean and in such other jurisdictions as CCTA Members may operate from time to time;

     Inform and educate CCTA Members, the public at large and, in particular, the investors on all aspects relating to foreign exchange trading and associated activities; in particular, to promote the education of CCTA Members in best practices of risk management and business practices;

     Undertake the self-regulation of CCTA Members to ensure that the objectives of the CCTA are met and using the expertise and resources of the CCTA Members to protect the public interest, and, in particular, the interests of the investors and the reputation of the industry

     Develop and maintain co-operative relationships with regulatory bodies and self-regulatory organizations dealing with currency trading throughout the Caribbean and the world;

     Adopt, implement, and enforce rules, systems and processes regarding fair practices that will be designed to prevent manipulative acts and practices, enhance transparency and accountability, and, generally, protect the public interest;

     Adopt and implement standards regarding qualification for CCTA Membership, which may include standards regarding education, training and mentoring;

     Establish appropriate procedures to settle disputes among CCTA Members or between CCTA Members and the investors

     Establish appropriate procedures to monitor and enforce adherence to the rules and practices of the CCTA by CCTA Members.

     While these objectives have been well considered they are not set in stone and could change over time as operating conditions and other environmental factors require. However, even with necessary change we have mandated that the CCTA must at all times protect the best interests of the public as well as individual club members’ interests. It must also promote honourable conduct among CCTA Members and carry out its functions in a transparent and efficient manner.

     Given the current operating environment, including a well organised anti-forex lobby, we have had to devise and implement ongoing and pro-active strategies and appropriately weighted responses as challenges arise. The CCTA has engaged the services of a team of international consultants with members from Canada, The United Kingdom and Australia which has prepared a policy position paper and a code of conduct document that have formed the basis of discussions with the government. As agreed in our last meeting on March 13th 2008 general ongoing public education and public relations support is critical and this will be coordinated through the CCTA.

     We have at all times sought to avoid the application of bank-type charges and have to date absorbed related expenses. While this is our preferred approach, from time to time individual club members have offered to assist and some have considered it their obligation so to do. In principle we do not intend to burden individual members with bank-type charges; however, given the extensive and ongoing strategic campaign that is now required of us some of our individual members have proposed and we accept that continued full absorption of related expenses is not in the best interest of the club or members more generally. In the circumstances we now seek your consent and we will with it retain one percent (1%) of one (1) month’s gains which will be contributed to support the operational budget of The CCTA. We firmly believe that this will substantially defray anticipated operating expenses of the CCTA in a more organised and collective manner.

     For this year – 2008 – we propose to retain the said 1% from your April 2008 earnings and we anticipate that you will, in light of the explanation given above, find favour with this approach. Please contact us by return e-mail or telephone if you do not intend to partner with us in this necessary campaign for stability and improvement in the environment in which we operate. Should we not hear from you, in the negative, within seven (7) days of this note we will proceed on the basis that you have in fact agreed to the proposed retention. We also trust that you will nevertheless communicate your support through e-mails and by phone and join with us in what has become a necessary legal, regulatory and public relations campaign by the CCTA against a well organised anti-forex lobby.

     Thank you for your kind understanding and support. And may God continue to bless you richly.

     Yours Sincerely,

     LewFam Club

173. Blessed Child Says:
     April 16, 2008 at 2:36 pm @ Mr.InfoAre you going to deny them the 1%?
174. Mr Info Says:
     April 16, 2008 at 2:40 pm Absolutely not! They are trying to build something that will alliviate so many problems that teh FX clubs are experiencing !Remember, this will effect DS as well due to thier partnership.Maybe thier not a scam or ponzi after all.
175. Blessed Child Says:
     April 16, 2008 at 2:44 pm I agree. I’ll gladly pay that and never give it another thought.
176. pete Says:
     April 16, 2008 at 2:48 pm Patrica I smell a Big Rat this is the biggest co-ordinated set-up by the FSC,Local Banks,government,local press and the second last act was the fastest proactive police investigation and arrest I have every seen in Jamaica.1)The spread fear, doubt and uncertainty about cash plus and it’s owner2)Block monies coming into the accounts from overseas

     3)use money launder and lack of being register as an excuse to close CP accounts and block pay-out local members at the time they depended on it the most Christmas

     4)Create one voice with the local media by controlling the info flow

     5)Ch got smart and hired price&Waterhouse and securing loans from Cayman which would have made all parties above look foolish.

     6)Price Waterhouse stated the local companies owned by CP could not payback the member no surprise.

     7)Next day police and investigation start on what bases and Money express is still free ?

     8)News come out stating CH has asset of 7 billion US and only owe local member 40 U.S million and this is a ponzi?

     Conclusion

     This black boy got out of line and if he paid back the money the old boy or master system mash-up and all Ch would do is go off-shore. I can’t see how the State can prove this case of fraud in court but in the court of public opinion with one voice from all media house CH is convicted. I now see all the investor on this blog making remarks and buying into the fear, doubt and uncertainty on all investment club allowing them to get at the clubs that are now off-shore indirectly.

     I don’t have money in Ch but I have money in other clubs and I believe CH is more transparent than the once i am in due to the fact that he was not hiding his assets in local purchases and companies he invested in I am sure we we did the same investigation into NCB we will find most of their asset are offshore not local.

177. JohnDoe Says:
     April 16, 2008 at 2:50 pm Maybe not, but it could be a front to buy legitimacy.Who are the principals of CCTA and the affiliate companies? If it reads the list of companies that refuse to be regulated and are not open to transparency, disclosure and accountability, people will be able to make a judgement.Why not 2% of their earnings to show commitment to you?
178. Wan Spec Says:
     April 16, 2008 at 2:51 pm DR – # 1189. I thought you were bigger than that. If you have proof, do something about it, otherwise spreading rumors like that is irresponsible.How come we never accuse Bill Gates or Warren Buffet of drug dealing but we so ready to believe the worst about one of our own?
179. OneJam Says:
     April 16, 2008 at 2:55 pm Pete, where are the assets that CP have in Jamaica ? Where ? Dont call Drax Hall, Hilton etc. coz I understand those are not in CahPlus hands. I may be wrong but prove to me these assest of CP u mention in ur post.
180. Wan Spec Says:
     April 16, 2008 at 2:55 pm John Doe # 1210 – That would only apply if you knew or should have known that you were involved in a pyramid or ponzi. Members of clubs which deal in forex would have a very good defense.
181. JohnDoe Says:
     April 16, 2008 at 3:06 pm @ 1225
     Sorry Wan Spec re: 1210. That’s what many people might think. It does not matter what it was called. Once it is determined that the “FX trading” was a Ponzi/Pyramid, the same applies…..@Pete
     Take and deep breath, then go read or re-read http://www.jamaicaobserver.com/news/html/20071204t220000-0500_130057_obs_the_trials_and_convictions_of_carlos_hill.asp
182. Patricia Says:
     April 16, 2008 at 3:10 pm Gentle folks anyone wish to bid???http://healthandfitness.sympatico.msn.ca/Health+Canada+looking+for+firm+to+grow+its+medical+marijuana/News/ContentPosting.aspx?isfa=1&newsitemid=17596016&feedname=CP-HEALTH&show=False&number=0&showbyline=True&subtitle=&detect=&abc=abc&date=True
183. Oneil Says:
     April 16, 2008 at 3:20 pm TO all my fellow bloggers with Capital Blu, email me at oneil1901@yahoo.com. tell how things going
184. Oneil Says:
     April 16, 2008 at 3:24 pm HW- GF
     CP- GF
     WHO NEXT??
185. Sharonette Says:
     April 16, 2008 at 3:47 pm Since i dont know much about the ‘plant’, Can I bid for the ‘Marry Juana’ project and then invite some Jamaican farm workers to conduct the day to day operations?
186. pete Says:
     April 16, 2008 at 3:59 pm OneJam Says:
     April 16, 2008 at 2:55 pmPete, where are the assets that CP have in Jamaica ? Where ? Dont call Drax Hall, Hilton etc. coz I understand those are not in CahPlus hands. I may be wrong but prove to me these assest of CP u mention in ur post.OneJam I cannot help you if you can’t understand entering to an agreement to purchase between two entities with payment terms which is legal and common means in purchasing land or companies in Jamaica I don’t know if they have missed a payment or not mybe you can inform me.

     Asset of cash plus was stated in the local media by the local police so if they’re miss informing us with out doing proper due diligence on the information they release as fact’s

187. JohnDoe Says:
     April 16, 2008 at 4:13 pm @Pete
     Of the very few things, ACP Les Green was positive/definite about this was it. He said that as a fact Cash Plus does not own Drax Hall or Hilton.Have you read the Observer Article yet?
188. Opportunity Says:
     April 16, 2008 at 5:08 pm The C+ saga is bigger than the local authorities, the police and the courts. No locals are equipped to handle something like this. They will have to get outside help. Not to mention the economic fallout that this will have on the local economy as we have already started to see.
189. OneJam Says:
     April 16, 2008 at 5:16 pm JohnDoe, Thank You. Pete they do not own anything of substance, MAYBE an office block here and there.
190. Ronnie Says:
     April 16, 2008 at 7:43 pm All the clubs need to do is commit to providing investors with quarterly and regular externally audited statements by a reputable accounting firm. This will solve most of the transparency issues, instill confidence by investors and attract loads of new investors desirous of such phenomenal returns.It sure sounds simple. Organizations and all that stuff is not needed to solve the confidence issue.
191. Pip Unit Says:
     April 16, 2008 at 8:18 pm The 1% that Lewfam is asking for to just April right?” In the circumstances we now seek your consent and we will with it retain one percent (1%) of one (1) month’s gains which will be contributed to support the operational budget of The CCTA.”Also spoke with a rep at lewfam and they are getting ready to roll out some sort of debit card system that is going to take the place of encashement request. I spoke with a few other members who are friends and they have been notified via email that they would be receiving this debit cards in the next two weeks. From what i hear they are not sending them to all members out at once but out in batches at a time. I REALLY think this will help a lot to speed up request. I believe these cards from the Bank of Belize. Has anyone heard anymore on this?
192. cookie Says:
     April 16, 2008 at 8:45 pm Pip unit,The debit card seems intereting. But I live in US. Is this only for the Jamaica customers who are having difficulty getting the cards or everyone.
193. Monica Brown Says:
     April 16, 2008 at 8:52 pm a friend of mine related to O was promised some funds tomorrow. am willing to bet he is in for a disappointment !!!! anybody willing to bet against me? lol
194. PEI Says:
     April 16, 2008 at 8:58 pm #1238 nobody going bet on that and me feel it for him like everybody else. nothing in that to make joke about.I like what Lewfam doing. sounds like they trying to progress. They have different traders too. You dont hear no problems as such with the others that dont use DS to trade. Things quiet on those front.
195. Monica Brown Says:
     April 16, 2008 at 8:58 pm oniel yu nuh memba swiss cash?
196. unreal_investor Says:
     April 16, 2008 at 9:14 pm Just like how lewfam weeding out the bad eggs in their clubs, mine O doing the same… gwan mek a big stink over every likkle ting so they can memba yuh… Anyone hear that some worldwise member called cvm to create mischief so she could get her money back? Well she eventually got her money and all her accounts were closed, mi just hear that she bring lawyer back down to the office, demanding they open back one of her accounts… Them seh only if she go pon cvm and apologize and tell everyone seh she gone in back. Anyone can confirm?
197. Pip Unit Says:
     April 16, 2008 at 9:21 pm Cookie.. I am a US resident as well and all of my 2 friends that are getting them are USA as well. So looks like this is going to be the way they are going here soon. Would be nice to roll up to an ATM and pull out my enchasement for the month instead of having to bug the hell of Lewfam lol.
198. Pip Unit Says:
     April 16, 2008 at 9:26 pm PEI… i was aware that “DS” was one of the main traders for Lewfam but you metioned that they have other traders? If that’s true then that puts me at ease even more. Diversification is a good thing.
199. DH Says:
     April 16, 2008 at 9:38 pm Pip unit
     you will still have to make the request for funds and lewfam would put the amount on the card, so yo u will still have bother them
200. Roli Says:
     April 16, 2008 at 9:49 pm 1241: Heard O is gonna do the same soon, plus some new encashment procedures than the ones we have already seen.
201. unreal_investor Says:
     April 16, 2008 at 10:02 pm 1245: I hope so.
202. Pip Unit Says:
     April 16, 2008 at 10:07 pm They still need to give us the specifics of the debit card procedures. But I would think it should speed up things.
203. Livin n Babylon Says:
     April 16, 2008 at 10:11 pm I am interested in learning more about this CCTA entity and I don’t see this as an attempt at legitimacy, but I do see a shot at a serious need being met. The securities versus non-securities arguments are driving me insane. Here in Babylon with US Code Title 71 stating that the CFTC is the EXCLUSIVE JURISDICTION for currency trading – different district courts are ruling all over the place. So in other words until the Babylon Supreme Court hears a case and renders a verdict it’s all up in the air. THIS IS A PROBLEM, because far too many governments, which have perfectly good laws “as is” watch the US for the lead.In comes Panama. The Republic of Panama used to be a friendly jurisdiction to forex trading, but now, in the wake of fraud and abuses, rather than simply adopting a stance or enacting a legal manner for handling forex they decided to just place the entire matter under their securities law. Listen up Ja-people, your government is moving the same way and guess what? You will not be allowed to participate in forex trading any longer, unless you can prove that you are a wealthy-sophisticated “accredited investor”.The only saving grace in all of this is the “managed forex” program, however this will require the broker-dealers to meet stringent requirements. Earlier someone was discussing/asking that David would have to be a CTA at a FCM. This is currently not the case, however laws are being proposed by Congress here among the CFTC with the NFA’s seal of approval that will enact sweeping changes.
     —————————
     One more thought on banking related discussions. We have got to get pass this issue of (if it is true) Olint moving $400M and people saying that’s nothing. This talk of, “Well I have banking experience and that shouldn’t be an issue – blah, ba-blah.” Yes it is an issue, because the operational line of credit is already established based on the bank’s perceived understanding of the relationship they entered into.

     Thank you Mr Tex, Pip Unit, and Mr Info for the LewFam submission
     I now have more hope than I’ve had in quite some time. We’re going to get through this!

204. Livin n Babylon Says:
     April 16, 2008 at 10:20 pm Would someone comment on “Opportunity” from April 14 – I am totally ignorant on banking matters with NCB and it seems like an interesting post. I’m surprised that no one has chimed in on this one.
205. Stress now Blessed Says:
     April 16, 2008 at 10:21 pm I requested funds to be transferred from one O accoun to an OTCI account and it was done rather expeditiously.Request made Friday the 11th tramsfer was pending – trading took effect on the 14th and balance updated in account as today.Impressive!
206. Patricia Says:
     April 16, 2008 at 10:33 pm LnB how you dis me so.? ..I asked u about ETFs and REITS earlier Anyway guess u busy.
207. cookie Says:
     April 16, 2008 at 10:45 pm I do not think the debit card will speed up the process.
     Why?
     Money has to be available to be loaded onto the card just as a wire transfer has to have money available to wire.
208. Opportunity Says:
     April 16, 2008 at 10:51 pm Saw this in Forex News abovehttp://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSN1632317720080416
209. jahbilly Says:
     April 16, 2008 at 10:52 pm 1251 Patricia
     I read your previous post and wondered if you looked at the Canadian Energy trusts
     ie, pgh,pvx,erf. all pay a monthly dividend and have good records of divy and price appreciation.
210. overchill Says:
     April 16, 2008 at 10:54 pm Can you withdraw monies from Olint TCI? Anyone?
211. cookie Says:
     April 16, 2008 at 11:13 pm overchill olint not paying out until may, june.so sit tight
212. Patricia Says:
     April 16, 2008 at 11:17 pm Jahbilly, thanks for that info…so is it a good idea to enroll in DRIP if u r a unitholder, always thinking about the tax consequences, esp since there are monthly distributions
213. overchill Says:
     April 16, 2008 at 11:18 pm I just wondering why people flocking to otci
214. cookie Says:
     April 16, 2008 at 11:27 pm otci does not falll under the jurisdicoton of babylon
215. DW Says:
     April 17, 2008 at 12:14 am Has anyone else been successful with transfers from O account to OTCI…SnB,I must say rather IMPRESSIVE!!.I have been waiting for over three weeks now.
216. Stress now Blessed Says:
     April 17, 2008 at 12:22 am DH
     did you get proof of the request for transfer?
217. unreal_investor Says:
     April 17, 2008 at 6:07 am Investor awarded US$200,000 in suit against Ricardo Azanhttp://www.jamaicaobserver.com/news/html/20080416T230000-0500_134625_OBS_INVESTOR_AWARDED_US_________IN_SUIT_AGAINST_RICARDO_AZAN.asp
218. unreal_investor Says:
     April 17, 2008 at 6:11 am Open enquiry into alternative investment schemes, Bunting challenges Gov’thttp://www.jamaicaobserver.com/news/html/20080417T020000-0500_134647_OBS_OPEN_ENQUIRY_INTO_ALTERNATIVE_INVESTMENT_SCHEMES__BUNTING_CHALLENGES_GOV_T.aspI miss the days when the clubs were under the radar…
219. InForTheLongHaul Says:
     April 17, 2008 at 6:24 am BBC World Service radio is just reporting on the Cash Plus saga!
220. Rich Kid Says:
     April 17, 2008 at 6:36 am Guys – I have been thinking….when you look at things – somebody has been ultimately responsible for what is happening to these investment clubs…..I don’t have to remind you of Leachings role and I trust that most have you have severed most, if not all, ties with his group of companies – y’all know them.Now it’s time for us to go after the “super” chain of hotels because is I$$A a cause nuff problems with Olint – hear it from good source is that he was trying to coerce DS to pay a flat 5% to him investors and him and fi him “super” family coulda get any interest weh dem want pan fi him account(B or C or both) and DS said no him can’t do dat – so wah di bredda do??? withdraw $600mUS – thus everybody’s demise.DS will survive – be patient. RIU and Sandals are very nice….and they too have family resorts.
221. jahbilly Says:
     April 17, 2008 at 6:46 am 1257 Patricia
     Not sure if they do drip’s in Canada. I do it manually in scottrade. I hear etrade/ameritrade does the re-investment for you. Even with taxes you still make out more than most investment these days.
222. DR Says:
     April 17, 2008 at 6:57 am re: Investment schemes: Somebody wants the truth to come outhttp://www.jamaicaobserver.com/news/html/20080417T020000-0500_134647_OBS_OPEN_ENQUIRY_INTO_ALTERNATIVE_INVESTMENT_SCHEMES__BUNTING_CHALLENGES_GOV_T.asp
223. JohnDoe Says:
     April 17, 2008 at 7:10 am don’t be fool with the water flowing….. It will flow for some but the drought is coming
224. unreal_investor Says:
     April 17, 2008 at 8:02 am Rich Kid if what you said is true then this delay is in O members’ best interest. Let DS do what he does best…
225. Wan Spec Says:
     April 17, 2008 at 8:10 am There is an ad from WorldWise on page 12 of Thursday Life in The Jamaica Observer. You either need to get the paper or e-paper versions to see it.I guess they are trying to reassure their investors after the Cash Plus fall-out.If you want a copy email me at wan_spec@yahoo.com and I will send you a copy
226. DH Says:
     April 17, 2008 at 8:15 am SnB
     Proof of request for transfer
     the person that made the request forwarded a copy of the mail sent to ‘O’
227. RedP Says:
     April 17, 2008 at 9:44 am Morning people, You know what woulda sweet mi?? If there was a run on NCB and see how dem like it!!
     RedP
228. Geotrdr Says:
     April 17, 2008 at 9:44 am @1265.Slow down there Kid. That entire family is not invovled. Its just one individual. Why punish an entire group of people for some thing they had nothing to do with? Why attack a business that is not run by said individual? Further more that individual has branched out and has his own businesses. May be you should ask your friend for some more info so you can boycott the correct businesses. Even more careless is the $600 million dollar figure. Sheesh I though the $300 million dollar figure was a joke. The actual figure people is so much lower than both. So much lower.In business a Man can ask for what ever he wants and a Man can reject any offer presented to him. Thats business. Were the two in business together? Yes. Was something presented and rejected? Yes. Did the two part ways? Yes. Did the somebody have an evil plan to keep the little man down? No.

     Person in question is n EXTREMELY shrewd business man. He is NOT going to remove his resources from something that is making him some good returns. Unless he has found something else that gives him better returns. Maybe you should research that.

229. JohnDoe Says:
     April 17, 2008 at 9:49 am Look at how people have to be behaving… “You have proof”, “Yeah me see a forwarded e-mail”,”Send me a copy to my e-mail me want to see it”Unno even sure that e-mail authentic or fraudulent, a PR stunt… unno sure that people not posing on the board as ‘O’ agents…Now more rubbish; that is I$$A fault. LOLOLOLOL. Let me see, unno gone to boycott the shell, stop cooling down or filling up at all the oasis, no more relaxing at the super, no more coupl-ing in addition to no more stocking up at S+, banking with Leeching and lock down the Flow….and insuring at advantage.

     oh for transparency, disclosure and accountability….

230. Geotrdr Says:
     April 17, 2008 at 9:49 am RedP. I’m not a fan of NCB. I will not be giving them any of my money. But honestly a run on NCB would not sweet you or anybody else. Just remember what happened the last time there was a run on one bank in Jamaica.
231. UpNawt Says:
     April 17, 2008 at 9:53 am I’m new to this site, and I am really fascinated/horrified/worried by what I have been reading the past couple of days. Does anyone know what is happening with MD?
232. Dreamer Says:
     April 17, 2008 at 9:59 am Somebody suggested I post something here that I posted nm another blog. It’s just for info as I think we all need to share our experiences. I must say though that experiences may vary from person to person so bear that in mind.“Well it appears that WW doesn’t have a cash flow problem. I requested a disbursement of a reasonable sum and it was lodged to my account within the waiting/processing period of 7 days.Some investors are getting jittery yes but it appears that if you want your money you can get it. At least for now. That’s what increased investor confidence in Olint, their ability to pay investors their money when they had the 1st run. So it can only augur well for WW when the jitters pass and hopefully they get licensed.

     Just thought I’d share cause not many people seem to be doing that these days .”

     Good Luck.

233. Geotrdr Says:
     April 17, 2008 at 10:10 am Glad we counld entertain you Upnawt.What blog is that Dreamer?
234. Geotrdr Says:
     April 17, 2008 at 10:10 am Glad we could entertain you Upnawt.What blog is that Dreamer?
235. JohnDoe Says:
     April 17, 2008 at 10:20 am That Olint Run that NO independent person can verify…. How much money was under management before the run and how much was left after the run?C+ was still giving the NPL league money even after it stopped paying its “investors”Time will tell..
236. Opportunity Says:
     April 17, 2008 at 10:44 am Ahh JohnDoe yes only time will tell. But for now we all including you should ease up on the level of speculation. If we have facts share them otherwise……………
237. RedP Says:
     April 17, 2008 at 10:45 am Let me play devil’s advocate here. Is it possible/probable for a person to be so uncontionable so as to rip off 40,000 ppl, the majority whom are not wealthy, while having billions in US dollars stashed away?? Leave himself open to investigation and not try and flee?? I hold no brief for Carlos H but I’m beginning to wander.
     Is it possible/probable that certain things have happened behind the scenes because certain ppl/entities have set agendas and certain peoples downfall would be to their benefit??
     Maybe I’m just naiive and gullible but I’m really beginning to question things.
     What say you all??GeoTrdr: I was just being facetious, I know a run on NCB would be terrible but it would be refreshing to see certain ppl get some comuppance.RedP
238. Kaye Says:
     April 17, 2008 at 10:58 am SnBcan you email me at gayan1176@hotmail.com.I want to ask you a question about transferring from “O” to “TCI- O”
239. Futures_trader Says:
     April 17, 2008 at 11:11 am #1282 RedP
     The only thing that is truthfull about Carlos Hill is that he is a Con man.Why would I want to feel the wrath of a possible 40000 people and face jail time and possible death If I had that kinda money sitting in a bank?CH is a con man and he ran a ponzi, now the sooner people would accept that, the better it is for them. No one set him up for failure, it is what it is.

     If it walks like a duck, look like a duck, and swim like a duck it has to be a duck. C++ is dead lets see what is “O” fate.

240. DR Says:
     April 17, 2008 at 11:15 am Maybe “The Hill” was getting ready to run off? We don’t know what telephone conversations were going on the weeks leading up to the early attack on “The Brook or Nor”***************************************
     The Hill has a MOUNTAIN of money.
     ***************************************1274 John Doe:-

     Your commentary was very creative….poetic!

241. cookie Says:
     April 17, 2008 at 11:31 am If he had that kinda money why would be need the few change from jcan people. Maybe the money is fictious or not his at all.But red P I am wondering if yu theory is tru. Wonda if it all a conspiracy to get CH…you have to wonda
242. Mercury Vapor Says:
     April 17, 2008 at 11:32 am Re: Post 1282RedP, man, CH is a crook! He was a crook in the U.S. who ran a ponzi scheme…he got arrested, and after serving his time he came here. When he saw the popularity of DS’s “O” he saw an opportunity to start another ponzi scheme and make a bag of money. He created one that was different from the one he ran in the U.S. but it was still a scam.The man is a con artist, I mean seriously, just think about the C+ model…they were not trading in forex, they said…as far as I can remember…that they were using investors money to buy businesses. Now you tell me, any reasonable person here would know that that’s complete rubbish. Can you invest in businesses and consistently make 10% a month…please! I tell you…the garbage that the Jamaican people will believe…and why? Because everyone wants to make a lot of money, so they just tell themselves: “Yeah man, C+ a di real deal! Yu no si say CH a good yute!”

     Well, he turned out not to be a “good yute”! He is a crook! It’s just that simple!

243. RedP Says:
     April 17, 2008 at 11:34 am #1284 Futuers trdrI’m not sayng no, but somebody who ammasses a fortune such as that is not a stupid person. If you were in his position would you have stuck around so long, or got going when the gettings good and before the cookie crumbled?? If it were me I would have gotten the hell outta dodge a long time ago, cock up mi foot in Fiji and drink a margeurita.
     It just seems to me that something else seems to be at play here maybe it’s just the conspiracy theorist in me but something doesn’t seem kosher to me.
244. cookie Says:
     April 17, 2008 at 11:37 am kevin yu delete mi blog
245. RedP Says:
     April 17, 2008 at 11:46 am #1287 Merc. Vape.I for one was always suspect of the C+/- business model. Being in business I know that it is nearly impossible to purchase a company and turn 10% consecutively right off the bat unless your into Columbian exports, much less 80 odd companies so thus I stayed very far from them.
     But still, supm smell fishy to me.
246. Mercury Vapor Says:
     April 17, 2008 at 11:47 am Taken from the article “Cash Plus drama…Carlos Hill and co-accused charged with fraud” in the Jamaica Observer:“According to Green, documents seized from Carlos Hill’s home revealed that a loan of US$1 billion was secured last January on “at least US$2.5 billion” held in five accounts in Germany. In addition, Green said, the police will have to confirm whether bank guarantees, loans or letters of credit exist for the US$450 million held in Ghana/London and over US$4 billion at other overseas financial institutions, all under the name of Galina Trust Limited, an outfit believed to be registered in the Turks and Caicos Islands.”You guys need to stop talking about 7 billion dollars…is not seven billion dollars the man have! From the article, $1 billion is a loan (received in January), while most of the rest money is loans and letters of credit.

     So is not CH’s money dat! Basically, he took money from investors in Jamaica, created a lot of fictious businesses all over the world (also called Shell Companies), then created fictious financials on those businesses and used them to borrow money from various lending institutions to obtain loans…billions of dollars worth of loans. I think we will see as the investigation goes on, most of that $7 billion will have to be returned to the banks and other lenders. The amount that will be available to investors may be in the range of $1 to $2 billion.

247. Mercury Vapor Says:
     April 17, 2008 at 11:50 am I agree with you though RedP, something doesn’t seem right about the whole C+ affair.Like, why did the FSC wait so long before issuing a “cease and desist” order on C+?
248. OneJam Says:
     April 17, 2008 at 12:08 pm Question: How many yrs can CH and company get under the current charges ? Can anyone answer this ? Can it be increased if more people complain, lodge a report ? Any feedback.
249. RedP Says:
     April 17, 2008 at 12:24 pm I’ll put money on it that this case gets thrown out. Think about it, given all the media attention and police press releases it will be next to impossible for CH to get a fair trial.
     Every potential juror would have already formed an opinion before the trial because of the press coverage, take a look at this blog for instance and tell me which one of us could honestly say that we could be impartial should we be called to jury duty. Not only that, but the potential juror would have to be of above average intelligence to be able to understand the inner workings of this case. I think that the prosecution really has their work cut out for them.
     With a heavy hitter like Churchhill Neita CH has a better than average chance of cocking up his feet in Fiji.
     I just hope the investors get their principal back, couple of my inlaws went in there deep just before the crash against my advice, I’d just hate to see them lose it
250. overchill Says:
     April 17, 2008 at 12:30 pm I dont think he intentionally tried to scam the people. The purchased businesses on their own couldnt give 10% in my eye also, but after hearing about the whole layaway vacation plan, I thought it might just work after a time. Overseas banks are not going to loan anyone that amount of money without knowing where its going to. They might be stupid enough here to give out unsecured loans, but not for that amount. Just my thoughts anyway
251. Mercury Vapor Says:
     April 17, 2008 at 12:33 pm You’re right RedP. I hope that I don’t get called for jury duty…cause if I am…Yow! CH would a neva see daylight again! Guilty! Guilty! Guilty on all counts!!! Give em di maximum judge! Mi would a holla.No sah! You can’t come a Jamdown an play wid people money like dat! Yu nuh see sa a mad dat de bwoy mad!
252. RedP Says:
     April 17, 2008 at 12:47 pm It wil be intersting to see if the banks are gonna be forced to take the stand. We’re living in interesting times.Re Worldwise Advert. At least they’re endeavouring to calm peoples fears,
     Super Dave, where are you?!Re#1273 GeoTrdr. What was the amount that Ji$$a pulled?
253. Mercury Vapor Says:
     April 17, 2008 at 12:58 pm It’s funny that people are saying that I$$A pulled all his money out, because this article suggets otherwise:http://www.jamaicaobserver.com/columns/html/20080409t230000-0500_134394_obs_charlatans_trying_to_bad_mouth_olint.aspHmmm…who to believe? Should we believe Mark Wignall or the posters on this blog?
254. Pip Unit Says:
     April 17, 2008 at 1:03 pm Has anyone received the Debit Cards from lewfam yet? How exactly do they work? When speaking with them on the phone they left the impression that i would use this instead of doing the normal encashement. They never said i would have to submit an encashment like normal and it would be transferred to a debit card instead of wired to my bank. It was almost like i could use this card like a credit card and take money out at an ATM. With that scenario i would assume the bank of the debit card would have to submit a request to be paid back as i use the card. Not exactly sure but that’s how it came off. If any one has a concrete answer let me know.
255. unreal_investor Says:
     April 17, 2008 at 1:29 pm Well the direction Jamaica heading now, I glad O have their money offshore. We soon need an interim government to come sort us out. This year was predicted to be a turbulent year, so I guess prophecy is real. All I can say is pray you on the right side of the fence when judgment comes. On a personal note, all the people calling for transparency and balance sheets with reguards to O, if that’s what keeping you out, then I hope they never produce any … We don’t want your money, keep it…
256. JK Says:
     April 17, 2008 at 1:39 pm someone email me the WW ad please racer2g@hotmai.com
257. Geotrdr Says:
     April 17, 2008 at 1:40 pm Really doesn’t matter RedP.
258. Mercury Vapor Says:
     April 17, 2008 at 1:41 pm Hahaha…you’re funny Unreal_Investor. So you’re perfectly fine that “O” doesn’t provide any audited financial statements, trading reports, any details of their fee structure, or the salary (and other benefits) given to DS?Wow, I guess you must like the long…LONG…delays in payments too, and the little communication coming from “O”. Well, in that case Unreal_Investor, I think you are a wonderful client.I’m starting a brand new investment club that I think you should come and join. I’ll pay you 500% every month and your principal and interest is all guaranted by me…see you can’t lose any money!

     Invest with me, and I’ll make you rich in just a few months. Only don’t ask me what I’m investing in, or where you’re money is going, or how I’m spending it, or who I’m paying…or when I’ll be paying…or if I think I’ll be paying…or what I’ll be paying you with! So, what say you? Are you interested?

259. RedP Says:
     April 17, 2008 at 1:48 pm #1300 Unreal invetor
     We don’t need an interim gov’t. Super Dave needs to get sanctioned by FSC then the banks cant say sh-t about anything and everything will be ‘cauppaseck’. Theorettically speaking of course.
     Again, Super Dave, where are you?!
260. RedP Says:
     April 17, 2008 at 1:54 pm #1303500%/month ???!!! Merc. Vape., I’m all in !!! LOL LOL
261. unreal_investor Says:
     April 17, 2008 at 1:56 pm What’s next, proof that God exists, soon you going come with church is a scam, take from the poor to buy pastor a prado and big house in cherry gardens… When money was flowing, I never hear nuh call fi financials, now everybody wah see it. See why dem seh black man nuh like help out black man…
262. Mercury Vapor Says:
     April 17, 2008 at 1:59 pm Thanks RedP, glad to see you want to join. Yes, I have my first victim…er, I mean client…yes client.I hope you don’t want any transparency though…cause you know…that’s not my thing! I like things nice and shadey…the shadier the better I always say! LOL!!!
263. RedP Says:
     April 17, 2008 at 2:01 pm Just a thought.
     My sister in law is doing a 12 week course on banking and finance put on by IMP. She said it is very rough going and alot of cramming, however, when she passes she can be licensed by FSC to deal stocks/bonds/securities etc.
     She can start her own club and not have to worry about authorities breathing down your back about wether trading in Fx is same as securities.
     Perhaps Super Dave needs to take a break and do said course.
     Just a thought anyway
264. Mercury Vapor Says:
     April 17, 2008 at 2:03 pm I hear you Unreal_Investor, that’s a good point.
265. OneJam Says:
     April 17, 2008 at 2:23 pm Bail refused for CH and brother …… Go back to JAIL.
266. DH Says:
     April 17, 2008 at 2:29 pm Kind of agree with Unreal_investor, about transparency and balance sheets with regards to O,
     DS never solicited money from people nor did advertised, people heard by the way and believed he had the ability to provide gains of 10% monthly. Now if he was me and me know I was true, mi wouldn’t comment any further on the situation, the only communication link I would provide is away for people to get back money and close accounts,
     DS does not need us we need him.
     Mark U!!!!!!!! if he provided transparency and balance sheets and everything looks good, mi would a sell mi house, mi car dem, mi madda house, mi grany lan a country, mi wife, mi picny dem, hoops mi cant sell dem and I would sleep comfortable at night.
267. RedP Says:
     April 17, 2008 at 2:30 pm #1306 Unreal InvestorMy pastor drives a Prado (not a new one) and he lives in Norbrook. I do not consider him a thief. In fact he is a man that I greatly admire.
     I think that I can speak for the majority of us on this blog by saying that we do not believe that Super Dave is a thief/conman.
     What we are saying is that the least he can do is come out and say whappen dawg, this is the position reh reh etc. The truth and nothing but.
     Listen mi, a yard we de and you know dat life nuh pretty. you have to work damn hard to get ahead in life, 70 times harder if you convert it to US.
     So when you have your hard earned money tied up,you cant touch it, nobody not telling you anything, some paople are in real need and you expect them to not get frustrated?? Where do you live?? Lah Lah Land??
     Come on buddy, wake up.
268. Oneil Says:
     April 17, 2008 at 2:37 pm re 1311DHU really funny, but hell ,i agree . if had satements to prove he is for real i would do the same lol
269. UpNawt Says:
     April 17, 2008 at 2:52 pm Mi nuh si no tawk bout MD. It ded?
270. unreal_investor Says:
     April 17, 2008 at 2:54 pm DH lol… RedP, maybe I should become a pastor, seems like the perks are good. (lol) You seh that you don’t belive seh DS is a tief so wah you a fret fah? If him was a tief him could a gawn weh wid yuh money long time, him nuh short a cash and him know bout banking procedure. I see you a talk bout license with FSC, I guess JMMB pick him up off the streets and have him deh a si down fi 12 years nah duh nuttin. If yuh money gawn, it done gawn already, forex is liquid, no assets fi sell and mek back yuh money…
271. Mercury Vapor Says:
     April 17, 2008 at 3:04 pm Re: Post 1311DH said: “DS does not need us we need him.”Ok, if DS is a great trader, he could just trade for himself and earn a decent income. But by taking on clients he can earn a lot more money. So I would say it is in his best interest to have clients.

     Now, how much money DS makes is not known, because “O” doesn’t tell us. If fact they don’t tell us much of anything…how many people are employed by “O”, the salaries of DS, or WS, or anyone else for that. Also, they are making money on our accounts…DS is not working for free…but how much…well, no one knows?

     Whether “O” was current or late in their payments makes no difference to me. I would like to see audited financial statements, trade reports, the fees that they charge, the real profit and loss that they make every month, etc. I know many of you would not like to see those things, and thats fine…but I would like to see them.

     Think about this for example, this month “O” pays interest to your account. Now, lets assume that they have made a trading profit for this month. They have to subtract their fees since they have to pay:

     1. The currency traders (like DS) salaries.
     2. The salaries of other employees of “O” like administrative staff and customer service staff.
     3. The rent/lease on their offices, plus the utilities (electricity, water, telephone, internet accesss, etc.)

     Now “O” I suppose will subtract their operating costs from the profit and then give you the remaining…which would be the 10% (for example). But how much do they take? What is the real profit for the month? Well, I would like to know, I like transparency.

     Peace

272. RedP Says:
     April 17, 2008 at 3:08 pm #1315
     Nutn nuh wrong, If I was a Pastor mi woulda want a crissas too!! Anyway, I do have faith in Super Dave, Im just saying that a little clarity would be nice.
     Question though, Since he was with JMMb, does he have the credentials to get licensed and if so, why doesnt he?
273. Mercury Vapor Says:
     April 17, 2008 at 3:12 pm One last thing…strange, “O” can pay money to sponser the Air Jamaica Jazz and Blues Festival, they can donate 1 million dollars to charity in Jamaica, they can payout average of 10% a month in interest (or gains)…but they can’t spend money to hire a reputable accounting firm to provide their members an audited financial report.I’ve said it before…”O” is not some little club with a dozen members were we know the forex trader personally. “O” has hundreds…maybe thousands of members…they are managing millions…maybe billions of dollars…plus they are connected to numerous feeder clubs!
274. jk Says:
     April 17, 2008 at 3:17 pm supposed olint wants to keep their financials private? have any of u thought of that.
275. DH Says:
     April 17, 2008 at 3:27 pm “Now “O” I suppose will subtract their operating costs from the profit and then give you the remaining…which would be the 10% (for example). But how much do they take? What is the real profit for the month? Well, I would like to know, I like transparency.”If a statement in need to prove he is not a scam well he does not have to give so much information, all you need fi know is tha that client fund is equal to or less than the trading account nothing more.
     Because if him a trade and a make 300%per month on clients money and him a pay 10%per month to the clients then if the client think them should a get more, then them go get it somewhere else. How much him make no have nothing if do with U, U just want if know say you a make yours.Peace
276. RedP Says:
     April 17, 2008 at 3:33 pm FR’s been very silent, where is he ?? Thought he’d be jumpin all over us by now.
277. OneJam Says:
     April 17, 2008 at 3:36 pm In my humble opinion, O financials are private, since O is a private company. All that is really req’d is a monthly trading reports/audit trails on invested funds showing only % estimated or actual gains or losses.In my simple head this would be adequate to prove real trading is happening and it gives general info, nothing specific that gives up too much strategic info. Possible a report/audit trail for even every 2 months or every quarter.Understanding that is is not a requirement but to help. Actually if WS used this as a tool to indirectly win the minds of new customers worldwide. Remember if O does this right his market could be the world, Think about this WS, its an opportunity, but u have to get your customer service up to int’l standards.
     OneLove
278. cash Says:
     April 17, 2008 at 3:38 pm i see all the attention is now on olint and a lot of speculations going on. just wanna shift the attention to mdaisy has anyone been able to reach their customer service.like the other clubs i see where persons have been able to reach someone who is able to give a feedback.communication is key in doing operating a business of this magnitude to which neither of these clubs seems to realise
279. OneJam Says:
     April 17, 2008 at 3:38 pm DH type faster than me, we saying the same thing. I was doing me spell check …..LOL.
280. Ronnie Says:
     April 17, 2008 at 3:50 pm Investors hire the fund manager. DS makes money by charging a fee or percentage of the profits made on the investor’s money. The person doing the hiring is entitled to know how much he is paying the employee. This is customary and the fee structure and amount paid is usually disclosed.However if you were willing to invest with Olint knowing full well that there was no disclosure and you were willing to accept it because the money from those returns look nice… Why the hell you think DS should give you disclosure now just because you ketch a fraid and tink sinting nuh look right?You can either stick with him because you continue to have the same blind faith with no disclosures. Or if yuh ketch yuh fraid tek you money and gwaan bout yuh business. The only problem now is yuh gwaan ketch the dickance fe get it back right now. Nuff long wait fe dat.
281. Marsha Says:
     April 17, 2008 at 4:01 pm Hi Blog Friends,What’s a Prado? What vehicle is it similar to? Just curious never heard of it. Thanks.
282. RedP Says:
     April 17, 2008 at 4:07 pm I am not asking for audietd reports and fee structures etc. I just want somebody to come and tell me what the hell is going on. My batty is in a vice, i need some of my funds,not all. Have no desire to close account,just need to get out of a tight spot. so, when your in my position(and i think I’m not alone), it would be nice to know what the backside is happening!! What is so wrong with that.
283. DR Says:
     April 17, 2008 at 4:41 pm Mercury said:One last thing…strange, “O” can pay money to sponser the Air Jamaica Jazz and Blues Festival, they can donate 1 million dollars to charity in Jamaica, they can payout average of 10% a month in interest (or gains)…but they can’t spend money to hire a reputable accounting firm to provide their members an audited financial report.**********************************************************
     You mean niether “O” or “MD” can afford to pay a good customer service company to do answer phone calls and emails….
284. GetRich… Says:
     April 17, 2008 at 4:44 pm Can someone explain to me why I just called one of the 3pm-10pm MD numbers and got a message bout number is temporarily out of service for non-payment of bill? The other number says mailbox full as usual. Customer Care sucks!!!
285. Lisa Says:
     April 17, 2008 at 5:34 pm i find this site interesting my first time here but aside from all the witty banter i need to know the following.Is may daisy dead or on life supportIs Olint in problems or is just a bottleneck based on happenings(ie run).

     is worldwise a good third option.

     when will carlos Hill confirm that he has no money or at least say publicly “oonu nah get back nothing a baay”

286. Opportunity Says:
     April 17, 2008 at 5:45 pm Ahh Marsha,You know how Jacans stay. The vehicles down there we neva hear bout dem yet. Anyway…the Prada is similar to what we know as the Lexus GX.
287. Fedup NOT Says:
     April 17, 2008 at 5:53 pm Get Rich @ 1329, I know what you’re going through, i’ve been right where you are. Try those 492 numbers at 8:58AM, they start answering at 9am you will get through to Paul who is very helpful, however I think he may be alone, cause when I do get through to him there are always phones ringing endlessly in the background…all going unanswered until he is through with the call he’s on. Be persistent.
288. InForTheLongHaul Says:
     April 17, 2008 at 6:23 pm Marsha #1326http://www.batfa.com/new_car_toyota_land_cruiser_prado.htm
289. Mercury Vapor Says:
     April 17, 2008 at 6:31 pm Re: Post 1326Hi Marsha, here is a picture of the Toyota Prado:http://www.ramexrentacar.com/auto/toyota_prado.jpg
290. danews Says:
     April 17, 2008 at 6:32 pm @ Red Pto quote you—-
     I am not asking for audietd reports and fee structures etc. I just want somebody to come and tell me what the hell is going on. My batty is in a vice, i need some of my funds,not all. Have no desire to close account,just need to get out of a tight spot. so, when your in my position(and i think I’m not alone), it would be nice to know what the backside is happening!! What is so wrong with that.

     —

     DS has answered the question..

     folks he has answered the question in a comprehensive way..

     he has said that there will be a due diligence being done that will end by May.

     why aree people going on like Olint has not provided an update ?

     you may not believe it, that is a different story.. then you can stop calling him super Dave and call him super liar and beat down his door for your money..

     would you want a liar managing your money….

     its now a matter of trust.. do you trust David Smith in investing your money ?…. why then not trust his excuse ?.

291. JohnDoe Says:
     April 17, 2008 at 6:32 pm London Bridge Is falling down,
     Falling down, Falling down.
     London Bridge Is falling down,
     My fair lady.Time for the Office of Disaster Preparedness to started getting ready….
292. Mercury Vapor Says:
     April 17, 2008 at 6:38 pm Haha…InForTheLongHaul! You beat me by a few minutes. Looks like you think kinda like the way I do!
293. unreal_investor Says:
     April 17, 2008 at 6:44 pm I always see pon this site, posters saying how they value the ‘detractor’ input and why cant we all get along BS, I hope JohnDoe post 1336 is that valuable input yuh a talk bout…
294. DH Says:
     April 17, 2008 at 6:47 pm JohnDoe,
     Make sure you are not standing under it
295. Mercury Vapor Says:
     April 17, 2008 at 6:53 pm InForTheLongHaul, check out the new Toyota Supra!http://www.caradvice.com.au/2926/toyota-supra-update/IT LOOK WICKED!!!
296. unreal_investor Says:
     April 17, 2008 at 7:02 pm That supra maaaaaaad!!!
297. JohnDoe Says:
     April 17, 2008 at 7:03 pm @1338 – My point is:Thing are really bad now… time to look on the contingency plans. If you investing money, especially in high risk, and you have no contingency plan in place, should something go wrong with the investment, that is rather stupid. What I am saying time to dust off the contingency plans, see what the recovery plan is…. Hope that explains….Just like how me just hear a woman seh she re-mortgage her house and get $300K and put in cash plus and all now don’t get one cent. I guess she never ask herself, “What if”?
298. Easy Street Says:
     April 17, 2008 at 7:19 pm How is F1 doing? Are the consistent returns followed up with consistent encashments? Anyone having any problems to speak of ? Also, if they are doing well, let us know. This blog seems to be filled with constant negativity, it might do us all some good to hear some praise from those that are performing.
299. DH Says:
     April 17, 2008 at 7:27 pm Easy street
     U might hear that a scam too right JohnDoe,Fr,Cindy
300. InForTheLongHaul Says:
     April 17, 2008 at 7:46 pm Mercury vapour #1340LOL. Great to look at but not my style. Planning on using some of my gains from ‘O’ to get a Toyota Landcruiser hybrid later this year – doing my bit for the environment.You think I should rethink my finances? lol.
301. InForTheLongHaul Says:
     April 17, 2008 at 7:57 pm JohnDoe #1342You echo what quite a few of us have been saying.
     Quite honestly, while I have sympathy for many who took a chance with C+ and lost I cannot understand the utter stupidity of anyone who would risk moer than likely their major asset, their home in any high risk venture.I should only be a small part of investment portfolio.I had to seriously dissuade a friend from putting money from sale of his house into ‘O’. He was going to roll it over, pay rent for a while, and hope to double his money.

     While I have faith in DS and do not believe that he is running a ponzi scheme, no one should do such a risky thing like that. Gains are not guaranteed.

     As for C+, I really think most financially astute people knew that the guaranteed returns were in no way viable in the long term. Business model spoke for itself.

     Lesson to be learned, before investing, make sure you fully understand what you are investing in and how the profits/gains are being generated. Then you can make an informed decision and decide whether or not you are willing to accept risks associated.

302. Mercury Vapor Says:
     April 17, 2008 at 8:05 pm Re: Post 1345InForTheLongHaul, I hope everything goes well when you try to get your gains from “O”. Maybe things will cool down by the middle of the year, and we’ll look back at this and wonder why we were all so paranoid…bwoy, I hope! Nice to see you’re thinking of the environment too…tell me something, do you live in the U.S.? Because they don’t sell hybrid vehicles in Jamaica, or do they? Does anyone know?
303. DW Says:
     April 17, 2008 at 8:11 pm Mercury V, I am not for sure,but mi wouldnt be surprised cause every ting dey a yad.
304. Futures_trader Says:
     April 17, 2008 at 8:48 pm mortgaging you house and then putting all that money into these risky schemes is crazy. Seem as though people were overleveraging themselves to the max.I hope and pray that these people have GOD because they going to need him.
305. JohnDoe Says:
     April 17, 2008 at 8:50 pm @DH 1339 – Thank you for your advice.. “Make sure you are not standing under it”.How should I respond to your advice? 3 takes…London Bridge Detractor: Well you see, if the bridge falls down and you happen to under it, it could crush you. Also you need to be far away from the bridge, if it falls, as flying debris could kill you or at least hurt you. Based on the age of the bridge and lack of servicing, the signs are telling that it is going to collapse. We can’t get an independent audit of the true status of the bridge, the cracks are appearing, things not right and the banks are eroding. Other bridges over the years, showed those signs before they collapsed, so stay away from the bridge.

     Some London Bridge Supporters: Well bridges can fall down anytime, so I am aware of the risk. I am gambling that this one will stand up. If it falls, I would not be surprised. I will wear a hard hat and protective gear if anything. I will hope for the best.

     Most London Bridge Supporters: Nothing no wrong with the bridge. Is bad mind people bad mind. This bridge solid as a rock. Some people want to enjoy the bridge for themselves and no want nobody else use it. Never mind the lack of servicing and the poor service we getting from it. The cracks soon fix, do no watch that. We just having a problem with the banks. We a stay on the bridge , under the bridge and beside the bridge. We don’t need no hard hat. What is that?, that is for coward. Audit? We thinking about the Audi T? If your afraid a water stay out of the river. We in for the long haul.

306. cookie Says:
     April 17, 2008 at 8:56 pm hi all. Anyone get any money from lewfam this month
307. Mercury Vapor Says:
     April 17, 2008 at 9:00 pm Re: Post 1350HAHAHAA!!!! John Doe, that was really funny! That’s the smartest post I’ve read on this blog all week. Thank you so much for that, man, that’s why I read this blog!
308. InForTheLongHaul Says:
     April 17, 2008 at 9:32 pm Mercury Vapour #1347Where I am that vehicle not available (hybrid) only Prius. I guess the diesel is just as good. I am keen on getting a hybrid though. Might go for something smaller. They are supposed to be efficient when you have lots of stop and start though no major benefits on highways.I live in the UK and the news tonight did not mention London Bridge falling down though one day it could so hard hat and protective hat ready jus in case. LOL
309. overchill Says:
     April 17, 2008 at 9:49 pm Isn’t London bridge the one they sold off and shipped to the other side of the planet?http://en.wikipedia.org/wiki/London_Bridge_(Lake_Havasu_City)jondon, dont you have anything better to do with your time, I see your useless drivel on a lot of these blogs.
310. Marsha Says:
     April 17, 2008 at 9:49 pm Thanks Opputunity, InForTheLongHaul & MercuryVapor!The Toyota Prado is a nice SUV. It also looks similar to a Toyota Sequoia.
311. Wan Spec Says:
     April 17, 2008 at 9:52 pm Carlos Hill in jail until at least May 14th to rahtid!http://www.radiojamaica.com/content/view/7361/26/
312. Wan Spec Says:
     April 17, 2008 at 10:04 pm More on the court hearinghttp://www.radiojamaica.com/content/view/7376/26/
313. InForTheLongHaul Says:
     April 17, 2008 at 10:05 pm Overchill #1354.You are correct. They sold the original and built another larger and structurally superior one its place.Dont make John Doe worry you. The mans time is his own. If he feels that posting comments on blogs is the best use his precious hours, who are we to want to stop him?
314. Livin n Babylon Says:
     April 17, 2008 at 10:29 pm Easy Street #1343 – F1 is doing quite well. They have (or had) a “gold” program that was essentially a gateway to Olint, but their “platinum” fund is managed by a friend who is essentially a protégé of David. They are doing so well that they needed to post a notice making it clear that they are not guaranteeing 15% per month, because just like O people started to say that they were promising 10%/month. F1 is solid.
315. RedP Says:
     April 17, 2008 at 11:00 pm #1335
     Danews. you are perfectly correct, a guess pressure jus reach me. Nuh watch nutn yu hear.
     Peace.
     RedP
316. Stress now Blessed Says:
     April 17, 2008 at 11:23 pm WHAT IS HAPPENING HERE!Johndoe-
     You don’t have nuh small clothes to wash? Use that very brige to find your way out of here. You are making me real uncomfortable in my own home now! ENOUGH is ENOUGH NOW!Keisha – I see you have asked me to email you, I will in a bit, just give me a few.

     Inquiry about MD- I spoke to a rep today; however, it is difficult to get through, I am assuming volume versus c/s reps.
     They are somewhere between Feb 1 and 15 now. The promise is to update accounts over this weekend AGAIN.

     Mercury V – What has gotten over you and this “O” showing proof -Listen, I know you are an intelligent man, and I don’t need any proof of that. The same reason Lewfam has not provided any proof, is the same reason O don’t provide none – and I don’t here nobody asking for proof of Lewfam (because they are still paying)

     None of us have ever seen a toothache, but when we have one we know – because we feel it. When you have a toothache it is usually because of a decay; however, the pain sometimes don’t last forever even when you don’t go to the dentist it sometimes just go away. Doesn’t mean you don’t have the decay, it just not hurting now.

     We have never seen proof of DS trade or papers of profit, but we feel it by the weight of the monthly gains in our pocket. You are not feeling any weight in your pocket now, but it doesn’t necessarily mean that it is gone, it is just not weighing down your pockets now. “MAY” we all just wait!

317. ForexGuy Says:
     April 17, 2008 at 11:51 pm I wish people would just give DS the benefit of the doubt and wait till the end of May! He has always come through for us in the past and I see no reason why it would be any different now.On a side-note, could you all stop asking why FR has not been posting. I’m hopeful he went over and that’s the last we’ll hear of him!
318. Stress now Blessed Says:
     April 17, 2008 at 11:55 pm ForexGuy -That was cold! ha ha ha ha haDon’t you see him back in the form of JohnDoe? Same ting.
319. Easy Street Says:
     April 18, 2008 at 1:03 am I feel John Doe should exit this blog. It seems he has nothing to do with his life but make others as miserable as he is. Not once has he repsonded in a positive manner.People, please do not allow these “wanta bees” who probably have a net worth of 100.00 to constantly upset your stomach.See for yourselves, not one post of John Doe has anything postive to say.

     As the old saying goes, “misery loves company.”

320. Livin n Babylon Says:
     April 18, 2008 at 1:41 am Stressed Will Be Blessed – It’s just a waiting period for all of us. Cash flow problems are abundant and not uncommon in business. I spoke with Sean McDaniel at Olint and the story I received from them is the same that LewFam is telling (which I realize doesn’t prove anything), but again when you normally move 20-50M per month (and this is your understood business mode of operation) to then move 300-400M in a single month is a problem. I find it a bit troubling that people insist on telling everyone in the forum that this isn’t a problem, because banks have lots of money, blah, ba-blah… That is patently absurd – banks do not have lots of money, these guys are leveraged to the hilt and invested lock, stock, & barrel. Any uncharacteristic move of that much capital is disruptive and under the Patriot Act it does warrant an investigation.Everybody needs to lighten up – it’s not as though anyone is going to go down to Turk Caicos and demand their money anyway. So, to chime in with some recent admonishment, just wait until May and trust that the guy is a real human being that doesn’t want people showing up at his house in Turk Caicos demanding their money. The guy is too vulnerable and well known to run and too well respected to be anything but the facts, a talented forex trader that knows how to make money in any market. Talk to those closer to the situation like F1 Investments and especially LewFam. Right now the company has to do what they are told or not continue to trade, which would end a very beautiful thing for most of us in this blog.PS – For those of you trying to figure out the 16% March, unless some one on Plan B can correct me on this one, I think David just simply traded the fund for both Plan A and Plan B the same, which is obviously easier to when cashflow is stabilized. Again, if I were David I would tell everybody, all withdrawals are an end-of-month transaction and to deal with the matter. Steps have to be taken to streamline the operation and simplify accounting.

     PEACE! Be still…

321. DH Says:
     April 18, 2008 at 2:00 am Livin n Babylon
     Actually The B plan payed 20%
322. DW Says:
     April 18, 2008 at 2:03 am For all the “naysayers” LONG LIVE OLINT and the DAVID SMITH team.
323. Stress now Blessed Says:
     April 18, 2008 at 2:09 am LNB
     O’s B account paid 20%.I totally agree with you.Banks are sending out notices about Home Equity Lines of credit. HELOC is given based on your mortagage balance and the value of your home.

     Many banks have sent notices to home owners informing them that the $100,000 line of credit that was granted last year May is frozen, and they will not be able to access for further use. Simply because of the housing crisis where some homes were bought in the midst of the bubble and have since lost its value due to the artificially inflated price in the first place or the bank just simply reducing its risk.

     I totally agree with you LNB, let us wait until May or even June if it boils down to that, and if at that time we have nothing, then we revisit what our recourse should be, can be etc. etc. O has never asked for time to pay.

     I understand many ppl will be hurt by this, but again- there is nothing we can do at this time. If O is in a financial bind, and give us a DD excuse to trade himself out of it – so what? There is nothing we can do but wait, if waiting means we will get our money, only later- its all good.

     There will be absolutely NO transparency from O or any other club anytime soon, so all those ppl who want transparency, can go look through a clear glass and stop looking in a mirror

     MD has one of the poorest CS you can ever find, but I think they have resorted to “you either grow with the pain, or leave without gain” attitude. Dem not taking us on, and they are doing what suit them and what they think is in the best interest of the club. With that said, it is not right, but what can we do? Grin and bear it, or close your account.

     Peace my brother- I think we read the same book, even if it is “FICTION”

     Much love LNB!

324. DR Says:
     April 18, 2008 at 8:29 am Cash Plus has NO MONEY in Jamaica….really?1) So tell me something, how are the workers for his security company that is so Soverign…how are they being paid?2) How are the lawyers being paid?
     3) Did’nt the football community get money up to recently?

     http://www.jamaicaobserver.com/news/html/20080417T230000-0500_134681_OBS_CASH_PLUS_HAS_NO_MONEY_HERE_TO_REPAY__COP_TELLS_COURT.asp

325. chrisj Says:
     April 18, 2008 at 10:08 am Hail to the people,
     I requested two draws from MD back in January totalling 500g (I own two accounts) and they just last week Friday paid me only half of one of my requests. I don’t know what the reasoning was behind that action and though I was disappointed at the amount, I was quite happy to receive anything after having started to write them off. They offered no communication about the reason the funds I requested were not delivered and they even updated my account (not indicating the balance as a pending draw.) I don’t undestand.Of course it’s only voice mail, so I’ll have to justy hug it up for now.
     I spoke yesterday with a Friend who is a senior exec at FSC and she explained to me that Capital Blue had given them an imporession that they would play by the FSC’s rules but they later found out that they were doing their own thing so they quickly moved to add their name to the list of the “famous”.
     It would seem to me that Maybe (Donovan) he really is not related to someone at FSC if things are going down this way for him.
326. jeremiah Says:
     April 18, 2008 at 10:49 am “I guess MD has really been doing their due diligence as they had said huh, as I now see a number of my friends scampering to send in the docs they should have since Nov……I hope its not too late. Funny, people spend so much time cussing and criticizing yet their house is still not in order. Anyway things seem to be happening there so I’ll just keep on keeping on”.Mercury thanks for the positive feed back on the last post.Friends keep praying great days are ahead. With our prayers and God’s help the different clubs will weather the storm.
327. HD Says:
     April 18, 2008 at 11:07 am On January 15 I mentioned the stock POT on the Toronto Stock Exchange (TSX/TSE) . The Stock was trading between 120 and 140 at the time. Today it is now over $200. ( I have share in it)Last week I mentioned the stock FXI on the Toronto Stock Exchange (TSX/TSE). It was trading at $1. Today it is at $2 down from $2.50 on Wednesday. ( I have shares in it)In general the commodities, Gold, and Oil stocks should do well. Some good tech stocks (and safe) would be RIM and Google. The experts are saying that there are some great buying opportunities for Banks and Financial firms. Some billionaires are actually gathering money to buy banks outright.

     In my “New Year” post I mentioned that this might be a good year to trade some stocks. Do your own research and analysis before investing.

     FYI

     I still have money in WW – sticking with my plan and taking some of my profits on regular basis

     I also mentioned in my “New Year” message that we all need to learn how to trade Forex for ourselves. I am now a live FX trader. I am struggling but I am learning. Today I am up approx 9% for the month (not bad for a beginner I think).

     Good Luck. Be smart and invest wisely.

328. HD Says:
     April 18, 2008 at 11:10 am FYI….the bastards (WW) just sent an email announcing additional telephone lines.
329. Patricia Says:
     April 18, 2008 at 11:27 am HD
330. HD Says:
     April 18, 2008 at 12:37 pm Hi Pat … yeh I can only get my head above water on weekends to read the blog and post…Cheers
331. rexton gloudon Says:
     April 18, 2008 at 1:18 pm I’m curious, what happens when those who requested funds from their respective schemes do not get same come may of end?
332. wardog Says:
     April 18, 2008 at 1:20 pm NCB get go ahead from supreme court to close O account in ja
333. DH Says:
     April 18, 2008 at 1:32 pm Answer back “O Filed a injunction preventing NCB from closing their account until the appeal is heard”
334. wardog Says:
     April 18, 2008 at 1:37 pm only delaying what must happen.
335. Jah Know Says:
     April 18, 2008 at 1:38 pm Tell me DH how long is this injunction. Because if them account people who benefiting from the likkle payouts taking place would lose out. Also since they cannot get any fund off trading platform then that simply means no monies can neither be wired.
336. wardog Says:
     April 18, 2008 at 1:38 pm MLC seem to have won….
337. unreal_investor Says:
     April 18, 2008 at 1:44 pm MLC may eventually win the battle but we club members will win the war…
338. DR Says:
     April 18, 2008 at 1:56 pm So what if they got money from “C+” or “O”?http://www.radiojamaica.com/content/view/7389/26/
339. bronxny Says:
     April 18, 2008 at 2:03 pm HD
     If you are looking into commodities, do due diligence on uranium. One possible is U on TSX. It is way down from the highs, don’t know why. The thought is that we will have more nuclear power plants esp in China. Mek sure you understand their busn plan before jumping in.
340. Mercury Vapor Says:
     April 18, 2008 at 2:52 pm I know this has nothing to do with Investment Clubs, but I had to ask…does anyone here use the Magic Jack?http://www.magicjack.com/1/index.aspIf so, does it really work? Is the voice quality very good?

     Thanks

341. OD Says:
     April 18, 2008 at 3:20 pm I have been out of the loop for sometime. Trying to play catch up. Man, you guys have been blogging away. DR, I agree with you – What are they going to do if it is confirmed that specific candidates received funding from any of the clubs? I guess, they will be asked to make repayments LOL.I have been reading the articles surrounding CH’s arrest. They have stated fraud and money laundering. I dont think that these assertions should be made without concrete evidence. Issuing cheques with no money in the bank, I agree, constitues fraud. Can we see evidence of money laundering? I guess in time things will unfold. If it is true that large sums are being held overseas, could it be that CH had no choice but to move funds overseas because of what was happening within the FSC and the commercial banks. Let us not be too quick to pass judgement. I am an investor and I may have lost my money, but I question the arrest and the motive behind it. I am convinced that if C+ had been left alone, It probably would have been arround for a few more years. My gut feelings tell me that CH started transferring money overseas when the FSC and the banks started coming down on him. I would like to hear from this man.
342. Ronnie Says:
     April 18, 2008 at 3:20 pm The magicjack does work and the voice quality is good. Computer needs to be on to receive and make calls. Regular phone plugs into magic jack to make and receive calls. Option to use the computer speaker and microphone too, useful if you are traveling with a laptop. Modest computing power is sufficient unless you keep a lot of applications running, in which case you will need a faster computer for good voice quality.
343. Mercury Vapor Says:
     April 18, 2008 at 3:30 pm Thanks Ronnie, that was very helpful.
344. Mercury Vapor Says:
     April 18, 2008 at 3:34 pm Re: Post 1387Hello OD, this is a good webpage to read, just for general knowledge. Please check it out if you haven’t already:http://en.wikipedia.org/wiki/Ponzi_scheme
345. Kaye Says:
     April 18, 2008 at 4:28 pm Court denies OLINT extension on injunction against NCB
     Friday, 18 April 2008
     A last ditch effort by attorneys representing the unregulated Foreign Exchange traders OLINT Friday morning prevented the National Commercial Bank (NCB) from closing its accounts.OLINT had been granted an injunction blocking NCB from closing its accounts until a lawsuit it filed against the bank was heard.Lawyers representing OLINT went back to court Friday seeking an extension of that injunction but High Court Judge Roy Jones refused to extend the injunction stating that there was no merit in any of the claims that OLINT was making against NCB.

     NCB’s Attorney-at-Law Dave Garcia told the RJR News Centre shortly after the ruling that the Bank will be closing the accounts.

     “After the ruling, an application was made by OLINT for an injunction pending appeal (but) Judge Jones refused that injunction and we’re in the process of closing the accounts,” he said.

     But minutes after, lawyers representing OLINT rushed to the Appeal Court.

     OLINT’s attorney Georgia Gibson-Henlin told our news centre that NCB cannot close the accounts before coming back to the courts on Tuesday as they were granted an interim injunction.

     “We have filed an appeal and we’ve also filed an injunction pending the hearing of that appeal,” she said.

     She added that on Tuesday, they will apply for a longer term injunction pending the hearing of the appeal of Judge Jones’ ruling.

     NCB is arguing that OLINT is unregulated and has consistently failed to submit its audited financial statements as required by law.

     For its part, OLINT said NCB is in breach of the Fair Competition Act.

346. Kaye Says:
     April 18, 2008 at 4:29 pm Driva , time to archive
347. unreal_investor Says:
     April 18, 2008 at 5:06 pm Well its time for people to get offshore banking savvy…
348. Jcan Says:
     April 18, 2008 at 5:47 pm Thank God its Friday! I can finally breathe….looking forward meeting up with friends/dominoes/chess/jerk fishTrying to play catch up going through the many posts from the important investors contributors to this blog… …I noticed that “S/Blessed” not in need of patient anymore…just patience to deal with a potential patient……Have a blessed weekend everyone and let no one robs you of your joy….’one moment of anger is one less moment of happiness.’….
349. Pip Unit Says:
     April 18, 2008 at 6:31 pm Lewfam is now saying 1 month when you submit for encashemnt. Good Times LOL
350. Mr Info Says:
     April 18, 2008 at 6:45 pm Yes, but Lew Fam is following through with their encashments. Not one person has complained about not recieving encashments. The DS situation may have slowed things down from 2 weeks to 1 month, but everyone is recieving their funds. Go Lew Fam!
351. cookie Says:
     April 18, 2008 at 7:48 pm I made ana encashment for lewfam from april 1st and has not received it yet. They say by the 21st but I am worried it may not be till the end of april to early may. Anyone else having the same concern or issue
352. cookie Says:
     April 18, 2008 at 7:58 pm I am curious are all companies and businesses in jamaica are required to have a financial statement to be able to open a bank account….? I am dumb about such stuff
353. Stress now Blessed Says:
     April 18, 2008 at 10:18 pm Happy Friday Everyone!
354. ForexGuy Says:
     April 19, 2008 at 12:49 am Stress, is that your way of marking the posts for easier finding later?
355. Stress now Blessed Says:
     April 19, 2008 at 1:01 am ForexGuy -
     What are you referring to, mi Not because you see mi get vex often, mi is quite a happy personyou seettt?
356. Rosy Gray Says:
     April 19, 2008 at 4:13 am ALL CLUB MEMBERS SHOULD BOYCOTT NCB AND SUPERPLUS SUPERMARKET FOR REAL BECAUSE MLC IS RUNNING JAMAICA – NOT BRUCE G – POOR THING
357. Oneil Says:
     April 19, 2008 at 6:27 am re1401I am willing to boycott NCB, look a cash plus, which bank is gonna accept their payments if NCB has blacklisted them.The same will happen to OLint.
358. DR Says:
     April 19, 2008 at 7:08 am Rosy Gray:-I understand your pain, but you would have to boycott alot more. For example:, Please decode:While “Looking in, Looking out” you might start to “Look even better”…especially when looking at the “FLOWing” waters but then we really can’t avoid the “Associates” who are “Medical”. Can we?
     I wonder if there is a “General Advantage” if you insure your car there? Rosy, I don’t have all day, do you want me to continue?
359. DR Says:
     April 19, 2008 at 7:16 am Ppl, get prepared, as far as I am concerned it is just a matter of time before “O” accounts are closed.To be really honest, it’s just a matter of time before ALL forex clubs accounts are closed.The banking association & the regulators wants to get rid of all clubs! If you think is joke I am making, wait to see how long it is going to take “WW” to get registered? and what will be the requirements?

     Remember if the clubs exist, there won’t be any reason to borrow money. For example, one of my best friends is now a Jamaican dollar millionaire, but in Feb 2007, that person had less than Ja$300,000 to their name. See my point…. The banks HATE THAT.

     (Between me an you, I think the current government want the clubs to exist)… I CANNOT tell you why on this blog, but Think & Check. Remember who attended the Foundation Launch…hahahahah

360. DoItUrSelf Says:
     April 19, 2008 at 8:44 am Hi FedUp
     How long did it take for u to get your daises…I have been waiting since March 14
361. Fedup NOT Says:
     April 19, 2008 at 9:26 am Doityourself@995, I requested my daisies on Jan 21 and got them April 11.
362. DoItUrSelf Says:
     April 19, 2008 at 10:18 am Are you kidding FedUp???
363. Easy Street Says:
     April 19, 2008 at 10:44 am I hear Capital Blu is on the rise ? Anyone have any input.
364. Easy Street Says:
     April 19, 2008 at 10:46 am DR,You are speaking JA residents only? I doubt they can shut down the clubs that have moved outside JA jursdictions.
365. keekee Says:
     April 19, 2008 at 11:45 am can anyone say where WW accs will be moved to locally
366. wardog Says:
     April 19, 2008 at 11:49 am WW acc will be off shore.
367. JK Says:
     April 19, 2008 at 11:54 am but rbttt hasnt close their a/cs
368. DR Says:
     April 19, 2008 at 12:36 pm KeeKee:The head of “WW” told a few of us the other day, that JMMB, Capital Solutions and UGI finance is where they will be spreading the money they have left in Jamaica. I think 60% of their funds in off-shore.DoItUrSelf:

     I requested my daises mid-February, still have not received…. yes, it’s been a while but at least the DD is over.

369. JK Says:
     April 19, 2008 at 1:17 pm DR sounds like u know the chairman well
370. Realist Says:
     April 19, 2008 at 1:24 pm Seriously, too much greedy people out there. Oonu tek oonu hard earned money, put it in get rich quick schemes, then bawl when they crash. No bail out for oonu! lol.
371. JK Says:
     April 19, 2008 at 1:34 pm i always say only invest wat u can afford to lose in them tings but ppl jus feel seh is a all or nothing ting……..then now when them get nothing them go ballDONT GAMBLE WID UR LIFE SAVINGS SUH EASILY start small
372. Rich Kid Says:
     April 19, 2008 at 3:34 pm #995 – DoitUrself – you should receive your daisies by summer I requested mine Feb. 20 and I have not received it sooooooooooooooooooo pick a number….hush
373. DR Says:
     April 19, 2008 at 4:11 pm Easy Street 999:-No they can’t lock down clubs that are registered off-shore but I fear they can do other things…. Remember “The ENEMIES” will do anything to stop us form prospering.They may question cash remittances, they may block websites in the future, Did’nt a government do that to SwissC some time ago?
374. Realist Says:
     April 19, 2008 at 5:48 pm “Remember “The ENEMIES” will do anything to stop us form prospering.”Oh come on! You people are taking this “enemies” argument way too seriously. Nobody is out to stop you from prospering. Regulators and banks are doing what they are supposed to do – enforce/comply with the law, and protect citizens/investors.Nobody would have a problem with “clubs” if they complied with the regulations in place and were transparent in their dealings.

     You same people talking about “enemies” not wanting you to prosper will bawl for govt. to bail you out after these clubs crash and take your money with them.

     Wise up! Be smart about what you do with your hard earned money and don’t take foolish risks!

375. cookie Says:
     April 19, 2008 at 6:22 pm well the clubs could go offshore and the customers would have to get offshore bank accounts. HSBC has an offshore bank account minimum 10K US. For you US residents all you have to pay taxes to the irs of course. But doing this may be neccessary until Jcan gov’t sort out the legal and legislative frame work for forex, investment clubs etchttp://www.offshore.hsbc.com/1/2/international/how-can-we-help-you/why-bank-offshore-with-hsbc-international?WT.ac=HBIB_1501_PS
376. cookie Says:
     April 19, 2008 at 6:26 pm I m sorry there are several account for various openning amounts
377. Easy Street Says:
     April 19, 2008 at 7:09 pm Cookie,Tell me about offshore accounts. Have you invetsigated as to their relationship with teh invetsemnt clubs. This seems to be good solution.
378. Rich Kid Says:
     April 19, 2008 at 7:39 pm #1009…Realist…I see that you are a realist…that’s good. However, have you really wondered what the regulators are putting forward to these investment schemes to have them regulated – what really is the criteria for being licensed? They can’t put through the same rules as a bank being regulated – they need to modify rules to fit these investment schemes – dem a nuh bank.I have been in a number of schemes and big regulated institution (like Century in the 90’s) that have gone down and I have just gotten up, brushed off and shouted “NEXT!!!” I have most of my funds in MD and if dat pap dung too – mi a go move on again.Realist…..the typical “sensible” person will do the same thing I am sure. Some will of course, hire a lawyer to recover their funds – dat nuh have nutten to do with bail out. Of course you will have a number of persons looking bail out which is the same people who keep bawling for “justice” for every striking thing – we can’t do anything about them.

     Who is this forum looking bailout if the scheme you are in pop down??

379. forexrookie Says:
     April 19, 2008 at 8:11 pm AS I NEW MEMBER OF LEWFAM IM CONCERNED. HOW MUCH DEALING WITH OLINT DOES LEWFAM DO. ? CAN LEWFAM SURVIVE WITHOUT OLINT.?
380. Easy Street Says:
     April 19, 2008 at 8:32 pm ForexrookieDo not be concerned about Lew Fam, they have several trading houses that they are working with and Ds has been training thre personal team of traders fro some time now.
381. forexrookie Says:
     April 19, 2008 at 8:55 pm thank you for your input. just got in 2 months ago..was going to sell more stail stock and put it in lewfam along with my original deposit. but all this talk kinda made me freeze….Lewfam does seem to be very organized and on top of things…Go Lewfam
382. Jcan Says:
     April 19, 2008 at 9:07 pm Over the years I have lost a total so far of $65,ooo.oo from my government regulated transparent retirement fund….3 years ago I withdrew from what was left of my retirement fund a substantial amount and entered the world of high yield forex investment. I was told to borrow from my retirement, the tax plus penalty was approx $30,000,00 for withdrawing. I know after due deligence that forex investment is high risk…I did not want to pay back anything if it did not work out….I figure, if the so called trained people can invest my hard earn money and loose 65K…..it was time for me to give faith a fighting chance……The rest is history.Forex investment has secured a good retirement for me, much more than I ever dream. Therefore, I will continue to invest wisely and forex will always be in my financial portfolio and as long as DS is trading for mr public, I will be one of his investors.
383. Realist Says:
     April 19, 2008 at 9:08 pm #1013 – Rich Kid:“… have you really wondered what the regulators are putting forward to these investment schemes to have them regulated – what really is the criteria for being licensed? They can’t put through the same rules as a bank being regulated – they need to modify rules to fit these investment schemes – dem a nuh bank.”Read this document:

     To be licensed, entities need to submit the relevant application form, copy of audited financial statements, and evidence that key individuals in the entity are “fit and proper”.

     Why should the requirements for registration be changed to suit these investment clubs? Which of the requirements would you change, and why? They may not be banks, but they take people’s money nonetheless. I would think that smart investors would welcome measures that seek to provide them with the assurance that the entities they intend to deal with are clean and above board so that they can better manage their risk.

     You may understand the risks involved, and be able to “move on” if things go bad, but there are plenty people who don’t have your mindset who are involved in these things. They don’t realize the true nature of the risk they take, and have an expectation of guaranteed returns and no loss. I am sure that some on this board will be crying out to the govt. or cussing them for not taking action sooner, if their beloved investment clubs crash with their money. These may be the same ones who swallow and spout this “Enemies don’t want us to prosper” rhetoric.

384. Realist Says:
     April 19, 2008 at 9:17 pm After the financial meltdown in the 90s people bawled about why the govt. didn’t step in to prevent it earlier. Now people are demonizing the regulators and the financial institutions seeking to comply with established regulations.I think it would be beneficial for investors in these schemes to seriously, objectively examine the facts with a view to understanding and better managing their risks. Go and find out what the real story is behind regulations and licensing. Go find out what the banks really have to deal with when it comes to anti-money laundering regulations. Try and look at the issue from all sides, and you’ll see this business about “Enemies” conspiring is really just propaganda.No better way to con the masses than to appeal to their base instincts, emotions and desires. Greed + Paranoia = Good con!
385. Rich Kid Says:
     April 19, 2008 at 9:30 pm #1018 – okay Realist…I am aware of the documents to be submitted by these schemes and I really would not change any of them but what are the conditions that go with being regulated – that I don’t know and would love to know. There must be some condition that the clubs are not agreeing with. I dunno – maybe you know or can find out what are the conditions?
386. Rich Kid Says:
     April 19, 2008 at 9:37 pm On a serious note though people – MD a gwaan like real eediat yuh nuh….when are they posting the gains. Has anybody gotten through to them recently?
387. Fedup NOT Says:
     April 19, 2008 at 9:43 pm Someone got through to MD recently, I believe it was SnB and was told that this weekend the accounts would be updated. They seem to be overwhelmed as we were told the same thing last week so that’s why persons complained on Monday of not seeing their gains etc. Let’s hope that they’ll be true to their word this time around.
388. Rich Kid Says:
     April 19, 2008 at 9:46 pm Thanks Fedup Not – everyday they are overwhelmed – I am tired of them.
389. cookie Says:
     April 19, 2008 at 9:56 pm easy street I am not sure where you live but I live in the US. HSBC is one of the largest banks in the US behind chase, Wachovia etc. I am saying that if people are having a problem with jamacan banks they have the option of getting an offshore bank account taht would provide themm with the same service, savings, withdrawal,visa/mastercard , checking account. You would have to keep your money in foeriegn currency than jcan dollars.
390. cookie Says:
     April 19, 2008 at 10:22 pm forex rookie,
     lewfam is different from olint. Lewfam main trader is DS but according to lewfam they have other traders. Based on investigation I was told that DS does actually handle lewfam money but has some Power of attorny to trade. So DS cannot withdraw but trade only lewfam can withraw.I could be wrong though.
391. DR Says:
     April 19, 2008 at 10:28 pm Cash Plus woes:http://www.jamaicaobserver.com/news/html/20080418T200000-0500_134708_OBS_INVESTOR_GETS_COURT_INJUNCTION_AGAINST_CASH_PLUS.aspEven more trouble:

     http://www.jamaicaobserver.com/news/html/20080418T220000-0500_134736_OBS____M_CASH_PLUS_SUIT.asp

392. thanks Says:
     April 19, 2008 at 10:44 pm hell0
393. Realist Says:
     April 19, 2008 at 11:06 pm Rich Kid:Take a look at this page at the BOJ website:
     
     It outlines what financial institutions have to be compliant with.
394. Realist Says:
     April 19, 2008 at 11:36 pm Here is document from the FSC on Anti-Money LaunderingAny bank, local or foreign, is very likely going to inclined to have controls in place to deal with money laundering. This will bring them in conflict with the operations of many of these investment clubs.Keep that in mind people!
395. cash Says:
     April 19, 2008 at 11:54 pm just log on to md apparently my account was made inactive because my id was not legible. been with md for 8 months now …..is this a joke or an excuse for not paying
396. PEI Says:
     April 20, 2008 at 12:03 am but wait it seems like noctec come back as realist or johndoe. it look like the same person and them post from blog to blog.saying the same thing. You soon see they start call you stupid jackass because you dont agree with everything they say. they go round the blogs laughing about the idiot olint and MD people them and how they not taking there advise. Richkid save your breath. they soon start curse you. me dont know who tell them that evrybody here have lifesavings in the clubs and will die if they go down. A few might but is only a few. anyway realist like how you so helpful go round and organise up some meetings for the public and teach them about the cons and where to invest and so on but dont curse them out just teach them maybe they will listen more.you seem to have the time.
397. Realist Says:
     April 20, 2008 at 12:28 am lol@PEII are not noctec or johndoe. I are who I are. lolRest assured, I’m not here to call anyone stupid, nor am I going to curse anyone. That’s not my style.

     At the end of the day, it’s your money, and you take whatever risks you feel like. I just think that before you do, you should understand what you are getting into, and not feed into the hype and propaganda which seems to be the order of the day.

     I know that it’s not everybody who has their lifesavings in these things. But you check the man or woman on the street and you’ll hear that these schemes hold the hopes and dreams of “poor people”. You may not feel it if things crash, but others will. Worst if these schemes turn out to be pyramid or ponzi scams and your gains would be at the expense of others.

     Sure I have the time to share my view, just as you all have the time to share yours. It just amazes me that supposedly intelligent investors seem to be operating off emotion and speculation instead of sound investment principles as they should be, then worrying about why they can’t log on and get their balances, and when will they get their “daisies”.

     lol

398. Realist Says:
     April 20, 2008 at 12:37 am Oh, I also find it interesting how instead of addressing the issues and facts, some people prefer to attempt to demonize and discredit those who hold an opposing view. That approach doesn’t help anybody. I know that what I say will not be popular with many here, but look at the issues instead of launching a personal attack. That is a more productive approach.
399. forexrookie Says:
     April 20, 2008 at 1:51 am THANK YOU GUYS I READ THIS BLOG EVERYDAY. YOU HAVE HELPED ME UNDERSTAND MORE ABOUT THE FOREX OF WORLD OF TRADING A LITTLE BETTER. IF ANYONE HAS ANY OTHER INFO ABOUT LEWFAM CLUB I WOULD LOVE TO GET A LITTLE MORE EDUCATED ON THEM. THANKS
400. Investment Tech Says:
     April 20, 2008 at 10:19 am #441i got the same message. A friend of mine also got the same message.
     I hope MD is not doing this as a stall tactic.
401. Stress now Blessed Says:
     April 20, 2008 at 10:42 am Good Sunday Morning AllCash #441
     Many MD members do get this message. Please be mindful that MD told us they were doing their DD as result of their DD by Wachovia. 4 out of 6 of my friends who became members of MD when I did, were locked out for one reason or another and the most common was ID not legible.Let us not get too caught up in the hype and throw every club in the same barrel as C+. It is reasonable to assume that MD is required to be in compliance or up to standard to maintain relationship with these financial institutions.

     Unless you are no longer interested in remaining a member it might be in yourbest interest to provide a more legible picture in a timely manner, as I know they have “ejected” many memmbers for non compliance.

     This might be a requirement by the bank – think and check.

     Please also note that O is also requiring many things that were never required in the past, and they too are undergoing DD.

     Good luck!

402. Lisa Says:
     April 20, 2008 at 10:58 am hi
     i got the MD message as well(ID not legible) and emailed them and they said that it was the wrong notation but i have not sent in a letter from a bank as refence. I will try and comply come monday and see if the account will be reactivated so i’m keeping my fingers crossed. Did anyone see an update of their accounts( for those who could get in)As well i transferred some funds from my o account to o tci and got a confirmation mail that the funds were transferred, but when i log into OTCI the account still reflects a zero balance. can anyone explain or should i take it to be a regular delay
     Thanks
403. Stress now Blessed Says:
     April 20, 2008 at 11:16 am Lisa #448Lisa go ahead an send in your letter as they have requested as they are seemingly in a “0 telerance” mode.I am able to log in and as of 10:00 a.m. there were no updates on gains.

     Regarding O to OTCI – I had the same difficulty and I believe what happened was it stayed in pending mode for about 3 days with a 0 balance and then it reflected the balance.
     Click under Navigation and click every tab and you’ll see the amount pending somewhere there. I’m not logged into O right now but it is hidden somewhere there – I stumbled upon it by clicking through every tab.

     Good luck!

404. Lisa Says:
     April 20, 2008 at 11:18 am thanks that was really helpful
405. Pip Unit Says:
     April 20, 2008 at 11:44 am <a href=”http://www.jamaica-gleaner.com/gleaner/20080419/business/business2.html” Olint lawyers evade NCB account closure.. What does everyone think of this. Is NCB his bank in Jamaica? If that bank eventually gets frozen doesn’t he still have the majority of funds at Wachovia off the islands?
406. Pip Unit Says:
     April 20, 2008 at 11:44 am Olint lawyers evade NCB account closure.. What does everyone think of this. Is NCB his bank in Jamaica? If that bank eventually gets frozen doesn’t he still have the majority of funds at Wachovia off the islands?
407. Pip Unit Says:
     April 20, 2008 at 11:46 am Sorry one more time. Here’s the link to the story
     http://www.jamaica-gleaner.com/gleaner/20080419/business/business2.html
408. Stress now Blessed Says:
     April 20, 2008 at 11:51 am Pip
     Your link wasn’t live to the article; however, I understand that DS/O does not have any real money in NCB. My understanding is not that they are going to “freeze” the account it is that they want to “close” the account.The difference is when they freeze you do not have access to money, when they close they give you what you have and you do not have a relationship with that bank.I think this fight is for the convenience of Jamaicans who would need immediate accessibility to funds from a local bank. Most overseas cheques take up to 30 days to clear and for many that would be an inconvenience.

     Let up pray that something is in the works to aleviate this inconvenience as O continue to work behind the scenes on our behalf.

     Blessed

409. Stress now Blessed Says:
     April 20, 2008 at 12:10 pm EVERYONE-
     Re below********* taken from the Gleaner article.QUESTION: Could NCB be operating out of malice?REASONING: I know for a FACT that MD was going through DD with Wachovia and they pretty much operate in the same fashion as O. MD at the end of the “ACTIVE” Wachovia DD(by the way I understand is an ongoing process)did their internal DD process ejecting many clients and requesting documents, but continue to make payments from their Wachovia account even though, far behind schedule.

     FINAL ANALYSIS: I am 99% sure that MD did not provide Wachovia one of the top 5 banks with audited financial statements and they did not close their account.

     WHY? WHY? WHY? WHY NCB, WHY?
     **************************************

     “NCB had notified Olint in November last year that it was going to close its accounts because it had not complied with its request to supply certain documents which included audited financial statements. The request was made to satisfy NCB’s anti-money-laundering policy, Know Your Customer, and other local and international measures to protect the integrity of the banking system”

410. Paige Says:
     April 20, 2008 at 2:39 pm Good afternoon allYou know, I can’t understand for the life of me why bloggers like FR, John Doe, Realist, etc who have no investments in OUR clubs constantly berate them. I just don’t get it. Maybe it’s me, but day after day after day. Come on now. When one takes a break another one pop up and again, THEY HAVE NO VESTED INTEREST. WE ARE NOT IN NEED OF YOUR PROTECTION. WE ARE ALL GROWN PEOPLE HERE. This blog was created for sharing experiences and knowledge of the clubs. How can one share experience if one is not a member of any of the clubs. WHERE ARE THESE PEOPLE GETTING THEIR KNOWLEDGE OF WHAT’s HAPPENING IN THE CLUBS FROM? MY GUESS ID HEAR SAY FROM OTHER NON MEMBERS. I HAVE YET TO HEAR SOMETHING CONCRETE WITH SUBSTANCE FROM THE AFOREMENTIONED INDIVIDUALS.
     ENOUGH IS ENOUGH!!!!!!!!!
411. Watchful Says:
     April 20, 2008 at 2:53 pm #455 SnB
     From my understanding of the banking system, audited statements are required for lending purposes. This will allow the banks to determin whether or not the borrower is financially stable. To open a business account, only the Articles and Memorandum of Association along with the Certificate of Incorporation is needed.If O is not borrowing, then audited figures should not be needed. Sooooooo, maybe is is malice!! Or just protecting ones territory!!
412. Roli Says:
     April 20, 2008 at 4:10 pm #45 Paige, I have to disagree with you on that one. I am not defending people like FR nor DS either. But their opinion must be valued also. From my perspective they add balance to this blog. I for one would not want a blog where everyone is to the far left. We need people to give their opinion from the far right also. It is up to you to take it or leave it. I really want to see these inevstment clubs succeed myself. But just as how i value the +ve inputs I also value the -ve ones as well. Let us agree to disagree.
413. PEI Says:
     April 20, 2008 at 5:55 pm Me agree that you need diferent view on the blog but when the posters them that not in the clubs just come and go on like everybody is idiot and them only have sense it hard to put up with them. I never get in involve with C+ cause i did not get how they making money so that one never hold me. Higgins me hear was a con man before plus him never look too righted. When I start hear about this fx thing some tell me is like race horse gamling and others tell that is noot just so and then me start hear about DS and so on. I check it out and ask everybody about fx what i did not understand I ask more. I decide to take a risk after I check out about DS. you can do all type of planning and so on but at the end evrything is a gamble and I know that going in and prepare if it did not work. I would be a mad man to blame anybody but myself.
414. Paige Says:
     April 20, 2008 at 6:50 pm RoliHow can someone offer anything constructive if all they are doing is speculating. David Smith is a conman according to FR. Where is the proof? Den John Doe bout im London Bridge is fallin down. Folks this is not a game.People can disagree but when one attacks someones character without proof or make childish comments bout London Bridge is falling down, a line should be drawn.
415. Realist Says:
     April 20, 2008 at 8:24 pm Paige:It is amusing to hear you speak about hearsay. Hearsay is what brought most of y’all to your investment clubs in the first place. I haven’t brought up any “hearsay”. All I’ve said is that people need to be smart and look at the facts instead of getting all caught up in their emotions about investing.Quite frankly, you can do whatever you want with your money. What gets me though is this paranoid rambling about “malice”, and “enemies”. Law is law, regulations are regulations and people should comply with them. Why would anyone have problems with complying with rules and regulations?

     I haven’t assaulted anyone’s character. But for those who worship the very ground some of these club leaders walk on, ask yourself this question: how well do you really know these people you put your trust in? You would be surprised at what lies in the backgrounds of some of these people – even the one you all seem to love best.

     lol

     Who nuh like weh mi seh, just ignore it. lol

416. Independent Says:
     April 20, 2008 at 8:48 pm If something is too good to be true it normally is.
     When I first heard about these alternatives I was very skeptical of them, but i went in and threw a little money into Olint.
     But folks it does not look good.I am a simple minded person and If Olint is refusing to publish financial statements it indicates they have something to hide. If Olint cant give me my money when requested, to my simple mind it means, they maybe running low on money
     So while I have money in this thing it is not clouding my judgement. By proffesion I am a trained Psychologist and the behaviour on this blog is typical human nature, when people are too emotionally involved in something it clouds there thought process.
     Now I can HOPE things work out but the CIRCUMSTANTIAL evidence that is out there indicates that Olint is a ponzi scheme and my money might just be gone.
417. unreal_investor Says:
     April 20, 2008 at 8:48 pm Some of dem detractor yah gwan like them holier than thou to rahtid, brining up people past an all. Gwan hide behind you IP address, if you want us tek you serious post your name and credentials for all to see. If you all so brilliant, why you wasting your time on the internet posting on forums all day, go play mother tarissa or something. Anything can change the situation the club members are in now. Your unproductive negativity is more useless now than ever. Anybody can pick the wining horse after the horse done win. Where was your brilliance five years ago? Stop your rubbish and go do something productive…
418. Independent Says:
     April 20, 2008 at 9:03 pm To certain people, lets not call each other fools for entering these investments. Alot of people were genuinely misinformed and took the plunge. Alot of people have 100 plus thousand into these things and I am sure the uncertainty is eating them up inside.
419. Wan Spec Says:
     April 20, 2008 at 9:10 pm # 464 – INDEPENDENT. I wouldn’t say that OLINT is a ponzi scheme, at least not yet. Something is obviously wrong to any thinking person beyond what they are telling us, but I would not throw in the towel just yet.There is as much CIRCUMSTANTIAL evidence pointing in the other direction.My feeling is that the truth lies somewhere between the ’sky is falling in’ crowd and the ‘all is well, keep the faith’ crowd.
420. Mercury Vapor Says:
     April 20, 2008 at 9:15 pm Hi Everyone,For those of you interested in managed forex accounts, here is a blog that has reviews of a few of them. Click on “Managed Forex Accounts” under categories on the left side of the page. Today I checked it and there are reviews of managed forex accounts from FXCM and GalleonFX.http://alansmoneyblog.com
421. Skeem Says:
     April 20, 2008 at 9:51 pm THE BANKING CODEBUSINESS BANKING CODE (44 page pdf doc)
422. Independent Says:
     April 20, 2008 at 9:59 pm Wan SpecI hope you are right. But this is playing out just like CP and i get the feeling we are being led down the same path.
423. Lee Abrams Says:
     April 20, 2008 at 10:11 pm if anyone is interested in lewfam feel free to email me at: lee4ever@gmail.com…..
424. Mercury Vapor Says:
     April 20, 2008 at 10:37 pm Man, Skeem you’re the best!No “hello”…no “well my opinion on O is”… no “how’s everyone doing?”…nothing! Not a good damn word!He justs posts his link…and then cuts! Man, I like this guy.

     I wish more bloggers were like him, and not fill up this blog with foolishness.

425. chillin Says:
     April 20, 2008 at 10:48 pm Here that MD is now sending wiring which was requested at the last week of feburary, I wonder about the interest update.
426. Stress now Blessed Says:
     April 20, 2008 at 10:54 pm Robinotep @ #461
     Since you wrote the book and you know what happens at the end, why dont you just tell us so we don’t have to read the whole story?OK, SINCE YOU TELLING US MEK WE READ IT….
     Nobody twisted our arms and took our money – we just fool fool, with a get rich quick mentality, that we allowed greed to cloud our judgement and even though the writing is on the wall for all to see, we are still not taking heed because we craven and we want the almighty dollar, even though the man that we believe in is a con artist, can’t trade for anything, broke, can’t provide any transparency and is obviously a ponzi scheme – we still shut our eyes and play blind and blame it on malice even though the law is the law. We jamdowners will just have to learn the hard way, if we decide to continue being blind…………THE END!Robinotep- YOU write the story, WE took precious time to read the story, Even though WE DON’T LIKE THE STORY, WE understand that it is a TRUE story, and we should learn from the story, especially since is the same OLD STORY, but most of all please realize…. THE STORY END!

     ********************************
     Realist @462
     It obvious your vacation has come to an end. I hope you and Cindy had a wonderful time.
     RedP, sake a you and you CAUTION, It is obvious you they took great caution while going over the the very high high high bridge cause him and Cindy come back safe and sound.

     FR, I know a nice place you and Cindy could go for unuh next vacation. It is a nice place in Florida called Alligator Alley. It full a alligator ALL year round. You don’t need to take dem air boat tour cause it not cheap, just drive up there, park your car on the roadside, go down near the water along the road (park good mind car lick unuh dung) walk up to the water along the alley way and just wait for one of the BIG alligator dem to come up to you and you just pet him on him head, dem won’t trouble you, dem very friendly and it would’nt cost you nor Cindy a nuttn. A matter a fact unuh would have such a good time, unuh wouldn’t even know or care if O give us back a dime. ENJOY DI TRIP

427. Kevin Says:
     April 20, 2008 at 11:02 pm Members,While I encourage humor, as a reminder we should aim to make our posts as informative as possible rather than tasteless clutter. Contrary to what others may think I do appreciate all views both positive and negative. We should refrain from engaging in personal attacks as there are no idiots and fools on this forum. As the ‘driva’, I can say that we have a variety of backgrounds on this forum. There are at least one of the following:Lawyer, accountant, banker, medical doctor, IT professional, actuary, Tax advisor, unemployed etc.
     I am sure I speak for everyone when I say that none of us went into these clubs with any long term investment horizon. We saw a potential opportunity and we took it. If it works out fine, if not we will deal with the consequences but I can assure there are no fools and idiots here including the so called detractors.
     So again I say let us change our tone and stick to making our posts as informative as possible. As a reminder, there are other pages that are available for posting and I would encourage you all to make use of these.

     The ‘DRIVA’

428. Stress now Blessed Says:
     April 20, 2008 at 11:04 pm Mercury V-
     I hopeis not me you talking bout…
429. Mercury Vapor Says:
     April 20, 2008 at 11:07 pm Hahaha…Stress Now Blessed, that was a good one. You should be a comedian!
430. Mercury Vapor Says:
     April 20, 2008 at 11:09 pm No man Stress, you know I love you!
431. Fedup NOT Says:
     April 20, 2008 at 11:15 pm Can anyone tell a bit more about that 25 y/o guy that jumped from the Pegasus last week. I understand that he was a trader for one of the more prominent alternative investment schemes, but he made some bad trades, any more news on this?.
432. Fedup NOT Says:
     April 20, 2008 at 11:16 pm His name is Steven Britton
433. Patricia Says:
     April 20, 2008 at 11:21 pm “..tasteless clutter”, I like that.
     That’s what has caused alot of pple to get turned off and not post anymore. Once upon a time there was so much good stuff flowing, not just O dis and MD dat.Where’s HD, Fyier, Vela, Specs, JSM, Jcan, Mr.C, Anthony, AJ, YardMan on Wall Street, VSM, Fuzzy Original and many more !!!those were the days!!!
434. Stress now Blessed Says:
     April 20, 2008 at 11:25 pm FedUp NOT -Good to see you on the blogging and FedUpNOT!I know nothing about Steven Britton other than what you have heard. On a different note – FedUpNOT, I was wondering if your daisies are still alive if you could give me a few stalks until mine bloom

     Much love!

435. Fedup NOT Says:
     April 20, 2008 at 11:32 pm SnB, would you believe that I check the MD site each day just to see my true balance so as to shape up for another bouquet request.I’m sure your daisies will be in full bloom by this week friday! Keep faith.
436. Yardman On Wall Street Says:
     April 21, 2008 at 12:20 am #479Patricia, you have garnered my complete respect for your writings, and I value you as one of the financial cornerstones of this blog. I agree with Kevin’s comments 100%, and we need to restore this blog to its former days of glory, as an information icon.
437. Yardman On Wall Street Says:
     April 21, 2008 at 12:22 am BRUCE ROLLS DICE – Government gives green light to casinos
     published: Sunday | April 20, 2008Arthur Hall, Senior Staff ReporterCASINO GAMBLING could soon become legal in Jamaica. The Government has given approval for a group of international investors to establish the island’s first legal casino.

     Prime Minister Bruce Golding is expected to announce the decision and provide details during his presentation in the Budget Debate on Tuesday.

     Government sources say the first casino is to be established at a new hotel to be constructed in Montego Bay, St James. According to the sources, the new hotel will have more rooms than any now operating in the island, and will employ thousands of Jamaicans.

     Multibillion-US-dollar development

     “It will be more than 3,000, and could have as many as 4,000 rooms. However, the multibillion-US-dollar development will not take place if there is no casino attached,” the sources explained. The sources refused to name the developers, only saying that it was an international group with a good track record of operating hotels and casinos.

     “This will be a major part of the Government’s drive to create jobs and more jobs and spur economic growth,” the Government sources added.

     Efforts to get an official comment from the administration were unsuccessful as The Sunday Gleaner was encouraged to await the prime minister’s presentation in the Budget Debate. Speaking from China, Tourism Minister Edmund Bartlett refused to comment on the reports, also pointing to the prime minister’s pending address.

     Bartlett has made no secret of his support for the introduction of casinos and, in January, described as hypocritical, the campaign against casino gambling. He argued that the interest groups, which have been lobbying against the official introduction of casino gambling, are silent on other forms of betting, gaming and lotteries. According to Bartlett, the Jamaica Labour Party government will not renege on commitments made by the previous People’s National Party (PNP) administration to give the country’s first casino licence to an undisclosed group of foreign investors.

     Ongoing controversy

     Jamaica has legalised slot and other gaming machines throughout the country, with gaming lounges being opened in several places. But the ongoing controversy over casinos prevented the previous administration from going the full way.

     However, the PNP made it clear it was leaning in that direction after a 2003 study, commissioned by the party, recommended adopting casino gambling as a way of enhancing the tourism product. In 2006, it appeared that the PNP government had committed to the concept of a casino resort, complete with sports book, table games and slot machines.

     This was to have a rider that the legal limit of 1,000 machines per location would be surpassed if the hotel had more than 1,000 rooms.

438. ForexGuy Says:
     April 21, 2008 at 1:16 am Great e-book on Offshore Money and Asset Protection Methods. It is not the full book, but the information is definitely very helpful in terms of new opportunities for moving your money.From the research I have been doing, it seems like the best avenue for moving funds is through a swiss bank account which can most definitely be opened online.
     Good luck to all and I am glad to see this blog returning to a positive and informative environment!
439. ForexGuy Says:
     April 21, 2008 at 1:17 am Forgot the book link!!http://books.google.com.jm/books?id=7b-ZwK-HFBYC&pg=PA115&lpg=PA115&dq=chop+account&source=web&ots=KdNSS_NzfJ&sig=s_HPeMrVFQ9pLf0ne0lHi-ckrto&hl=en#PPA137,M1Enjoy!
440. JK Says:
     April 21, 2008 at 1:27 am has any of u seen the ad by a lawyer in the observer today saying that banks are also ‘alternative investments’
441. DoItUrSelf Says:
     April 21, 2008 at 8:23 am Anyone hear anything on the MD ting in Zambia?
442. Oneil Says:
     April 21, 2008 at 9:30 am Anyone in here has money with capital blu, please email me on the performance to date for both funds, from day 1, email me at oneil1901@yahoo.comPeople it is time we start looking for investments which are regulated, if not in jamaica, regulated in the usa. I am tired of all these speculation about O and MD.Why is DS fighting so hard with NCB ,FSC, why not be flexible, there other options to operating olint in its current form.
443. Patricia Says:
     April 21, 2008 at 9:37 am Hey YardMan, respects. Good to see you.JK, re the Observer AD, can u photobucket it?
444. DR Says:
     April 21, 2008 at 10:13 am 487 Do it YourselfI heard that the Zambia MD case was thrown out of court…******************************************************
     488 Oneil

     I am not able to tell you the exact payouts from “DonBlu” but I know they tend to do an average of 5% per month.

     Oneil, the question is why is DS spending so much money on lawyer fees? I wish I could answer…..

     Here is the flip question, why is MD spending money in Zambia, why the charity? I need my garden to bloom so I can pay my tithes and give to the poor too. I watered my daises in October, then I placed some manure at the roots in November…. Are they going to wait until this month end before I start to see “real results”?

445. DR Says:
     April 21, 2008 at 10:15 am Why did WW spend so much money on “Universe”, while ignoring the software upgrade?Why did CP spend money on football, but was not able to pay on March 31 or April 14?questions, questions,
446. Independent Says:
     April 21, 2008 at 10:17 am Oneil, I agree with you, from now on any investments from now on should be regulated. This waiting is getting on the nerves of folks. I am tired of people coming into my office discussing these alternatives and stressing over there money.
     I also don’t get why olint is fighting so hard with NCB and the FSC. If NCB requires an audit then he should get the dam audit done, if the FSC requires a licence then get it done or get the process done. Many of us proffesionals whohave gotten our qualifications in foreign jurisdictions and want to return to Jamaica we had to study again and get the relevant documents.
     That is the world we live in, going to court and fighting is not the answer. It is not fair to investors to be waiting for encashments since January and every month we are being told next month. David Smith get your stuff straightned out or come clean with the investors
447. RedP Says:
     April 21, 2008 at 10:31 am Morning People, Just a reminder,
     In the words of Jamaicas greatest primeminister ever, a prophet and one who put people first!!
     THE LAW IS NOT A SHACKLE!!Maybe Super Dave jus followin PJ advice!!
448. Investment Tech Says:
     April 21, 2008 at 11:30 am WW seems to be working on the transaction records, i am presently not able to see any of transaction in that tab. anyone else with the same problem.balance is correct though
449. Futures_trader Says:
     April 21, 2008 at 11:49 am As the future forecast for these scheems seems to be moving from partly cloudy to overcast with some pretty thickclouds that can leave much people with some serious colateral damage, I would like to suggest that going forward that investors take the advice of the national hurricane center and do due deligence and protect their asset and the lives of their loved ones.Some people could afford to play fool and not board up because they have plenty money to build mmore houses or dem got big insurance. But I know the majority donot have that so please investors , listen to the hurricane warning and protect you property and dont be fool fool because starting over is never easy.
450. JK Says:
     April 21, 2008 at 12:01 pm dont have a scanner to scan the Ad patriciainvestment tech same thing here wid the transaction part
451. DR Says:
     April 21, 2008 at 12:52 pm Futures_trader:-oh boy, will have to heed to your warning……The climate is dangerous.

     Do you realise that most of the heads of these clubs live outside of JAmaica? there is no ‘access’ to them.

     signs of the times….. Is that the first warning signal? I wonder?

     Sorry to drive fear in your hearts…..but I am getting VERY concerned………The money I have invested represents 50% of my portfolio…..crazy I know, but I had to take a chance.

452. RedP Says:
     April 21, 2008 at 12:57 pm Do any of you know what is the criteria neded to upgarde an olint A account to a B account?? Are you required to have a certain amount of funds ie: Trailer load of cash?? I had made a request for upgrade over a month ago but as per usual have yet to receive a reply as to whether it be yea or nay.
453. Floridan Says:
     April 21, 2008 at 1:43 pm Red P… Are you sure moving from an A account to the B account represents an upgrade???In my mind it represents more of an up-RISK… In that, you might get some more interest rewards in the B account, but it also puts you at more risk as well…If I’m not mistaken, your money in the A account is “guaranteed” at 80%… In that, if the funds in that portfolio depletes by 20% to 80%… The 80% is guaranteed.

     In the B account, only 50% is “guaranteed”… In tha, if the funds in that portfolio depletes by 50% to 50%… The 50% is guaranteed.

     Can someone correct me if I’m wrong with the above info… FYI… I hear they also have a C account… That one have BIG returns, but take BIG risks… In that one, they trade 100% of your funds and it is ALL AT RISK… In that, nothing is guaranteed… If yuh money blow up… A so it go…

454. Opportunity Says:
     April 21, 2008 at 1:45 pm DR,
     50% of your portfolio is indeed crazy . Anyway we all hope for the best.
455. rexton gloudon Says:
     April 21, 2008 at 2:25 pm Here is a crazy thought, will someone tell me if it is a possibility or am i mad. Suppose olint traded and suffered some HUGE losses recently and is actually buying time to recover the funds in addition to bolstering their capital base with the new a/c intake? lol. makes sense? hope this is indeed the case as against going down like cashplus.
456. RedP Says:
     April 21, 2008 at 2:42 pm #499 FloridanA ‘C’ account??!! Blouse an skirt!! Where do I sign up!! Seriously though, dont worry, just wanted to kick it up a notch with a small portion in a ‘B’. Just wanted to know if anybody has one what is the minimum amouht required.

     On another note, I dont think Carlos have too much to worry about. White collar crime isnt taken very seriously down here. I have an aquaintance who embezzled 8 mil. from an insurance brokerage he managed. This was in ‘95, back then that was nuff corn. He got six months and didnt pay back one penny. But he was white so maybe that made a difference.
     RedP

457. Wan Spec Says:
     April 21, 2008 at 3:06 pm Does anyone seriously believe that 80% of your money is guaranteed? Guaranteed by whom? I would go ahead and sign up for the ‘C’ account because that is essentially how I categorize my account anyway. 100 % at risk. I may as well get the higher returns.But this is academic if we caan get wi money!
458. FuzzyOriginal Says:
     April 21, 2008 at 3:33 pm Folks,I have not disappeared. People dont’t worry. You have been dilligent and followed the rules:
     1. Invest only what you can afford to loose don’t be greedy
     2. Recouped your capital early plus a little bratah
     3. Let the house money now work for you
     4. Don’t worry sit back relax and enjoy your night sleep.Every market has it ups and down
459. GetRich… Says:
     April 21, 2008 at 3:37 pm #501 I have heard that from several persons. Makes sense…
460. PEI Says:
     April 21, 2008 at 3:38 pm Rexton 501 a poster said we dont know what we dont know and that is true. what you said is not mad. It sound reasonable. The problem is we just dont know. in fact right now any thing can sound mad or reasonable just depends on how you look at it.
461. chillin Says:
     April 21, 2008 at 4:43 pm If MD has last stated that they would have updated there account from the mid of April they have not done so, you cannot get thruogh to there phones, they do not respond to querries, there is no comunication, THIS IS CAUSING PANIC, a know a few people say they are widrawing there money, if everyone starts doing that then the thing a go mash up. THEY NEED TO COMMUNICATE WITH US NOW.
462. 100 %l in investor Says:
     April 21, 2008 at 5:03 pm MD investor : I have all confidence that the river will be running smoothly in a couple of DAYS !
463. Skeem Says:
     April 21, 2008 at 5:07 pm Four sentenced in Grenada offshore banking scam (Gleaner article Aug/29/2007)
464. Skeem Says:
     April 21, 2008 at 5:24 pm FREQUENTLY ASKED QUESTIONS ABOUT OFFSHORE
465. Skeem Says:
     April 21, 2008 at 5:27 pm Financial Action Task Force RECOMMENDATIONS ON DUE DILIGENCE PROCEDURES FOR FINANCIAL INSTITUTIONSBASEL COMMITTEE ON BANKING SUPERVISION
466. Skeem Says:
     April 21, 2008 at 5:33 pm BANKING SYSTEMS10 Biggest Offshore Banking Myths Explained(sorry for the multiple posts)
467. Opportunity Says:
     April 21, 2008 at 5:34 pm Skeem,You are the greatest. This blog need people like you. Just pass on the info and that’s it.
468. DoItUrSelf Says:
     April 21, 2008 at 6:01 pm Thanks for the info DR.
469. InForTheLongHaul Says:
     April 21, 2008 at 6:29 pm Rexton Gloudon #501.More speculation.Please guys we really have had enough of that!I refer you all back to Kevin’s post #473. Lets keep the posts informative.
470. Skeem Says:
     April 21, 2008 at 6:38 pm Cash Plus lenders can request information on their individual accounts by writing to:
     Cash Plus Ltd (in receivership) PO Box 606, General Post Office, Kingston; or email cpreceiver@cashplusltd.comhttp://www.jamaica-gleaner.com/gleaner/20080421/lead/lead2.html
471. JK Says:
     April 21, 2008 at 7:11 pm wat u guys seh bout a live chat session on WW’s chat room?we can all set a time an we can come an talk ??
472. Anthony_dundee Says:
     April 21, 2008 at 7:12 pm Hi there a quick question; I just linked up with a trader in New York, he is using the oanda platform. He just trades on air st a time, I can see the trades, its a managed acct. Can I mimic his trading on another acct or is that his intellectual property or is it just unethical?
473. Ronnie Says:
     April 21, 2008 at 7:15 pm Kevin # 473Drivah while citing facts that there are “Lawyer, accountant, banker, medical doctor, IT professional, actuary, Tax adviser, unemployed etc” on the blog, it is also important to note studies show smarter people usually fare worse at investing than less smart people. The reason is, smarter people are over confident in their own investing ability while less smart people inherently know they have limited ability and act within their limits. This leads smart people to take out sized risks leading to worse performance.It works like this: If you had a bridge to build, would you hire the brain surgeon that finished top of his or her class? Or if you needed brain surgery, would you hire the engineer that was top of his or her class? Or better, if you needed open heart surgery would you hire the brain surgeon at the top of his class or would you hire the cardiologist who finished middle of his class.?

     Smart people tend to be over confident in their abilities believing they are as knowledgeable in areas outside of their area of competence. This is why they often get killed in investing. Just because you are smart in your chosen area does not mean it automatically translates into skill at investing.

     I know several doctors, some very prominent lawyers and engineers etc that invested in Cash Plus. Be honest. Looking back, can you believe that anyone could fall for what CH said Cash Plus was doing to generate 10 % per month? But 40,000 did and with many smart persons among that number. Look at HW, do you believe people actually believed that stuff could generate 20 % per month?

     Look at the ponzi scheme that Skeem posted at 509. Do you notice the similarity of the principals with CH and MH of C+ and HW? They all have very limited education. These people have difficulty writing a grammatically correct paragraph of English. Yet they were able to con thousands of much “smarter” people and many with multiple University degrees.

     This is because these Con Artists are among the best at what they do and that is, conning people out of their money. They depend on and are able to manipulate “smart” people who believe they are too smart to fall for any scam. This is the principle at the core of any scam. There are not enough fools or idiots with money to make a scam worthwhile.

     Bloggers may want to keep this in mind the next time you hear that we are all smart people and we knew what we were getting into and we had our eyes open.

474. Stress now Blessed Says:
     April 21, 2008 at 7:28 pm Ronnie,
     I don’t think Kevin was trying to say we are too educated or too smart – I think as the “Driva” he was driving home the point to bloggers who keep Jeering the risk that others were willing to take. Bloggers who are so smart yet so insensitive that they do not realize that there are real ppl behind each post.God Bless
475. Patricia Says:
     April 21, 2008 at 7:34 pm Ronnie, what I took from his post is that there are simply no idiots and fools here. I dont think implicit in what he said was that because some here are professionals, that they are also investment experts. He also said people saw an opportunity and took it.I too agree that if it works fine if not so be it.That’s the same approach I took the stock markets/mutual funds/real estate. Some of my losses, not that they were many, came after acting on the advice of licensed investment advisers, experts in their field…DB&G, Mayberry, TD Waterhouse to name and a few.Some of my best info came from everyday people who shared some insights with me. Some even on this blog. Classic eg. was HD’s post on POT on the TSX, earlier this year.

     Ronnie your caution is duly noted but you may be reading waaaaay toooo much in to it.

     The point is people please be informative, and factually so. I am a firm believer in the power of collective intelligence. Cut down on the speculation, and belittling of folks.

476. Livin n Babylon Says:
     April 21, 2008 at 7:36 pm Okay… had my much awaited communication with my contact. Naturally to most of you, my assurances from a contact, which I can’t reveal, means precious little. All I can say is that it was very positive and the funds will flow. However, we are both concerned that come the end of this May, once funds start moving, that a large number of people are going to demand total withdrawals and put those of us here for the long haul in a similar problem. I think David should make it clear that anyone who does this will not be allowed to… who knows.I also spoke with a contact at Olint, which again means very little to many, but finally they are working on an update communication for all club members. My hope and anticipation is that Olint will join in with this newly founded CCTA in an attempt to provide not securities regulation, which will only cause a compliance nightmare, but more along the lines of a self-regulatory body. Initially I don’t anticipate any self-regulatory body to have any serious influence, however as it matures this should be a wonderful adjunct to any self-styled club or hedge fund operating in the Caribbean that hopes to achieve a respectable measure of trustworthiness.All is well, patience once again wins all.
477. Patricia Says:
     April 21, 2008 at 7:37 pm Please excuse the typos
478. Stress now Blessed Says:
     April 21, 2008 at 7:42 pm LnB
     Are you saying that my May 8th date means nothing at this time as they are talking about the end of May?Speak to me.
479. Livin n Babylon Says:
     April 21, 2008 at 7:44 pm Anthony_dundee,This is perfectly legal and ethical, which is why people like myself have so many problems. Special arrangements have to be made with the brokerage to provide people like you an end of day record instead of a real time observation account. I have traders that have unique institutional experience, which they are leveraging to achieve great returns, but how to make this fund operate is very difficult since they (and I) view their decision logic as “property”. When you believe in the value of personal liberty and the right to create property (the labor of your soul – not real estate, which people mistakingly assume), then this becomes a product of intellectual property that should be guarded, but it is the traders duty to protect that property.
480. Wan Spec Says:
     April 21, 2008 at 7:46 pm # 522 – LnB. I had the same report from someone who spoke to DS himself last week. This person is someone I have known for 25+ years, and he has known DS’s family for years.He was assured that operations will return to normal come the end of May.I have a lot more concrete information which I am not a liberty to divulge, which is unfortunate because it is everybody’s business, but if I betray a confidence then the next time I want some info I will be out in the cold.

     We need to continue to agitate for transparency and openness. There is no excuse for the unprofessional behavior displayed by these clubs.

     A simple audited summary of accounts would betray no secrets, but would put clients minds at ease, and also protect the operators of these clubs. I can’t understand why that is a bad idea.

481. Livin n Babylon Says:
     April 21, 2008 at 7:47 pm SnB my friend,I have to explain it as a “sort of” as it honestly depends on how much the request is for. My low 6 figure request from February 25th will not come nearly that early simply due to the size of the withdrawal. Sorry but I gotta run – Peace to you.
482. Livin n Babylon Says:
     April 21, 2008 at 7:48 pm Wan Spec – I know. It’s difficult because you want to use names etc., but at the same time just remember that the Nay-sayers will disregard it all anyway.
483. paul h Says:
     April 21, 2008 at 7:53 pm Here is an idea. Why don’t we all go to Braemar ave. and demand a straightforward info on the spot or demand a meeting with all the principals involved.We are getting back into a lot of misinformed info and that’s not good.Btw, the four years of psych. I have under my belt taught me to respect the clinical science that psychology is ….that is, that it is definitely ‘not’ gut feeling or common sense. Peace.Seriously let’s plan a date.
484. Floridan Says:
     April 21, 2008 at 8:01 pm “Those who know, don’t speak and those who speak, don’t know”Jackie Chan, The Forbidden Kingdom
485. Independent Says:
     April 21, 2008 at 8:06 pm Livin In BabylonWhere did your “contact” get this information from? Was it DS? You see I see the past mistakes of HW, CP,SC and with all of these the main ‘principal’ was re-assuring people to the very end. I am frankly not convinced. Ask your contact why DS is refusing to provide financial statements.The days of slavery are over, we as black people should demand more, it makes no sense for us to be strung along by the powers at be.
486. rexton gloudon Says:
     April 21, 2008 at 8:17 pm inforthelonghaul, did you ever stop to consider the possibility that maybe rexton has information that you do not? when people expressed doubts that the businesses cashplus was involved could hardly generate the returns touted they were similarly villified. would you rather we all kept quiet until the year 2090? what would you read?
487. rexton gloudon Says:
     April 21, 2008 at 8:19 pm inforthelonghaul, did you ever stop to consider the possibility that maybe rexton has information that you do not? when people expressed doubts that the businesses cashplus was involved could hardly generate the returns touted they were similarly villified. would you rather we all kept quiet until the year 2090? what would you read?
488. DR Says:
     April 21, 2008 at 8:24 pm 529 Paul H.You are lucky you have a place in Jamaica to go to…..The rest of us would have to travel to a far-away land. ouch );

     I have learned my lesson; stay away from off-shore unregistered clubs…. NEVER AGAIN!

     Slowly, it seems as if the major principals are moving out of JAmaica….communication problems…..hmmmm not a good sign!

     Think & Check

489. DR Says:
     April 21, 2008 at 8:25 pm Bounty Killer was stoned in Guyana….. I always knew the gays are powerful! hmmmm
490. DR Says:
     April 21, 2008 at 8:28 pm Harold Brady resigns from CMP board….Why now?The timing…..hmmmhttp://www.radiojamaica.com/content/view/7382/52/
491. paul h Says:
     April 21, 2008 at 8:36 pm Thing is,I’ve been touting the power of the blog have been suggesting a face to face as had happened in the past but until Braemar ave. learns to appreciate the concerns of the clubmembers on whose behalf they operate it will continue as is. As a matter of fact the thinking is after th end of May this will all become a distant memory…until the next time.Sometimes in life ,until we learn from and correct the mistakes we are apt to many repeats.As Tupac said until we start Knocking at the doors we will remain hungry.
492. Rexton Gloudon Says:
     April 21, 2008 at 9:06 pm as someone once said, what you dont know you just dont know.
493. paul h Says:
     April 21, 2008 at 9:07 pm When I came back to Ja.,I encountered problems with the utility companies.When I read the agreement with the OUR on part addressed my complaint.It was about consecutive estimated bills.I filed a complaint everytime I received one.JPS credited my account $1000.00 for each complaint so in short order I went from owing to being owed and issued with a decent credit. Now although there hav ebeen ads placed about the provision of over $100,000,000 to satisfy these complaints to date only about $250,000 has been paid out.People lets manage our affairs.So for those of us in Ja. and going forward those in the diaspora..(overworked term) lets exercise our rights as clubmembers in a constructive way.Can you imagine if we really came up with a credible plan.
494. JK Says:
     April 21, 2008 at 9:28 pm well i can now confirm with a foreigner who involved in WW that them get them money like clock work!!! at the beginning of the month since they been in it since last year thats good!!
495. Stress now Blessed Says:
     April 21, 2008 at 9:31 pm Did anyone get through to MD today?I’ve been unable to get through and I would love to know why gains are still not posted.
496. mangobeach Says:
     April 21, 2008 at 9:37 pm Hi everyone. it’s so good to see that there’s been some form of cathartic dscourse goin on somewhere. My catharsis would be, if someone from may MD would write an entry or two per week on their site to calm my frayed nerves! It seems it would be too much to ask fr even one number to have an informatory, update type message, perhaps changed weekly on it. I have had my frustrations with the big O but, I must say, their commitment to keeping the lines open has been commendable and soothing to my poor unnerved psyche. Due to that and other due diligence that I’ve done,I wait impatiently but confident that all is well.
497. mangobeach Says:
     April 21, 2008 at 9:40 pm Stressed Now Blessed I have had nocommunication for a couple of weeks with them!
498. RedP Says:
     April 21, 2008 at 9:43 pm Skeem, thanks alot for those links.
499. Stress now Blessed Says:
     April 21, 2008 at 9:47 pm Mangobeach – Ive totally convinced myself that the problem with MD is “clueless” management.There are too many steps that MD could take to calm the fears of its members but that would make too much sense.They are IT ppl, but what does IT stand for in their case…. please stop me…
500. mangobeach Says:
     April 21, 2008 at 9:55 pm Stressed I think IT in this case stands impatient tendencies (inducing)
501. JohnDoe Says:
     April 21, 2008 at 10:29 pm Olint Fight for survival continues tomorrow.
     http://www.radiojamaica.com/content/view/7395/26
502. dehustle Says:
     April 21, 2008 at 11:36 pm Livin n Babylon@ 522/ Wan Spec@ 526Since you are both seemed to have connections to the ear of DS, please be so kind as to share these few words with him.
     Most people have no doubt that O will be alright in the long run “no pun intended “ but come May there are pple who will want to leave not because of DS abilities as a trader but because of his integrity as a business man (and of those who he has left up the day to day running of his business )
     When your clients discover that that they are being told a LIE , they begin to wonder what other LIES are being told
     O LIES when their CS parrots weeks after week that “No funds are being paid out today “ when in fact its a fren and company disbursement party (this is not a rumor but a fact )As most of you know I have been one of the most loyal supporters of O and had been “keeping the faith but as Ole time pple say” tek sleep and mark death ” and over the past few weeks I have had to ask myself this question if things were to go totally awry at O what system would be used to pay out funds? Would the persons who say have less than 150K, worse less than 50 k or dont have any “contacts ” get back NOTHING while million dollar accounts are paid out in FULL , YES!! More than likely as I am now experiencing first hand how the “champion of the poor operates ‘
     Even The snake oil sales man CH had some kind some kind of a seemingly equitable system proposed for payout (even if they were no funds available)
     How difficult could it have been for O to implement a system during this period? Say Everyone gets up to first 5/10 K of their withdrawal and mebbe x% thereafter, with some counterbalances in terms of withdrawal dates, maximum withdrawal sum allowed until May, limit frequency, % of total balance…. whatever
     I don’t know something… anything other than what obtains now … giving some 100-200 K and some people none or worse who waiting from Jan nothing who ask last week get (this rubbish has been going on for weeks now).

     Please Have your “” contacts “remind him that he is no longer trading for his friends and relatives in his bedroom, but is running a billion dollar business with thousand of customers, who now feel their loyalty has been seriously misplaced and should have probably joined in The “Run” and rumor mongering that many of his six figure clients that he loves so dearly have been doing since last November

     Signed Stupid Money

503. dehustle Says:
     April 21, 2008 at 11:42 pm Mangobeach
     MD is a special kind of liar those anointed with bibleverse (the worst kind )
     Unlike O everyone get the the same treatment (shabby)
     U will get Ur money ………..eventually
504. Floridan Says:
     April 21, 2008 at 11:57 pm DeHustle… Mi LOVE that talk…Is true, who DS think is him fren is not really him fren… Me a talk bout the top-a-top them… Them just using DS to make their millions and see it deh… Them encash the whole thing and cause pair problem… Meanwhile, is we the likkle man and woman them with our likkle smalls a defend him to the teeth… If him stop and check, is we is him true fren dem, yet him nah deal with us right…From what I know, “old money” always defend “old money” people and while “new money” may even get bigger than some of the old money people, them same old money people is one bag of hypocrite, in that them will laugh and smile and dine with you, but you will never truly be accepted into that group…

     DS is obviously new money and the old money people just a use him to make more and more and when them ready, them just draw the whole thing…

     Come back to us Dave, low them make them gwaan… We want to make new money too and we will gladly welcome you with open arms into our group… So just come level with us and make us know what really a gwaan… That’s all we ask.

     If is lose you lose off some trades, nuh worry bout that, we benefit nuff times so we must expect couple bad trades… A so the business go… But we also know you have the talent to rally back… So if is that really a gwaan, come straight and we will work with you…

     But this silence thing from yuh, no sah, it nuh right…

505. thanks Says:
     April 22, 2008 at 12:28 am Who O broker? In his communications he makes reference to trouble with broker. Who is the brokers anone knows?
506. jordan Says:
     April 22, 2008 at 2:36 am @everyone:Been noticing people mentioning that some investors are
     being paid “on time” at WW, therefore it means all is well.Well Mr Strachan has lots of friends, and as such his team
     allows them back door access. I’ve seen it everytime I go
     there (every month).

     From what I can tell, the SEEM to be rich or upper class
     people. The less fortunate class of people get screwed
     week after week, like me. I finally decided to pull out
     as I can’t tolerate the crap that goes on there. It might
     very well be stable, but I don’t have the time to waste
     every month in a long line and no parking space !

     Lots of people are pulling out NOT specifically because of FSC
     but rather because of the Really horrible service there !
     And they keep telling investors that they are working on it
     blah, blah,blah, and every month its a newer ‘crap’ policy
     in play.

     Can anyone confirm that MAY DAISY has crashed ? Heard that
     one of the key person was arrested after wiring out
     Millions of US dollars to Africa and uttered forged documents
     to authorities !!! And please take note, not to pay too much
     attention to online balances from these unregulated schemes.

     Even if the balance is “correct” does not mean anything IF
     you cannot withdraw your money. WW always posted the wrong
     amount in my account but after some amount of waiting and
     fighting, I usually do get my monthly interest. MY balance
     at Cash(-) was always up to date,BUT as you can see, it means
     little or nothing now (LOL).

     Investors should file a complaint against Cash(-) and Higgins Warner with the police as soon as possible. This will help expedite the recovery of your lost funds. The media reported that the police only received 4 claims so far. This is very bad, as it is sending a message that investors are OK with losing their money !!! THE POLICE WILL ONLY TREAT THE MATTER WITH SERIOUSNESS IF ENOUGH PEOPLE FILE a COMPLAINT. Carlos Hill nor Higgins fellow will never pay back your money unless they are backed into a very dark corner. Don’t wait until its too late again.

     FYI: It turns out that Higgins did operate the same pyramid
     scheme years ago at the Red Hills Trade Centre (KGN) and ran off
     with investors’ money then. Now they did it again from Mobay.

     Swisscash seems to be back in business again. Minvestment has
     gone completely. A3 union back up, under a new website.

     Its a cat and mouse t’ing !!!

507. unreal_investor Says:
     April 22, 2008 at 6:11 am Floridan if I were DS I would ‘rinse’ off all that ‘old money’ before I give it back… Then I would start close off all the trouble maker accounts then stop take members once and for all…but that’s what I would do…
508. RedP Says:
     April 22, 2008 at 6:41 am #526 WanSpec
     Talk nuh man, people like myself and Dehustle need some reassurance!!
     Signed
     Stupid Money II PS Dont worry we wont buss pon yuh, in this situation ‘infahmahs’ are welcome!!
509. DR Says:
     April 22, 2008 at 7:35 am John Doe 547As far as I am concerned, it is just a matter of time before O’s accounts are closed by NCB. Final straw…..1) Unwillingness to file audited/unaudited accounts :-
     2) Being an unregistered company:-

     The case is very strong in NCB’s favor.

     Remember our banks in Jamaica have to meet the procedure for international banking standards. I know for a fact that the international finance market has been pressuring our banks with regards to “clarity”. Think & Check. (KYC)

     *************************************************88

     Seems like in MD’s case we just have to wait, one day, WE shall overcome….. Don’t know how long we will have to wait… Today is
     April 22…..call CS, no response, wrote several emails…no response…. what is going on MD?

     JORDAN #552

     Yes we know about that matter, but I’ve been informed that Miss Daisy is innocent: the case was thrown out of court. Praise The Lord.

510. Independent Says:
     April 22, 2008 at 8:28 am If anybody would be kind enough to answer, why is Olint unwilling to submit it’s audited financial accounts to NCB?
511. Dash Says:
     April 22, 2008 at 8:32 am 556
     Because Olint not a publicly traded institution period.
512. Dash Says:
     April 22, 2008 at 8:34 am Olint is a private company. Legally, they are not required to have an audited financial staement.
513. Independent Says:
     April 22, 2008 at 8:45 am 558 I agree they don’t have to provide it to the PUBLIC, but under the banking act NCB can ask them to provide it to satisfy the Know your customer/anti money laundering requirements.
     But leaving that aside,it is obvious the local accounts is important to Olint as they are fighting to keep it open in the courts. Instead of paying lawyer fees and go through bad publicity, why not just simply provide the audits and get it over with?
514. Wan Spec Says:
     April 22, 2008 at 8:49 am # 558 – Dash. That is so wrong. There are several statutes in Jamaica which supports NCBs position.
515. Wan Spec Says:
     April 22, 2008 at 8:58 am # 548 DeHustle – Most of us don’t behave like customers, that is why we don’t get treated like customers. We are prepared to put up with the slackness as long as the money is flowing. I have been part of a group which has sent numerous emails to O. I have even met David on one occasion and we have been always agitating for better customer service and transparency. To be honest, those of us who have been with Olint for a while can testify to the improvement in Customer Service, (remember the old phone system?), but doing things right just does not seem to matter to most people (customers). When things are flowing, they dont care, when things go wrong they rely on a religious type belief that ‘everything still kriss’. That kind of attitude is why the society in general is in the state it’s in. Most of us don’t appreciate the value of doing things the right way.In short, they behave the way they do because it is easier than to do the right thing and they don’t have to, because we Jamaicans really don’t care about things like that.
516. JohnDoe Says:
     April 22, 2008 at 9:09 am “Where is the proof?”….” Folks this is not a game.”Out of respect for the “Driva” and decent discussion, I will ask that we look at the reality, inform ourselves and not attack personalities.“Where is the proof”, The question is asked…

     Where is the proof that the UFOs are not a Ponzi/Scams?
     Where is the proof that ‘real’ profits are being made?
     Where is the proof of the gains from FX tradings?
     Where is the proof that your money is really being “invested”?
     Where is the proof that 70% withdrew their money Form ‘O’ following the raid?

     Let us demand openness, disclosure, transparency and get the proof and end the speculation. It is heart-wrenching to see “investors” coming with excuses, hearsay, a friend said, about the current situation. Until the proof comes,if it does, the time is right to dust off/create a emergency/contingency plan.

517. Wan Spec Says:
     April 22, 2008 at 9:56 am Paul H. When do you want to go to Braemar Ave? Let me know.Obviously some of us have to part of the solution if we want things to change.
518. DR Says:
     April 22, 2008 at 10:03 am Wan Spec:- 563I really don’t want to encourage you to create “a storm” at Braemar because I am not a member of “O”. as you know them say puss no belong inna fowl fight…however….Remember the lady at WW who ask for a cheque (part-payment), she was told that she could not get any until…… then she went for CVM, she got her IMMEDIATELY and she got ALL…and was kicked out…..

     You are still luckier than I am, because you have somewhere in JAmaica to go…I would have to travel to that land so far away in order to get my garden of daises. But then again, a group of use would put together and fly a camera man from Jamaica with us, on our journey…..

519. Patricia Says:
     April 22, 2008 at 10:04 am I am hungry can we go to the Buffet?
520. DR Says:
     April 22, 2008 at 10:04 am testing
521. Opportunity Says:
     April 22, 2008 at 10:06 am JohnDoe,Where is the proof to the contrary of all your questions? There is none either. So you are still fueling speculation. It has been said over and over on this blog. We don’t know what we don’t know. I agree with you though that people must always have a back up plan.
522. RedP Says:
     April 22, 2008 at 10:41 am Can anybody answer my question on post #498. What is the criteria to get olint B account?Patricia, you seem to know a fair bit about investing. Were you schooled in banking and finance or are you self taght?? If so where does a duncebat like myself begin?RedP
523. RedP Says:
     April 22, 2008 at 10:48 am Can anybody answer my question on post #498. What is the criteria neede for olint B account??Patricia, you apear to know a fair bit about investing. Were you schooled in banking and finance or self taught? If self taught, what advice can you give a duncebat like myself to get started??RedP
524. Investment Tech Says:
     April 22, 2008 at 10:59 am WW account has been fully updated with both balance and transactions showing the correct amount.finally.hope the dasiy will bloom like wise.
525. OneJam Says:
     April 22, 2008 at 11:00 am Hello Folks,Now in th land of wood & water. My mission if I accept it is as follows:1. Visit O and try to understand the situation. Did a recon yesterday and office was operational, no big crowd, about 10 ppl, seems to be making enquiries, everybody calm and collective.

     2. Find out more facts about CP and money.

     3. Meet with legal team and start process.

     4. Learn more about FX and how to trade.

     5. make some US$ to fund my new investments.

     Anybody want me to ask questions for them or do anything ? We move out at 05:00 hours in the morning. Request req’d by ASAP.

     OneLove JA style

526. Wan Spec Says:
     April 22, 2008 at 11:00 am # 564 – DR – I don’t believe you have to create a storm. I believe that you will be taken far more seriously if this is done in a non-confrontational manner. If you go up there and ‘gwaan bad’ that will be emotionally satisfying, but I don’t think that would ultimately accomplish anything.But as you can see by the underwhelming response to Paul H. most people could care less.
527. PEI Says:
     April 22, 2008 at 11:22 am Wan Spec lot of poster like me are not there. Thanks for going there for us to tell them that we want better service and need the truth about what happening with payments.We need dates they will stick to for us to get payments. We need to get customer service numbers that all members can call like some 1 888 you know toll free numbers. They need to tell us like if you request payment the end of January or february what week you will get your money. Tell them they need to answer emails it is very provoking that they dont.Also please tell them to stop the friend and friend things everybody money make up the club. Please stop the court case them and just use that time and money to sort out the proper running of the club. That money could build a proper site with proper info and 24/7 online chat using skype. please Wan spec tell them the patty shop need to stop. Thanks. and if they not listening then I will call Mr. Perkins even if all him can tell me is to get a lawyer.
528. Dash Says:
     April 22, 2008 at 11:29 am # 560.You show me the statue. I dont know if you are aware of the cost of an audit. If NCB begins to demand audited financial statements from all its business customers, they will completly loss all their customers. Audits are expensive. If you tell me that the statues requires all customers to provide audited financial statement in order to maintain an account, that is a balony.Again, even an audited financial statement cannot give anyone any insight as to DD, viability or other wise truthfull nature of any company. Audits are done on a statistical bases as such, NCB cannot rely on audited financials to prove the truthfull nature of a company.I can understand, If O is trying to get a loan or purchase NCB, then they have a right to demand an audited financial statement. But to maintain account, that is balony. They can request for compilation, reviewed financials but absolutley not an audited financials.
529. Mercury Vapor Says:
     April 22, 2008 at 11:32 am In Post 552 Jordan said: “It turns out that Higgins did operate the same pyramid scheme years ago at the Red Hills Trade Centre (KGN) and ran off with investors’ money then. Now they did it again from Mobay.”Hmmm…that’s interesting. So Max came to Jamaica, started a ponzi scheme, ripped off a lot of people…then, a few years later he comes back again, and does almost the exact same thing, and even more people lose money.Everyone who lost money in HW…PLEASE…PLEASE…go to the police! Don’t let this guy get away with this…because you know that in a few years…he will probably come back here and do the same thing again. Right now, he’s probably running a ponzi scheme somewhere else, most likely in some other developing country, and living well off the investors’ money he stole.
530. JohnDoe Says:
     April 22, 2008 at 11:34 am As we continue to inform ourselves and not attack personalities let us look at the following.“Folks this is not a game”, The statement is made.What kind of Game, are the UFOs playing? Dandy shandy, with the regulators instead of registering?
     What kind of Game, are the UFOs playing? Hide and seek, With the Banks instead of coughing up the documents?
     What kind of Game, are the UFOs playing? Bingo, with your money when all you getting is “pick a date and wait” ?
     What kind of Game, are the UFOs playing? Pictionary, by presenting a sketchy details and allowing the “investors” to keep guessing.

     UFOs are playing games with “investors”, when they leave the “investors” …
     a) clueless about, how much money they have under management,
     b) clueless about, that they do, what they say they do, with your money
     c) clueless about, what their fees are?
     d) clueless about about the structure & related companies of the UFO

     UFOs are playing games with “investors” not account numbers, with the very real people with hard earned cash “invested”, behind the names on the blog. The UFOs are the ones fueling speculation by their lack of disclosure, openness and transparency.

     The facts are that the “cashy” & “profitable” UFOs have offered poor customer service/support, employed delay tactics and have fought regulation, disclosure and transparency. It is even in clear in many cases, the UFOs have spun a web of lies of missed disbursement dates, easy streets and unreal returns.

     Now who is playing games? is it the detractors or the UFOs? This is what every past, present and future UFO “investor” must ask themselves.

531. danews Says:
     April 22, 2008 at 11:37 am we want to have our cake and eat it.on one hand, we commend some people who can get David Smith, on phone and meet with them, because they are his friend/cousin/uncle/etc yet we cuss when these same people cut a deal for themselves and make sure they get paid first
532. dehustle Says:
     April 22, 2008 at 11:39 am Dash U do have a point
     O did offer NCB thier management accounts and they refusde it
     I have a company account with NCb and have never been asked to provide audited financials those who do usually are trying to access credit facilities with the bank (which O is not )
     please note that NCB ia also using two line of arguments againt O , the audited accounts and the fact that they are not registered with FSC (whichever one they think will work)
     Bottom line its more about abuse of power and un fair comptetiion
     KYC is just a smoke screen
533. Opportunity Says:
     April 22, 2008 at 11:48 am JohnDoe,
     Let’s say I agree with you 100%. So what would you like us all to do? Please give us your advice.
534. dehustle Says:
     April 22, 2008 at 11:50 am danews
     I dont know about commending anyone for mere genetic or circumstantial fact that they have access to DS
     The fact is if U cant get through to someone you will use any means necessary to send a message/get info
     Also please note that DS not only determines payments directly but indirectly , when he has to some extent left up his business to other people who are running thier own show and making him look bad in the long Run
535. mangobeach Says:
     April 22, 2008 at 11:53 am Dehuslte and Jordan you have both made the point about special treatment of friends by people O and WW and I have seen, with my own eyes, what you spoke about but my resolution to this is probably different than either of you or most of the action committee. I propose that we all stay in constant contact with these entities and continue to voice opinions on the better running of their and our affairs but to refrain from large and boisterous gatherings at the mentioned premises as these may get beyond heated and end in very regrettable circumstances and/or actions!I propose that we all partake in a written document that would “clearly” codify our myriad of issues and have it delivered by a chosen group to the other S, namely Wayne Smith. He is usally ther at some point in the afternoon. He can be then asked to read and deliver to his brother and then they can reply via the net and/or in person. Essentially starting the direct dialog we all require at this time.Why this approach over the former? Because it seems to be middle way. The way that best conveys our deep anguish over the issues with clarity and precision without it turning into a TVJ/CVM moment of infamy and ugliness.

     I must say there were short moments when I also suffered deep and voracious anger over the situation. As I saw the shortcomings and goings. The inequities of dispersion being paramount of these issues. I was near explosion. What has changed my attitude is what usually changes anybodies demeanor – true calm and objective reflection.

     What did I reflect on? Basically everything up to this point that I could compare, in any way, to this scenario. When I looked back I couldn’t remember any situation that I have been in, may it be work, business and even friendship, that was not tinged if not rife with inequities. It is a part of life. I have been and am on both sides of the equation. I have waited at the back of line and been escorted around the back. I think most people, but in particular, Jamaican people have had the same sort of experiences. My experiences go beyond Jamaica though. I’ve seen it New York, Various Florida cities, Alabama, Texas and various cities of Europe. The most important thing I’ve learned though is that there are those of us that without much pesos, dargent, shillings, dough or whatever you call it, somehow find themselves at the front of the line through sheer force of personality.

     What I’m saying here is that I’ve experienced this treatment, no probably worse treatment, at the hands of our banks, government and other jamaican institutions for far less gains. I was at Century National And Eagle at their demise, to name a few. When I got the settlement check from those affairs I just left them at my desk for memory’s sake. But I’ve also seen it on other markets as well as I was the holder of a few shares of Worldcom when that went belly up. In all these situations I received scanty or no information from any authority. In fact in the case of Worldcom there were professionals pushing it up to days before it’s sudden ending.

     Yes the big O has imperfections but I can’t see how their peccadillos are worse and in some cases as bad as the status quo. They have been mostly up front and even in the cases of deception there seems some mitigating cause. For instance one of the receivers of a large sum is one of the people doing their own invesment scheme and the sum was to alleviate pressure on his clients and at probably the same slight percentage of requested funds.

     I keep contrasting the big O and their competitors, including the status quo, and they keep coming to the head of the class. As an example, when I was in Portland the other day I ran into(not literally of course) the Yacht and the big man was in town. I’ve ran into the yacht before but not when the big man was in town so I’d never seen it fully staffed. Well it was a shock to me to see what I saw. All the messages we’ve been fed by this “financial Giant” has told us how he has Jamaica’s best interest at heart. How he wants to see his people prosper. Welll apparently he wants to see them prosper from a distance as nothing non-European was working on board at the time I saw the yacht and enquired of someone knowledgeable to verify. This scene confirmed to me that a lot of garbage that I had been going through at his abnk was probably not inadvertent oversight.

     To alleviate my worries about what is going I’ve done lots of investigation and my “due diligence” always seems to balance well with what is said. I’ve heard and seen slight variances with what is said but not enough to worry. My leading philosophy in all this has been that before I invested I did an exhaustive amount of research, and nearly tried my hand at trading, so when I did hand over my funds, I was pretty aware and happy about my decision. I’m now under a lot of financial presuure but I still feel good about my decision and I will suffer some more but I can’t see a very good reason to stray from my decision to invest.

     My hope, in the end, is that we deal with this difficult time with as much calm as we can muster so that we can go on and prosper and, most importantly, spread the wealth because Jamaica needs this!!!!!! desperately.

536. Independent Says:
     April 22, 2008 at 11:54 am DashYou still have not answered the question. Why did O simply provide audited financial statements to NCB to avoid all these problems?
     You said O offered NCB management accounts what exactly is that?
     To my simple mind if they provided audited accounts this would have helped there situation, required legally or not why did they not provide it?
537. Mercury Vapor Says:
     April 22, 2008 at 12:01 pm Someone earlier had asked “Why doesn’t “O” get audited financial statements and submit them to NCB, rather than try to fight them in court with lawyers?”Bwoy, I can just imagine the millions of dollars “O” is spending on lawyers! Anyway, it got me thinking. “O” is in the Turks and Caicos Islands, they are registered there, right? Doesn’t that country have a “FSC” so isn’t “O” regulated by them? If that is so, isn’t “O” providing audited finanical statements to the TCI FSC? Does anyone know anything about this…can anyone shed some light on these questions, thanks.
538. Dash Says:
     April 22, 2008 at 12:06 pm 582I think this is the question that has to be posed to O. All I am saying is that they are not obliged by law to produce audited financial statements to NCB. My take is this, if they produce an audited financial statement, NCB will come up with something else. Again, I beleive that NCB should ask all their Customers to produce audited finacials to be fair. You cannot pick and choose who to demand audited finacials from,.
539. mangobeach Says:
     April 22, 2008 at 12:12 pm Mercury ,They are registered in the TCI and went through the requisite background checks to verify them. You or anyone can see what they went through by calling their “FSC” and look at what the requisites are for incorporation in the TCI.
540. RedP Says:
     April 22, 2008 at 12:15 pm Mangobeach, very well spoken, excellent piece.RedP
541. danews Says:
     April 22, 2008 at 12:16 pm Along with audited statements, goes proof of being tax compliant etc…point being is that if OLint begins to do everything like a bank.. good people for Customer service… Good IT and other infrastructure . being tax compliant, proper audits etc, then all of these will impact on the bottom line. the more Olint act likes the traditional financial institution, the closer will be their interest rates to the traditional institutions !!!.it is a spectrum.. blind trust .. gives him a free hand and produces the highest returns..

     more control and transparency, introduce bureaucracy and safeguards but decreases the returns…

     we pretty much sure of our money at NCB, but no one is satisfied with their returns !!!

542. Futures_trader Says:
     April 22, 2008 at 12:16 pm IS it possible to get someone with credentials on this blog to set the record straight about Olint and the jamaica banks?Everybody seem to have their own interpretation of the law with regards to olint and the banks.When I formed my company, I opened the bank account with a US bank and all they asked for was the letter of incorporation along with the necessary ID’s of the officers.

     I understand that Olint is different because even though they are a private company, they are serving the general public through these banks. As a result, I think the banks should have a vested interest to make sure the company they are doing business with also has the bank interested at heart in case any legalities arise.

     like other posters have suggested, I think that Olint is just delaying the inevitable. Either comply, or have your accounts close.

     The present environment surrounding these scheems just warrant more transparency going forward.

543. Independent Says:
     April 22, 2008 at 12:16 pm Dash,Whether it is required by law or not is up for debate and they are in the courts. I am simply speaking about a business decision taken by O. If they provided the audits it would have called NCB’s bluff, increase investor confidence and maybe even prevent the run that happened on the company. This just makes no sense to me. It is things like that, why guys like FR may turn out to be right.
     Mercury
     As far as I know the Turks jurisdiction does not require an audit.and if they did then it makes figuring out O more difficult nbecause if they have one they could have simply turned it over to NCB.
     As the days pass and Ii speak to more people my confidence in O is reducing. Something isnt adding up
544. Stress now Blessed Says:
     April 22, 2008 at 12:17 pm People-
     Let us reason together…Why is MD allowed to continue its financial relationship with Wachovia without providing what NCB is requesting. Both banks are required under regulation to KYC – it is NOT optional.Could it be that you could KYC without the provision of what NCB is asking O to provide?

     Please think and check before you respond!

545. mangobeach Says:
     April 22, 2008 at 12:18 pm Also, I was told by several ppl, that when the premiere of the TCI came to the inaugaration of the OLINT foundation he was said to have asked the interviewer why DS was not as revered here as he is in the TCI. I did not see this interview but i suppose it can b checked. The premiere was also a guest of honor at the OLINT booth at the AirJ jazz fest which I suppose can be contstrued as support fr the big O.
546. thanks Says:
     April 22, 2008 at 12:22 pm this is info regarding frozen funds in the US
     http://www.ombwatch.org/article/articleview/3632/1/407?TopicID=2
547. mangobeach Says:
     April 22, 2008 at 12:24 pm REDP, thanks.
548. DR Says:
     April 22, 2008 at 12:24 pm Mercury,O-TCI may be licensed and registered in TCI, but the Jamaica branch O-Jamrock is not licensed or registered in Jamaica….Taht is where the problem is….According to the FSC, “any” investment company seeking Jamaican clients in Jamaica, MUST be registered here in Jamaica. In other words, even if FirtCaribbean has a CI mutual fund in Israel, licened and registered there, registering 50% per annum: If they attempt to solicit funds from Jamaicans in Jamaica, they MUSt be registered with our local FSC. BTW, If you are Jamaican, living here and you have money invested even in Iraq, you should file taxes…..hah haha hahah and if you are a Jamaican living abroad and have money here in Jamaica, you should file returns to the Jamaican government……
     ********************************************

     So in other words, if you live here in Jamaica, you should file returns off your O-Jam account as well as your O-TCI account.

549. Wan Spec Says:
     April 22, 2008 at 12:25 pm # 574 – Dash. I don’t need to prove anything to you. My argument is proven by the actions of the Jamaican courts. Due to the nature of Olint’s business and the fact that they are unregulated, it is not unreasonable for NCB to want to protect themselves against charges of money laundering. Again it goes to the nature of Olint’s business.What you have is the Know your Customer, Anti-Money Laundering legislation on NCB’s side vs the Fair Competition act on Olint’s side. They are all important pieces of legislation and a court will have to look at the conflict and decide how to resolve the conflict while doing the least amount of damage. Most judges are going to say, if Olint had provided the statements and was regulated, then NCB would be out of line. They did not do this, which it would appear reasonable for them to do, so I am going to rule in favor of NCB.Of course NCB has less than honest motives for moving against Olint, but I think Olint’s argument in that regard would have been much stronger had they supplied the accounting statements, which due to the nature of Olint’s business and the ease with which it can cover money laundering, NCB is within their rights to ask for. Had Olint done that, I think the ruling of the courts would have been different.
550. DR Says:
     April 22, 2008 at 12:29 pm 591 MangoBeach:-I think you are referring to this article;http://www.jamaicaobserver.com/news/html/20071203T200000-0500_130017_OBS_OLINT_STARTS_FOUNDATION_WITH_US__M_TO_HELP_NEEDY_JAMAICANS_.asp
551. Mercury Vapor Says:
     April 22, 2008 at 12:31 pm Re: Post 585Thanks Mangobeach…by the way, nice name. I think I’ll make myself useful…I’m going to try to contact the “FSC” in TCI and find out some info on “O”. If I find out anything important, I’ll be sure to share it with the blog family.
552. Stress now Blessed Says:
     April 22, 2008 at 12:33 pm NCB could know the customer without those documents period.NCB should be required to provide substantial evidence that O is in violation of the money laundering act to require same documents. If that is not required of NCB, they could just pick any customer and ask them to provide documents, merely because they feel threatened by that company or just want to know.I don’t blame DS one bit. Show investors document for transparency thats where O/DS is required to show proof, NCB should go to HELL!
553. Independent Says:
     April 22, 2008 at 12:34 pm Mango Beach.To tell the truth I could not care less about the Prime minister of Turks. I am more interested in getting my money back, and knowing why the are not providing the statements to keep there accounts open so they can pay me.
     Olint foundation means nothing to me. This could have been another stunt just like CP football league.
554. mangobeach Says:
     April 22, 2008 at 12:39 pm Mercury, you’re welcomed and thanks.
555. mangobeach Says:
     April 22, 2008 at 12:47 pm Indie, if you want your money quickly it seems the best way would be for you to open a TCI account with OLINTTCI. This way seems to have expedited funds for some. The drawback is, as far as I know, a bit less of a monthly return. But then u aren’t worried about that are you as seem ready to clse down shop?
556. Mercury Vapor Says:
     April 22, 2008 at 12:47 pm WHAT!!! THAT IS MAX!!! The tiefing Max from HW!!! That’s what he looks like! I can’t believe it!http://www.higginswarner.comHis picture is on this page…his name is Sir Max H…!Hahaha…Sir…that’s a good one!

     I didn’t invest any money with HW, and I was never interested in investing any money with HW, so I just found this website. (I googled “Sir Max Higgins”). Here are some more pictures of this con artist!

     http://callezero.blogspot.com/2007/11/el-gran-sir-max-higgins.html

     The pictures really shocked me, I always thought Sir Max H… was a white guy. I guess when I heard Sir I just pictured an english guy in my head. And oh, by the way, who made him a knight? Hahaha…this is so crazy!

557. Bless Says:
     April 22, 2008 at 12:50 pm I just want to say ” What is the purpose of a audited statement is a extremely volatile situation?” I gave you a audited statement but the audit statement does not worth zip a day later because of the volatility of the market, one minute you are a millionaire the next minute you are a pauper.So what exactly does NCB wants? They have pressure FSC and the court to accept forex trading as a security, The only place in the world where it falls under such category. What is it secure against?According to NCB Olint is not a registered company but were they ever registered? They are doing business with them for 5 years unregistered so that agrument dont carry water.

     You guys should find out why the USA and the rest of the world place forex under the category futures and not security which was what David Smith was saying. You are dabling with probabilties (trends) so how can it be security?

     Where in the world can you buy a security that potentially can become value of zero and neither the company nor the market have not gone into bankruptcy, only JA.

     Let see if WW will get a license How many months now that they have applied and there are allegedly 20 forex companies out there and FSC has taken how many months to say yes or no to one so

     According a someone another blog the “inner circle” in JA knew of Carlos Hill conviction from around October 2006 so does that imply that NCB top brass knew from then, judging from what the person blogging there is a link there, family?.

     Doesn’t the Top brass of NCB falls into the “inner circle”?

     Was that the reason why the cambio ran by Cash Plus closed?

     And they care so much for poor people?

558. DR Says:
     April 22, 2008 at 1:00 pm Finally, we know what MAX looks like.
559. Independent Says:
     April 22, 2008 at 1:06 pm Bless, Your arguments to me makes no sense. Securities or not WHY HASNT DAVID SMITH PRODUCED THE AUDITS. If that what it takes to pay back people then so be it. I dont care about technicalities, the fact is I have rewuested my money from Mid January and since then I have been getting excuses and seen money been wasted on law suits. If he needs to be registered then he should get registered, if he needs to provide an audit then provide the damn audit.
560. Mercury Vapor Says:
     April 22, 2008 at 1:07 pm HAHAHAHAHAAAAAA!!!! On the website it says:“Higgins Warner Music and Entertainment Corporation. Invest a minimum of 1 Million U.S. Dollars for excellent returns! Please Contact Emile Max Higgins, President & CEO”Hahahaha…invest a minimum of 1 million with Max! Hahahaha…who the hell would invest that…with him…hahaha…I mean, how much crack would I need to smoke for that to sound good to me! Hahaha…no, mi a laugh too hard, mi a go dead! Yow, mi gone, mi have to go take a break, mi a laugh too much!
561. Stress now Blessed Says:
     April 22, 2008 at 1:13 pm Amen Blessed! Amen! Amen! Amen!I am in no way tolerating the foolish management of “O” but the NCB argument is RUBBISH! DS is a rebel without a cause – A the same ppl cause that him fighting – the same ppl a tell hi