Jamaican businessman sentenced for Ponzi scam

A Jamaican businessman accused of
scamming thousands of investors in the Caribbean and Florida has been sentenced
to six-and-a-half years in prison in the Turks and Caicos Islands.

David Smith allegedly ran a
multimillion-dollar Ponzi scheme through his investment group, Olint.

He was sentenced after pleading guilty
on Thursday to two counts of money laundering and two counts of fraud.

More than a dozen other charges were
dropped as part of a plea deal that called for prosecutors to drop theft
charges against his wife, Tracy Smith.

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