David Smith, CEO of Olint TCI and Olint, was arrested at 3:00 p.m. in the Turks and Caicos Islands, today.
He was arrested on five (5) counts of fraud and is currently on USD $1 million bail.
His arrest follows over 7 months' investigations into Olint's operations, by the Financial Crimes Unit (FCII) of the Royal Turks and Turks and Caicos Islands Police Force.
We are not sure if Mr. Smith was able to make bail today, as Nationwide Radio reports that he will be spending the night in a Turks and Caicos Islands prison.
We are also unsure of whether or not his assets, frozen seven (7) months ago, will be unfrozen.
However, MOU Blog will inform you of any updates re Mr. Smith's arrest and Olint's assets, as soon as they become available.
[Please use our Google Search section, entitled, "Search This Blog For Information" (it can be found to the left of our posts, and is the 3rd section from the top), to search for our previous articles re Olint and David Smith.]
Gillian
Sources Include
1) Nationwide Radio, February 6,2009
2) 8:00 p.m. News, CVM Television, February 6, 2009
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