US-based Jamaican attorney, David Barrow, in an interview on Nationwide Radio last week, suggested that Olint investors go to court to try to have the courts appoint a Receiver, so that investors can get back some of the monies from the failed investment scheme.
He said that this is the only means of them retrieving some of their lost monies.
This is in light of the statement made by Godfrey McAllister, chairman of ACOM - the Association of Concerned Olint Members, who had invited Olint investors to sign up with the US District Attorney's Office to enable them to get some of the US-based $128 milion that has been recovered- Mr. McAllister said that the process has proven to be very onerous.
Translation...going that route may not have been as promising as it first seemed for ACOm's 1000+ members.
May I just offer some friendly advice to Olint investors?
Please be very cautious re letting the courts appoint a Receiver to retrieve your monies.
...Remember the:
1) Cash Plus Receivership example?
The first Receiver - Kevin Bandoian, a US Chartered Accountant with PriceWaterhouseCoopers, was appointed, then replaced by the present one - Hugh Wildman and those investors have not seen a cent.
Yet the Receiver and his staff are being paid to try to locate monies, to be paid to investors.
The services of Receivers don't come cheap and you may just find that your recovered monies will be used to pay him/her and his/her staff and you never see one red cent.
(When we last heard, Hugh Wildman had a court issue with PriceWaterhouseCoopers due to them charging Cash Plus investors $200 million for the 45 days' work enacted by Mr. Bandoian)
2) Olint TCI Receiver example?
...when we last heard, that Receiver - Joseph P. Connolly of PriceWaterhouseCoopers, could only manage to recover US $13 million - this was way back in July 2009.
Yet he was going to the courts to ask that monies recovered be released to pay him and his staff.
Please seek legal and finacial advice re the best way to go about recovering your monies from the US $128 million that has been found in the US.
This may be your only true hope of getting back any monies, unless a qualified lawyer/financial adviser with requisite expertise of successfully recovering monies for investors in these matters, can tell you otherwise.
Gillian
Sources Include
1) Nationwide Radio, August 11-12,2011
2) Article,"Cash Plus Liquidator Takes PricewaterhouseCoopers to Court - Yawn! ", March 31.2011
3) Article,"David Smith Indicted in the USA!", August 18,2010
4) Article,"Cash Plus Case Postponed, Hugh Wildman's New "Discovery"" ,April 7,2010
5) Article,"Olint Update: US $13 Million Identified, for Olint TCI Investors, Only? ", July 22,2009
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