Close Menu

International Ponzi Schemer Now Being Investigated in Orlando

David Smith, accused of perpetrating a $200 million Ponzi scheme, could now face up to 23 criminal counts in Orlando as a result of his scheme. Smith, a Jamaican banker, is also facing criminal charges in the Turks & Caicos. Smith convinced investors to put their money into his various companies, including Olint Corp., a company purportedly engaged in foreign currency trading. Smith found investors from all over the world, including the Turks & Caicos, Jamaica, and Orange County, FL.

Smith also faces a conspiracy to commit money laundering charge based upon his affiliation with i-Trade FX, a licensed foreign currency trading company. Prosecutors claims Smith was the major investor in the company with his contributions exceeding $2 million.

In addition to these criminal charges, a civil suit against Smith is also ongoing in Orange County. The investor who brought the lawsuit claims to have lost his life savings, approximately $2.4 million, by investing in Smith’s companies. The investor’s demand for return of his money has gone unfulfilled. The lawsuit further alleges that Smith’s companies were created solely to defraud investors.

Facebook Twitter LinkedIn Google Plus