Mon | Dec 5, 2016

Olint's David Smith released from Turks and Caicos prison

Published:Thursday | January 22, 2015 | 6:08 PM
David Smith and his wife Tracey at an airport in Providenciales today. - Contributed

Janet Silvera, Senior Gleaner Writer



WESTERN BUREAU:

Former Jamaican businessman, David Smith, has been released from a Turks and Caicos prison where he had been serving time for fraud.




Smith, the former operator of the failed Olint investment scheme, was released earlier today from a prison in Grand Turk.



He later traveled to Providenciales with his wife, Tracey.



They were taken away in a waiting SUV outside the terminal at approximately 2:30 p.m, Gleaner sources in Turks and Caicos said.



Smith, who was convicted in August 2010, was expected to spend six years in the TCI prison.



However, he has been released on good behavior without serving the full sentence.



He was also expected to serve 30 years in jail in the United States, after his prison sentence in the Turks.



However, it is unclear what will now happen, given Smith's release from the TCI prison.



Contacted a short while ago, David Smith's attorney, Oliver Smith, said he had no comment.



David Smith was accused of fleecing thousands of investors in a ponzi scheme of more than US$220 million.



Smith had pleaded guilty to 18 counts of money laundering, four counts of wire fraud and one count of conspiracy to commit money laundering.



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