Wed | Jan 23, 2019

Olint's David Smith released from Turks and Caicos prison

Published:Friday | January 23, 2015 | 12:00 AM

Janet Silvera, Senior Gleaner Writer


Unconfirmed reports state that a blunder on the part of Turks and Caicos officials has resulted in Olint boss David Smith being released from prison in Grand Turks, without being turned over to US authorities.

Smith, who was sentenced to six years in jail was set free Thursday morning, three years shy of his prison term. He was reportedly released on good behviour.

The former Jamaican businessman, was expected to serve 30 years in prison in the US, after doing time in Grand Turks.

Extradition Papers Filed Late

However, according to highly placed sources in Turks and Caicos, the papers regarding his extradition to the US were not filed on time. Efforts to get a comment from Smith's lawyer, Oliver Smith, proved futile, as the attorney said he was not commenting on the issue.

The Olint boss, who travelled from Grand Turks to Providenciales, with his wife Tracey, had no police escort. He was met by a waiting SUV outside the terminal at approximately 2:30 p.m.

He later went to visit his children at their school. "It was like a carnival, they hugged and kissed their daddy, whom they obviously had not seen in a while," said an eyewitness.

Smith was imprisoned in 2011, resulting from accusations he fleeced 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.