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Olint's David Smith sentenced to 30 years

Published:Thursday | August 11, 2011 | 12:02 PM

David Smith, the convicted operator of the Ponzi scheme, Olint, has been sentenced to 30 years in prison.

Smith pleaded guilty to 23 counts of wire fraud, conspiracy to commit money laundering and money laundering.

He tricked investors out of more than US$220 million.