Sorry for those who fell for this scam, but but us what it is.
Had Grenadian 'investors' done a little due diligence they would have quickly found out that Olint was in deep doo-doo in Jamaica.
It all dates back to early 2006, when the authorities sought a cease & decease order against this 'investment' company and its founder. Long story made short here - Olint then sought to move to the Tucks & Caicos away from the gaze of the JA authorities and those awakening investors who wanted their money back!
Low and behold while all of these maneuverings and machinations were were taking place, a group of 'well intended' folks set up an (Olint affiliated)operations in Spice with the obvious intent of parting Spicers from their money! What else could their reasoning be when they had to have known about the growing unrest on JA investors in this Ponzi scheme?
Oh, Ponzi schemes were outlawed in the US decades ago, for their basic intent was to separate 'investors' from their money by using late comers to the scheme to pay earlier 'investors.' Much like the Nigerian quick money schemes, if you are not greedy, chances of getting ripped-off is slim to none, but ... as they say, 'you pays you money, you takes you chances.' And those who paid into SGL took their chances, and now.. (am sorry).
Back to where I left off - apparently, a bank in Panama recently received same US$200 million in the name of the founder of Olint and did what most legit banks do, and notified the authorities in JA, TCI, USA and elsewhere where Olint and sister companies operated
or were intending to do so.
Unfortunate it is for local investors and the general public in general, the Grenada authorities up to July 8th 2008, in their great and candid 'SUPER' wisdom, did nothing to alert our hard working locals of the the pending doom with SGL/OLINT- TCI.
It is also very strange, if not baffling or more accurately, mind boggling that in his sphere of utmost wisdomry that SUPER Legal, being son of Jamaica in good standing; did nothing to alert his employers (The Grenada Public) of the sorry state of affairs with Olint in his homeland, where people were clamoring for return of their investment money in Olint.
Was the Super Legal Wizard not head of Grenada's financial authority governing body? Please correct Spiceguy if I you think I have presented you with a tall.
Noteworthy it is, that your Super Legal Wizard choose to remain quiet on this important matter, which was plastered all over Jamaica's leading papers - Gleaner, Observer, etc., for months and years.
What a Nice Fella to have had in your employ for those many years.
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