Not surprised by US probe says Smith’s lawyer

The legal team representing David Smith, former OLINT boss, has welcomed reports that the one time head of the failed investment scheme is among a list of 15 Jamaicans under investigation by the United States (US) authorities for alleged money-laundering.

Mr. Smith's lawyers are awaiting the details of the court order which gives the go ahead for the probe to take place.

A judge has given the local authorities the green light to investigate the Jamaican accounts of Mr. Smith and other persons named on a list submitted by the US government.

Investigation welcomed  

Oliver Smith, the lead attorney for the David Smith, says he was not surprised by news of the court filing.

However, in an unexpected response, Mr. Smith said he welcomed the probe as it will give his client a chance to clear his name.

“We’re not surprised by the filing given the fact that my client was trading in US dollars, so we’re not surprised that there is some interest by US authorities. Not only are we not surprised, but we welcome it as we see it as a step towards finally resolving the matter,” Oliver Smith said.

David Smith was arrested and charged last year with fraud and money laundering in the Turks and Caicos Islands following OLINT's collapse.

All his assets and those of OLINT have since been frozen.

In December a court issued an order restraining him, his wife Tracy Ann Simone Smith and his brother Gilbert, from selling or dealing with any of their assets or assets held by them on behalf of other persons.

BoJ to disclose banking info of persons on the list

The Director of Public Prosecutions, acting on behalf of the United States Government has obtained a court order giving local investigators the power to dig into the accounts of the former OLINT boss and a long list of individuals and companies.

The application which was made under the Mutual Legal Assistance Act, requested the sharing of all documents, records and articles relating to the accounts of the individuals named and their companies.

The Bank of Jamaica (BoJ) has been instructed to disclose the information.

The BoJ, which regulates the financial sector, is in turn expected to instruct one of the country's major financial institutions to turn over the documents and information on the accounts.

High profile people on list  

Among those also under investigation are Mr. Smith's wife, brother, OLINT, OLINT Foundation and OLINT Corporation.                      

The son of a major figure in the governing Jamaica Labour Party is also on the list submitted by the US authorities.

The American Government says it also wants to look into the accounts of a petroleum company and a major figure in the football fraternity as well as several well known Jamaican business persons.