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Friday, August 12

Olint boss gets 30 years

JamaicaObserver.com: "DAVID SMITH, the Jamaican who headed the collapsed investment scheme, Olint, was yesterday sentenced to 30 years in prison by the United States District Court in Orlando, Florida.
Smith, who was accused of defrauding thousands of customers of more than US$220 million, was convicted after pleading guilty to 18 counts of money laundering, four counts of wire fraud and one count of conspiracy to commit money laundering. US District Judge Mary Scriven handed down the sentence after hearing three hours of legal arguments and victim testimony, which was emotional at times."