Reuters: "(Reuters) - A Jamaican financier who ran a Ponzi scheme that defrauded thousands of investors in Florida and the Caribbean out of more than $220 million pleaded guilty on Tuesday to fraud and money laundering charges in a U.S. court.
David Smith was extradited last year from the Turks and Caicos Islands after being sentenced to six-and-a-half years in prison on similar charges.
The case marked the latest Ponzi scheme to affect investors in Florida already hit by fallout from the massive fraud scandals surrounding convicted Wall Street swindler Bernard Madoff and accused Texas con man and financier Allen Stanford.
David Smith was extradited last year from the Turks and Caicos Islands after being sentenced to six-and-a-half years in prison on similar charges.
The case marked the latest Ponzi scheme to affect investors in Florida already hit by fallout from the massive fraud scandals surrounding convicted Wall Street swindler Bernard Madoff and accused Texas con man and financier Allen Stanford.
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