So the judge handed down his judgment on the highly publicized case of former head of failed investment scheme David Smith yesterday.
Smith was sentence yesterday in the Turks and Caicos island to 6.5 years after pleading guilty to two counts of conspiracy to money laundering and two counts of conspiracy to the fraud in the Turks and Caicos Islands.
Apparently this development has not gone down well with investors of the failed scheme who lost millions of US dollars when the company went under. Urban Islandz spoke to an investor who said he is a part of a group of investors that are not amused by the light sentence and will be looking to take things further.
“We are outraged by the light sentence handed down by the judge, this man took away millions from investors and only walk away with 6 and half years behind bars, we need to see more than that,” the investor told Urban Islandz.
Now tell us what you think of the judgement
comment below
What did his wife get charge for?
It’s no justice. Investors have work hard for more than 6 years to let him come and rob them off their life saving. 6.5 years is not justice he should get a good 20 or more Madoff got lifetime, because the US know how to give justice!! On top of that Olint Liquidation claims that a$$ets are frozen and they are getting paid for doing nothing. I guess they will stop get paid when the funds that are frozen are done. Is it fair that invetors get zero while Con – ellie gets paid for nothing? way we money going?
The punishment of 6.5 years certainly does not fit the crime. David was involved in fraud where he lied to investors about conducting forex trading, where he simply provided false monthly statements to investors (showing false high monthly gains) and where he guaranteed 80% of the investment. David and Wayne Gilbert Smith consistently lied to investors to have them place and keep their funds with OLINT. There is no way that justice will even appear to be served with this 6.5 years sentence, where David won't even serve three years. Look at all the investors who are financially ruined and some will never have a chance to recover from this tragedy. Yet David and his family will get to continue living lavishly on the investors' hard-earned monies. There is no justice in this!
The punishment of 6.5 years certainly does not fit the crime. David was involved in fraud where he lied to investors about conducting forex trading, where he simply provided false monthly statements to investors (showing false high monthly gains) and where he guaranteed 80% of the investment. David and Wayne Gilbert Smith consistently lied to investors to have them place and keep their funds with OLINT. There is no way that justice will even appear to be served with this 6.5 years sentence, where David won't even serve three years. Look at all the investors who are financially ruined and some will never have a chance to recover from this tragedy. Yet David and his family will get to continue living lavishly on the investors' hard-earned monies. There is no justice in this!
This crook only get 6 years. nosa dem shouldn’t gi him nutten less than 20 years. foolishness mi loose 10 grand US and mi almost mad
This crook only get 6 years. nosa dem shouldn’t gi him nutten less than 20 years. foolishness mi loose 10 grand US and mi almost mad