U.S. wants David Smith extradited

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International news agency Reuters is reporting that US authorities want to extradite David Smith, former OLINT boss, from the Turks and Caicos Islands for his involvement in one of the Caribbean's biggest financial fraud cases.

The report quotes a US law enforcement official.

American prosecutors have filed criminal charges against Mr. Smith, who is currently under investigation but on bail in Turks and Caicos Islands.

Mr. Smith faces fraud, money laundering and other charges in the British territory.

John Briggs, Deputy senior investigator of the Turks and Caicos Islands’ Special Investigation and Prosecution Team, says it is alleged that Mr. Smith ran a Ponzi scheme involving US$300 million.

In a court filing earlier this month in Florida, prosecutors said Mr. Smith defrauded thousands of investors from Jamaica, the US and other Caribbean territories, promising them monthly average returns of 10%.

Mr. Smith is due to appear in a Turks and Caicos Islands court on September 28 to answer fraud charges.

Jamaican authorities shut down OLINT's offices four years ago, but Mr. Smith moved on to operate out of Turks and Caicos Islands.

 

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