Olint boss, David Smith was remanded into custody on Tuesday, after his bail of US$1M was revoked. Smith who has been charged with money laundering, fraud and other charges due to his involvement in an alleged Ponzi Scheme where it is believed he pocketed over US$6B.

His wife Tracy who was jointly charged, however, had her bail extended. The case against Olint [David Smith] in the Turks and Caicos seems to be moving at a snail's pace. Unlike the case with Madoff, Sanford and Earl Jones, this has become a real joke. Its been almost one year and these jokers in the Turks have not made a decision. The case has been put off several times, without a reasonable excuse. It is also interesting that liquidators were appointed to pay back persons, even before Mr. Smith's case is completed.

In the Caribbean I guess we have become used to small island politics and corruption, and the Turks and Caicos is no different. We have seen where the British have returned due to corruption on the part of the former premiere, Michael Misick, who was also a close ally of David Smith.

We only hope that this case can be completed soon, as our money is being depleted on legal fees. One way or the other, I don't expect to get back my money. Only a lawsuit will ensure that I do....