'Olint victims have no interest in sentencing'
Published:Thursday | August 11, 2011 | 12:00 AM
Livern Barrett, Gleaner Writer
The group that represents Jamaicans who lost millions in the Olint Ponzi scheme said yesterday that it had no interest in the sentence to be handed to David Smith in a United States courtroom today.
Godfrey McAllister, head of the Association of Concerned Olint Members (ACOM), said the group has "absolutely nothing" to gain from any sentence imposed on Smith.
In fact, McAllister said a short sentence for Smith, who pleaded guilty to wire fraud and money-laundering charges arising from the collapse of Olint, could be to the advantage of the hundreds of Jamaican investors.
"The quicker he can get out of prison, the quicker we can get our hands on him because we believe he either knows where the money is, knows where the money has been sent or has the ability to trade the money all over again," he told The Gleaner yesterday.
No use in prison
"He is of no use to us in prison. If we have access to Mr Smith, we believe over a period of time we can get back a significant portion of our money," he added.
McAllister said, as requested by the victim support unit in the US Attorney's office for the Middle District of Florida, more than 300 Jamaicans submitted claims through ACOM hoping to benefit from any settlement arrangement.
However, he said to date there has been no response from that office.
"The district attorney's office still is not saying how much money they have and there is no way of knowing how much they have," he said.