Fifteen names surface in Turks and Caicos land scandal

PROVIDENCIALES, Turks and Caicos Islands -- According to reliable sources, the names of 15 people have surfaced in connection with the sale of 2,500 acres of Crown land on Middle Caicos -- reported to be the largest, yet secretive, sale of Crown land in the history of the Turks and Caicos Islands.

A team of investigators is reported to be traveling widely to interview the individuals in question.

The land was transferred to a corporation reported to be owned by a Miami-based developer after the 2007 election and, with only a 50 percent down payment, freehold title was granted. The second payment was due on February 11 of this year but it is unknown if it was paid.

Sick out shuts down TCI airport

Flights into and out of Turks and Caicos Islands are cancelled as firefighters take part in sick out action by civil servants that also affected other government departments.

PROVIDENCIALES, Turks and Caicos Islands, Friday March 25, 2011 – A sick out by civil servants paralyzed the Providenciales International Airport yesterday and prevented flights in and out of the Turks and Caicos Islands. And the government and tourism officials warn that the action could have devastating, far reaching consequences for the British Overseas Territory.

The Turks and Caicos Islands Airports Authority was forced to suspend operations into and out of the country as firefighters at the airport took part in the Civil Service Association (CSA)-sanctioned action.

While response to the CSA call was “patchy and caused minimal disruption to most areas of government”, according to a statement from the Government Press Office, the firefighters at Providenciales International Airport who were among those who chose to stay home delivered the hardest blow.

Jamaican made vehicle to be exported to Turks and Caicos

Excel Motors Limited, the only local car manufacturing company in Jamaica, is currently preparing to export three models of its Island Cruiser motor vehicles to the Turks and Caicos Islands.

Director of the Westmoreland-based Excel Motors, Patrick Marzouca, has indicated that the vehicles would be leaving the island in the next two to three weeks, once all the necessary mechanical and body work is completed, announced Jampro in a press release on Friday.

A model of one of the Island Cruiser motor vehicles to be exported to the Turks and Caicos Islands. 1/1

Marzouca created local history in 2003 when he launched the Island Cruiser — a comfortable two-door vehicle mounted on a fibreglass chassis and equipped with a 1.5-litre Japanese-made engine. The Island Cruiser was first exported to the Bahamas in August 2003 and Marzouca noted that the quality of the vehicle was the main factor that continues to spark great interest from overseas.

"The buyer said he saw the vehicle being driven around in Turks and Caicos for the past seven years and he was impressed by its quality and durability. When he contacted us we quickly began the preparatory work on three cars from our existing fleet," said Marzouca.

Marzouca pointed out that the vehicles were sturdily built to stand up to the conditions of the Jamaican road and the conditions of coastal areas in the region, adding that the fact that the vehicles were undergoing light refurbishing at a fraction of the cost of new vehicles is evidence of its endurance and value. He disclosed that an evaluation conducted by the Revenue Protection Division (RPD) quantified the value-added features of the Island Cruiser at an impressive 64.5 per cent. He also noted that the Island Cruisers come in both manual and automatic transmission with hard or soft tops and optional air-conditioning.

Marzouca built the first body of the island Cruiser in 1999, and in 2000 he produced a line of vehicles. For the 2003 line, he secured the expertise of senior German automotive engineer Hans Fleischer with the help of JAMPRO through the Senior Experten Service (SES) of Germany. SES is a non-profit association that promotes vocational and technical training, continuous training and qualification of experts at the national and international level. With the help of Fleischer, the Island Cruiser was able to meet the very stringent requirements for certification from the Bureau of Standards of Jamaica. JAMPRO also provided vital assistance to Excel Motors through the European Union-funded Trade Development Project (TDP), in the form of grant funding and technical support.

"I must thank the staff of JAMPRO for supporting me through the years. Also, if not for the German government, the Island Cruiser would not be what it is today. We benefited from a lot of technical assistance and they stood behind it. The result is an excellently manufactured vehicle," said Marzouca.

Read more: http://www.jamaicaobserver.com/business/Jamaican-made-vehicle-to-be-exported-to-Turks-and-Caicos_8170634#ixzz169QbVAuo

Olint boss in US jail

FORMER Olint boss David Smith was yesterday taken from a Turks and Caicos Islands prison, where he was serving a six-year prison sentence, and flown by United States Marshals to Florida to face a number of charges, including wire fraud and money laundering.

Smith, who was being held in a Florida jail, is expected to appear in US federal court in Orlando as early as today or early next week, to answer to 23 charges, attorney Oliver Smith (no relation), told the Observer yesterday.

SMITH... former FX trader 1/1

"I'm now in Orlando awaiting his arrival. I am hoping that the matter will be listed for hearing tomorrow [today], or the latest Tuesday," said Smith.

Smith said the move was expected as it was his client's desire for the process to be expedited.

If convicted, David Smith faces up to 20 years in federal prison on each count.

Yesterday, attorney Smith said he was awaiting the disclosure of evidence from federal prosecutors so his client can determine whether or not to fight the charges.

The development comes two months after the former foreign exchange trader was sentenced in the Turks and Caicos Islands (TCI) to six-and-a-half years' imprisonment in relation to his handling of millions of dollars in investors' money.

Smith had earlier pleaded guilty to money laundering and two counts of conspiracy to defraud. He made the plea, in part, to protect his wife Tracy, with whom he was slapped with a slew of charges on the British territory two years after leaving Jamaica under legal pressure.

Smith, whose assets were frozen in the TCI, is facing several multi-million dollar lawsuits in Jamaica and the TCI from disgruntled persons who were attracted to Olint's promise of 10 per cent interest per month on their investments.

In the US, federal prosecutors say more than 6,000 people from Orange County, the Turks and Caicos Islands, Jamaica and elsewhere invested in Smith's companies, including Olint Corp, with the promise of a 10 per cent monthly return on the invested sum.

According to documents filed in the US court, it is alleged that Smith failed to invest the money as promised and paid returns to some investors from their own funds, or money paid by later investors.

The court documents also alleged that Smith transferred millions of dollars to his personal bank accounts, which he allegedly used to finance a lavish lifestyle.

Prosecutors are now in the process of identifying and seizing US$128 million, a Windermere, Florida home owned by Smith's sister, jewellery, gemstones and precious metals and any other items that can be linked to the scheme.

Court documents also claimed Smith had ties with i-Trade FX, a Lake Mary company that was licensed to deal in foreign currency trading.

Observer.