David Smith Arrested
The hounds are closing in on David Smith. With his Ponzi Scheme in ruins the police in the Turks and Caicos Islands have arrested and frog marched Smith before a magistrate court; where he promptly ponied up $1 million in bail money...
http://www.tcinetnews.com/news-1016--2-2---.html
Donât you just love how these Bernie Madoff types claim to be broke and bankrupt and yet always seem to have that cool million stuffed under the mattress that they can whip out on a momentâs notice? If he can produce $1 million in bail money surely he has more money stashed away. So whatâs to prevent him from hiring a private jet and fleeing to Cyprus or the British Virgin Islands to start all over again?
Still, silence from American regulators. Now that Smith has been arrested and charged with fraud surely I Trade FXâs case will be decided upon shortly? Smith was a former principal in I Trade FX who made some highly suspicious transactions with the firm. In 2007 I Trade FXâs net capital fluctuated wildly and all the while David Smith was behind the scenes cutting deals left and right. The NFA needs to clear the air once and for all.
The hounds are closing in on David Smith. With his Ponzi Scheme in ruins the police in the Turks and Caicos Islands have arrested and frog marched Smith before a magistrate court; where he promptly ponied up $1 million in bail money...
http://www.tcinetnews.com/news-1016--2-2---.html
Donât you just love how these Bernie Madoff types claim to be broke and bankrupt and yet always seem to have that cool million stuffed under the mattress that they can whip out on a momentâs notice? If he can produce $1 million in bail money surely he has more money stashed away. So whatâs to prevent him from hiring a private jet and fleeing to Cyprus or the British Virgin Islands to start all over again?
Still, silence from American regulators. Now that Smith has been arrested and charged with fraud surely I Trade FXâs case will be decided upon shortly? Smith was a former principal in I Trade FX who made some highly suspicious transactions with the firm. In 2007 I Trade FXâs net capital fluctuated wildly and all the while David Smith was behind the scenes cutting deals left and right. The NFA needs to clear the air once and for all.