Ponzi Allegedly Targeted Jamaican-Americans

FORT LAUDERDALE (CN) - A man says he lost $2.6 million in a "huge Ponzi scheme named OLINT" that targeted Jamaican Americans. He claims the scam was so lucrative that one of its operators, Joseph Issa, "used the money to purchase the Shell Oil facility in Jamaica for $80 million."

Robert Anderson sued five people and three organizations in Broward County Court: Jared Martinez, David Smith, Wayne Smith, Tracy-Ann Smith, OLINT, Joseph Issa, USIMO, and Superclubs.

Anderson claims he and his investors group put $2.6 million in OLINT, through USIMO, which is or was controlled by Issa.

"Jared Martinez and David Smith worked closely together in 2005 and onwards to create a huge Ponzi scheme named OLINT," according to the complaint.

Martinez's role was to target Jamaican-Americans for alleged "seminars for foreign exchange trading," and to promise 10 percent monthly returns, Anderson says. USIMO was used to collect money for OLINT "in a corporate structure to hide OLINT's role from U.S., British and Jamaican authorities," he adds.

He claims the defendants made "huge profits" from the Ponzi scheme, which they "marketed aggressively in Broward County," including through "feeder clubs."

In addition to the oil facility, Anderson says, Issa diverted some money into Superclubs, a Jamaican hotel corporation.

Anderson seeks $2.6 million, alleging conversion, civil theft and conspiracy. He is represented by David Rowe.

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Email *

Submit