Smith

David Smith, the former boss of the embattled foreign-exchange trading club Olint, is now behind bars in the Turks and Caicos Islands (TCI).

Smith was remanded yesterday after he was taken to court on further charges in connection with the management of his Olint TCI operations.

He was previously arrested on fraud charges - theft, false accounting and uttering false documents in the British territory.

Assistant Superintendent Mark Knighton, of the TCI's Financial Investigation Unit, did not elaborate on the specific nature of the additional charges against Smith but was only prepared to say they were in connection with the management of Olint.

Knighton told The Gleaner/Power 106 News that Smith's wife, Tracy, was also arrested on similar charges but was granted bail.

He was, however, not prepared to divulge the grounds on which Smith was denied bail or the basis for his wife being granted bail.

Prior to his latest court appearance, Smith was on a US$1-million bail in the TCI after he was first arrested in February.

ceila.morgan@gleanerjm.com