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Jamaican born David Smith accused of scamming thousands of investors in the Caribbean and Florida has been sentenced to 6 1/2 years in prison in the Turks and Caicos Islands.
David Smith, who allegedly ran a multimillion-dollar Ponzi scheme though an investment group called Olint, was sentenced after pleading guilty Thursday Sept. 23 2010 to two counts of money laundering and two counts of conspiracy to defraud.
David Smith moved to this British Atlantic territory after Jamaican authorities raided his company's Kingston office in 2006 and barred it from operating in the country. He was arrested in the Turks and Caicos in 2009.