Extradition threat looms as David Smith leaves prison
Published:Thursday | October 8, 2020 | 12:15 AM
WESTERN BUREAU:
Former Olint investment boss David Smith has been released from prison in the Turks and Caicos Islands (TCI), but his lawyer, Oliver Smith, says he is not out of the woods as extradition to the USA still hangs over his head.
Smith, who was incarcerated for more than 10 years, was released on Wednesday.
The lawyer has described the former Olint boss’ legal woes as an ordeal that should end now so that he could get on with his life.
David Smith served time for fleecing thousands of investors of more than US$220 million in a Ponzi scheme.
In 2010, Smith pleaded guilty to 18 counts of money laundering, four counts of wire fraud, and one count of conspiracy to commit money laundering.
He first served six years and a half years behind bars and was released for good behaviour but returned to prison for an additional four years for money laundering, for which he was sentenced in the United States.
His lawyer remains optimistic and elated to have his client home but noted that the journey was not yet over.
“We have that other extradition that the US is appealing,” Oliver Smith told The Gleaner.
The US lost the extradition case but is still hoping to convict Smith on wire fraud.
Quoting TCI Attorney General Rhondalee Braithwaite-Knowles, The SUN news outlet said Smith would likely be rearrested in the event the US is successful in its appeal.