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Monday, July 28, 2008
The Government of Grenada says it is closely monitoring a development in which an undisclosed number of Grenadians appeared to have lost millions of dollars in a troubled United States currency scheme linked to the investment club Olint. Depositors of a local financial institution, SGL Holdings, have been complaining that interests on their investments have not been paid for the past two months and requests for reimbursements have not been honored. SGL Holdings said the present 'challenges' being experienced emanate from difficulties facing its trader, Olint TCI, located in the Turks and Caicos Islands.
Olint TCI, owned by Jamaican David Smith, has had its assets frozen pending an investigation into its operations. |
