#TurksandCaicosIslands – October 7, 2020 — David Smith, convicted in 2012 for being the boss of an elaborate multi-million dollar Ponzi scheme is released from Her Majesty’s Prison, Grand Turk and is today at home in Providenciales after having defeated three attempts by the United States to extradite him.
“He still has to deal
with the new application on the offence that the court already indicated he
cannot be extradited on. So he is not yet
totally out of the woods,” said Oliver Smith, attorney for David Smith.
This is not the first time David Smith, who headed Olint in Jamaica and the Turks and Caicos Islands has been released from TCI prison. In January 2015, after serving three years of a six-year sentence, Smith was surprisingly set free when it had been expected he would be immediately extradited to the US to serve out a 30-year prison term there.
David Smith’s legal team fought long and hard against the extradition and won on an unexpected and unprecedented statute.
“We are pleased that he currently does not face extradition
unless the attorney general is successful in their fourth attempt to extradite
him on the same basis and the same offences for which extradition was
previously denied for which the Magistrate’s Court ruled that the AG’s conduct in
that regard, was an abuse of process,” explained Oliver Smith.
Some in TCI had posted to social media that David Smith was seen at the airport earlier today. Oliver Smith, confirmed his client’s release, adding that they are optimistic about any coming litigation.
“We would also like to extend our appreciation to and commend the AG in making David Smith’s release a collaborative one and assisted with expediting the process. For this they should be commended as acting in the highest tradition of the Bar.”
Among the arguments was that David Smith’s extradition was unconstitutional.
David Smith, who was accused
of defrauding thousands of customers of more than US$220 million, was convicted
in the United States District Court in Orlando, Florida after pleading guilty
to 18 counts of money laundering, four counts of wire fraud and one count of
conspiracy to commit money laundering.
