DAVID Smith and his troubled foreign exchange outfit, Olint Investment Limited and Olint TCI, have been named as defendants in a US$11-million lawsuit filed by Yvonne Coke, who heads the not-for-profit group Hands Across Jamaica for Righteousness.

Kingston-based trader Gareth Harris and his company, Keen Exchange Limited, are named as first and second defendants in the suit, which is claiming fraudulent misrepresentation, breach of contract and "unjust enrichment" against the defendants.

In the suit filed in the Supreme Court Thursday, Coke and her Panama-based Christian group, Visions Increase SA Corporation, are seeking damages and compensation totalling $11,535,000 plus interest.

Coke claimed in the suit that monies were given to Harris for him to invest. The breach of contract, the suit claimed, occurred when Harris invested the money in Olint, contrary to what was agreed.

The suit was filed by the law firm Hart Muirhead Fatta.
This is not the first suit against Smith and Olint, who are facing legal troubles in both Jamaica and the Turks and Caicos Islands, where some of his assets were frozen.

The Observer reported in July that two local investors, businessman Michael Belcher and medical doctor Christopher Walker, filed 'fraudulent representation' suits against Smith and Olint to recover more than US$3 million.
Walker is seeking to recover close to US$2.5 million plus interest, while Belcher has sued to recover US$800,000 plus interest.

Last month, Smith issued a press release in which he advised club members that he would be able to start making out payments in another nine months.

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