Jamaican fraud probe reveals links to politicians

first_img Think Tank analyzes the second round of Democratic debates What, if anything, he got for such largess is unclear, but the court finding is feeding demands for campaign finance reforms in Jamaica, where, as in many countries across the Caribbean and Latin America, political parties have no obligation to declare any funding sources or campaign expenditures. Taxpayers have no clue if huge sums are being donated by criminals or by special interests seeking favors or influence.“This affair emphasizes the need for urgent reform of the law relating to the financing of political parties,” said Lloyd Barnett, chairman of advocacy group Citizens Action For Free and Fair Elections, one of several associations pushing for legislation that would require public disclosure reports, impose contribution and spending limits and ban donations from unregistered investment schemes like that of Smith.A Florida court last year sentenced Smith to 30 years in prison after he pleaded guilty to 23 counts of wire fraud and money laundering. He was earlier sentenced to 6 1/2 years in the Turks and Caicos Islands, where his assets were frozen.Starting in early 2005, Smith built his Olint investment club by offering interest rates as high as 100 percent a year, allegedly by pooling money from investors for currency trading. 5 ways to recognize low testosterone Meghan McCain to release audiobook on conservatism, family New high school in Mesa lets students pick career paths Sponsored Stories ___David McFadden on Twitter: https://sp2.img.hsyaolu.com.cn/wp-shlf1314/2032/IMG5564.jpg” alt=”last_img” /> read more

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