Convicted Ponzi schemer David Smith is to challenge a ruling by a Turks and Caicos magistrate that he be extradited to the United States to serve time.
Douglas Leys, QC, of the firm Leys Smith, told the Jamaica Observer that the ruling delivered by Magistrate Clifton Warner is to be challenged.
Warner had delivered a split decision. On the one hand he ruled that Smith be extradited on a charge of money laundering, while on the other hand he refused to extradite the former Olint boss on the more serious charge of wire fraud.
The wire fraud charge carries a sentence of 20 years, while the money laundering charge carries a 10-year sentence.
Smith’s case was argued in the Turks and Caicos by Oliver Smith and Kimone Tenant of Leys Smith.
