The preliminary hearing into the fraud charges brought against Olint boss David Smith in the Turks and Caicos Islands has been postponed until May 11.

At that time the TCI Supreme Court will determine whether Mr Smith has a criminal case to answer.

The Association of Concerned Olint Members says the postponement of the hearing is another in a long line of setbacks and delays in disposing the case.

It also said the delays fit perfectly into what it calls a pattern of legal maneuvers that are only hurting Olint investors.

When David Smith reappeared in court in the TCI yesterday, another four fraud-related charges were laid against him pushing the total to 30.

The defense, which appeared surprised by the development, had to request that the case be put off to allow it more time to assess the charges.

It’s also reported that in court yesterday it was announced that the resident magistrate who had been hearing the case was being replaced.

Frustrated with these development, the group of Olint investors says its members will be exploring several options including ignoring the trial proceedings and focusing on recovering the funds invested in Olint.

He said the association will complain to the British Government, which has jurisdiction over the TCI, if it finds that there is a deliberate attempt to delay the court proceedings.