- 9 - The OMK Company Trust also paid the education expenses of petitioners’ grandchildren. C. Investments in Ponzi Schemes Minutes of the OMK Company Trust trustees meeting, dated May 29, 1996, state that the trust contracted with William Joe Little (Little) of NTS to act as “Agent Trustee” to handle investments. Little was also affiliated with Fountainhead Global Trust (Fountainhead). During the course of his relationship with petitioners, Little exploited their strong religious motivations and convinced them that he was a “keen Christian”. In February 1997, petitioners traveled to Grand Cayman Island to attend meetings conducted by Little, Fritts, and Lewis Rowe (Rowe) of Zephyr International Ltd. (Zephyr). The meetings were to explain the NTS/Zephyr relationship and to promote investing through an offshore entity. Little, Fritts, and Rowe convinced petitioners that the proposed investments were sound, that Little, Fritts, and Rowe were highly qualified and licensed professionals, and that the “operation is completely legal, honest, upright and is run by men of highest integrity. Only these kind of men are so licensed under the authority of the Caymanian government which operates under British law.” As advised by Fritts, Little, and Rowe, petitioners contracted with Zephyr to form Tamarisk Operations Ltd. (Tamarisk), through which the OMK trusts invested $550,000.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011