News Byte: Carlos Hill to Be Charged for Fraud!

At a press briefing held at 10:00 a.m. this morning, Assistant Commissioner of Police (ACP) Les Green, head of the Organized Crime Investigation Division, (the division of the Jamaican Constabulary Force that is leading investigations into the operations of Cash Plus Ltd.), reported that the raid on Carlos Hill's premises, last Thursday, has yielded numerous information.

(Carlos Hill was Chairman of Cash Plus Ltd., an Alternative Investment Scheme in Jamaica, which after three months, could not meet its debt obligations to its clients/lenders.)

He reported that Cash Plus was in fact a Ponzi Scheme...that they in fact had 106 affiliates, worldwide, in addition to 80 companies directly linked to Cash Plus, and that Carlos Hill has numerous assets outside of Jamaica:

Including Turks & Caicos Islands, China, Dominican Republic, Ghana, British Virgin Islands, Spain, Kuwait and the Netherlands.

ACP Green says that mutual assistance is being sought from these countries.

Examples of the amount of monies found in Cash Plus accounts, are as follows:

• US $1 billion in one account alone
• US $2.5 billion in five (5) accounts
• US $450 million
• US $100 million

Preliminarily, it may seem that Carlos Hill may have sufficient funds outside of Jamaica, to return monies owed to Cash Plus clients.

ACP Green said that Carlos Hill is to be charged on conspiracy to defraud and fraudulent conversion of funds.

We are not sure if these are the full charges to be laid on Mr. Hill and what charges, if any, will be laid against his brother, Bertram Hill and Cash Plus CFO, Peter Wilson.

The men are to appear in court on Thursday.

The men are to be represented by lawyers: Hugh Thompson, Mr. Hill's defense lawyer from the US; Churchill Neita and Mrs. Valerie Neita-Robertson.

To find all our previous posts related to Cash Plus, please type in "cash plus" in the Google Search box, found to the top, left-hand side of our posts, select, "www.girlwithapurpose" , then press the "Search" button.

Gillian

Sources Include:

Nationwide Radio April 15, 2008