CEO of the now defunct Cash Plus Limited in boiling hot water

Carlos Hill's informal investment scheme Cash Plus - has been under investigation for some time for fraudulent activities and he was arrested along with his brother, Bertram Hill on April 10, following a police raid of his chic St. Andrew residence in Norbrook.

On that day police conducted nine raids in upscale areas of Kingston, in their attempt to glean information needed to lay formal charges on a group that has left its investors high and dry.

A court appointed Receiver General reported that the company was broke on April 9, 2008; triggering the police action.

Hill had been promising to resume payments of monthly returns for some time now and investors who were expecting their payouts on March 31 were again asked to wait until April 14 by the late CEO and suspected swindler.

Held in custody while awaiting questioning by police, a frustrated Hill fought for his immediate release, according to former lawyer Hugh Thompson.

Posted by yardFlex at April 12, 2008 02:33 PM