Kingston, Jamaica (McKoy’s News) – Carlos Hill Gives Investors Hope: The fraud case of Cash Plus boss Carlos Hill has collapsed but Mr. Hill offered hope to thousands of investors who lost billions of dollars in his failed unregulated investment scheme. Mr. Hill did not answer many questions posed to him by reporters but promised that compensation for investors is still possible.
Prosecutor Addley Duncan a short while ago told Justice Chester Stamp that the prosecutionwas offering no evidence against Hill. The judge then ordered the jurors to return a verdict of not guilty.
According to Duncan, after the Cash Plus investments scheme crashed in 2008, thousands of people were affected and he was expecting them to come forward to give statements. However, Duncan said only 16 persons who provided a statement showed up.
Duncan also said the prosecution would be hard-pressed to prove fraud against Hill because people from within the organisation would have been needed to testify but none came forward.
Hill was charged with fraudulently inducing persons to invest in Cash Plus, which collapsed in 2008 with more than $10 billion for over 40,000 investors. Click here for more on Carlos Hill.
Contributed by Dr Colin O Jarrett
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