Letters – Who killed Cash Plus?
published: Thursday | March 20, 2008
THE EDITOR, Sir:
I, like so many other Jamaicans, continue to be concerned that there appears to be no early resolution to the crisis facing investors in Cash Plus.
With the Financial Services Commission (FSC) having exercised its regulatory authority – despite earlier boasting by the Cash Plus boss that they could not be closed down – one would have thought that every effort would have been made to ’straighten up and fly right’.
It is being reported that the FSC is still awaiting necessary documentation from Cash Plus, in order to process its application for a licence.
In the meantime, there is no meaningful word from Cash Plus to its investors as to when they will receive their money.
The March 31 date was just a promise, with no real intent. One is therefore left to conclude that there is no urgency on the part of Cash Plus, while their investors languish.
The average Jamaican is blessed with an abundance of patience, but which, if pushed to the limit, becomes explosive beyond measure.
I would caution the Cash Plus management to immediately seek to conform to the regulations, while at the same time, keep their investors advised of their progress.
To do any less, will only confirm my suspicion that the management of Cash Plus, is less than honourable.
I am, etc.,
Less Cash
Kingston 8
14 responses so far ↓
MI-MONEY // March 24, 2008 at 8:00 pm
Cash Plus has had all th etime in the world to make the necessary adjustment to pay investors back thier money. I do not advocate violence but some of the big wigs need some physical handling!. This is beyond bull crap. W e need to be paid now. Cash Plus says they are asking investors to wait. This is not “asking” this is “telling” you to wait because you have no choice.
The government needs to step in, unfortunately when blood runs, it’s the bwrong people who bleed.
PAY MONEY NOW // March 27, 2008 at 9:36 pm
Three months Carlos ask for three month him get. If him dont stick to his plann him must remember bodyguards will not make him safe any where in Jamaica or in any part of the world.
Sharon a victim of cashplus // April 3, 2008 at 4:55 am
I feel that Mr. Carlos Hill is full of bologna…. Cashplus had more than enough time to go ahead and do what is needed in order to keep the investors money safe. Cashplus had no intention of paying any one. How convenient for them to file for receivership a day before payout is due. In America, we know this as bankruptcy…. Once this receivership is filed we will soon hear on April 14th another story. Cashplus is every bit of what Lee Chin stated. It’s a fraud… A pyramid scheme, that makes money off of new investors.. Unfortunately myself and others didn’t find out about it earlier. US government need to come down to Jamaica and lock up Carlos for those people he owe money to in America for the same slackness……
nads // April 3, 2008 at 9:49 pm
RE: MI MONEY. Without a bank account cash plus cannot return principal nor interest!!!! NCB and the commercial banks made sure of this so they could get rid of them!!! Dont you see what’s going on here? This is their way of getting rid of the “problem” because people were moving their monies from commercial banks to these alternatives!!! It’s all a plan. With these businesses out of the way these banks can return to taking advantage of us because we have no choice!!! We need to start considering global options so these banks dont think they have the jamaican people where they want them!!! There are many countries that will welcome off shore accounts!!!
poor woman a cry // April 10, 2008 at 3:29 pm
i need my money poor single mother trying with my hard earn cash ,mr hill need to sell his assets and give us our money me need me money bad.
M.Brown // April 10, 2008 at 5:28 pm
yuh really think a bank account is the problem!!!
where is my money cash plus?? that’s what I want to know. I want back the money I gave cash plus and guess what – neither ncb nor fsc has it!! So whoever want to cuss and blame them go ahead – actually I do blame fsc – where were they when I invested with cash plus? Why did they wait for us all to put our money in there before telling us something was wrong?
Where is carlos hill in all of this?
poor woman a cry // April 12, 2008 at 8:06 pm
the F S C waited too long to take down the criminal element ,he had no intention in paying out the money the villain sit on the tv with his fraud self tell we the investors pure lies ,all this time he was buying time to do his criminal act,they need to sell every single thing he own and pay us ,he let us down mi cant stop cry fi me savings me dreams of owning mi home gone him thief it.mi want a roof over me and mi pickneyhead ,THIEFING HILL MI WANT MI MONEY.
Miss Shaw (Boston, MA) // April 15, 2008 at 3:39 am
Carlos Hill is a master mind criminal. He plan this from the beginning. The reason there is no money to pay back the investors is because he laundered the money out of the country by shifting the money to various countries under different names. It is going to be almost impossible for them to figure out where he hid the money. He was paying the 10 percent from investors who allowed their money to sit for periods of time. When people have children, don’t just pray that your kids are smart. Pray that they are descent, caring human beings. Carlos Hill is very smart and wicked man. He was smart enough to deceive thousands of poor people. The only question I have is, “why did it take the JA government so long to shut down this illegal operation?” With all the educated people in JA, it should not have taken this long to figure out what Mr. Hill was up to. A huge red flag should of went up the very moment cash plus hesitated to produce financial statements to the regulators. If they gave Carlos Hill a few more years, he would of wiped out Jamaica and left the country in a devastating state. Notice that he leased his home and did not purchase a home. Poor people please listen, “The rich will always try to get richer off of the poor!” Shame on you Mr. Hill! Shame on you!
Fairy // April 18, 2008 at 6:48 pm
I too think that Mr Hill had no intention of giving us a cent. If he is so noble…where is the money he has for us? Despite the gian this is for NCB…they did what the did to protect their business. Carlos did not make them look like the wicked ones after all. He showed us that he is the thief. He did exactly what NCB and FSC was trying to prevent…lost to poor people…
Carlos Hill….you should be ashamed that we Jamaicans had confidence in you, cheer you on in you battle with NCB, still give you our money in good faith despite all those FSC ad…and this is your thanks????? You are a WICKED man and should be punished for conning your own people this way!!!!!
Jay // April 22, 2008 at 4:22 am
Carlos Hill was able to dupe the Jamaican people because they are too gullible! Why would you invest your money with someone who is a known THIEF and CONVICT! the man did time in prison in the USA for the same thing and you invest your money with him!!!! then you want to blame the NCB? He and several others defrauded people in the US of several million, but he was the only one who went to jail, he made a deal so as not to be deported, then came to Jamaica to take up where he left off in the US. Everyone was caught up in the 40% interest (I’m told) and didn’t look at the “big picture”…just another sophiscated Pyramid/Ponce scheme, which Carlos Hill is very good at. I hope the investors/depositors get back their money, but won’t hold my breath….it’s a real shame!
Fairy // April 23, 2008 at 4:00 pm
Jay, most of the Jamaican people did not know Carlos was a THIEF and Convict until it came out in the press. If it wasnt for the reported that had it published in the press we would still be in the dark about that conviction in the USA. Its a shame that he could come here and start business with a record like that. This shows how sloppy our system is!!!!! I hope we learn a lesson here though…..check out the background of the persons we are giving our hard earn money to. He came to us as a wolf in sheep clothing. Blaming NCB when he is the big THIEF. I too hoep the investors/depositors get back their money, but like you Jay….I wont hold my breath
Jay // April 24, 2008 at 5:01 pm
what about David Smith a jamaican who since move here in turks and caicos from jamaica and is doing the same money Laundering here ?will he be investigated along with michael misick and few other turks islander. i no?
TOBEFREETOO@YAHOO.COM // April 28, 2008 at 7:29 pm
Folks…David Smith was the originator of a very sound business model that others have siezed upon. Foreign currency trading (FOREX) is complex to those of us who don’t understand it. This remains OLINT’s core business…and not a single person has lost one cent to date! Carlos Hill saw his “opportunity” in CashPlus when he lowered the amount of $$ needed to get in. This way he could continue to get plenty new suckers to fleece. Every week he was “supposedly buying a new business” and could never tell anyone what his clients’ capital was really invested in. THis was a con man from day one; he spent time in jail in New Jersey for swindling hundreds of people out of millions of $$. This is in the public record! Anyone who was savvy enough to “Google” him never invested a penny in his pyramid scheme! Please do not mention this thief and con-man in the same breath as David Smith.
revenge // September 19, 2008 at 12:19 am
batty bwohy fi dead no care how much batty guard u have around yu