No evidence Carlos Hill has US$75m
— says trustee
THE trustee in bankruptcy in the Cash Plus case yesterday said that documents now in her possession do not support Carlos Hill's claim that he has US$75 million overseas which, he said, he wants to use to repay investors in his collapsed scheme.
"Based on the documents forwarded to our office there's insufficient evidence to support the claim that the funds are in the account," Celia Barkley told the Jamaica Observer.
"What we have does not put the liquidation process in an advantageous position," Barkley added.
Barkley's comments came as highly-placed sources told the Observer that the Financial Investigation Division's (FID's) probe of Hill's claim has left the agency with doubts.
"They have received certain information that has left them with concerns as to whether the money exists," said a source with knowledge of the probe, but who opted for anonymity.
Two weeks ago, news emerged that Hill — who is now before the court on fraud charges — had sent documents to the Office of the Director of Public Prosecutions indicating that US$75 million had become available to him and that he intended to hand over those funds to the trustee in bankruptcy to repay Cash Plus investors.
It was also reported that a foundation in the United States had sent bank records to verify the existence of the money.
But yesterday, Barkley said that the information received by her office does not take her probe any further.
The FID, our source said, is making enquiries with the foundation with the assistance of US authorities.