No evidence Carlos Hill has US$75m

— says trustee

Friday, March 22, 2013





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.


ADVERTISEMENT




POST A COMMENT

HOUSE RULES

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT

Poll

ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT