THE fraud trial of alleged ponzi schemer Carlos Hill is scheduled to start in the Home Circuit Court on June 13.

The date was set yesterday when Hill, the former head of the failed Cash Plus scheme, appeared in court. An April 15 date was also set for the matter to be mentioned before trial to ensure the serving of the relevant documents in the matter.

Hill, who is on $15-million bail, will face trial on a charge of fraudulently inducing persons to invest, which could land him seven years behind bars if convicted.

The charge stems from the collapsed billion-dollar alternative investment scheme that Hill operated five years before its collapse in 2008.

Even if Hill is acquitted in the Home Circuit Court, he would still not be out of the woods, as he and brother Bertram Hill and former Cash Plus executive, Peter Wilson are up for prosecution in the Half-Way-Tree Resident Magistrate’s Court on charges of obtaining (money) by false pretence, conspiracy to defraud and fraudulent conversion.

Carlos Hill is facing 15 counts of fraudulently inducing people to invest, four counts of fraudulent conversion, four counts of obtaining money by false pretence and one count of conspiracy to defraud.

The three men were arrested and charged in April 2008 following complaints by several investors in the unregulated investment scheme.

Hill is also facing several multimillion-dollar lawsuits from investors in the scheme.