‘I never got a red cent,’ witness says in Carlos Hill trial
KINGSTON, Jamaica – The first witness in the fraud trial of former Cash Plus boss Carlos Hill this morning testified that he invested $120,000 and lost it all in the ponzi scheme.
The Portmore taxi driver said he invested the money in September 2007 and was told that he would receive 10 per cent interest. “But that never materialised, not a red cent,” he told the court adding that he also lost his $120,000 principal.
Under cross examination by attorney-at-law Deborah Martin the witness said that he understood that he was taking a risk when he gave the money to Cash Plus.
He said he also understood that the money was a loan that Cash Plus would use in its businesses.
Martin along with Valerie Neita-Robertson is representing Hill.
Hill, who was charged in April 2008, is facing trial for fraudulently inducing persons to invest in the Cash Plus scheme.
