Wed | Sep 20, 2017

UPDATE: Refund for Cash Plus investors will definitely happen, says Carlos Hill

Published:Wednesday | May 24, 2017 | 5:19 PM
Former Cash Plus boss Carlos Hill being interviewed by reporters as he left court this afternoon - Norman Grindley photo

Livern Barrett, Senior Gleaner Writer

Former Cash Plus boss Carlos Hill today offered hope to thousands of investors who lost billions of dollars in his failed unregulated investment scheme.

Hill mostly ignored questions from reporters as he left the Home Circuit Court in downtown Kingston, but promised that compensation for investors is still possible.

"That will definitely happen especially now that this is behind me. Now we can concentrate on that," Hill said before he was whisked away in a taxi.

He had just been set free by the court after the prosecution said it could not prove the fraud case against him because of a lack of evidence.

READ: Cash Plus boss Carlos Hill walks free as fraud case collapses

Prosecutors said only one of 16 witnesses had come forward to give evidence at the trial, which was to have started today.

Over 40,000 Cash Plus investors are still owed close to $10 billion.

Hill was charged in 2008 with fraudulently inducing persons to invest and attempting to fraudulently induce persons to invest in the investment scheme.