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Cash Plus Boss arrested

Published:Thursday | April 10, 2008 | 3:35 PM

The police have arrested Cash Plus Boss, Carlos Hill in connection with a fraud investigation involving his failed financial investment scheme.

He is one of four persons who were arrested this morning, following a raid on Mr. Hill’s Norbrook home in St. Andrew.

The arrest comes only a day after a Court-appointed co-interim receiver manager, Kevin Bandoian, disclosed that Cash Plus has no money to begin repaying its clients.

Detectives from the Organised Crime Division have been conducting a series of raids at Mr. Hill’s Norbrook home since 5 a.m.

A release from the Constabulary Communications Network (CCN) said the investigation was launched after a number of complaints from investors.

The CCN said the investors claim that they have not been able to encash their cheques, because they are invalid.

The Head of the Major Investigation Task Force, Assistant Commissioner Les Green is overseeing the investigation.

ACP Green is appealing for any persons wishing to make fraud reports against Cash Plus Limited to do so by obtaining the designated form on the Ministry of National Security website.

The Head of the Organised Crime Investigation Division, Acting Senior Superintendent Fitzroy Bailey is leading the fraud investigation against Cash Plus.

The police said the Financial Investigation Division is also supporting the probe.