Carlos Hill granted bail

Cash Plus boss Carlos Hill and his brother Bertram were this morning granted bail in the Supreme Court.



Carlos has been offered bail in the sum of $15 million with sureties, while his brother Bertram has been offered a $10 million bond.



They have both been placed under house arrest between the hours of 6pm and 8am each day.



The Hill brothers are also to report to the police on a daily basis.



Attorney at law Hugh Thompson said the decision by Acting Supreme Court Judge Bertram Morrison supported the constitutional rights of his clients.



The Hill brothers have been in police custody since their arrest on fraud charges on April 10.



On April 17, they were remanded while the company’s chief financial officer Peter Wilson was granted bail in the sum of $5 million.



The police had asked the court not to grant the bothers bail on the basis that they were a flight risk and would be in danger if they were released from jail.



Carlos Hill has been charged with four counts of fraudulent conversion and four counts of obtaining money by false pretence.



He is also charged with one count of conspiracy to defraud following the collapse of his alternative investment scheme, Cash Plus.



Bertram Hill and Peter Wilson are each charged with one count of conspiracy to defraud.



The Hill brothers and Wilson are scheduled to return to court on May 14.