Cash Plus faces more lawsuits

Reports are surfacing that a group of overseas investors are preparing the sue Cash Plus to recover their investments. The latest reports follow other lawsuits already filed including two for sums in excess of J$100 million dollars.

One lawyer however is not seeing the point of the lawsuits. the following quote is taken from the Sunday Gleaner May 25, 2008.

Commenting on the lawsuits, attorney-at-law Shirley-Ann Eaton says suing Cash Plus will not bring people any relief.

“It makes absolutely no sense. There is nothing really to recover because they have to find out how much he really has and he hasn’t disclosed how much he really has,” Eaton reasons. “And, secondly, even if they sue, I do not see any court ordering immediate pay-over of the money if a criminal action is pending against them,” she adds.

Any money he has, she argues, may well be the proceeds of crime and the court will pay over the proceeds (to the State).

Look out for a follow-up article on whether or not these lawsuits make sense.

Source: http://www.jamaica-gleaner.com/gleaner/20080525/lead/lead7.html

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