Carlos Hill back in Court

About three months ago, all the excitement centered around the arrest of Cash Plus boss  Carlos Hill. His brother and the CFO of Cash Plus was also arrested. After some delay they were charged.  Today July 17, 2008, amidst the collapse and troubles of OLINT, Carlos Hill will be back in court to answer to fraud charges.

The charges:

Carlos Hill

  • 4 counts for fraudelent conversion
  • 4 counts of obtaining money by false present
  • 1 conspiracy to defraud

Bertram Hill and Peter Wilson

  • 1 conspiracy to defraud

Carlos Hill is also to return to court next Monday July 21, 2008 when the court will try to hear the following.

The cases involved can be categorised  in this way

  1. Objection to appointment of Cash Plus Receiver: Cash Plus is arguing that the receiver was improperly appointed as the the person who applied for company to going into receivership does not have the authority
  2. Lawsuits to recover Deposits: There are at least 4 lawsuits from persons suing Cash Plus and Carlos Hill to recover their “investments”. This includes lawsuits brought on behalf of David P. Rowe and businessman Haber
  3. Bank seeking guidance on Client confidentiality: BNS is asking for the court’s guidance as the Cash Plus Receiver/Manager has requested information from the bank on some clients.
  4. Receiver for Carlos Hill’s Assets: Carlos Hill’s personal assets are now under control of a receiver based on a action brought by an investor.
FSC got the court to issued a Cash Plus a Cease and Desist Order in December 2007 which was later altered at the end of March 2008 to allow Cash Plus to pay their clients. However, Cash Plus failed to pay and was placed into receivership.
Earlier today we heard that the Court had given the go ahead to have Cash Plus wound up on the request of the PLCA. We also heard that investors will know in 3 weeks, how much and possibly when they will be paid
Related
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: