Carlos Hill declares $J111m in assets

Cash Plus boss, Carlos Obrian Hill, has declared J$111 million as his personal worldwide assets, which is far below the $4 billion outstanding to clients of the collapsed financial entity.

The declared sum excludes four motor vehicles, which were not assigned a dollar value. Hill’s total assets plus that declared for his companies, amount to $204 million. If this becomes available, investors would get only five cents of every dollar invested. The assets for which a dollar value was given comprised J$82.5 million and US$395,000.

http://www.sunheraldja.com/article/show/1457

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74 Responses

  1. Carlos Hill would have done a lot better than 5 cents if he was allowed to, the interim manager and the liquidator is probably earning 80 cents/$.

  2. At least Mr. C.H has now declared his assets and we can all prepare ourselves mentally and financially.

    D.S your time is coming soon. When you have to return to Jamaica, we will be waiting.

    Monday there will be a group of OLINTERS going to meet with the Fraud squad.
    I hope you saw the harsh conditions which Mr. C.H. had to endure at the Remand Center. Get ready for your personal experience !!!!

    • since the failure of the carlus hill entity ,how much
      money paid out so far and by the conclusion how much it is expected to cost. how do we know that by the end of the investigation we would still get five cents in every dollar. when will a conclusion come.

  3. There will be no “pool” arguments. How many cents on the dollar each person gets. hahhahahaahaaa

    If you do not get a case and judgement and ting the fairy godmother wiil not call you yearsfrom now to get your 2 cents on the dollar.

    If you want something your nose have to run.

  4. So where the hell the rest of the money deh. Lifestlye eat it out?

  5. sirach, i was just commenting on what’s declared, personaly as a ufo investor i am not looking forward fo one red cent. that is history it could have been a lot worst god will always help is children through the toughest of times.

  6. What abt the report u highlighted to us of them finding over 4 billion linked to CP?

  7. It is of grave concern to me that I have supplied factual information to this blog site and the content although written in a discrete tone is NOT published.

    My blogs are in fact placed before others who are confirming exactly what I am sharing- e.g. Sirach.

    With that said, if my blogging statements are not released, I will be forced to assume this site is aiding and abetting Mr. D.S. and thus I shall report it to the Fraud squad and the F.B.I.

  8. I am usually a person with few words.

    However, I appreciate this forum as it provides tremendous support to us in terms of supplying factual information.

    Recently, I was present in the Bahamas where I saw in publication an article about the First Lady of the TCI. She voiced concerns to the Auld Commission of Enquiry, regarding practices of corruption by her current husband, The Hon. MM, who is the current Premier.
    She also mentioned his close relationship to DS.

    This now confirms to me that DS was associating with the wrong crowd!!!

    Anything done in the dark will come to light!!!!

    Yesterday, a group of Olint investors met and it was determined that we need to bring our case to the attention of the Fraud squad.

    DS will soon face the same criminal charges that the former Cashplus tycoon has had to address. His plight may however worsen, as he faces possible charges of bribery in the TCI.

  9. Why not declare the amount of money paid to Price Waterhouse, the appointed Receivers.How did 3 million dollars (US) get paid to Price Waterhouse and no money was paid to the legitimate account holders.

  10. Recievers? You must be joking. Certainly members would have been notified.

  11. Interesting these developments. What lengths people will go to for a extra dollar. Interesting blog with 6.8K (Max 9.3K) total readers and 3.5K (Max 4.6K) located in the USA 95% of which are from the Miami area and Florida.

    Those are the most liberal numbers one could hope to get. So it could be lower.

    I guess as it pertains to money they read on average approximately 26.99 Monthly Page Views per Person thus causing such large number of hits.

    For the latest Jamaican news visit:

    http://kingstonchronicle.com

  12. Chronicle,

    you don’t have to read here if you don’t want to. hhahahaha

    People not doing nothing for no extra dollar.hhahahaa.The dollar is theirs to begin with. Anyway nI going check your site. You hear how F1 just crash? Done, Kaput.

  13. Invest for life

    WW a get sued. F1 want start out a Cayman without paying out. DS blacklist ti all him get blacklist….whe unno deh…..flying back fro Bejing.

    Or is this a subtle hint to run the clubs down to get the money before we end up like quack-quack.

  14. F1 crash? I am sure you not talking about Formula 1. LOL. No I did not know that. I never invested in any of these clubs, though I knew about them for about 4 years now. By the time I heard DS was in FOREX it was closed.

    Of course if you got in early with these UFOs and left with other people’s money early you did well. Statement based on my conclusion drawn from PONZI schemes etc from this blog.

    I however still am convinced that DS will recover. I has no choice. If he really has the talent he will. Dam I am supporting a man I never even invested in. I wonder why?

  15. what about real estate holdings of cp that was bought not ones a payment was made on.

  16. Gfce

    Most of thoose CP transactions had cluases in the contract saying the deposit would be the sellers if CP could not close the deal. Dem bathe! Some will give it back though because Jamaica is different. With many Jagans the concept of “we don’t need no stinking contract bredrin” applies. So many who took deposits not going to keep them. They will return them to the “pool” of investors. In other words even “smartypant” who hide behind laws knows when to get smart.

    Chronicle

    Web site of yours need to stay current man. Can’t chat your ting and be discredited so easy. Come on man! You are a Jagan. And a Kingstonian! Get current man. You a politician? Dem nuh really know nutten. Represent man. Don’t be laughable like the people aho claim to be “in the know.” leave that to the Gordon House people man.

  17. Chronicle

    Think too. Thinking is a great hobby. It is cheap and you can do it most anywhere and only one piece of equipment is needed.

    The time you were a member of any club does not mean you are better off.

    Also you might want to think about the stupid “principal” argument. Every thirty days your interest became principal. Hell you may also have made strategic decisions on this that had material effect.

    Also you could have bought and sold shares in your account so you could well be negative. The clubs have no record of this.

    anyway lata.

  18. Good morning Jamaica!

    What’s up this week. How much politics going to be squeezed out of our sporting prowess this week. Tell them (politicians) not to waste time with that and get on with the business at hand.

    You know how much money the genius prince PJ’s holiday in 98′ cost the suffera? Let us not forget!

    When will they finally shut Air J down. No one wants to buy it. It’s like the schemes. Talk, talk talk. If someone wants to buy it it would have been gone already. BACCRA take one loss on your pride nuh. Even this one time for the suffera. Lock the thing down.

    O.K. BACCRA sorry, sorry, sorry. I did not mean to get you hot under collar. Sorry boss. O.K. I get the picture. Air J means alot to the pride of BACCRA so it will continue to loose at my expense. BACCRA should not have to fly to foriegn pon the imperialist them airlines. BACCRA a no second class. BACCRA a first class in all the World. Learn that whether you can meck a breakfast this morning or not! Owhoo!

    OBG …begging the criminals been done already. Get a totally new justice system FIRST. Then the police and other things come after. Throw away the British concept of Justice.

    Oh…sh…t! Sorry BACCRA I neva mean to say that. Yes BACCRA. Yes…um humm…yes. Yes I know that the old colonial blueprint is what keeps you on top. Yes….yes um hmm…Yes BACCRA although you do pity us “street niggers” you can not make any meaningful change to the system…..yes BACCRA..yes …umhmmm…Yes BACCRA you must be on top…yes….yes…..because you are brown….um hmmhm…..BACCRA?…hold a minute cause mi credit with you Irish freinds sonn done…..let me ask you one thing quick…….BACCRA you can spare likkle bikkle out a you plate wid me di marning? BACCRA?……BACCRA???….Hello?…….. click….You’ve reached the voice mailbox of……there is no more room for new messages….”

    hahhahaahha…Good Augus Morn to us all JAMAICA!

  19. August 22, 2008
    Dear Valued Client,
    We wish to express our sincere gratitude for your continued loyalty, patience and support.
    F1Investments Inc. (F1) continues to operate in an industry that is experiencing extreme
    hostility, a loss of confidence and unique challenges. We are presently faced with two issues that
    directly impact our operations:
    • Legal proceedings against May Daisy Corporation (Ingrid Loiten).
    • The circumstances surrounding the Gold fund (managed by Olint)
    This situation has resulted in a significant increase in encashment requests. This increased
    activity limits tradability of funds as it directly affects our risk management profile. With each
    withdrawal, or addition of funds, our risk management profile has to be adjusted to optimize the
    efficiency of trades. It therefore means that there has been a decrease in trading activities.
    We wish to re-emphasize that our number one priority is preservation of capital that is achieved
    through our strict risk management principles. As a consequence of the above, we are giving
    serious consideration to winding up the Platinum Fund. In view of this, we have commenced an
    interim audit on both the Gold and the Platinum funds. The purpose of this audit is to verify the
    accuracy of account statements by an independent firm and this is expected to be completed by
    26th September 2008.
    During this time, we will not be accepting any deposits and will not be fulfilling any further
    encashment requests. F1 Investments Inc. will issue a statement based on the outcome of the
    audit as to the future direction of the company on the 3rd October 2008. This statement will
    indicate winding up procedures for the Platinum Fund and a disbursement payment schedule.
    We anticipate your continued support, patience and understanding during this period.
    Yours faithfully,
    F1 Investments Inc.

    Changing the rules as you go along ehh. You must be IL or DS or VI. What about the members rules? Like the one where the members state what interest rate they will charge for each day you do not pay?

  20. F-1 seems to be going in the same direction as Cash Plus and Olint.
    What a pity.Now the Jamaican banks have no competition. That is not how the free market should operate.

  21. Pity? Harbour Shark people facing destruction! Aside from thoose who get it already.

    Why don’t the poers that br reign in these Jamaicans immediately. Instead of begging criminals to cease. Beg the criminals to come IN FOR JUSTICE. The people don’t want amnesty for them! Dem want Justice!

  22. Talk about bullcrap

    Audit.. new buzz word.. when you cannot do the due diligence, then you impose an Audit… Olint can argue for an audit on the basis of the FSC confiscating their records adn the need for reconciliation.

    How F1 can now do audit ?… then Schedule.. how much longer people should suffer this bullcrap

  23. culkull

    For real. If in one sentence their bullcrap relies on IL and DS then how can they give dates? If DS was not frozen in January then how is unfreezing going to help him? What he’s going to be unfrozen and do something new that he was then obviously refusin to do for months?

    People a fool in these people books.

  24. Them love bide for time……and the fool them jus give them so.

  25. New buzz word soon become “money done”

  26. And of course the regular excuse, “is somebody else’s fault.”

  27. they have us by the balls.. cause what can we do.. except sue .. which will cost lots of money and take a minimum of two years for any resolution..

    then another 5 years in trying to collect or enforce collection.

  28. cullkull

    Yes they are in charge. The small man can not go up against the schemes. It is fruitless. They are too smart. They laugh at sueing. They challenge people to do it.

    Just bend over cullKull…..they run tings.

  29. Them control all the blog now. You neva notice?

  30. Jamaica get screwed through greed and gluten. A recession,financial meltdown of subprime proportions is upon us while our leaders play and live in denial.The fire is burning man save your own soul..Robert Nesta Marley.Has anyone noticed that all the real estate developement in King.6 and 8 seem to have ground to a halt or slowed up significantly yet The officialls are saying the Economy is in good health…..amazing.

  31. Dear Sir/Madam,

    RE: THE ’50 WOMEN OF TCI’ DO NOT REPRESENT THE VIEWS OF THE TCI WOMEN!

    Kindly allow me a space in your paper to express my EMBARRASSMENT, DISGUST, DISBELIEF and ANGER at the parade of ignorance shown by the ’50 Women of TCI’ at the recent press release put on by the PNP. The speaker for this group Ms. Terry Clare, newly elected PNP Executive Women’s Branch/Administrative Officer and her entourage of political puppets seem to be in full support of domestic violence and are encouraging men to beat the crap out of women drag us around by our hair and treat us as animals and not their equals.

    Let’s set the record straight! Ms. Clare, I wish you to know that you do not speak for ME!!!!!!!!!!! I am sure that there are many other Turks Island women that feel the same way as I do!

    I am a Turks Island woman, born and raised here for over 30 sum years and never in my life, not even in pre-school have I ever come across such a display of ignorance, stupidity and bitterness portrayed by the women in that press release.

    I do not know who at the television stations allowed that ignorance on the airwaves, but they should be reprimanded! We have the People’s Democratic Movement who cannot get a slot on the airwaves to bring important information to the people, but they allowed a set of “crackling hens” that had nothing positive to say airwave time.

    It was with disbelief and disgust that I watched the press release. SHAME, SHAME, SHAME on you ‘50Women of TCI’! How could you pull a sister/woman down! How many of you ladies have not had or is currently now dealing with a cheating partner or spouse? How many of you have not been in Mrs. LisaRaye McCoy-Misick shoes? Remember….”Karma is a bitch and what goes around comes back around.” Tell me how would you feel and what would you do if one day you went home only to find that the locks have been changed on your house doors and your spouse tells you that you no longer live there? Many of you would do the same and maybe more then what Mrs. McCoy-Misick did.

    What Mrs. McCoy-Misick is going through could happen to any one of you women; and at a time like this when we should be embracing, encouraging and lifting her up, you PNP women have taken advantage of her vulnerable state to “dog” and ostracize her. Is this not the same lady I saw campaigning with the Premier and you all the last election? Is this not the same lady that many of you emulated– wearing the fashions she wore? Once again, shame, shame, shame on you PNP women!

    Mrs. McCoy-Misick may not be a Turks Island woman by birth, but when last I heard she was given PRC status, but most importantly she is a woman just like you and I. As we can all see, if you bite her does she not bleed and bruise? If she’s hurt does she not cry? We are all women! We all have mothers, sisters, daughters, and girlfriends. How many of you can say that you do not know one of the above who has not gone through or is not going through what Mrs. McCoy-Misick is currently going through? Have you ostracized and turnded your back on them as you all are now doing to Mrs. McCoy-Misick? Remember…as women what afflicts one (Mrs. McCoy-Misick), can afflict us all (cheating partner or spouse, cancer, HIV, HPV etc.). Today is Mrs. McCoy-Misick’s “storm, battle and time”, but the tables can easily be turned and tomorrow it can be one of you.

    In all of this I ask, “Where is the Gender Affair office?” This is not an American woman versus TCI man fight this is DOMESTIC VIOLENCE! We women in the TCI have been on the receiving end of violence for too long. We cannot continue to allow men to brutalize us and allow them to get away with it. We must take a stand and stand together, because if it happened to her it can happen to me and it can happen to YOU!

    The Premier choose Ms. McCoy to be his wife and she deserves all the benefits as his wife in their divorce settlement and she should not be dismissed or trampled upon because she is not of Turks & Caicos heritage. Mrs. McCoy was grudgingly accepted as the Premier’s wife because he demanded it. I say, let us continue to treat her as such until their divorce is settled and to hell with how the Premier feels because he has no one but himself to blame for his marriage.

    To… Ms. Terry Clare and followers go clean your closets, your houses and your windows before you throw stones. As we all know stones have no eyes and fall anywhere. Also, let the Premier fight his own marriage battles. Do not allow him to use you or us TCI women. It was he that married Ms. McCoy-Misick and not us. Let him look stupid before God, TCI and the rest of the world. As a People, we do not know all the reasons that have destroyed the marriage, but I know that prancing around the Country with another woman, whom my 13 year old son saw with the Premier at the music festival, is one of the reasons. What kind of lessons is the Premier sending to our children, especially our boys and young men when they see him “carrying on”, with some other woman that is not his wife. Where are the Premier’s morals, values, integrity, honesty and where has ours as a Nation gone? Growing up my mom would always tell my siblings and me “If you make your bed in hell you will sleep in it.” Ms. Clare, let the Premier sleep in the bed that he has made, let him deal with his own marital issues and clean up his own mess, he is after all a grown man…..then again…

    In closing to Ms. McCoy-Misick, I feel your pain for I myself was once in your position. I apologize for the lack of character, ignorance and sheer stupidity put on by Ms. Terry Clare and her followers. They represent themselves and can never represent all Turks Island women. You have many of us here praying and rooting for you. In closing, I will leave with you what my mother (wise woman) told me when I was going through my “storm” …”If you come out of this marriage/divorce/courtroom without anything, except your sanity and life, lift your hands to heaven and give God thanks because HE (GOD) knows why.”

    Mr. /Ms Editor thanks for your time and space to speak my feelings.

    Divorced & Still Standing

    D.G.

  32. hey Investor For Life, I am now in LA. travelling back home from China now.
    How unnu so slow unnu nuh see that DS issue a statement about 3 days ago.
    Whats up wid unnu?

  33. Needy, ds is in very deep trouble now.They are looking into his work permit.
    FBI is involved.

  34. what type of trouble?
    who is looking into his work permit?
    Where in the TCI?
    Why would the FBI be involved in that?
    So what are they going to do, charge him for living in the TCI illegally?
    LOL.

    That would hardly be described as DEEP TROUBLE.

  35. “Chronicle

    Web site of yours need to stay current man. Can’t chat your ting and be discredited so easy. Come on man! You are a Jagan. And a Kingstonian! Get current man. You a politician? Dem nuh really know nutten. Represent man. Don’t be laughable like the people aho claim to be “in the know.” leave that to the Gordon House people man.”

    What nonsense u speaking? It is hard to follow your English. And no I am not Jagan, I know no such nonsense. Discredited? About what? Never needed your approval.

    Not sure what you mean be Current. But thanks for taking time out to read the website.

    Fact is these UFOs were good if they were really doing FOREX and making returns per month just enough to make it worth your time and others. But this blog seems to point that many of those UFOs were simply too good to be true.

    The common denominator is that most club members wanted to get rich quick without working much less working hard for it.

    “Chronicle

    Think too. Thinking is a great hobby. It is cheap and you can do it most anywhere and only one piece of equipment is needed.”

    Thinking is not cheap, but cheap thoughts come easily, and as such they are quoted.

    It is important however to promote critical thinking, and not just thinking for the sake of thinking. but hat may require a bit of effort and may not be so cheap, as one may have to sharpen one’s intellect and that will require resources.

    At the end of the day YOU ARE ALL LOSERS in respect that you lost your money in what now appears to be a SCAM, PONSI SCHEME/Investment club.

    With such limited resources in and out of Jamaica by Jamaicans one would expect the very least one credible FOREX club trying to come clean and attempt to make money legitimately for its members. Of course that was to be DS. Or is it?

    If not FOREX then some other forms of investment in Jamaica companies that show great promise. When I share this blog with VC firms and top U.S. entrepreneurs they are so shocked that so much capital could be lost without any real product being created by JAMAICA or JAMAICANS.

    Hey I have an idea. Put your money under your mattress. Leave it there for about ten years. Then take it out and go and spend it. What do you think? 🙂

  36. Harbourshark as far as I know DS is a now a belonger so why would they be looking into work permit? TCI is not a US island so what would FBI have to do with his status in Turks?? If you mean the British home office looking into how he got the belonger status then that different but the work permit and FBI thing dont seem to make sense.

    Maybe FBI involved with anything that happen in the states with the banks there. Please explain some more.

  37. Investforlife

    Unnu nuh get a copy of DS letter dated August 16th as yet?

  38. 5 cents as in 5% as in less then 10% as in THIS MAN MUST BE SHITTIN HIMSELF!!!!! Well hope mi get mi 5% it will gi mi a likkle food still 😐 disappointed tho

  39. Habourshark

    I can’t remember anyone on the blog whose tone has changed so dramatically – you now seem to be DS ‘s harshest critic.

    Needy

    What did u think of the letter? have u heard anything abt the crt case?

  40. Harbourshark

    Why haven’t u responded to Needy’s questions to you?

  41. Needy:

    The letter was posted at least two times under one of these threads. There is not much in the letter, so I guess IFL didn’t deem it important enough to have its own thread!! Interesting though is the fact that the letter was written on the 16, but only appear around the 22nd or 24th.

    You need to give us the full 100 on the Olympics. You know, the type of info that was not seen on TV. Who, What, Where. You are the only one I would trust to get us that type of data (see Link below for Olint’s Letter)!

    https://investforlife.wordpress.com/2008/08/15/i-trade-response-now-available/#comment-8301

  42. Davesin

    I find that response very very strange…..IFL posted thread on MTI students, Lewfam etc yet still the person/topic that we all discuss day & night makes a statement and it is not worthy of a thread……..strange!

    guess if the thread has any tinge of something positive it does not count….

  43. Again, I am forced to believe that the only thing of importance to the blog is info that serves to tear down DS. If truth emerges that in anyway vindicates DS there wld be disappointment for the blog authors….if DS had said in his letter that there wld be a delay in payments the thread would have been up in 9.68 seconds!

  44. MK (OLINT DISCIPLE):

    Seriously, could you highlight for us the short sighted ones, the glimmer of hope that was contained in that letter? Something that gave some hope of good things to come? I guess any communication from your “divine leader” deserves its own thread..eeh?

    Mark my word, in a month or two, when the official hammer drops on OLint/DS, I guarantee we won’t see you face on this or any other blogs, supporting Olint. We the detractor’s know full well…Cash Plus Experience! Keep saying strange…strange…strange..

    Signed (One of the Detractor that works for the FSC/Jamaican Banks)

  45. hi all,
    this has nothing to do with UFO’s but this is a spoof of the 100m race with Usain Bolt. funniest shit you’ll ever see. posted 3 days ago on youtube and already at almost 2 million hits!

    check it out

  46. Ay Bwoy….oh sorry non Jagans….am Hey fells! (to all U.S.A.) crew.

    Mk

    You use the term “vindicated.” How do you define that?

    DS paying out at some time in the future? DS paying out tommorow (read Azan, Loiten, F1, Wilshaw,Lewfam ,Visions Increase etc)?

    I do not see how vindication could be possible. Unless perhaps these people can, in additon o paying, deal with the other financial and non-finaicial issues that THEY have thrown on people.

    Hint: That is literally impossible.

    So “vindication” is interesting coming from a backer because it shows a lack of understanding.

    I hope I am wrong. If you can define “vindication” in terms of these clubs i would be interested to listen.

    Excuse and blame have no place in vindication.

  47. You know in Jamaica we invite peace treaties and other rubbish with murderers. This is fact. So many of us think that by somehow making things better or seem positive moving on “vindicates” what has gone already. Then we have a prayer breakfast on top of that (note the prayer breakfast is the most inequitable and consistent failure in Ja).

    The prayer people live to see another day, the victims still dead and the purpetrators still abound).

    That is not Justice. Until you know Justice you will never be free. It is this fact why although we were so called emancipated from the whites yet we remain slaves of BACCRA.

    mk

    One can not “vindicate” oneself on one’s own terms. ONLY THE MINDS OF THE VICTIMS CAN DO VINDICATING.

  48. Harbour Shark

    People left banks in Jamaica permanently due to the “fight” against the schemes. Such was the level of the backing. Truth is that the backing did not stop there it went further and deeper in some cases.

    Now the schemes empower the same banks to wreek power all over the so called loyalists.

    Then the schemes leave the loyalists out in the open to face all kind a music.

    What a vindication. The mosyt decent and the most loyal get what Marcus got.

  49. Most of the slaves of money and status will probably accept cents on their dollars. Once they do they will not be anymore able to accuse AIS’s/Ufo’s of stealing. They will then become known as accomplice. They will not be welcome in the gates.

  50. Davesin

    Are u one of the blog authors?

  51. Sirarch

    Speak for yourself the majority of persons will be more than fully satisfied if they receive 60 cents on the dollar (total balance).

    If DS pays that in their eyes he would have been vindicated!

  52. MK:

    No I’m not! Are you JS? Are you one of the 12 disciples of David Smith?

  53. Sinner man

    No, neither – who is JS? I leave the disciple business to you and ur dedication to OD FSC and anyone who is giving away money…I am sure the drug lords would be interested in meeting u…

    Anyway, turning in now later all..

  54. Mk

    You speak with a false sense of authority. 16 thousand membership plus another 25 thousand in peoples accounts and you say they will be more than happy with 60 cents on the dollar. You must be Tracey Smith or something close.

    Anyway you said you had no money in there so it does not matter. You will have no say.

    Careful though you seem to be closely aligned. mk….people are going to go to jail.

  55. Ans yes mk you are correct. The drug lords abound in Olints accounts. You know the names? I do.

  56. Which polar smart alec takes a person who gambles to live where gambling is leagal? Accountability time!

  57. Sweet Dreams are made of this:

    Who am I to disagree ?

    Everyone is lookin’ for something !

    Some of them want to use you, some of them want to be used by you !

    Some of them want to abuse you, some of the them want to be abused by you

    Eurithmics 1983

  58. Sirarch

    I have consistently said that i have i am an olint investor – not someone sitting on the sideline making comments with ulterior motives….check my blogs….not because I am not one of the bloggers tearing down DS means that i have to be a part of his family …..

    We live and die by our decisions – I chose to invest in Olint – I ACCEPT the consequences – I will NOT blame anyone or try to pass the buck.

    The persons I speak with will be more than happy to get back 60 cents on the dollar(total balance) .

  59. mk

    I hear you. All i ask is that you try to consider that many members are facing consequences that are above and beyond losing their money. Smith has caused a lot of heat to come on them. It is not a simple matter and certainly no joke. God bless the 60 cents on the dollar people. If that is the limit of their concern then they are better off not understanding the much deeper issues other people face. Bless their hearts.

    By the way. Their 60 cents happiness shall never be realised.

    Also, What are the consequnces then? Hint: It is early days yet to even begin to seculate. Losing all the money is the least. I wish it were so easy.

  60. When DS could have gotten help. Help that he needed. He was then distracted by many of the “60 cents on the dollar types” who have little or no understanding of money matters much less Bipolar Disorder. He was always going to listen to the bearers of “good news” but are those wagonists his true friends? A true friend does not take advantage and become the consumate “yes” person to one who needs help.

    A true friend does not try to take DS away from responsibilty and lead him to playtime at the bar, casino, go-go shop or the video games. Only a true friend tries to help even if it might mean the end of the freindship. Outside of these all others are hypocrites.

  61. This blog is trying to destroy the harbour shark’s investigative comments.I am giving the owners thereof 48 hours to include harbour”s comments which they have suppressed;so that harbour will not have to disclose to the world their illicit relationship wit David Smith and their encouragement of fraudulent behaviour.

  62. The AG in Turks will not accept any more complaints.All complaints now have to be made to the police in Turks.The atmosphere is so tense that another frigate is ion the way.Woe to the premier if anybody disrupts the commission.People forget a Missick was present when Saunders was arrsted .That Missick went to jail. ds should refund the money that he took before the British start looking
    to see how much of it ds received .

  63. MK, Some of the claims may never be paid.60 cents on the dollar is virtually impossible,so wnen you raise it, you create a theoretical expectation which cannot be achieved. 3 or 4 cents on the dollar is what is likely.Is it dangerous to float an impractical number out there?

    er?

  64. ds’ statement does not address what happens if his lawyers are unsuccessful
    in September. What happens then? We have detrimentally relied on ds before.

  65. Dontgiveadamn. DS overpaid Missick and Stanbrooke. and obtained
    belonger status early. In less than 12 months. This
    suggests wrongdoing.

  66. Getting reports that Cashplus investors are being asked to take in a copy of their contract and ID.
    They are being given a form and some sort of letter.
    As soon as I have more details it will be posted here.

  67. This was taken from another website regarding the cash plus claims.

    “Scores of people have been swarming the Victoria Wealth Management Society’s building, located at 52 -60 Grenada Crescent to file their Cash Plus Claims.

    Reports are that since Thursday, September 11, 2008 the trustees responsible for managing the claims on the now defunct company have been issuing and collecting claim forms. These forms are being filled out by Cash Plus Creditors/Members and submitted as legal claims to money owed to them.

    The Trustee company (located on the 3rd floor) handles the processing of these claim forms and in an unofficial statement issued today a representative of the company told the crowd that the matter concerning Cash Plus is still in court and a final decision has not been reached on the matter, however it was acting in response to the on-going legal procedures. As such people having claims should submit these to the office located at 52 – 60 Grenada Crescent at the front desk. Submissions should be placed in an envelope, labelled “Cash Plus Ltd. Claim” and dropped off at the front desk between the hours of 8:45 am and 12 noon. The envelope should contain the following –

    – Completed claim form – “Proof of Debt (General Form)” (signed by a JP).
    (Tip: Place contact numbers on the form)
    – Copy of the Cash Plus contracts to substantiate claim
    – Copy of valid photo identification (Eg. Driver’s License)
    (Tip: Seal the envelope before dropping it off)

  68. jay, can u say which do i go on to get forms to fill out

  69. jay
    can which website i go on to get claim forms

  70. No cash
    Cash Plus investors crowd trustee’s office expecting payments

    MORE than 200 people yesterday crowded the entrance to the office of the court-appointed trustee in the bankruptcy case of Cash Plus Ltd, believing they would have been receiving cheques for monies owed to them.

    http://www.jamaicaobserver.com/news/html/20080918T020000-0500_140291_OBS_NO_CASH.asp

  71. Jay

    This is a re-post from another thread. Please bear with me.

    Jay, on September 16th, 2008 at 4:20 pm Said:
    Regulation does work, well at least in the USA

    If you are implying that this action by the NFA is an example of regulation working while the actions of the FSC in Jamaica are examples of regulation not working, I invite you to note the similarity between the NFA’s order and the FSC’s cease and desist order.

    Imagine if, following the NFA action, the press, politicians, doctors, lawyers, etc, etc, came out and said “its a conspiracy!”, “there’s nothing wrong with FX trading!”, etc, etc. Imagine if Capital Blu just moved its operations to, say, Canada or the UK or Hong Kong, and it’s customers simply kept on investing with them.

    Then ask the question: “Why doesn’t regulation work?”.

  72. Jay

    Thanks for posting the Observer article. It is yet another example of how the press gets it wrong thereby further confusing the public and undermining the protections of securities regulation.

    According to the Kimone Thompson of the Observer, “Approximately 40,000 Jamaicans who invested in Cash Plus Ltd have been unable to access their monies since December 2007 when the Financial Services Commission (FSC) issued a cease and desist order against the company. The FSC claimed Cash Plus was dealing in securities without having acquired the requisite licences.”

    There are two important points to note about this statement.

    1. It states that people have not been able to get their money back since the FSC cease and desist order. This is false. False because it wrongly implies that the FSC orders prevented repayment. And again False because people were unable to get their money back before that date. The result of this is that the story reinforces the wrong impression that regulatory action harms the investor instead of helping the investor.

    2. It refers to a defined and authoritative action by a statutory regulator as a mere “claim” either that Cash Plus was dealing in securities or that they were doing so while being unlicensed. This undermines the standing of the regulator in the mind of the public to just another actor in the drama making its own “claims”.

    Imagine if the actions of the NFA in the Capital Blu case were reported in this way. Would investors in the US pay it any mind?

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