Hill Group properties to be sold to pay Cash Plus investors.

In a Gleaner report today, there is news that the Supreme Court has agreed with the liquidator, Hugh Wildman, that four properties owned by the Hill Group are to be sold. The properties valued at roughly JMD $30 million dollars each are to sold and the proceeds used to assist in repaying Cash Plus investors.

Here is a quote from the article.

“Wildman said that, although the properties were owned by the Hill Group, his office was able to trace the funds to show that the money that purchased those properties came from Cash Plus.”

Interestedly the article states that there are other such applications before the Courts to have other properties sold.

The next thing the liquidator should look at is to target those that got back more than the placed in the ponzi. They should be ask to repay the excess which should be added to the pool of funds to repay investors.

This move should be also of interest to Olint and Worldwise investors, as it reported that the principals of those companies now own multi-million dollar properties.