|Listen to Live Jamaican Radio, Listen to Power 106 FM 24x7. Click Here to Listen Free | (Advertisement)|
First witnesses testify at fraud trial of former Cash Plus boss
2013-03-12 18:14:45 | (0 Comments)
Barbara Gayle, Justice Coordinator
Carlos Hill being arrested in 2008 - File
Two depositors in the failed investment scheme Cash Plus Limited testified today in the Home Circuit Court.
They were testifying at the trial of former Cash Plus boss Carlos Hill who is charged with fraudulently inducing and fraudulently attempting to get persons to invest in Cash Plus.
A St Andrew businessman said in 2007, he deposited a total of $500,000 at interest of ten percent.
He said he got a total of $154,000 from the investment but after failing to receive an interest payment in October 2007, he went to the office to get back his money however he was not successful.
Earlier, a St Catherine taxi man testified that in September 2007, he invested $120,000 of his savings.
He said at a meeting chaired by Hill investors were assured by the former Cash Plus boss that Cash Plus was a legitimate business and that the company was reliable.
He said after receiving word that the company was facing financial troubles he tried to get back his money but no money has been forthcoming.
The trial continues tomorrow.
Like our new Facebook page http://www.facebook.com/gleanerjamaica
Follow us on Twitter http://twitter.com/JamaicaGleaner
Source: The Gleaner/Power 106 News
The opinions on this page do not necessarily reflect the views of The Gleaner. The Gleaner reserves the right not to publish comments that may be deemed libelous, derogatory or indecent. To respond to The Gleaner please use the feedback form.
Go- Jamaica: Home | Business Directory | Jobsmart | Chat | Gallery | Videos | Events