Depositors in the now defunct Cash Plus organization are facing more difficulties in their bid to recover their funds, even as Carlos Hill, the founder of the entity, walks free from criminal charges.
The prosecution dropped its decade long fraud case against Hill on Wednesday because of a failure to get witnesses to testify against him, and he immediately told reporters that he will now pay the approximately 40,000 depositors who lost $10 million when Cash Plus, described as a ponzi scheme, collapsed.
Attorney-at-Law Bert Samuels, in response, told RJR News that, while the criminal case was proceeding, depositors could have begun civil cases against Mr. Hill and Cash Plus.
Now that the criminal case has ended, however, the time has already expired for filing a civil claim against them, he suggested.
“The Statute of Limitation allows for action to be taken within six years, therefore it’s hardly likely that persons will be able to begin an action now… so with the lapse of over seven, eight years, there is the possibility that the Statute of Limitation would bar any civil action capable of commencing,” he explained.
The Reporter made a grave error,it is $10 BILLION NOT $10 MILLION . Well oiled and executed highway robbery involving society people and corrupt politrickians.I am sparing a thought for the decent sole witness who refused her $10mil while the other 15 witnesses took their $10mil n go mek life smh. DO THE MATHS $10BILLION – $150MILLION = $9BILLION 850MILLION.
PAY OFF SOCIETY PPL- $2BILLION
PAY OFF MEDIA PPL- $850MILLION
PAY OFF POLITICKIANS – 1BILLION
PAY OFF THE SYSTEM – $1BILLION
PAY OFF LAWYER – $555,555,556 MILLION
TAKE HOME PAY FI GO PON THE HILL- $4,444,444,444 billion.
i weep for my country…hush mi lady fren..yuh $14million bun up smh.
Den Massa Hill nuh talk it out a him mouth up to yessiday sey when di criminal case done him gonna start paying back. Wha fi stap him? If civil cases did file dem would kno cause di statute run out. Kmrct a excuse term a look. Bertie oo u all into human rights appeal to u clent fi even gi wi back wi principal.
Him and all the politicians are one in the same. All a dem sell poor ppl dreams, take dem money and get whey without even a slap on the wriste. If politicians nah go jail fi their many crimes, him nah go too. Money is power.