Cash Plus salt to rhatid!

[Yuriatin]

Cash Plus Ordered to Cease all Operations

Friday, 28 December 2007

Image The Financial Services Commission, (FSC), has issued cease and desist orders on Cash Plus Limited, its principals, directors, officers and employees.

This means that Cash Plus, must immediately stop conducting securities business, including soliciting and accepting loans until the company is licensed by the FSC.

The FSC says the decision was made based on the findings of an investigation.

The Commission says investigations revealed that Cash Plus Limited's Carlos Hill and Khalil Harris, have been engaged in securities activities that breached sections 7 and 10 of the Securities Act.

The FSC notes that Cash Plus has also breached section 26 of the Act as the securities being offered to the public have been issued without being registered by the Commission.

The Securities Act requires persons who issue securities to be registered.

The Act also requires that persons who deal in securities must be licensed as securities dealers.

http://www.radiojamaica.com/content/view/4166/26/

[CeaBee]

Re: Cash Plus salt to rhatid!

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">have been engaged in securities activities that breached sections 7 and 10 of the Securities Act.
</div></div>

me wonda what this is....the securities act online u think?

gone fi check.

the link on the FSC website doesn't work

[Yuriatin]

Re: Cash Plus salt to rhatid!

<span style="color: #FF0000">"the link on the FSC website doesn't work"</span>

How completely not surprising!


<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: coolbeans</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">have been engaged in securities activities that breached sections 7 and 10 of the Securities Act.
</div></div>

me wonda what this is....the securities act online u think?

gone fi check.

the link on the FSC website doesn't work </div></div>

[Joemaican]

Re: Cash Plus salt to rhatid!

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: coolbeans</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">have been engaged in securities activities that breached sections 7 and 10 of the Securities Act.
</div></div>

me wonda what this is....the securities act online u think?

gone fi check.

the link on the FSC website doesn't work </div></div> <span style='font-size: 11pt'>
As usual they pull down the ladder that the despirate is trying to use without creating some means of survival.
and then we wonder why there is so much violent crimes in the country.
of this action could be very expolsive.
One thing I can tell you is that the phylosophy of the so-called leaders is so destructive that the logical result of it's expression is violent crimes.

In any real country, the machinery in place would be geared to make sure that the people who put their monies in the organization,would be allowed an alternative means to recoup their investments.
After all they are not thieves. they are simpley trying to earn an income. yet these peters teeat themn as if they are criminals.
They teeat ever citizen that tries to achieve in any way other than being slaves,as if they are criminals.
look at how they treat even the route taxumen?
These people could have eat the money they use to credit the taxus,but they did not.
They sacrifise and try to earn a liviing,and how are they treated,by the police? ...like criminals.
The country is being run just as it was during the occupation by the British. It is not independent. At least the leaders don't realize that it is,and that the citizens earnings are part and parcel of the country's wealth.
They don't know that That is why the country is still not benefining from theo People's inginuity and industrius abillities. foreigners,simply come to Jamaica and take the ideas and get wealthy on it,in their counrties. Jamaica can develope the best of anything,but the leadershup will snuff it the enenrgy that it needs to become somthing succesful.
Not that Cash Plus is a sound investment scheme,but the people that invest in it shouled be treated with the respect of every other honest citizen trying to make a living.

Not cut down the tree without giving thm an opportuniny to recoup their earnings,and investment.</span>

[Magician]

Re: Cash Plus salt to rhatid!

When they say they can't accept new loans, does it mean the people who invest already can get their money out still? [img]/forums/images/%%GRAEMLIN_URL%%/70402-thinking.gif[/img]

[Magician]

Re: Cash Plus salt to rhatid!

Rhatid! Mi jus hear pon IrieFM seh di money froze. Yes man, if yuh ave monney inna Cyash Plus account yuh cyaan get it back again. What a ting.

[a wunda is who gwine get all di money eeh man] [img]/forums/images/%%GRAEMLIN_URL%%/70402-thinking.gif[/img]

[CeaBee]

Re: Cash Plus salt to rhatid!

and as soon as that money unfreeze everybody a guh rush fi get dem share. [img]/forums/images/%%GRAEMLIN_URL%%/eek.gif[/img]

[CeaBee]

Re: Cash Plus salt to rhatid!

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: coolbeans</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">have been engaged in securities activities that breached sections 7 and 10 of the Securities Act.
</div></div>

me wonda what this is....the securities act online u think?

gone fi check.

the link on the FSC website doesn't work </div></div>


According to a statement from the FSC, based on its own investigations, the principals of Cash Plus "have been engaged in securities activities in breach of sections 7 and 10 of the Securities Act. Section 7 of the act prohibits the carrying on of a securities business without being licensed as a securities dealer by the FSC".

Section 10 of the act prohibits an individual from carrying out the functions of a dealer's representative without first being registered for that purpose by the FSC.

Source

[Magician]

Re: Cash Plus salt to rhatid!

Mi almoas did put a smallz inna it last Septemba. [img]/forums/images/%%GRAEMLIN_URL%%/70394-bawlout.gif[/img]

[Dr.Dudd]

Re: Cash Plus salt to rhatid!

Cash Plus investors angry with the FSC
Saturday, 29 December 2007
More reactions have been forthcoming following Friday's move by the Financial Services Commission, (FSC), to shut down the embattled investment club, Cash Plus Limited.

The RJR News Centre continues to be flooded with calls from upset and distraught investors in the company, describing the action by the FSC as a strike against them.

One caller, who said he had significant sums invested in Cash Plus, said he could not see how the action taken by the FSC is protecting his interests.

He said the FSC was established with a mandate to protect the interest of investors and their latest action puts into question that mandate.

He is asking whose interest the FSC is protecting, because in his view, it is not that of the investors.

He also asked why the FSC did not ask Cash Plus to cease and desist from taking on any new business until the matter is settled.

Another caller said the Commission should have taken a different approach and expressed concern about the status of the combined multi-million dollar investments of Cash Plus clients.

On Friday, the FSC ordered Cash Plus to immediately stop conducting securities business, including soliciting and accepting loans until the company is licensed.

http://www.radiojamaica.com

[CeaBee]

Re: Cash Plus salt to rhatid!

what a ting.

suh the people dem caan get dem money out fah real ?

[Dr.Dudd]

Re: Cash Plus salt to rhatid!

I would be considerede a Sttrange behavior by FSC if it was not Jamaica. they don't protect the savers that are paid 5% by the banking sector,while that sector loan out these same savers money at rates of 28%. But they are protecting investors that are being paid 60%,from an institution that is paying them as as promised?
The difference is that in th efirsyt case,it is the entitled class,is benefiting at th eexpence of the suppressed class,while in the latter for the first time in the country's histroy the suppressed class is benefitting.
They have never prevented the miriad of crumunals that have robbed the suppressed,for 4 centuries,yet their quickest move is always against intrest of the suppressed.
Claiming that it is in their intrest.
Jamaicans have long memory,and are very adept at dusguizing their intentions.
They are just pushing the poeople to become more volatile/.

[Dr.Dudd]

Re: Cash Plus salt to rhatid!

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: coolbeans</div><div class="ubbcode-body">what a ting.

suh the people dem caan get dem money out fah real ? </div></div> That's the truth. As a matter of fact the government will make sure that they loose. So as to teach the people a ;esspon,not to have too big of an ambition.
they shopuld be satisfied with slave life.

[Yuriatin]

Re: Cash Plus salt to rhatid!

But Cools didn't we all see the signs coming ... [img]/forums/images/%%GRAEMLIN_URL%%/70456-eyebrows.gif[/img]

Aye sah. [img]/forums/images/%%GRAEMLIN_URL%%/frown.gif[/img]

Anyways - the difficulty in getting one's money out, I think, started BEFORE this official announcement from the FSC.

I was talking to my father in law on Wednesday or Thursday of this week - he's in St Mary.

He told me of his best friend trying to his US$ out and he was having trouble big time! [img]/forums/images/%%GRAEMLIN_URL%%/eek2.gif[/img]


<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: coolbeans</div><div class="ubbcode-body">what a ting.

suh the people dem caan get dem money out fah real ? </div></div>

[CeaBee]

Re: Cash Plus salt to rhatid!

True..

me did really read about the people dem dat did a try get dem christmas money and dem tell dem fi come back end of january or someting suh.

i guess we haven't heard much from Olint's customers..[img]/forums/images/%%GRAEMLIN_URL%%/70402-thinking.gif[/img]