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<span style="font-weight: bold"><span style="font-size: 11pt">Alleged Jamaica fraud funds found in Dubai</span></span>
A court-appointed liquidator said Thursday that $25 million allegedly defrauded from thousands of Jamaican investors has been traced to a Dubai bank account and he is seeking to reclaim the funds.
<span style="font-weight: bold">Hugh Wildman said the money was found in an account held by Carlos Hill at a Dubai branch of Julius Baer Group Ltd, Switzerland's largest private bank.
Hill's Cash Plus investment scheme, which went into receivership in December, failed to repay some 40,000 investors, including many Jamaican retirees.</span>
Wildman said his legal team is trying to reclaim the money, which was frozen by a court injunction.
"We are pursuing the matter, and once we get it back here we'll pay out the money," Wildman said.
A lawyer for Carlos Hill did not return calls Thursday.
<span style="font-weight: bold">Jamaican detectives last year raided Hill's island properties, seizing cars and computers, and arrested the 61-year-old Jamaican businessman on charges of fraud and obtaining money by false pretenses.</span> His brother Bertram and business partner Peter Wilson each face one count of conspiracy to defraud investors, according to police.
The three men say they are innocent.
Cash Plus was one of numerous unregulated "investment clubs" that have swept across the poor Caribbean island in the past decade, promising to pay interest rates far above those of established banks.
<span style="font-weight: bold">"This has crippled me for the past two years. I just hope this is the final chapter and people will get their money back," said fashion designer Lorna Russell, who invested more than $11,000 in Cash Plus.</span>
http://www.etaiwannews.com/etn/news_cont...s=news_Business
A court-appointed liquidator said Thursday that $25 million allegedly defrauded from thousands of Jamaican investors has been traced to a Dubai bank account and he is seeking to reclaim the funds.
<span style="font-weight: bold">Hugh Wildman said the money was found in an account held by Carlos Hill at a Dubai branch of Julius Baer Group Ltd, Switzerland's largest private bank.
Hill's Cash Plus investment scheme, which went into receivership in December, failed to repay some 40,000 investors, including many Jamaican retirees.</span>
Wildman said his legal team is trying to reclaim the money, which was frozen by a court injunction.
"We are pursuing the matter, and once we get it back here we'll pay out the money," Wildman said.
A lawyer for Carlos Hill did not return calls Thursday.
<span style="font-weight: bold">Jamaican detectives last year raided Hill's island properties, seizing cars and computers, and arrested the 61-year-old Jamaican businessman on charges of fraud and obtaining money by false pretenses.</span> His brother Bertram and business partner Peter Wilson each face one count of conspiracy to defraud investors, according to police.
The three men say they are innocent.
Cash Plus was one of numerous unregulated "investment clubs" that have swept across the poor Caribbean island in the past decade, promising to pay interest rates far above those of established banks.
<span style="font-weight: bold">"This has crippled me for the past two years. I just hope this is the final chapter and people will get their money back," said fashion designer Lorna Russell, who invested more than $11,000 in Cash Plus.</span>
http://www.etaiwannews.com/etn/news_cont...s=news_Business
<span style="font-style: italic"><span style="font-weight: bold">*kinpuppalick*</span></span>
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