Former Cash Plus liquidator now representing Carlos Hill

Carlos Hill the former head of the Cash Plus ponzi scheme, who has been accused of defrauding investors, has declared that he wants to repay the depositors who lost billions of dollars in the collapsed scheme. This was disclosed on Monday when Hill appeared in the Home Circuit Court.
     
The businessman was scheduled to go on trial for fraud, however, Hugh Wildman, a former trustee in bankruptcy, and liquidator of Cash Plus Limited, requested a delay in the trial.

Wildman's appearance in court as the lawyer representing the former Cash Plus CEO, was unexpected, as for years he was the person placed in charge of helping Cash Plus clients recover funds from Hill following the collapse of the ponzi scheme.

His first move in court  was to ask for more time for his client. Wildman stated that Hill intends to repay the depositors who lost more than US$100 million in the collapsed scheme and, based on that, more time was needed for him to produce the evidence of  his client's intention to repay investors. The Prosecutors were in agreement with the delay.

Paula Llewelyn, Director of Public Prosecutions (DPP) in her address to the court  made it clear that the trial will commence next week Monday, stating that she agreed to the one week window, out of concern for the depositors.
    
Hill, who was charged in April 2008, is accused of defrauding investors, who pumped more than J$10 billion  into his ponzi scheme. He will be tried by a jury, on an indictment that accuses him of  fraudulently inducing persons to invest in the Cash Plus scheme.
If convicted, he faces seven years behind bars.