Garwin Davis, Sunday Gleaner Writer

He has been called the mystery man - the person behind several acquisitions totalling in excess of J$5 billion over the last six months alone!

But with these investments and the rapid rise of his five-year-old company - Cash Plus - comes the question which seems to be on everybody's mind: Who is Carlos Hill?

"I am a banker by profession, who, borrowing a quote from author Napoleon Hill, believes that 'whatever the mind of man can conceive, it can achieve'," Hill tells The Sunday Gleaner. "I believe in the Jamaican spirit and I believe in Jamaica. This is a wonderful time to believe in Jamaica.

Cash Plus provides the opportunity for more people to accomplish their goals, both personally and financially. And if anything, our situation is getting better with each passing year."

Is there any truth to rumours that he ran afoul of the law while residing in the United States? "Yes, that's true, but it's nothing that I cannot stand up and defend," Hill responds.

"My family migrated to the United States in 1967 where, at a young age, I ended up in banking. I worked with one of the largest minority banks in New Jersey, where later on, I would end up being the president. I eventually got bored and got my own company."

He continues: "We were doing portfolio loans and were very successful at it. We would later run into problems, in that, we loaned out too much money and weren't able to fulfil some of our obligations. I was in violation and the U.S. Justice Department asked me if I would cooperate. The year was 1986. If you have never had a failure in life then you will never be able to appreciate what true success is.

"I have learned from that ordeal and I am a much better person today. The U.S. authorities shocked me by giving me back my loan portfolio in the end, and I have made good use of it."

Asked whether the recent high-profile acquisitions, such as the Hilton Kingston hotel, Drax Hall Estate and Mainland International, were solid business deals in the sense that they could generate enough money monthly to keep Cash Plus in business, Hill responds: "Yes, our businesses generate enough by way of profits to satisfy our client base."

Array of businesses

He adds: "It is not only those acquisitions we would be depending on. That's the mistake our detractors have been making in trying to find out our trade secrets. We are also involved in food distribution throughout the Caribbean and also in North America. Our returns on that are huge.

"We have built up an array of businesses, as is evident by our foray into areas such as telecommunications, finance, hospitality, gaming, real estate, air transport, and now hardware.

"You tell me, prior to these problems that are certainly no fault of ours, have you heard any of our customers complaining about Cash Plus?"

Hill continues: "Cash Plus is only five years old but, as we can all see, we are not afraid to take on what some may view as the impossible. Once we have done our due diligence and we conclude that a deal is feasible, then we apply the laws of the marketplace. The market is where buyers and sellers of products and services meet and if we feel that we can be profitable in our acquisitions, then more often than not, we will be interested."

Final payments

But what about those who say that the announced acquisitions of Mainland International for J$420 million (US$60 million), Drax Hall Estate for over J$7 billion (US$110 million), and the Hilton Kingston hotel J$320 million (US$42 million), have not been finalised? "It pains our detractors to admit that Cash Plus is the largest development company in Jamaica today," Hill asserts.

"The Hilton will be paid for in full within the next nine months; Drax Hall is an exciting new project that will be paid off in full by next October, and the same thing goes for Mainland. We are not a debt-ridden company. I don't believe in debts … I don't like owing people. I will not sit back and allow people to defame Cash Plus anymore," he states.

And to those who remain convinced that his business methods are so unorthodox that it is difficult to see how they could be sustainable? "Not because a method has never been tried before means it is unworkable," Hill argues. "Our detractors will find every way to try to beat us down but as you can see, that strategy has been failing miserably."