Hills denied bail
published:
Friday | April 18, 2008
Cash Plus boss Carlos Hill and his brother Bertram Hill will have to spend another month behind bars as they were yesterday denied bail in the Half-Way Tree Resident Magistrate's Court.
Resident Magistrate Glen Brown, however, offered bail in the sum of $5 million to their co-accused, Peter Wilson. Their next court appearance has been scheduled for May 14.
Carlos Hill is facing four counts of fraudulent conversion and four counts of obtaining money by false pretence. He is also charged with one count of conspiracy to defraud.
Bertram Hill and Cash Plus executive Peter Wilson are each charged with one count of conspiracy to defraud.
Flight risks
Prosecutor Dianne Clarkson, who moved for the denial of bail for the Hill brothers, said her request was based on the magnitude of the offences for which they are charged and the belief that both were flight risks. She also claimed Carlos Hill was in danger of public retaliation and was capable of tampering with evidence and witnesses.
The defence, comprising Hugh Thompson, representing Bertram Hill; Deborah Martin, representing Peter Wilson; and K. Churchill-Neita and Valerie Neita-Robinson for Carlos Hill, unsuccessfully argued for house arrest and the surrender of travel documents for the ruling.
Timeline
2002: Cash Plus Ltd, led by Carlos Hill, started operations in Jamaica.
May 2007: Attempted to purchase the Hilton Kingston hotel.
July 2007: Attempted to acquire Drax Hall Estate, St Ann.
September 2007: The Financial Services Commission (FSC) issued cease-and-desist orders on Cash Plus, its CEO, Carlos Hill, and Kahlil Harris.
February 2008: Cash Plus announced plans to resume payments of monthly returns by March 31, but indicated that this was contingent on FSC approval.
April 9: Court-appointed receiver-manager announces that Cash Plus is broke.
