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Cash Plus officially wound up

More than two years after alternative investment scheme Cash Plus Limited collapsed with Jamaicans losing billions of dollars in deposits, the entity was officially wound up Thursday.

The Supreme Court on Thursday ordered the official shut-down of Cash Plus and all it entities following an application by the provisional liquidator, Hugh Wildman.

Presiding judge, Mr. Justice Roy Anderson appointed Mr. Wildman, liquidator, thus giving him more powers to track down the assets of the failed company.

Mr. Wildman has now been given the task to find the assets, sell them and refund money to thousands of persons who lost money in the "Ponzi scheme".

Over the past several months, Mr. Wildman has been kept busy trying to find assets owned by Cash Plus and its former boss, Carlos Hill.

The liquidator has already recovered several properties including a townhouse occupied by Mr. Hill.

Mr. Hill was recently evicted from the multi-million dollar home in St. Andrew.

Sources told the RJR News Centre that Mr. Wildman is now in negotiations with several potential buyers of Cash Plus properties.

He is seeking buyers for four high-end real estate properties which are valued in the region of $100 million.

He is also seeking a buyer for a security company which is valued at nearly $100 million and a hotel in Montego Bay.

                                                    

 

 

 



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