DIFFERENT ANGLE by Kenneth Rijock
The high-yield investment scheme Cash Plus Ltd., saddled with a Cease & Desist Order, has reportedly failed to provide requested information to Jamaica's Financial Services Commission, and has not repaid investors, as was promised by 31 March. A solicitor for Cash Plus has advised government regulators that it does not have the funds to commence repayment of principal and interest owed to its investors.
An application by Cash Plus to appoint a temporary manager to supervise the process of funds disbursement is due to be heard by the Supreme Court of Jamaica today. Whether the company will go into receivership is not known at this time. Was it merely a glorified Ponzi scheme? We cannot say, but World-Check continues to monitor all developments as they occur.
The facts and opinions stated in this article are those of the author and not those of World-Check. World-Check does not warrant the accuracy of any facts and opinions stated in this article, does not endorse them, and accepts no responsibility for them.
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