(Jamaica Gleaner) Former Cash Plus boss, Carlos Hill, was on Friday slapped with 15 additional fraud charges and could face trial in the Home Circuit Court, where the penalty is more severe.
The new charges against Hill came exactly three days after liquidator Hugh Wildman announced that his team had discovered US$25 million that Hill and his brother, Bertram Hill, had allegedly lodged in a Swiss bank in Dubai in the United Arab Emirates. Wildman said legal steps were being taken to recover the money.
Hill was taken into custody and arrested and charged by Superintendent Fitz Bailey, head of the Organised Crime Investigation Division, shortly after he showed up in the Corporate Area Resident Magistrate’s Court to answer to three counts of fraud on Friday.
The new charges involve J$30 million, which 15 depositors had invested in the unregulated investment scheme.
Last year, Hill was charged jointly with his brother, Bertram Hill, and former executive officer of Cash Plus, Peter Wilson, for allegedly defrauding Cash Plus depositors.
The three are on bail and are to return to court on January 19, 2010.
After the case involving Hill and the two co-accused was mentioned on Friday, the court was told that Hill was facing additional charges.
Deputy Director of Public Prosecutions Diahann Gordon-Harrison, who mentioned the case, said that Hill was charged under Section 28 of the Larceny Act and a preliminary inquiry would be held.
If a case is made out against Hill, he will face trial in the Home Circuit Court.
Gordon-Harrison said the Crown was making slow progress in completing the file due to the tedious nature of the case. She disclosed that there were 500,000 pieces of electronic data and they had to determine what was relevant to the case.
Gordon-Harrison said because the file was incomplete, the Crown was not yet in a position to make disclosure to the defence.
A person who is tried and convicted under Section 28 of the Larceny Act can be sentenced to a maximum of seven years imprisonment.