Cash Plus Group Limited was established in 2002 by mortgage broker Mr .Carlos O. Hill. The organization primarily invests in Real Estate, telecommunications, and the gaming industry (adopted from club documents). Basically, Cash Plus has become a household name in Jamaica primarily because it has become the poor man’s financial messiah and is a way of escape for those desirous of a 10% per month financial hope. To some, it’s a ticking time bomb. If you are considering investing in Cash Plus, you must dare to ask pertinent questions – at least, the most obvious; “Is this ship going to sink with my hard earned money?” Well, I can’t say for sure. But here is some info that may help you decide:
- Investors have been getting their returns. That’s important!
- The Real Estate market and the telecommunication industry are two industries that possess the dollar signs now and for the future. So Cash Plus seems to be going in the right direction.
- Cash Plus presents documented ‘details’ of their plans for future investment expansion/development. It might not be gospel, but it does give investors and potential investors a feel of the ethos of the organization.
Some Red Flags:
- They are not regulated by the FSC. It is paramount that the investor ascertains as much information regarding tax issues before investing.
- I haven’t read any information regarding their compliance with the anti-money laundering act, nor the insurance of clients’ monies.
- It is a high risk investment.
What do you need to join:
- A referral fro ma member
- TRN
- Money – no less than J$100,000 (in the form of a managers cheque)
- Proof of Address
- Valid I. D.
- Character reference (from a Justice of the Peace or Minister of Religion)
__________________________________________________________________________
Andre P. Llewellyn 2007 ©
David said,
September 12, 2007 at 4:26 pm
Andre, can you tell me anything about Higgins Warner. There web site said they pay 20 percent a month but I could not find out anything on if they are legit or a scam. Any help would be appriciated.
Juliet said,
September 13, 2007 at 5:35 pm
Hi David,
I am currently a member of Higgins Warner Group. It would be great if Andre do some checks and give us is views on them. Based on my experience and that of other investors that I personally know, They are very much ligit. They have an office here in Montego Bay at Baywest Plaza. They came to Jamaica in 2005. I believe thay have been around since 1991 though.
They do give a 20% returns monthly. I already receive my first return. Expecting my next return this month. I know persons who have already gone through the 6 months and further. The contract lasted for 6 months. Its is up to you to roll over your principal if you like. In this case, you would need to notify them atleast 2 weeks prior to the maturity date. If not, they will be wiring your principal to you. At that time it would be up to you to start a new contract if you like.
If you sweep all the links on their site, you will learn more interms of the company. It does not mention much about the investment. They are simply borrowing our money and share the profit with us. They have invested in Sports.(see info on site about the World football Idol in Argentina) Read more on the site. Max Higgins is the president of that organisation
They are in Fashion, Entertainment, music, movies, etc. You can call their office here or Argentina if you so desire. I would also emplore Andre to contact me so I can give him the numbers to call.
One of their recent investments is in two hotels at Disney inclusive of a Casino.
They have great plans in the pipeline. These are what you can try and find out.
If you are interested in calling them you can contact me at Juliet.fray@gmail.com.
Also on the site there exist a way that you can contact them for Information. thats what I did prior to starting.
Best of luck
elaine foster said,
September 28, 2007 at 5:52 am
hi Juliet, i just found out about this investment.I am happy to know that you already got a return. can you please send me contact info. such as phone # in jamaica. Thanks and good luck.
Juliet said,
October 1, 2007 at 6:30 pm
Hi Elaine,
Whats your email address?
julieth hall said,
October 1, 2007 at 9:01 pm
this sounds like a very good investment could you send me some information on same, good to know you are sharing with others. I need contact # etc
Juliet said,
October 1, 2007 at 9:40 pm
I am going to need the email address for you ladies.
I am not sure if I can give out numbers on this site.
Juliet said,
October 1, 2007 at 9:45 pm
Actually Elaine,
I got two returns so far. It was on time. I started the 27 so for my first return, I checked early on the 28. Thus it was there from the 27.
#5 Julieth,
I am always happy to share with others as long as its something good.
koli-ann dercruz said,
October 3, 2007 at 2:27 am
i would like to joint this higgins warner group, cand i joint it from here in the united kingdom or do i have to go home to jamaica to joint.
Juliet said,
October 9, 2007 at 6:49 pm
Actually Koli-Ann,
The contract given by higgins warner is also valid in the U.k In case you need further info on how to do it from the U.K. You can contact me. Thats Juliet.Fray@gmail.com. I’ll give you the contact for their office and they will direct you from there.
all the best
tovanya said,
October 14, 2007 at 8:00 pm
i am a jamaican living in the uk and need to open a cash plus acc how do i go about doing so if this is possible . can i get the necessary information about the procedures that is required to jion the company either in the uk or in jamaica. you can e mail me with the information.
rie said,
October 15, 2007 at 2:29 pm
anyone in the Miami area who got their money this month from Higgins warner let me know. I have not received mine for August.
Alecia said,
October 15, 2007 at 7:38 pm
hey juliet,
i am also a memeber of the max higgins investment and I just heard some news that they have freeze their accounts for audit purposes. Have u heard anything?
debby said,
October 16, 2007 at 2:56 pm
what is the minium amount to invest?
juliet said,
October 16, 2007 at 8:21 pm
Hi Rie,
You need to contact them at 876-971-2324 or 876-426-7616. let me know if you still have not receive your returns,please let me know. I have receiving mine. I know the agents are on a world tour with regards to the world football Idol. I am not sure what is happening at the office. I have a feeling that it can be sorted out.
rie said,
October 18, 2007 at 11:45 am
Hi Juliet, you are right, I spoke to Max Higgins and they are making some changes, so he asks us to be patient with him, we received for August now ,an September but not for early October yet. He ask us to give him a few days, as it was the bank in Jamaica that was giving the problem.I believe all will be well, thanks for the numbers I will call them,
jacqi said,
October 19, 2007 at 1:51 pm
hi rie i am also with higgins and ihave not receive my intrest for october i have got 3 acc with them i was begining to get woried i live in london after reading your coment i feel better thanks
rie said,
October 20, 2007 at 10:22 am
still have not received my money from the 8th of October. from Higgins Warner I tried to call the numbers that Juliet posted,but they dont work. Does anyone have their new numbers ? I also sent an email and no response.
jacqi said,
October 20, 2007 at 3:44 pm
hi rie i have not receive my money from 10 october i did phone them and got through phone no 9712324
Mark said,
October 20, 2007 at 4:56 pm
Hi Higgins People,
In every good thing and persons with good intentions there is always some force of evil tyring to knock them down. I know Max Higgins and his office have no problem paying its lenders. The problem is a particular bank that they were doing business with. However the bank had no valid reason to act in a malicious manner and has now started to facilitate business. So like post #15 says, the President asks for your patience and understanding as he resolve this small obstacle. Hence dont worry yourself everything should be back to normal soon.
God bless the Higgins Warner Group.
Anyone that need more information on Higgins Warner, contact me at:
linkupgt@yahoo.com
rie said,
October 21, 2007 at 12:12 pm
Hi Jacqi,are you in J.A. or in the U.S.A ?
Kymn said,
October 22, 2007 at 2:29 pm
Juliet,
I am not getting through to Higgins Warner’s office, can you tell if they are still operating, experiencing problems or what is up. I see that they request patience, but I just am not hearing anything, no e-mail response no telephone answered.
Can you get me an update?
rie said,
October 22, 2007 at 5:01 pm
971-2324 is the number I got them on today after several attempts. They asked for the same patience and told me they have been backed up with work,but is now sorting things out. The lady assured me that this will be cleared up by the end of the month and will not happen again , as they have gotten extra help. They really seem to be doing their best, however some people really do have commitments for that monthly money, hope things are back to normal soon and wish them all the best.
jacqi said,
October 22, 2007 at 5:35 pm
hi rie i am in england glad to know that you got through to them hope thing get sorted soon
Kymn said,
October 22, 2007 at 7:20 pm
Thanks Rie,
I am glad that you got through to them. I guess the wait is still on.
Cynthia L. Stewart said,
October 24, 2007 at 6:28 am
Hi all…i attempted to send an e-mail to julie @ the e-mails addresses that appeared on this blog but they are not correct addresses…Julie,if you’re out there please respond with your corrected e-mail address…you really appear to be well informed and up on the warner higgin’s group. Thanks…Cynthia L. Stewart
Cynthia L. Stewart said,
October 24, 2007 at 6:31 am
Hi All…trying to reach julie…your e-mail addresses may be incorrect as they appear on this blog…i tried to send you an email and couldn’t. Thanks..Cynthia L.Stewart
Rohan said,
October 24, 2007 at 12:52 pm
Hi,
I need a referal for this HigginsWarner club. Can some one recomends me.
jacqi said,
October 24, 2007 at 1:27 pm
hi rohan i will recomend you.what your email address and i will send you detail.
odette samuels said,
October 24, 2007 at 1:36 pm
Hi Rohan,
I will refer you. You can email me at odettesam@bellsouth.net
Rohan said,
October 24, 2007 at 1:40 pm
rohdoug@gmail.com
Rohan said,
October 24, 2007 at 1:43 pm
But can I increase the loan when ever I want to.
odette samuels said,
October 24, 2007 at 2:15 pm
I do not think you can, but I stand corrected. When you enter into a contract, it runs for 6 months. You are, however, allowed to have several contracts running simultaneously.
Ricky said,
October 24, 2007 at 8:15 pm
Hey everyone is this company the same found on the Higgins Warner Corp website. They seem to be in football and film and some other things. If so is this guy Max Higgins from Jamaica and whats the minimum you can invest and how come he is not all over the media like Cash Plus is? Maybe they keep a lower profile which is better. Well just need some info. The banks always seem to be haters whenever you take ur money to put it into somn better.
rie said,
October 24, 2007 at 10:37 pm
Hi Ricky, yes he is the same Max Higgins from Jamaica. What I like about him you can easily reach him in Argentina. Whenever you call he is always available to talk to his clients on the phone. I spoke to him this morning, he was away on business, however he saw my email and made the time to call.He has to be sorting out some setbacks at this time but assured me that by next Tuesday all will be up and running perfectly.As you say the banks hate it when you put your money somewhere better. After all that cuts the huge profits that they make and keep mostly to themselves.
Bobby said,
October 25, 2007 at 12:45 am
Hello, can someone send me some information on this investment or a referral to the club. Much appreciated.
odette samuels said,
October 25, 2007 at 1:35 pm
Hi Bobby, where are you located and what is your e-mail address?
Simon Thompson said,
October 25, 2007 at 3:57 pm
This investment with Higgins sounds great i would love to get involved. Can some one please give me a recomendation?
odette samuels said,
October 25, 2007 at 4:19 pm
Hi Simon,
What is your email address?
Alexander Gilzene said,
October 25, 2007 at 5:49 pm
Hi can someone send me some information on this investment. Much appreciated.
Cee said,
October 25, 2007 at 6:04 pm
Hey Guys,
I mad an investment with them as well. I am expecting the pay out today. Not sure what is happening. No funds yet. Still waiting
C
sasha miller said,
October 26, 2007 at 12:16 am
i am in the uk can i get some info on how to join your company . Plz i have a lot of interest.
rie said,
October 26, 2007 at 12:43 am
Sasha send your email address so I can forward information.
Carl said,
October 26, 2007 at 3:36 am
I made an investment in August 2007, and after many phone calls from Canada where I live costing over $100.00 and taking one full day off from work to be able to get through to them, and having others calling from Jamaica on my behalf , I was finally promised that I would have had September’s and October’s interest (due from the 13th.) deposited in my account .Checked this morning and only September’s payment was made. The bad thing about them is that the 6 girls and one gentleman that I have been talking to over the last month all have different and conflicting answers. When we asked what happend to October’s payment , we were told that they thought that two payments were made. Then they say that they dont know when the other payment will be made because they dont want to give a date and they cant live up to it. At leats one honest person at last! The Principals are away yes, but does that mean that investors must suffer? When Lee Chin is in Canada Does NCB not pay its shareholders and account holders. They dont strike me as being honest or even caring about us. On the other hand Cash plus has never been late neither world wise, always prompt and yet they are being targeted for bashing more that Higgins group. I am going to email the owner in Argentina and se if I have better luck because I am loosing money. My sister has a significant sum to invest wth them I told her to wait for the next two months and see. I know people who got paid the following day after they emailed them last week. Even though they did not respond to the mails. I hope FSC dont have to get involved as they are wanting to. If we complain to them that will not be good for anybody but I need my money. The Jamaica office is not busines like. A contract is a contract.
Carl
MikeyC said,
October 26, 2007 at 4:12 am
Interested in allocating some risk capital in Higgins Group. I live in Florida. can someone please brief me on the procedure? I understand that one needs to be referred by a member. I would greatly appreciate any help that you can provide…
Sincerely
anthony said,
October 26, 2007 at 5:24 am
Hi there everyone .. I am looking to joine the Higgins Group can anyone ref me to this group and send me the web site thanks
Cee said,
October 26, 2007 at 4:13 pm
I still haven’t received my first month interest payment due yesterday the 25th. I am concerned. Is it too early, I don’t think so. I am not nervous about it, but it worries me that I can’t get through to anyone on any of the numbers that I have seen. Does anyone know who I can contact and a number that works…..
Simmy said,
October 26, 2007 at 4:58 pm
If you live in Florida and needs a ref to Higgins Warner. Email me at discotec@bellsouth.net
rie said,
October 30, 2007 at 3:10 am
I am also willing to refer people to Higgins Warner. geomar24@hotmail.com
Le Krox said,
October 30, 2007 at 8:37 pm
Hey, I want to invest in Higgins Warner. Can you send me some information Mi mail is croni13@hotmail.com
Simmy said,
October 31, 2007 at 6:42 pm
All Higgins Warner clients. They resolved their banking issues and start paying investors again. I checked my account yesterday and my returns were there.
rie said,
October 31, 2007 at 9:17 pm
great to hear simmy !!! The Director asked us for patience and he did deliver.We really cannot compare him to Cash plus and the others ,really no one can swear for anyone else, but with Higgins Warner you can talk to Mr. Max Higgins as long as he is in office which is most of the times ,TO KNOW EXACTLY WHAT IS GOING ON WITH YOUR MONEY I too got my money for this month and really hope that everyone else is happy. I heard it was the investors in the U.S. and other parts of the world who were not getting their returns on time.The accounts in Jamaica seem to have been O.K.Anyone who knows other wise please let me know.
Sparkle said,
November 2, 2007 at 8:46 pm
I know for a fact that it is not only the US clients that are being affected, with the late payment of interest. I know of individuals who reside in JA who still have not received theirs. I have one payment due on October 20 and another due today, November 2. Neither has been paid yet. Its a bit puzzling that the are experiencing bank issues yet whenever you speak with someone in the office, the reason is always back log – I dont know which to believe. I wonder how long will it take to clear the log.
Drea said,
November 2, 2007 at 9:39 pm
Hi
This sounds too good to be true. But I am willing to hear more about it. The greater the risk the greater the reward!
Please send me some more detail about how I can invest.
Wilfred said,
November 2, 2007 at 9:43 pm
The back-log is due to the problems they experienced recently with the banks. there are hundreds of customers to be paid daily..so if there is a back log of say a week then it will take some time to clear. They should be about 90% clear now where the backlog is concerned and so things should be back on stream in a couple of days
Bar said,
November 2, 2007 at 11:43 pm
I received my payment yesterday for due date 11/05/07. Drea send me your email and I will give you all the detail about the Company.
Deborah Manning said,
November 3, 2007 at 3:17 am
I always wonder how it is that educated people can be so motivated by greed. You do the math. Invest 100,000 at 20% per month over 5 years. Thats over 32 million dollars. This company would not only make me into a millionare in 5 years but I could comfortably retire. Why then is it that people who REALLY have money aren’t beating down the company’s doors to get these returns when in fact so many people know about it through their viral marketing? Because its just a mathematical impossibility. What could you possibly be investing in to pay me 240% per year and still retain a profit for yourself? I think when it comes crashing down the sound will be greater than the world trade centre…only this time it is really YOUR money that will really burn!
QUICKSILVER INVESTMENTS said,
November 3, 2007 at 8:29 am
Higgins Warner now paying. World Wise still has some auditing issues to deal with. May Daisy paying on time. I also have funds with the followiing sites as well…check them out for yourself…. http://www.finanzasforex.com/quicksilver and
http://www.online-capital.com/content/quicksilverinvestment
rie said,
November 3, 2007 at 1:09 pm
I have heard the story of the dog and the bone several times as a child. Any how there are risky investments and there are investments that are less risky it depends on you ,if my brother is willing to take a risk and I dont want to all power to him. Some people prefer to stay safe and thats all right, but some people want the best for their kids and themselves and the 9-5 jobs wont cut it.It all depends where you settle in life and that is a personal choice.People like Donald Trump and Warren Buffet did not stay safe and achieve what they have , they took risks and lost millions too!!!. It is not a matter of greed either, have you ever stopped to realize the people who contribute the most to the poor in this world ? it is always the rich (the people who some would call greedy)one possible way of making great profits (unbelievable returns) is FOREIGN EXCHANGE.Some of these investment companies are scams no doubt about that, but some have been around for a long time and that is the hope that some people are having right now.It is important that we read what the various companies are investing in ,some are in foreign exchange ,some in real-estate ,cell phone business and so on. Thank goodness for websites like this ,so we can share and learn and not stay in the dark like our ancestors
Odette Samuels said,
November 3, 2007 at 8:26 pm
Deborah,
It has nothing to do with being educated. Life itself is a risk and many rich persons who made it to the top have taken great risks, some have lost and others have been lucky. I really dont see how you classify this as greed. Are you saying that all persons who have taken risks are greedy? Am I greedy when I invest on the stock market? Am I greedy if I decide to invest in any company of my choice, whether they promise large or small returns? Listen, its up to the individual if they choose to risk THEIR money. I have decided to risk mine, if I loose so be it. If I get lucky, more power to me. What does it matter where I invest it? Higgins Warner never said you could continue your investment for 5 years. The contracts run for 6 months and they do not allow you to compound your interest. I think you are confused. Do some research. I know that with Cash Plus you can lock in your investment for 5 years or more. Cash Plus has been around for over 4 years. Do you think that the person who started out in year 1 with $1Million for a year is now regretting it? I dont think so. Was that person greedy? I dont think so. Are you not a bit jealous? It could have crashed and they could have lost but it has not happened yet. I have some money in Cash Plus and what I made in one month is far greater than what I made in an entire year with my money on fixed deposit in the bank.
tamra said,
November 4, 2007 at 10:49 am
There is a reason why schemes like these are illegal in the US, UK, Canada and Australia. Always follow the principle of business: if it sounds too good to be true, it probably is. In these uncertain market times world wide, this “business venture” will eventually crash and burn. Unfortunately, like every scheme before it, its all about timing. Rome was not built in a day and the crash will not happen overnight. The only question one must ask himself is, when the walls come tumbling down, are you prepared to take the loss?
rie said,
November 4, 2007 at 12:16 pm
Foreign Exchange market is no scheme. Why are we so afraid of anything that involves making money ? some of us tend to think it is evil and we are not deserving of it !!!. Yes there are lots of schemes out there but some are actual legit investments.Take for instance Bank of America, they make millions from our money each night off the forex markets !!!Do people call that illegal ? NO !!! The larger countries are more concerned about collecting their taxes than anything else, if there is a way to collect taxes from the investors then that business is legal, if taxes cannot be collected then it can never be a legal business, which you really cannot blame them, but dont you for one moment think that it is our safety why they are deeming these businesses illegal.After all the commercial banks are doing the same thing using our money, only that we are not sharing the profits with them and the government gets taxes .If there are other ways out there that you guys can share to help people lift their standard of life and give hope to the less fortunate then lets hear, but for now I think we have been afraid too long ,thinking we do not deserve so much. We think it is better for us to stay in our comfort zone and be content with the little we have. How are we going to achieve if we dont take risks ?I dont see greed in wanting to take a cruise once in a while or to fly to Paris, what I see greed in is the big Don out there trying to sell drugs to our young people giving them no future THAT MY FRIEND IS GREED !!! I am not saying that hard working people should through their hard earned money into the hands of scams ,what I am saying is IF YU WANT GOOD YU NOSE HAVE FI RUN and that means coming out of our comfort zone at times and looking for the more solid investments.Why do we settle to be the servants ( not that there is anything wrong with that ) all the time, after serving for a while we should have the desire to be served too!!!. Then again YOU CAN LEAD TH E HORSE TO THE WATER BUT YOU CANNOT FORCE HIM TO DRINK.
And yes Tamara good question at the end , but when the walls come tumbling down ,if you are smart and not greedy, your principal plus lots of profit would have been long taken out.
Take care
Bryan said,
November 4, 2007 at 3:16 pm
I will endorse your comment ray, what people must understand is that life in the real world is all about risk. A vast majority of the Jamaican population has taken out a car loan at some point or another in their lives, isn’t that a risk we are taking? What if we should loose our job the day following, or a month down the road? We don’t think about that. Please note that most of our prominent businessman and women today have to take some degree of risk which causes most of these businesses to be successful. Nothing is wrong in taking a little risk, but you should always remember that you cannot afford to put up more than what you can afford to loose. I thank God for cash plus and while there business exist here in Jamaica, it will enable most Jamaicans including myself to stop been a slave to the lender which most of us are, when we keep on working and cannot see our way through because we have to be paying back these bank loans with there ridiculous interest rates.
Kevin2 said,
November 5, 2007 at 5:50 pm
Seems like there are good conversations here. But there are even better ones
on the other page “open channel” (see top left ).
Sharonette said,
November 6, 2007 at 4:26 pm
Hi
I am interested in the blogs that i have seen. Can I get a referral for Higgins Warner. And could i hear some more about May Daisy and what she offers
Sharonette said,
November 6, 2007 at 4:29 pm
Oh my email address is shergambino@yahoo.com
Martin said,
November 6, 2007 at 9:04 pm
Hey Folks,
Lol , Life is all about risk people ..whats life with out taking risk …..we need to think big and outside the box ……but any how i am really interested in finding out a lil more about these investment ventures. Can someone E-mail me a referral for Higgins Warner Group with some information (returns , Contact info etc. ) and could i hear some more about other investments group out like May Daisy.
violator_r1@yahoo.com
Thanks,
U.S. said,
November 7, 2007 at 11:35 pm
There is no doubt in my mind whatsoever that Cash Plus is a scam. Like all pyramid type schemes the people who have already invested money must convince themselves and hence others to invest….it is a form of denial that they could be scammed. The walls will come crashing down and the least able to afford to invest will be hurt the worst when they lose their money. I have seen many scams in my life and am said that Jamaicans and Jamaica are caught up in this false hope. By the way, I am a multimillionaire (U.S. dollars) financial expert and have no interest in Cash Plus or any competitor so my opinion is unbiased. Please protect your wealth from this scheme or, at the very least, be O.K. if you lose all of what you have invested in Cash Plus. God bless and be prudent. Cash Plus is a scam so don’t get taken.
U.S. said,
November 7, 2007 at 11:44 pm
Typo – meant “…am SAD that Jamaicans and Jamaica…”
Lastly, these types of scams always try to cloak themselves in legitimacy by doing good works and/or buying a highly visible building for the public to see. Also, if you don’t understand an investment, please do not invest. There are many people in Jamaica (and majority of Americans too) that have no idea how currency trading works. It is a VERY high risk investment that NO ONE can ever always end up on such a high end…it simply can not be done. The financial markets in the world are too efficient to permit such excessive earnings that Cash Plus claims. Money…i.e., wealth….is ultimately something that is earned. Currency trading has very thin margins and no way any person, group, or computer program can ever earn these types of returns…no way, no how….period.
Carl said,
November 8, 2007 at 1:21 am
So Mr. US , just how did you earn your millions? why dont you teach us how to invest! If you cant, then let us take our own risks; or may be you are just dissapointed that ordinary folks have, can and is earning mega bucks like yourself.
Have a cool day.
Lan said,
November 8, 2007 at 11:01 am
Can anyone give info on how the max higgins warner company works such as wat is the capital put up and what are the returns and is the money insured or is it just like cash plus any information will help i have a problem with their web site.
Stephanie said,
November 8, 2007 at 12:20 pm
Does cash plus have a location in the US. If so, where is that location and what are the requirements for investing.
Rohan said,
November 8, 2007 at 3:14 pm
Depositors scramble amid rumors of bank account freeze
http://www.japantoday.com/jp/kuchikomi/260
Rohan said,
November 8, 2007 at 3:16 pm
Well its every where. The worst thing is to have an account in the US they will freeze it and cancell you visa LOL.
Rohan said,
November 8, 2007 at 3:38 pm
Depositors scramble amid rumors of bank account freeze
http://www.japantoday.com/jp/kuchikomi/260
UK Banking Crisis – Nothern Rock Seeks Help from Central Bank
http://ezinearticles.com/?UK-Banking-Crisis—Nothern-Rock-Seeks-Help-from-Central-Bank&id=735853
Nothern Rock running out of money
http://www.legalbanter.co.uk/uk-legal-legal-issues-uk/40096-nothern-rock-running-out-money.html
UK Bank runs out of money, lines grow
http://bullionmarketplace.com/buybullion/2007/09/15/uk-bank-runs-out-of-money-lines-grow/
Crisis at Citi
As the stock slips, loans sour, scandals surface, and conflicts proliferate
http://www.businessweek.com/magazine/content/02_36/b3798008.htm
You may be wondering what is my point? Well mush up and crash up is happening all over. My money is in there already and from day one I knew it was high risk and I dicide to go ahead.
Bar said,
November 8, 2007 at 3:48 pm
Lan
send me your email address
mathetes said,
November 8, 2007 at 5:09 pm
Greetings friends
I agree that the CashPlus returns over the tenure indicated are unrealistic. But I think a number of account holders are quite aware of the risks and some don’t care whether it’s a Ponzi or Pyramid scheme. I think this blog, through comments and posts, has provided people with basic information on risk management when deciding to invest.
U.S. thanks for your comments, I personally would love you to share some of the steps, investments and decisions the average individual can make to become millionaires.
Andre
Rohan said,
November 8, 2007 at 6:05 pm
Isnt it risky say fo example when a bank loan you their money or when say Courts or Singer trust you their furniture?
U.S. said,
November 8, 2007 at 7:19 pm
Carl – I worked very hard (seven days a week for 10 years+) and started several business to earn my money. If money were easy, we’d all have money. However it is earned. My point is, I would hate for people to invest what little hard earned money they have and be scammed. That would be a pity. If you know and accept the risks, so be it. But those that don’t care that it is a ponzi scheme…shame on you since you will be profiting off the ignorant too. If those levels of returns were out there, then many other people would be contributing money….but that is not the case, it is the small investor with false hope. Money….wealth, is earned….not created out of thin air. You have been warned so don’t come crying to me later…. Cash Plus realy is give me your Cash, Plus your dignity…
U.S. said,
November 8, 2007 at 7:20 pm
Cash Plus is not in the U.S. ………………. If it were, the principals would have been arrested already.
U.S. said,
November 8, 2007 at 7:30 pm
Cash Plus is a scam, you all know it is a scam so quite trying to convince yourselves that it isn’t. If Cash Plus were a lottery, then we’d all pay our dollar and win the $100 million. You will get burned, or your neighbor will get burned. Do the right thing and stop the hype and false hope before it puts people into despair and violence. Real people will get hurt in the real world when this thing collapses.
U.S. said,
November 8, 2007 at 7:32 pm
Also, if the Cash Plus principals were truly altruistic, they’d simply make their money (why would they need your money???) and contribute some of their wealth to charity. No need for them to hassle with all of those clients….except they NEED your money for their scam.
U.S. said,
November 8, 2007 at 7:40 pm
Lastly, I’m not “holier than tho” since I have been scammed before and have seen many scams that I have thankfully recognized and passed on. Fortunately, I could afford the money I lost (didn’t know it was a scam at the time though). Cash Plus absolutely screams a scam here…..so listen to reason, not false hope. When so many are taken in by a scam it will hurt Jamaica…….
keith smith said,
November 8, 2007 at 9:00 pm
a fool and his money will soon depart… Cash plus is actually add cash to the account on top of di hill. As he is the only one who will benefit
BumperB said,
November 8, 2007 at 10:52 pm
Hi all. I’m interested in investing in the Higgins Warner Group. Can someone please send me the necessary details or contact info so I may have a greater appreciation for the investment offer and make an informed decision. Thanks much. My email is bumperbottom@yahoo.com
Oliver BAS said,
November 9, 2007 at 12:53 am
Can some one tell me if Higgins contract have a guarantee for your money to sign on?
Bar said,
November 9, 2007 at 1:26 am
Oliver
The contract is guarantee for six months.
Jr. said,
November 9, 2007 at 3:35 am
A guarantee is only as good as the person behind it…. a guarantee isn’t worth the paper is it written on.
Rae said,
November 9, 2007 at 5:01 am
For all those who do not have the start up money to get into these high yeild investments and those who are already in these investments but would like to earn to cash while watching your investment grow, then this website is for you
http://www.us2jm.com/joy
TB said,
November 9, 2007 at 1:00 pm
Check out http://www.minvestment.com/?r=jettt. I really like it. I think you should try it.
Odette Samuels said,
November 10, 2007 at 12:21 am
TB, how long have you been with minvestmet? Do you know of anyone who has surpassed 150 days and have gotten returns?
Monty said,
November 10, 2007 at 1:10 am
you are all correct about the investments, that its a major risk,we just need to hope and pray that all these agencies last for some time and help people to realise their dream.
U.S. said,
November 10, 2007 at 5:29 am
Monty — Pray? Don’t you realize that the money isn’t coming from the sky but from OTHER POOR PEOPLE. Hence, no matter how long it lasts, people get hurt. Money, i.e. wealth, is created from work.
Rohan said,
November 10, 2007 at 3:15 pm
Work + Investments = meeting financial comittment
I would love to tell some people to shut up, but every one is entitle have their freedom of speech.Money is coming from people who wants to pay for goods,services and pleasure. If I set up a business that say arrange trips to outer space, who you think will go? The ones who have money to spend and thats their pleasure, they do not have to go, but they want to and if the service is fully booked its good business for me.
Another example is the cash plus mega phone or Bmobile , consumer dont have to use the service but its a pleasure for them to have unlimited call time. So money would not be coming from poor people for my business but from wealthy rich people and people who just want pleasure. So why U.S. think its the poor peoples money we getting?
If it was for U.S. alone poor people remaim like a slave under the system. Maybe you done make you money already or not realy interested in moving up in life.
TB said,
November 10, 2007 at 5:39 pm
I am in it for about 102 days now but i get my daily interest that i can either withdraw using e-gold or e-bullion.
Rohan said,
November 10, 2007 at 7:56 pm
I know anywhere there is a visa sign the card is accepted. Cash Point or Point of sales. The only problem they migh not explain is the charges. They have to pay the VISA (TM) franchise and it will be coming back to you. No worries, it will not be a fraction of you returns, Just a drop in the ocean. I bought a ticket online and got to pay surchage fees. I think the card issuer past on the charges. Its not only in Jamaica but everywhere. Even if I buy ticket for an even they charge booking fees here.
So I guess will will pay for the sevices if want to use it. Some cash point here charges £1.50-£2.00. (they are optional anyway) Only I am in the club or some where faraway from the main strean cash point I uses them. They card will be good to use online, over the phone and at POS.
How many banks in Jamaica issues visa debit cards? The card that they issue is only for Jamaica and we still have to join lines. Immaging you dont have to take time of from work to go and pay your bills, or you dont fell like going on the street to pay for some thing. Can any one say why the Banks dont offer a visa debit service where I spent my money and not credit cards? I maybe wrong.
U.S. said,
November 11, 2007 at 6:59 am
Rohan – The problem with Cash Plus is that they can not legitimately make the returns they claim in the business ventures they claim. I have book smarts and street smarts and know a scam when I see one. I have a college degree and several graduate degrees in business and law. So, I am in the top fraction of 1% Americans, including net assets (U.S. $5M+). I know business, I know finance, I know the law. Cash Plus can not offer those returns legitimately. Wake up and face the reality. I have no vested interest for or against Cash Plus and offer only an objective, disinterested opinion. If you want to lose your investment, so be it, just don’t come crying to me afterwards. I legitimately care about the welfare of others and tithe 10% of my pre-tax income to my church and legitimate charities (which I screen to make sure they spend the money wisely to do the most good). I was even an initial donor of a program in Jamaica. I sincerely care about Jamaica and its people, hence, I am sad to see scams that will, in the end, steal peoples’ hard earned wealth. The old saying, if it is too good to be true, it probably is, applies to Cash Plus. Good luck and best wishes….
Rohan said,
November 12, 2007 at 4:06 pm
Oh! I can see that you are just criusing now because you done make your dosh already. Well can you prove that they are a scam? You have law degree and you show know better.Why dont you get some proof and present it to me. I wont ask how diid you get your Assets because its not my business. What happens to all the profits from companies like BNS and NCB? I can assure they go to foriegn investors. If cash plus give us 80% of their profit and they take 20% fair enough. Cash plus have assets in Jamaica and abroad and I think we get the profit off those companies. If you you prove that they are scam I will pull my money.
Rohan said,
November 12, 2007 at 4:08 pm
By the way, I have found a few more clubs which intend to join.
Michael said,
November 12, 2007 at 5:23 pm
Hi Guys,
This is a MUST READ!!!!!!!!!!
Audley Shaw and crabs in a barrel
——————————————————————————–
By Professor David P. Rowe
Media reports suggest that Cash Plus is a major player in the Jamaican economy. Cash Plus, based on media reports has opened negotiations to purchase the Hilton hotel, one of the largest Kingston hotels, in Jamaica, Drax Hall Estate and other huge assets including Mainland International.
Cash Plus is also involved in real estate development in the country. Cash Plus is tantamount to the concept of corporate success in modern Jamaica. Of course, as all capitalists know, Cash Plus has had to take great risks in building its empire.
Any businessman who invests in Jamaica takes great risks. Financing in Jamaica is rarely available to young under-capitalised businessmen (ask the successful Wayne Chen). Cash Plus has had to finance itself and has done so while under constant and fierce attack from the Jamaican financial establishment.
Jamaica operates two economies. The first economy is an official Jamaican dollar-based economy which is heavily regulated and taxed. As a result, nobody wants any Jamaican dollars. If you tender US dollars cash for payment at most hotels, the shrewd Jamaican hotelier always gives you your change in Jamaican dollars. American dollars are too valuable to be given as change.
The other Jamaican economy is the US dollar economy in which all Jamaicans thirstily participate. This part of the economy is totally unregulated, but forms a basis for significant day-to-day Jamaican transactions. Law firms, beauticians and car dealers all take US dollars in preference to the local currency, and the Bank of Jamaica and the threatening Financial Services Commission (FSC), have no capacity or power to regulate US dollar transactions.
The Honourable Audley Shaw served Jamaica in New York with very great distinction in the 1980s while he was a senior executive in the Jamaica National Investment Promotion (JAMPRO). During his experience there, he would have learnt to appreciate the value of financing to investment and the implementation of capital projects in Jamaica. It would be a surprise if a minister of Shaw’s sagacity and expertise did not have a deep appreciation for Cash Plus’ investments in Jamaica. It should be clear to Shaw that Cash Plus, is valuable and central to Jamaica’s development.
I understand that Bear Stearns and Cash Plus are about to do a US$1 billion hotel development at Drax Hall. It is a pity that some elements of the Jamaican financial community are behaving like crabs in a barrel in order to sabotage Cash Plus’ obvious success.
Minister Shaw should intervene to encourage all Jamaican financial institutions to work together for national development and progress. Obviously enterprising American financial establishments will benefit from Cash Plus’ endeavors, while the Jamaican financial institutions, like crabs in a barrel, spread rumours rather than take productive risks.
David P. Rowe is a professor of law at the University of Miami School of Law.
GO BACK
Michael said,
November 12, 2007 at 5:25 pm
Hi Guys,
Here is the link.
http://www.sunheraldjamaica.com/editorial5.htm
Rohan said,
November 13, 2007 at 10:54 am
WELL SAID PROF. Rowe
Most if not all the hotels are own by the oversea investor. I dont have a problem with that, and all the profit must repatriate abroad. Look all those Spanish Chain Hotels for eg. They know that tourism in Jamaica is on the increase and they want to get their cut.
I know of alot of students and athletes abroad who depends on Cash Plus earning so they can concentrate on their studies with out working. A lot of athlete do not have official sponser and need money to carry on. Often parents have to keep burrowing money from the banks and credit unions in Jamaica and send it up to the States to help with cost of living while studing.
In Jamaica there is hardly part time jobs for students, if they have money invsted in Cash +, then they cam concentrate on their studies and meet their financial obligations.
All these finacial institution, as a matter of fact a number of other organisations like U.S.’s will be upset and must find innovative ways of making profit. Technology is moving on yet the business process in Jamaica is still antiquainted.
I can bet a lot of bigger companies will want a stake in Cash + at some time or the other. Just like Youtube or Myspace.
enelra said,
November 13, 2007 at 9:47 pm
Will someone advise me why it is that we cannot get the referral fees from Higgins. Also my interest payments r already 10 days late. please advise me of the contact numbers for max higgins anyone. I cannot get myr eps here to answer the phone & I depned greatly on the interest to finacne some monthly obligations.
Bar said,
November 13, 2007 at 10:13 pm
Hi Enelra,
They are not paying any referral fees at this moment, because the interest payments are more important. They were doing wires today.
Send me your email and i will give you some contacts
Rohan said,
November 14, 2007 at 2:28 am
Ten Reasons Why These Investments Clubs Maybe Good For Jamaica?
1.Poverty breeds crime and violence. If there is less poverty we might have a peace full JA.
2.Reduces brain drain, our young educated people wont see the need to go a ‘foreign’ to live and work. They will stay in JA. and contribute towards it’s development.(some one mentioned using cash plus money to start a business)
3.Taxes collected by the government will (I hope) go towards better infrastructures, e.g. roads, schools, hospitals, proper social services and utilities (some rural communities are still with out proper water system and electricity)
4.A better standard of living
5.Jamaicans abroad might return with their expert knowledge and skills that they gain abroad
6.Increase in competitions, so business both public and private sectors would provide a better service
7.Opens up new and emerging economies
8.Empower previous excluded groups
9.Enable new aspects of social life as financial status will now be disaggregated
10.Finally make JA. a’ more’ attractive place to live and work
The availability of more investment vehicles stimulates capital markets and promotes liquidity and job creation; hence the colonisation by existing financial institutions encourages one to look elsewhere for new patterns of force relation of new economies. That’s what happening now in Jamaica.
Phillip said,
November 14, 2007 at 3:39 am
I have 2 contracts with these people from 2005 and have never received a payment, i thought they were gone until the other day when someone told me about them, so if wat you all say is true i should be getting my richies very, very shortly one way or another.
Rohan said,
November 14, 2007 at 12:31 pm
National Commercial Bank (NCB) makes $6.6b profit
published Gleaner Online: Wednesday | November 14, 2007
National Commercial Bank (NCB), Jamaica’s second largest banking group, has recorded its largest net profit yet, a solid $6.6 billion or $2.68 per share in a year when deposits also grew despite competition from high-yield investment schemes.
NCB’s profit grew $1.1 billion or 20 per cent over its financial year ending September 30, but, even at that level, its performance fell just short of the $6.8 billion record profits booked by its big rival Scotiabank Jamaica a year ago.
So whats their big worries about????
Annt said,
November 14, 2007 at 12:54 pm
NCB just bad mind. Care about the poor my ass, if this was so then pay more interest on the little savings accounts and reduce loan interest and increase their staff salary and benefits then talk to me about care for the poor people of Jamaica. When people want to keep you down they give you a fish, when they care they teach you to fish.
Rohan, I like your analysis at 103. If all works out these long term benefits can be realised. The key though is if all works out. If it dosen’t then the situation is likely to swing in the opposite direction and make things worse.
Nicola said,
November 14, 2007 at 5:16 pm
Cash Plus is the best thing eva happen to Jam Down. Me did a suffa til me buk upon dem. Dem bail me out of my debt and troubles. Every month without fail the interest comes whether it late or early. Cash Plus till death do us part. If yu going down – I am going down with you!!!!!!!
mathetes said,
November 15, 2007 at 12:42 am
Rohan
Very good analysis. Ofcourse there are negative repercussions if the economy is flooded with financial clubs/schemes that only invest in one thing and if they only offer high risk investments. If the facility is set up by the FSC and other not government financial organizations to properly educate people on financial and risk management then cases of fraud and other scams will be reduced.
Andre
I think you should put
Rohan said,
November 15, 2007 at 5:16 am
I get your point, Jamaican people should already know that its high risk and scams. What the governmet should do is to encourage people to invest with due care. What economy you are talking about? Listen Jamaica is not the only place with investment clubs. I can stay in Jamaica and use the Internet to join an investment club in say for example France or USA that is offshore.Who is gonna try and stop me. It will affect you organisation in some way or the other. What they need to do is to find innovative way of making money. These clubs can oporate out of Jamaica and the money still going in, what are you gonna do when the customers go to the bank for their money? Tell the that they cant get it to so so but only if you are doing so and so. That sounds like my mother telling me what to do what my money. I am disgust with these banks tell people that the cant get their money and refuse to sell managers cheque to customer written to investment clubs. Have you notice how much changes happen since last week? Financial institutions offering easy access loans, offerin unsecure credit, BMMB offering car loan etc. That what I want to see innovative ways to make money and offer the public a better deal.
I have a deadline to meet, I got to run but will continue lata..
Carl said,
November 15, 2007 at 5:13 pm
Guys ,
dont waste important brain power on Mr. US. rantings. This is the last time I am going to read his rantings. I am sick of him .For all we know he is fronting for the other schemes. Noticed how he cant give us one idea on how he made his so called millions . If he wants to brag about his so called education and riches he is allowed to, he has that right . But any one who brags like that even though he may have some “degrees” ( even advanced ones), is not really intelligent. Intelligent people never boast over what they have and worst never talk about their giving to Lord as if they have done some good works and so will be rewarded with Heaven. Especially since we are all going to leave it down here one day . I was in Jamaica up to yesterday; after reading Mr. US rantings last week, I took more money down to invest in Cash Plus and took out from the bank all the interest that had accumulated over the months .Interests that I EARNED from CASH PLUS . (Got my three months interests from Higgins Warner too. Hope they will improve from now on becasue they have been very tardy) as usual there were crowds at all the Cash Plus offices . Two people were taking out their money and everyone else I spoke to and observed while I was there for over 2 and 1\2 hours were adding. One of the persons that was taking out his money, was doing so because his brother to whom the investment belonged had died and left him as the beneficery. And he was living abroad and not interestead in Cash plus. While I was in Jamaica, I read in the three newspapers( last Sunday to be exact) where the government were reminding investors in these clubs, that they want their income tax by March of next year. Of course the government is not endorsing the clubs just yet but they recognise their worth and benefit to the government in the form of taxes to be gained. A very good start for long life to these clubs. Government could not want to shut down tax generating businesses (Although Omar did but then he wasnt really a finance Minister.) People, you would be amazed to see who were in line making deposits at Caqsh Plus. I mean big names, peope with intelligence and there were articles being written as well, advising people not to put their money in these schemes. People are not even discussing these articles, no one cares what they want to write. Remember Century National , Workers and Dr Chen Young’s Eagle Bank ? were they schemes? These were National Banks ! yet Omar Davis locked them down and people lost their life long savings. And these were well regulated banks. Everything has risks. I bought some shares last week in 4 different companies in Canada, today they are all trading down . If I were to sell now I would loose. Is the Stock market a scheme? can it crash ? Has it Crashed before ? Is OLINT a Scheme to riff off poor people? I am sure they are not! So why is CASH PLUS being branded by MR US as a scheme? Guys , I tell you; avoid selfish people. I will say one thing that may be construed to mean support for his arguments but it is ceartainly not . It is merley a guide. And it is This {IF YOU CANT SLEEP AT NIGHTS BECAUSE YOU HAVE INVESTED IN CASH PLUS THEN GO BACK FOR YOUR MONEY. But dont feel sorry for those of us who are better off today because of cash plus. Cash Plus is the only one of these investment clubs that have tangible \ fixed assets attached to its operations. So Mr US , go count your 5 million US and leave those of us with our 5thousand who are just trying to make 10 thousand alone . We dont envy you, so please stop grudging us.
P.S. Cash Plus had a meeting at the Arena last Sunday Nov. 11, 2007 to alay all the fears that people like Mr. US is spreading . It was packed almost to capacity . And the big man himself addressed the members and promised
to sue all the rumor mongers as long as they can be identified. Anybody remembered Godfrey Mcallister a Pastor I believe , and former very succesfull Life underwriter and radio personaility? Well guess which new company he is running now and the name of the clud opps! did I say club? out of Turks and cacios ?
May God bless Cash Plus and all these legit. clubs.
Rohan said,
November 15, 2007 at 6:36 pm
I have not heard from Mr. U.S since last week him missi crash!!
TB said,
November 16, 2007 at 12:47 am
http://www.minvestment.com/?r=jettt
http://www.us2jm.com/atmcard
take a look
Jactren said,
November 16, 2007 at 2:22 am
Hi, Is there anyone out ther who will be willing to provide a sponsor for finanzasforex. I would love to join but I understand that I will need a referral. Please let me know. I am anxious to begin
My eamil address is: geotren16@hotmail.com
Patricia said,
November 16, 2007 at 4:06 pm
Jactren, visited their site….. seems very interesting..trying to get more info on them…I too would like a sponsor if there is any one here who is a member
Meikle61@gmail.com
U.S. said,
November 17, 2007 at 6:19 am
Sorry – I’ve been gone. Anyway. Rohan and Carl, please invest all of your money….and even borrow and mortgage your house and your future to invest money into Cash Plus. Seriously, you two are idoits and deserve to be scammed out of your money. Go ahead, invest all you have….I dare you.
For the rest of you that know how money is earned and how wealth is created (i.e. through dedicated and hard work), please invest in something that is sound and not based on pipe dream lottery hopes.
U.S. said,
November 17, 2007 at 6:21 am
The obvious thing is, if you are able to earn 10% a month returns no your skill why the heck would you need to bring in outside investors? You wouldn’t need outside financing. The wealthiest people in the world can not consistently earn 20% per YEAR on their investment, what makes you think some shady company can do 6x’s that???? Cash Plus doesn’t disclose its financial statements for a reason….ponzi scheme.
U.S. said,
November 17, 2007 at 6:24 am
By the way, Prof. Rowe is merely a part-time adjunct faculty member….hardly much of an accomplishment…..nor is he an authority on anything.
Rohan said,
November 17, 2007 at 11:59 am
Sorry mate why the hell would I invest all my money into high risk investment? Dont be silly . We are aware of the implications and constraint if the company get busted. And I wont listen to your stale advise. Tell me something new. I think you are scared that poor people might come in line with you. I know of people who wants keep you down there or dont want you to better off than you. And you Mr. U.S fit into the profile. People can say anything on the Net, MBA, 5 Mil and crop crop crop. You just want to know Cash Plus Business secrets. I know you are a competitor.
TB said,
November 17, 2007 at 9:16 pm
http://www.mimvestment.com/?r=jettt
TB said,
November 17, 2007 at 9:17 pm
Come on everybody, look this way! http://www.mimvestment.com/?r=jettt
U.S. said,
November 17, 2007 at 11:40 pm
Rohan — Believe what you want. Cash Plus is a scam and sham on you if you proit off of what will be other people’s misery. You have a very naive understanding of money and wealth. Why the heck would I care if other people make money??? I have given more to charities than you will probably ever make make in your life.
U.S. said,
November 17, 2007 at 11:46 pm
Also, according to Cash Plus, they buy real estate and buildings….how it that a high risk investment and how can that actually earn the returns they claim…. if you know anything about investments and markets you would know that that return is not possible…nor would you need other people’s money…
G.E said,
November 17, 2007 at 11:52 pm
TB . DO U KNOW ANYONE WHO RECEIVED A PAYOUT AFTER THE “150″ DAYS INVESTMENT?
G.E said,
November 17, 2007 at 11:58 pm
TB. SORRY, NOT ENUF INFO . YOU WERE PREVIOUSLY ASKED IF U KNEW ANYONE WHO RECEIVED THEIR ” PAYOUT” AFTER THE INITIAL REQUIRED 150 DAY INVESTMENT IN MINVESTMENT? IT REALLY LOOKS TOO GOOD TO BE TRUE . BUT I MIGHT BE WILLING TO TAKE A RISK BUT CAN’T FIND ANY INFO ON ANYONE WHO RECEIVED THEIR PAYMENT AFTER 150 DAYS. IF U DO PLEASE LET ME KNOW. THANKS . G.E.
TB said,
November 18, 2007 at 3:51 am
I personally dont know of anyone who has been in mimvestment for 150 days, however I’m in it for 107 days now. I get my interest payment almost everyday except for those days that they have sertain holidays. I like it.
TB said,
November 18, 2007 at 3:53 am
sorry ‘certain’
ky said,
November 18, 2007 at 2:21 pm
i have higgins warner payments outstanding from the 1st of November and i actually have 3 accounts hat are currently outstanding and when u call the office no one will give you a straight answer. Plus they speak to you as if u r asking for a handout and they r doing u a favor. I got no response to e-mails to the argentina office nor did it prompt anybody to pay me my interest. Not to mention referral fees which are not forth coming. They r facing the same issues as cash plus but at least cash plus has the decency to treat its investors with respect by communicating with them. H.W. justs acts as if u are begging tem something and they r doing u a favor.
gary said,
November 18, 2007 at 2:39 pm
Att: KY, I know what you mean. I had payment due on the 30th of Oct, and I just received my payment last Friday of this month. According to what I am hearing, H.W. no longer gives payout through the banks. You have to go to your local office and collect it or do like I did send a friend. I called someone I know personally in the office and give them permission to hand over my check. According to my friend there is a sign posted at the office stating that they are having problems posting the the checks with the banks. Check it out for your self, but this is the story I got. People are getting their checks it just real late, which is not good for customer service and relations. I also heard that they have acquired some property too, a hotel and casino. I do hope you get the problem with H.W. resolved.
G.E said,
November 18, 2007 at 4:33 pm
TB . THANKS .MY PYMY WITH H.W. WAS LATE FOR OCT. HAD A FRIEND P/U CASH FOR ME. BUT I STILL NEED INFO ON MINVESTMENT. NEED TO KNOW IF ANYONE EVER RECEIVED PYMT AFTER 105 DAYS. I PERSONALLY KNOW OF CLIENTS WHO RECEIVED THEIR INVESTMENT IN H.W AS PROMISED AFTER INITIAL 6MTH.
Rohan said,
November 18, 2007 at 6:16 pm
Yeah Yeah go on contradict yourself. Anyway keep up the good work giving to charity. God will bless you U.S. I kno Cash Plus is your competitor.
————————————————————–
Bar said,
November 19, 2007 at 2:33 am
This email was send to all HW investors from the President on 11/16/07
Now effective December 4, 2007 all and any late interest payment will be updated and all outstanding refferal fees will be update on December 10, 2007.
ky said,
November 19, 2007 at 1:48 pm
thnx gary. I guess that means I need to make my way to their offices. I realy hope they resolve their issues soon because i like this investment. Can anyone give me more info on May Daisy. I know persons in it but i dont know anyone that has actually taken money out, all my contacts seem to just want to put money in and watch it grow. I need to make sure that you can actually get it back. I want to know how soon after a request they pay out and how, also how do you go about getting the money to them. It doesnt seem to be too staright forward
P.S. Rohan, Mr. U.S. is quite lucky…he has his money already.. I dont and I want it and I know that there is no way in hell i can ever work long enough or hard enough to make this kind of money. I am willing to take a chance. If I lose out then so be it but I sure as hell am going to try. But, the way of the rich is to make sure that the riches remain with them and their cronies only, they dont want people like me and you to be on par with them. If so who would they lord it over. So Mr. U.S. leave us be, we will take our chances, and you be afraid, be very afraid cause we will be moving in next door if we havent done so already.
G_Nice said,
November 19, 2007 at 10:55 am
I just want to say that this has been great thread with some very interesting points.
U.S. said, you make some very interesting point, but your points are lost on me because you consistently choose to insult people rather than provide rational explanations to your views.
I for one would love to hear these explanations. I have 20 years business experience, make top 6% for income, have done relatively well, but can admit that there is a lot that I don’t know.
As a disclaimer, I have invested in CashPlus. When I first looked at company I said the same thing as US said: Scam. I spend weeks researching ponzi schemes, pyramids and high-yield investments. My conclusion on Cash Plus was non-conclusive. I still cannot rationalize how they can afford to pay 10% returns monthly (Though I fit in the group that believes they are not obligated to continue this indefinitely, so at some point can restructure their loans to adjust to the market conditions), but am intrigued with the investments they are making (Which is not typical of a ponzi scheme – in fact is the lack of investment that makes it a ponzi scheme).
In my view there are two things, that need to be separated: High risk investments and scams. We can debate the risk and merits of both and draw parallels with or extract the different from more traditional business models. What matter to me personally, is the legitimacy of what they are doing.
From my point of view, if Cash Plus is legitimately trying to innovated and create wealth, even if they go down in flames, based on what they have provide the common Jamaican (income, opportunity, greater knowledge of investment, hope) I would have been happy to have invested my money with them.
What I think is important to differentiate are scams. If Cash Plus, Olint, Higgins and other are indeed scams, then people need think about the long term consequences. I am not financial genius, but if they are not generating revenue outside of the investor loans, then nothing has gotten better for Jamaicans. We have just taken from Peter to profit Paul.
Rohan said,
November 19, 2007 at 11:59 am
Mr U.S is just making the same pathetic point over and over again with out any proof. And ‘We are not gonna invest all we have’, at least I am not. So dont be silly. You cant back up what what you said with substantial proof.. And Cash Plus is not the only company paying 10%, you never mention the others. So what are the alternatives?
By the way these investment are all over the world but never in the public sphere.
U.S. said,
November 19, 2007 at 4:03 pm
It would not be right to “leave us be” while you beat the invest in Cash Plus drum leading others down a path to lose their money. Invest and let the fictitious returns roll over. Ask anyone in the markets that Cash Plus claims to be in if those returns are possible. They aren’t. I have personally helped probably 100 people earn money and invest wisely in my lifetime…I give advise without any compensation nor have any interest in what they actually invest in. The buildings that Cash Plus “owns” are merely a PR front. For a few good examples of scams watch the show “American Greed” on CNBC. Scammers use all kinds of fronts, including charities and religion.
Shame on those that perpetuate this scam and encourage others to put their hope in it. Shame.
G_Nice said,
November 19, 2007 at 4:41 pm
U.S, Here are the questions, I am hoping you can help clarify for me. Can you give examples of Scams that employee over 1000 people? When making acquisitions and joint partners wouldn’t there be a process of due diligence?
I am assuming companies such as the Hilton would have a strong group that is quite familiar with mergers and acquisitions, that they would be quite cautions in whom they partner with and that it would be almost impossible to present weak or fraudulent data by them. I doubt they would let just anyone operate under their name.
Beyond money, companies need to be able to demonstrate a strong management team, leadership and a vision for group to be considered for serious joint investment.
That said, not of the above proves in anyway that Cash Plus has a legitimate model for providing 10% monthly returns.
The fact that this is unsustainable is a very strong point and should not be ignored, but it in itself does not prove that a company is a scam. Just give a very strong indication that one might be.
U.S. said,
November 19, 2007 at 7:15 pm
First, if you have a “real” business model, you could easily borrow money (albeit with a junk bond rating) for substantially less than 120%. There simply is no reason to borrow money at that rate for a legit business….if you want to be charitable, then go and give away money on the street….why promise returns that are not possible except to take other people’s money in a scam.
Who knows – Cash Plus isn’t saying – what they own exactly in the Hilton. As we well know in the US, you can buy a property with very little down to claim you own it but actually have a negative net worth.
G_Nice, your assumption on the Hilton thing needs to be revisited.
Cash Plus is not some sort of magic group of people who can throw around business buzz words (joint venture, synergies, blah blah blah) and suddenly make things profitable. If they are so talented, why do they need YOUR money?
There is no free lunch…
U.S. said,
November 19, 2007 at 7:33 pm
“Classic economic theory would say that this, if nothing else, is the beginning of the end of the quick money in foreclosures. Any fat source of profits inevitably attracts competition, and as the field gets more crowded, easy dollars are squeezed out.” Money.com
You certainly can’t wring out 120% annual returns on real estate or hotels….just take a look at Hilton’s (the parent company) income statements and balance sheet.
G_Nice said,
November 19, 2007 at 8:38 pm
Hey US thanks for your responses. I agree that Cash Plus cannot sustain a business model on 120% returns. That being said, it would be interesting to know how much of the capital they raise for acquisition is funded through high yield loans. Based on some of the data out on the web, it may not be a substantial amount (Some estimate they have 40,000 members with an average principal of $300US). Clearly, more insight would be needed on their financial picture to better understand this.
In terms of your comment, about borrow easy money, that is exactly what I see happening. I live in Toronto and have been invited to two limited opportunities where investors can make up to 30% annually on their money. These offerings are from well know reputable land developers and required a minimum investment in the neighborhood of $100k CND.
As you are well aware, you will be hard press to find any standard investment vehicle in the US or Canada that will offer that kind of returns, yet millionaires invest in these kind of scheme frequently. In fact, the security company that was brokering the project specialize in these kind of investment and rarely deals with clients who invest under a million.
I see great parallels between what I can validate is a very legitimate investment paying 30% returns and Cash Plus’s 10% returns. In particular, both companies were look for cheap money. In fact, when I spoke to the President of the development company, this is exactly what they explained to me. It was solely an opportunity cost issue for them.
Had they gone through the traditional route, they would not get through the red tape needed by the banks to meet profit projects (more so they would have missed the window of opportunity) and would be held ransom by the banks in term of when and if funding would be released.
They gave high returns in lieu of greater flexibility and the opportunity to capitalize. I also have a friend that is doing something similar, but guarantees that I will double my investment. These are not traditional investment vehicles, are high risk, but pay great returns.
Now, I can rationalize 30% returns over 5 years. I do struggle with 120% returns. But you know what, two years ago, I didn’t know there were vehicle that could pay 30%. That is why, while I will keep a healthy level of skepticism until I see solid proof of how Cash Plus makes their money, but will not put a label on them.
U.S. said,
November 20, 2007 at 12:05 am
G_Nice — You can make a 30% return investing in a well run land development plan with a professional team, but there are risks, and that return may take a year or two.
With Cash Plus, all you have to do is see what they are claiming to invest in and you will no 120% return is not possible (actually a 10% return each month compounded monthly is higher than that). The other issue is that everyone seems to “rollover” their investment and profits. At the very least you should take out your investment capital so you are just playing with the house’s money….but greed gets the better of most people.
When I heard what Cash Plus was investing in, I knew it was not possible. As far as the “red tape” from banks…it is there for a reason. Even people with enormous cash balances don’t make those kinds of returns and they have no such red tape. For me, Cash Plus has enflamed a lottery mentality that clouds one’s better judgment to be prudent with one’s hard earned money.
If you get CNBC, you should watch the show “American Greed” it is very interesting on the psychology of people who turn over their hard earned money to these scammers. If it sounds too good to be true, it probably is.
Michael said,
November 20, 2007 at 11:31 am
I remember in the early 90’s when tech stoch was king and all the analyst had a different way of valuating the new .com companies ( which was crazy and totally the opposite of what they use to say) and Warren Buffet stood his ground and didn’t invest in any tech company and lots of other investors made money but Berkshire Hataway Fund was loosing money.Finally tech crashed and Warren was vindicated. In those days I did not hear any talk about ponzi scheme or anything like that about tech and that was exactly what it was , alot of company with a dot com name and no real assets. People of means investing hugh sums of money ,people of less means investing much later then the previous cashes in and the latter looses. Investors whom lost 100K or more got high priced lawyers to recover money for them . Who helped the people whom lost less.
US you have no doubt created a storm of controversy on this blog which I must say provide for good reading and some entertainment too.About Cash Plus, no doubt they are acquiring lots of big and small assets as reported in the media and there investors or club members are been paid. Also the banks are on a campaign to disrupt High Yeild Investments through sabotage and rumors, these are the facts. Everythings else about the impossibility of paying 10% monthly is an opinion because we don’t have all the facts and we all are just speculating. I for one like what I have found out about CP and I am also a “LENDER’. You really need to be more respectful of others opinion and of ther right to risk capital in search of rewards. You also disreguarded the article by Professor David Rowe because you think he’s no expert in finance it just clearly shows intolerance and no respect for others opinion. I think you have real concerns for some of the investors as it can be seen that there research is limited to what is been said on this blog , form the web sites of the company they seek to invest in and rumors. Advice is better received when offered through information and past experience as oppose to a tongue lashing.
Rohan said,
November 20, 2007 at 1:38 pm
Instead of Cash Plus burrowing from the banks and pay them the interest, why not pay us that sort of interest? I know they would have to pay back the bank more than what we are getting right now. All U.S is talking about is quick money and greed. I will ignore you from now on. You have nothing new.
What the banks going on about? Why dont they lend people the money to put in Cash Plus. Every body’s money going back straight into the banking system. And I know they get to use it before you take it back out, use it to lend out and make interest on it and trade. So every body wins.
So whats new this week? More price increase, I bet they are gonna blame Cash Plus.
And Cayman getting a cut out of the property insurance market, are Jamaica’s insurance companies gonna give them a fight too?
Earle Ramage said,
November 20, 2007 at 4:11 pm
Quicksilver. Please tell me some more about Online Capital?
ky said,
November 20, 2007 at 5:05 pm
Can anyone tell me anything about May Daisy?
U.S. said,
November 20, 2007 at 6:03 pm
Michael – Warren Buffet would not ever ever ever invest in Cash Plus. There is NO transparency with Cash Plus and Warren Buffet’s first rule is to KNOW THE COMPANY AND ITS BUSINESS that you are investing in. The dot com companies of the late 90’s were being valued for their growth potential…..a lot of hocus pocus and most people didn’t understand the Internet at the time. Well, they lost money. Same goes for Cash Plus…who actually understands is? My guess is either it is a Ponzi scheme (more likely) or a money laundering scheme (less likely). Just as no U.S. bank would ever loan you money to invest in a stock or Cash Plus for that matter….nor should any responsbile Jamaican bank either.
As an aside, I find it interesting the odd paranoid attitude of some of the posts here about being shut out of investing, that the banks control everything, etc…. I guess that comes with some of the history of Jamaica (and, no offense meant, a lack of understanding of financial markets). If you are disenfranchised, then I can understand that perspective, even if is is wrong. Money and wealth are earned…you must do something that creates value. Cash Plus’ businesses don’t create the kind of value that they claim to be able to return. It is a lot of hocus pocus. If those levels of returns were possible then all kinds of people would get into those businesses and bring the return down to an amount similar to other businesses.
If you MUST invest in Cash Plus since you are all in a frenzy and afraid you will miss out, then at least withdraw the amount you put in once you double your money. But again, your gains will be from other people’s pain in a ponzi scheme or from the pain of others if it is drug money laundering.
I wish Cash Plus was legit and true….but it ain’t.
Be smart like Warren Buffet, only invest in what you know….if there is no transparency and you don’t know what they do, stay away.
gary said,
November 20, 2007 at 7:01 pm
ATT: US, what do you think about “Capital Hill FX Club”? Check out the site and give me your opinion. Thank you. http://www.capitalhillfxclubs.com/home.php.
gary said,
November 20, 2007 at 7:01 pm
ATT: US, what do you think about “Capital Hill FX Club”? Check out the site and give me your opinion. Thank you. http://www.capitalhillfxclubs.com/home.php.
Carl said,
November 20, 2007 at 9:42 pm
Rohan,
you have finally wised up! Didn’t you know that Sanford & Son makes better comedy? I stopped reading that persons rantings over a week now but I could take one guess and I would be probably right about what he is ranting about these days. Unfortunatley some seemingly intelligent people have decided to take him on. In time, they too will find that it’s not worth the effort . When I was a boy I learnt a nursery rhyme that stuck with me. It says : “Love not to brag
Love not to boast,
Grief comes to those that brag the most”
And I might add, boast without substance. It becomes boring if you are merely repeating the same old arguments. It dosent make for a lively debate if you can’t lift the dialouge. A good debator always put forward both sides of the issues and may chose to come down on one side or the other; only after presenting emperical data and reasoned arguments. One cannot just guess the cause and effect of a theory and present it as valid analysis.
This person has no inside knowledge of how CP works but he is willing to bad mouth and call them names. At the same time he dosen’t even use his name. he hides safely behind a pseudonym. He reminds me of some politican . They can tarnish peoples reputation in parliment where they are protected but dare not repeat the same things out side. debating with this person is a waste of time.
Many times economic models fail and other times they succeed. The great world bank have recommended economic models that have failed and caused severe hardship to no good end . Recent examples; Argentina and Jamaica. Text book economics is well and good, if all variables are constant . Supply and demand is all that matters in economics.
Australia was able to come out of economic crisis by trading in the $1trillion forex market and GM made more money in the said market a few years ago than they did in selling their core products, cars. I believe He has to resort to name calling because his vocabulary is challenged. He calls us (You and I )Idiots. He dosent pick out the points that are presented by us bloggers and address them point by point. He has resigned to being parochial and redundant. All he can talk about is how much he gives to charity.
Poor fellow!!!
Rohan said,
November 20, 2007 at 11:08 pm
Well said my friend. I amy not know much about the financial markets, because thats not my field but I know my theories. And our unworthy opponent seems to be obsessed with only Cash Plus, but what about the other schemes? All I can read is ‘take your money out of Cash Plus now, they are sacm, poor peoples money, pozi scheme, drug money’ with out any substancial proof. Isnt that unethical and irresponsible for some one with that stature (so dem say, we not sure is a lie).Well at least he made one constructive point which is to get pricipal out after earning your interest and that was everybody’s plan, doh. Well sir you are on the right track to further constructive arguments. But whats worring me is why keep refering to Cash Plus only and there are so many other schemes around? There must be a conflict of interest.
The other day I over heard the security supervisor scolding of the subordinate because he took an unauthrised extended lunch time to pay his bill. He came back late because the ques were so long. If he had a VISA/MASTER debit card he could pay over the net or using his phone.(eg. Paymaster; you can log on and pay bill or make financial transaction on their websites.
What I want to know is if any one can tell me why Jamaica’s financial institutions do not issue VISA or MASTER Debit Cards? Even recently a credit union tries to issue a credit card but was block by the regulators.Inam sure a Visa or Master debit card would have proven bennificial, efficient and productive to the society.
People would be able to buy online both home and abroad, pay their utility bills over the phone (with out taking time off from work or even do business right from their living room, in this time we still have to do the old face to face transaction which is proven to be counter productive to the country or the employee.
CIA said,
November 20, 2007 at 11:37 pm
Cash Plus is being investigated by our International Fraud Division. Those involved will be brought to justice.
- Special Agent James Johnson
Carl said,
November 20, 2007 at 11:45 pm
Ah ha!
Carl said,
November 20, 2007 at 11:45 pm
JJ from God times I take it another comedian?
CIA said,
November 21, 2007 at 12:00 am
Our investigation is not a joke. We are investigating various fraud issues and are monitoring the Internet and will trace all IP Addresses. We know who you are and where you live. These funds are involved in terrorist operations financing. – S.A. Johnson
Carl said,
November 21, 2007 at 12:04 am
You dont have to trace IPs , IPs can be borrowed, CP has all the info. you need just subpeno them. JJ from good times or Sa Johnson whatever.
Carl said,
November 21, 2007 at 12:06 am
CIA agents never give out their identity who trained you
CIA said,
November 21, 2007 at 12:07 am
Carl – We have a way to trace the ID of each computer processor via the embedded serial number transmitted via your web browser. We also have the means to trace every print from a color printer (ink jet and laser) back to its source. We are not kidding.
http://www.seeingyellow.com
Carl said,
November 21, 2007 at 12:15 am
I know that can happen . Anyway see you in court JJ or yellow or whatever. Good Morning I am going to bed
CIA said,
November 21, 2007 at 12:17 am
We will seize any and all assets involved in any money laundering or terrorist activity. The Department of Treasury, Enforcement Division is also involved in the investigation.
Rohan said,
November 21, 2007 at 8:37 am
Excuse me C.I.A involves with national security come again better you give the case to F.B.I are you selling printers or ink? You guys are funny..
CIA said,
November 21, 2007 at 1:04 pm
Rohan – FBI is domestic, CIA is international. Dept. of Treas. is both. We know.
Rohan said,
November 21, 2007 at 5:37 pm
CIA is concern with national Security issues. What you domestic? FBI was in Iraq the other day when the security guard shoot the Iraqi. They were in Wales to pursue an internet crime.
CIA website;The Central Intelligence Agency (CIA) is an independent US Government agency responsible for providing national security intelligence to senior US policymakers.
Keep selling your printers and ink at least you start a business with your investments.
Rohan said,
November 21, 2007 at 5:41 pm
According to the CIA website they are more consern with terrorism,weapons proliferation to military and political issues. Unless earnings from investments are funding terrorism then you have a case.
CIA said,
November 21, 2007 at 5:42 pm
The FBI will assist in investigations, but it is not their jurisdiction, hence they assist those agencies that have the jurisdiction. The CIA has international jurisdiction with an office in New Kingston. Money laundering, drug smuggling, and wire fraud are serious crimes Rohan.
Rohan said,
November 21, 2007 at 5:50 pm
http://www.fbi.gov/contact/legat/legat.htm
THE FBI’S INTERNATIONAL PRESENCE
Why does the FBI have an international presence? To protect Americans.
As Director Mueller notes, “the globalization of crime—whether terrorism, international trafficking of drugs, contraband, and people, or cyber crime—absolutely requires us to integrate law enforcement efforts around the world. And that means having our agents working directly with their counterparts overseas on cases of mutual interest—not only to solve crimes that have been committed, but to prevent crimes and acts of terror by sharing information in real time.”
Rohan said,
November 21, 2007 at 5:59 pm
Well its possible they are in Kingston. But its not listed on their website. The only carrib site is Dominica Rep and Barbados. Well Every embassy have a legal attatche any way.By the way, intellegence agencies monitor the media as a part of their intell. gathering. Oh please, the CIA in Jamaica is no news, From Manley days and the cold war.
Michael said,
November 21, 2007 at 9:01 pm
US you sound just like my big sister.Please be open and objective .Use the gleaner’s search engine to research Cash Plus there are many articles for and against . Most people at this time , I think know there not dealing with a bank and there money is at risk ,but for the higher returns most have decided to take the chance. I’m positive youv’e lost money in legitimate investments before . As I’m sure you well know most small business fail in their first year . Yet banks still give small business loans and fools, sorry smart people still try to start business. Just like people whom want to try Cash Plus and the other schemes and they all have the right it’s there money.
Evadney said,
November 21, 2007 at 9:28 pm
It’s been on the news that some banking institutions are ganging up on Cash Plus by holding out on honouring the monthly interest cheques — wherein they hold funds for extended days, etc.
My take is: if banks are truly doing this I hope that the Cash Plus Investers having this problem move their bank accounts to the commercial bank on which the Cash Plus cheques are drawn. Can’t see Cash Plus’ own bank not honoring A Cash Plus cheque…
Rohan said,
November 22, 2007 at 11:48 am
Well they are not spiting Cash Plus. They are spiting us. But I intend to move my money. The problem is that there are limited banks in Jamaica and limited opportunity to move around. I bet they keep the money for 15 days and make interest on it. Can you imagine there are only four mainstream banks in Jamaica. Thats why they can do that to us cos we have no where to turn to. I guess its forbiddin to associate with cash plus. Can anybody say if its only Cash Plus facing this problem????
Rohan said,
November 22, 2007 at 11:50 am
I got move my money, that is to another bank. What about the credit unions can we put payments there?
enelra said,
November 22, 2007 at 11:59 am
I still ahve not gotten my interest or referral fees from HW. Can someone please tell me what’s happening my email address is arydunn@yahoo.com. Bar please link with those contacts.
And 4 US please don’t think I’m worried that the club will crash. I just need the funds to tie up a lil loose ends. I’m not at all worried I’m a beleiver. Nothing u, or Lee-chin or clarke et al says can tear me away from CP r HW. they have been life savers & I preach it from the mountain tops every time.
Michael said,
November 22, 2007 at 1:14 pm
Rohan try JMMB I’ve headr from my people in Jamaica that they are not bashing CP. in fact they claim to do business with them.
Enelra it’s good that you are confident in your investments. I spoke to Higgins Warner earlier this month when my payment was also late and they said problems with there bank in JA. is causing them to be late with payments.
winston morris said,
November 22, 2007 at 4:46 pm
Hi Ky, gary i’m interested in joining HW and would like their address and tel #. You can email me at winstonmo@yahoo.com
Jason said,
November 22, 2007 at 7:06 pm
Previously I have heard numerous comments directed at the Cash Plus group of companies in regard to their investments division and so fourth. I proudly announce that I can an employee of the company.
I have been given the privilege of referring persons to the company and to give all the individuals, which I referred, intimate information which will affect the company and its investors.
Please note that, I will be first to obtain such information, as an employee of the company particularly in the department from which I belong.
For referral and information after you have jointed our family please sent an email to ssteppa@yahoo.com with the subject (Referral. CP).
Rohan said,
November 22, 2007 at 7:48 pm
I have my contact at JMMB coming to the UK shortly. I will have a chat with him.I have a BofA account but I am not sure if C+ will put the money there for me. But I will have to be in Jamaica to sort it out. Thanks anyway.
RNFORU said,
November 22, 2007 at 8:22 pm
http://www.finanzasforex.com/Jamaican50
Michael said,
November 23, 2007 at 11:59 am
# 174 Jason I’m happy that someone with affliation to Cash Plus will be communicating with the people they refer. That is the problem with CP communication or the lack there off. I’m a member and all I know about them is from the news media and there web site . What they’re asking you to do , for a referal fee I’m sure is what they should be doing as a company . All the rumors you’re hearing about CP is partly there doing because of a lack of information. It’s common knowledge that they don’t respond to emails, phone calls or faxes in a timely manner, if at all.
G_Nice said,
November 23, 2007 at 8:44 pm
Hey Jason, Any day you can share about Cash Plus’ business model would be greatly appreciate. As you probable notices, rumors have gone rampant. Information from Cash Plus is probable to most valuable asset next to peoples loans.
U.S. said,
November 24, 2007 at 1:30 am
Well….keep on believing… if you invest on emotions and your religion is Cash Plus, then you are all on your own. You should be rational, not emotional when investing. As far as banks go, I wouldn’t cash a check from Cash Plus either…..not until the funds have clear. Lee Chin is wealthy for a reason and so is Warren Buffet, listen to them. These “investment clubs” where you as a member only give your money, but don’t make any decisions, aren’t investment clubs. Keep preaching it from the mountain tops since you’ll need a high place to leap from once it crashes. Best wishes to the prudent, the greedy will get what is their own fault.
Rohan said,
November 24, 2007 at 5:40 am
This thing is getting bigger and bigger. And there is gonna be some sort of riots, against those financial institutions and peoples life will be at stake. If the banks continue what they are doing there is gonna be some vigilanty events. If this reach in the dancehall and the DJs are so influencial in the Jamaican society what will happen next.
If I work at these banks and they want me to close my accounts with HY investments of get fired, I would chose to get fired. You got to fight for what you believe in. My friend worked for NCB and was not gettting enough money and they even treat their staff like dirt. There was no scope for promotions, just the dead end cashier job.
Event the Unions getting involved how far this thing gonna reach? defending their members. Whats the banks rations to forbid their staff from investing with whom they want to.
I alway tell myself that once you have a qualification you can tell your employer to piss off. They can take your job but not your educational achievement.What would happen if all the staff refuse, will they sack everbody. I am sure alot of their junior staff have money there because they are not getting much for their pay.
My question is are the banks acting because of pressure from else where? for example BOJ, IMF, WB, USgov. I would not be surprise. Any I hope there is no vigilanty events or anything illegal.
And I will continue to ignore some one.
CIA said,
November 24, 2007 at 12:11 pm
The problem for the banks is that they have to follow laws and could be held liable for money laundering, hence they must take steps to disassociate themselves from these “investment clubs”. In the end, the banks will be the ones standing, the banks should never have allowed such deposits in the first place. Now it is Crash Plus.
CIA said,
November 24, 2007 at 12:27 pm
Why doesn’t Cash Plus just issue debit cards instead of checks which they try to “float” at the cost of legit banks? Banks should stay away from these schemes.
Rohan said,
November 24, 2007 at 5:38 pm
Why cant they come up with the proof that its illegal money? Why the MPs are not saying anything? The banks are losing out of the diaspora money and they dont like it. My money is legal you can check my Barclay account. I work hard for it.
Rohan said,
November 24, 2007 at 5:41 pm
And CIA you better be careful the C.I.A. dont charge you to use there name.As those guy are serious about copyrite laws.
CIA said,
November 25, 2007 at 1:36 pm
Once a crook and caught, go somewhere else and try it again and those that are more easily scammed and with less oversight. We are not concerned about stealing his “trade secrets” (there are none) just want to get him for the ponzi scheme he has set up.
Heads up said,
November 25, 2007 at 6:09 pm
CIA, do you know that you stating via the internet that you part of or a representative of a U.S. government agency. Do you know that if you are not a part of this government agency this is an illegal act under Title 18 U.S.C. section 913 as defined under Title 18 U.S.C.section 202. Think about before you do it my friend. It may be funny to you, but some body may not find it amusing.
good luck guy,
Janice said,
November 26, 2007 at 11:02 am
I just started with Higgins Group , last Oct and expected a deposit to my account Nov 20th , still none , anybody out there with the same problem
Rohan said,
November 26, 2007 at 11:17 am
Make im stay deh.Impersonation is a serious crime. And if he believes they cant find him because he is on the net think again. Your cookies and your email address is easy to pick up. The FBI went to Wales to pick up an hacker last year.
If C.I.A is not in cash plus, how would the so called ‘PONZI’ Scheme affects him. Did you lose your money? It should not be the case, because C+ is alive and well and its a good time to get your money out. Other wise tell me why you want to get Mr Hill because of his ‘ponsi’ scheme. There must be some conflict of interest and your business is affected by C+ operations.
Why do you want to get him? If I set up a scheme like wire would you come and get me too? I cant see anywhere in the books to say PONZI is illegal is it? Show me where to find it then.
Dreamscape said,
November 26, 2007 at 4:08 pm
You ever wonder if the person who post for U.S. and CIA is the same person? They are sooo negative, and thoughts partner are basically along the same line…
U.S. said,
November 26, 2007 at 8:25 pm
Dreamscape….dream on buddie. I have never lost any money nor have anything to do with Cash Plus (directly or indirectly). I am simply a realist and don’t want other people to be conned by those that pump the hype and get people to “invest” in these schemes and get hurt. All of these schemes require other to be recruited (usually with something about being “special” since you need to know someone such as for an invite, etc. it is that exclusivity that drive the frenzy that you will be left out of it). The whole things is screams scam…… I hope all the fraud is investigated before more people get hurt.
Apple said,
November 26, 2007 at 9:22 pm
Hi Rohan,
Just to let you know that it is not only cash plus, olint is also facing the same from the banks.There may be others I am not sure right now. I must share that I am a member of cash plus and I do not plan to run, I believe this too shall pass.
Apple said,
November 26, 2007 at 9:27 pm
Is this person CIA real or just bored and use this medium to pass time. Your information seem fictions. Please to get your facts right.
Carl said,
November 26, 2007 at 10:17 pm
This person has no shame. I was away for nearly a week and I am surprised to return here and see that he is still here. He certainly has not one productive thing to do with his time. It must give him a lift , just thinking about this blog. Rohan did you know that the So called CIA and that other person is one and the same?
Aziza said,
November 27, 2007 at 1:01 am
I have read this thread from start to finish and I agree with the notion that U.S. and C.I.A. are one in the same. I also think that for someone who is a “millionare” or a member of the “C.I.A” they surely do spend a lot of time constantly posting on a little known message board to a group of people that are obviously not interested in anything they have to say. Go figure.
Rohan said,
November 27, 2007 at 1:21 pm
I started to analyse their arguments looking for symmetry. But I was busy for the last couple of days. I have not come to any conclusion as yet. I was waiting for more comments.
pretender said,
November 27, 2007 at 9:06 pm
hey guys,
As of january 1 2008, all cash plus account holder will be paying tax (25%).
Janice said,
November 28, 2007 at 10:41 am
Anybody out there receieved the funds for the Higgins Group since November
sixto22001 said,
November 28, 2007 at 12:13 pm
Hi Guys, pretty interesting blog. One thing i think we should do is ignore the negative people who post messages here. Without us paying them attention they will have nothing to do. On a positive side, can any one tell me if i can still get into Olint, I’m in jamaica. Also apart from cash plus, which other investment club is the best to join. I’ve been in CP for over two years and i have no problems until since of late when this bank issue started. Therefore even the blind will see that these peopel trying to bring cash plus dow. BNS made 7.6 billion and NCB 6.6 billion i think. The point is, they have not shared any of that profit with and what they made is still not enough for them. Lets stay positive, help each other and ensure things go well.
Rohan said,
November 28, 2007 at 1:36 pm
I have watched the video and this excites me. I suggest you all enjoy some of cash plus services and facilities including vacations. If you spend your money with cash plus business, we will reap the bennifits. I urge you to spend with C+ so they keep going. What goes around comes back around. In other words, spend some of your earning with cash plus and you will keep them afloat.
http://www.youtube.com/watch?v=QYIqMIaCH_w
The guys posted the videos of the meeting held on the weekend. Nuff news.
United States Dude said,
November 28, 2007 at 7:22 pm
Great video Rohan, it just confirms for me what a scam it is. Investments should not be a religion and this guy is about as trustworthy as Farakkan….. What a joke. Whoever invests with this group deserves what they get. Do the smart thing, open up an INGdirect savings account instead…..
Rohan said,
November 28, 2007 at 7:38 pm
Bwoy US dude no stop change him name. There are other similar to cash plus in the UK like my motor car rescue firm, but I get get in that because they take hundreds of £££. Those bigger than me. I can take the risk with CP. Will make enough money to pay my university fee with INGdirect? My fees are £10,000 a year plus living cost, you lucky. I am in my final year right now and I went through UNI with CP money. So I can say is did well for me.
Any business can go busted, did you know NCB got busted and was taken over by FINSAC? And Mr. Chin buy it out.
Jcan said,
November 28, 2007 at 8:17 pm
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Rohan said,
November 29, 2007 at 1:48 pm
Well said my friend. Thats what I want to hear. Bring it on. For me alternative investments mean progress. I am not gonna stop working. But AIs will help me to meet my short and long term goals. People here thinks no one want to work any more because of HYIs, but they are wrong….
sixto22001 said,
November 29, 2007 at 2:36 pm
Rohan i heard today that that i can’t get into olint from ja any more because of the a court injuction. I’m therefore thinking of putting some money in worldwise. In light of the present strain on the investment companys here at the moment do you think this would be a good idea? I’m already getting good returns from cash plus which i then invest in mutual funds but i still have money idle in the banks which i think should be working. Is world wise a good investment option?
enelra said,
November 29, 2007 at 8:08 pm
I’m askin anyone out there who has a link to the higgins ppl to send me an email & let me no at arydunn@yahoo.com. I’ve not got my interest for Novmber & don’t know who to talk to. Someone told me that they were experiencing the same problem and drove down to their office in Mo-bay where they got a cheque is there any truth to this and where exactly is the office in Mo-Bay.
Please I’m concerned
Nathaniel said,
November 30, 2007 at 2:42 am
Hi people,
I live in the UK and just came back from New York where my Auntie told me about Higgins and Warner, can anyone point me in the right direction to sign up and also do i need a Jamaican bank account to do this or is my UK bank account sufficent?
Please Email me and let me know.
sherona27 said,
November 30, 2007 at 3:08 pm
I invested some money in worldwise for the past 2 months and i receive my interest every month on the 30th without fail. U can check you account online and if u allow ur principal to roll over u can double ur money in 6months. Worldwise has a minimum investment of US$300. U earn 6% on 300 -1499 and 12% from US$1500 upwards.
Patricia said,
November 30, 2007 at 10:43 pm
Sherona, so you got your interest on time for November?
Rohan_GB said,
December 2, 2007 at 10:29 am
.Sixt: your not new to this since you are in C+ already.Why not? and remember just put a foot in the new one and see how it goes. What some people do not know in Jamaica that the Internet is borderless. Meaning you can trade in any part of this world using the net. So will the gov take a trading company in Europe if you go online and buy shares? What they going to say; you cannot buy from them because they have no licence.
People who want to get in thinvestments firms must get a referal. Soon people will be emailing you. As they get referal fees. In the meantime read this article and give your opinion.
High-risk investors have no legal backing
http://www.jamaica-gleaner.com/gleaner/20071202/lead/lead2.html
Rohan_GB said,
December 2, 2007 at 10:34 am
It would be nice to have your country or city of residence prefix at the end of your name.
For people in the UK city bank can set up an ofshore account for you. Min US$ 2500 balance must maintain in your acc per month. I will look for the guy direct line and you give me your email so I can pass it on. I know they do it in 3 curriencies US EU and Sterling.
Apple said,
December 2, 2007 at 5:57 pm
Is swiss cash back?
Jamdowner said,
December 2, 2007 at 9:39 pm
La Nacion article translated from Spanish. Makes interesting reading.
http://translate.google.com/translate?hl=en&sl=es&u=http://www.lanacion.com.ar/herramientas/SoloTexto/Nota.asp%3Fnota_id%3D965307&sa=X&oi=translate&resnum=9&ct=result&prev=/search%3Fq%3DEmile%2BMaxim%2BSt.%2BPatrick%2BHiggins%26start%3D20%26hl%3Den%26rlz%3D1T4GFRC_enJM203JM204%26sa%3DN
debbie s said,
December 2, 2007 at 9:43 pm
hi my name is debbie an di live in new york and i am trying to get information on how to joint can some one pleassss tell me how to join i would really appreciate it thanks
debbie s said,
December 2, 2007 at 9:44 pm
oh my email is shimhue28@hotmail.com
Sixto22001_Ja said,
December 2, 2007 at 9:47 pm
Hi there bloggers
Rohan i saw that article and thought it was typical of alot of the negative ones i saw. First of all, once there is signed a contract between two parties then an agreement has been reached and where there is an agreement then there is always grounds for legal backing should the need arise. High risk investors understands that there monies are indeed at high risk before there invest what ever monies they do. The thing to note is that everyone suddenly want to regulate all the investment clubs even when it’s not applicable. Clubs like Olint and World wise deal in Forex trading as for as i know. The forex industry is an approximate 2 trillion us dollar a day business which has never been regulated any where in the world before.
As for other clubs like cash +, they don’t fall under the regular scope of businesses that need regulating. What there people are not telling the public is that when a company is regulated it doesn’t mean that their monies are safe.
The ( JDIC) which is responsible for insuring monies place in banks credit unions and building societies will only insure a sum up to 600,000 Jamaican dollars. To add further to that they only cover savings accounts, chequing accounts time deposits and certificate of deposites.
Interestingly, there don’t cover commercial papers, insurance products, stocks and bonds, debentures/loans, mutual fund/unit trust, certificate of participations and repos.
In my humble opinion should any one decide to make some serious money and put it in a commercial bank then they may end up feeling worst than someone who has their money in a high risk investment. This is so because not only will you not be getting a high interest on your money but in some areas you will be at risk just the same.
These people are calling most of the investment clubs unregulated and sometimes reffer to them ass illegal. There are warning everyone not to invest in the clubs and on another side they are trying to see how much tax they can collect. This is just wrong.
Most of the people involve in these clubs sometimes don’t know all they should and i that is what i think the regulators need to focus on instead of trying to break up the clubs. Not because a company is publishing quarterly statement means they are truthful which is what a lot of people don,t realize.
I sat for a hour and a half yesterday and listen to Mr. Carlos Hill speak and i most be honest, he never told me all i wanted to hear but he told me enough to let me feel comfortable to stay in cash plus. Nothing in life is certain, i’m there willing to continue on the path i’ve been taking for the last year. Where i’m wrong about any of the aforementioned can someone kindly educate me,
Much said
sherona27 said,
December 3, 2007 at 8:43 am
Patricia,
Yes i did. I received my interest November 30th
yuteliink said,
December 3, 2007 at 12:07 pm
Can any one provide me with a referral for May Daisy? My email is crazy_hypejm@yahoo.com
sixto22001 said,
December 3, 2007 at 1:34 pm
I can provide referral for anyone who want to join Cash
+
Rohan_GB said,
December 3, 2007 at 2:23 pm
I remember in the 90s when workers jobs were being made redundant and when they got the pay off all they did was to purchase a car to opperate taxis. These were illegal taxis and the government refuse to legalize these robots as they were affectionately called. These robots did well for commuters because there was no proper bus system in place and people want to get to and from their busisness and work. People from every nook and cranny could rely on the transport to take them home, even in deep rural Jamaica you could get a taxi. After a fight from the agencies and bigger players in the business they manage to however regulate the route taxis.
Investment schemes are doing well for Jamaica and Jamaicans. The problem is that the information get out in the public domaim and every body is getting involve. Growing up in Jamaica, I know for a fact that some people hold back information from other people fearing that they might know and become better off or enjoying life like them. You call them people deh bad mind
According to the government these schemes do not need to regulate if the members are under 100. As far as I am concerned they did not have anything in place for these HYI schemes. These schemes can opperate out ouf Jamaica using the Internet. But there would be a barier, that is not every one have access to the Net and have a credit card or a visa/master card debit card which they could use on line. I bet the banks are trading forex and customers do not know about it.Thats why they are getting worried now because some radicals open up the market to normal working class people. A lot are scared that the working class is gonna move up to middle class and share the wealth, people wont be working for them any more, dining out at fancy resturant beside the rich is not so welcome by them the rich. The normal people are being empowered now and they dont like it. There are so many millionaires here in the UK and no one is worried, the government want people to improve their life and living conditions. Can you believe in rural Jamaica some communities do not have proper running water, people still living in mud and bamboo thatch house? There is alot to say trust mi. And I am pissed off with the system. Well at least there will be a reduction in extortion in Jamaica.
Next Why do they regulate……
Maverick said,
December 3, 2007 at 3:29 pm
Hi There,
I am interested in putting some money into Higgins And Warner. Can someone reffer me please.
My email address is babyface_boydi@yahoo.com
Thanks in advance.
Maverick said,
December 3, 2007 at 4:23 pm
I’m in Jamaica
mally said,
December 3, 2007 at 4:49 pm
I know some people will say that I am negative. Be careful of Higgins Warner they are having problems paying !!! I am now owed three payments. I was one that came on and said that the others who tried to warn were negative and did not want us to make money !!! this is a severe case of HARD EARS PICKNIE DED A SUNHOT !!! New investors be careful and watch ,before investing !!!! Cash plus might be a little late, but Higgins Warner stopped paying me !!!and I have felt the burn. This man use to take calls, now he is in hiding.Have a feeling he is ready to run !!!
G_Nice said,
December 3, 2007 at 4:53 pm
Sixto22001, I really like the points you make. In particular that notion that sharing financial records ensure a company is trust worthy. Cash Plus is not public organization and the best someone could hope to receive is an audited statement.
I have been involve in a couple investments with private firms and unless the amount being borrow really requires things company’s are not going to go through this step, it’s just to costly and time consuming.
Regulatory requirement like SOX are good for the investors, however they also have a negative effect as they create a lot of overhead and can slow down the pace of innovation.
I’m a risk taker. I use to go to school on a country bus with 2/3rd of my body hanging out a door. We sometime asking that the work “risk” is bad. It’s the final outcome however that determines whether this is true or not. Those that took a risk in the late 90’s real estate market are not complaining
Maverick said,
December 4, 2007 at 8:41 am
Anyone out there can give me some strong information on Higgins Warner. Wheather you are not receiving your payments or if you have received yours up to last month. I want to know what im about to go into before i do so.
Analyzer said,
December 4, 2007 at 9:44 am
First off, I would just like to say that I am not U.S. posting under a different name. However, I happen to agree with him and many of his points. I have been following these “investment clubs” from when OLINT first hit the scenes a few years back and have always held the opinion that they are ponzi schemes where new money is used to pay off the old investors and rely on the promise of “high returns” to keep the new money pouring in. I am a Jamaican living in New York and have been working in the investment world for the past 10 years.
A few facts:
Fact: Between 2001 and 2006 the U.S. Commodity Futures Trading Commission has prosecuted more than 80 cases involving the defrauding of more than 23,000 customers who lost $300 million, mostly in managed accounts involved in FX trading.
Fact: Not one of these “schemes” (OLINT, Cash Plus, Higgind Warner, and the countless others) have shown an audited financial statement (signed off by a reputable accounting firm) confirming the assets they have and the returns they “supposedly” have been delivering. That should be any investor’s absolute first priority in validating an investment strategy. Anybody can say they do something, and just because many other people buy into it does not make it true. There only reason that these schemes would refuse to offer audited financials is if they have something to hide. Plain and simple.
Fact: No legitimate investment vehicle (whether it be a mutual fund, hedge fund, or any other type of structure) that is still in existence today has ever consistently generated 10% monthly returns without any losing months. There are certain private equity funds and hedge funds that deliver fairly high returns (although not that high), but come in very lumpy patterns over a long time frame (many years) as their investments materialize. The best hedge fund in the world called Medallion Fund run by Renaissance Technologies (which manages only their own money) which has a team of 150 scientists and PhDs cannot achieve those types of returns (they manage 38% net returns annually and have occasional losing months). See website for details (http://en.wikipedia.org/wiki/Renaissance_Technologies).
I am sure there are people out there who have and will make money from these ponzi schemes. But that is the definition of how they work. They rely on the success of the early investors to spread a “buzz” about fabulous returns which continues to bring in fresh money to pay the monthly interest payments. This all continues until (for whatever reason) a large amount of these investors decide at the same time that they want their money back. At that point, the scheme does not have nearly enough money to cover what they owe their investors and the whole thing comes tumbling down. And the people that got in last will be the ones that really lose the most. That is why these schemes are so concerned with keeping new money coming in. They offer referral fees, they spread fluff media about foundations and other unrelated businesses to give them an appearance of legitimacy. Even the whole method by which you have to be referred to get signed up is a marketing tactic to make it seem like you are being granted entrance to exclusive investment world that only a lucky few get to participate.
Then there is the whole argument that the commercial banks are “out to get the little guy” and make huge sums of money while they offer nothing in return. We live in a competitive world where outsized returns are hard to come by and if Jamaican banks were making such money, then you would see every banking chain in the world opening up offices in Jamaica. Also, these people can simply buy shares in BNS or NCB (and thus share in the profits) as they are both publicly listed companies. However, I think they will find that it is not all profit and fun as the share price of NCB is actually down slightly for this year.
You will also hear stories about John Doe who lost his job and that if it wasn’t for whichever scheme that he would not be able to keep his children in school or feed his family. And that anyone who opposes these schemes are against the poor. This is complete nonsense because once these schemes come down, it will be these very people who are hurt the most. Sure, there might be a handful that have managed to get out more than they put in, but there will be far more John Does who end up losing all of the hard-earned money.
I could go on and on with many points on why people should not invest in these schemes, but no matter what I say, people will (and have a right) to do what they want. I am simply offering my input as someone who looks at investments for a living. I wish everyone the best of luck and lots of success.
Annt said,
December 4, 2007 at 2:19 pm
People are still getting their interest from Higgins Warner. The amounts are being paid way late but payments are being made. If you visit their office in Mobay, you will get a cheque and this will avoid the waiting time.
If the man plan to run, he has not run off yet.
Sixto22001_Ja said,
December 4, 2007 at 2:47 pm
Good day blogger
Throughout the life of the human being they have always fear the unknown. Millions of years has pass and many things has change but this aspect of the human instinct remain the same.
I have read all your comments and one thing i can tell you all is like it are not persons form cash plus has been getting their interest. The bankers association fear what they don’t know. All of a sudden every one wants to know what Carlos “Marcus Garvey” Hill owns. Just a little more my friends and you will all hear how this icon made his money and how many companies he also own.
The skeptic can continue to be doubtful but this is what happen when globalization start taking control. The banks are crying because they cant compete and the private sector is crying out aloud because they want to continue enslaving and brain washing the average man.
People, the world is changing and who cant compete will just have to get phase out. Mark my words, Cash plus and Olint not going any where anytime soon so you all better get use to it.
Best wishes to all you haters. We will prevail like it or not
Rohan_GB said,
December 4, 2007 at 3:47 pm
If I make back my principal already, what is there to lose? I hear you but I certainly wont come crying to you.
I believe the banks have been using our money to do Forex trading long time ago. And dont mix up illegal with regulation. If these companies were operating illegal the govenrments would kick them out long time ago.
ky said,
December 5, 2007 at 11:13 am
This blog is great .. just something else … thanx for all the info guys
To Maverick ..
like everyone else higgins warner is having problems with the banks, but they are still paying, i collected my cheque for november from the office but so far this month i have already received payment for one of my investment via my account. So they r still paying but for persons just joining up it may be a little unsettling when u dont get ur funds on time so u might want to just hold off a little until they have cleared their back log. Sounds like they may have everything up to date in another couple of weeks.
Once again … does anyone have any info on may daisy?
Annett said,
December 5, 2007 at 11:20 am
Hi guys i have been reading your blogs and find it very interesting. I am in Canada. Do they have any connections here. Please let me know
Wendell said,
December 5, 2007 at 11:25 am
Deborah Manning said,
November 3, 2007 at 3:17 am
I always wonder how it is that educated people can be so motivated by greed. You do the math. Invest 100,000 at 20% per month over 5 years. Thats over 32 million dollars. This company would not only make me into a millionare in 5 years but I could comfortably retire. Why then is it that people who REALLY have money aren’t beating down the company’s doors to get these returns when in fact so many people know about it through their viral marketing? Because its just a mathematical impossibility. What could you possibly be investing in to pay me 240% per year and still retain a profit for yourself? I think when it comes crashing down the sound will be greater than the world trade centre…only this time it is really YOUR money that will really burn!
Debbie,
Your Math is wrong. 100,000 for five years at 20% per month will yield over
5,634,751,435 ( 5.6 Billion dollars) WOW THATS CRAZY.
patrick said,
December 5, 2007 at 11:58 am
wow thats crazy Ms Manning, use a calculator next time, lol
Maverick said,
December 5, 2007 at 1:01 pm
Thanks KY. That information is very useful to me in making my decisions. I will definatlely hold off for some more time and see how things work out. However I would like to know how do they pay out? Do they wire your mthly pymnt to a bank account of your choice? or do they write a check at all times? You said you did received a check, did the banks give you any problems in cashing that check or do you have to lodge it? are they accepting HW checks without any issues?
Please let me know.
Wendell said,
December 5, 2007 at 3:49 pm
The only difference beween investment schemes and bank as it relates to deposits is that in banks depositors are insured up to a limit on their investments. The banks take MY new deposit and pay YOUR old interest the same way investment scheme does. however, Investment schemes pay much higher interest to compensate investors for the high risk they take of having no assurance that they’ll get paid. In the stock market there is always the possibility that your securities could go belly-up, heck! I lost thousands in Enron a couple years ago. That’s the risk you take when you expect high returns. So if you are very risk tolerant go EARN or LOSE your money as you see fit BUT give yourself all the CREDIT if you gain and all the BLAME if you lose.
AR said,
December 6, 2007 at 12:07 am
Guys sorry to say but, think about it , if i were a business owner and i could give those kinds of returns , definately thinking like a business owner i would want to make a profit after the initial investment was paid back to the investor, therefore i would say the deal is 10% per month untill the investment is paid out the 5% thereafter. Thats how i’d make a profit. 10 % cant be paid out forever. who will get caught not recieving their piece of the pie.
there u see, SCAM written all over this, funny how greed can fool ppl into believing they can get rich quick. I can see that ppl who make sences here are the one’s who didn’t invest. Good luck to you all.
http://jamaicaobserver.com/news/html/20071204T220000-0500_130057_OBS_THE_TRIALS_AND_CONVICTIONS_OF_CARLOS_HILL.asp
AR said,
December 6, 2007 at 12:33 am
Dont forget about tax time —lol
This is a public notice from the Tax Administration of Jamaica Published in the Arts section of the Sunday Gleaner dated: November 11, 2007.
Under section 5(1) subsection (b) of the Income Tax Act, ANNUAL SUMS earned. including interest, are subject to income tax. The public is advised that income tax is due on any interest earned from monies placed in investment schemes of any kind.
It should be noted that persons resident in Jamaica are liable to tax on profits or gains (including interest) accruing in or derived from the island or overseas, whether received in the island or not. Similarly persons not resident in Jamaica are liable to tax on income arising in Jamaica.
Persons who earn interest from investments, whether the interest is paid or credited to them, are therefore reminded to file annual income returns on or before March 15th, disclosing ALL income earned (including interest) and to pay the taxes due. Failure to comply will result in interest and penalties being applied.
This is a statement of the law. Its is NOT an endorsement by the Tax Administration or the Government of Jamaica of any investment scheme which is not licensed or registered by the Financial Services Commission.
Spartan said,
December 6, 2007 at 12:12 pm
yes my people. . .Cash Plus. . .. .the time has come to pay the piper. . London Bridge came falling down and they made a nursery rhyme out of it. . .who knows what the future holds. . .definately some short term coverage maybe a book or few. . .I am pretty sure some current musical artisits will make a ballad or few about what is going to happen . . .and make no mistake something is going to happen. . .u thought jamaica was violent before. . .wait till people find out that Carlos Hill is probably MIA. ..and that is not short for Miami International Airport . .even though he probably stopped there en route to some far off country. .
.When u steal people’s money. . .jamaican peoples’ money . .gun shot usually start to fire. . .Bloggers alike I invite you to type into your google browser ‘Albania Ponzi scheme” and then “MMM russia Ponzi.” This will make for some good FACTUAL reading. This is REAL, Carlos Hill is going to try and tell you that the banks are the one’s responsible for all the ruption and they are the ones to blame for losing money (which will happen). . Thats what the criminals (like Carlos Hill) did in Russia and also in Albania. He will do the same. . .but I just hope . .i just hope . . Mr. Hill, that you understand that this is not New Jersey, you don’t rob people, especially jamaican people, and just go to a Medium Security Correctional facility and serve your time . . .eating cold waffles and drinking apple juice and think its all fine. . .This is Jamaica Mr. Hill, and if you forgot, we clap people over here.. . . FOR NOTHING.. . . dont give us a reason to give you a “Standing Ovation” and by that I mean a barrage of “claps.” Ahh well . . .my duty here is done. . .and for bloggers all over . . .and whoever has money in Cash Plus. . .it is time for justice. .and that my friend comes in many different forms. . especeially in Jamaica. . .the land of Wood and Water!
GQ said,
December 6, 2007 at 12:42 pm
Just something I found…
http://latimesblogs.latimes.com/laplaza/2007/11/disney-no-park-.html
« Falling bodies and stunning upsets: Election day in Guatemala | Main | Introducing ‘Vlad,’ the would-be Brazilian Dracula? »
Disney: No park planned in Latin America
The entertainment giant took the unusual step of placing a paid advertisement Tuesday in Argentine newspapers to deny reports that a new Disney facility was to be built here. The ad said Walt Disney Co. “is not considering at the moment the implementation of any theme park project in the Argentine Republic or in any other country in Latin America,” noted a story about the flap on the website of the newspaper Infobae.
Last month, La Nación wrote about the swirling rumors in an account under the headline “Disney, an ephemeral Argentine dream.”
Disney said in its ad that it was initiating “legal actions” against Emile Maxim St. Patrick Higgins, who it said was responsible for spreading reports about a prospective new “Walt Disney Mundo.” La Nación identified Higgins as an “eccentric Jamaican impresario” who heads a firm called Higgins Warner Corp. The newspaper quoted a local official as saying that three helicopters recently transported Higgins and apparent associates from the United States and the United Arab Emirates to meet with the mayor of San Pedro, where the park was supposedly to be built at a cost of $1 billion.
On Tuesday, Disney declared that Higgins had no “no relation” to it. It also expressed regrets that the actions could “damage the good faith of public opinion, generating false expectations.” An e-mail sent to the Argentine firm associated with Higgins elicited a response that “Walt Disney Mundo … has nothing to do with Walt Disney World of the U.S.”
Posted by Patrick J. McDonnell and Andrés D’Alessandro in Buenos Aires
Maverick said,
December 6, 2007 at 12:56 pm
Here is something that is posted on the HW website.
http://waltdisneymundosa.com/
In light of the public events, we inform the media
and general public that Walt Disney Mundo SA, Inc
has never stated that we have any relationship with
the other Walt Disney, Inc. We cannot be held
responsible for any inaccurate or wrong material that
is spread in the media based on misleading or
dubious sources and lack of rigorous research and
fact-checking.
MAX HIGGINS.-
President of Walt Disney Mundo SA, Inc
He said that he never stated that he was affiliated to Walt Disney USA
Rohan_GB said,
December 6, 2007 at 1:47 pm
All Stale News.
You guys come with some thing new. Tell me some thing I do not know about.
Rohan_GB said,
December 6, 2007 at 1:51 pm
HE should have never use the name Walt Disney because its copy rite. Using the name is misleading.
U...S... said,
December 6, 2007 at 8:21 pm
Gee Rohan, ya think? Of course he should not use Walt Disney’s name. That video was very funny and such a ridiculous attempt at fraud. My goodness how can anyone give this con money? What a scam. Did you read the response too…. hilarious.
TB said,
December 6, 2007 at 8:22 pm
http://www.minvestment.com/?r=jettt. This is my referral link.Take a look and Give it a try.
ky said,
December 7, 2007 at 10:00 am
maverick, yes they wire it to a bank of your choice. When you sign the contract you indicate your account info, whether jamaica or abroad. I had no problem with my cheque i simply deposited it in my account and it cleared in about 3 days. But they told me i could have cashed it at the bank on which it was issued.
sixto22001_JA said,
December 7, 2007 at 12:15 pm
GB, U.S/CIA/U.S DUDE and Spartan. I want to ask these indiviuals to clearly define their purpose and reasons for coming on this blog. The purpose of this blog is to help everyone get a clear and balance understanding of whats going on in the investment world, so their can make better business decisions.
I understand the importance of pointing someone to the correct deriction and the need to clearly out line the negatives of every situation. What i dont understand is the purpose you guys serves.
Viewing your inserts has remind me clearly of the CRAB INNA BARREL situation that exist among many people who are tryin to make a better way of life. Folks, your attitude potray what we call in Jamaica “BAD MIND”.
In other words, you are all attempting to pull down productive or persons who are attempting to be productive.
This is the same level of Bad mind that exist among many people who have become millionaires by various means and have start to BURN BAD LAMP for others trying to do the same, solely because they dont want any one else to have a taste of the Good life.
I have news for you, from the dust we came and to the dust we’ll all return when Mr. Death comes. And on that given day what will they be taking to the dust with them, not a earthly thing.
My point in this,i have not seen where any of you guys are saying or doing anything to help people in general, but you seems all to be rejoicing in a hollow victory. Carlos “Marcus Garvey” Hill is no saint, neither is G.Bush, B. Golding. F. Castro, but does that means that these guys don’t know what they are doing? I think not.
As a memeber of C+ I find it very important in bring all the information about Mr. Hill to the public eyes. If he have done wrongs in the pass so be it, but he should also understand that we are willing to give him a second chance to do what is right, hence i think keeping him in the public eye is good.
U.S who is a self proclaim Millionaire with many degrees seems to take everyone for a fool. If you are not just another BAD MIND LOW LIFE, i challenge you to stop wasting time being negative and give back some of what you have gain and what i’m sure others would have help you gain. No one want your free hand outs but if you’re not a fake i challenge you to give these people some productive alternatives to what they are doing.
You can’t come on this blog telling everyone all these negative and expect anyone to listen unless you can provide sound alternative. Many persons here have been in these clubs for a while and have made alot of money and have never had any problems until these detrators started to make trouble.
I dont find it funny that you guys have sort to rejoice over some recent events, this is serious business. The Jamaica PM made a carefully construsted statement regarding these clubs yesterday. As he put it, “these business are not illegal, hence the goverment will have to wait on the courts before making certain descision”.
We are now living in one global community and you all have to understand that not because something has never been done before doesn’t make it illegal or bad. Lets here from you ( U.S/CIA/ US DUE and company)
Spartan said,
December 7, 2007 at 12:47 pm
my friend,
sixto22001_JA , How are you. . .I am going to take a wild guess. . .You probably still think that cash + is a ‘viable business’ . . and if I’m right with that guess . .I would like to make another guess. .You probably think that on December 25th a fat man dressed in a red jump suit is gonna be hauled from the north pole by a bunch of reindeers all over the world dropping off gifts. . Santa!! . . .’FAT CHANCE”
Well listen my purpose in this forum my friend is not to give people any alternative advice in regards to investing. .you weigh the risks and possible gain and make your own decisions. My purpose is simply to state this. . .Albania in 1997 went through a ‘quasi’ civil war as a result of a SCAM JUST LIKE CASH PLUS. In Russia close to 50 people comitted suicide because of a SCAM LIKE CASH PLUS. .I am here to warn readers about the strong possibility of danger. .people taking the law into their hands. . .this is Christmans time . .aka the season of the consumer. .more money is spent by the consumer during this month alone than the first half of the year. You dont think we are gonna have angry people if they cant get their Christmas money? Or better yet. .they’re LIFE SAVINGS! Stop hoping that cash plus is real. . its not. . start planning on how ur gonna recover. .they might still have some money to return to a couple investors , , make sure you’re one of the few. .
Siging off
SPARTAN
Spartan said,
December 7, 2007 at 1:02 pm
And . . .Carlos “Marcus Garvey”| Hill. . .is about as a big as a joke comparing saddam hussein to Martin Luther King. ..just ridiculous. .ludacris . . unthinkable. . just plain wrong
Rohan_GB said,
December 7, 2007 at 2:26 pm
Cash Plus have then guessing. Sixto, alot of investment firms are out there, dont let these guy put you off. What they are afraid is that there will be too much millionaires in Jamaica. Currently there are only 7 or 8 out of 3 million Jamaicans. I have seen so many millionaire in London alone and they look so nomal you dont even know they are.
As youmentioned there are a lot of badminded Jamaican out there and there are some on this page with US/CIA spliting personality is one of them.
My money is in Cash Plus and I an heading for more HYI and traditional investments. What they gonna do about it. I know that they have financial interest out there that are affected by the new schemes.
They still want to keep us down there at the buttom of the social ladder at all time. They know we are gonna buy a house beside them and they do not want it so. The PM acknoweledge that the schemes are not illegal however, they are not regulate. How can the banks declare Cash Plus illegal? Isn’t that the job of the government? Too much monopoly in Jamaica in a time like this. We still have 1 or 2(flow) landline phone company in the Government must allow interconnection of landlines to home and businesses so that we have much more choices. There is not much bank to chose from, one theatre company running all the cinema in Jamaica. There is no competition and Jamaica has made it difficult to access funds for new developments. Thats what USAID reoprted last year. I dont have the report at hand so I will leave it here. The New Internet Age make almost anything possible. We gonna invest accross border an dem a fret.
U....S..... said,
December 7, 2007 at 6:23 pm
sixto22001_JA said —- I don’t understand the mentality that I would want to “keep you down”. Why the heck would I care if half Jamaica were millionaires? If anything, I would prefer that. I simply am putting out the warning on the scams and the REAL human suffering that will result by perpetuating it. The alternative is this, go out and start your own business, be an entrepreneur. If you don’t have enough money right now then work hard, save up and start a business later. And I repeat, shame on those that perpetuate these schemes and draw others into them. Shame.
Jcan said,
December 7, 2007 at 8:38 pm
There are indeed some persons on this blogg that are not on the planet earth, and not really concern about the real poor Jamcans….The working poor cannot get anything to borrow and cannot work any order!!!!!!!!!!!!!24 hours daily at minimum wage cannot pay transportation much more to scrape to get into investment….lemonade/snowcone man are not cutting it anymore…Pray, where are they going to get this capital to invest?
CP lenders and the bank depositors….if cp is given a chance to sort themselves out, with some quick help from fx trading say in Jany to march 08..CP lenders will be way ahead of the bank depositors.
Why all this energy on investors…as was mentioned before, this is a time of giving…The working poor, the very poor and the helpless poor need all your help. Please, use all that venomous energy to do something good.
U...S...Truth... said,
December 7, 2007 at 11:54 pm
The “Walt Disney” Mundo official press release below if hilarious…….Wall Street doesn’t turn down money from “dirty rag head arabs” nor does Higgins have $1 Billion in backing from anyone. Wake up, what a joke…and so is the video. Invest in non-scams and you won’t get burned.
———————————-
Official Press Release
The leadership of The Walt Disney Company of Orlando, Florida, United States which consist of John E. Pepper, Jr, Chairman of the Board and Robert A. Iger, President, made it clear to Max Higgins that Walt Disney USA will never support Max Higgins building a prototype of Walt Disney in Argentina due to the fact Max Higgins is having the support of $1 Billion US dollars from the dirty rag head Arabs including the Chairman of kingdom Holding HRH Prince Alwaleed Bin Talal who is to be blamed for the massive amount of corruptions with Euro Walt Disney. Only upon Max Higgins accepting only Wall Street Investors will Walt Disney USA support Walt Disney Mundo SA, Inc being built in San Pedro, Argentina.
Based on the serious discrimination against the Arab World from the leadership of Walt Disney Company of Orlando, Florida, in the United States. The other Walt Disney Mundo SA, Inc wants the Arab World to know that we do not in any way shape or form support the most serious on going discrimination against Arab Investors by The Walt Disney Company and I Max Higgins welcomes all Arab Investors to come and Invest with Walt Disney Mundo SA, Inc being built in San Pedro, Argentina which is managed by the Higgins Warner Group headquartered in Buenos Aires, Argentina
Sign
Emile Maxim St. Patrick Higgins
President Walt Disney Mundo SA, Inc.
San Pedro, Argentina
http://www.waltdisneymundosa.com | http://www.higginswarner.com
admin@higginswarner.com
U.S... said,
December 8, 2007 at 10:28 am
Based on the Higgins website, I must say that Higgins guy must have some sort of delusional mental problem. His website and little poses in his photos are too funny and ridiculous to take seriously. Fly in a helicopter, have a few ladies in tow, and point at empty fields you don’t own with cheap graphics of some tram that circles around a make believe Walt Disney Mundo and claim that non-existent Arabs are giving you $1B and claim the the US is discriminating against you and Arabs in order to get people riled up. Please the whole thing is silly. Greed must blind people. Good luck IT IS A SCAM. And no, banks aren’t conspiring against him either….banks aren’t going to give you cash on a suspect check until it clears, that is standard bank policies all over the world. I can tell you this, there will be violence in Jamaica when the Higgins wall comes tumbling down and his scam is exposed…and many people will get hurt. The blood will be on the hands of those that recruited others to join in these investments.
Rohan_GB said,
December 8, 2007 at 3:12 pm
USS and others, OK we get your points now you can move on to run your business. We have already decide. Nobody is gonna take you serious because of you bragging about you 10 degree and billion fortune. How do you fine time to come on here? You must have a lot to do.
look how many of the institutions are own by the white supremacy mixed race or Chinese,and people like you keep them stronger. If you dont high brown complexion in Jamaica no one will lend you money to start up big idea business.
TB said,
December 9, 2007 at 7:35 am
I have gone 120days and have thirty days left I withdraw my interest almost every day and they are effecient when it comes to that. This is my referral link for those interested. http://www.minvestment.com/?r=jettt.
CHECK IT OUT!
tmb said,
December 9, 2007 at 3:44 pm
Hi. I’m looking for someone that can give me a May Davis referral. My email is triciamaeb@yahoo.com. I want to start for Jan 2008 and have been unable to find a present member. If anyone can asssist I’d really appreciate it!!
Jcan said,
December 9, 2007 at 6:18 pm
For Information Only:
What is this thing called Forex?
*** Bank and Governments have used it for themselves
*** Entry of the individual investors—making big profits
We know about the real world of money and how today it’s nothing more than the paper it’s printed on. You also read that although it’s worth something in the country of issue, it’s worth something else compared to other currencies. This is a big opportunity for making profits – the constantly changing gap between the Dollar, the Yen, the Euro and all the other currencies.
Today we’ll introduce the name of this process of investing in currencies. You may have heard the term Forex before – it’s a shortened term for Foreign Exchange Trading. Previously, we discussed how you’re already a trader because you trade your efforts for fiat currency with which to purchase goods and services. We also mentioned that the Forex market is huge, $1.5 trillion is exchanged every day five and a half days a week.
Around the world, Forex transactions make up one of the major sources of income for many central banks. The financial report of one of the largest Swiss bank Union Bank of Switzerland (UBS) showed that 80% of the profits generated in 1994 were made from currency conversion operations. Such renowned banks as Citibank, Chase Manhattan Bank, Barclays Bank, Société Générale Bank get their major income on ForEx.
Governments trade currencies as well to help balance their trade figures. Over the years, as more major currencies began to float, the currency market just kept growing. But all along, individual investors were not able to enter the market because of the large amount of funds required to participate. Only large investors having hundreds of thousands of dollars at their disposal could afford to trade on ForEx. During the early nineties that began to change as more automated electronic information became available and wealthy individuals took advantage of the opening. One legendary trading operation made by George Soros in 1992 on selling the British pound gave him 2 billion dollars of net profit in two weeks!
Up until 1996, individual investors only had access to the Forex world through the illiquid futures market and the un-tradable cash bank market. With the entry of the super-wealthy investors, the electronics and techniques for smaller entries grew. Today, with powerful home PCs and instant trading information, individuals trade currencies 24 hours a day worldwide. All this makes for a very large-scale opportunity simply because you can get in on it just like the big boys.
Something that is very unique to the currency world is the use of instant electronic information, down to every 15 seconds in real time. By using your home PC to directly place buy and sell orders, you bypass all the usual intermediaries and delays inherent in all the other markets. This instantaneous technology allows you to buy or sell currencies with equal ease—you can ‘short’ a particular currency when you see the trend is downward or ‘buy’ when you see it moving upward.
Another thing the wealthy investors brought with them was the use of leverage to compound their investments and profits. Nowadays, an individual can trade currencies with as little as $10,000 in a standard account. Even better for all of us is the idea of mini-trades that allow as little as $500 to control a two hundred times as much money for entering a currency trade.
Entering this gigantic market as an individual investor may seem daunting. The good news is that having proper training, reliable resources and a working alliance among those who are also trading and exchanging information improves not only safety of principal, but results as well.
As stated before, the growing and changing currency world of Forex has matured to the point of welcoming in individual investors. With highly leveraged funds but none of the usual downside found elsewhere to using them, you can join others from all walks of life who are successfully making money at Forex.
To find a lot more information, please visit the website at:
http://www.vrgroup.info
——————————————————
JILL said,
December 9, 2007 at 6:27 pm
Hi TB,
I need some info on minvestment. Can you email me please to discuss
millions23@gmail.com.
tn said,
December 10, 2007 at 9:39 am
Has anyone received their interest for the month of November from Higgins Warner?
soljah said,
December 10, 2007 at 1:06 pm
intresting comments site, do u have live chat room?
ensley said,
December 10, 2007 at 4:51 pm
@ 258 yes tn i got mine in my account last week
waiting on my december payout now
re said,
December 10, 2007 at 5:50 pm
Ensley, you must have a contact at Higgins Warner, I am in Florida and did not get my interest for end of October and November.Max keeps changing his stories. Last Thursday, my sister went to the Montego Bay office for my cheque and was told that someone was going on the flight to Florida the Friday morning with our interest. I sent back on Friday and was told the money was in Florida. I know now this was a lie as no one I know had there money deposited to their account. A friend of mine here in Florida emailed the company aftere not recieving her interest and got back a reply, that Max is in Dubai and he is asking us to be patient for ten more days. All I can say is patience for most people I know is running really thin!!!
U.S... said,
December 10, 2007 at 7:44 pm
re – All I can say is get your money. Maybe Max is trying to get that billion dollars he claims that will back his sham Disney World. Why would they give money to that Mickey Mouse operation … opps Max can’t use the name Mickey Mouse….hahaha. What a joke. Maybe it is be patient, Max hasn’t had time to get off the island with all of your money yet… Good luck. I hope you can get your money back.
Michael said,
December 10, 2007 at 8:57 pm
I have a payment date of the 4th of the month with HW and received the deposit today.I’m in Florida. I know it’s frustrating but try to contact Gilpin in Mobay 876-772-2374.
Carl said,
December 10, 2007 at 9:38 pm
TN : I received my Interest from HW for November . December’s interest is due sometime this week.
Sparkle said,
December 11, 2007 at 1:06 pm
TN. I also got my payment for November and one due on December 2. I am in Virginia. I think it would help if you can call them though. I really dont think they have a computerized system, I feel everything is being done manually. I still have one payment for November outstanding. I didnt get that payment for October until late November too. They kept excluding it from the list.
U S
I think everyone has gotten your point, and if what you have said is correct is correct, then I believe everyone is aware that they will lose their money. So, what if we are willing to take the risk? I think it is full time you get off this blog and find something more productive to do with your time. Go research other investment opportunities to increase your millions! Obviously, you get pleasure for nagging people.
Aziza said,
December 11, 2007 at 1:53 pm
US is a troll. Let me give you all a tip. Just ingore him….if you refuse to acknowledge his posts he will stop posting, and if he doesn’t then he’s a troll in need of psychological help (or a woman).
Spartan said,
December 11, 2007 at 3:23 pm
U.S.
I have some news for you. You are not a troll, but Im sure you already knew that, You are trying to warn people of the inevitable, (well inevitable means it will happen in the future and with Cash Plus, its poppin down as we speak) so I dont mean the inevitable but the current danger. But nobody wants to listen. .they think Higgins Warner is real, that is a SCAM destined to ruin people’s lives. . .However, not everybody, if you can get your money out , and really pull ur head out of your ass, You’ll see that the chances of this man really building a Disney World is about as good as Elvis still being alive!! This forum is great, but its just a reflection of the financial situation in Jamaica. .people really dont have any ‘good’ options. . .so I guess an alternative like this is trumped up by the lack of prosperity reflected in their alternatives. Anyway the Spartan wants to let u guys know that we have some really intelligent criminals out there. . .Higgins is not one, He is a criminal but a clown, and will only fool clowns. .please if u r not a clown leave higgins and warner and pray that You can get your money back!
The Spartan is out!
re said,
December 11, 2007 at 5:08 pm
We really should be pulling together at a time like this. I think we all mean well,but should also remember that people are hurting on his site. I heard of a lady who had to sell her car last month to pay mortgage, because her money did not come in from HW.She does not know what she is going to do this month. I think what really happen is that HW are paying out the smaller amts, so they keep the majority quiet.Things have gotten so bad for some people, that they took out loans on their houses so that they can get an income from one or more of these investment companies.Some people will say that was a foolish thing to do ,I will agree with that ,but only when we really are in situations then we can understand and so we all should not be pointing fingers,but try to encourage our brothers and sisters who made a mistake or just out of desperation made a bad choice.I for one wished I had come across this site before I invested with HW. so let us stay focus, and be open and let others learn from our accomplishments and our failures. After all this is what this site is all about. Lighten up and continue the good conversations.
Rohan_GB said,
December 11, 2007 at 8:47 pm
So C.I.A turn Spartan now. You are all troll all three of you.
U.S... said,
December 11, 2007 at 9:44 pm
Rohan – you can keep being a cheerleader as you run off a cliff. I have no problem with you except that your enthusiasm will end up harming others by bringing them into this scame. What should really be a big concern is the violence and unrest that will result. If you borrowed money on your home, lose that money in Cash Plus, what are you going to do??? And that will end up harming the legit banks in Jamaica too (just like the mortgage scams in the U.S. which is very serious) which causes others to be harmed, dries up investment and loans for others, and causes more fiscal pain in a country that I want to see prosper. Jamaica has good people, they want to make things happen, they just need to be shown the right way to put that energy and ingenuity to work. God help everyone when this all comes to light. I was in Jamaica a couple of months ago and was told about Cash Plus and what people were doing to “invest” in it and I felt so bad that people were being duped. I will feel even worse when people are in fact duped, for the innocent and even the ones that went in with eyes wide open like my friend Rohan. Oh well, I had posted what I could and hope it wakes up those who have $$$ in the eyes. If you don’t understand what you are investing in, then pass up that opportunity and invest in something you do understand. You don’t have to swing at every pitch. God Bless.
Gemini said,
December 12, 2007 at 2:09 am
Good day all. For those who may wish to know…I have received my Higgins Warner payment for Nov but it was late because of backlog/probs with our commercial banks. However for those who cant wait you may collect in their MBJ office or have someone collect on your behalf. For more info on joining Higgins Warner….ainsworth@email.com
re said,
December 12, 2007 at 5:32 am
Someone went there for me last week and was told that they have stopped giving cheques at the office . They were told that they will start depositing the cheques to our accounts on the 15th and 30th of the month.As for the people abroad, they send someone to Miami to make deposits. I am in Florida and they told her that my deposit would be made the last Friday. I am yet to see a deposit.I know the banks were giving problems with cheques from cash plus, but HW’s backlog has been going on since September and they try to blame the banks for everything.The banks have nothing to do with our deposits in Florida and we are getting the same run around.Max told me to bear with them until October as they were short staff, but they employed more people and would be back on stream, in the next two weeks.In October it was the banks, he told me that he took his money out and was all over(bank of America and others) opening accounts,by November things would be back to normal.Afer that he sent out a letter to investors askong them to give him until December10th and everything would be paid up.Well today is the 12th and I am still two months short of my interest. All the best to the HW investors, as many like myself did not and could not imagine that this man was up to no good !!!!!
tn said,
December 12, 2007 at 10:28 am
Re,
I must say I totally agree with you. I am also overseas, I am not sure how the banks situation work, but I know that if they are having problems locally, y then could not the wire transfers go through fine? I call the office and made them aware that I did not recieve last month’s interest, they told me that the person responsible for the wire transfers to the over seas accounts would be coming in later and I should call back. I called back the following day and was told that she was out of office and would not be back until the following week. I asked when I could expect my payout and was told, I don’t know or I can’t say. That was the only honest answer that I got because I know they really couldn’t tell. Talk about a run around. They also told me that they are no longer paying out at the mobay branch. Ofcourse I regret investing my money with them. I have no doubt that this is a scam or if its not totally, then something is definetly up. You guys may want to bash US but think about what he is saying and then make your decision, do not totally disregard his comments. For one, the sites that were created by Higgings Warner, have nothing behind it, its just an empty website that can be created by anyone. All this talk about investing with walt designy mundo is crap. Why would someone want to use a name like that when they are not in alliance with Walt Design, this can be only for one reason, to decieve. … Anyhow, I am standing in good faith that I atleast get out what I put in even if I have to cut from now.
sixto22001_JA said,
December 12, 2007 at 10:54 am
Hello everyone
There a few court cases going on with a few of the investment clubs and both the banks and FSC. This helping to slow up the process of paying out interest as injections are being filed back and fouth. What i i’ll suggest is that we all try and be very positive and help each other where it’s posible. As to the topic of wire transfer. We must understand that wire transfer is a very expensive business and none of the investment club is willing to foot the bill for this, hence they are trying to avoid this process where they can.
Most of us have invest in these clubs but i dont think we are all thinking positively and trying to get to the real reasons behind what is going on. With out any doubt there will be one are few of the investment clubs that may be scams but for the most part they are not. My point is my fellow investors. Stop listing to time wasters and try and find the root problem before making public out cry of fruad. Hope this do turn out better for those having a bad time.
Rohan i need to contact you , how can i do this?
Tb i need to contact you re- minvestment, how can i do this?
sixto22001_JA said,
December 12, 2007 at 11:10 am
U.S. and Spartan you have just been nominated for on OSCAR Award next year. You two are truly both clowns who seeks to feed on the emotions of the mentally fragile persons. We all get your points but we really dont need them. As i recalled i asked you both to put forward resonable alternative for persons in these clubs. To date all i can see is you guys still here with the CRAB INNA BARREL mentality.
U.S. i get the picture, you are really a millionaire but only in your mind. For all we know you are some scewed up retard, cripple in a wheel chair with nothing to do that try getting people to think less of them self and what the can get out of life. In the real world when people are sick or when they have their bills to pay, they cant sit and idle and hope monies will fall from the sky.
Find something better to do with your time, and if you are really a millionaire go to a golden age home and help one. I know you wont even listen to me has you will prove all i say right with loose speaking .
Spartan said,
December 12, 2007 at 12:33 pm
ok
I Apologise as i do understnad that many of the things that i said were hurtful to people especially if they have money invested in these Investment Clubs. But the truth, does hurt, I wish I could have gotten on this site earlier to try and help you guys even though u think Im trying to hurt you with this “Crab inna barrel’ mentality. You have to call a spade a spade my friend. I took a look at the Cash Plus prospectus: If you put your money in for 5 years they are gonna pay you 13% a month (US dollars). What that means is if a wealthy investor put a million dollars in . . .which many people can. . .they would be two times richer than Bill Gates when the five years is complete. That my friend is hard mathematical facts. . .if this was real Carlos Hill would have his own money in it. . .he could definately pony up a couple million. . and he would be the richest man alive by 2010!! Is an alarm bell going off in your head yet. . does this seem possible. ..even if we were living on Mars. . and pigs lived underwater and animals spoke english I would find this suspicious.. IF THIS HAS BEEN GOING ON FOR 4 YEARS LIKE THEY CLAIM. . .THEN CARLOS HILL SHOULD BE THE RICHEST MAN ALIVE!!
I’m sorry if I have offended anyone or made they’re day a little worse in these tough times. .i really am sorry because i know that the alternatives to get money in jamaica are limited to none. ..its really rough. .but the situation becomes worse when someone tries to rob poor people. . I just cant stand by and watch this happen. . .
The Spartan has spoken,
U.S.... said,
December 12, 2007 at 12:43 pm
The story that Higgins is going to U.S. banks is baloney……and is a delay tactic. The fact is, U.S. banks are regulated and won’t touch his money since it is a scam. Unfortunately Jamaican banks were at first unaware of the scam and now must deal with it and look like the bad guy which Higgins is now using to his advantage to those that feel disenfranchised. Higgins is mentally ill….with a criminal mind in my opinion. For those of good will, get your money out. For the haters, keep on investing and reach your “dreams” (too bad it will only be in your dreams since you’ll lose it all). The bottom line is if you could get 120% annual return why would you need other people’s money (especially from strangers)???
I hope Disney sues the snot out of that guy…. or he gets a taste of Jamaican justice if he hasn’t already fled the island. Someone in Jamaica needs to keep track of Higgins…where is he???????? Don’t let him out of your sight!
U.S.... said,
December 12, 2007 at 2:49 pm
I need Spartan to calculate how long it will take for Cash Plus to make Jamaica the wealthiest country in the world……who needs oil when you have Cash Plus, those Arabs could only be so lucky to have had Higgins and his kin instead of oil.
REFF said,
December 12, 2007 at 4:12 pm
sixto22001.
Please keep it clean, the physical and mentally challenge (retards and cripples) are not in this fight. No need to be rude. There are many millionaires in wheel chairs. I appreciate your frustration with the poster but there is no need to insult others. Keep up the positive posting; it’s very interesting and informative. I honestly believe you meant no ill will to this group of people but it’s not nice to refer to them in order to insult other individuals.
Spartan said,
December 12, 2007 at 4:24 pm
I have unearthed some neat facts . .
“As of December 2006, the euro surpassed the dollar in the combined value of cash in circulation. The value of euro notes in circulation has risen to more than €610 billion, equivalent to US$800 billion at the exchange rates at the time.[2] Resulting in the euro being the currency with the highest combined value of cash in circulation in the world.” quote taken from Wikipedia the largest online encyclopedia.
Now watch as I perform magic . ..and based on arguments from previous bloggers I am going to assume that some of them believe in Magic. .I shall withhold their names.
If Jamaica was to invest $1 million ( US currency) in Higgins Warner to help Max higgins reach the 1 billion dollar mark. . .in 2 years jamaica would have $6.4 billion . . in four years $51 billion and in 5 years we would have:
$3,276,800,000,000 . . .thats 3.2 trillion dollars. .
My point is, in doing a little analysis on monetary currency circulation. . that is not even possible. . .there is not enough U.S. currency in circulation. however they can always print money for Max Higgins right!
If we were to invest that money in cash plus for five years at their 18% a month model . . .we would have roughly 1trillion dollars. . Richest Country in the world . . .My GOD!!!
Tn said,
December 12, 2007 at 6:36 pm
@sixto22001_JA
It will not cost them anything to transfer money from their BOA account to someone else’s account. …
Rohan_GB said,
December 12, 2007 at 6:38 pm
sixto22001_JA contact me on xtdoug@yahoo.com
Rohan_GB said,
December 12, 2007 at 6:50 pm
Forex trading has been going on a long time and people like those above are up in arms and dissapointed the the normal man in the street knows about it and pool their monies together through an agent to invest.Sometime you win some time you lose.
People above are not happy at all. It must take a Jamaican to behave like that. Sadly the slavery mentality is still there.
By the way isnt the ole time Partnership some sort of ponsi/piramid scheme. I never go back into a partner. The banker take a % out of the money, why? The only bennifit is that you get the lonesump before you save up all that. But after a while partnership get boring.
The One said,
December 12, 2007 at 6:52 pm
I have received my interest from higgins warner, although it was late, had it collected at thier office in montego bay
U.S......... said,
December 12, 2007 at 7:21 pm
I am now convinced that Rohan_GB makes a commission on money he directs to Cash Plus. He keeps recommending it despite the obvious scam. If you want to enter into Forex, then do it, you don’t need Warner Higgins or other such convicted felons. Duh.
re said,
December 12, 2007 at 8:00 pm
THE ONE SAID, did you collect your money at HW today ? I was told that they have stopped paying for now.
The One said,
December 12, 2007 at 8:04 pm
collected it on monday from the agent who set it up for me
U.S..... said,
December 12, 2007 at 10:09 pm
The third richest man in the world’s returns on investments for the last 40+ years.
http://www.berkshirehathaway.com/letters/2006ltr.pdf
Higher risk doesn’t mean higher return. So, just because an investment is high risk doesn’t make it a possible jackpot. For example, if you bought Coca-Cola at a price that is 1000 times over its current stock price, I would say that is very high risk….and that doesn’t mean you’ll get a high reward for taking that risk.
Investments have little risk if you understand what you are investing in. Can you say that about Cash Plus??? Let alone Walt Disney Mundo (sorry, had to throw that in). The only thing that I do understand is that a convicted felon who was convicted on fraud may deserve a second chance ONLY if the investment is 100% transparent and verifiable. I don’t think Cash Plus is that…is it?
Juliet said,
December 13, 2007 at 1:07 pm
Hi Guys,
This is my take on Higgins warner: I have been getting my returns O.K. However I am not please for those who are not getting theirs.
1. The office here in Jamaica is going to cause Higgins warner to loose a number of clients due to their unprofessional behaviour. They are not organised. I understand that they are in back log due to some issue with the banks and the FSC who once froze their account. However if they are in back log. why not call a meeting and let the clients know what is happening. Communication is always the key to any successfull business.
2. The reps at the office are not well trained if they are trained at all. I doubt max higgins is aware of this. I will be passing on all the info to him based on what is going on here.
3. It should not be where a payment is ever missed, expecially for two months. Microsoft excell might not be the most powerfull software, however it carries a number of features. a Month carries a max of 31 days, I cant recall seeing one with 32. Simply, create a file in excell carrying different tabs day 1-30. forget about the month for now. On tab day 1 represents the first day of the month day 2 the second and we could go on to day 31. Now all the clients that started on the first of the month would belong at day 1, those who join the second of the month day 2. You get the drift.
Now on each sheet they can design it to have the different attributes for the client such as name, tel #, address, date started date end etc. referred by.
Thats it!
Now each day , just access the tab, check to ensure that the clients does not reach the maturity date to avoid overpayment. just access the tab for the corresponding day and ensure that all the persons on that tab is paid.
Gosh! I never though it could be that hard. I will be bringing my proposal to their table.
,
3.
Juliet said,
December 13, 2007 at 1:12 pm
I am so fed up with the office here in montego bay that I would not even. recommend anyone to call them for info. My advice to anyone who want to join higgins warner is to go direct through to their admin in argentina. After expressing my disgust for the office here Max told me to deal direct. He will alos need to know that the office here is going to cause his company to loose a number of clients.
Rohan_GB said,
December 13, 2007 at 1:48 pm
No mate, I am not getting anything from a soul. Do you see the living conditions that the poor people are living in Jamaica? People are just trying to make ends meet. I know people who work hard yet cant meet the basic standard of living. If people can see their way out by investing why not.
The man lost his job, but now he is able to pay his mortgage on his house and car + keeping his doughter in university no how about that. All you talk about that people is greedy. Is that greed? In the nineties when a man get lay off he used his redundant money to buy used car to opperate taxi. And we end up with an influx of illegal unregistered taxis on the streets. And the gov refuse to issue licences, saying there is too much cabs already.
Did you know that the $1 buses in NYC via Flat Bush were illegal and now they are regulated and have licence to opperate their route. What I want to see is a better quality life for my fellow Jamaicans.
Rohan_GB said,
December 13, 2007 at 1:48 pm
Juliet- that how Jamaica run.If you have the Jamaican staff running your business(at least some) you will be losing. They have nothing name customer service, they behave as if they are doing you a favour. And is you who are bringing in sales for the business. The only place you can possible get customer satisfoctory in in the hotel industry.
Tn said,
December 13, 2007 at 2:03 pm
Juleith,
How do you get intouch with the admin in argentina?
ensley said,
December 13, 2007 at 4:28 pm
juliet give us the detail as as to how to contact
admin in argentina
no email please a number preferably
thanks
REFF said,
December 13, 2007 at 6:05 pm
011 54 11 5278 6350…..HW Argentina
Jcan said,
December 13, 2007 at 6:06 pm
Is Juliet for real or is “Julet” HW in disguise? In this chaotic times with HW not paying how on earth can you be still trying to enlist people…. for them to loose their money! …Please, do your research people!
Juliet said,
December 14, 2007 at 1:51 pm
# 296 Jcan:
The answer is Yes: ” I am for Real” . I am not HW in disguise and I am not trying to enlist anyone for Higgins Warner. I am just an investor with then since June of this year. All I am saying is that the office in Argentina seems to be better organised in getting people their returns and getting them their contract ontime. This is based on another investors experience. I always encourage persons to do their own research prior to joining.
Even the agent that I spoke to in the US recently saw how disorganise they are in Mobay. He says he was astonished when he came here , he himself was wondering what they are doing. If you visit the office here, you will see for yourself. I just cannot believe you would think that I am trying to enlist anyone. Each person has a responsibility to do checks for themselves. Prior to going onboard though I was referred by someone I know, i went ahead and did my checks. There are no babies here Jcan.
I am not an agent, neither am I related to Max Higgins or have any affiliation with his company. I am just an Investor. So please stop making assumptions.
Peace Out
re said,
December 14, 2007 at 2:45 pm
how can it be said that the office in Argentina seem to be better organised in getting people their money?
Juliet– I am not saying you are an agent nor did I get the impression that you were refering people to this company, but I get a diferent take on the whole HW company. First of all Argentina does not have your records , every account for Jamaicans and Floridians are in Mo-Bay, Jamaica. I asked Max last month to send me my interest and his first response was that I send him my bank information and address ,as he does not have it. Of course when he realized the amt. he owed me he did not get back to me, no matter the amt. of emails I sent him after.
Today I sent him an email asking which information is correct,as I was told that he is in Dubai looking about accounts and that will be the only acc. used and mr. Gilpin said he is elsewhere looking about accounts .Both men are giving clients a diferent time for payment and I needed to get the correct answer. Max’s reply was; ‘ IF YOU GO TO A ROLLS ROYCE DEALER AND HE TELLS YOU SOMETHING , THEN YOU GO TO THE MANUFACTURER AND HE SAYS SOMETHING DIFERENT,WHO WOULD YOU BELIEVE ?IF I HAVE TO TELL YOU, THEN I AM SORRY FOR YOU!!! WHAT IS THE NAME OF THE COMPANY? HIGGINS WARNER !!! WHAT IS MY NAME? HIGGINS !!! I SIGNED THE CONTRACT,I CREATED THIS COMPANY !!!
the man has a nerve !!! he has a representative and seem to be saying that we should not listen to the representative,only to him.The whole HW is in a mad state. If I have a company then I would have to set the rules at the branches. How can he just leave them on their own ? Max seem only to care about collecting the money and not the heck about the paying out part.Someone said before that this man is a looney,and now I am seeing for myself. HE WILL BE SORRY FOR HIMSELF WHEN THEM PLACE HIM BEHIND BARS !!!
U.S... said,
December 14, 2007 at 4:29 pm
If they are this unorganized with keeping track of something simple like your accounts (that are a ton of very simple computer programs and spreadsheet programs that will do this), then how the heck can they run a business???
Juliet said,
December 14, 2007 at 4:45 pm
I am saying that they are better organised based on the quick response they gave an investor interms of his contract and payment. He informed me of this. He went straigh through Argentina initially and initially and he had received everythinh on time. I am not the one that went through Argentina. I am gievn the impression that they are much faster compare to a few experiences I have here with regards to contract.
I also know what it must be like to be hearing two stories. I would be concern myself. They all just need to get their facts. I dont believe they were expecting to get such great response. I guess its fright “L.O.L”.
I have a strong feeling that you will get your money though.
All the best.
Actually US, you are correct on that.
Jcan said,
December 14, 2007 at 8:25 pm
#290….I was baffled with the quote below taken from your blogg in #290
Juliet states “My advice to anyone who want to join higgins warner is to go direct through to their admin in argentina”……………..!!!!!!!!!!!!!!!!!!!!!!Why would anyone want to join HW’s sinking ship??????????????????????
So, if I misinterpret the above statement my apology……As a fx investor on this blogg I would not wish or want anyone to be deprived of their investment whether the old investors or the baby investors….whether you have invested what you can afford to loose or not…
Wishing you and all the other bloggers peace on earth and financial prosperity.
re said,
December 14, 2007 at 8:58 pm
I heard there is. someone in Florida who gives classes on FX trading. Can someone give me info on this?
Jean do you do fx on your own or do you use a company to trade for you ?
As of next year I will definitely be investing on my own.
Rohan_GB said,
December 15, 2007 at 6:31 am
Ask U.S. I bet he wont tell you because he and his cronies wants to keep you out of the busisness.
re said,
December 15, 2007 at 9:01 am
Gome on U.S. shed some light, anything in the Florida area? prefer not to learn online if I dont have to.
mungji said,
December 15, 2007 at 10:01 pm
Something Max said in a mail to me…
This is Max Higgins
This is the only plan right now and I have to stick to it. All monies will be sent and recieve from Dubai starting next Thrusday, December 20, 2007 all payments will be made from Dubai via wire and all payments must be sent to Dubai.
mungji said,
December 15, 2007 at 10:02 pm
In another mail he wrote the following….
This is Max Higgins,
Attention to all client in every country. Under no circumstance will Higgins Warner Group do any business with the following banks in Jamaica.
Natioonal Commercial Bank AKA NCB
Bank of Novia Scotia AKA Scotia Bank
Royal Bank of Trinidad and Tobago AKA RBTT Bank
Higgins Warner will not send bank wires from Dubai to any client that use any of these banks.
Clients will need to open bank accounts with other banks in Jamaica when sending or recieving money in Jamaica.
Sign, Emile Maxim St. Patrick Higgins, AKA Sir Max Higgins
Founder, President, CEO, Chairman
General Counsel
Ijay said,
December 15, 2007 at 11:53 pm
I have gone through 75% of all these comments in regards to these investment clubs and have found most of them very interesting. However, at present, I am not in a postion to say much, except that all investments include a great deal of risk. Therefore, I think we should not be quick to judge until we get all our facts together. Better yet, let time takes care of everything. Whether these Clubs are good/bad will reveal in time. Peace!!
PJ said,
December 17, 2007 at 2:20 am
Well hello to everyone i am a young lady originally fr. JA but live in the cayman islands and i am very intrested in an investment plan anyone with advice for me? someone with experience in this pls
ensley said,
December 17, 2007 at 8:00 am
PJ if you want sound advice here it is:
keep yu money unda yu mattrass!!!!!!
Regards!
Tn said,
December 17, 2007 at 10:08 am
I agree with you ensley, if you don’t want to have to chase anything leave you money where it is. Risk is acceptable, but we don’t know what our monies are doing. We don’t know if its being used to invest in forex or whatever else there is. So what kind of risk are we talking and is it acceptable? We don’t know. We are just entrusting our monies in the hands of individual who just promises to give us 20% each month. So far, they have not kept their end of the bargin. What a promise????
A brochure I recieved from Higgins Warner indicated that “We are not an investment company, however we do borrow your money and offer you a repayment of 20%”. Make of this whatever you may.
Raja said,
December 17, 2007 at 12:10 pm
I have several family members and some friends who are invested with Higgins and they get paid regularly. My mother, 2 brothers, and a sister are invested in my immediate family. I recently learned about it from them and will be investing shortly. Just have to set up my account.
Raja said,
December 17, 2007 at 12:10 pm
Oh, they are in Florida by the way. I am near Washington, DC.
Tn said,
December 17, 2007 at 1:12 pm
Nice to know Raja
Analyzer said,
December 17, 2007 at 1:25 pm
I have made one post on this board to date and have kept it very civil. But hearing some of the comments on this site makes me just cringe at how ignorant some people can be. Yes, I realize that some people might not have the formal education to understand certain areas of the financial world well, but you have many educated people (that have no vested interest one way or another) advising you to stay away from these schemes. For the people that realize these schemes are a complete gamble and are basically looking to either double/triple their money or get nothing once the scam folds, then that is fine. But there are many people who believe these are real investments and putting in much more than they can afford to lose.
And please don’t give that crap about the “big man” wanting to keep the “poor man” down. Absolute nonsense. Do you really think anyone actually believes that.
It has been said many times, but is worth repeating. Earning the kinds of returns these schemes are promising is simply not possible. They are not willing to give any financial statements that would validate these claims and the only reason for that is that they must be hiding something. Otherwise, why would they refuse?
These schemes depend on “cheerleaders” to keep the money flowing in so obviously you will keep hearing many good things. ROHAN on this board is a perfect example…he clearly has some vested interest in Cash Plus (or is simply an idiot that cannot understand simple logic). And just to preempt your response ROHAN…if you are so sure that these are legitimate schemes…please explain with detail how they could possibly make so much money in such a consistent fashion…and why they refuse to show audited financials? Just curious to hear what you have to say other than attacking anyone who speaks negatively about these schemes on this board. It’s about time you posted something of value and use to everyone hear.
sixto22001_JA said,
December 17, 2007 at 1:52 pm
Nuff respect everyone, i’m back
Reff, thatnks for cautioning me, you have valid points and i may have used the wrong set of words to discrible the circumstance so i’ll admit you have a point.
Spartan, i never thought you have it to make that kind of responce to my challenge and i have to agree, people will not always see eye to eye on everything but that don’t mean they don’t have a right to voice their opinion, i also understand your concerns.
I cant say the say of our other friend as he is yet to provide anything constructive and balance to help any one here (U.S.)
Tn and ensley i think your advice to PJ could have been different. This investment thing can bring different result depending on the company that you invest with.
N.C.B placed on ad in the sunday gleaner dated December 16,2006 saying they have no account for Higgins Warner or World Wise. A few weeks ago Scotia Bank put out a simular ad saying they have been in business for 118 years and their integrity need not be question, also that they have no account for Higgins Warner but nothing was said about World Wise.
I have some money that i wanted to put in World wise since November but have not done so base on what was going on locally. The fact of the matter however is this. Scotia Bank has account for World wise but they have not made this public notice and no one is pressuring world wise either. It’s public belief that one of Ja most successful banker is backing world wise and hence the reason why you have not hear anything about them. By the way i know Scotia have account for them because one of my very close friend invest in World wise have has get his money every month, problem free.
The FSC published and ad listing the set of companies that were register but not regulated and world wise was one of them. Cash +, OLint, Higgins Warner and a few most of the investment clubs are being pressured by the FSC but no one has touch world wise. Would you say that look very odd?
PJ, Investing in HYS has always and will always be a risk. The higher the risk the higher the gain or loss. My advice to you is locate a pool of clubs and do some research on them and base the information you gain then you decide weither or not to invest.
If you have your one life savings dont take it and put in any of these clubs, sure take a small part and use it but dont use more than you can afford to lose should something go wrong.
You have to be balance about this and if you are not careful you can get false information with would lead you to making bad investments.
The case between cash plus and N.C.B is set to start today and the other case between cash plus and FSC is set for January 23, 2008. The Jamaican Government is waiting on the out come of the last case to help determine their approach towards HYS. I encourage any one one who can to follow these cases closely.
Is there any one here who have been with Minvesnt.com for a long time? they seems like a good investment right now. Can any one give their opinion?
Much said.
Rohan_GB said,
December 17, 2007 at 6:08 pm
Why would any one pick me out as cheerleader. I just make my point and personal opinion and thats it. You are just speculating and have no hadr evidence. If you have it cut it and paste it here.
314 @ Analyser
How can I lose all my money and I have recieve my principal back already? How many people did a run on Nothern Rock in the UK couple of months ago? That institution was an investment Co. too. How many lost on race horse betting, gambling at Vagas isnt high risk?
I know why ‘Regulate’, there are so many reason including to protect the public interest or to control the market anong others. By the way not every body studied banking and finance, there are other profession so you cant say people are illiterate. Only you alone bright with 3 degrees…………
black said,
December 17, 2007 at 7:19 pm
i hear about the minvestment along with higgins plan i live in the cayman island can any one tell me what they think about anyone of these investment plan is they real as they post on the website
mb said,
December 17, 2007 at 7:27 pm
hi i am presently living in the cayman island n i want to invest. can someone who know about the m investment n higgins inform me about it pls?
mb said,
December 17, 2007 at 8:38 pm
i was reading about world wise investment can someone give me a email address or where it is located in jamaica i live in the cayman island
sixto22001_Ja said,
December 17, 2007 at 9:58 pm
MB the address is http://www.worldwisepartner.com and you can email them at admin@worldwisepartner.com
They are locate at 21/4 Ruthven Road ,
Telephone 1-876-754-9473
They are very professional and you hardly hear much anout them in the news.The Fsc have them has not regulated but for some reason they have not touch them yet
kf0724 said,
December 18, 2007 at 1:33 am
O.k. it’s the first i’m hearing about this worldwise. How much does it payout and how long has it been around. My friend is in HW and is yet to get her December payout. I was very much interested but after reading the comments i think i’ll pass. But really U.S., some ideas on making clean money would be appreciated.
I know it’s gonna crash, come on it’s impossible to payout that sum of money on a monthly basis to so many ppl. My problem is, why the hell did it choose to crash before i got a chance to taste a piece of the pie? Why do i always hear about things just before they go down. Partner plan now this.
Analyzer said,
December 18, 2007 at 4:51 am
ROHAN…sorry for singling you out, but just trying to get my point across. If you have gotten all your principal back, then I am very happy for you (honestly), but there are many more people investing for the first time right now who believe that this is not a gamble and they are “real” investments. That is how ponzi schemes work…the early investors make, but there is far more money coming in towards the end that will not have a chance to sit there long enough to earn back the principal and it is these people that will really get burned. If everyone investing realized that this was just like gambling (or going to Vegas as you put it), then that would be fine and I would have nothing else to say…but that is not the case…people are investing their life savings thinking they can retire off of these schemes.
And you are right, I have no hard evidence of anything. But that is exactly my point…we have no hard evidence to what any of these schemes are actually doing. You are putting your money in “blind” and just hoping for the best. The one fact I do know is that no legitimate investment plan in the history of financial markets has given these types of returns in such a consistent fashion and I find it hard to believe that all of sudden, there are numerous “investment geniuses” popping up in Jamaica all at the same time offering the best returns in the world. Just doesn’t make sense and in my opinion, is clearly ridden with fraud.
Either way, it looks like we will get some answers either way on Dec 20th (see link below).
http://www.jamaica-gleaner.com/gleaner/20071216/business/business1.html
Chick a Dee said,
December 18, 2007 at 6:58 am
Has anyone gotten debit cards from Cash Plus yet. ? Are people getting their interest still?
sixto22001_JA said,
December 18, 2007 at 10:48 am
It’s really remarkable how some people can sit on a wall and tell you everything that is happening inside your house, how do they do it? Maybe it’s magic. I can not talk for all investment clubs but those that i’m with have clearly outline the risk involve to me. As i understand it this is standard operational procedure.
Analeyzer, have you ever been in one of these clubs, do you have person experiece with the running of any of these clubs? which one if any?
My point to you is simple.It this world there are many things that done and the holy and small people defenders sit around and allow it and when other simular things are dont differently it suddenly become a problem to them.
If any one want to sell their house and take the money to Saudi Arabia once a year to place in the richest horse race in the world, the dubai classic i think it’s call what would you call that. My find, taking risk is just a part of life, sometime you get burn some times you get glory. Everything in life is about risk. You can live your life in a shell and let life throw you to the cerve or you can try and step out and do what you can to not get burn, either way the choice is yours.
I’m really pratical about life. Any one who know about forex can tell you that most of these clubs are invlove in trading. Why is it ok for centrial banks and large international companys to make money off trading with out facing the problems face by these clubs?
The reason is simple, one country will invade another because they have oil but will pretend not to see another who is not treating it’s people good simple because there is no wealth there. Is that right? no, but other sit and allow it. I’m not saying that fruad is not involve in some of these clubs but not all. I’m therefore imploring you to take a more balance look at things before we cast judgement or condemn something to failure.
Much said
Gemini said,
December 18, 2007 at 2:08 pm
@Kfo724…..The reason why HW investors with Dec due dates have not seen anything in their A/C as yet is simple…They advised that Dec payments have not been posted as yet. Payments up to Nov 19th have been posted. They have a backlog of appx 2 to 3 weeks. The reason why they are not allowing individuals to collect cheques in officepresently is because they are exp difficulty in obtaining cheque books from local banks. As I already said I ( and several investors that I know have been getting monthly payments but they are late. Despite the inconvenience I have no regrets joining them as they have been paying ontime for quite some time until recent months due to local bank issues.
Rohan_GB said,
December 18, 2007 at 4:08 pm
People have been advised not to put their life saving in HYIs.
#By the way payments can be made through paypal be you cannot withdraw money in Jamaica. I dont know why. My customers email me money through paypal from Jamaica though. But it cant work the other way around. I bet its the banks and fsc to blaim.
sixto22001_JA said,
December 18, 2007 at 4:50 pm
Correction, Dubia is in U.A.E. and not Saudi Arabia.
sixto22001_JA said,
December 18, 2007 at 4:50 pm
Correction, Dubia is in U.A.E. and not Saudi Arabia.
U.S... said,
December 19, 2007 at 1:22 am
First, PayPal (U.S. Bank) is smart and they know where the scams are….Jamaica (among other countries). So listen up, Cash Plus is a scam. It is NOT Jamaican banks that block withdrawals in Jamaica, it is the U.S. banks. I wish Rohan_G would lose any gain since that money will undoubtedly come from other innocent people who are ripped off.
Second, as far as advice goes, buy the symbol VTI. It is the Vanguard Total Stock Market (U.S.) Index fund. It isn’t fancy, but it is cheap and in the long run is a great investment and very very very low cost. If you want a short term trade you’re on your own. Stocks may get priced funny in the short run (which is like gambling and is how traders make money, or lose money as the case may be) but in the long run stocks are more fairly priced to company values. When you buy stocks, you are investing in a company and should look at value since in the long run that is your best path for maximizing your returns.
Third, most investment clubs really are part of the multilevel marketing scheme. Beware. I’ve seen this type of thing many times….they are almost like a religion or cult (need cheerleaders) to get you to make an emotional decision instead of a well thought out logical one.
Fourth, I am amazed at how people jump on a scam with no regard to those who will be left holding the empty bag. Shame.
U.S... said,
December 19, 2007 at 1:30 am
Another comment…
Suddenly, out of nowhere, the greatest financial geniuses in the history of man have sprung up in Jamaica…and they keep multiplying like their promised investment returns….er I mean borrowed money returns since these aren’t investments. Jamaica is now the financial capital of the world able to multiply fishes and loaves. It is a miracle!!!! Oh please. While I must state that Jamaica is blessed with many good things and people, I’m not about to proclaim history’s top financial geniuses suddnely appeared on the scene and want your money (if they are so darn smart why do they need your money?)….especiially when one of them is all ready a convicted scam artist (what….did he find Jesus in jail … and did Jesus teach him how to multiply money?). Wake up, stop the scame NOW!!! Or at least on 12/20!
REFF said,
December 19, 2007 at 6:47 am
US…. I have to agree that in the end these companies with fold as a result of the pressure from the banks etc. It is a high risk investment and like any other risk in life there is the chance that you will lose. I personally don’t think that there is anything genius about 10, 12 % returns. It simply isn’t the norm. However, when you consider the very large salaries paid to the CEO and other managers in these financial institutions, other overhead, donations, sponsor, etc, and yet they still manage to make billions in profits. When you look at what returns the investors are getting from the banks, it is clear that bankers in Jamaica and elsewhere have been making these types of returns for years. I am sure that the persons running these investment schemes expect to make a profit for themselves. Therefore it is safe to assume that the banks can do much better with regards to interest. The banks are even charging to keep your funds. There was a time you could put $100 in the bank and in a few years, have a $100+. Today the banks start nibbling at that from the time it is deposited. Then after a few months they say the account is not active due to lack of any activity and charge a monthly fee for that. The real greed lies with the banks. People have lost their deposits in legitimate banks in Jamaica and elsewhere in the world.
I have to agree with you that this is a period in with investors should tread very careful with regards to one or two investments. Investors should read, listen, ask and analyze. There is nothing remotely genius about larger interest rates. If the banks decide to pay half of what C+ is offering it would not hurt their bottom line.
re said,
December 19, 2007 at 8:42 am
Welcome back U.S. BUT DID YOU IGNORE MY QUESTION ON fx ? or do you mean that you only do stocks. I asked ,who is best to learn FX from at the best price.
Hey guys HW made a payment to the people in Florida this week!!! seem christmas wont be as dark for some as predicted by the grinches.
ensley said,
December 19, 2007 at 11:39 am
re 332
so wat ?
yard people no want have a white christmas too??
re said,
December 19, 2007 at 11:58 am
Sorry, Ensley,guess I got a little over joyed!!!Heard the manager will be back in Jamaica on Wednesday to hopefully make your Christmas a snowy one.
U.S.... said,
December 19, 2007 at 12:18 pm
Hey REFF – Haven’t you heard, Cash Plus isn’t an “investment” according to the Cash Plus bosses…..I personally call it a scam. What other company is “making” 10%-15%-20% PER MONTH??? Cash Plus is NOT an investment, repeat, Cash Plus is NOT an investment so please stop characterizing it as “take on more risk, get more reward” type of thing. It ain’t and will never be. This will end very badly. People in jail, violence, etc. It is a shame and totally avoidable. Cash Plus makes “payments” (hopes you reinvest) to get more money to come in, that’s all….in the end itis a Ponzi Scheme. How can anyone invest in something they have no idea what they do without any regulation or transparency whatsoever.
Charlibabe said,
December 19, 2007 at 2:04 pm
Cash plus pays 20%?? Thought there rates were in between 10-18%!! They have really kept the so called “Ponzi Scheme” running rather long.. 5 years is it???
sixto22001_JA said,
December 19, 2007 at 2:18 pm
Bwoy U.S… you better than T.D. Drakes, you can preach, you should rename yourself again. Any way tell us more negatives, maybe sometime next year someone will listen to you. Lets see how much more we can learn from the MASTER CHEERLEADER (U.S…)
Gemini said,
December 19, 2007 at 5:25 pm
I laugh to myself when I read some of the comments US make. Though I do agree with alot of his statements regarding making logical informed decisions etc he seem to forget that many of these so called scams as he puts it arent even based in Jamaica. If Paypal see Jamaica as scam city what about the plethora of online investment sites that are based soley in the USA, many of which vanish into cyberspace after a while ? What about the many Work At Home sites that are US based that requires an initial deposit prior to being employed ? After which little or no money is earned…eg TheHomeWorker.org…And they think Jamaica is scam country ? Thats a big joke. USA is one of the largest scam reserves in the world esp regarding online promises. If Olint/WWise can successfully offer me 10 to 12% monthly on my USD investment via FX trading why shouldnt I take advantage of it ? Many individuals are doing the said FX trading from the comfort of their homes.
U.S..... said,
December 19, 2007 at 7:12 pm
I just watched more Carlos Hill on YouTube.com. Sooo funny. He is like a preacher. He tries to falsely associate himself with legit business names…so sad. Then claims this and that is paid for but never shows the records. What a scammer. My personal opinion is that he is mentally ill, without a conscience, and delusional which is really scary that he believes that he can make you believe anything he wants you to believe. Now he claims that he is being attacked … and hence YOU as the investor is being attacked too so instead of directing your anger at him, direct it at the banks and the press.. He had limos, houses in France, jets, etc. …. yeah right….I think he was in a federal jail instead. He is very scary in that he can so calmly lie. It is a mental illness. He is not a savior, but a demon in white. Pure evil to steal from the poor, to deceive like that for his own glory, evil, evil, evil…..
POSITIVE said,
December 19, 2007 at 10:53 pm
U.S. you are certainly getting all the attention you seem to so desperately seek!!!!You are so filled with hatred,it is pathetic.If lots of people were complaining to you ,then I could understand,but even though people are saying how these companies are seeing them through college and helping families,you still are not happy at all !!!. It seem as if you are angry at people making money!!!Come on man, stop the crab in a barrel style and be happy for people. If you have another way for people to make money ,lets hear it . After all that is what this forum is here for, to share with each other, but all you are doing is complaining.Come on give hope !!! this is Christmas.Some of us already know we made mistakes and some made wise investments let us get what we deserve in peace!!!!
US. said,
December 20, 2007 at 1:22 am
Hey POSITIVE — I just gave some advice. Put your money in VTI, the Vanguard Total Market Index for the long term. It may not be flashy, nor does it come with a bunch of marketing BS. If you need money for college, get a job and put the earnings in a high yielding FDIC account earning 4.7%-5.5% APY and if you want to put $1 in lottery ticket for fantasy’s sake then do it, but only ONE dollar a week. I have no hate, and do want everyone to do well, never have been the jealous type and have helped many people.
sixto22001_Ja said,
December 20, 2007 at 8:02 am
U.S…, i have to say that you are truely a master at what you do. Your self proclaim good will though appreciated really has no effect now. For weeks you have been asked to put something positve on the table and you have done nothing but seek to bash people here using colourfully words. My opinion is that your mind set is total screwed up. After saying that people who invest in HYS are gaining at other persons lose you are going to mention buying a latto or lottery ticket? Isn;t that gambling? Isn’t that someone gaining from someone else loss?
I personally knows nothing about your FDIC account but the concept sounds ok. Dont you think persons here like me have such types of accounts?
You my friends seems to think you are the only one with brains, having degrees does always make you smart or give the natural ability to make good descisions.
I personally have a canadian growth fund that has average over 42% growth in the last 12 months and i’m sure many other bloggers here have other lower risk investments too. We appreciate your input however like the good old saying goes, the buck stop here.
If you want to warn us about the ill’s of getting into HYS then no problem but when you dwell on it each day, trying to beat it into others head then you have become an extremis and extremis in any form is bad.
What i did was i invested in cash plus first and then drag a part of the interest to my mutual fund. Here is the funny thing. The FSC does not cover mutual funds which therefore means that if the company go down i will get screwed. At the same time, mutual funds are classified as safe investments.
The key to investment to to have propers control. Keep some money into low interest accounts that are stable and where you can pump some into HYS. Take the risk you can afford to live with.
Much said
POSITIVE said,
December 20, 2007 at 8:17 am
U.S. if we take those advise of long term stock market investments ,4-5 % APY and lottery tickets, we would all be broke. Yes I agree that we have to make careful decisions and invest in low risk investments,however we also realize that if you want to achieve greatness you have to take some risk. You claim that you are very rich, good for you, but it is one out of two things,either you are a liar or you do not want any regular Jamaican to have what you have.
U.S... said,
December 20, 2007 at 12:59 pm
Oh my gosh….you caught me! I secretly don’t want anyone else to have any money, esp. Jamaicans! Obviously I am being sarcastic.
The lottery ticket of $1/week was to satiate the you’re missing out of the lottery mentality that is fueling Cash Plus. I have seen the average “investors” in Cash Plus and for most this is their only savings/investment. Obviously, these people are not the most financially sophisticated and will be the ones that get burned. Good for you who are so smart to participate in scam and not get hurt….but what you do causes others to get hurt in the end. Shame.
My advice is good, get a job, work hard, start your own business, put your cash in a low cost long-term stock market index and the cash for your short-term needs into a higher interest insured savings. Start with that and once you are more experienced then you can do more. Cash Plus is a false hope…and is evil. But go ahead and keep telling less financially sophisticated people to give you their hard earned money to a convicted con man….THAT’S REALLY GOOD ADVICE ON YOUR PART. I’d take my advice over your advice of handing over your money to a thief. Uhhhh, duh!
Rohan_GB said,
December 20, 2007 at 1:04 pm
329 @ US Are you gussing or what? Paypal pays out checks to Jamaica though. Get your facts right. Perhaps Olint and C+ mash up ur Business and or you fell out with them. Why would you want me to lose my gains? I have used it to my business and pay my £10,000 a year uni fees already. I cant lose that education ….. now who is the loser.You stand a much better chance of losing than me. And who will go crazy….U.S.
Rohan_GB said,
December 20, 2007 at 1:07 pm
A dat you want people to take advice from you, hell not me. I will for ever investing HYI and LYI and there is nothing you can do about it.
U.S... said,
December 20, 2007 at 5:03 pm
Good article:
http://www.marketwatch.com/news/story/four-ways-protect-yourself-retirement/story.aspx?guid=%7B046E33E8%2D02C2%2D4C7B%2DBC99%2D3CE9E9FFC4C0%7D
MARSHALL LOEB’S DAILY MONEY TIP
Retirement scams to watch out for
By Marshall Loeb, MarketWatch
Last update: 10:05 p.m. EST Dec. 19, 2007
Print E-mail RSS Disable Live Quotes
NEW YORK (MarketWatch) — Despite denials by the venerable economist Milton Friedman, there is such a thing as a free lunch. Only now it’s more likely to be a free dinner, served as a come-on by brokers attempting to recruit new investors, notably seniors in or nearing retirement.
But be cautious before calling the phone number on the brochure that asks, “Are you worried about outliving your savings?”
“The free lunch seminar is definitely an issue,” says Kimberly Lankford, author of a Kiplinger article about retirement schemes in the January 2008 issue of the magazine. “It prompts people to say, ‘Oh my gosh, that’s exactly what I need.’ It preys on their wishful thinking.” Lankford found that in a check of free-lunch sessions, the Securities and Exchange Commission discovered unethical business practices in almost half of them.
Here are four strategies from Kiplinger to help you protect your assets from retirement rip-offs.
Be wary of promises of unrealistic returns. “Anything that talks about average returns higher than 11% should be treated with suspicion,” says Lankford. “If the broker goes from saying ‘averages’ to ‘guarantees,’ be ready to walk away.” Because retirees typically prize having the option of immediate access to their money, high, short-term returns seem particularly appealing.
Check a broker’s professional background. Using Financial Industry Regulatory Authority’s Broker Check at http://www.finra.org, you can find information on approximately 660,000 currently registered brokers and 5,100 securities firms. If the adviser is a financial planner, check credentials with the CFP Board of Standards (www.cfp.net). Also refer to the Senior Investor Resource Center and the SEC’s senior investor page. Verifying something as simple as whether an agent is licensed can keep you out of serious trouble.
Keep records of meetings. Take notes when speaking with a broker about your investment goals, or ask for a summation of your discussion in writing. Requesting paperwork can discourage an agent in search of an easy mark.
Set up an account. When paying for investments, never write checks directly to individuals. Open an account with an independent financial institution. That way you’ll also have leverage if your investment starts to lose value, or if you discover your broker has rated the risk it carries below its real potential.
Marshall Loeb, former editor of Fortune, Money, and the Columbia Journalism Review, writes for MarketWatch.
U.S... said,
December 20, 2007 at 5:05 pm
Rohan_G: Your business ethics will catch up to you eventually…. there is no free lunch.
Winston said,
December 20, 2007 at 9:08 pm
The Financial Sector Collapse in 90’s
Folks,
Let get it clear and not say what Bruce did say.
The PM made it very clear that the matter is before the courts and will therefore await the court ruling before deciding what the government course of actions is likely to be.
We cannot therefore say, that the so called “big-man” dem have lost and Bruce is for the alternative investment schemes.
We must all seek to inform those of us who comes to this site looking for information and while the heading of this sections says rumours, there is some good information that is made available here.
We must not be blinded by the fact that being part of the alternative schemes, that anyone who speaks against them in “bad”, but see this as the view from being on the other side.
Lets create less hype and speak about the facts, or if its an opinion, lets be very clear that this view is my opinion only and not based on any facts.
When people start attacking the managers of banks in Jamaica,(and others of course) it cannot be good PR for CashPlus or any other alternative scheme. Folks let us be civil and do not incite others to create problems.
On the issue of “The trials of Carlos Hill”, I think he needs to come forth and say something and don’t be like Portia on Trafigura.
Mr. Hill when he has completed should ask publicly the following questions.
1. What caused the financial meltdown in the 1990’s?
2. Were all the financial institutions regulated, and by whom.
3. Did they present annual audited financial statements by reputable auditing firms?
4. Did Jamaica have financial analyst back then?
5. Did any of our current analyst or those back then ,foresee the impending demise of the sector having been “carefully” studying their audited financial statement and business models.
6. Was the Jamaican public, which was using these banks, warned of the impending disaster, which was lurking in the shadows?
7. How many Jamaicans would have been affected by the banking sector collapse Vs how many Jamaicans who now have money in those HYIP.
8. Why none of who now cares so much for Jamaicans, did not care back then.
9. If these analysts who were pouring over these audited statements did not foresee a problem which was so disastrous for the entire country, why should we now believe them. Are they now trustworthy, or it that they were dishonest back then?
10. Were any of the financial institutions “cooking” the books, could their asset base match their liabilities. We now know that that was not the case. So how none that are now so wise not see this.
11. Did these institutions manipulate their financials to make sure that on paper things look better than what was actually the case?
12. If eleven is true, isn’t this one of the things for which Mr. Hill was charged and went to “prison”.
13. So how many high profile managers of these financial institutions were ever arrested and charged for fraud.
14. How many served time.
15. Where are they now?
16. If the Jamaican laws back then were the same as the US Laws under which Carlos Hill was charged, how many of our top flight banks managers would be in prison today.
I say Mr Hill ask the question ” For all those who are squeaking clean, please stand up and represent”.
Problem is most will not as they cannot profess innocence.
U.S. said,
December 20, 2007 at 11:21 pm
Winston – With all due respect, if the bankers were criminals then they should have gone to jail. But, Mr. Hill’s criminal activities are in a class by themselves. There is no comparison. Banks loam money to business that at least have a plan to “put X dollars in, create value, and get Y dollars out with Z profit”. Mr. Hill’s “business” ventures have no such ability to make a profit other than the “front” companies he “buys” to appear legit. The bottom line is NO LEGIT BUSINESS — ABSOLUTELY NONE — IN THIS WORLD WILL PROMIST 10-20% PER MONTH RETURN….NONE!!! It is so obviously a scam that I won’t waste my time trying to lead the the stubborn blind from going off the cliff. It appears the Mr. Hill is trying to position himself as a “messiah” and will blame the banks and govt. when things collapse (and they will collapse). So, Mr. Hill will be able to say if only the banks had not done such and such, if only the govt hadn’t interferred, etc. you wouldn’t have lost your money. This is a typical confidence scam and I very truly feel bad that Jamaicans have lined up to hand over their money to this felon. Greed is blinding I suppose…same thing in the U.S. when I see people buy $20-$200 of lottery tickets. Very sad. They waste all of their money on lottery tickets and then we have to support them on welfare…not good for any of them or us.
Analyzer said,
December 21, 2007 at 5:49 am
Really…are you all complete morons? A previously convicted thief (Carlos Hill) is offering you the best investment returns in the world and now is refusing to pay you what he promised. On top of that, the man refuses to give any valid proof that any thing he says is true. How much clearer could it be. Read the latest for yourselves and please tell me this isn’t an obvious scam (as they do not have enough money to pay out so need to wait longer and hope more people invest in the next month or two):
http://www.jamaicaobserver.com/news/html/20071220T200000-0500_130600_OBS_PAYMENT_DELAY_ANGERS_SOME_CASH_PLUS_INVESTORS_.asp
Be warned, this is not a good. Delayed payments are usually the first sign that the ponzi scheme is unravelling. Don’t be fooled by their weak excuses. GET OUT NOW.
Gold Mind said,
December 21, 2007 at 10:34 am
I really cannot understand why these people who have no money in these schemes are so concerned. What do you all have to lose? Is it that you care so much about us who you claim will lose our money? I think you should all join another site and let those of us in these schemes. Losing our money would just be like purchasing a brand new car, unable to pay all the insurance or may be none at all, someone steals the car and then you still have to pay for it anyway or even so buying a house you’ve invested in all your life, unable to insure and then it is engulfed by fire, so isn’t it just another of life’s big gambles. All of us in these investment schemes must stick together, pray and fast together and then take to the streets so that the strength of our voices can be forcefully heard.
Roli said,
December 21, 2007 at 11:03 am
Well i guess people to just hate to see others beeing ripped off. I for one dont like it. Especially when the peson who is doing it is an ex-con. But what can i say. You say fast and pray. Well I believe god has shown you the signs already but you still hoping he changes his mind. You pray for asign and just because it is a sign you dont like you want to pray some more. Well keep praying and fasting and ignoring the signs. As i said before. Some have gotten back their principal but many many many have not. No one can tell you who to give your hard earn money to, even if it is an ex-con. But I hope you are not convincing others to do the same (put money into C+) because that would make you in the same pit as Carlos Hill and just as liable to be prosecuted when it all falls apart.
Roli said,
December 21, 2007 at 11:05 am
Well i guess people to just hate to see others beeing ripped off. I for one dont like it. Especially when the peson who is doing it is an ex-con. But what can i say. You say fast and pray. Well I believe god has shown you the signs already but you still hoping he changes his mind. You pray for asign and just because it is a sign you dont like you want to pray some more. Well keep praying and fasting and ignoring the signs. As i said before. Some have gotten back their principal but many many many have not. No one can tell you who to give your hard earn money to, even if it is an ex-con. But I hope you are not convincing others to do the same (put money into C+) because that would make you in the same pit as Carlos Hill and just as liable to be prosecuted when it all falls apart.
Rohan_GB said,
December 21, 2007 at 2:24 pm
Investment schemes are cramping their business thats why they are so concerned. They are all key players in the financial sectors. Just like the new car sale company and the used car company. If I am not in the business of car sale I could not complain about the used car sale company importing too many new cars. Dem cant stop we now.
sixto22001_Ja said,
December 23, 2007 at 11:09 am
Dotor evil, opps i mean mr. U.S.., can you give me your export view od the cash plus unaudited financial statement publish in the gleaner of sunday December 23,2007. I’m really excited to here your opinion anout it. Dont let me down now, bring on and tell us about it.
robo said,
December 23, 2007 at 2:22 pm
No payment for DEC. as yet from Higgins?
G_Nice said,
December 23, 2007 at 6:47 pm
Can someone post the highlights of Cash Plus’ financial statement. I would be really interested in seeing some of the details. I have been waiting on this information for some time to help decide my perspective on the company.
Thanks!
U.S.... said,
December 23, 2007 at 8:14 pm
First, I am concerned about innocent people losing their money. I have no other interest….including no interest in Jamaican banks etc. I am 100% unbiased.
Second, if you trust UNAUDITED financials from a convicted felon, then you a just too gullible to imagine. I know you place you hope in Cash Plus, and I am sorry that for whatever reason you do, but you are stubborn to admit you were taken in.
sixto22001_Ja said,
December 23, 2007 at 10:09 pm
U.S… you are really not as intelligent as i thought you were. Publishing a false finanacial statement is like taking yourself to the jail and locking yourself inside and throwing the key away. Quit wasting our time here because you have nothing at all to contribute. You’re just like the man on the corner who claims he is not going to work for what a next man will work for and who is the first to rob that man when he work. Come on get out of here, go to siberia, maybe you can find someone there who have no sense that you can brain wash and enslave mentally.
Do you recall what happen to Enron? The boss there was not fellon and the reports there were audited, but someone cooked them up. You will condemn cp plus at alll cost, go find some work to do man. I made my money there and like it or not you can take it back.
Rohan_GB said,
December 23, 2007 at 10:13 pm
Stop telling lies. You dont realy care. You want to see poor people stay there ie. below you. I bet you will be laughing and say stay where you belong….
Rohan_GB said,
December 23, 2007 at 10:17 pm
Merry xmas every one. Save some of the spending for January. Hapi nu year 2. I envy the people in the the places where the sun shines all the time.
Gemini said,
December 23, 2007 at 11:18 pm
@ ROBO….Dec payments for HW have not been posted as yet. They have posted up to the end of Nov. It will eventually reach. Appx 3 weeks late again.
robo said,
December 25, 2007 at 7:38 pm
Yes Gemini a my first interest suppose to come cross for the Dec. thats why i’m little bit worried.
ensley said,
December 25, 2007 at 11:00 pm
me past worried
me suicidal
W. Buffet Fan said,
December 26, 2007 at 1:31 am
Article worth reading:
http://en.wikipedia.org/wiki/Ponzi_scheme
tn said,
December 26, 2007 at 11:25 am
Good One W. Buffet Fan
Gemini said,
December 26, 2007 at 4:36 pm
I am not worried. My first return was due Nov 9th. It was lodged Dec 5th. They gave me option to collect cheque in office if I wished. They informed me as to where they reached with lodgements. Inconvenient …Yes ..naturally. But its better late than never.
POSITIVE said,
December 27, 2007 at 1:47 pm
Anyone knows much about offshore banking? If anyone has experience with an offshore bank for a while and dont mind sharing info,as address,website.
pat said,
December 27, 2007 at 4:32 pm
http://www.easy2earn.biz/?id=kemett. a cool way to earn
Gemini said,
December 27, 2007 at 7:21 pm
@ Pat…I think I will stay away from that one. I dont clearly see how exactly you earn. Explain please.
Juliet said,
December 28, 2007 at 10:08 am
Hi Bloggers,
I have been going through your posts. I reach up to 180. So far I have not heard much of a kind word from you guys to each other. You guys are just at each others throat. My goodness, stop it!!! We are suppose be trying to help out each other. You all know it takes to two to make a quarrel. I have done it before so I know. We will be approaching 2008 soon, so just relax and enjoy it.
We are all adults here. We are big enough to make our own decissions. Not to say we cannot ask for advise but in the end the final decision is up to us as individuals.
I am not gonna say that any of these investments are scam. I have been with Higgins Warner since June of this year and it has been going good for me. One of my payment was late when the whole bank thing started. However I watched and it turns out good. I am aware of the fact that others persons have not been getting their interests on time based on what I read so far. I jmust also admit based on my little research and check that the office here in mobay is not organise. The reps seems to be telling everyone a different story. My take is they are not really aware so they add a little. now that is not good. Mad business ethics I must add. Anyway, I have complain over and over both to them at the office and to Max Higgins himself. I had became so fed up that I dont even visit the office anymore. makes no sense to me. Now dont get me wrong.
I am going to give you all a scenario and allow you all to comment on it without any bias of course and tell me what you think.
Scenario:
Higgins Warner owed me referral fees. each time I ask the reps at the office, they told me they are trying to get back on track with interest payment. after waiting for them to get up to date with the payments nothing happen; So I decided to JUMP over their heads and go straight through Max Higgins. In less that 2 hours he responded asking me the amount and for my wire info. I sent it . he wire my money on the 16 and I got it on the 18. he did the same for my co-worker.
What do you all think is happening here. Mobay told me to wait and yet Max was ready and willing to pay, not interest payment but referral payment which is not even a must. Can you blame me to stop dealing with the office.
He even offered me a position after hearing my concerns. My resume was reviewed and now I am officially an agent.
Now, you guys, its does not mean that you should bombard me with everything at once. I have vision in mind and now given the apportunity I will try my best to see it through for anyone that I have already referred and for new prospects alike. Anyone out there who knows that they were referredby me, Yes Juliet Fray is the name. if you are having any problems collecting your interest or any concerns, please feel free to let me know. I will assist you in everyway I can. This will give me the apportunity to prove to myself what Max Higgins is really made of. So far I have no doubts, but you know its a little bit too soon to say.
If anyone would like to contact me: Best to send the email to: juliet.fray@gmail.com
All the joy and prosperity for the new year.
peace
enelra said,
December 28, 2007 at 10:58 am
Joy I sent u an email & I’d luv ur response. U sound like someone who can help me in a big way cause I’ve not gotten a single cent from HW since November & its beginning to worry me
enelra said,
December 28, 2007 at 10:59 am
Oh I’m sorry I referred to u as joy & not Juliet. Pardon me. But help if u can pleaaaaaaase
Juliet said,
December 28, 2007 at 11:57 am
Enelra,
As soon as I receive a response from Max on how I should proceed, I will let you know. Best to email me though. I access my email more than the blog. So far I only receive two emails. I did not see a enelra. Maybe Enelra is not your real name. L.O.L. I’ll try and assist in everyway possible
maxie williams said,
December 28, 2007 at 2:37 pm
Heard about cash plus , want to give it a try , when cn i start ,
Michael said,
December 28, 2007 at 3:34 pm
Michael said,
December 28, 2007 at 3:25 pm
To all HW investors ,especially those whom received checks from the Mobay office in the past. What was the name of the bank on the check ???? Prior to joining I checked around and heard they had a huge account with NCB and another Bank in the US(which I have confirmed). My payments are current ,but I do feel for the others who have not been paid, I have friends with accounts opened in Ja and the US. The US account is funded and the Ja account which was usually on time is now two months behind.Another friend opened the account in Ja and requested the wires in her Miami account , she received one payment and is now owed two. All HW investors lets seek the truth .Why are some paid and some not paid.
Juliet said,
December 28, 2007 at 4:13 pm
Michael,
The truth is Mismanagement by the office here in Jamaica. I said it and Max says it. There is no secret to it. When I spoke to Max earlier today. he informed me that some persons are getting fired by the office. They put his business in a mess. They mess up the reputation of the company. The persons in the US who are getting paid are probably the ones Sam Wharmann (the agent there sign up) Sam keep a carefull tab on his people. Each agent have that responsibility as Max explained to me. The office here have a responsibility to keep tabs on all the investors that they do contracts for. They should have kept a carefull tab so to avoid payments been missed. Its not that hard. I just started as an Agent, and I already have my spreadsheets set up to monitor all investors interms of date and interest payments. Not Everyone can work under pressure. They do seems somewhat confuse by the office at times. Its good to know they are weeding out the bad weeds. I am a utilitarian (THE GREATEST GOOD FOR THE GREATEST NUMBER OF PEOPLE).
Hope this answers your question
Michael said,
December 28, 2007 at 5:21 pm
Hi Juliet,
You’r right about the connection to Sam, how sad is that when a company can’t operate in a uniform manner. On the issue of the bank account with NCB my friend who’s also in HW ,who recruted me heard from her JA source in October that HW had a huge account with NCB. Can you confirm if this was ever true. Did NCB mead HW does not have an account today or just plain never had an account with them. Notice the comment at # 277 , I know for a fact that an account exist. There’s a lot of skepticism and misinformation out there and I think if we can at least find out the truth about the NCB account this would say somthing about the credibility of the bank.
namm said,
December 28, 2007 at 8:01 pm
Its now final, cash plus has been told to stop doing business immediately by the FSC in Jamaica, lets see what happens from here
Aziza said,
December 28, 2007 at 9:38 pm
Namm….state what they said factually please. They didn’t tell them to stop doing business they said they should stop issuing securities. The securities that have already been issued are not affected. Let is all try to be more reponsible with our statements please.
namm said,
December 29, 2007 at 1:41 am
i hope you are right, i too have money with them,
W. Buffet Fan said,
December 29, 2007 at 12:23 pm
When payouts are not made from profits of an organization’s business activities, then it is a scam. Profits are the key to a business and the only thing that ultimately matters. Where does Cash Plus’ payout come from? It is a simple and fundamental question. From my review of the matter, I do not believe Cash Plus’ payouts come from profits and hence it is not a viable business and appears to be a scam. Anyone care to correct me on this?
LOVERBOY said,
December 29, 2007 at 12:25 pm
The various media have been featuring the issue as to whether or not the unregistered institutions (Olint, Cash Plus and others) have a right to exist.
The point raised against those unregistered is that they exercise an unfair advantage over the registered or established institutions, in that the former do not have to observe the legal conditions (e.g. disclosure, submission of accounts, audit and other restrictions) under which the latter institutions have to operate, and as a result the unregistered bodies are able to offer, at least initially, abnormally high rates of return on investments, which cannot be matched by the established (and handicapped?) institutions.
Further, that the people who invest in these unregistered companies and who were described as ’stupid and greedy’ by a leading bank will realise, to their loss, that such returns are unsustainable, except, of course, under conditions of money laundering. It is, therefore, necessary to consider as dispassionately as possible both sides of the coin: first, the position of the registered institution and second, the nature and appropriateness of the unregistered companies.
Store of value
In a normal situation money should be a store of value – not perfect but reasonably so. Factors such as inflation, interest rates should cancel out, leaving the value of a given sum of money, more or less stable. In other words, what one could buy with a given sum of money in 2000 should not be substantially different from what could be bought in 2007.
This should be the objective of monetary policy. This has not been the case in Jamaica over several decades. In 1969, our dollar was more than the U.S. dollar; today it takes over $70 (Jamaican) to buy one U.S. dollar.
The deleterious effect of this can be seen particularly in the case of pensioners. Take the case of a pensioner who received a lump sum of $400,000 in January 2003. Taking inflation at eight per cent per annum (less than actual) and income tax of 25 per cent, the financial position of the pensioner would diminish in five years from $400,000 to $263,633 in real terms. His income from his investment (assuming he deposited it at an established bank where the going rate is about eight per cent per annum on such a sum) would by the end of the five-year period be a paltry $15,818 or $1,318 a month (again in real terms) after taking the above-mentioned factors into account.
Other options
What are the other options open? Stocks, building societies, etc. There is hardly any difference, taking into account reliability, rate of return and such. The average citizens may not work this out mathematically, but they suffer the consequences nevertheless!
Hence, this is why Cash Plus, Olint, etc., are so popular. They fill a real need. People have become desperate and are, therefore, seeking short-term solutions whatever the risks! And all this is happening while the banks are making billions of dollars in profits every year.
Government has a duty to resolve the plight of the ordinary people by protecting, as far as it is reasonably possible, the value of their hard-earned savings. Pensioners who retired a decade or so ago are virtually starving today unless:
(a) They are being subsidised by their families/friends.
(b) They have other sources of income.
(c) Their pensions are constantly upgraded in line with inflation (hardly likely).
It is not overlooked that inflation has been reduced from double digits to single-digit levels. However, as already pointed out, an average inflation rate of eight per cent per annum over five years results in a loss of over 34 per cent in real terms. This is still unacceptable.
Our financial system reflects 19th-century thinking and attitudes – an undue reverence for the status quo and an inherent hostility towards change and the accommodation of newcomers.
The unregistered institution
These companies are not monolithic. There are differences among them. For instance, it is my understanding the Cash Plus operates in (or mostly in) local currency and guarantees a fixed return on investment. On the other hand, Olint operates only in foreign currency but offers no guaranteed return. In neither case has there been any public outcry against these companies.
However, the real problem lies as much in their success as in their failure, paradoxical as this may seem. If left alone, they are likely to spread and grow exponentially. What then would be the consequences regarding:
(a) Work attitude: Where would be the incentive to work, who would want to work at all?
(b) Savings/investment: Who would want to save or invest if money can be so easily earned?
(c) Governmental concerns: With so much money in people’s pockets how would consumption be curbed? What would be the effect on inflation?
Bring unregistered companies in
The conclusion therefore is that it is imperative and urgent that the unregistered companies be brought within the framework of an expanded and reformed financial system, under new legislation if necessary, and thereby controlled albeit with imagination and understanding and in the interest of the country as a whole. This would mean that these companies would be subject to professional audit, taxation and submission of accounts, among other things.
Chaos would result if they are just left alone to expand and expand until they eventually displace the existing socio-economic infrastructure without providing a suitable replacement.
But before any action is taken, a commission should be appointed to inquire into the workings of our financial systems and to make recommendations. This should encompass not only the possible inclusion of the unregistered institutions but also a review of the policies and practices of the existing banks with a view to rendering them more amenable to the interests of the people they serve.
In the end, Jamaica should have a financial system that is open and sympathetic to changing circumstances that is sound, vibrant and fair to all concerned.
The various media have been featuring the issue as to whether or not the unregistered institutions (Olint, Cash Plus and others) have a right to exist.
The point raised against those unregistered is that they exercise an unfair advantage over the registered or established institutions, in that the former do not have to observe the legal conditions (e.g. disclosure, submission of accounts, audit and other restrictions) under which the latter institutions have to operate, and as a result the unregistered bodies are able to offer, at least initially, abnormally high rates of return on investments, which cannot be matched by the established (and handicapped?) institutions.
Further, that the people who invest in these unregistered companies and who were described as ’stupid and greedy’ by a leading bank will realise, to their loss, that such returns are unsustainable, except, of course, under conditions of money laundering. It is, therefore, necessary to consider as dispassionately as possible both sides of the coin: first, the position of the registered institution and second, the nature and appropriateness of the unregistered companies.
Store of value
In a normal situation money should be a store of value – not perfect but reasonably so. Factors such as inflation, interest rates should cancel out, leaving the value of a given sum of money, more or less stable. In other words, what one could buy with a given sum of money in 2000 should not be substantially different from what could be bought in 2007.
This should be the objective of monetary policy. This has not been the case in Jamaica over several decades. In 1969, our dollar was more than the U.S. dollar; today it takes over $70 (Jamaican) to buy one U.S. dollar.
The deleterious effect of this can be seen particularly in the case of pensioners. Take the case of a pensioner who received a lump sum of $400,000 in January 2003. Taking inflation at eight per cent per annum (less than actual) and income tax of 25 per cent, the financial position of the pensioner would diminish in five years from $400,000 to $263,633 in real terms. His income from his investment (assuming he deposited it at an established bank where the going rate is about eight per cent per annum on such a sum) would by the end of the five-year period be a paltry $15,818 or $1,318 a month (again in real terms) after taking the above-mentioned factors into account.
Other options
What are the other options open? Stocks, building societies, etc. There is hardly any difference, taking into account reliability, rate of return and such. The average citizens may not work this out mathematically, but they suffer the consequences nevertheless!
Hence, this is why Cash Plus, Olint, etc., are so popular. They fill a real need. People have become desperate and are, therefore, seeking short-term solutions whatever the risks! And all this is happening while the banks are making billions of dollars in profits every year.
Government has a duty to resolve the plight of the ordinary people by protecting, as far as it is reasonably possible, the value of their hard-earned savings. Pensioners who retired a decade or so ago are virtually starving today unless:
(a) They are being subsidised by their families/friends.
(b) They have other sources of income.
(c) Their pensions are constantly upgraded in line with inflation (hardly likely).
It is not overlooked that inflation has been reduced from double digits to single-digit levels. However, as already pointed out, an average inflation rate of eight per cent per annum over five years results in a loss of over 34 per cent in real terms. This is still unacceptable.
Our financial system reflects 19th-century thinking and attitudes – an undue reverence for the status quo and an inherent hostility towards change and the accommodation of newcomers.
The unregistered institution
These companies are not monolithic. There are differences among them. For instance, it is my understanding the Cash Plus operates in (or mostly in) local currency and guarantees a fixed return on investment. On the other hand, Olint operates only in foreign currency but offers no guaranteed return. In neither case has there been any public outcry against these companies.
However, the real problem lies as much in their success as in their failure, paradoxical as this may seem. If left alone, they are likely to spread and grow exponentially. What then would be the consequences regarding:
(a) Work attitude: Where would be the incentive to work, who would want to work at all?
(b) Savings/investment: Who would want to save or invest if money can be so easily earned?
(c) Governmental concerns: With so much money in people’s pockets how would consumption be curbed? What would be the effect on inflation?
Bring unregistered companies in
The conclusion therefore is that it is imperative and urgent that the unregistered companies be brought within the framework of an expanded and reformed financial system, under new legislation if necessary, and thereby controlled albeit with imagination and understanding and in the interest of the country as a whole. This would mean that these companies would be subject to professional audit, taxation and submission of accounts, among other things.
Chaos would result if they are just left alone to expand and expand until they eventually displace the existing socio-economic infrastructure without providing a suitable replacement.
But before any action is taken, a commission should be appointed to inquire into the workings of our financial systems and to make recommendations. This should encompass not only the possible inclusion of the unregistered institutions but also a review of the policies and practices of the existing banks with a view to rendering them more amenable to the interests of the people they serve.
In the end, Jamaica should have a financial system that is open and sympathetic to changing circumstances that is sound, vibrant and fair to all concerned.
I am, etc.,
R.H. ALEXANDER
11 1/2 Temple Meads
Kingston 6
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Juliet said,
December 29, 2007 at 12:35 pm
Michael,
Someone told me once that their friend at NCB told her that HW account was loaded. at the time. They mean they are no longer there. HW moved their money to RBTT.
Juliet said,
December 29, 2007 at 12:39 pm
O.K Guys,
I am trying to get intouch with a Dionne Sinclair of Delaware. The matter is urgent. She need to contact me at juliet.fray@gmail.com
Mackster said,
December 29, 2007 at 2:58 pm
I am concerned about this hold they placed on cash plus.What does this mean? We lost our money or they have the opportunity to give us it back? If they are to get license how long would it take and how would it impact the clients? Anybody able to answer this for me. Thank you
Elizabeth said,
December 29, 2007 at 3:19 pm
Hey Guys,
What do you think is going to Cash Plus?
Aziza said,
December 29, 2007 at 7:36 pm
Everyone please try to get your hands on a gleaner in the morning. My sources say that C+ will be publishing some info that is pertinent to it’s members.
Elizabeth said,
December 30, 2007 at 9:07 am
So after reading the Gleaner. What do you think? Is that possible? To convert a business into a conglomorate? I really dont know? Also the present situation with the FSC……..I dont see that answered.
john said,
December 30, 2007 at 10:42 am
i am seeking investments but not sure if u have any copanies to recomend it would be apreciated
Rohan_GB said,
December 30, 2007 at 11:44 am
@366 Buffet Fan you are late with that stale news.
Rohan_GB said,
December 30, 2007 at 11:57 am
The FSC think they have the last say when infact the is the MPs have the last say. They make the law and and have concensous agreement to make amendments to facilitate new innovations. THe Directors remid me of U.S.
U.S..... said,
December 30, 2007 at 12:08 pm
Rohan_GB – You are an idiot. Seriously, why do you wish so hard for something that isn’t true….you must be in on the con. People that steal from the poor should go to jail.
U.S..... said,
December 31, 2007 at 1:52 am
If you give your money to a convicted con and fraud, then you are a greed d*mn fool. And if you encourage others to do the same so that you profit by it, then you are evil. Other than that, Happy New Year and invest wisely to grow your wealth.
Mr.Thomas said,
December 31, 2007 at 6:56 am
Well, If anyone is interested in only dealing with legit business groups. You should contact me. I am a member of a group that shows average people how save and invest funds offshore and possibly retire sooner than you think. We will show you how to minimize taxes,maximize returns, protect your assets,give you an outline of our million dollar business plan, and you will be invited to our annual conferences with live speakers that tell you about investments average people don’t have access to. We will even show you how to set-up an offshore business. What’s so good about investing offshore? If you don’t know contact me and I will show you how to maximize your returns. What would you do if you knew that there was a bank that offered certificate deposits that collect 1%-2.5% monthly, Managed Accounts with registered brokers with your name on the account that collect anywhere from 18%-42% monthly, offshore real estate investments that double or even triple your returns in a year,etc….Why should I obtain a second passport? Why should I get a dual citizenship? All these questions will be answered an you will be amazed at the reasons. Do you know someone is looking at your bank statements besides you as I am typing this, someone knows when you transfer funds and to who and what they even do with them. Learn to protect your privacy and assets.
Mr.Thomas said,
December 31, 2007 at 6:59 am
If you are interested in joining my wealth group please don’t hesitate to send an email to CThomas_osms@yahoo.com
AR said,
December 31, 2007 at 9:13 am
CASH PLUS = stealing poor Jamaican hard earned undevalued money.
IT’s about to be a riot.
sorry for di ppl dat get tricked into this GET RICH QUICK Scam.
AR said,
December 31, 2007 at 9:32 am
Jamaican Need to think long term , and if they thought long term they would put money in the bank as our dollar will devalue due to borrowing more from the IMF (make sense). All the interest in the would wont help the standard of living in Ja. The standard of living in Jamaica is what ppl should realy be concerned with , not instant profit ( what will the money buy , probably a beef patty for 250$) , jamaican need to think long term , and that is why so many of those poor souls will get bitten.
pray for the poor ppl in jamaica, cause u rememba di song ” poor ppl fed up” sing di rest.
out of many one people.
Annt said,
December 31, 2007 at 11:15 am
The fact is and it cannot be ignored, that the climate and economic condition of Jamaica is what fosters the growth of these investment schemes. If things were different, if people could actually live off their salaries, if illeteracy was not so high, if unemployment levels were lower, do you think that cash plus would have taken off like a kite the way it did.
But as is typical of the people with the power, they aply a topical cream to a festering wound and keep ignoring the root cause.
When the reality behind why people will gravitate towards alternative investments (not only greed) is addressed, then the demand will reduce as people can actually work and buy food.
If you do a survey on the # of people who live (literally live off monthly amounts) you will be alarmed.
Now my challenge to the brilliant US and others, suggest to the government and the people of Jamaica ways to enhance the country.
Believe me you calling investors in Cash plus idiots is not helping our nation, it is an indication of how hard the economy has become. It is way easier to sit in the seat of the opposition and criticize, come up with solutions. Otherwise, as one investment fails another will rise and the cycle will forever continue.
U.S.... said,
December 31, 2007 at 11:45 am
Thanks for the post Annt. Personally, I have helped out Jamaica and its business climate. I called Rohan_GB an idiot because he is, wasn’t implying all Cash Plus investors, just Rohan_GB who keeps puffing it up and claiming he is some smart university student…..so he isn’t the illiterate poor that his actions are helping to steal from.
Rohan_GB said,
December 31, 2007 at 12:46 pm
U.S is such a liar and so boastful. Tell me one charity that you set up in Jamaica or tell me what way you help out in Jamaica. You can say anything from behind the computer and big up youself. Can you believe that some places in Jamaica do not have running water or electricity? Most Jamaicans work hard and still below the poverty line. When will I see people have the basic human rights which was set out in the conventions.
Every every new developments are shot down by key players like U.S and his cronies. They hate competitions in Jamaica trust mi. HYIs was not the only innovations get fight by the banks but the other money brokers got pushed over by the banks as well.
I am not getting personal with you but you must tell the people the truth. How can you say these companies are scam when you do not have any substantial evidence. There are so many forex trader are they scams too. I know that these companies might not get the required licence because people like use is gonna turn them down. Its the same people who have interest in the sector are the ones who decide who enter. Pure Politics. I am still contemplating wether to come back to Jamaica to live or just visit on vacation. The officials are still Victorian and the redtape start from the airport. I am not the only one who complain, over seas investors complain, the other governments complain returning residents complains. There is hadly or little progress for the poor and underclass.
Rohan_GB said,
December 31, 2007 at 12:48 pm
I wish Jamaica all the best for the Nu Year.
POSITIVE said,
December 31, 2007 at 1:32 pm
Happy New year guys, hope all can be more,positive, helpful, happy for each other and prosperous.
God Bless
Eve said,
December 31, 2007 at 2:06 pm
These type of Ponzi Schemes were also tried in the Jamaican community in the US back in the 1980s and 1990s as well. So, it is not necessary the climate in Jamaica that foster such events..its the lazy & greedy people themselves, who do not believe in the need for hard work as a means of getting ahead in life. They will get on any bandwagon related to get rich schemes. Intrincally, Jamaicans of all walks of life are predispose to these type of things. Most of these individuals DO realize that this is a Ponzi Scheme, however, as long as they make their money (at the expense of others), would care less. We should not feel sorry for them when the cards come tumbling down, as is the case now…they deserve it!
I am alarm that these same individuals would come onto forums like these and try to preach the advantages of such schemes. I think they should take the money they invest in these schemes and further their education, which appears to nonexistent at this point in time…DUMB!
nash said,
December 31, 2007 at 2:48 pm
Hi
Jcan & Patricia
Have been following your blogs. very insightful information. i am currently invested in C+ ( waiting for the results) & WB & Associates. Can either of yu give mi a refferal for Olint. or some links as tu how tu get in.
email me at, natjohnn@gmail.com
more time
Gemini said,
December 31, 2007 at 9:00 pm
@ Eve…..Logging on to this Forum and insulting individuals who choose to invest in an alternative investment scheme is not beneficial to anyone. You are advising them that they should have used the funds they invested to further their education, yet your grammar is embarrasingly poor !
Tell me something – If an individual earn via FX Trading is he/she greedy and lazy also ? I know many well educated individuals who are employed and earn additional income doing that in their spare time. If an organization such as Olint can use 20% of my funds for FX Trading and offer me 10% monthly, am I being lazy/greedy if I personally choose to risk some of my own money to invest with them ?
I endorse the need for transparency etc so that individuals can make informed investment decisions. Life itself is a risk. If someone choose to invest with C+ or any other alternative investment scheme he/she should be aware of the risks involved and should be smart enough not to dump their entire life savings into them.
No C+ investor need your sympathy. The organization is restructuring its operations over the next 3 months in order to be compliant. The cards have not tumbled down as you and many others would like to see.
U.S...... said,
January 1, 2008 at 12:36 am
Bravo Eve…great post. It is disheartening to hear that people go in these schemes knowing that people will get hurt and they don’t care. In order for Jamaica to move forward in a positive way, Jamaicans need to look after each other more.
Aziza said,
January 1, 2008 at 12:39 pm
Happy New Year to all! May 2008 bring you and yours health, happiness, prosperity and wisdom!
U.S.... said,
January 1, 2008 at 2:31 pm
Been watching “American Greed” on CNBC…….just like Cash Plus. You pay high initial returns, word gets out, “restrict” who can participate and let the feeding frenzy begin as people beg to give their money to the ponzi scheme. Then massage the people who are skeptical to make the ponzi scheme go crazy. Then take the money and flee. How about making the principals of Cash Plus stay on the island until all of this is sorted out?????? I GUARANTEE THEY WILL FLEE….WHICH IS ALREADY IN OFF SHORE ACCOUNTS!!! Classic Ponzi Scheme – there is no business, no products, no sales (except high profile “fronts”) nothing but money is shifting from on investor to the next.
U.S..... said,
January 1, 2008 at 4:19 pm
http://www.aarp.org/money/wise_consumer/investment_fraud/ponzi_schemes.html
U.S..... said,
January 1, 2008 at 4:25 pm
http://home.nycap.rr.com/useless/ponzi/
U.S..... said,
January 1, 2008 at 4:29 pm
Double Your Money in 90 Days.
Have I got a deal for you! I can double your money in just ninety days, guaranteed.
Nonsense, you say!
What? You don’t trust me? I promise you that it can be done. A man named Charles Ponzi delivered on such on such a promise back in 1920.
Now, I know what you are thinking. This has to be some type of scam. Well, I would be lying if I said that it wasn’t. (Put your money back in the bank. You’re not getting rich this week.)
How it all started.
Carlo “Charles” Ponzi was born in Parma, Italy 1882 and then emigrated to the United States in November of 1903. Over the next fourteen years, Ponzi wandered from city to city and from job to job. He worked as a dishwasher, waiter, store clerk, and even as an Italian interpreter. In 1917, he settled back into Boston where he took a job typing and answering foreign mail. It was here in Boston on that fateful day in August of 1919 that Ponzi discovered the mechanism to make both him and his investors very wealthy.
At the time, Ponzi was considering issuing an export magazine. He had written a letter about the proposed publication to a gentleman in Spain, and when Ponzi received his reply, the man had included an international postal reply coupon. The idea behind this enclosure was quite simple. Ponzi was to take the coupon to his local post office and exchange it for American postage stamps. He would then use those American stamps to send the magazine to Spain.
Ponzi noticed that the postal coupon had been purchased in Spain for about one cent in American funds. Yet, when he cashed it in, he was able to get six American one-cent stamps. Just think of the possibilities if you could do this. You could buy $100 worth of stamps in Spain and then cash them in for $600 worth of stamps in the United States. Then cash in or sell the stamps to a third party and you have, well, good old cash. You just can’t get this kind of interest in the bank.
Ponzi’s mind quickly went into overdrive and devised a clever scheme to capitalize on his idea. He was determined to be a rich man. His first step was to convert his American money into Italian lire (or any other currency where the exchange rate was favorable). Ponzi’s foreign agents would then use these funds to purchase international postal coupons in countries with weak economies. The stamp coupons were then exchanged back into a favorable foreign currency and finally back into American funds. He claimed that his net profit on all these transactions was in excess of 400%.
Was he really able to do this? The answer is a definite no. The red tape of dealing with the various postal organizations, coupled with the long delays in transferring currency, ate away at all Ponzi’s imagined profits.
Things got just a bit out of hand…
A failed scheme couldn’t keep Ponzi from bragging about his great idea. Friends and family members easily understood what he was saying and they wanted in on the investment. And, lets face it, if you flash money in someone’s face, they are bound to take it.
On December 26, 1919, Ponzi filed an application with the city clerk establishing his business as The Security Exchange Company. He promised 50% interest in ninety days and the world wanted in on it. Yet, he claimed to be able to deliver on his promise in just forty-five days. This, of course, translates into being able to double your money in just ninety days.
Word spread very quickly about Ponzi’s great idea and within a few short months the lines outside the door of his School Street office began to grow. Thousands of people purchased Ponzi promissory notes at values ranging from $10 to $50,000. The average investment was estimated to be about $300. (That was a big chunk of pocket change in those days.)
You are probably sitting there puzzled. Why would so many people invest in a scheme that didn’t work? The real reason was that the early investors did see the great returns on their money. Ponzi used the money from later investors to pay off his earlier obligations. It was a new twist on the age-old pyramid scheme.
With an estimated income of $1,000,000 per week at the height of his scheme, his newly hired staff couldn’t take the money in fast enough. They were literally filling all of the desk drawers, wastepaper baskets, and closets in the office with investor’s cash. Branch offices opened and copycat schemes popped up across New England.
By the summer of 1920, Ponzi had taken in millions and started living the life of a very rich man. Ponzi dressed in the finest of suits, had dozens of gold-handled canes, showered his wife in fine jewels, and purchased a twenty-room Lexington mansion.
The Crash
Any get rich scheme is certain to attract the attention of the law, and Ponzi was no exception. From the start, federal, state, and local authorities investigated him. Yet, no one could pin Ponzi with a single charge of wrongdoing. Ponzi had managed to pay off all of his notes in the promised forty-five days and, since everyone was happy to get their earnings, not a single complaint had ever been filed.
On July 26, 1920, Ponzi’s house of cards began to collapse. The Boston Post headlined a story on the front page questioning the legitimacy of Ponzi’s scheme. Later that day, the District somehow convinced to suspend taking in new investments until an auditor examined his books. (Why anyone who was doing something so highly illegal would let auditors examine his books is beyond me.)
Within hours, crowds of people lined up outside Ponzi’s door demanding that they get their investment back. Ponzi obliged and assured the public that his organization was financially stable and that he could meet all obligations. He returned the money to those that requested it. By the end of the first day, he had settled nearly 1000 claims with the panicked crowd.
By continuing to meet all of his obligations, the angry masses began to dwindle and public support swelled. Crowds followed Ponzi’s every move. He was urged by many to enter politics and was hailed as a hero. Loud cheers and applause were coupled with people eager to touch his hand and assure him of their confidence.
And Ponzi continued to dream. He had planned to establish a new type of bank where the profits would be split equally between the shareholders and the depositors. He also planned to reopen his company under a new name, the Charles Ponzi Company, whose main purpose was to invest in major industries around the world. (Apparently, no one ever told Ponzi that the key to any successful swindle was to take the money and run.)
The public continued to support him until August 10, 1920. On this date, the auditors, banks, and newspapers declared that Ponzi was definitely bankrupt. Two days later, Ponzi confessed that he had a criminal record, which just worsened his situation. In 1908, he had served twenty months in a Canadian prison on forgery charges related to a similar high-interest scheme that he had participated in there. This was followed in 1910 by an additional two-year sentence in Atlanta, Georgia for smuggling five Italians over the Canadian border into the United States.
On August 13th, Ponzi was finally arrested by federal authorities and released on $25,000 bond. Just moments later he was rearrested by Massachusetts authorities and re-released on an additional $25,000 bond.
In the end…
The whole thing turned into one gigantic mess. There were federal and state civil and criminal trials, bankruptcy hearings, suits against Ponzi, suits filed by Ponzi, and the ultimate closing of five different banks.
Of course, we cannot forget the problem of trying to settle Ponzi’s accounts in an attempt to return all of the people’s investments.
An estimated 40,000 people had entrusted an estimated fifteen million dollars (about $140 million in U.S. funds today) in Ponzi’s scheme. A final audit of his books concluded that he had taken in enough funds to buy approximately 180,000,000 postal coupons, of which they could only actually confirm the purchase of two.
Ponzi’s only legitimate source of income was $45 that he received as a dividend of five shares of telephone stock. His total assets came to $1,593,834.12, which didn’t come close to paying off the outstanding debt. It took about eight years, but note holders were able to have an estimated thirty-seven percent of their investment returned in installments. In other words, many people lost big time.
Ultimately, Ponzi was sentenced to five years in federal prison for using the mails to defraud. After three and one-half years in prison, Ponzi was sentenced to additional seven to nine years by Massachusetts’s authorities. He was released on $14,000 bond pending an appeal and disappeared about one-month later.
Where did he go? Did he leave the country? Did he just vanish off of the face of the Earth? No one was really sure.
No, he turned up a short time later in the great state of Florida. Under the assumed name of Charles Borelli, Ponzi was involved in a pyramid (big surprise, huh?) land scheme. He was purchasing land at $16 an acre, subdividing it into twenty-three lots, and selling each lot off at $10 a piece. He promised all investors that their initial $10 investment would translate into $5,300,000 in just two years. Wow!!! Too bad much of that much of the land was underwater and absolutely worthless.
Ponzi was indicted for fraud and sentenced to one year in a Florida prison. Once again, he jumped bail on June 3, 1926 and ran off to Texas. He hopped a freighter headed for Italy, but was captured on June 28th in a New Orleans port. On June 30th he sent a telegram to President Calvin Coolidge asking to be deported. Ponzi’s request was denied and he was sent back to Boston to complete his jail term. After seven years, Ponzi was released on good behavior and deported to Italy on October 7, 1934. Believe it or not, even after all of his swindling, he still had many fans that were there to give him a rousing sendoff.
Back in Rome, Ponzi became an English translator. Mussolini then offered him a position with Italy’s new airline and he served as the Rio de Janeiro branch manager from 1939-1942. Ponzi discovered that several airline officials were using the carrier to smuggle currency and Ponzi wanted a cut. When they refused to include him, he tipped off the Brazilian government. The Second World War brought about the airline’s failure and Ponzi soon found himself unemployed.
Once again, he wandered from job to job. He tried running a Rio lodge, but that failed. He then alternated between earning a pittance providing English lessons and drawing from the Brazilian unemployment fund.
Ponzi died in January of 1949 in the charity ward of a Rio de Janeiro hospital. Somehow, the man who had gone from poverty to multi-millionaire and right back to poverty in a matter of six months had managed to save up $75 to cover the costs of his burial. He left behind an unfinished manuscript appropriately titled “The Fall of Mister Ponzi”. And what a rise and fall it was.
Useless? Useful? I’ll leave that for you to decide.
Not Crabinbarrel said,
January 1, 2008 at 7:11 pm
See: http://www.imf.org/external/pubs/ft/fandd/2000/03/jarvis.htm
Zunammie said,
January 2, 2008 at 10:30 am
HAPPY NEW YEAR ALL!
Rancid said,
January 2, 2008 at 4:46 pm
link up with other Cash Plus members in this tribe and find out the latests news and info being circulated… http://www.idletribes.com/cash … you have to join the tribe but over 140 of us there now…link wi and share what you know.
Rohan_GB said,
January 2, 2008 at 7:22 pm
I need to get into Olint so they can trade for me. I have no time to go on Forex. Can some one refer me.
ray said,
January 2, 2008 at 10:30 pm
Can anyone tell me the contact info. for Higgins Warner. It came on the News that there are no longer i Jamaica. Whats happening? it that it??
AR said,
January 3, 2008 at 7:52 am
here is what happened to it, dem a slowly more away wid di ppl dem money.
http://www.jamaica-gleaner.com/gleaner/20080103/lead/lead1.html
tn said,
January 3, 2008 at 8:01 am
Well, according to the News, them lock shop and pull out not to be reached. I sent an email and I hope it doesn’t bounce.
MARSHA said,
January 3, 2008 at 12:48 pm
Does anyone know what date CashPlus is going to start paying again?
POSITIVE said,
January 3, 2008 at 1:21 pm
I sent an email from yesterday, no reply !!! nuff disrespect
POSITIVE said,
January 3, 2008 at 1:22 pm
HW I mean
Elizabeth said,
January 3, 2008 at 1:33 pm
Positive there is an email sent out informing clients its the 11 Feb before any payments r made?
MARSHA said,
January 3, 2008 at 2:24 pm
I am in the US so I have limited information and rely heavily on this blog for update. I was told today that CashPlus is requesting 3 months to reorganize before they start paying again. Somebody please tell me it ain’t true! I need my money now.
Does anyone know if CashPlus say when they will start paying?
GreenP said,
January 3, 2008 at 2:40 pm
INVEST WITH INFORMATION
All investments include risks. Some carry high risks with high returns such as cash plus, FX trading, and the ponzi scheme by Max Higgins. Others are low risks with low returns such as savings accounts, government bonds and some mutual funds.
The key to any investment however is having enough information to take a CALCULATED risk. You need to ask the what, when, how, why, where and who questions and you need to get logical answers with enough rationale behind them.
The questions should tell you what kind of business you are investing in. What kind of products or services they are offering. What industry are they in. when did they start operating, when will you get back your returns, how do they make and deliver their products or services, how can they be reached, where are they located, who are the persons behind the business and what gave them the right to invest your money (experience, education, history of success and failures etc).
Remember that this is a relationship that you are starting. It could be short term or long term. Like all relationships you must know what you are getting into. People can lie, but if you ask enough questions, you will usually find the true answers.
When you meet a guy for the first time do you just jump into bed with him or do you search him out first? Even in a one night stand we do ask questions, however limited they may be. The more questions you ask the more you will discover. The more you discover, the better you are at making an informed decision and the more calculated your risk will be.
Now look at all the investment opportunities out there and the ones you have invested in, can you answer all of the above questions, honestly? Also, remember that we are what we do and what we do are the same things that our children will do. All prostitutes say that they will never encourage their girls to take up the profession. But what will stop them when the only person they look up to is the prostitute mom.
Children live what they see and we MUST be the best example for them to follow.
GreenP said,
January 3, 2008 at 2:42 pm
Marsha where in the US are you?
Elizabeth said,
January 3, 2008 at 2:49 pm
Dear Marsha
I know how you feel I was so need he interest from Higgins Warner……..But there is none………………
MARSHA said,
January 3, 2008 at 3:04 pm
I am in Florida & I need my money for Tution due next week! Is there any word from the CashPlus folks, are they making any announcements?. Heard that the doors are closed. Is this for real?.
GreenP said,
January 3, 2008 at 3:24 pm
Marsha, call me at 954 548 4677
Elizabeth said,
January 3, 2008 at 6:04 pm
Marsha.
I suggest you read the Gleaner and Observer online just to keep abreast. But I have heard persons r calling Cash Plus and getting answered.
Eve said,
January 3, 2008 at 8:15 pm
Masha, I don’t think Cash Plus is in any financial position to make payments to its so-call investors. They plan to turn all their “investors” into “Shareholders” First of all, due to his criminal background, there is no way in hell that the FSC would grant a Carlos Hill-led enterprise a license to trade securities. Now, based on the unaudited financial statements that they have recently published, their liabilities far exceed the assets. That is, they are in no position to pay dividends (what a shareholder gets). If you look at some of their assets, for example, the Hilton Kingston Hotel, one would question why an entity like Cash Plus would buy such a hotel. I have not seen the financials on the Hilton Hotel, but having stayed their about four times a year, it is clear that the hotel is a money pit. Most of the time that I have stayed there(at various time of the year), the Hotel is virtually empty. It has gone through at least 3 or 4 ownership changes over the years.
Also, Cash Plus Megafone went out of business recently due to the fact that they were not paying their bills. Additionally, their sponsorship of the football league is in trouble, as they are behind on payments to the league. Their foray into the cambio business was cut short by BoJ back in October of 2006. The list of pending troubles continues to roll…Now they are asking the investors to wait 3-months for them to change their investor’s status to shareholders, something their investors did not sign-up for. It seems to me that they are just buying time, since it is inevitable that Cash Plus will collapse within the next 6-months!
Now I ask “Gemini”, given these signs, you do not see problems ahead or is your head so far up…., for you to see anything! Maybe you are going through the denial-phase, given the fact that your investment is about to evaporate. The fact is you guys invested with a know criminal, one with a rich history of creating Ponzi Schemes in the US and the fact that he could no longer perpetrate these type of fraud in the US, he elected to return (or was he deported?) to Jamaica to further is criminal enterprise on unsophisticated individuals, such as Gemini.
What I cannot understand is why would individuals put their hard earn money into a system or organization without the proper research of what they are getting into or who are the major players of these organization. Mr. Hill claims he is running a conglomerate, yet he has no background running anything other that what is has been convicted of..Ponzi Schemes. He has no core competencies as it relates to running a legitimate business. If you look at the vast array of companies that Mr. Hill have formed, they are in such divergent fields, with little or no synergies between them, you are left to wonder if he knows what he is doing or is just driven by ego. His organization reminds of another entity, Eagle Group that collapse in 1997 (taken over by FINSAC). The difference is, Eagle was run by a very capable individual, Dr. Paul Chen-Young and the financial crisis that shocked Jamaica at that time, was the major reason for its demise.
dean said,
January 3, 2008 at 8:16 pm
There is no company her in the states anywhere that can give you that kind of return that these companies promise, if it were so the rich white guys would have already been on it. These sound like ponzi pyramid schemes to me, i dont know what to tell you all now cause if everybody want their money at the same time down goes the scheme. There is no such thing as getting rich quick and these guys tek jamaica people for clown.
POSITIVE said,
January 3, 2008 at 8:20 pm
Elizabeth, HW now pushed that date to February. SURPRISE !!!!!
That is my concern !!! They do not stick to anything they say.I can only hope for the best
Elizabeth said,
January 4, 2008 at 8:26 am
Positive I was shocked yesterday I was told the first week in Jan about 2 days ago and now I heard about Feb yesterday.
Rohan_GB said,
January 4, 2008 at 11:44 am
http://cashplusinvestment.com/comments/all-comments/
You lot can get more info here. Basically is the same discussion but very informative.
Gemini said,
January 4, 2008 at 2:18 pm
@ EVE…Yap Yap Yap..Yadda Yadda Yadda…Empty barrels tend to make the most noise. I have made back all my C+ investment and more. Not worried re any loss. Every one thinks his only investment is ” Hilton Hotel”. Eve is so sophisticated yet she still cant construct a proper sentence. Wont waste any time with her.
MAGGIE said,
January 4, 2008 at 2:27 pm
I noticed that no one answered if they heard when CashPlus will be paying
agian. I have US$10,000 invested and am not getting any answers from CashPlus. Does anyone know even if they are still open?.
ensley said,
January 4, 2008 at 10:40 pm
no dem lock
VGR2100 said,
January 4, 2008 at 10:57 pm
I thought you might find interesting and hopeful the latest news below from Radio Jamaica:
Prime Minister calls for plan to address unregistered investment clubs PDF Print
Friday, 04 January 2008
Image The Prime Minister has called for the Ministry of Finance to have discussions with Attorney General Dorothy Lightbourne about recommendations to address the growing numbers in unregistered investment clubs.
The instruction was given by Prime Minister Bruce Golding Friday morning.
Mr. Golding has stipulated that the Finance minister Audley Shaw, Minister without portfolio, Don Wheby and representatives from the Financial Services Commission meet with Mrs. Lightbourne and come up with guidelines on the way forward.
The ministers are to examine any deficiencies in the existing regulatory process.
A report on the matter is to be presented to the Prime Minister by Monday.
Mr. Golding says the priority is to protect the country’s financial system and establish legislation for dealing with other upcoming investment schemes.
Last week the Financial Services Commission issued a cease and desist order on the investment Club Cash Plus limited.
The commission said that the order was issued after investigations revealed that the company was in breach of the securities act.
And on Wednesday scores of persons who invested with Higgins Investments in Montego Bay were shocked when they turned up to find the company’s doors closed.
Winston said,
January 5, 2008 at 1:19 pm
Maggie,
CashPlus has a cease and desist order, which does not allow them to make nay payments or accept any deposits. This ONLY affect the financial arm of the company.
Remember Cash Plus is a group of companies, so it is still business as usual for that part of the compant that is not involved in taking loans and making payments.
Hope that clarifies the point.
CashPlus cannot make any payments until the are regulated by the FSC, which does not seem likely to ever happen based on FSC own rules.
This will be rather interesting.
Gemini said,
January 5, 2008 at 1:20 pm
@ MAGGIE……………..http://cashplusinvestment.com/features/cease-and-desist-for-cash-plus/
Eve said,
January 6, 2008 at 6:41 am
Why the sudden drop in “chatter” on this blog? Is it that all the Cash Plus Investors (or suckers?) has suddenly seen the light of doom? See the Jamaica Observer article (Letter to the Editor) below from a desperate Cash Plus Investor. I think this letter speaks volumes about the predicament facing Cash Plus supporters!
What is the difference between a Cash Plus Investor and a Jamaican Extortionist (or burglar)?
Taken from the Sunday’s Edition of Jamaica Observer (1/6/2008)
Cash Plus, please don’t leave me cashless
Sunday, January 06, 2008
Dear Editor,
This is an open letter to Cash Plus Limited.
I am a member of your investment club since October 2007. I, like many others, was elated and welcomed this alternative investment as I saw it as a way out of a continuous financial rut, which a lot of us appear to be stuck in for far too long. As long as I had life, 2008 would have been my year.
I am very concerned and disappointed with all the attention (be it negative or otherwise) that Cash Plus has attracted since I joined. Thanks, or no thanks, to the media, banks and the Financial Services Commission people are now contemplating pulling out of the scheme (we are humans), as you are very much aware.
I do hope and trust that you, unlike others, will not pull out and leave us CA$HLESS.
My suggestion with regard to the current dilemma you face is this: whatever it will take in the very shortest possible timeframe to get Cash Plus regularised, please do so. Since you are deemed unfit and improper, it would be wise to have a few of your very trusted directors apply for the necessary licence. You would very much still be in the ‘big picture’ as a major shareholder; and if it also means asking for another three months from the investors to get back on track, so be it.
This may now mean that the government will want their share of the pie via taxation, therefore the interest being offered to us, as expected, will be reduced. However, I do believe that whatever interest Cash Plus will subsequently offer its clients will still be worth one’s investment, as the banks and other licensed financial institutions do not and will not offer this to their loyal customers. Cash Plus, if you are genuine and stay the course and have continuous constructive communication with your investors then I, like many others, will stay the course. We need some assurances/guarantees, not what you think will appease the masses.
Frankly, your idea of converting investment(s) to shares in your conglomerate does not sit well with me. This is not why I was on board. My investment will make me feel like a small fish amongst the whale(s), that is, my investment of $100,000 compared to many who invested $500,000 and upwards, converted to shares, will not be worth a dime when your conglomerate makes a profit. and when will that be?
Rosemary Jarrette
janicejar@yahoo.com
VGR2100 said,
January 7, 2008 at 10:32 am
1) Eve, Stop seeking to mislead.
Cash Plus’ predicament is not of its own doing, but in fact is the doing of the deficient Brian Wynter and George Roper’s FSC, the banks, Gleaner, and Observer.
2) Consequently, the police has warned the FSC to increase security at all its locations following word that the ordinary Jamaican people plan on picketing the Brian Wynter and George Roper’s deficient FSC, the banks, Gleaner, and Observer, as the ordinary Jamaican people want the government to allow Cash Plus to continue operations.
3) Attend and peruse the http://www.fscjamaica.org web site after you attend and peruse the http://www.sec.gov website, then compare and see for yourselves the regulatory deficiencies of the Brian Wynter and George Roper’s FSC.
4) Rosemary Jarrette, You are so correct when you said in part:
“…My investment will make me feel like a small fish amongst the whale(s), that is, my investment of $100,000 compared to many who invested $500,000 and upwards, converted to shares, will not be worth a dime when your conglomerate makes a profit…”
5) Eve, the Brian Wynter and George Roper’s deficient FSC, the banks, Gleaner and the Observer would like to continue to mislead the ordinary Jamaican people for the rest of their lives, into not making their own choice of risking and saving/investing in high-yield investment clubs in seeking to better their own lives.
6) The below article makes it very clear that the rich do not care whether or not the poor seek to better their own lives or not, because whether or not the poor do or don’t better their lives, the rich will continue to get money from the poor, who are defined by the below World Bank’s report as follows:
“World’s Largest Untapped Consumer Segment:
With a monthly income varying from $63 and $700, many of them use “branded shampoos and detergents regularly, and they sometimes indulge in a bar of chocolate or bottle of perfume. A good number own televisions, refrigerators, and DVD players.”
Known as the “next billion,” these consumers – who spend over $1 trillion a year – can’t “afford to make mistakes” and will “carefully compare [products] functional, technical, and emotional benefits.”
BCG has five tips for companies on how to reach this group….”
Adapted from:
http://psdblog.worldbank.org/psdblog/2007/12/the-largest-unt.html:
7) Conclusion: Having researched rigorously the business of the industrial model (since 1975), mutual fund model, unit trust model (since 1975), the (alternative) investment clubs model (since 1997), and the (alternative) hedge fund model and (alternative) private equity model (since 2003), I now know that the “Investment Clubs” model is the ordinary Jamaican people’s capitalist / high-risk high-yield way forward to address and alleviate the “big man versus small man tension” in Jamaica and to alleviate the “underclass” status quo that others have sought to maintain in Jamaica long before the Morant Bay Rebellion.
U.S.... said,
January 7, 2008 at 1:59 pm
VGR2100 – You too are an idiot. Cash Plus had no real business activity to generate profits, let alone income. Cash Plus was bankrupt from the start because it is not actually a business but a Ponzi Scheme. Wake up. There is no conspiracy against poor people…other than your own stupidity. YOU are the one that brings down poor people by keeping them poor with these stupid schemes. Get a life and get an education. Seriously, you must be one of the stupidest people given the obviousness of the scam.
Aziza said,
January 7, 2008 at 4:07 pm
VGR2100…
Don’t mind US is just a crazy guy who runs around talking all kinds of mess. I agree with you 100%. Kudos for you for realizing what is going on here.
U.S..... said,
January 7, 2008 at 5:41 pm
Aziza – I guess that makes you an even bigger idiot. Name ONE thing Cash Plus actually did that made ANY profit whatsoever…and prove it. It was ALL a con game, duh. You people obviously have no idea how businesses work. Cash Plus was NOT a high risk investment, it simply was NOT an investment, it was a ponzi scheme which does nothing except steal from the poor.
Aziza said,
January 7, 2008 at 6:15 pm
I am not even going to comment on your post “U.S.”
All the blessings of God to you and yours.
No sarcasm. I mean that from my heart.
sixto22001_JA said,
January 7, 2008 at 7:40 pm
Happy new years bloggers.
I hope this year will be all you dream of and more and that all your dreams will be realized.
I can see the blog is still full of none progressive bad minded people.
I wont waste my time even attempting to change the way some of us here thinkbecause it clear there are some persons here with one track mind.
To all the positive people i say power to you and to all the mentally weak i say take heart and learn to be strong.
Cash plus is not dead and will not die anytime soon so i know some poeple heart will burn when they actually realize this.
Bloggers it’s always wise to spread your investments to ensure proper growth and stability. This is the start of a new year and i will challenge all well thinking indivuals here to share ideas which will help the average person here to make their life as an investor more productive.
No negatives please
Much said
peace n joy
spartan said,
January 8, 2008 at 1:39 pm
happy new year,
I want to say that U.S. is a little aggressive and condescending, i left this forum for a while and i decided to pop in again. I understand that a lot of people are supporting the clause that the FSC is the sole conglamorate to blame for cash plus and higgins warners’ situations. A few people mainly U.S. believe that Cash Plus and Higgins Warner were all out frauds from the beginning. I am not gonna state my take on the situation. however I am going to strongly encourage everyone who reads this blog to go to google and type in:
“Albania under the Shadow of the Pyramids by Carlos Elbirt”
read this arcticle, it will take 2 minutes maximum. . ..absorb it and let me know what you think. if you want more to read along these lines type in “Russia MMM”.
The governtment of Jamaica should have run a telecast highlighting these occurences in recent past that would have made it easier for patrons to make their decision regarding investing or not investing. I’m not saying that Cash Plus is a fraud and neither am i saying that they are legit. . I am saying that reading these excerpts will shed some light on the situation.
U.S. you should read it too, everybody take a read and let me know what you think. . .all the best. . .i wish everybody prosperity in 2008. .lets work together.
marta said,
January 8, 2008 at 3:42 pm
Cabinet supports FSC
Posted: 2008-01-08 15:24:19
Live Regular updates on Power 106
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Cabinet has supported the Financial Services Commission (FSC) in its drive to regulate unregistered financial schemes.
Minister without portfolio in the Finance Ministry, Don Wheby, said the FSC would continue to take action prescribed by law, to prevent entities from offering securities in breach of the Securities Act.
According to Mr. Wheby, the FSC will continue to issue cease and desist orders against unregistered entities.
He said the Financial Investigation Division (FID) would provide support by prosecuting entities, which are in breach of the regulations.
I GUESS THE GOVERNMENT IS IN ON THE CONSPIRACY TOO!!
marta said,
January 8, 2008 at 3:48 pm
IS IT POSSIBLE THAT SO MANY PEOPLE ARE WRONG ABOUT CASH PLUS ability to sustain their investment returns to their “lenders”? The FSC, investors, financial analysts and now the government? With the shambles the economy is in one would hope the government would be on the side of these schemes, UNLESS there is much more bad than good being provided!
marta said,
January 8, 2008 at 4:04 pm
WICKED article Spartan. Everyone should read it. to help here is the link http://www.worldbank.org/html/prddr/trans/so97/albania2.htm
Aziza said,
January 8, 2008 at 4:42 pm
Marta….
I hope you don’t mind but I have to ask. Which side of the fence are you on exactly? I see you posting on this blog about Ponzi schemes but then I see you on the Higgins Blog posting about rounding up a team to track him down and find out about your (and other people) money and don’t put this same article over there.
What’s up with that? I’m a little confused…. A curious mind wants to know.
marta said,
January 8, 2008 at 5:06 pm
Aziza I am on the side justice. My husband invested in HW against my wishes and judgment. Now he cannot get back our money. I am against all of these schemes to rob people of their money! Nothing that I have said or written is in support of any of them.
Aziza said,
January 8, 2008 at 5:39 pm
O.k. thank you for responding so quickly. I really hope you and the others locate Mr. Higgin and that he can provide some answers. Best of luck to you.
Eve said,
January 8, 2008 at 8:48 pm
“US”, I guess you have not realized that you are in hostile territory and what ever logic you employ, is futile on this blog! The majority of people that are posting comments on this blog ARE “lenders” to such entity as Cash Plus and HW. They know it’s a scam; however, as long as they can extract a lot more than they put in, before these schemes crash, they will be happy. Now for people like “US” to post anything to the contrary is only upsetting the apple cart and should be viewed with skepticism and ridicule. Why, because “negative” comments and facts will only alienate potential (new) “lenders”, the very backbone of these schemes. So “US”, no matter what you say on this blog you will not change the mindset of most the people that visit this site, since they want to continue to receive their 10 per cent per month. Now that the end is near, you will see the exponential increase in attacks, albeit, a bit late.
Frankly, I think Cash Plus, in all likelihood started out with good intentions. I came to this conclusion based on the fact that given Mr. Carlos Hill’s track record of fraud in the United States; he would have to be insane to believe that he could continue this pattern of fraud, with impunity, back in Jamaica. I do not think he has the luxury of flying back to the US to live, once the scam collapses. The mistakes Cash Plus made, were enticing their so call lenders with exorbitantly high interest rate (one, thats on the face of it, is unsustainable!); acquiring all these entities so quickly; purchasing assets with questionable cash flow potential (e.g., the Hilton Jamaica Hotel…a real loser of a entity); not having the right people to run the conglomerate; buying entities from such diverse industry, with very little synergy among them, which makes it difficult, if not impossible to get any economy of scale.
HW is another kettle of fish. It is not clear to me what they do to generate income.
VGR2100 said,
January 8, 2008 at 8:52 pm
1) It is quite obvious that blogger U.S. would never ever make a successful business owner. A successful business executive is a diplomat at speech. On the other hand, by his own words, U.S. demonstrates such an abusive and hostile personality that he would not be able to keep his employees or his customers. Hence, he would be a business failure, or he already is (owing to his demonstrated animosity and abusive nature).
2) Wilmot Perkins once lashed out at “dead wealth” of the rich in Jamaica when he was a Gleaner Columnist in the 1970s and/or the 1980s. When he was Prime Minister, Mr. Edward Seaga, tried to move the existing rich businessmen of Jamaica into the 21st century without much success, given their “wait and see” attitude. They all watched while he led with “Spring Plain” and “Agro 21”. They all watched while the “Informal Commercial Importers and Exporters” (ICIEs) earned foreign exchange. “Butch” Stewart and John Issa as well as the ICIEs were the only visible “movers and shakers” (people who make things happen”) (Hats off to them and the informal commercial importers and exporters).
3) Now, Cash Plus is a refreshing and hopeful departure from the “dead wealth” behaviour of the rich in Jamaica as shown below.
My continual, unrelenting research finally revealed today an article over the email address of susan.smith@gleanerjm.com in the Gleaner of past date. A portion of this article “mined” from the Gleaner is outlined below and reveals public knowledge to those who like to read details that the Cash Plus Group is comprised of more than (8) economic sectors’ “cash cows”, “stars”, and “leaders” which demonstrate why Cash Plus was able to pay 10 percent return for 5 years straight since 2002:
4) Lest readers of the Gleaner forget, here is a very informative outlined portion of the article published; again, lest it be forgotten by readers of the Gleaner:
“Created through a series of mergers, joint ventures, and acquisitions, the Cash Plus Group now operates:
Cash Plus Phone Card Centre Limited…distributor of prepaid calling cards for all local communication service providers through Gengeorge Limited and Caribbean Tone Limited;
Cash Plus Equities Limited;
Cash Plus Distribution Centre Limited…distributor of liquid petroleum gas; Cash Plus Lubricant; Cash Plus Money and Cash Plus Chemical Limited;
Cash Plus telecom Limited…operator of the mobile and wireless fixed services companies Megaphone Limited and Freepaid Limited;
Cash Plus Limited also operates:
Cash Plus Development Limited with its four subsidiaries:
Cash Plus realty Limited,
Cash Plus Construction Limited,
Cash Plus Hardware Limited,
Cash Plus Building Systems Limited.
Cash Plus Entertainment Limited operates three properties under the Executive Inn brand in Kingston, Montego Bay and St. Ann.
The event planning company Hillcrest Productions Limited; and
Carlitos Cafe Limited.
Dairy products wholesaler Cash Plus Commodities Limited which runs:
Cash Plus Foods,
Cash Plus Farms, and
Cash Plus Shipping Limited.
Cash Plus Shipping recently acquired two cargo ships, “Angel Pearl” and “Durga Maya” to move its cargo throughout the Caribbean Central America and North America.
Sovereign Security Services Limited;
Caymanas Off-Track Betting Limited;
Cash Plus Industries Limited, a motor vehicle dealership operating through Cash Plus Ventures Limited, and
Cash Plus Financial Consultant Limited
-susan.smith@gleanerjm.com
(PERSONAL NOTES:
1) With the acquisition of the two cargo ships, Cash Plus and Carlos Hill hereby remind me of the feats of Aristottle Onassis, the late billionaire shipping mogul who eventually married the late Jackie Kennedy)
2) When I started out working in the world of engineering, applied research, design-manufacturing, and representation of intellectual property/patent owners/operators/ manufacturing business enterprises of England and Scotland, Denmark, Sweden, Netherlands, Germany, Asia and Japan, Jamaica, Canada and the United States, and major financial institutions together with participation in risk management in these international foreign currencies markets, it was emphasized by my mentors (and later strategic partners) that adverse publicity can destroy a great and noble business.
3) That is the risk that Cash Plus has faced with the well orchestrated adverse publicity and negative rumor-mongering. The many articles reported of the FSC, and the banks via the Gleaner, Observer, Yahoo.com, and Google are there for those who want to read the details.
4) I bet you that should Cash Plus fail, watch and see how the above innovative and visionary companies of this Investment Club are going to be “gobbled” up by the “dead wealth” and “un-innovative”, their “hangers-ons”, “copy-cat” banks, and the politicians.
Then they will get the poor ordinary Jamaican people (“small man” trying to develop themselves to a better life) to work for them for “peanuts”, while they the “big man” pocket the (10) ten percent returns per month that Cash Plus Investment Club used to generate and return from the already mentioned companies to the poor ordinary Jamaican people each month for the last five years.
“Mark my words”.
Speak of unequal rights and injustice.
Downright concerned said,
January 8, 2008 at 11:24 pm
To: VGR2100
Declare your motive, are you in anyway affilliated with Cash Plus or are you so brainwashed that you cannot see the ship has sunk. Thank God for the “Cease and Desist” at least Cash Plus has another excuse why it can’t pay its client lenders.
You my friend should declare your motive of either spreading misinformation or spewing ignorance. I wish the agents of these “ponzi schemes” would utilize your concsience. Many persons are going to lose there homes, cars and former standard of living due to this ” freakshow” of a company.
Its over now, stop spreading nonsense. If persons want to throw their money into a garbage pan let that be their choice, but please do not encourage this madness to continue.
spartan said,
January 8, 2008 at 11:26 pm
Readers,
I guess no one read the article on Albania. . .good enough. . . .but I am SURE it will add some light. . .albeit maybe too late. . .i should have posted immediately when i read it three months ago before Cash plus got locked down.
Anyway, to a lot of people’s obvious disgust I wholeheartedly support the views of U.S. He knows what he is talking about his first post was in early november warning. But hey we all make mistakes.
Carlos Hill is a convicted fraud, was involved in a HUGE Ponzi scheme in America. And in the real world you dont have a convicted fraud artist who is banned from working in the financial field in America come to Jamaica and become the smartest financial Genius to ever live. No matter how much we want to believe that this is possible and is happening in Jamaica, its not, this man knew what he was doing and the Gov’t did not do enough to stop it. We need to find out what our course of recourse is after the inevitable happens.
1. Carlos Hill must not be allowed to leave Jamaica
2. If his conglamorate owns anything outright (100%, which i doubt) then the public would be able to share in the proceeds if any liquidation was to occur.
This is real this forum needs to IMMEDIATELY stop talking about Cash Plus being real and will reform and pay its clients!!! We need to realize that . . .o.k. . . .we are being robbed and we need to stop this and get back what we can and move on. You guys can think what you want of the banks because though i dont believe that they are trying to hold down the “poor” but i believe that they were happy when cash plus stopped taking in money because it was hurting their bottom line.
peace,
The Spartan has once again delivered the truth!
Downright concerned said,
January 9, 2008 at 12:17 am
Higgins Warner needs to repay its investors and stop sending ridiculous messages via email. Who is Sir Emile Max MIllian St. Patrick Higgins, is he a recluse billionaire, a “poor people saviour” or a downright scamp. If the previous two are true then pay back the investors money. But guys this is not going to happen, in a while you might here the Higgins Group moves to the moon where it is setting up its new headquarters.
What hurts me is US$5000.00 is alot of money to us Jamaicans and these investments are near to certain lost.
To the investors please seek to start over and rebuild and if the money is not paid over call the Argentinian and Emirates authorities about this scamster. Time will catch upon him.
Last I heard he was in Argentina setting up a Walt Disney Mundo SA, which of course was just him trying to perpetuate his old tricks. Search Higgins Warner Music and see which artiste he produces. None other than himself and the Max Higgins Band.
We Jamaicans must rebuild we did not learn much from the 1994 pyramid schemes. The sad thing is these “investment clubs” are much larger and have caught a larger set of unsuspecting persons.
marta said,
January 9, 2008 at 12:44 am
VCR
Do you know if any of those companies are more than paper work, has any income, made any profit or will ever make any? Anybody can form a company and even put money into it. The real question is whether the business can turn over such huge sums of revenue and profit to pay “lenders” 120% per year.
TO DOWNRIGHT
You are down right with your posts. Nobody knows what higgins is doing for business that is generating so much income. The “world football idol” should have finished from last November. It is now slated to finish in Dubai in March. But Higgins had big plans for people’s money from as far back as 2005 when he wanted to start a world wide fashion show. See link to Gleaner article at
http://www.jamaica-gleaner.com/gleaner/20050612/ent/ent1.html
This guy is no where near smith of Olint or Hill of Cash Plus. He is a low down dirty bastard who has scammed millions from ordinary Jamaicans.
U.S.... said,
January 9, 2008 at 1:39 am
I don’t mind the hate and the statements saying this or that from people who don’t know me….seems like wishful thinking. I thought that once people knew it was a scam they would make an honest assessment and see it for what it is. But no, some must have a vested interest and feel no guilt if they bring others in to be scammed … just as long as they profit instead. The principals of these “companies” need to be made to stay on the island and account for what they did. Mark my words, there will be blood in the streets over this……
To those who are putting hate on me, you would be shocked at who I am, who I know, and what I do (anonymously) for charity. But that is between me and God. I hope you can live with what you have done with encouraging others to lose their money….and their hope.
U.S.... said,
January 9, 2008 at 1:49 am
By the way, that Max Higgins MUST be mentally ill and delusional. Some sort of manic (possibly bipolar) sociopathic (narcissistic) personality disorder with delusions of grandeur. I’ve encountered people like that, they are delusional and are so convincing, but in the end it is just a manic delusion and they can never really follow through on anything….just grand ideas which are no well thought out and really never get achieved since they are on to their next “great idea”. They make for a perfect con man. So sad.
Downright concerned said,
January 9, 2008 at 6:21 am
Higgins up to his tricks. See link, I wonder if this investor will ever get back his US$42,500.
http://jamaica-gleaner.com/gleaner/20080109/lead/lead3.html
POSITIVE said,
January 9, 2008 at 7:57 am
All HW investors need to come together and form a plan B . If Feb. 11th comes and the money is not in the bank,he should not walk a free man. As I said before if I saw this blog before my money would not be with this man>!!!!This is the reason we need to continue being informative as Jamaicans and let each other know what is happening. Why do you think some of these clubs are so secretive? they are downright hiding something !!!!
Elizabeth said,
January 9, 2008 at 8:50 am
Positive let us pray and hope for the best.
Eve said,
January 9, 2008 at 9:19 am
To “US”, “Downright Concern”, “Spartan”, if you have notice, a lot of the people that was trumpeting these investing schemes, have suddenly disappear, with the exception of “VGR2100″. I must admit, “VGR2100″ is someone I would like working for my company as a salesman..he is one committed person! His claim of Cash Plus having a number of “cash cows” is amazing to say the least, this, despite C+ release of an unaudited financial statement which proves to the contrary (where is your unrelenting research). They release an unaudited Financial Statement, because no reputable accounting firm would sign this document, which leads me to believe that the document is painting a much brighter picture than reality. Additionally, the Financial Statement did not cover all their entities, nor did they release the required income statement/cash flow statements..WHY?
For individuals out there, like “VGR2100″, what do you know about “US”, for you to be making these scurrilous statements about the individual? My question to you and others would be, what are the motives behind “US” passion? He obviously does not have any of his money in these schemes, why should he care what people do with their money? Simple, like a lot of us living outside of Jamaica, we do care amount those individuals who can least afford to lose their meager savings. We certainly do not care one bit about someone who invested over US$40,000 in these schemes, since they evidently have such high sums to invest. People like “US” genuinely care about people and do not like to see innocent people been ripped off , even though they were driven by their own greed and the fact that they were caught up in the hysteria of the moment. We as Jamaican living abroad are equally as concern about the crime situation in our homeland. “US” could, like most people just sit back and laugh at these gullible individuals that descend on the C+ offices at the slightest hint that the scheme is about to collapse. We do see these images in the paper, what we see are average Jamaican citizens and for a lot of us, it brings tremendous pain to us. So, stop attacking “US”!!
Let me cite case that will hopefully shed some light on things. I have a college friend, who had a serious mental problem, shortly after leaving College. He convinced himself that he was Doctor and it reached to the point where he was going to hospitals in New York, dressed as a Doctor. They finally caught up with him and he was arrested and told to “cease and desist”. To make a long story short, he is now in Jamaica practicing medicine! Now this is an individual that have no medical training whatsoever (he is an Electrical Engineer by training). In fact, back in 2004, he had issued a sick leave certificate to one of the accused men that could be linked to the shooting death of another individual (see full article below).
http://www.jamaica-gleaner.com/gleaner/20040306/news/news1.html
I spoke to the so-call doctor this week after “googling” his name and he told me is he is or has opened other office in Clarendon. How, you might ask, does the Jamaican government allow this to happen and how many other so-call doctors are practicing medicine in Jamaica without the requisite license or training? Should I do or say anything? I’m I being “bad-minded” and not wanting the poor man to make a living? Should I contact the relevant authorities in Jamaica? Should care what this individual does? You be the judge.
Eve said,
January 9, 2008 at 9:38 am
For those of you that are HW clients, “Juliet” stated in an earlier post that she is an Agent of HW and apparently she has the personal phone number of for Max (see post #372 & #375). She can be reached at:
juliet.fray@gmail.com
Maybe she can start put those referral fees to work for you!
“…..He even offered me a position after hearing my concerns. My resume was reviewed and now I am officially an agent.
Now, you guys, its does not mean that you should bombard me with everything at once. I have vision in mind and now given the apportunity I will try my best to see it through for anyone that I have already referred and for new prospects alike. Anyone out there who knows that they were referredby me, Yes Juliet Fray is the name. if you are having any problems collecting your interest or any concerns, please feel free to let me know. I will assist you in everyway I can. This will give me the apportunity to prove to myself what Max Higgins is really made of. So far I have no doubts, but you know its a little bit too soon to say.
If anyone would like to contact me: Best to send the email to: juliet.fray@gmail.com ……”
POSITIVE said,
January 9, 2008 at 4:03 pm
Everyone in hiding, we have asked Juliet several times to come on the blog and no luck.I emailed her though and she said HW is still operating.
Sparkle said,
January 9, 2008 at 4:43 pm
I am surprised Juliet is hiding. I have emailed her and she has not responded. She had so much confidence in Max Higgins. If she is still communicating with him, why is she relunctant to share information with us.
marta said,
January 9, 2008 at 5:24 pm
I sent two emails to Juliet and no answer yet!!
POSITIVE. Send me the email again. It is not in my inbox
marta said,
January 9, 2008 at 5:33 pm
has anyone tried calling Kenrick Gilpin of Higgins Warner, the rep from Montego Bay? What is his response and is he in Jamaica or Miami? Thought I saw some news report that he was in Miami.
VGR2100 said,
January 9, 2008 at 6:05 pm
The ordinary Jamaican people must never forget the previous statement (as per ITEM 2 below) made by Don Wheby’s current boss of the Ministry of Finance when he was Bruce Golding’s Opposition Spokesman on Finance reported by the Gleaner dated January 31, 2007.
Whereas Don Wheby has strangely chosen not to confer with any of the Investment Clubs to get a “face-to-face” briefing as to their Policy Inputs and their existing Anti-Money Laundering Strategies, suffice it to say that the ordinary Jamaican people must never forget that politicians cannot be trusted not to use Government to wrongly confer only with the Jamaica Bankers Association, foreign multi-lateral agencies and the FSC (and not the Investment Clubs), to wrongly suppress entrepreneurial drive (of the Investment Clubs and the ordinary Jamaican people’s choice of high risk-taking/high-profit (or loss) in a free market economy) by using the power of the state, contrary to what they say in order to win the ordinary Jamaican people’s votes when he said the following reported last year January 31, 2007:
“In his remarks, the Opposition Spokesman on Finance, Audley Shaw, said the Financial Services Commission’s (FSC) actions against Olint, an entity which offers attractive interest rates, were unacceptable. He warned the Government not to suppress entrepreneurial drive by using the power of the state.
“Mr. Shaw contended that, in a free market economy, persons should be allowed to take risks and benefit from the gains or suffer the consequences of risk-taking actions.”
Here is the entire Gleaner report in its entirety:
Golding accuses Government of breaching Loan Act
published: Wednesday | January 31, 2007
Edmund Campbell, Senior News Coordinator
ITEM 1:
Opposition Leader Bruce Golding has accused the Government of breaching the $650 billion ceiling of the Loan Act.
The charge came yesterday, during a debate in the House of Representatives to increase the maximum amount that can be borrowed by the Government to $700 billion. The legislation was subsequently passed.
Mr. Golding argued that it was pointless having a law which sets the maximum amount to be borrowed while Government ignores the law. Further, he said Parliament “retroactively legitimised” the breach.
Mr. Golding told his colleagues that 75 per cent of the country’s debt was owed to commercial banks, both locally and overseas. He said these entities could not offer debt relief, similar to that provided by the multi-laterals. However, Dr. Davies made it clear that the Government was not seeking debt relief.
He said the Government was committed to honouring its debt obligations.
ITEM 2:
In his remarks, the Opposition Spokesman on Finance, Audley Shaw, said the Financial Services Commission’s (FSC) actions against Olint, an entity which offers attractive interest rates, were unacceptable. He warned the Government not to suppress entrepreneurial drive by using the power of the state.
Mr. Shaw contended that, in a free market economy, persons should be allowed to take risks and benefit from the gains or suffer the consequences of risk-taking actions.
Responding to Mr. Shaw’s comments, Dr. Davies said the FSC’s actions against Olint were consistent with the law.
*****
The FSC’s second in command, George Roper, said the ruling serves to establish more clearly precisely what constitutes an investment contract.
lavern.clarke@gleanerjm.com
POSITIVE said,
January 9, 2008 at 6:15 pm
Marta check your email
REFF said,
January 9, 2008 at 7:18 pm
Eve… is the crazy doctor you mentioned @ 468 (Dr. Gilpin) and HW Mobay agent Kenrick Gilpin one of the same.
Downright concerned said,
January 9, 2008 at 10:22 pm
Poor Juliet, she probably just wanted a job. It is saddening that the conmen like Higgins use these unsuspecting persons as cheerleaders while they tarnish their names.
These agents of Higgins and Cash Plus are probably the ones who got their interest every month to keep them disillusioned. But they are hiding as even they are left to worry about their investments.
US, Eve, Spartan and Marta. I hope you will keep championing the cause of the real victims. The retiree who is waiting for the check from Cash Plus to purchase groceries and the single mother who invested her lifesavings.
Downright said,
January 9, 2008 at 11:00 pm
Thanks Eve for the Gleaner linkto the June 12th 2005 crock of a plan by Sir Mad Crook Higgins that failed. See an excerpt of the fit for Bellevue talk
The ‘International Fashion Rock Show’, he says, will feature designers such as Donna ‘DKNY’ Karen, Ralph Lauren and Armani and will be attended by celebrities such as Lennox Lewis, NBC’s Katie Couric, Supermodel Tyra Banks and superstar celebrity Paris Hilton.
‘Rock stars’ Shaggy, Christina Aguilera and Ashanti are being considered as performers for the show.
“I’m in the process of trying to get them”, Max Higgins said. Up to press time the acts had not been confirmed, but Max Higgins says these will most likely be “last minute confirmations.”
End of excerpt
This man is obviously crazy. He has an obvious problem he can’t separate fantasy from reality. Shame on us for being fooled.
All we have to do is learn from our mistakes. Jim Jones, Bedward and other crazies do the same thing they appeal to your weaknesses.
marta said,
January 10, 2008 at 3:43 am
Wife sues Cash Plus boss for maintenance
http://jamaicaobserver.com/news/html/20080109T230000-0500_131239_OBS_WIFE_SUES_CASH_PLUS_BOSS_FOR_MAINTENANCE.asp
Downright said,
January 10, 2008 at 6:38 am
Marta thanks for the link. I hope investors follow suit and sue for their own contractual payments if March passes and no payments are made. The saga continues.
Have you noticed no actual date in March was given for resumption in payments. It is my belief that once this Cash Plus gentleman takes the plane investors will be deserted.
Downright said,
January 10, 2008 at 7:01 am
I really don’t think Carlos Hill’s intention was scam investors, I could be wrong. But he is now running a near insolvent company. The company cannot pay out its obligations unless new investors join to pay current investors and for this ponzi to continue there needs to be a steady growth in new investors.
This was not happening this year hence the financial difficulties. There will have to be a firesale of Cash Plus interest in several acquisitions. God bless the amount to be garnered from this firesale.
Cash plus however has put its investors as preference share holders on its balance sheet which simply means a current investor will be forced to own the company.
Lenders
This group is obligated to receive interest payments and principals.
Shareholders
This group is ownly obligated to receive on liquidation the excess of the companies assets over its liabilities.
Concluding
Once an investor becomes a shareholder of a failed company dog nyam him supper.
catasha said,
January 10, 2008 at 10:17 am
Has anyone seen the observer today? Is Mrs. Hill (wife of Carlos Hill) out of her cotton picking head mind. Well just in case you didn’t know this woman wants to sue her ex-husband for Jamaican people’s money. Is she more than a stalk raving mad money grabber or what ? Well he better know that before she get our money then there is going to be a riot in Jamaica. They can go settle their differences somewhere else and I hope this article is not just a scam for this man to leave our country and not come back. Did I mention that I have already claimed a room for myself at the hilton?
U.S.... said,
January 10, 2008 at 11:48 am
I am litterally floored at Downright’s statement that Carlos Hill didn’t mean to scam investors then goes on to explain that the ponzi needs more investors to keep going to that now there aren’t any new investors Hill is having trouble making payments. The problems ISN’T that new “investors” aren’t putting in money, the problem is that it was not a “real” business and was a scam.
Higgins is wacked in the head….. I think he is Bipolar I. I made that assessment after reading about the Disney Mundo thing and his response to the real Disney’s statement.
U.S.... said,
January 10, 2008 at 11:51 am
Also, you should know that there won’t be ANY money for people who gave money to Cash Plus. The debts exceed the assets…………and where are the account records to prove who gave money???? Good luck proving you were an “investor” of Cash Plus. My understanding is they didn’t issue any stock certificates …. anyone care to enlighten me on what they gave you as proof of “investment” such as a receipt. The bottom line is, when the dust clears, if you get 10% of your money back, you will be lucky. Your best hope is to not let these people leave the island.
U.S.... said,
January 10, 2008 at 1:12 pm
My other assessment will be that Max Higgins (or whatever “royal” name he will use during his entitlement delusions) will simply move on without any real regret to those he hurt financially. He will have no conscience for the suffering of others that he caused. In fact, he probably can not empathize with others and will blame everyone else for his business failures just like he came out with the rant on the real Disney Co. It is this delusional sense of entitlement and that he is “special” and knows things that others don’t (delusional thinking) that drives him to be the “star” on his own website (playing with a soccor ball while wearing a suit, and his weird poses). I wouldn’t put it past him to suddenly make a change whereby he is now a prince and a sheik. Will be interesting to watch how he gets more nutty.
marta said,
January 10, 2008 at 1:13 pm
CATASHA
I like your forward thinking on taking your room at the Hylton. (LOL)
Rohan_GB said,
January 10, 2008 at 4:46 pm
I still think Mr US and Mr Hill was partners before a deal went sour.
Rohan_GB said,
January 10, 2008 at 4:47 pm
How you find time to be here 24/7 and you running a company.
Rohan_GB said,
January 10, 2008 at 4:48 pm
At least you win over some people.
Rohan_GB said,
January 10, 2008 at 4:49 pm
I though you would take out a civil law suit on the bad guys.????????? Since you so passionate.
Rohan_GB said,
January 10, 2008 at 4:53 pm
Even if they get rid of them out of Jamaica, there are many many around the world…are you gonna ban them too.
by the way ‘there is room for amendment to the rules’
U.S..... said,
January 10, 2008 at 5:34 pm
Rohan_GB – Well, I normally wouldn’t say this, but since you are so nice to me….. I told you so. I hope you didn’t cause your friends and family to lose money too………………
Think&Check said,
January 10, 2008 at 6:20 pm
I’ve been reading this thread and I am just amazed at the kind of Wilfull BLINDNESS that seemingly intelligent people are exhibiting here!!!!
To go straight to the point, the talk about Cash+ being here to help poor people and Mr. Hill being some kind of messiah is totally rediculous. This organization is not charity – Mr. Hill is helping himself. This is a classic case of a Ponzi scheme and trying to curse ppl who point this own won’t change that.
Some have pointed out businesses that Cash + supposedly owns – where is the evidence? Has this been verified by any independent third party? Just take a look for example into the background of the owner of the Hilton Hotel – a former catholi priest with a criminal record (bird’s of a feather!!), who suddenly became wealthy in Canada, guess what he was convicted of, no, not wire fraud but I did say he was a catholic priest.
Back to Mr. Hill, how, after his conviction in the US for wire fraud and racketeering are people so willing to accept what he says without checking – wilfull blindness, they speak about his five years and people getting paid. But guess what, cash plus did not start with thousand of ppl, it started small & came to prominence about two years ago and grew with cheer leaders such as some on this thread. Once new money is coming in no problem but when cash flow problems start blame banks. Publish unaudited balance sheet at September 31 (this month has 30 days remember) showing lenders as preference share holders, blame the banks again.
More anon
Eve said,
January 10, 2008 at 6:46 pm
Catasha, I’m reading this issue with Mrs. Hill a little bit different than you. I think the US$12Mil she is asking for (probably) have to due with the millions he stole while inside the US, and probably concealed here in Jamaica and elsewhere. She should know where all that money went, since to my knowledge, he has not repaid the victims in the US.
Before you stake a claim in the Hilton, you should probably check who owns the hotel. I don’t think Mr. Hill fully consummated that deal yet!
I do not think Mr. Hill can go back to the US…It’s my opinion that the guy was deported or at the very best, he agreed to voluntary deportation. He was given 30-years in prison, how did he get out so soon? Let’s see if he shows up in New Jersey for his issues with his wife (I think they are still married).
Eve said,
January 10, 2008 at 7:04 pm
Reff:
“Eve… is the crazy doctor you mentioned @ 468 (Dr. Gilpin) and HW Mobay agent Kenrick Gilpin one of the same.”
No, they are different people. From what I have read, Mr. Kenrick Gilpin is no where to be found…can a HW investor let us know where he is hiding? The article I saw said he has left the island, but to where?
sixto22001_JA said,
January 10, 2008 at 8:06 pm
VGR2100 you have been doing a great job of keeping the truth about cash plus alive, Keep it up.
Todate there are reportedly over 23 investment clubs in jamaica, why is everyone debating on only two of these clubs? Why should any one of sound mind compare Higgins warner with Cash Plus group or Olint?
Out of bad comes good and even in the garbage you may still find something that can save your life. Alot of the comments here are post by people who sit and read articles in the news paper or on a site about these investment club.
Let me share some points with you Negative ones.
The Observer has been placing misleading comments in its articles not only about cash plus but other investment clubs and other news in general. Alot of persons do not see the politics going on since the gereal election of september 2007. I’m not saying that some of the points made be these bloggers are not true of some of the investment clubs but it’s surely not the truth about all.
Olint customers has been getting their money and still is, Higgins warner seems like a real scam, World wise customers has been getting their money, cash plus has been caught in the middle of a fight for fame and power between politicians and wealthy business men. Alot of other clubs are here that has been paying out money and others who are not paying but yet you hear nothing about them, why is this so?
Unless you are on the ground like i’m you are not suppose to come on this blog and make statement base on second hand information, this is misleading.
When in opersition, the JLP spoken man, now finanace minister spoke in favour of these investment clubs. Since the JLP won the election the Government had remaind silent on the matter until it reached the Crisis stage. Not only have the goverment act too late but they have change their tune slightly from what the where playing six months ago. This my friends is politics.
Mr. Carlos Hill’s intentions for Cash Plus has always been good but we all seems to be missing the facts. Cash plus, Olint and world wise has all been around since as far back as 2003 and was operating problem free. These clubs has help alot of people to prosper and grow. The actions of the three major local banks against cash plus in particualr has been down right Malicious and unfair.
These institution have not being consistent with thier actions regarding the HYS. Olint was given over a month to get things together for a smooth transition before their accounts were closed while cash plus was given a few weeks notice.
Any financial institution in the world that undergo ” a run” by it’s customers will crash. This is what was aimed at cash plus in particular.
I’m not agaisnt investment clubs being registered but i know there are right and wrong ways of doing things. The FSC claim it’s trying to protect the ppublic.
This is the same FSC which sat and watched the HYS. grow for years before taking any action. How can they have the interest of the average man at heart when they did nothing when one particular club had less then 10,000 member but have move to shut down the business now that it has more that 50,000 members?
We need to be balance about this mattter, it’s not as simple as some people make it seems. The FSC is not concern about doing the right thing or even about protecting the average man, they are caught up in scoring political points.
Investment clubs exist in many other countries throughout the world. some has fail and other have been doing great things.
We also need to relized that Prisons were not made for dogs, they were made for men.
Throughout the world and across all sector you can find acts of fruad. Billionaire Conrod Black was sentance to jail time for his roll in running his company to the ground recently.
No business man like to disclose the nature of their operation if it involve sharing the secret of how their money is gain, and this is true even when the operation is legit.
We need to approach this matter form a mature level and stop treating it as if it’s simple.
Much said
Downright said,
January 10, 2008 at 8:21 pm
I agree with you @think&check the whole bank saga of “banks allegedly holding funds” is a farce. Carlos should just confess that there is not enough money to cover the obligations and return what he can out of the assets.
US, I really want to believe Carlos is just plain stupid than believe he is a fraudster. But you are right his criminal record does speak volumes. He sold worthless securities to firms so they could in turn defraud banks and investors in the New Jersey.
He obviously is not reformed, here he is trading worthless “securities” again. The investor gives him cash and get a worthless piece of paper.
The real victims of the ponzi are the last ones. So if he can get more investors now, the current ones will be spared.
In the Jamaican diaspora there are too many persons who buy into pipe dreams. The real problem isn’t Carlos or Mad Max, it is ones who know better and refuse to speak out. We must, @US,@Marta and @Eve receives no cash for warning people but trust me @Aziza and the others need to keep the pipe dream alive so the new investors can join this sunken ship.
Downright said,
January 10, 2008 at 8:36 pm
Look at any bank’s balance sheet, the obligations (its customer deposits) are liquid hence its assets (investments in CDs and Repos) are liquid. The concept is matching of funds. Think clearly if NCB, Scotia or Bank of America used the majority customer deposits to buy companies and investment properties what would happen if there was a spike in customer withdrawals.
Bank profits
These can be extremely large Bank of America and HSBC are good examples. They make their money by taking in loans (customer deposits) at a low rate sometimes (1.25%) and loan it out to large safe clients like GM and Microsoft for about 6-7%. This will bring phenomenal profits.
Cash Plus profits
No profit and loss was given for the period ending Sept 31st (LOL) so all I can say is the Retained Earnings which is negative is indicative of lack of profits.
Concluding
Banks will generally not make you rich. You invest 100,000 in a month you may get $400.00 in Jamaica or $33 in the US. But I will tell you the profits really come when you invest in your brain. Go back to school, get an education ensure your integrity is beyond reproach. This is the real eighth wonder. The cash will start to come your way slowly but surely.
Aziza said,
January 10, 2008 at 8:49 pm
Don’t be silly Downright aka Jason aka US etc…..
I have been a Cash Plus member for one year and I have NEVER recommended anyone, much less thinking to start doing it now when there is a CEASE and DESIST order on the company in place.
Goes to show that when some people have nothing else sensible to say they resort to spewing utter nonsense!
Regardless of it, I hope God Blesses you and your family.
You have a great night!
Downright said,
January 10, 2008 at 9:05 pm
@Aziza
I wish you no ill. I actually hope Cash Plus continues to prosper you and your family. I am just concerned about the ones who are not invested for a year as yourself, but since September, August, October or November.
They may lose everything.
Thank you for your greeting of God’s Blessings, I wish that blessing will extend to all Cash Plus etc. families. Some are having sleepless nights.
Eve said,
January 10, 2008 at 9:20 pm
VGR2100, the comment made by the Minister of Finance, is one I am sure he would like to take back. Have you noticed how he is now using Mr. Wheby as the point man for issues relating to the whole alternative investment schemes? I do not think he knew he would be Finance Minister one day and was just running is mouth as opposition spokesperson on Finance. I haven’t hear anything from him on these Schemes since he became Finance Minister..have you?
“US”, I was one of those people that stated that Cash Plus did not started out with the intent of defrauding individuals. I came to that conclusion based on the fact that he has spent an enormous amount of capital acquiring or starting companies. Now, if fraud was his objective, why not fool people into thinking he would use their money to do Forex Trading. With Forex Trading, it is impossible to track or confirm that an entity is indeed involve in such activities. As you are aware, most Ponzi Schemes does not have any legitimate underlying assets, they simply use the funds of new entrants to pay old ones. Therefore, if Mr. Hill was bent on fraud, why go through the hassle of buying/starting and managing companies. Just do it the try and true way..right? I know that you are going to say that by buying or starting these companies give potential investors the impression that C+ is legitimate, but my point is, he could have made more money and attract the same amount of investors by running a classic Ponzi Scheme. By reading a lot of the post on this and other sites, most investors were simply looking at the advertised high interest rate and not at the underlying assets. That is, some individuals we taking out loans from banks at say 19 %, knowing that they would be getting 120 % from these schemes.
My take on this, is that Mr. Hill convinced himself that he could somehow repay his investors from the profits of these companies. Then again, it is mind boggling how he could have convinced himself of that, not at 10% – 15% a month! My other point is, Mr. Hill is at the end of his travels, he has no where else to go. If the C+ collapses, I don’t think he has anywhere else to go, so why defraud?
Downright said,
January 10, 2008 at 9:46 pm
@Eve
Jamaica may be the one of best places to defraud. Our legal system is so slow that Carlos could be in his seventies before a jury gets the case to decide upon.
Remember the Finsac days only the unfortunate Fullerton daugther went to prison. Mr. Panton successfully delayed justice until the case today seems to be thrown out . That was 1993 when the case started against them, Blaise Investments, fifteen years ago.
This land is fertile ground for fraudsters.
Liz said,
January 10, 2008 at 10:19 pm
@ Downright:
I like what u said about getting an education etc. And funny enough, I was hoping to make a bit of money in one of these schemes to fund my education. Now it seems as if the course I wanted to start this month will have to be put off until some time in the future…after i find some way to make back what I have lost…..
Downright said,
January 10, 2008 at 10:42 pm
@Liz
You have breath in your body and the right attitude. Only you can stop yourself from acheiving success. I hope you will get that education soon. That is what we need, more educated people in this country. People who can make informed choices and analyse any proposition.
I wish you success Liz.
sixto22001_Ja said,
January 10, 2008 at 11:05 pm
Downright, i think you were misinformed. There was nothing for Carlos to confess. Base on the nature of cash plus buisness money is always going in and out of the account and the fact is that the banks just wanted to play hard balls. When cash plus deposite money they do so in the form of Managers chque. In Jamaica the bank policy is to take three days to clear these chques. Even though you have have the money there they will not re;ease the money. What many company do to prvent the bank for sending back cheques is to develope a relationship, a deal with the bank where they release the money before the three days. How can you say there was no money in the account when the bank themself wanted to close the account because they said the amount of money flowing through the accounts was so large that they started questioning the source? The fact is, the banks were not about to make any deal with cash plus because they had a plan to shut them down since bout the government and FSC was not doing so. The FSC also claim at the time that no one had complian about caush plus so they had nothing to work with to shut them down. The banks therefore was the one who tried to cause the damino effect.
Now, if some one was to start a rumor agaisnt the bank of america and most of its customer decided they wanted their money back the bank would not be in a position to pay out all the money immediately so cut your crap. Liek i said think before you mislead the public. If the FSC and you were so concern about the persons who started investing in casp in september why did they act in the way they did? If the new government had care why did they tok so long to start a reform process? And as for you downright why dotn you comment abotu other investment clubs apart form cash plus or Higgins warner? What say you about Olint, mivesment and world wise?
I would like to think that some of us have better reasioning abilities than what have been display on this blog. I dont think Carlos Hill had any intention to defraud any one and as for the rate of interest, i think it was possible to pay that but only up to a certian point.
I do not think the unaudit statement sent out be cash plus was a true reflection of the companys books. Cash is siad to have assets out side of Jamaica and i saw nothing being mention of them or many other companies that they operate locally.
Much siad
Downright said,
January 10, 2008 at 11:37 pm
@sixto
I really dont know about the bank situation with Cash Plus. There is a clause which prevents bankers from disclosing client accounts.
I have encountered this view before, and it astounds me that seemingly educated people as yourself espouse the view that Cash Plus is anything but insolvent. Sir time will tell.
I may be wrong about C+, this company could defy common sense and be a truly successful conglomerate. Lets all wait on time, it my friend forms no opinion it only reveals whether lenders wil receive their money.
I hope to God you are right that C+ is liquid. But I guess I am of little faith in Carlos. In Jamaica it is said do not discuss politics or religion, for fear of arguments. Cash Plus has now become a politic and Religion and Carlos as its messiah.
Observer said,
January 11, 2008 at 2:06 am
Banks make money from deposits. So, if you actually have a LOT of cash, the banks would want your business. If you’re involved in check kiting, they don’t. Why would a bank conspire to get rid of Cash Plus if it had a lot of CASH which is how banks make their meager spread? Simple, Cash Plus didn’t really have the cash, just funneling money in a possible ponzi scheme.
Observer said,
January 11, 2008 at 2:11 am
There is no conspiracy….it was a Ponzi scheme.
Regarding Mr. Hill’s intent, the original Mr. Ponzi did these schemes over and over again too despite getting caught. They are mentally ill and are addicted to the thrill of taking people in. If Mr. Hill was an honest man he would not claim to be able to pay people an interest rate that is not possible for any business activity to payout. There is a sucker born every minute.
http://en.wikipedia.org/wiki/Ponzi_scheme
Eve said,
January 11, 2008 at 8:04 am
@sixto22001_Ja
I do agree with you on a couple of things. However, the reason most people have focused on Cash Plus is due the fact that they are the most visible and have the most “lenders” of all the schemes. Also, the fact Mr. Hill is a convicted felon, did not help his cause. After all, the big problems started for C+ when that information became public. Most people do not know who run these other schemes you mentioned in your post and what their backgrounds are. I think they will all fall together once the dust clears.
Today’s Gleaner has an interesting article on Omar Davies’s take on Mr. Shaw, something I raised in my post (#501). See link below:
http://www.jamaica-gleaner.com/gleaner/20080111/lead/lead9.html
By the way, due to the impending elections, I don’t think anyone wanted to move on C+ before the September date, due to the large number of “lenders” associated with them (all politics). They did move on Olint because they were much smaller and had a more affluent client base (speculation on my path). C+ on the other hand, had targeted “ordinary” Jamaican.
Most of you might not be aware of this, but there are Jamaican individuals here in the US who have setup their own informal business of investment advisors and have been taking people’s money and investing their funds into these schemes. They then paid out monthly interest at say 5% to their clients and pocket the other 5%. Very creative indeed. I wonder what these advisors are going to do when the interest streams dry-up and the principal disappears.
Bottom line: Jamaicans are some of the smartest people that I have come across. In fact some of the smartest Jamaican I have had the opportunity to interact with, cannot even read or write (I did not know that so many Jamaicans could not read and write, until I started a business 11-years ago!). The problem I find is that they have a tendency to always seek the path of least resistance, regardless of the risk involved. Just look at Jamaican involvement in the drug trade. Do you know the number of Jamaicans kill in the drug business from the 1970’s -2000s? The lure of fast money blind people to the risk and even knowing the risk, will still go ahead, hoping for the big payoff! Have anyone questioned the trend in Jamaica where young men are are no longer moving-on to tertiary institutions, after leaving high schools? Why should they, when entities like C+ can give them 120% return on the investment. The challenge for all Jamaican is, how to channel this creativity into true entrepreneurial endeavors.
Think&Check said,
January 11, 2008 at 8:56 am
Sixto, are you delusional? Unless you work for Cash+ I dont know how you can speak to their customer base – they do not declare this or any other information for that matter except of course their September 31st balance sheet.
You made a point about Cash+’s acquisitions, I where is the proof? Did you know for example that Nationwide pulled out of a deal with Cash+ because they were advertising their ownership of Nationwide before the deal was signed? Take a look into the background of the Hilton’s owner.
Another point, one thing is consistent on the websites of these schemes – you cannot find any information on the principals of these entities on their own websites.
Finally, I do hope people will be able to recover their principal but one should recognize a scam when one sees it by just Thinking and Checking.
More Anon
Think&Check said,
January 11, 2008 at 9:22 am
you also said that C+ only deposits manager’s cheques, that’s what Mr. Hill said based on the Youtube tapes but the presents more questions than answers. If you are running retail businesses (as C+ lists) I am sure your customers would pay in cash but if all you are doing is running a pyramid then everyone takes in manager’s cheques and so if I am a member my manager’s cheque starts paying my 10% per month return etc. etc. take from Peter to not only pay Paul but to pay Peter as well!!!!
Much has been said about banks making billions and not sharing with its customers and this is true to some extent because the banks really do take a lot out of their customers especially in fees. But. if one were to look at NCB’s published Audited financial statements at September 30, 2007 it shows the following:
Assets (Group) $254 billion
Net Profit $6.6 billion
Return on Assets $2.6%
Elizabeth said,
January 11, 2008 at 9:32 am
Who are you Lee Chin???? Do you really think those audited financials are accurate??? Please WHEEL AND COME AGAIN!!!!!!!!!!!!!!
Think&Check said,
January 11, 2008 at 9:47 am
Elizabeth no need to behave like an attack dog – these statements wer signed by PricewaterHouse Coopers, chartered accountants with a reputation to protect especially given what happened to Arthur Andersen in the Enron debacle – Arthur Andersen is no more!!!
They are very detailed and if a shareholder requires additional information then they can ask of the company. Where are the audited statements from C+? Where?
You are displaying your ignorance – respond to the substance of what i have stated – FACTS.
tn said,
January 11, 2008 at 10:16 am
So I guess we should forget about our money @ Higgins Warner
Elizabeth said,
January 11, 2008 at 10:24 am
Oh Jeez did I step on your toe’s !!!!!!!!!!!!!!
Anthony said,
January 11, 2008 at 10:27 am
Hello everyone…
I’m new to this blog, I will start reading some of these post to catch up on the vibes here…see who are the detractors and the Cash Plus supports…
I like to weed out detractors anywhere i find them…
GIRLS DEM GRINDER (C.A.) said,
January 11, 2008 at 10:48 am
What the fuc about this cash plus shit u guys lost ur money start over shit
Think&Check said,
January 11, 2008 at 11:24 am
Elizabeth – if it makes you feel happy then you can believe it but I notice u r yet to comment on the points I’ve made!!!!!
Elizabeth said,
January 11, 2008 at 11:27 am
I dont have to defend my points THEY ARE FACTS!!!! And you know that too…Oh by the way RUFF RUFF!!!!
Michael said,
January 11, 2008 at 11:47 am
# 501 Eve your comment finally confirms that with seeing the build up of fixed assets , investors been paid and no negative press from the Banks or the FSC how alot of people from all walks of life invested with CP.
Michael said,
January 11, 2008 at 11:59 am
LET HE WITHOUT SIN CAST THE FIRST STONE. LETS START WITH OUR POLITICAL LEADERS,BIG BUSINESS MEN AND THE MAN ON THE STREET. CARLOS HILL IS A CONVICTED FELON AND HE IS BECAUSE HE GOT CAUGHT AND SERVED TIME. FOOD FOR THOUGHT.
Think&Check said,
January 11, 2008 at 12:34 pm
Ok Elizabeth enough already!! Please re-state your facts and i’ll respond to that and nothing else just so that this does not become overly personal. You could try to respond to the FACTUAL statements I have made.
If people choose to give their money to a man convicted of mail fraud and racketeering, who talks a lot of what he owns but shows nothing to verify then fine with me – it is your money. Just dont accuse those who choose to investigate and ask questions bad minded, conspirators etc.
BTW didn’t the postdated cheques issued Nov not set off alarm bells or was that the banks’ fault? But why post-dated cheques?
Downright said,
January 11, 2008 at 1:50 pm
We all know @T&C that post dated cheques are signs of low liquidity. I don’t know whats going to happen if this thing crashes. People will be blaming everyone except for the real culprit. Careful how you diss their saviour, these guys are believers.
They are the ones who Jim Jones could of given the ‘purple kool-aid’. Sad.
Mackster said,
January 11, 2008 at 4:03 pm
Hey people i have read all the blogs, sad to say even more than i have read my bible, but I realized a trend. When someone goes and open his/her own business, as the Minister of Finance wants us all to do, arent they doing what they want with their money? I have friends who continue to fund their business from loans upon loans upon loans. I ask what if someone believes that they want to take THEIR hard earned money and TRY to do something with it, is that a PROBLEM? Should we call these people crazy? I dont think so.
I would like to ask all the person who have been grunting constantly at the so called “ponzi scheme” one question. What if Mr. Hill pulls it off? How would u feel? Making all these judgmental statements and disrespecting investors attempts at INVESTING. I want to see some better comments man. If there is anyone who knows a better investment scheme that I will see my money work for me, let me know.
Thank you.
Mackster said,
January 11, 2008 at 4:06 pm
Anybody here knows if Minvestment is a reputable investment alternative? Please just reply and let me know.
Thank you.
MARSHA said,
January 11, 2008 at 4:20 pm
There ought to be pressure placed on the FSC where they allow Cash Plus to pay people who want to take their money out. I understand that there is a “cease & desist” order issued by the FSC, but this should only apply to CashPlus accepting new investors and taking new money. This should not affect people getting their money out.
Where is the outcry?. People need to rally and protest against the FSC for them to allow CashPlus to start paying now!.
Folks are blaming the government, ie FSC, and CashPlus is riding the wave of public opinion in their favor for the time been. Bottom line, invesors are left holding the bag.
LET’S START THE PROTEST SO INVESTORS CAN GET PAID!!
Downright said,
January 11, 2008 at 4:29 pm
@Marsha I don’t know if the FSC said ‘cease and desist’ paying your obligations. Probably someone could inform the forum if this is the case.
@Mackster your money is your own invest to the heavens.
Mackster said,
January 11, 2008 at 4:36 pm
Based on what i was informed by a cash plus representative they were told to cease and desist business. They are not to open office and/or do any activity under the business name until further notice.
However, @marsha, based on what i was told they will be opening doors on April 1, 2008. This is to accommodate the regulatory process and restructuring which they are undergoing at this time. By the way, marsha, have you visited the office near you? Meaning call or something because they have some info for cash plus investors as it relates to their future plans.
Downright said,
January 11, 2008 at 4:55 pm
If the Cash Plus representative is being truthful, investors are all in for a good wait. April 1st however is all fools day. I wonder if this date was chosen specially for the re-opening.
marta said,
January 11, 2008 at 5:10 pm
MACKSTER
I am saddened by your comment. Yes it is true that when someone opens a business they are doing what they want with their money. But a prudent businessman/woman would do the due diligence work before investing. If it is buying another business they would check the viability of the product, customers, market conditions, balance sheet trends etc. Only after doing all of this should they fork out their hard earned money to invest.
For a new it is even worse since their is no history, but research has to be one of the important pillars to base a business decision on.
Cash plus provides nothing but a list of company names to make a decision. No one knows if any of these companies are making a profit or huge losses. We are just learning that they are insolvent and that the owner is a felon because of corrupt business practices.
My question is, if you knew all that you know now about cash plus would you invest your hard earned money. Your honest answer will determine the kind of business thinking you bring to the table.
Kymn said,
January 11, 2008 at 5:21 pm
Downright,
Cease and desist means that :
1- no interest payments
2- no disbursements (want back your money)
3- no new money (from current or new members)
This is as confirmed with the FSC.
Gemini said,
January 11, 2008 at 6:22 pm
@ Mackster. Minvestment like any other alternative or online investment scheme is high risk. If you choose to invest with them, dont invest any amount you cant afford to loose. It has been paying well for some time now, but so was Investment Manager and Open Trade…both of which have stopped.
Mackster said,
January 11, 2008 at 6:22 pm
Well my answer @marta, is that millions of dollars are spent each day on race horse, cash pot, lotto, pick three and all other gambling outlets. Most of these go to one business place Supreme Ventures. Now are you saying that when my friends spend up to 30, 000 per month (divided into daily contributions) are spending their money foolishly? Well i dont think so. It is a risk u take when u spend your money. $20 or $20,000,000 it is a risk.
I know what u r talking about, however i continue to say that each step that is taken is your own and why isnt there any issues when people spend their hard earned money and gamble it away but when u TRY a new investment scheme you are titled as FOOLISH.
I must add that if one takes it up on themselves to think that there is no way that the POPULAR and seemingly WORKING investment agencys can crash. You make a sad, sad mistake. It is all possible. I would like to say, i am a risk taker that is why i placed my money in cash plus and if i win, i win.
Mackster said,
January 11, 2008 at 6:23 pm
Thank you Gemini.
Downright said,
January 11, 2008 at 6:37 pm
@Kymn
Thanks for the info.
Aziza said,
January 11, 2008 at 6:59 pm
@ Mackster
I totally agree with you when you say that popular and seemingly working investment agencies can crash. Just look at todays news.
Calamity! – Financial director breaks down over lost funds
published: Friday | January 11, 2008
Faced with death threats against his children, a director of Money Express, a local financial entity with 179 members, called an emergency meeting yesterday to explain how millions of their dollars had been lost.
Read more here….
http://www.jamaica-gleaner.com/gleaner/20080111/lead/lead1.html
FYI….this company was registered under the FSC!
marta said,
January 11, 2008 at 9:40 pm
MAJOR INFORMATION ON Higgins Warner at the “Higgins Warner” link at the top left of this page. IT IS UNBELIEVABLE!!
marta said,
January 11, 2008 at 9:55 pm
AZIZA
I hope you are not saying that the company failed because it was registered under the FSC. Or that it is consequential. Because you will have to have the same theory about the profitabel companies too.
Aziza said,
January 11, 2008 at 10:11 pm
No Marta….not saying that at all. What I AM saying is that being registered under the FSC does not prevent failure. Some people are of the belief that being registered will be the end all of all problems related to the Investment clubs. But I just posted that to demonstrate that it is not true…
To add as well, the director of “Money Express” is a member of one of jamaica’s “top” families.
marta said,
January 11, 2008 at 10:54 pm
I understand. being registered though means that you have to be more open and regulated with your operation. It means that you have to submit reports and is opened to checks and balances by your customers and authorities. These are the reasons for registration. I agree that it does not guarantee success though.
Downright said,
January 12, 2008 at 7:30 am
@Aziza and @marta
There is no doubt both companies have been treated differently. One is regulated by the FSC and the other isn’t. Both are in financial difficulties and regulation as you said @marta” regulation does not guarantee success”.
But the important point is the type of investment, the underlying, people who make these investments must understand the high level of risk and its attendant possibility of high return. There is more likelihood than not that money will be lost.
I prefer regulation which ensures investors are informed of the attendant risk and have only themselves to blame when the investment goes south. Regulated entities have to explain this to clients unregulated are not obligated to disclose.
@Aziza the media has its biases and today many wait for Cash Plus demise and the idea of investors in panic sells newspapers and increases viewership. But Cash Plus seems to be moving 120 miles per hour in a 12 mile per hour zone. So the common idea is it soon crash, not to mention its new 216 mile per hour investment vehicle.
Eve said,
January 12, 2008 at 10:11 am
@Kymn, I beg to differ on what the “cease-and-desist” means. I do not think it means C+ cannot pay monthly interest. I think it means no “new” investment. If it meant no monthly interest, why would C+ request that their existing customers roll over the interest for a few months, so that they can south out their issues? If they could not pay per the Cease-and-Desist order, why request roll over? I think the same is true if you want to withdraw your principal! I think the dilemma C+ is in have to do with the low cash reserves and the issues with the banks.
I have not seen anywhere, the specifics of what the cease-and-desist order means. I can only speculate based on the reactions of C+. It would be more beneficial if someone could “officially” (FSC) state what it means. By the way, FSC stated that if C+ uses a licensed dealer, they can continue to do what they have been doing. I challenge for them is to find such a person or entity that would put their license on the line for C+. I’m I wrong in my interpretation of this cease-and-desist order?
Finally, I think we need to stop the personal attacks on this blog. It’s not going to help anyone. I personally think there are a large number of people that have invested in these schemes that knew and took the risk. These individuals can afford to lose all of what they have put in. I personally, do not think we should be concern about this sector of people. The people I’m concern about are the ones that assume the risk was minimal based on the testimonies of those before them who were getting their interest payments. They went out and borrow money to put into these schemes or invest what they couldn’t afford to lose. These, my friends, are the ones we should be worry about.
Aziza said,
January 12, 2008 at 11:03 am
@ Eve….
You are very wrong with your interpretation of the order. There is no need for speculation as many people (including myself) have called the FSC about what “cease and desist” mean and it IS everything Kymm said. Also notice that she said at the bottom of that same post that she got this confirmed by the FSC.
re: your comment about attacks on the blog, I agree with you 100%. This however goes both ways. There are those (who I am sure all know themselves) that come on here and abuse people with their words on both sides of the fence and it is not necessary at all.
We should all be able to have civil conversation without using harsh words to one another. This is difficult times we are going through but not the end of the world. A lot of the energy being expended here would be put to much better use helping the truly less fortunate.
God Bless.
U.S.... said,
January 12, 2008 at 2:10 pm
You invest in companies and people. If you don’t understand the company and the people, then don’t put your money into it. Cash Plus was a foolish investment triggered only be the high rates of retrun. If they had promised 5% per year no one would have given them their money. Odd how people throw money at fantasy returns levels but will actually study investments that pay far less….. Prudence is needed or don’t come crying or blame the government.
Rohan_GB said,
January 12, 2008 at 5:59 pm
Dont come cying to who? Why do you think people would use your shoulders to cry on?
The new commers on the is blog please stop pasting wiktionary definition on here, if you read the previous blogs, you would see we already know what ponzi means. Further more companies like C+ is a private equity club….
At least the girls are better debaters than the boys..bloggers think the only way they can be heard is if they swear and raise their voices in here…..
Just to let you know the blogger did not go ’silent’. They have migrated to other blogsites….its by invite only!! Its for people in HYIS. And like minded. I defend HYIS not just cash plus. I did my risk assessment before I join. I heard the most affluent people pulled out of C+ because the dont want to associate with the no class, working class illiterates commoners….a no me say so!!
Remember when the ICIs invaded the market, who did cry foul? The stores. Just like the Banks, crying foul now.
Part of the FSC job is to prevent failure in the business. They need to be more proactive.
Does any one know if the MPs did meet with these HYIS to discuss the concerns of the financial markets and possible regulation? I guess thats not how they do business in JA. Its like a malaise ting. That way forward was to meet up with the key players in the business and have a serious chat.
Can anybody tell me why when the credit union tried to issue a credit card, the authorities put a cease on them? As I said before if consumer had an electronic payment card, productivity would be improved. Why? You would not need time off from work to go pay your bills or to do any financial trans action. I am sure only a few privalage people owns a credit card, the debit they have ow is only for point of sale payment or cash card. The system needs draustic overall if we are moving to fully developed country.
There is hardly any presure groups in Jamaica. We just take any decission push down on us. People here are say action now and not doing a thing. Thats why the government can do what ever they want. If the govenment here in the UK want to impliment a new law, they would put it to the public for consultation and public opinion.
Have a nice weekend all.
Eve said,
January 12, 2008 at 6:49 pm
@Rohan_GB;
“….Further more companies like C+ is a private equity club….”
Are you serious? Explain to us commoners how a registered company can serve the dual role as a “private equity club” and a “conglomerate (C+ definition of who they are) at the same time; I’m truly confused. If you use the United States SEC definition, an Investment Club should have nor more than 100 members. I think Cash Plus is upwards of 40,000+. Also, do you know how many Cash Plus “lenders” participate in the investment decision making process..a key component of an investment club. So, please help me understand what is a “private equity club”, is it different than an Investment Club and what makes C+ falls under the any of these categories? Also, what is the legal definition/requirements in the UK for these “Private Equity Clubs”.
VGR2100 said,
January 12, 2008 at 10:16 pm
Either the detractors are deliberately seeking to forever mislead in erroneously repeating that it is impossible for any business to generate returns of 120 percent and above per year, or the detractors have little or no experience in business transaction pricing and profitability planning and forecasting.
To such detractors (you know who you are), my question is as follows:
1) A company sells a piece of furniture for a Retail Price of $520 and makes 30 percent profit on the business transaction.
Calculate and state the wholesale price.
Next Questions:
2) Can such a company achieve 6-10 turnovers per year on its Heavy Demand Items?
3) Can such a company achieve 4-6 turnovers per year on its Moderate Demand Items?
4) Can such a company achieve 2-3 turnovers per year on its Light Demand Items?
5) Can such a company achieve at least one turnover per year on its Very Light Demand Items?
The answer depends on its (5) five P’s of business, including:
Product Strategy
Pricing Strategy
Promotion (Communication) Strategy
Placing (Channel Distribution) Strategy
People Strategy
If the answer is yes, then the company can generate returns far above 120 percent.
The fact is that the banks love to have as clients such a company as a fundable loan project. Hence, the banks would not be happy that such a company turn to savers in Investment Clubs for its capital requirements.
Hence, the banks recent moves to spite savers/investors in Cash Plus and OLINT as well as to bring down the Investment Clubs like these.
Now, research for yourselves each and every one of the previously named companies that Cash Plus bought through a series of mergers, joint ventures, and acquisitions, starting with the second to last one listed previously (Caymanas Off-Track Betting Limited).
Now, detractors, try to mislead that this company is a fantasy. This company has been around for decades when I lived in Jamaica.
I commend the pro-Investment Club readers for ignoring or refuting peacefully the fantasies of the detractors to mislead.
After I laugh at the detractors expected response abusive responses, I will move on to share more about what I have learnt about investment clubs.
U.S.... said,
January 12, 2008 at 10:35 pm
VGR2100: You are an idiot.
There, does that make you happy!
By the way, by any definition, I am super-rich with over US$5M in liquid assets…none are in Cash Plus or any such schemes. So, I do know a bit about strating and running businesses. Fact is, if a business actually made 120% profit competition would flood in and drive that down since many would settle for 100% profit, then 90%, etc…..
I only came across this blog after a trip to Jamaica hearing about Cash Plus and some other schemes. I couldn’t believe what I heard at the extent that people were getting suckered into these things and thought I should post a warning or two to get people to snap out of the “greed mentality” and make a rational decision with their money before it is too late….and to prevent new people from getting the money and hopes stolen from them. I posted and didn’t expect that people would attack me for stating truths about these things. Again, the world’s greatest financial geniuses did not sudden all appear in Jamaica (by the dozens now) and don’t export a thing. Oh well, keep smoking that herb, you’ve obviously been doing that for a long time…and you’ll need it to drown out the financial disasters of your own creation. It is a pity.
Downright said,
January 12, 2008 at 10:53 pm
These businessmen that sold these thriving businesses generating high profit margins and good turnover rates must have sold Cash Plus at a premium. Or probably its the case that the businesses were bearly surviving and Cash Plus bought them at a discount with hopes of turning them around.
None of them seem to be doing so well. Especially the Drax Hall estate which generates no real income, the Hilton formerly the Wyndham and the Sheraton has always been a struggling hotel since the 1980’s. Megafone is a past entity, the call centres seem to be going belly up.
But Carlos knows best, and Rohan_GB and VGR2100 must know something more than the board does, as they are so adamant about their support of Cash Plus.
Caymanas OTB Ltd is a small group of betting shops. A guess its fitting that Cash Plus latest aquisition is reflective of its main business, a real betting shop. Odds on its success in coming weeks seems 216 to 1.
Downright said,
January 12, 2008 at 10:58 pm
@US
I value your opinions on this forum, but you must admit you can be a bit abusive to VGR and other Cash Plus supporters. This is not productive, I am disturbed by this and must tell you its much more productive to debate than berate.
Downright said,
January 12, 2008 at 11:03 pm
@US
Save your energy for you may be needed help to track down another scamster in a few weeks, when the money persons are waiting for is revealed to have disappeared.
U.S.... said,
January 12, 2008 at 11:43 pm
I was just joking about calling VGR2100, S/he predicted it. Although, sometimes you gotta be blunt … like a small slap in the face to get attention with people are in a “greed trance”. Isn’t there a saying in Jamaica that goes something like this “greedy puppy, greedy puppy, choke”.
Downright said,
January 12, 2008 at 11:55 pm
@US
Why is it that other Caribbean islands dont have this proliferation of HYIS? Its strange that Jamaica alone seems to have them.
What would happen if Carlos, Max or Noel set up shop in say Florida. Do you think the authorities would welcome them?
U.S.... said,
January 13, 2008 at 12:45 am
Maybe Carlos, Max, et. al. are the new Pirates of Caribbean….
If they were in Florida, they’d be staying in the Miami jail.
Downright said,
January 13, 2008 at 4:45 am
I wonder what happen to the debit cards, Mastercard and Visa? I also wonder which bank in Dominica is part owned by Cash Plus? Does anyone know?
Downright said,
January 13, 2008 at 5:15 am
November 16th 2007 Gleaner excerpt.
Cash Plus, meantime, has said it plans to enter the sector itself, but in the Dominican Republic where it has bought into a ‘banking institution’.
“We have interest in it,” said Golbourne, adding that it was a controlling stake, but saying the details of that investment would be released at the same time as its financials.
http://www.jamaica-gleaner.com/gleaner/20071116/business/business6.html
Eve said,
January 13, 2008 at 8:33 am
@Aziza
In response to my post (#542), you indicated that I was wrong in my interpretation of the cease-and-desist order (#543). I think you or the person you spoke to at FSC (maybe the operator?) do not know what you are talking about. In my post, I asked a very simple question, if the order bars C+ from paying or refunding “lenders”, why would C+ request that their “lenders” roll over funds? Can you answer this basic question? I further indicated that there are available avenues under which C+ can facilitate that their “lenders” get their interest payments or refund of their money, i.e., use a licensed individual/company. Apparently, you neglected to respond to the latter. Anyway, there is an article in the Sunday Gleaner (1/13/2007) which basically enumerates what I stated in my post. See link below:
http://www.jamaica-gleaner.com/gleaner/20080113/cleisure/cleisure2.html
I have cut and paste the relevant section of that article here and welcome your interpretation of what is stated in the piece. Bottom line: C+ can pay interest and refund lenders if they so choose, but I think they want to mislead their “lenders” into thinking that the cease-and-desist order prevent them from doing so.
” …….A cease-and-desist order is an instruction to an entity requiring it to discontinue any business, transactions, or any actions which are in contravention of any of the various financial acts. For example, where a cease-and-desist order is issued by the FSC under the Securities Act, the entity must immediately cease taking money from existing and new investors and discontinue its operations until it has acquired the required license or registration. Until it has complied with the requirements of the law, it could transfer the business to a licensed entity – usually with the consent of the existing investors – or it must return all moneys which it has received to the investors……”
Kymn said,
January 13, 2008 at 8:56 am
Eve,
Just call FSC for yourself, no one is trying to convince you of anything. Maybe the operator that you get will tell you something different from what all other callers were told.
FSC issued the cease and desist, FSC knows what it means.
Downright said,
January 13, 2008 at 9:00 am
@Eve
Has anyone told you you could be a brilliant reporter or detective. Thank you for the information. Its really good we have this forum, just think we are being mislead. Bwoy I dunno how we can trust this company.
thomas said,
January 13, 2008 at 2:57 pm
Higgins warner folks has anyone heard anything else? I think that being negative does not help us any.
If they wanted to run off with the funds why would they not have done so long ago. I agree they are unprofessinal to say the least but why is it that we can still contact them lets just remain positive and wait for their january 30th deadline
thomas said,
January 13, 2008 at 3:01 pm
be positive and pray that this thing works out for us all not only with hw but also with cc+ and the others
Aziza said,
January 13, 2008 at 6:51 pm
@ Eve
The best way to get an answer to your “simple question” is to pick up a phone spend the few dollars and find out YOURSELF.
Whoever made the reporter comment is SO right. I don’t think it’s a “compliment” …but it SURE does fit.
Have a great night.
Rohan_GB said,
January 13, 2008 at 8:06 pm
Hi EVE not time to research that for you. got other things to do. but you can google them. Every country have different laws. US law is 100? Jamaica did not have a law on club we cant take everthing from USA . Cash Plus and others make use of the loop hole in the system. Every country must come up with their own laws.
Are you still baffling over the cease to desist order? That was weeks ago, shall we move o???????
@ 553 I though I sight something about clubs in Trini sot sure if it comes up again I will post it. I. Clubs are every where trust me. They were supposed to be private and I did not call you commonas , I read it in the mag.
http://www.schoders.co.uk/incomemaxinvestor and http://www.proshareclubs.co.uk you lot can set up your own club.
@Downright said,
January 13, 2008 at 8:22 pm
@Rohan_GB
I was not speaking of investment clubs, I was speaking of High Yield Investment Schemes, the previous is a subset of the latter.
Do you have any in Britain offering up to 120% or 216%. Would Gordon Brown and the Revenue allow such a club?
Can a convicted felon for financial impropriety become a director of a public or public interest company? Would this be in contravention of the Company’s Act 2006?
@Downright said,
January 13, 2008 at 8:32 pm
Nevada news http://www.gjsentinel.com/news/content/news/stories/2008/01/10/011108_12B_Fraud_scheme.html
Ellis, along with Michael Jenkins, 42, formerly of Grand Junction, and Gary Colombo, 51, of Las Vegas, were indicted in April by a Nevada federal grand jury, charged with luring investors into a fake high-yield investment scheme.
The indictment alleges that the trio, beginning in May 2003, promised investors a 1,000 percent return on their investment and then used the money for purchases that included properties in Grand Junction at 1138 Sundial Road and 461 North 22nd St., said John Harrison, criminal investigator for the Internal Revenue Service
@Downright said,
January 13, 2008 at 8:34 pm
Apparently these schemes occur in the US too, but the penalty to the scheme creator is generally sure. Prison
Analyzer said,
January 14, 2008 at 8:13 am
Please read and tell me if this sounds famliar. Almost exact replica of what is going on here in Jamaica.
http://online.wsj.com/article/SB120010072930285383.html?mod=googlenews_wsj
MARSHA said,
January 14, 2008 at 10:17 am
So what is the relevance of the April 1st date being thrown around by CashPlus. Is this the date they plan on start paying or not?.
catasha said,
January 14, 2008 at 11:19 am
Well, the only relevance I see in April 1st date is that it’s All Fool’s Day. Maybe Mr. Cash Plus see us all as fools (those of us that have invested i.e.
Can I get a here, here!!!
Winston said,
January 14, 2008 at 4:44 pm
The money express derailed US$42M of investors money trying to trade forex. They were regulated by the FSC and investors would have had access to financail records, so anyone want to guess what happened.
1. Did they post false P&L statements ?
2. Did the post false CashFlow statement ?
3. Was the balance sheet cooked. ?
4. Where the financail statements audited and by which firmed. Part of being regulated by FSC means submission of audited financial statements.
5. They were making 40 – 60% per deal(whatever that is)
6. So was Ricky a thief or just an overzealous traders who was a David Smith wanna be.
The lesson is FSC regulated or not NEVER invest more than you can afford to lose.
The world is investing is about managing risk, as long as you do this properly you will be fine, you will WIN some and you will LOSE some.
So all who come here pretending to be the repository of all knowledge , by very careful, as your house of cards could come falling down very soon.
There is no such thing as a safe investment, so those who post proudly that they have US$5M liquid, be careful as liquid is know to evaporate when exposed to certain conditions.
Peace.
MAGGIE said,
January 14, 2008 at 5:26 pm
April fool’s day is April 1st. Did CasPlus say they were going to be paying on the 1st?. Lawd, mi need me money!!!!!!!!!
U.S.... said,
January 14, 2008 at 5:36 pm
Thanks for the concern Winston. But I also have debt-free real estate holdings (that aren’t part of any real estate bubble) and sold off some real estate when market was high. Key is to buy low and sell high. Looks like Cash Plus never made prudent purchases in the first place…very reckless. Also, if my liquid disappeared we’d all be in grave trouble since they are fully FDIC insured….. I have no debt and only use debt financing when it is cheap (and 120% is NOT cheap so who in the world would use that…except crazy con men). If money is 3%-6% it is cheap, but never borrow much that you couldn’t pay off immediately if needed.
Be prudent with your hard earned money. NEVER jump on “stock tips” or other supposedly “insider information” since they really never pan out.
Good luck to all and best wishes. Be prudent, tithe 10% of your pretax income to good researched charities, and use debt wisely….
MikeQ said,
January 14, 2008 at 6:11 pm
Winston:
It appears as if Mr. Ricky (Ricardo) (Richard) Azan did not necessarily do all these forex trading under Money Express Financial Services Limited (MEFSL), a licensed FSC dealer. If you read Sunday’s Gleaner article, it appears to say that the forex trading or whatever he did to lose all that money is in no way link to MEFSL. After reading the article, I could not make heads or tails about what really went down. He, Azan did not want to divulge the exact nature of the “scheme” that required a minimum investment of US$25K. In fact, it appears he was deliberately avoiding a whole host of issues. The conclusion I came away with is, that whatever he was doing, was NOT a (FSC) regulated activity and was NOT done under the MEFSL umbrella. In fact, the Sunday Herald explicit stated that it was an “unregulated financial entity” and refers to this as “Money Express” and not MEFSL.
I am in no way an expert and please correct me if I am wrong, isn’t it possible that the person or entity is licensed by FSC, but the “product” or “securities” that is being hold-out to the public, itself is not a registered product with FSC? I am wondering if the latter is true, then Mr. Azan licensed entity (if he has one) could lose their license and hence the reason why he was clearly avoid answering certain questions in the Gleaner article. Could some in the know, explain this Money Express thing. I am mystified about this thing. Plus, this Azan person appears to be lying. On the one hand he is acknowledging that he mismanaged people’s money and on the other hand he is blaming the collapse of an unspecified bank, for the huge losses.
An even more interesting thing is shaping up between the Minister of finance and FSC (the two top guys at FSC have resigned). It a appears that the Fianance Minsister did not want FSC to issue the cease-and-desist order against Cash Plus, because he felt it could impact the financial market. Furthermore, it appears as if Mr. Wehby IS the Minsiter of Finance. It will be interesting to see how long he last in his position at the ministry, since he is not communicating with his boss, Mr. Shaw. 2008 is going to be a great year as far as these schemes are concern, since an interesting mix of finance and politics have come into play.
Aziza said,
January 14, 2008 at 7:42 pm
@ Mike Q
That whole azan thing seems fishy to me. Why would someone with almost the exact same name open a company with almost the exact same name if he was not promoting himself as being affiliated with the other? Seems a little bit too coincidental to me.
I agree with you that this will be an interesting year for the AIC because the minister of finance is obviously not of the same mind as the FSC.
I guess we will see how this one plays out!
Winston said,
January 14, 2008 at 8:19 pm
MikeQ, I think the Herald article is infact incorrect and that the entity that was trading was in fact regulated by the FSC.
The FSC and the BOJ have both indicated they have commenced investigating since the Gleaner first reported the issue.
I expect the Money Express Financial Services will lose its license, but lets wait and see what comes out of the investigation.
There is a Money Express but this is a remmitance service operated by CCMB.
So as far as I know there is only on Money Express Financial Services Ltd and they are regulated both by the BOJ & FSC.
US you want to comment on what may be happening here.?
Winston said,
January 14, 2008 at 8:28 pm
US are you saying your US$5M is fully FDIC insured.
As far as the FDIC rules are concerned, each holder on a account at a financial institutions is fully insured if he/she has up to US$100K in his account. ie the max insured amount is $100K.
You can can a max coverage of US$250K in an IRA account, so how is all that liquid you mentioned “fully” insured.
U.S.... said,
January 14, 2008 at 10:37 pm
Winston – There are ways around the limits so you don’t have to deal with 50 banks (if that is a concern). CDARS is one way which some banks participate in. Another is POD accounts for CD’s….f you were going to leave the money to others anyway, the POD account is nice and avoids probate and any instructions in a will. There are other ways too. My personal opinion is FDIC insurance should be $1M per depositor per financial institution, but that isn’t on the horizon. If you lock in some good rates, before the next Fed rate cut, you can get 5.3%-5.5% FDIC insured for CD’s from 3 months to 12 months out. Check out Bankrate.com. There really is no reason to have money in a non-FDIC insured account…if you do, make sure it is a reputable bank and check on it each quarter.
Delroy said,
January 14, 2008 at 11:44 pm
Can someone provide me with a referral to May Daisy? Please send the referral to gurd8@aol.com….Thank you in advance.
All the best,
Delroy
Winston said,
January 15, 2008 at 6:12 am
Delory,
Are you in the USA/Jamaica.
If Jam I suggest you place your money with JMMB, the GOV just raised int rate by 100 basis points or 1% so you can get a pretty decent rate compared to having your money in a bank. JMMB have a long term (5yrs) a/c paying around 12.3% per annum (tax free, as long as you do not remove any portion of the funds during this time). This was before the rate change
If in the USA AND YOU really want the risk you can try FXCM managed aggressive forex a/c, they are NFA, CFTC registered and returned over 64% on that fund between July – Dec 2007.
I suggest you stay away for Mary Jane or Diasy or whoever they are.
See link here
http://www.fxcm.com/managed-funds/managed-funds-programs.jsp
Winston said,
January 15, 2008 at 6:18 am
FXCM data is posted under on the CFTC website, here is that link.
By the way minimum cpaital required is US$5K
http://www.cftc.gov/marketreports/financialdataforfcms/
ren said,
January 15, 2008 at 10:49 am
what is david smith web site address
Winston said,
January 15, 2008 at 11:09 am
I think they had taken down the site after the FSC intervention, but you could try here. Think you need to be a member to get in however.
https://overseaslocket.com/efund/main.html
Winston said,
January 15, 2008 at 11:14 am
http://www.vcresearch.info/open/forums.asp?TopicId=9502&ForumId=108
This article says Olint is licensed and regulated by the TCI FSC , which is analgous to the Jamaica FSC.
Also said they tried to get regulated but was being told to go BOJ and BOF says go to the FSC.
Excerpts
Asked why not Jamaica, he said enquiries had been made but “the Jamaica FSC pointed Olint to the Bank of Jamaica and vice versa.” David Smith insists his operation remains strong despite pressure from the Financial Services Commission (FSC), which raided the company last year.
Did not recall seeing this article before. What does TCI – FSC has that Jamaica FSC does not have.
Winston said,
January 15, 2008 at 12:21 pm
If a housewife can do it, then I can do it too ??
http://www.reuters.com/article/newsOne/idUST26245420070824
Rohan_GB said,
January 15, 2008 at 2:16 pm
Dont think that housewifves are not smart. I know of a former PR Executive who is now a housewife.
Rohan_GB said,
January 15, 2008 at 2:25 pm
@ 564 Investment clubs or HIgh Yield Investment Club same, a we keep shortening the name saying IC.
Winston said,
January 15, 2008 at 3:17 pm
Rohan @ 585.
No disrespect to housewifes. If I disrepected anyone I therefore apologise, that was never my intention.
All I was trying to say is that a 60 yr old in her spare time made US$3+M not bad at all.
VGR2100 said,
January 15, 2008 at 11:58 pm
1) As promised for those supporters of Investment Clubs, here is the National Association of Investors Corporations (NAIC) website that I found at the http://www.SEC.gov website on “Investment Clubs and the SEC”:
http://www.better-investing.org/Public/default.
Its introduction states:
“Enabled through our education and unique investing methods, our members have accumulated assets of $95 billion and invest over S75 million per month.”
“Learn How They Do It!”
2) Do not be deterred by the abusers and detractors from your investment clubs education, research, and goals to achieve superior returns It is your money and mine, your risks and mine subject to what we can afford to lose or gain superior returns. Your money and my money is none of their business. They either want to take it from us, or are afraid that we will surpass them in our quest for a better life without any charity whatsoever from abusive persons like US.
VGR2100 said,
January 16, 2008 at 12:24 am
3) Will someone please wake up US from his fantasy land of abuse to do the very simple calculation necessary to answer the very simple question previously asked as to what is the wholesale price of the piece of furniture which a company sells for a Retail Price of $520 and earn a profit of 30 percent in accordance with its business transaction pricing analysis, profitability planning and forecasting.
If the company’s strategies enable it to achieve four or more turnovers per year, the fact is that it is this type of company that the banks and securities investment companies target for research and investment as well as fundable loan projects in Jamaica, New York, Atlanta, and numerous other locations around the world.
No amount of abusive, empty, and fantasy-based phrases from US can change that fact.. Surely US has heard of “Business Valuation and Intellectual Property Analysis”, patent law firms and patent litigation analysis? If not, he is more of an empty, sorrowful and pitiful abuser than I thought.
3) Blogger “US” has again demonstrated that he is living in fantasy land to think that US$5 million is super-rich. I read and re-read his comments to see if he meant to type US5 billion and made an error. If he did not make an error, I feel nothing but forgiveness and pity for him and his abusive behaviour in his fantasy land.
Here is an exerpt from the Wall Street Journal on:
““The Super-Rich Get Richer: Forbes 400 Are All Billionaires
By Frank Ahrens
Washington Post Staff Writer
Friday, September 22, 2006; Page A01
The news is: On this list, $999 million is chump change.
For the first time, all 400 Gotbucks on the Forbes tally are billionaires, from Gates (worth $53 billion) down to the bottom, Los Angeles semiconductor magnate Sehat Sutardja ($1 billion).”
Suffice it to say that I look forward to seeing an expansion of the number of new and beneficial issues; and not just “I speculate” and “I think” the same things over and over without new and applicable education for a wider audience..
U.S.... said,
January 16, 2008 at 12:54 am
Wow, thanks for really railing on me VGR2100. Seriously, if you’re so sure of your furniture idea, then gosh darn it, why don’t you open up a furniture store. No need to start big, since by your assumptions, you’ll own the entire world in 15 years. Good luck with that Mr. Financial Genius. I’ll just keep my US$5M+ and invest it wisely (not in furniture businesses that’s for sure….not with new construction screeching to a halt in the US). So many things sound good when they have no basis in reality. Not to sound abusive, but sounds like you have no actual business training whatsoever and you sound like a bad Dilbert comic strip. Oh well.
You have no idea how hard I am laughing at VGR2100 now…….seriously I can hardly type I am laughing so hard……. Don’t forget about the big bad conspiracy of the banks investing in furniture stores and preventing you from doing the same. I just knew the furniture stores were fronts for the banks….hahahahaha. Gosh darn it, if only I hadn’t missed my MBA class on “Business Valuation and Intellectual Property Analysis” then maybe I could have invested in a mattress store! hahahahahahaha
Winston said,
January 16, 2008 at 5:41 am
Money Express Financial Services loses its cambio license
http://www.jamaica-gleaner.com/gleaner/20080116/news/news4.html
MikeQ said,
January 16, 2008 at 6:56 am
Winston, thanks for the link.
Here is my question to you all. Does the FSC have any investigative power or staff? They seem to react only to media findings or investigative work. Why don’t they go out and find all these “alternative investment schemes” and issue cease-and-desist orders against all of them? They should know by now the names of all these schemes. The FSC has to be one of the most incompetent governmental bodies in Jamaica. Or is it that some individuals are untouchables, due to their names or political affiliations? Can somebody explain to me the inner workings of this statutory organization?
As stated in post #573, this guy Azan is a crook and he definitely does not have a license to trade securities and his claim of “investing his friends and family” money is a farce. I guess its members of this group that have been issuing death threats against his family/himself? I guess, his attempt to distant Money Express from the investment scheme did not work, since FSC saw through the whole thing (I guess FSC is good for something).
Winston said,
January 16, 2008 at 7:35 am
Mike Q .
Well, did they no raid the Olint offices with police and members of the Financial Investigative Division, so the answer is a resounding YES!!.
Mike,
Jamaicans are very suspicious people and this hold thing of conspiracy theory has some merit, as the authorities deal with different persons differently using the very same laws.
The BOJ in November 2006 revoked the license of Superioir Financial Services ltd(C+Plus company), in the case of Money Express(Azan) it was suspended, not revoked. Not sure why the C+ license was revoked as the BOJ never gave any reason.
The FSC has failed to act against Money Express Financial Services ltd , why?
Why have they not gone to the offices armed with warrants and sieze all documents before they are shredded to see what the entity was really up to.
At the time that this entity was being licensed, David Smith Olint was being given the run around regarding the said license, why?
Is it because Azan is well know, and David is a “nobody a upstart”.
It is these inconsistencies that continue to fuel the feeling that its “them” against “us” ie the big man a fight out the small man and its not without merit.
Justice must not only be done, its must be percieved to be done. Perception is reality in the eyes on a lot of Jamaicans who feel the “system” is stacked against them.
You therefore cannot say it is not true, as if you have not experienced it based on where you live or who you are, or associated with, then you do not feel their pain.
“Peterb Tosh said , People crying out for peace, but there will be no peace without equal rights(treatment) and justice..
If Ricky was in the USA he would be hauled before the Justice Dept just like they did to Carlos Hill and countless others.
Ricky will NEVER go before the courts in Jamaica and he will NEVER be subjected to the level of scrutiny that a Carlos or David would have been subjected to.
People are saying if this was C+ or Olint the powers that be would have be very vocal and very active.
Elizabeth said,
January 16, 2008 at 7:58 am
Well SAID so VERY TRUE!!!
MikeQ said,
January 16, 2008 at 8:26 am
Winston, you made some excellent points, especially, the one related to the closing of the C+ entity, Superior Financial Services Ltd. I read a gleaner article where the questions was posed as to the exact reason why this company license was revoke and the FCS executive director was very tight lip about the whole affair. Even more frightening, was the C+ reasons for not fighting this action? I have my suspicions and I think it has something to do with “on-going investigations” (the type/origin of funds going through this remittance services).
I will disagree with you on one point however. I think C+ is no small fish. There has been significant pressures (from very “high levels)” put on FSC not to move against C+ and it has nothing to do with its potential impact on the financial system in Jamaica (I hope you can read between the lines). The only reason FSC acted against C+ was due to the fact that Mr. Hill’s US background became public! Also, the only reason Money Express license was suspended, was due to the negative press concerning the total wipe out of investors funds. Azan has friends in high places, not necessarily due to his wealth. Why not issue C&D order against the other schemes? Why the piece-meal approach? Bottom line, FSC only act when negative information on a particular scheme hit the air waves.
Winston said,
January 16, 2008 at 8:52 am
Mike Q @ 595,
I guess we share some of the very same sentiments. The FSC needs to take a proactive approach to what is going on.
ALL “Alternative Scheme” are taking money and remitting profits to its participants hence are all doing the very same thing, so why act against some and not the others.
The next thing relates to NCB, they need to allow the regulators to do their job and stop trying to be regulators themselves.
Mike,
Part of the problem in Jamaica when you do business, is that you are never really sure what is true and what is not. It depends largely on who you are and who you speak with.
There are laws which were written back then and are in need of updating in this fast paced global village. You could setup a business based on your interpretation of the law or advise from Gov agency, only to find out later that the information which you was given was erronous.
The other thing, is that these multilateral lending agencies at times dictates what should and should not happen in our Country and suddenly you find the “law” changed or re-interpreted to accomodate some other entity, shafting you in the process.
We need a group of persons whose job should be adjusting our regulations in keeping with what exist in the first world and a one stop shop that can offer proper investment advise to new entrants.
This moving from one agency to another and speaking with a group of unprofessional people who do not know their “head from their tails” , will just not work.
We are not a very business friendly country, to much cryonism and injustice.
MikeQ said,
January 16, 2008 at 9:00 am
Winston: I wholeheartedly AGREE…I good not say it any better. But where is the outcry?
MICKI said,
January 16, 2008 at 9:53 am
I see that no one answered Marsha’s question about if CashPlus will be paying on April 1st. I also need to know, I am a C+ investor living in the UK and just can’t get a straight answer if C+ plans on paying out on that day.
catasha said,
January 16, 2008 at 10:42 am
Well, a cash plus rep. called me just this week and I was able to get answers to my questions. I suggest that anyone who needs information can email them, they do respond (was a bit alarmed, but also reassured) I was told that they are trying to resume payments by the end of March over into April. I am just holding on to those comforting words and hope that others can be relieved from this piece of info.
Winston said,
January 16, 2008 at 11:22 am
How can C+ say they are going to pay and pay what. Monthly consideration or Principal.
The fact is they have to submit and application(which none have done yet) then wait for approval before they can resume paying out anything.
I do not think C+ can make any payments before they are regulated. I am not referring here to C+ other business operations, just depositors.
Winston said,
January 16, 2008 at 11:34 am
Can CashPlus get a FSC License … ??
Read and then decide…
OK now that the government has spoken, what are the options that are now available for all alternative investment schemes.
Reading the document entitled ” SR-CONSUL-06/07-0016
SECURITIES (REGISTRATION AND PROSPECTUS DISCLOSURE) REGULATIONS, 2006″ its states amongst other things.
Under the heading delivery of reciepts section 2.5
(2) The Financial Services Commission shall not issue a receipt for a prospectus
if it appears to the Financial Services Commission that,
(b) an unconscionable consideration has been paid or given or is intended to be paid or given for promotional purposes or
for the acquisition of property;
(h) a person who has prepared or certified any part of the prospectus or is named as having prepared or certified a
report or valuation used in or in connection with a prospectus is considered by the Financial Services Commission not to
be fit and proper for that purpose;
(Disclosure: The above excerpts were taken from the FSC document which is available on its website)
C+ which has been paying 10% per month on its “securities” cannot under FSC guidelines seek to offer these unconscionable consideration if its seeks to register those securites.
Carlos who admits to having a run in with US regulators on financial matters, under FSC rules may not be considered a fit and proper person.
As it relates to the FX trading investment clubs, I am unsure how they will be treated as it relates to the registering of their “securities”.
Interesting time are ahead of us.
Rohan_GB said,
January 16, 2008 at 2:39 pm
588 I agree with you 110%, you made my day. I think US should come out and say what his motives are. Maybe he know something personal about C+ and Mr Smith that we dont know. The only thing I know he is their trading opponent for sure. By the way how many people in your club Mr US ?
U.S.... said,
January 16, 2008 at 3:04 pm
Give it up Rohan_GB….maybe you smoke too much and are paranoid. But I already stated my 100% altruistic reasons for posting. I am glad to hear it was more educated middle class than just poor people “investing” in Cash Plus since that was my primary concern that what meager savings … and hopes… would be wiped out.
Rohan_GB said,
January 16, 2008 at 3:57 pm
Thats what you want poor people to stay poor, listen to him. There is no slander and propagander you can spread that can change peoples mind about how to spend their hard earn cash. SO ITS TIME FOR YOU TO GIVE IT UP MATE!! Why dont you take you 3 degree and MBA and five mil and do some thing constructive. Did you get a licence ?
MikeQ said,
January 16, 2008 at 4:30 pm
Catasha, how could the rep say that when the plan by C+ is to convert “lenders” to “shareholders”? Are they going to pay 10 % dividend every month? I’m confused! Also, I can’t imagine the amount of interest payment ($Billions?) that is owed its lenders/shareholders at this stage, given the number of months that would have elapsed when the April time frame comes around.
Think&Check said,
January 16, 2008 at 5:37 pm
‘There is none so blind as s/he who refuses to see’
Why is it if one raises questions about these entites and the background charater of the principals you are siding with “big man” to make poor people stay poor etc.? I know it is the only way to console yourselves but I do hope your shareholdings in C+ will not be lost.
On the matter of C+ getting registered – Mr. Hill’s conviction on a charge involving dishonesty means he cannot meet the ‘fit and proper’ criteria. So the simple answer is not as long as Mr. Hill own’s 10% or more of C+ or participates in the management of C+.
By the way it is being reported that C+ has gotten a ’stay of execution’ from the FSC’s C&D order but with conditions including:
– Provide a list of its current members
– Take no new deposits/loans etc. etc.
U.S.... said,
January 16, 2008 at 7:49 pm
Keep on “investing” my friend Rohan_GB in “companies” like you trumpet on this blog. That would suit me just fine.
Joey said,
January 17, 2008 at 2:01 am
I just heard that Cash Plus is now defunct and the big guys left the island. I thought they were going to pay in April??? But now they are not. Where’s my money????????
Analyzer said,
January 17, 2008 at 4:56 am
Haven’t cheked this board in a while and thought I would take a look just to see what people are thinking. I am absolutely shocked that people can still be clinging to the hopes that these things are legit. I thought for sure the conversation would have changed, by now, to how to proceed about getting your money out. But it seems as though there are still believers here (or people that have vested interest in these schemes). Given all that’s happened in the past month (with the recent rulings, lack of payments, shutting of doors, and the general reaction of the schemes), how can anyone possibly think these guys are still making those returns? Numerous people have demonstrated fiarly clearly in my opinion, that those returns are not possible on a consistent basis.
Now we are going through a game of stall tactics by the schemes. Blaming of banks, government, and FSC as to why they can’t pay anyone right now. Just to be clear, if you read the documents of the recent rulings…it is very clear that Cash Plus is allowed to return money to investors (I verified this by phoning the FSC as well). They are just not allowed to accept any inflows. It is Cash Plus’s decision not to pay anyone…and the obvious reason is that they do not have enough to pay everyone.
People…this is clearly a fraud by a convicted felon. Do not be suckered. Wake up!!!
Winston said,
January 17, 2008 at 7:57 am
I do not see how C+ or any entity pay 100% of all depositors if they make a claim at the same time, it is just not possible.
No company , be it the biggest bank in the world can with stand a run on its operations at any time, it MUST collapse.
Banks invest its clients money, and does not keep it all liquid and hence would need to to convert some of its assets into cash to pay its clients if all come asking at the same time. They would run into a serious cash flow problem which could see them collapse, the 90’s was a classic example of this.
That said, there is NO WAY on earth that C+ can pay all its 30k clients if they all demand their money tomorrow, does that therefore mean its a ponzi, not really as their is just no cash available to do that. Is CashPlus a ponzi, well time will tell on that also.
On the issue of convicted felon, one issue here is that the USA is very harsh when it comes onto fraud and rightly so. The question is how many instances of fraud has occured in this country involving big business and big names.
How many of these persons have been convicted of any such crimes, “gimme” me just one name.
D.Williams defrauded us(tax payers) of over $450M and where is he,still doing business, still getting government contract and still fleecing tax payers.
If this person was in the USA doing business, where would be be now.
Folks again, open your eyes ,yes Carlos has been convicted, tried and served his time.
I get the feeling at times that in Jamaica, if you ever get convicted of a crime, then you are doomed for life and should not be allowed to earn a living as you are a “convicted felon”.
What is the purpose therefore of the prison system, is it not to punish you for crimes committed and hopefully you would have learned your lesson and is allowed to once again live.
If Carlos is stupid enough to commit the same crimes he has committed in the USA, here in Jamaica then we hope that the justice system will work and he gets whats coming to him.
Until then lets the system work , while we stop those who are still out there ripping of tax payers money.
Look at how we screwed up the the light bulb program, this has NOT happened in ANY other country that these bulbs have been distrubted and this is a fact.
In a small island that I reside everyone received bulbs and there was not one mention of “over payments”, missing bulbs, lack of documentation, lack of financial records etc etc. Why Why Jamaica.???.
catasha said,
January 17, 2008 at 9:35 am
Well, MikeQ, I am only reporting what I was told. For the most part I am quite nonchalant as it relates to getting interest. I am going to get my principal back and that is what matters most. Call me what you may, but I am not on this blog to be dragged and strained through negative vibes and connotations. I read to get other peoples views and to draw my own conclusions.
But thanks anyway for your genuine concern lets keep the focus and the peace.
Good read said,
January 17, 2008 at 10:34 am
USA Today Story…..
How do you make a lump sum of your life’s savings last?
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By Kathy Chu, USA TODAY
Working 26 years in the coal mines allowed Jim Foster to save $500,000 for retirement. But when Foster retires this year, his financial work will have just begun. Now he’ll have to manage that lump sum.
Foster, of Gillette, Wyo., is part of the steam-rolling generation of 79 million baby boomers, the eldest of whom turn 62 this year, who must decide what to do with retirement payouts that will usually come in one big chunk.
Share your experiences:
SHARE YOUR EXPERIENCES: Where have you gotten the best advice for managing your money?
THE FUTURE: Could early retirees lose some of their benefits?
DAY 1: Boomers’ eagerness to retire could cost them
DAY 2: Health insurance poses challenge for early retirees
DAY 3: Do older boomers have a financial edge over younger boomers?
Their parents and grandparents mostly relied on traditional pensions that paid them a lifetime stream of income. Boomers, by contrast, are the first generation whose principal retirement assets will come in lump sums from 401(k)-type plans.
FIND MORE STORIES IN: Foster | Boomers | Employee Benefit
==========================
Few have managed such enormous sums before. Yet, they’ll have to make investment decisions that will determine their financial security in a retirement that could stretch for decades, the longest retirements any generation has yet experienced. The risks are high. They could succumb to unwise investments. Worse, they could fall prey to unscrupulous advisers who exploit financial naïveté.
“I don’t know which way to go with my money,” says Foster, 60.
At stake is a gargantuan trove of assets. Boomers, who are now 43 to 62, hold $1.75 trillion in 401(k) plans, according to an analysis that the Employee Benefit Research Institute did for USA TODAY. Once they retire, they’re likely to transfer much of that money to individual retirement accounts, to consolidate their assets. At that point, they’ll face a dizzying array of investment options — far more than existed in their company-sponsored retirement plans.
This year, a record $301 billion is expected to pour into IRAs from employer-sponsored plans — a figure that will surge to $472 billion by 2012, according to research firm Cerulli Associates.
“The thing that worries me most,” says Martha Priddy Patterson, a director at Deloitte Consulting, is that “many people will have no idea how to manage (a lump sum). They’ll have to live on it for 30 or 40 years, and that’s a daunting prospect.”
Ask boomers about retirement, and though many are more educated and financially sophisticated than their parents, you’ll often hear confusion about when to retire and how, exactly, to invest their money.
In Harrison Township, Mich., Mike Tank took a buyout from Ford Motor last year and is still pondering how aggressively to invest his severance money, along with his 401(k) lump sum, for retirement.
“It’s amazing — everyone wants to tell you where to put your money,” says Tank, who turns 62 in May. The problem is, “I don’t think we’re getting any decent information. We’re just getting pitches.”
In Lenoir, N.C., Rosie Green says she plans to retire next year, at 62, even though she has yet to figure out how much money she’ll need in retirement.
“I know it’ll be tight,” Green says. If she does run out of money, she reasons, she’ll return to work.
For some, receiving retirement money in one big pile can lull them into thinking they’ll never run out.
“It’s this whole money illusion game,” says Jack VanDerhei, a business professor at Temple University. “Having $500,000 looks much bigger than somebody promising to pay you $50,000 (a year) for the rest of your life. You feel rich going into retirement.”
Unwise spending and health care needs can devastate even the healthiest nest eggs, says VanDerhei, also a fellow at the Employee Benefit Research Institute.
Danny Null, 60, of Greenville, S.C., fears that rising health costs could derail years of disciplined retirement planning. These expenses “will continue to go up,” he says. “That’s a concern.”
Scamsters pose threat
Regulators also worry that as the eldest boomers retire, shady advisers will seize on their need for financial advice — and fear of outliving their money — to sell them products that are, at best, inappropriate, and at worst, fraudulent. This is especially true at a time of market volatility, when people tend to fret about their portfolios and succumb to promises of outsize returns.
“With the dollar going down, with the fear of recession, it’s a scammer’s paradise,” says Joseph Borg, past president of the North American Securities Administrators Association (NASAA). “Now’s a good time for a scammer to say: ‘Do you really want to risk (your portfolio)? Let me give you something with a (high) guaranteed return, where you can’t lose your money.’ ”
Already, 44% of investor complaints in the 2005-2006 fiscal year came from people 50 and older, compared with 28% the year before, according to preliminary numbers from the NASAA. Faulty investment advice is likely to surge as the eldest baby boomers swell the retiree population and seek places to park their lump-sum nest eggs.
“When you’re facing retirement, and you’re feeling desperate (because you haven’t saved enough), you’re more apt to fall for those too-good-to-be-true pitches,” says Jean Setzfand, director of financial security for AARP, the advocacy group for those over 50.
By law, workers who have more than $5,000 in their company’s 401(k) plan can leave their money there, even after they’ve retired. But most retirees over 60 choose to move their 401(k) money into an IRA or similar plan, according to the Employee Benefit Research Institute. In 2006, the average sum rolled into an IRA was $334,176, Cerulli says.
Financial advisers are “drooling” at the prospect of managing this huge pool of assets as boomers retire, says Sheryl Garrett of the Garrett Planning Network, which caters to middle-income families.
Boomers’ lump sums are generating a cacophony of sales pitches from the financial-services industry. Last year, Bank of America launched its largest-ever retirement-related ad drive to attract rollover dollars. The AXA Equitable insurance company has run TV and print ads featuring an 800-pound gorilla pitching the AXA variable annuity to ready-to-retire investors as a way to lock in guaranteed income for life.
As boomers retire, “more money will be coming out of these accounts than any other time in history,” says Ed Slott, an IRA expert in Rockville Centre, N.Y. “Everyone’s looking to access this money.”
A Ponzi scheme
Especially scamsters. In Sterling, Ill., Nevin Gillette pleaded guilty to mail and wire fraud in May in a Ponzi scheme that securities and postal inspectors say fleeced many investors who had retired or were on the verge of retiring. Gillette persuaded investors to invest in a product he touted as offering a high return, according to the U.S. Postal Inspection Service. He used money from new investors to pay other investors some of their money back but also funneled investors’ proceeds into personal items, postal inspectors say.
In March, Corey Minor, of Dallas, pleaded guilty to mail fraud in an investment scheme that regulators say bilked clients, including members of his church, of millions of dollars. Minor persuaded at least 64 people to invest in so-called securities, court documents indicate. Postal inspectors say that many of these people had rolled money out of their 401(k)s to give to Minor but that he used this money on himself. Minor was sentenced to 20 years in prison, Gillette, to 11 years.
In a sign of how intense the competition has grown for boomers’ assets, a growing number of advisers aren’t waiting for them to retire. They’re arranging to give seminars in workplaces, urging boomers to retire early and move their 401(k) money into often-inappropriate high-risk investments, regulators say.
“Early retirees are becoming a new target,” says William Galvin, secretary of the commonwealth of Massachusetts. “They’re coming into a large pool of money, and many of them are very unsophisticated.”
In particularly egregious cases, the advisers are persuading people to cash out of their traditional pensions — roughly half of private-sector workers can take a lump sum from these plans — thereby converting a guaranteed income stream into an investment beholden to volatile market movements. These investors are typically people with scant financial knowledge. They’ve “worked all their lives, had expected a comfortable retirement and instead find they have to go back to look for work” when their portfolio tanks, says Howard Hoffman, a California lawyer who’s represented investors in early-retirement cases.
These pitches have become such a problem that the Financial Industry Regulatory Authority, a self-regulating body for brokers, last year began a “sweep” of 16 brokerages’ sales materials and seminars related to early retirement. FINRA has also ordered two firms to pay more than $30 million in fines and restitution to settle charges that they let their brokers entice telecom and oil company employees to retire early with promises of exaggerated investment returns. The firms, in paying the fines, didn’t admit or deny guilt.
Last month in Massachusetts, Galvin filed a complaint against A.G. Edwards for allegedly allowing a broker to use “high-pressure cold calling, along with false promises and guarantees” to persuade utility-company retirees to invest with him. Retirees lost hundreds of thousands; the state is trying to recover that money, it says. A.G. Edwards declined to comment. The broker couldn’t be reached for comment.
Edward Rodriguez, of Everett, Mass., invested with the broker, according to Massachusetts regulators. Rodriguez, who retired in 1999 at age 62, says the broker promised him he could “double his money.” During 20 years of toiling underground for a utility company, Rodriguez had saved $180,000 — a sum he thought would “make life a little better” in retirement.
Rodriguez, now 71, blames, in part, his financial inexperience. He’d asked the broker to put his life savings into “safe things” but doesn’t believe that happened. A few years after he first invested with the broker, his portfolio plunged to less than half its original value, he says. Today, he has $19,000 to last through retirement. Rodriguez says he’s living “day to day,” renting a room and subsisting mainly on his Social Security checks.
Pat Keyes, 67, who entrusted his money to the same broker, according to Massachusetts regulators, says he lost a quarter of his nest egg. His wife has had to return to work. “We should be in the sun in Florida, but it’s not going to happen,” says Keyes, of Winthrop, Mass.
Tank, the retiree in Harrison Township, says he avoids scams by managing his money himself. His concern? Conflicting advice can be “overwhelming.”
He knows it’s not just scams that pose a risk. One mistake by a do-it-yourselfer can sink a retirement portfolio. “Once you do lose your money,” Tank points out, “you don’t get another chance.”
Share your experiences: Where have you gotten the best advice for managing your money?
Rohan_GB said,
January 17, 2008 at 10:42 am
Ok why dont you all go to cash plus ofice and put up a plack card and demonstrate include your concerns as well for public money. Stop hiding behind the computer screems and tell it to Mr Hill like it is in his face. Thats what they do in the USA and UK. Its freedom of speech they cant hurt you. I probably will join you. Till then I will blow my trumpet very loudly………
thomas said,
January 17, 2008 at 11:20 am
Good News cash plus has contacted a friend of mine and they want to roll over the funds until march. So payments should soon be up again
Good read said,
January 17, 2008 at 11:48 am
Yep – that is good news….they want you to “roll over” fictitious numbers on paper. Yep that really is reassuring (sarcasm).
Prudence said,
January 17, 2008 at 12:01 pm
Rohan_GB – Who are you? Make yourself known so that those who’ve invested on your advice can find you.
NOEL SAID said,
January 17, 2008 at 12:13 pm
I came across this page two days ago, and I found it interesting, funny and sometimes informative. Naturally I got a kick out of the back-and-forth jabs at each other.
I am somehow perplexed at the ignorance and naiveté of some of these so-called investors, blaming the government and the commercial banks and everyone else, except themselves and the head of these investment schemes like Carlos Hill etc., for the predicament they are in.
In July 07 these fabulous investment opportunities were brought to my attention by a brother-in-law (an investor), and without hesitation I told him that it was a Ponzi scheme. Immediately, I also blamed the government for allowing these companies to perpetrate a fraud on the Jamaican people. My brother-in-law showered praise and Carlos Hill, how smart and knowledgeable he was, and regarding him as a financial genius. I told my brother-in-law that any company that offered 10% per month was not smart, but desperate.
The jig is up with Cash plus, the party is over, and delay tactics is unacceptable. There should be no pussy footing around with Carlos Hill and his Cronies. Investors need to tap into the reservoirs of their common sense to understand that every extra day this criticality ill company (C+) stay alive, the less they will recover for each dollar invested.
I would like someone with a financial or legal background to comment on the possibility of Cashplus Investors as a group, forcing the company to produce an audited financial statement.
U.S.... said,
January 17, 2008 at 1:10 pm
Noel Said —- Nice post. If you really want a laugh, go to youtube.com and watch Carlos Hill and others talk….. What is not funny is the people in the audience who are going to lose money putting their faith in these people. A financial felon is no financial genius.
U.S..... said,
January 17, 2008 at 2:28 pm
I am curious Rohan_GB, you called me out and I have responded what my motives are, plain and simple. You stated that you are in college….I am guessing you must be a sophomore which means “wise fool”, with just enough knowledge to make it dangerous. Funny eh….just not with other people’s money!
MICKI said,
January 17, 2008 at 5:29 pm
Did anyone hear that the Cease and Desist order for CashPlus was lifted?. Let me know if it’s true.
Elizabeth said,
January 17, 2008 at 5:32 pm
Temporary with conditions attached. But today some of their a/c’s were closed at BY NCB…..
MICKI said,
January 17, 2008 at 5:45 pm
So does that mean they will be paying?
Winston said,
January 17, 2008 at 5:57 pm
Folks,
There will be no payments made. The associated companies in the CashPlus group will have there accounts closed. These include Drax Hall development, CashPlus Commodities, The telecom companies.
The CashPlus Limited accounts have not been closed however (according to Harold Brady). Confirmed by the General Counsel of NCB.
Olint accounts are also affected, ie NCB can close Olint accounts. So both C+ and Olint will be closed.
Winston said,
January 17, 2008 at 5:59 pm
NCB has actually closed all 17 a/c from CashPlus in keeping with the court ruling today.
Winston said,
January 17, 2008 at 6:04 pm
CashPlus has actually provided audited financial statements to NCB in the past, however they DO NOT have upto date audited Financial statements.
Correction – General Counsel (DAVE GARCIA) of NCB says that Court did NOT grant an order to close Olint’s account. That case will be heard next week thursday. He was just on Nationwide, so the Nationwide initail report was in fact incorrect.
Think&Check said,
January 17, 2008 at 6:25 pm
Post 610 Winston – you are all over the place here – C+ has contended that they do not offer securities so I do not get the comparison to banks and a run! If C+ is borrowing ppl’s money to run a HIGHLY PROFITABLE conglomerate then presumably the business can still operate without taking new money and will be able to pay interest on these loans but if all it is doing is taking from Peter to pay both Peter and Paul then clealry there will be major issues. I do agree that banks can’t survive a run because it does not keep their customer’s money stacked in their vaults – some of it is in loans to some these very customers, land, buildings etc plus other investments that can easily be sold (stocks and govt. securities).But, cash plus is not a bank/securities dealer so they should still be generating billions that will allow them to make at least their interest payments without taking in new money.
As a matter of fact the few weeks reprieve should have allowed put C+ in a better cash flow position as they were not paying out.
I think if you believe this was a legitimate business making returns enaough to pay 10% or more per month then you need to tell this forum what the fat white guy in the red and white suite got you for christmas!
MikeQ said,
January 17, 2008 at 6:47 pm
Winston, where did you guys get the info on the accounts being closed. I thought they got an injunction preventing the closure of these accounts. I’m in the states, so I depend of the newspaper for my info or what is posted on this blog.
Winston said,
January 17, 2008 at 7:03 pm
I did not post @ 610, that was someone else.
I think you need to read my previous post to get where I coming from. You simply cannot read one post and then jump to conclusions. This is part of our problem, we do not seek to get all the information before making a decison, which ends with us misinterpreting the information that has been posted.
Read my previous post @ 570,575,579,580,593,596,598,602.
Peace
MarshaMarsha said,
January 17, 2008 at 10:49 pm
Is there a definitive date of if and when C+ will be paying?.
VGR2100 said,
January 18, 2008 at 12:18 am
Those who are smart reading, synthesizing, evaluation and application of math realize the mention of furniture is used merely as an example for calculation purposes only, whereas in my original submission, I previously outlined the names of companies that Cash Plus bought through a combination of mergers and acquisitions
The business transaction pricing analysis and profitability planning and forecasting is in fact widely and wisely applied to many economic sectors business transactions and products such as:
Utility
Consumer Cyclical
Consumer Noncyclical
Energy
Industrial and Multi-Industrial
Basic Industry
Technology
If a business man/woman knows how to buy, when to buy, and where to buy his inputs; how to look at his suppliers’ discount codes; and he/she knows how to calculate and determine his target wholesale price, then he/she can evaluate whether he can quote (and acquire orders from) his clientelle, let’s say, “$$y” Retail Price that the market can bear, and realize a 30 percent profit.
(Confidential computer models of this are available to, and used by, many employees whose responsibilities include business transaction pricing analysis and profitability planning and forecasting in many vending and manufacturing Fortune 500 corporations).
If the bank evaluates the business man/woman’s monthly financial statement including income projections, actuals and variances for the current or last year, and then also evaluates his/her historical financial statements including yearly income statements for the previous 3 to 5 years; and if the bank sees a trend that that he/she has achieved the above profit levels and above 4 or more inventory turnovers per year, then the bank will have determined from its application of various Ratio Analyses (which I will not bore readers with here), that the business man/woman’s business represents a fundable loan project.
Again, this can, be be applied in any of the economic sectors already mentioned and more.
This has been done time and again for many intellectual property/patent owners/ operators/manufacturing business enterprises and major financial institutions for several years straight.
Hence, Cash Plus Group and other investment clubs can do, and have done, well at beating the market in and achieving returns of above 10 percent per month; that is:- above 120 percent per year.
That is why the Premier League Club Association (PLCA) Chairman, who is Harvard educated and experienced as a former Minister of Finance and Planning and former Prime Minister of Jamaica, re-invested in Cash Plus the $150 Million donation made by Cash Plus to the PLCA.
US can say all he can, laugh all he can, and be abusive as much he he wants; but he cannot erase the foregoing historical facts. However, he cannot stop being abusive. whereas (it has become crystal clear and apparent), he might have been so badly abused as a child. Hence, he has to abuse others. As such, I feel so sorry for him.
The Right Excellent National Hero Sir Alexander Bustamante would have been in defense of the Investment Clubs for the upliftment of the poor ordinary Jamaican people. He was the one who had to call the Colonial Bank (now NCB) and other such banking institutions to start hiring black skinned people or risk the government’s action of not putting government money into those banks.
Sadly, the contemporary political families in Jamaica today are still 20 years behind time, and jealous that the Investment Clubs were not their entrepreneurial vision for Building Jamaica for Jamaicans, and Making the Poor Ordinary Jamaican People’s Money Earn Money For the Poor Ordinary Jamaican People.”, who are determined to be the new breed of entrepreneurial and risk-taking investors.
I will continue to support the Investment Clubs concept and Cash Plus supporters.
U.S.... said,
January 18, 2008 at 2:36 am
VGR2100 (aka “Dilbert” from the comics) – Oh I totally forgot about “through a combination of mergers and acquisitions” … yep that’s the magic. I combine two losing companies, which I also overpay for, and suddenly I can pay out 10% per month. Stupid me, I should have consulted the “Confidential computer models of this are available to, and used by, many employees whose responsibilities include business transaction pricing analysis and profitability planning and forecasting” or whatever business psycho-babble you want to type. That’s how they “beat the market”, eh? By the way, I was so badly abused as a child…my parents forced me to save mi money in a piggy bank and then earn a meager interest rate in a passbook savings account!!! Oh, the shear horror of it all, I can hardly type this now with the flashbacks and all. If only I had been able to do “Ratio Analyses” as a child then I would have “intellectual property” upon which to pay the 10% per month too…. Oh boo hoo boo hoo boo hoo. If only the Right Excellent National Hero Sir Alexander Bustamante was there to save me from such abuse! Don’t feel sorry for me, instead make the world right by investing in Cash Plus, oh please oh please.
Seriously, do I need to come down there and teach you actual business courses or what?!?!
Winston said,
January 18, 2008 at 5:58 am
Futures, Fx and Commodities Regulator on the way.??
For those who have been reading my post, I have been saying this for at least two weeks that we need to look at a new regulatory agency to deal with Alternative investment scheme.
Well, Shaw hinted at that during his speech at Mayberry Investor Forum this week , here is the link
http://www.jamaicaobserver.com…..MING__.asp
Winston said,
January 18, 2008 at 6:23 am
Banks now going to offer FX products @ high interest rates.
What on earth is going on, are the banks now planning to compete with Olint/Worldwise. ?? hmm
This newspaper (Jamaica Observer)understands that several local financial institutions have sent staff for foreign exchange trading with the view to create products for clients that demand higher returns than what is offered by traditional investment products. In fact, over the summer, the parent company of Scotiabank Jamaica, acquired TradeFreedom Securities Inc, an online broker that facilitates trading of Canadian and US equities, options, futures and foreign exchange
Winston said,
January 18, 2008 at 6:48 am
Over $200b invested in alternative “schemes”. Now the banks are going for a portion of that amount as stated in the post above. Again , interesting times are ahead of us.
At the end of the day the investing public will get better offerings from the traditional financial institutions, thanks in part to public demanding better and the coming on stream of the alternatives.
So out of every bad situation, there is some good. At least the banks have opened their eyes are now seeing the light.
I think this marks the end of the alternatives if they do not come together and form some self regulatory agencies, similar to the NFA in the USA. In that way the could come up with rules and regulation on which they will be governed and forward these to the “new regulators” that may be coming on stream. I guess the government is now considering having an Agency like the CFTC which exist in the USA.
The Jamaican public will no doubt be the winner in the end. !
http://www.jamaica-gleaner.com/gleaner/20080118/news/news7.html
Eve said,
January 18, 2008 at 8:01 am
There is an interesting piece of development that came to light yesterday, that I think most, if not all, of us did not know. The conglomerate, call Cash Plus Limited, does NOT own all these entities that are supposedly part of Cash Plus Limited!!!!
I came to this conclusion based on the information obtained from today’s Gleaner Article where, Cash Plus Limited suit in the Jamaican Court of Appeal, resulted in 9 out of 26 NCB accounts that will remain opened. Apparently, the other 17 accounts did not fall under the Cash Plus Limited umbrella and as such, they cannot bring suit. In other words, these 17 accounts (if they are aligned to say 17 entities) will have to bring 17 separate cases to the Court of Appeal.
http://www.jamaica-gleaner.com/gleaner/20080118/lead/lead4.html
Below is a subset of the article:
“……In discharging the injunction yesterday, in respect of the 17 accounts for affiliated companies of Cash Plus, the Court of Appeal said those companies had not filed suits and there was no ostensible authority from them to enable Cash Plus to act on their behalf……..”
Cash Plus Limited and its lawyers have to be one of the most incompetent set of people there is. Why would you bring an appeal to court, without knowing what are the “true” legal corporate structure of your companies? What does that say about C+, not to mention their lawyers?
Another question that jumps out at me is; who technically owns these entities or combination of entities? What, if any, Financial Statement issued by C+, included all these entities (conglomerate)? Why have the journalists at the major newspapers not pickup on these facts?
Could someone who is more educated than I am (I only finish the 6 grade), tell me where I’m wrong and why the conclusions that I came to are inaccurate.
Winston said,
January 18, 2008 at 8:34 am
This is not news re CPL
The lawyers did a poor job in not representing the other entities.
See attached.
http://www.cashplusltd.com/index.html
LORA said,
January 18, 2008 at 8:49 am
Is there any word from CashPlus that they will be paying?. I heard that CashPlus are telling investors that if they leave their money in for 3 more months, they will be paid an extra 4%. Is this optional, or if one wants their money out they can get it. So confusing for people overseas who are far away from the actiion.
Eve said,
January 18, 2008 at 9:39 am
@Winston:
Could you expand on post #636? Can you tell be what is the name of the Holding Company for all the Cash Plus Entities? Is it “Cash Plus Limited” or some mystical “Cash Plus Group of Companies (not a registered Company)” or “Unknown”? It appears that it is the latter, since even their Lawyers are not sure, hence the outcome that I alluded to in my Post #635.
@Lora
Despite what you might have heard, there is nothing that stands in the way of Cash Plus refunding your principal. The Cease and desist order certainly does not prevent them from doing so. Ask yourself this question; if there is a barrier that is preventing them from paying back their lenders’ principal, would they asking them to roll their money for another 3 months? Also, do you really believe that C+ has the capacity to pay an additional 4% on top of their 10-15 % monthly obligations, plus the months of accumulated unpaid interest payments? The unaudited statement they submitted to FSC shows that they had cash on hand of about JA$180 million. This can only paid about 1,800 of their “$100,000” lenders. That is about 5 % of their estimated 40,000+ members C+ claim they have. Keep in mind there are a large pool of lenders that invested way more than $100,000. I did read where one of C+ executives stated that since that Financial Statement was issued, their invested $(intake) have increased exponentially. What he did not say was that the debt also increased exponentially.
With all these lawsuits that C+ have been involved in, I’m sure these lawyers fees (and they don’t come cheap) are slowly eating away at their available cash.
Winston said,
January 18, 2008 at 10:25 am
Cash Plus Group Limited – Registry # 70002 appears to be the where all the companies are registered under.
Now I am not 100% sure, but that appears to be what is.
http://www.orcjamaica.com/search/showresults2.asp?searchtype=company&search=simple&busname=cash+plus&srch=Search&page=2
Eve said,
January 18, 2008 at 10:30 am
Can one of the big supporters of C+ answer I really dumb question that has been at the back of my mind for some time. Why doesn’t C+ setup their own bank, they seem to be involved in everything else. It is so ironic that an entity that is so anti-banking would have all their money in a traditional bank making this measly % per month and at the same time paying out this astronomical amount in interest per month! Why take legal action against an entity that clearly does not want you as a customer? Finally, why should NCB care what C+ is doing, if they have millions (or even billions) of C+’s money to play with, generating significant returns for the Bank? Can someone in the know explain the logic behind all of this? It’s not making sense to me.
Winston said,
January 18, 2008 at 11:03 am
I will give an answer, but dont consider me a BIG C+ Supporter.
Its not easy to get a commercial banking license in Jamaica. JMMB I have been made to understand as been trying without success to get a license here in Jamaica.
JMMB instead went to Trinidad and acquired a bank instead due to frustration with the Jamaican regulators. (Co owned).
Link here.
http://www.jamaica-gleaner.com/gleaner/20070803/business/business9.html
Eve,
All business must use commercial bank for their operations whether they like it or not, as what you will note is that every bank in Jamaica (except Scotia) has accounts with NCB. NCB is like the clearing house for all banks.
If you get a cheque say from JMMB it is issued against an account at a commercial bank, as JMMB does not operate a commercial bank.
JMMB offers superior rates to a commercial bank, so why them would they keep money in an account paying next to nothing, its just the way the process has to work.
So the long and short is that C+ MUST bank with a local commercial bank, like it or not.!!
Eve said,
January 18, 2008 at 11:18 am
@Winston, if that was the case, the Lawyers would have filed the case under Cash Plus Group Limited versus NCB and then all 26 accounts would be left untouched for the time being. Do you see my logic? By the way, the name you indicated does not appear under the “structure” on their wed site. Also, based on the Companies Office of Jamaica , Cash Plus Limited (Gaming & Betting) was the first entity formed (based on the “Company No.”), followed by Cash Plus Group Limited (Investments)
The way to do it would be to setup say, “Cash Plus Group Limited” first and setup the subsequent entities, with Cash Plus Group Limited as the “owner” of each sub-entity. That way, CPGL will be the father/mother and the sub-entities will be the children. You could also append the coporate documents at anytime to accomplish this same structure. That way, all lawsuits would be filed under CPGL and there would be no need to spell out the individual entities separately. Apparently, this has not been done and hence the reason the Judge entered the ruling as he did.
Eve said,
January 18, 2008 at 11:58 am
I was only being sarcastic when I made the comment about C+ opening a bank. By the way, prior to the mid-to-late 1990’s, it was not very difficult to open a Commercial Bank. What the government did in the 90’s was change the requirements as so far as the % of liquid asset to hard asset that a bank must maintain. This was what led to the collapse of the most banks, including NCB (see Dr. Paul Chen-Young’s Book, “The Entrepreneurial Journey In Jamaica..When Policies Derail”). So, if you can meet the %, it is not that difficult to start one. What about RBTT? Is that organization a commercial bank?
The other point about who owns these Cash Plus entities goes to the issue of when (or if) C+ fails, will its lenders be able to go after the assets of these entities? I doubt that seriously, due to how these entities are structured and the fact that the C+ entity that is borrowing the investor’s fund is in no way CONNECTED to the hard asset entities. Does that make sense?
Winston said,
January 18, 2008 at 11:58 am
Eve ,
I agree with you. something is not right here.
Winston said,
January 18, 2008 at 12:10 pm
Eve @ 645 RBTT is Royal Bank Of Trinidad and Tobago, so yes there are a commercial bank.
As it relates to cashplus, the arm borrowing is not connected to the other entities in the group.
There will be problems if the company assets has to be liquidated. This ,I think may be part of the reason he is talking about placing all the entities under one umbrella, as right now is disjointed.
Guess we will just have to see how things turn out.
Think&Check said,
January 18, 2008 at 12:45 pm
The use of the word bank generally refers to commercial banks. The commercial banks (BNS, NCB, RBTT, FCIB etc.), are members of the local Clearing House (for cheques) so they issuee their own cheques, commercial banks therefore need not have accounts with each other. Other entities such as the investment houses, Bldg. Societies, Credit Unions, Merchant Banks are not members of the clearing house so they need to have accounts with Commercial banks to be able to issue cheques.
Eve, though you were being sarcastic about C+ owning their own bank I will comment: I suspect that this would be impossible given Mr. Hill’s past – he would not meet the fit and proper criteria.
On the matter of assets owned by companies associated with C+, does anyone know whether ownership of these assets has been transfered to the C+?
LORA said,
January 18, 2008 at 2:44 pm
Anybody know when CashPlus will be paying?
Gemini said,
January 18, 2008 at 3:49 pm
@ Lora….I suggest you try to log on to the Jamaica Gleaner/Observer website daily to follow all what is happening regarding alternative investment schemes in Jamaica.
MikeQ said,
January 18, 2008 at 4:31 pm
@Lora;
Why don’t you call your borrower, Cash Plus, and ask them. In fact, tell them that they have defaulted on the loan and you are calling it in. Please stress the penalties involve in not living-up to the terms of the loan and your intentions to pursue all legal avenues, inorder to enforce the terms of the note.
Another way might be to use the badman approach. You might indicate to Mr. Hill that you know where he lives and your intention to send your cousin, the Don of Tivoli, to personally collect the interest, penalties and principal that is overdue, or else…
Eve said,
January 19, 2008 at 8:43 am
FYI
http://www.radiojamaica.com/content/view/4755/26/
Rohan_GB said,
January 19, 2008 at 3:34 pm
Well done Mr. U.S my softmore days done from 1994. Now I know is pure speculation you are on here with. Pure bull crop. You show your weakness by calling your oponent ‘idiot’ all the time. Clearly the HYIs have some effect on you financial entity. You continue to spead propaganda on your competitors by using false accusation, slander and defamation of charactor.(I bet he is gonna call me an idiot)
@ 616 Dear Prudence, who are you??? I have been here for a while and never heard of you before. Can you point out to me where I did actually advised people on investment? It would be stupid of you other others to take investment/financial advice from, How can I advise prospects and that is not my field.
The debate is for and against HYIs and I took my stance for alternatve investments. Thats where I stand. Here people can express their own personal opinion and facts (with substancial evidence) WE ARE EXPECTED TO EXPRESS OUR OPINION WITH FEELING THREATEN OR INTIMIDATED.
I will stand up for alternative investments no matter who they are. And I am for regulations as well.
@612 Good Read is that your work. Why do you have to cut and paste the whole article here???
@630 You will be unpopular for this, well said, I support you all the way.
@632 Thats what we want. Mr Shaw is on the right track. Its a financial revolution. So the bank are setting up thier own alternative schemes and who not buying out are sharing. I certainly will not the banks trade for me, now they relized what they missing out on.
VGR2100 said,
January 19, 2008 at 3:49 pm
“Irate Cash Plus investors storm NCB branch”
I respond as follows:
1) This could be the start of a Ghandi-type “Peacful Passive Resistance/Civil Disobedience against
the commercial bank (which started in oppressive colonial times of slavery as the Colonial Bank),
the Prime Minister (who said from the recent conference in Africa that he only cares about the banks (not the ordinary Jamaican people?), and
the Financial Services Commission (which does not care about the ordinary Jamaican people),
as well as for emancipation from mental slavery of the courts (which also started in, and for the protection of, the oppressive colonial times of slavery such that Law and Order was not used to address social needs of the ordinary Jamaican people).
2) The ordinary Jamaican people must not depend on the political families of the political parties…In 1986, I realized that they are no longer the parties of the patriarchs National Heroes The Right Excellencies Sir Alexander Bustamante and Norman Manley.
3) This is the ordinary Jamaican people’s opportunity to “stand their ground” in having joined the investment clubs of their own free will; now promptly establish the “Jamaican People’s Investment Party”, field 60 candidates at the next general election, vote and gain a popular majority of seats in parliament; and add legislation that
encompass “The Investment Club Encouragement Act”;
extend the “Export Development Encouragement Act” 15 year tax holiday to the ordinary Jamaican people; and
extend the “Industrial Development Encouragement Act” 10 year tax holiday to the ordinary Jamaican people.
As one demonstrator said: “Cash Plus has showed us that the banks have been robbing us and many of us were suffering, couldn’t afford school and now we can afford it…we want freedom!” another said.”
4) As for “US”, given his alleged 3 degrees and MBA education, why is it that he only has a liquid $5 million (which he so pitifully, ignorantly, and erroneously define as “super-rich), while Bill Gates (who dropped out of college) is worth $54 billion?
It makes me wonder if “US” can do the math and learn the difference between $5 million and $54 billion. It seems that he has not learned anything more than what he was taught during his childhood. I will not say the abusive words and phrases he uses on the blog to Cash Plus supporters, as he thereby indicates that he was frequently called those words and phrases during his abusive childhood.
Also, it seems that he never learned that $999 million is considered chump change among the “super-rich”. “US” probably believes that $5 million is the same as $5 billion.
VGR2100 said,
January 19, 2008 at 4:16 pm
Re: Investment Clubs and the SEC in the United States:
It is false to say that in the USA, investment clubs must have no more than 100 members.
Smart detailed readers of http://www.sec.gov “Investment Clubs and the SEC” in its entirety read for themselves that an investment club that registers with the SEC can have more than 100 members.
To qualify not to register, a “private investment club” must have no more than 100 members.
Do not let others read for you. Read for yourselves at http://www.sec.gov “Investment Clubs and SEC”.
Never forget, the detractors are bent on trying to mislead Cash Plus supporters so that the detractors’ bank friends (CEO, management and control shareholders) can continue to (as one marcher in RadioJamaica.com report sued the word) “rob” the ordinary Jamaican people (whose “minds’ eyes” have been opened by Cash Plus and OLINT).
Winston said,
January 19, 2008 at 4:29 pm
Vrg2100 @ 656.
I post that earlier myself, waited a week and no one challenged what was said which was obviously wrong.
Again I say read and do your own research. see my post at 598
U.S.... said,
January 19, 2008 at 11:16 pm
Well VGR2100, I’m only 32 years old…… So, the way I figure it I already have 5000 times more money then you…. hahaha
Winston said,
January 19, 2008 at 11:33 pm
This verbal confrontation between US & VGR2100 is rather childish, come on guys lets move on!!.
Its really adding no value to the board.
marta said,
January 20, 2008 at 5:07 am
How a money trader went bad
http://jamaica-gleaner.com/gleaner/20080120/business/business3.html
This is a good read for everyone
Eve said,
January 20, 2008 at 6:08 am
@Winston (#656). Agree!!!. Also, your post numbers are off or does not match up with mind.
rohdoug_gb said,
January 20, 2008 at 10:52 am
Winston love to spread romours? Or was it a mistake? RE: Cash Plus accounts closed (all a dem)
rohdoug_gb said,
January 20, 2008 at 11:14 am
@655 thats all you want to do brag about your fortune and laugh at the less fortunate, laughing your want to the banks. Only you alone must make money. And those you win over, are willing to listen to you, not reading and research and form their own opinions. They all using their emotions and not the hard facts but willing to have other people inposing their false ideology on them.
They dont want to take the risk, well stay put and make you contribution elsewhere. This blog is for people who share the same idea of investing in HYIP whether you like it or not.
rohdoug_gb said,
January 20, 2008 at 11:20 am
The HYIPs dont take cash. They take manager’s cheque from the bank. Can some one explain how can money laundering accurs here. Banks must be blamed then.
So they(the banks) are planning to use seprate entites to trade on their behalf now. Well well!!
Eve said,
January 20, 2008 at 1:18 pm
@Rohdoug_gb, you can simple use small amount of say US$9,500 (all dirty money) to purchase manager’s checks at say 30 different banks (maybe 3 checks per bank) and deposit these into HYIP. This would be (3×30x$9,500) US855,000. You can repeat this as much as you want over time and with different purchasers of the checks. The cash purchase can go undetected by the banks, if done properly. You now have millions of $ of illicit funds deposited into these HYIP. You then turn around and ask the HYIP for your money back and now you have one big fat check from the HYIP drawn on a reputable Bank, from supposidly, a reputable HYIP. That my friend is a “clean”/”rinsed” money. You can take it anywhere in the world and deposit it, no question ask. This of course, is the basic form and there are hundreds of other (elaborate ways you can do it!
Now, an unregulated HYIP do not have to confirm to any anti-money laundering requirements and is free to do as they please. Very simple eh?
Eve said,
January 20, 2008 at 1:42 pm
By the way Rohdoug_gb, it not very easy to open a bank account in jamaica anymore. They typically want you to have two Justice of the Peace sign some forms, vouching for you. I went down to Jamaica and opened a USD account with my mother and deposited about US$5,000. After opening the account, the person who handled the transaction, ask me if I would meet with the manager of the branch. I found this weird, but agreed. We had some small talk and that was the end of that. However, it dawn on me that what he was really doing, was only trying to lay eyes on me and to feel me out. During the transaction, the lady wanted to know approximately how much money I intend to deposit over time in this account.
Jamaica does take money laundering very serious these days, given the lack enforcement in the past. The limit on funds use to be US$50k (cash), without triggering any reporting to the government. I do not know if they have decrease this amount, given the fact that in the US, its US$10K. Of course they look at multiple smaller and frequency of deposits as part of this triggering mechanism. People in Jamaica have many ways to get around this or they take their money to the Cayman Islands, the “motherland” of money laundering.
catasha said,
January 21, 2008 at 9:49 am
Well all I can say for myself at this point or to any of us is that this is the promise we were given, “All of us will not be rich, but no one has to be poor” I am sure that sound familiar.
Let’s meditate on these reassuring words.
Have a great day everyone.
Rohan_GB said,
January 21, 2008 at 2:09 pm
EVE; Point taken but, the money raw cashwent to the bank first. Who is supposed to check where that money is coming from? The HYIPS are sure the money is coming from a ligit bank that sells a managers’ check. I see you gave me a managers check from areputable bank I would not ask any question.
I read on a blog that people set up auto parts business and although not selling much, they take in heap amout of lodgement.
New Bank Account; I went to reactivate my account after couple of years and they asked me for reference which was annoying and inconvenient. On top of that I need some one who is a member. After 7 years out of Jamaica I dont know anybody.(so to speak). The banks in Jamaica are still doing old fashion banking, where you have to meet the manager and the manager know all the cusomers, waste of time.
Every country and institutions opperate different. I went to open an account in a UK bank, they asked me for 3 months bank statement from my other bank. Or some may ask for 3 months payslip or so. My employer in the LA opened my bank account last year, all I did was to filled in the form,copy my passport and my work permit card and within a week I get my visa debit card.
By the way I heard on my local radio about this website, I went to look it up. The guy say he made 120% in a year’s trading. So why cant I get 120% on my returns in 12 months? I know you all thing these HYIPs engage in money laundering. Look at this and tell what you think. Jamaicans critics think if you are in investing you are greedy and I bet they are struggling with their monthly financial committment.
http://www.wininvesting.com/success.php
Rohan_GB said,
January 21, 2008 at 2:22 pm
I talk about this the other day. If Jamaica did have a reliable credit rating system then we would not need a referal. How will they know if the referal is of good charactor? Just because they have account with them. Well the new gov promised credit reference agency. I think there should be credit reference agency there, because I remember the teller called some one. But if they hold any info on you arent you supposed to see what infor they hold on you? Has any one in Jamaica seen their credit reference. In other words, do you know what info these agencies hold about you? The freedom of information act should allow them to tell what info the hold about you? I maybe wrong, but let me know.
Julieanne said,
January 21, 2008 at 4:33 pm
Can someone give me a MayDaisy referral. You can email me at millions23@gmail.com.
Thanks
LisaP said,
January 21, 2008 at 8:19 pm
Is MayDaisy still operating and paying?
LisaP said,
January 21, 2008 at 8:29 pm
This blog started out giving opinions and related issues on the situation with CashPlus. I think the blog has now lost its focus. Is CashPlus dead and buried, funeral taken placed and we have moved on?.
I have been viewing a few post which address question/situations about CashPlus and they have been ignored?. Some of us investors/suckers are hanging on and hoping that something materialize soon with CashPlus and that people start getting paid.
Certainly the public is running out of patience, the FSC meets later this week, people need to protest against the FSC so that they will allow folks to get their money out of CashPlus if they want . Bottom line CashPlus is the one who benefits from the whole sherade.
Eve said,
January 22, 2008 at 8:56 am
As I stated in Post #542 and contrary to post #531 & #543, it is clear that Cash Plus can indeed payout to their existing customers. See Jamaica Observer Article, part of which is attached.
http://www.jamaicaobserver.com/news/html/20080121T200000-0500_131640_OBS_CASH_PLUS_FAILS_IN_BID_TO_APPEAL_SUPREME_COURT_ORDER.asp
“…In arguing against the leave to appeal the conditions, Acting Solicitor-General Patrick Foster submitted that the conditions imposed would not have prevented Cash Plus from servicing the needs of its existing members and making payouts to them. He also said that the conditions would not impact on the operations of Cash Plus…..”
So, post #543, you see I was not speculating, but using common sense!
Think&Check said,
January 22, 2008 at 9:55 am
Post @665 As you seem believe that the money laundering suggestion is debunked because the HYIP only take manager’s cheques then you provide tacit support for the Ponzi scheme theory. My reason as stated before is this:
Take C+ for example that claims to operate several businesses that generate returns enough to pay 10% or more per month. Do these businesses only take managers cheques? I think not! So there is likely to be cash and other cheques involved in their transactions with their banks. So they could very well be passing ‘dirty money’ through the banks through the entities inthe group. I am not for a moment suggesting that this is the case as I have no such evidence but the thought that only managers cheques are invloved suggests a pyramid scheme.
By the way I can make 1% per day trading currencies and will show that on my website. If you believe that then I will tell you where to send your money ao you too can benefit. My point here is as the Jamaican saying goes “mout meek fi taak/mout can seh anyting” but where is the evidence?
Charlibabe said,
January 22, 2008 at 4:07 pm
Check it our people.. early bird catches the most worms…..
http://www.minvestment.com/?r=Charlibabe
VGR2100 said,
January 22, 2008 at 11:06 pm
For those bloggers, Cash Plus investment club supporters and OLINT investment club supporters who wish to let NCB know what is on your mind, NCB’s email address noted at its website is as follows:
ncbinfo@jncb.com
Have to rush.
Rohan_GB said,
January 23, 2008 at 5:54 pm
671 what is your website? I can see that you are on HYIPs competitors. Comflict of interest?Well your 1% could be 1 million $$$.
I sell items in Jamaica and make 100% on the goods. Well minus 25% for tax and logistics. Furthermore I sell cheaper than what the same items selling for in Jamaica.
669 The romour dried up. By the way if they have no check book how will they pay out? The last time I heard they did not have any check book.
I guess a lot of trade are pissing in their pants cos the lack of confidence in the USA economy. Billions were wiped of the UK stock market yesterday as reported. Ac lot of bloggers are busy at the moment I presume. Heh heh
U.S.... said,
January 23, 2008 at 6:28 pm
Rohan_GB – just because a stock price changes doesn’t mean there is no value, just what someone is willing and able to pay at that moment. If you invest in good companies, then don’t worry about the stock price except mainly at the time you purchase it (value investing like Buffet). If you are prudent up front, then you will prosper later and can pick the time to sell. If you are leveraged, you don’t always have the luxury of choosing when to sell. Cash Plus wasn’t a business.
Rohan_GB said,
January 23, 2008 at 7:39 pm
Thats not in my interest. Are you mopping up yet?
U.S.... said,
January 23, 2008 at 8:56 pm
mopping up what? Also it is the short term, short sighted people who question the US economy for the long term. The US and Western Europe are solid. The emerging countries are less certain especially if their reported numbers can not be trusted. It is a good time to put some (not all) money in the market.
Rohan_GB said,
January 24, 2008 at 1:07 pm
I cant argue with you on that one. As I said trading is not my area of interest. But I cant help when its in the news.
Azan not the only loser this time around, a French bank as well.
French bank hit by £3.7bn fraud
http://news.aol.co.uk/bigstorynews/french-bank-hit-by-37bn-fraud/article/20080124060609990001
catasha said,
January 24, 2008 at 1:07 pm
So now that Cash Plus has conceded to the FSC and said that they will get registered. How is it that no one decides to comment on this issue. Share your ideas let others know what you are thinking. Is this a good or a bad move?
Aziza said,
January 24, 2008 at 2:02 pm
Hi Catasha. I think it’s a great move.
Cash Plus has never stated (to my knowledge) that they did not want to be regulated, they just wanted legal clarification on wether or not they were trading in securities. I hope that the new legislations put in place by the govt will allow the registration to occur as quickly and as smoothly as possible so that they can get back to business shortly.
I am sure we will be hearing more about this in the comming weeks.
God Bless us all.
Eve said,
January 24, 2008 at 5:28 pm
It interesting to hear that C+, based on the future legislative move on the path of the government, have decided to get registered. However, no such legislation have been proposed (at least made public) or enacted into law. So, I cannot see how something that is unknow have led to C+ change of heart. Plus, the deadline to get registered/licensed is about 30-days. Therefore, the will have to be registered/licensed before any new laws comes on board. Said another way, C+ will have to do their paper work based on existing laws/rules.
I will have to wait on Mr. Hill’s weekend advertisement to see what his proposal is going to me and if it is any different than the one he proposed months ago (comglomerate approach..what ever that means).
ensley said,
January 25, 2008 at 7:51 pm
Rohon what is it that yu sell?
VGR2100 said,
January 26, 2008 at 1:51 pm
The following is from the Investors Association of Canada on the advantages of Investment Clubs:
“….An investment club is formed by people who would like to pool their money and invest together as a group. There are thousands of investment clubs in Canada and in the United States. Since they first began in Texas about 100 years ago, they have steadily been growing in popularity. Currently, the National Organization of Investment Clubs in the United States (NAIC) includes over 6,000 clubs.
Investment clubs are not just a North American phenomenon either. NAIC established the World Federation of Investment Clubs in London, England in 1960 and each year an international conference is held for investment clubs somewhere in the world.
In Canada, investment clubs began to operate in 1928 when a group of schoolteachers in Oshawa, Ontario formed the Old Canada Investment Co. Although investment clubs have existed in Canada for about 70 years, they are less well organized than their counterparts in the United States. For instance, the U.S.- based NAIC’s annual conference sees thousands of visitors and provides a wealth of information and education for investment clubs. Unfortunately, nothing quite comparable to NAIC currently exists in Canada where investment club organization is much lower and tracked poorly.
However, that does not have to stop you from forming a profitable investment club. Whether you know a lot about investing or nothing at all, investment clubs offer several advantages. You can either join an investment club that is already in existence or form a new one with others who are interested in investing.
Canadian Investment Club Kit
How to start and run a successful investment club
What is the Canadian Investment Club Kit?
The Canadian Investment Club Kit is a sturdy 3-ring binder containing everything you need to know about starting and investing to create a profitable and successful investment club. It is written in simple and clear English so that even an absolute beginner can follow it. The Kit also includes important sample documents such as partnership agreements, investment tracking forms and sample minutes. Take a look at the Table of Contents.
Who put it together?
This exclusively Canadian kit is put together by the Investors Association of Canada, a national non-profit organization of individual investors. Sabine Steinbrecher (project director), David Decker (legal consultant), Rick Wilson (accounting consultant), and Dr. Chuck Chakrapani (chairman, IAC) were responsible for producing these materials.
How to get your kit?
The Kit will not be mass-produced but will be printed in small batches. As we reprint the kit from time to time, orders will be filled on a ‘first come first served’ basis. The cost of the kit is $29.95 + $2.10 tax + $4.95 pp. = $37.00. To make sure you get a copy by the end of the month, please send us an e-mail at contact@iac.ca”
Whereas we Jamaicans must not habitually copy everything from the USA, I will seek to research and compare the Canadian Laws on Investment Clubs; versus Investment Clubs and the SEC in the USA; versus Investment Clubs and the FSC in Jamaica and the Jamaican courts; and
whereas the Jamaican courts must not be allowed to wrongfully and ignorantly legislate securities laws from the bench, and whereas Jamaican judges have no professional experience in securities laws;
and whereas Jamaica’s Attorneys of Law should be asking the Jamaican judges to recuse themselves wherever they have no professional experience in Securities Law and whereas their only experience is with Colonial Law and Order legislation of Slavery Times against the the ordinary Jamaican people’s enslaved ancestors;
and which said Colonial Law and Order Legislation the courts in Jamaica used to lynch the historically acclaimed National Heroes Paul Bogle and George William Gordon (in Morant Bay), Sam Sharpe (in Sam Sharpe Square/Montego Bay), and to intern National Hero Sir Alexander Bustamante (at Up Park Camp).
(This I recall from having studied “History of Jamaica” by author Clinton Black during my 5-year high school in Jamaica)
As others have stated, several amendments need to be added to the Jamaican laws to move beyond oppressive Colonial Law and Order of Slavery Times.
Of course the contemporary political families in Jamaica may not want to do so as they could be the replacement colonial masters who want to own everything in Jamaica, and to get the ordinary Jamaican people to work for them.
Hence, the recent Bruce Golding Cabinet’s hard-line taken against the Investment Clubs in Jamaica, as well as the previous Patterson Cabinet, Simpson-Miller Cabinet and the Omar Davis’s Ministry of Finance and the misguided rumour-mongering FSC not wanting the ordinary Jamaican people to have the freedom to become a part of the investor class through the Investment Clubs of their choice.
The foregoing reason could also explain why the political families in either the Michael Manley Cabinet and Legislative Majority or the Edward Seaga Cabinet and Legislative Majority never extended the Export Industry Encouragement Act 15-Year Tax Holiday Incentives, Financial and Tax Incentives, Finance and Investment Policy Incentives to the very creative, energetic, and leadership innovation of the Informal Commercial Exporters and Importers (ICEIs) to set ambitious capacity expansion targets for its (the ICEI’s) exports of value-added products and agricultural ethnic consumer goods and spices to third country hard-currency markets of Curacao, Panama, Aruba, Dominican Republic, Puerto Rico, Miami, and the United Kingdom.
Suffice it to say that it is instructive that neither of the political families have lamented the demise of the Informal Commercial Exporters and Importers of the ordinary Jamaican people.
Neither have the political lamented that the banks started in colonial slavery times and the FSC are seeking the demise of the Investment Clubs of the ordinary Jamaican people.
Conclusion: The political families in Jamaica probably want the ordinary Jamaican people to be their post-colonial slaves. Hence, the ordinary Jamaican people must continue to demand “freedom” to join the Investment Clubs of their choice without barriers to their entry into such Investment Clubs.
VGR2100 said,
January 26, 2008 at 3:54 pm
Rohan B: I commend you for attaining 100% return on your business transactions. How many times per year do you attempt to make this return. If you do so twice per year. That is 200% return per year. If you do so 3 or 4 times per year that is 300% or 400% per year.
Your achievement demonstrates that the detractors are wrong in claiming that Cash Plus cannot pay out 10% return per month or 120% per year.
Again, I know from pragmatic real world business experience of much more than 12 years that it can be done, and has been done by very innovative, creative, and savvy private business corporations in Jamaica who understand and practise business transaction pricing strategies and profitability planning and forecasting including strategies of mark-ups on consumables, and strategies of a series of gradual mark-downs after the target return has been attained at the higher mark-ups; and thereby planning to achieve 2 or 3 or 4 or so turnovers per year.
It is obvious that many savvy business people like yourself, as well as Carlos Hill and his Cash Plus Investment Club management team fully understand that (a) product pricing strategies are different from (b) pricing a business firm at a premium or discount.for “Lack of Control and the Ownership Control Premium”.
In respect of the latter (b), it is also obvious that equipped with more than 15 years experience in real world banking and business, Carlos Hill and his Cash Plus Investment Club management team fully understand the practice of the following:
“Determinants of the Discount for Lack of Control”;
“Suboptimal Management of the Firm”;
“Treatment of Passive Equity Holders”;
“Timing and Magnitude of Distribution”,
“The Importance to Their Access to Information”;
the “Mergers, Joint-Ventures and Acquisitions Market”;
“Valuing Ownership Control and Passive Ownership Interests in Operating Companies”;
“Ownership Control Premium Procedures”;
“Discount for Lack of Control in Investment Companies”;
“Valuing Passive Ownership Interest in Family Investment Companies”;
“Income Statement Analysis”;
Balance Sheet Analysis of “Assets plus Expenses = Liabilities plus Owners Equity”; and
Balance Sheet Analysis of “Assets plus Expenses = Liabilities plus (Owners Equity minus Owners Withdrawals)”.
Hence, it is plausible that they were able to maintain their practice of Cash Plus Group payout of 10% return per month (120% per year) to investors/savers who joined the Investment Club.
In conclusion, given their series of mergers, joint-ventures and acquisition of the brick and mortar companies already mentioned, I do not buy into the “Ponzi scheme” arguments of the detractors. The only regret I have is that Cash Plus Group” Investment Club did not (quietly) buy Petrojam Ltd (or Venezuela stake in Petrojam Ltd), which would have have added another “product leader”, “star” product line, and “cash cow” product line to the Cash Plus Group’s marketing strategy and this Investment Club of ordinary Jamaican people.
I stand strong in support of Investment Clubs of the ordinary Jamaican people, by the ordinary Jamaican people, and for the ordinary Jamaican people (in paraphrasing the words of National Hero The Right Excellent Sir Alexander Bustamante: “…of the people, by the people, and for the people”).
VGR2100 said,
January 26, 2008 at 4:30 pm
Rohan_B: I urge you not to disclose the name of your product unless you are involved in an intellectual property/patent owners/operators/manufacturing business enterprise which protects the “business health of your competitive advantage” and unless you have a unique business strategy; or unless you have a licensing licensing, or royalty strategy, or franchising strategy…to keep your business sustainable if you disclose the name of the product on the blog.
For over 15 years I spent in Jamaica and the USA on “Intellectual Property Legal and Operations/Production, Manufacturing, Work Process Improvement Systems Operations and Maintenance Proficiency Training, Finance and Multi-Countries Foreign Exchange Rate Analyses and Risk Management Policy Teams, I had to place on every page I submitted to my corporate clients the words “Copyright…Year…and Name of Company” in accordance with company policy to protect the companies’ technologies from patent infringement.
Keep up the positive and good work.
U.S... said,
January 26, 2008 at 5:46 pm
VGR2100 – I seriously have never read so much business slang babble in my life until I read your posts…they are meaningless. I can buy a can of soda pop for 50¢ and sell it for $1….but that doesn’t mean I profited by 100%! If you or Rohan had any real business successes you wouldn’t be putting your money and hype into ponzi schemes like Cash Plus. I only post to help prevent people from getting fleeced……I don’t “work” so I got the time to do so.
VGR2100 said,
January 26, 2008 at 7:29 pm
The below “Determinants of the Discount for Lack of Control” explains the reason I do not save or invest with traditional banks and investment companies who pay out returns of a “fleece-like” miniscule 4 % to 12% per year in contrast to the thousands of Investment Clubs in existence in Canada (for over 70 years), USA (for about 100 years and over 6,000 Investment Clubs), London, England (for over 46 years), and now Jamaica (for over 4 years):
The discount for lack of control and the control premium exist for two sets of reasons:
1. Owners of a passive ownership interest in an operating business have several disadvantages relative to a control shareholder:
a. Inability to change the suboptimal management of the firm.
b. Unequal treatment as a result of:
(1) Disproportionate distribution of cash flow and other economic benefits to the control equity holders in a traditional bank and an operating business.
(2) Timing of distributions of cash flow and other economic benefits to meet the needs of the control equity holders in a traditional bank and an operating business.
(3) Limited access to information.
2. There are differences in the markets for passive ownership interests in a company and the market for the company as a whole.
The detractors’ goal is to hide such foregoing detailed information from savers/ investors in traditional banks and investment companies which are against higher-yield investment clubs.
Hence, like many other ordinary Jamaican people who treasure the freedom to risk their own industriously/diligently and honestly earned money, I will choose to research, do my due diligence, join, save and invest with the “high-yield” Investment Clubs; and ignore the misleading, “ponzi-scheme-rumour-mongering”, distraught, and meaningless detractors every time.
U.S..... said,
January 26, 2008 at 9:04 pm
More business lingo babble……. Go get empowered in Ponzi schemes, meanwhile start a lemonade stand and learn how a real business actually works without the “Intellectual Property Legal and Operations/Production, Manufacturing, Work Process Improvement Systems Operations and Maintenance Proficiency Training, Finance and Multi-Countries Foreign Exchange Rate Analyses and Risk Management Policy Teams” nonsense. Just do it, open it up, make some lemonade, sell some of it, and make some money. No need for the weird bureaucratic wordy Dilbert comic-like nonsense. You ever see the IBM commercials mocking this stuff? If so, “BINGO”. HEHEHEHE
VGR2100 said,
January 26, 2008 at 9:06 pm
Let’s continue with the example provided by others at 686 which says: “I can buy a can of soda pop for 50¢ and sell it for $1….but that doesn’t mean I profited by 100%!”
Fact:
Coca-Cola Company headquartered in Atlanta sells 1 million units per day worldwide. Hence, even if one does the computation at even 180 working days per year times 50% profit or even 30%, profit, or even 20% profit, or even a low 10% profit, any literate and sane person would realize that the profit amounts to much, much, much higher than 100% profit per year.
Shall I do the computation for you?
I am sure you can do the computation analysis, whereas no knowledgeable businessman or businesswoman does only one business transaction per year in the less economically sensitive sectors of utilities (gas, phones) and food and beverage companies.
Conclusion:
Cash Plus Group, which was smartly created through a series of such mergers, joint-ventures, and acquisitions in these less economically sensitive sectors of utilities (gas, phones) and food and beverage companies, can very well pay out 10% per month or 120% per year, provided its working capital is not depleted (by the FSC’s “colonially-oppressive cease and desist order”) to the point where it cannot replenish its inventory necessary to generate the required number of inventory turnovers per year.
Wrap your brain around the fact that Cash Plus Group is not a one business transaction per year aircraft firm, but a multiple transactions per year conglomerate.
I will not be surprised if the vast ordinary Jamaican people engage in a series of “Peace Marches” via the FSC, Jamaica House and Gordon House of Representatives and Senate against the tyranny being imposed against the ordinary Jamaican people’s freedom to do their own due diligence, research and choose to join, save and invest with the Investment Clubs of their choice, instead of begging for “handouts” of demeaning food stamps from government and political families, and minimum wage (which is not even a living wage) from employers and control shareholders of the traditional bank and operating business which engage in:
Unequal treatment as a result of:
(1) Disproportionate distribution of cash flow and other economic benefits to control equity holders;
(2) Timing of distributions of cash flow and other economic benefits to meet the needs of the control equity holders;
(3) Limited access to information.
U.S.... said,
January 27, 2008 at 1:12 am
Like I said, start a lemonade stand and you’ll see what your profits are…..and don’t sell just one glass because after all you’ll need to make that 10% month.
The funny thing about Cash Plus is they “bought” companies at high prices which would negate any large profits. You clearly can’t be reasoned with since all you do is spout meaningless business lingo babble that has no basis in reality nor any concrete numbers of actual sales and costs for these companies that were “smartly created through a series of such mergers, joint-ventures, and acquisitions in these less economically sensitive sectors of utilities”.
Seriously, I am mean this sincerely, you really don’t have any real and practical business knowledge….. you sound like an empty suit bureaucrat. BINGO!
Rohan_GB said,
January 27, 2008 at 6:48 am
681@ Eve
I read the news this week. They say that after the minister announced in parliament this week that the gov is willing to accomodate alternative investments. I was announce during the court preceedings. Things are happenning so fast or slow?
Rohan_GB said,
January 27, 2008 at 8:32 am
@685 I noticed nobody mentioned the Jamaican guy (well his dad is Jamaican migrant to the UK in the 60s) who pocketed £150mil last year.And gave away £50mil to children fund. Which makes US $5mil looks like needle in a haystack. Using Edge fund to make millions, to make him ‘Britain’s most munificent man.’Search up on Christopher Hohn and you can read all about him.
According to the article, ‘Hedge funds are a relatively new and highly secretive industry which invest the money of the superwealthy and pension funds around the world. They use unconventional techniques, such as betting that a share price is going to fall, to make money. Mr Hohn’s father, Paul, 67, a white Jamaican, emigrated to Britain in 1960′. Risky business.
http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=448050&in_page_id=1766&ito=1490
@ 683 and 687 interesting pionts you made here.
@ 682 ensley I wont tell you what I sell on this webblog. I paid for the info on how to get these products at wholesale prices. Then I contact the vendor and e-negotiate prices. The more you buy the less you pay. I passed on the bennifit to the customers in Jamaica. By the way I did not have to sell in Jamaica, I could sell in the UK and make £££. I have to mark up because I have purchase foriegn exc. I have to pay subscriton to some of these wholsalers to reap the bennifits. Are you willing to take the risk of sending money to buy online items?
I know alot of you do not embrace the Internet that way. you want to see and feel your product. A lot of people dont want to send they money to people they dont know, I know its risky to send money like that and I used the Escrow system to pay for goods. If you email me at xtdoug@yahoo.com I can sell you the list of wholesalers with overstock items. That is if you are willing to send the money first.
VGR2100 said,
January 28, 2008 at 12:56 am
Ooops! Typo!
Correction: Coca-Cola sells 1 billion units per day worldwide.
The point is that if Cash Plus Group’s less economically sensitive food and beverage companies target a goal of even just 1 percent market share (to stay below the radar to avoid threatening the competition), Cash Plus Group business model has had the potential to generate great returns and a proportionate distribution of cash flow and agreed economic benefits to savers/investors as per 10% per month agreement.
That is why the Right Excellent Edward Seaga, former Jamaican Prime Minister, Minister of Finance, Minister of Development and Welfare, former Chief Executive of Premier Corporation (a lending institution), holder of rich due diligence experience, and current Chairman of the Premier League Clubs Association reportedly mentioned that (on the $150 million donation the PLCA had re-invested in Cash Plus) the PLCA had been getting the 10 % returns from Cash Plus each and every month, until December 2007 when the “cease and desist order” from the oppressive (my word) FSC.
Going forward, I will ignore US..since he might be blogging from inside a mental hospital…based on the nature of his intense continuous rantings and ravings, “mad joker-like long laughter and abuse”.
VGR2100 said,
January 28, 2008 at 1:17 am
693: Rohan_GB: I like Chris Hohn because after he left Perry Capital Management hedge fund manager in New York to start his own hedge fund (TCI Fund Management) in Britain, he and his wife Jamie Cooper-Hohn simultaneously set up The Children Investment Fund Foundation (to which rich investors agree -some reluctantly, some disapproved like Yale Endowment Fund – to pay a small % fee) to help children living in poverty and with aids in Africa, after he witnessed children in Hong Kong searching through garbage to find something to eat while he worked at a bank there earlier; and the image would not leave his mind.
That is what the Investment Clubs are seeking to do in Jamaica for the ordinary Jamaican people despite the detractors. The Investment Club founders are obviously doing so as their Christian higher calling from the Higher Power. They did not have to do these Investment Clubs for the ordinary Jamaican people. They could have behaved like the colonial-era banks like NCB and others and the detractors.
That is why they take the abuse and persecution from the banks and detractors in silence and prayers.
I will communicate your email address to my sibling to see if he has a passion for adding what you are doing to his business in the IT field.
VGR2100 said,
January 28, 2008 at 1:20 am
692: Rohan_GB: I will email you later this week to get the info. I know you will stay strong with tenacity against the abuse of the detractors.
Analyzer said,
January 28, 2008 at 5:22 am
VGR2100: Where do you get this crap? I wholeheartdely agree with US (and despite what you may think, we are not the same person). Private equity has been around for a long time and the avergaae annual returns for these funds has been in the 20% range for the past 20 years ( http://cisdm.som.umass.edu/research/pdffiles/benefitsofprivateinvestment.pdf) . Some of the best in the field may get up to 30% or 40%, however, this requires money being locked up for many years and in no case do these pay out anything on a monthly basis. It is simple business logic to know that if something would instantly yield a 10% free cash flow, then the seller would not sell it as it would be too valuable. VGR….you clearly have zero concept of investments and simply cut and paste some random literature that has no context in this case.
And the whol post-colonial slave talk? Give it up…just a way divert attention frokm the real issues, which is the clear fraud that is going on in Cash Plus.
Delroy said,
January 28, 2008 at 9:07 am
Can someone provide me with OLINT’s percentage return for December 2007?
Winston said,
January 28, 2008 at 3:09 pm
This site has become short of substance and full of abuse. Its like you guys are in a market and trying to win over buyers for your wares.
If educated perons like you guys obviously are, cannot agree to disagree on fundamental issues then “god help us all”.
Now I can clearly understand why the murder rate in Jamaica is so high, its because in a lot of instances when we cannot agree we resort to violence.
On the net its not possible so instead its a verbal assault..
Folks , we will all never agree at all times but it does not give anyone the authority to abuse each other.
Just think about this for a minute.
For the most part we believe that there is one supreme being in the world.
Christain call him – God/Jesus/Jehovah/The Messiah
Hindu call him – Devi, Krishna, Ganesh, Hanuman[12], Murugan, Ramachandra and Lakshmi.
The muslim call him – Allah
So who is correct, which is the supreme bring and why does he appears do be different depending on which part of the world you are from.
Lets look at christainity (since I am more familar with that one)
They all worship the same God , but each group has a different belief system even though they all read from one book. So we end up with
Catholic
Angelicans
Seventh Day Adventist
Methodist
Presbyterian
Pentecostal
Church of God… and we can go on and on.
If we can read from the very same book and cannot even agree on who this GOD is, when he was born , how he lived and when he died, then that tells me that we will never agree on things that aren’t even written.
Nuff said…
Patricia said,
January 28, 2008 at 5:57 pm
Winston,
The same abuse going on here is the same one you see going on over on cashplusinvestments, isn’t it?..or that one maybe worse. Too many expert analysts fighting over cyberturf…with nothing productive going on.
Patricia said,
January 28, 2008 at 6:00 pm
Look on the actual doers on the Everything Forex page…you see how much practical info those guys are actually sharing and there is no abuse place on that page….all this analysing and back and forth tracing produces nothing.
Aziza said,
January 28, 2008 at 6:21 pm
I think some of the people who post on this blog don’t realize this. ALL the intellegence in the world doesn’t make some of us “smart” it seems.
Patricia said,
January 29, 2008 at 12:11 pm
Delroy…O’s Dec return was 8.97%
marta said,
January 29, 2008 at 2:02 pm
VGR2100
You are obviously very excited and enthusiastic about the success of cash plus but how can you be sure when you have no real evidence to back your support of Carlos Hill and his entities? Cash Plus is a web of companies. You have not seen their balance sheets, income statements or cash flows yet you are almost taking Jesus off the cross that his business is successful. Here are a few things to consider:
As was alluded to before if these business had those potential the former owners may not have sold them. If they did they would certainly go at premiums. Cash plus, I am thinking must have bought at a real good bargain to have gotten so much companies in such a short time.
Can you identify any of the cash plus businesses that you think are strongly in a position to make those kinds of returns? Please justify your assertion.
If cash plus has the winning formula, why has it taken them so long to show their books?
You mentioned investment clubs in other countries. Didn’t you also read that these clubs have to open their operations to its members, letting everyone knows how, where, and what their monies are being used for? Has cash plus done any of that?
There is something flawed with your thinking on profitability viz-a-viz :
“Hence, even if one does the computation at even 180 working days per year times 50% profit or even 30%, profit, or even 20% profit, or even a low 10% profit, any literate and sane person would realize that the profit amounts to much, much, much higher than 100% profit per year.”
Just to allow us to know your profitability analysis and calculation please calculate how much profit coke will make in the 180 working days. Give us both the percentage and the dollar amounts.
Now I believe in logic, evidence and common sense. I don’t want to fight
with you. Let us just show what we know and come to some conclusion based on logic, evidence and common sense.
Over to you my brother.
marta said,
January 29, 2008 at 2:19 pm
Rohan
You said “I sell items in Jamaica and make 100% on the goods. Well minus 25% for tax and logistics. Furthermore I sell cheaper than what the same items selling for in Jamaica.”
Is the 25% the only thing that should be taken out? Or you do not pay yourself (salary), internet fees, electricity, shipping, membership fees, marketing costs and the other cost that are related to the business. Is your 75% just purchase price minus selling price. If that is so, then my friend you are just calculating gross profit.
If that is the case then it explains why so many small businesses go bankrupt. The business owners seem to think that selling price minus purchase means money in their pocket. Mind you I am not suggesting that your calculations weren’t complete. I am merely asking if you took all your expenses of selling one item into consideration?
Gemini said,
January 29, 2008 at 3:11 pm
@ Winston, Patricia & Aziza…RE: SOME BLOGGER’S BEHAVIOUR……You all couldn’t have said it better. Some people obviously came on this post to display that they have obtained a Master’s Degree in Tracing and Insulting. I am certain we can disagree without the constant back/forth verbal blows.
marta said,
January 29, 2008 at 3:57 pm
Who in this forum would like to start a real investment club. One where we are not looking for short term success only, but has a sustained strategy to acquire wealth? Wealth that can be passed on to our children and the other generation. But more importantly wealth that can see us enjoy life, the way we want, when we want and where we want without sweating about financial consequences. A club with open books and open decisions. One where we all make the decisions or have an executive committee make them on our behalf.
I am of the firm belief that wealth is not attained by working for others, but by acquiring and using resources (talent, skills, brains, money, structure, strategies) profitably.
Are you that person? Wouldn’t you want to be known as the owner rather than the “lender”?
Let us have a discussion on this instead of the quarreling.
U.S... said,
January 30, 2008 at 12:15 am
The best path to building wealth is to start your own business….entrepreneurship creates wealth. You’ll have to work hard, but you’ll be rewarded in the long run.
If you are looking for investments, buy and hold for the long term (10+ years) symbol VTI. I know, I know, there are those out there that want to waste their time over thinking everything, fretting, planning, plotting, and delusional that they are smarter than others….but save your efforts and start a business or something and put you investment cash in symbol VTI. If you understand markets and capitalism, you’ll know why VTI is in fact your best and least risk exposure in the stock market. Buy and hold for the longer term, prefer over 20 years. It really is that simple to put your money to work and forget about it. The problem is people don’t want to forget about it, they over think it.
joe said,
January 30, 2008 at 1:18 pm
is there any news on what is going on with World wise
Gemini said,
January 30, 2008 at 6:59 pm
@ Joe…Its business as usual for Worldwise. They have been in talks with FSC re getting redgistered.
Scientist said,
January 31, 2008 at 2:32 am
Making long-term wise financial decisions requires a well developed frontal lobe of the brain according to many research studies. While there is some disagreement regarding the frontal lobe development of whites versus blacks, one aspect of frontal lobe development is nutrition during childhood, another is exposure to lead. When the frontal lobe is not developed to its full potential or has been damaged, people are more impulsive and do not fully appreciate the long term consequences of there actions. This may explain the high violent crime rate in Jamaica and why Jamaicans are so easily drawn into these investment schemes which are obviously frauds. Perhaps eliminating lead paint and leaded gasoline along with a good nutrition program will reduce the number of Jamaicans that fall victim to such frauds? I don’t subscribe to the theory that whites are superior to blacks in the development of their brains, rather I think it is environmental. it is unfortunate that so many blacks are being taken advantage of in Cash Plus and other such schemes.
Winston said,
January 31, 2008 at 5:38 am
Scientist @ 710.
I entirely disagree with the assertions you have made in your post in relation to violence, lead and susceptibility fraud.
Say that were the case, how do you there explain the reason why the level of violence in the rest of the caribbean is so much lower than Jamaica on a per captia basis.
Check out the statistics , in St Kitts, Antigua, Barbados etc. All these countries used a combination on leaded and unleaded gas overtime, so if the correlation you tried to draw was correct, I would expect to see the same type of situation.
Lets go down that road with you further to prove the fallacy of your argument. Lead was phased out of gasoline in Jamaica in April 2000. So prior to that the level of lead in gasoline would have been higher and would have been getting progressively less up to the point in time where it was completely banned.
What has been the crime rate in Jamaica over the last say seven years, yes its been increasing. So this possible lead/violence or irrantional behavious you mention from a mathematical stand point would be a inverse relationship.
On a final point, there is more financial fraud committed in so called developed countries which has “ripped” of many many people than in Jamaica. How do you therefore explain that.
I have found that intelligence has less to do with making sound financial decision, than does emotions and simple common sense.
Winston said,
January 31, 2008 at 6:07 am
I hate the race debate, but lets critically examine what you wrote.
You have stated in your post the following “I don’t subscribe to the theory that whites are superior to blacks in the development of their brains, rather I think it is environmental”.
But then you went on further to say ” it is unfortunate that so many blacks are being taken advantage of by.Cashplus etal.,”.
Come on, I can tell deep down you are struggling with your inner feelings but I have been able to detect your true feelings and beliefs by those two statements along with the first paragraph in your post.
You have posted what you think is the politically correct thing to post on this blog to avoid being labelled a racist(which was kinda smart), but I for one think you deep down believe that whites are superior to blacks.
In the last line of your post, If I wanted to avoid others from attacking me for being a racist I would have instead wrote.
“Its unfortunate that some many Jamaicans are being taken advantage of by these schemes…”.
You did not do that but instead made reference again to “blacks”, which leads me to be believe that you think if this were I white country this would not happen, as the white “frontal” lobe is superior to that of the black.
You believe that only black are being taken advantage of with these “schemes” in Jamaica as no other race “invest” in these high risk “schemes”.
I expect you to come out swinging and defending what you have written above, but its difficult for a writer to separate his inner feelings from his writings and so often times they collide.
I know I have stirred up a “hornets” nest , so let the debate begin.
Fellow Jamaican said,
January 31, 2008 at 10:06 am
US and VGR2100, both of you need to get into a ring and settle your issues. I have been following the posts on this page and frankly, I am tired of the insults traded between you two as it does no one any good.Whether we like it or not, many Jamaicans have invested in Cash Plus whether for “need or greed”. It is a fact that the average Jamaican will have difficulties making ends meet by earning 2-5% on their savings per year as offered by traditional banks. The flip side is that investment schemes such as Cash Plus may also be less “beneficial” because of the high risks involved. So what do we do?
Judging from the “discussions” between you two, I have determined that you are both intelligent individuals. May I suggest that the time you spend finding ways to insult each other, you channel that effort into something more positive, like making suggestions on how the average Jamaican can survive the economic crises that they are facing.
It is time to stop tearing each other down and start building a stronger more united Jamaica.
Scientist said,
January 31, 2008 at 11:44 am
It is a fact that whites are superior with respect to the level of money they have compared to blacks. The question is why? It is also a fact that more blacks commit impulsive violent crimes than whites. The question is why?
It is lead exposure while still unborn, and lead exposure during childhood development that causes impulsive behavior and interferes with frontal lobe development. It is a heavy metal that accumulates over time. So, if you end all lead exposure today, that doesn’t help people that have already been conceived and lived in a lead exposure environment. There is a lag here and we’re seeing the fruition of the lead exposure. Lead creates a more “primitive” mind. The other island are less dense and have less exposure to leaded gas car emissions. Where Jamaica has dense cities and poor emission standards. Just like public housing in the US next to major Interstates. Or maybe it is just the ganja?
I think it is mostly environmental. But then again, I can’t explain the violent slaughters that happen in Africa all the time either.
Rohan_GB said,
January 31, 2008 at 1:35 pm
704 Martha, you think I am stupid dont you? I worked out my prifit before I buy. And thats as far as it goes mi naa tell you nutting more.
Rohan_GB said,
January 31, 2008 at 2:02 pm
Coca Cola bottled pipe water here in the UK and sell it for £1 and the new paper report it and they withdraw. We dont even know if a pipe water most of those vendors selling and make big profit.
Rohan_GB said,
January 31, 2008 at 2:36 pm
Mad Scientist (LOL) I think you should refrase your statement. I dont think you meant what you said. I have read it over and over again. Please make clarification so Winston can understand what you meant. I bet that book was written by a white person. Black people never get the opportunity to excell in the west, even when you excell in and reach the board room you fellow black man call you sell out.
My theory is if we you stop beating your kids for delinquency and use other nonvoilent method of punishment maybe there will be less crime and voilence in our society. Yous see, black parents beat their kids to solve some deviant issues instead of finding amikable solutions, the kid grow up and beat their kid and on and on. Kid grow up using voilence to sort out their issues and you know the rest. This mostly happen in working class families. Who are commiting those crime either working class or no class at all.
Did you know that the slave traders would dump all the rebelious slaves from Barbados and USA into Jamaica? Dont forget the slave masters used to whip the slave who then whip their children. Researcher claim that the mental trait is inherited right back to todays generation.
Alot of website I been on I see Jamaican ‘bullies’. Yahoo chat, you tube,weathmax, cashplusinvestments, and no they are invading facebook, even in the Simpsons( They potrayed Homer as a voilent Jamaican).
Winston said,
January 31, 2008 at 2:39 pm
Scientist say :”It is a fact that whites are superior with respect to the level of money they have compared to blacks.”
What on earth does superiority has to do with the level of money you have. Are you saying that if one group has more money that the next group then they are superior?
If you say that whites tend to be more wealthy (in general) than blacks, then I can agree with that statement, but superiority is a completely different kettle of fish.
If its as you suggest that its enviromental, are you therefore saying that the areas that black live in the USA, UK & CAD are more densely populated and have more lead emmissions than the area where whites live.
Are you also suggesting that the level of violence seen amongst blacks in the USA, UK & CAD is a result of this “environment”.
Again, your presentation does not address certain behaviour seen amongst blacks.
1. There is more black on black violence vs black on any other group. If it was purely a matter of “frontal lobe” issue I would expect to see the level of black on any other group violence not just their own.
2. How would you explain the two world wars by the europeans who are mainly white, is this aggression due to “lead” problem or “frontal lobe”.
3. The war and slaughter that took place in Bosnia , is that also consistent with your theory.
4. How about the slaughter carried out by Hitler against the jews.
Fact is one cannot zero in on one piece of details and try to fit everything into this, as it will always lead to one committing the cardinal sin or saying if A is present when B is present then there is a direct correlation between A&B.
I will add more later, have to run right now.
Scientist said,
January 31, 2008 at 2:49 pm
By superior I meant are more wealthy. There wealth is superior to black’s in pure dollar amounts. The reasons are many I suppose.
I don’t know what violence is more prevalent among blacks. Impulsiveness correlates to early lead exposure.
My point is, fraud schemes may be much more easy to pull over in Jamaica because of possible average lesser front lobe development just like it is easier to pull over on the elderly with frontal lobe deterioration. If nutrition is not high during development and lead levels are high, it would make it easier to pull off these types of scams. If whites were in the same environment, I would suppose the same would be true. Right?
Winston said,
January 31, 2008 at 3:39 pm
On a point of departure.
There are more fraudulent schemes operating out of the USA, UK and CAD than you can ever find in the Jamaica. Are these fraudsters making money, and if so who are the people being “conned” (Scammed).
Just complete a quick search on the net and you will see what I am referring to. Most of these fraudlent schemes have been around in the developed countries for a long time and are now being moved overseas( ie outside USA) due to the crackdown by the FBI and other law enforcement agencies in those countries.
So to say that its easier to to pull over in Jamaica due to intelligence level would not be correct. It in fact may be easier to pull over in Jamaica because of poor investigative work and lack of a zero tolerance approach by the local law enforcement team when it comes unto these “schemes” vs “frontal” lobe development.
Check out this link.
http://ponziscams.com/smf/general-discussion/ponzi-scams-that-have-been-busted-by-the-fbi-and-sec-t185.0.html
marta said,
February 1, 2008 at 8:00 am
Rohan
Why can’t you have a civil argument without getting angry? All we are trying to do is ascertain how profit is calculated by VGR2100. Did you noticed that I asked you questions rater than accused you of miscalculation? If you want to call your self damn stupid then go right ahead.
I am not interested in your business, just the methodology.
Rohan_GB said,
February 1, 2008 at 9:08 am
721 Look how Ebay vendors sell. They have ten items, and sell 2 to make their capital back, sell another two to make profit, then they bid the rest of the items. Well MArtha you can create your own methods of profit making.
When I say logistics I meant duties, transport foreign exchane etc. You can save by cutting out the warehousing, buy online (order samples first) instead of travelling to the market place, e-negotiate your prices, get brawta etc. If I get mass orders all I need to do is to place the order and they ship to what ever address I want to (Dropshipping). Then I set my own prices. The recipient will pay the duties and other logistics at the other end. All done right here in my living room. Ecommerce(non transactional) is not that big in JA, looking at most of the websites in JA, they are just informational sites (Most of them at least)
By the way this is only 1/4 of my time. Immagine if I was to do this full time.
719 where you get your information from? Why dont you point out the fact that black people have been denied the chance of becoming wealthy, by aparthiate, racism etc. At least they are progressing in the USA than in the UK. I do not buy one bit of what you are say. I am not convinced. Africans in the UK was once changing their name on their CV in order to get proper jobs. They use English names, because employers dont even bother to call them when they see the Afro name.
marta said,
February 1, 2008 at 9:52 am
Rohan
I am sure you are doing great at what you do and my hats off to you sir. Your “ebay” example may not be your best way to explain it however.
As you know, your capital includes all the money you put up to start the business, which goes into stock, equipment and services to get the business going. It also includes additional funds pumped into the business later on to acquire additional stuffs that you may not sell, but helps in the smooth running of the business.
THERE IS NO WAY THAT 2 or a few sales can give you back your capital! It takes much more than that and a longer time too. That is why all the accountants and business technocrats suggest that it takes around two or three years for a business to make a profit. Of course if you are doing this from your living room table it may take a shorter time that that.
You cannot also make back your profit from selling two items. Unless the profits are based on those two items. Profit is calculated per unit or on a collection of units. If you buy ten oranges at $1.00, the only way you can make back your profit by selling two is to sell the two for at least $10.01. This would mean each orange costing $5.05 to the customer. Unless those oranges have something that the growers don’t know and you and the customers do, that price cannot exist.
My original point however was that most times small business people don’t bother to calculate all the costs that go into a product. For example, if you are taking a salary, is that calculated in each sale? If you are taking all your costs into consideration and making those kinds of profits then congrats to you.
Winston said,
February 1, 2008 at 10:04 am
Where did the Scientist go ????
Rohan_GB said,
February 1, 2008 at 11:22 am
Martha
You find it unbelievable do you? Well mi a do my thing for a while now and thing going well. An extra income for me. I know all dat what you are talking about. I am using technology which reduce operating cost.
New subject now!!
Winston said,
February 1, 2008 at 12:28 pm
I like when people make post in the forum which they state s being factual , they have irrefutable fact to back up there claim. Hypothesis is NOT fact .
It seems that the “Scientist” truly believe what he wrote and while I cannot change his belief, he should not come here and post them as being facts.
The scientific method requires that one can test a scientific hypothesis.
Enough on this subject.
Winston said,
February 1, 2008 at 12:29 pm
CashPlus always seem to be in the news.
See if you can find it in this article.
http://www.jamaicaobserver.com/news/html/20080131T200000-0500_132009_OBS_COP_FACING_NINE_CHARGES_IN_THREE_PARISHES_DENIED_BAIL_IN_LARCENY_CASE.asp
Curious said,
February 1, 2008 at 3:49 pm
NCB successful in court against C+
Elizabeth said,
February 1, 2008 at 5:18 pm
So what does that mean for its clients?
Winston said,
February 1, 2008 at 6:20 pm
C+ clients should all go to NCB on Monday close their accounts and take their money elsewhere.
lol
Overchill said,
February 1, 2008 at 6:54 pm
Winston 730
It would be good if they all could get together and do that, but I’m guessing even the ones who come here regularly wont bother. It’s just how we are… Must be the lead.
Sceintist said,
February 1, 2008 at 7:45 pm
It must be the lead. So much talk, debate, but nothing gets done. There is some sort of disconnect when the road out is clearly there, but all people do is debate this, debate that, etcetera. Why not just take the first step? Must be the lead.
Gemini said,
February 1, 2008 at 8:03 pm
@ Winston, Overchill & Scientist….I have to look where I can get better returns on my $ and as such I wont be closing my NCB A/C but will be shifting most of the funds to another financial institution that pays twice the interest I am now getting from them. I already opened the A/C. So my NCB A/C will be mostly empty. The only reason why I did not close if fully is that the institution I am moving to is not a part of the multilink network at the moment.
Overchill said,
February 1, 2008 at 8:58 pm
Gemini, you have taken the biggest step. People need to realize they are getting ripped off. I removed my money from NCB when they first started messing around.
Rohan_GB said,
February 2, 2008 at 4:33 pm
The biggest problem we have in Jamaica is monopoly. JPS, NCB, NWC, UWI, the C&W.
ensley said,
February 2, 2008 at 5:22 pm
where is this gemini?
Dee said,
February 2, 2008 at 6:19 pm
Hi I came on this sit by accident, but im glad I did, I brouse through your comments, and I must admit, Im really worried about cash plus and I am wondering what is going to happend next.
U.S..... said,
February 2, 2008 at 10:59 pm
No Rohan_GB – The biggest problem is stupid people like you that lead people to believe that they can get a 10% per month on their money. That’s the problem. You can get ahead if people steal your money like in these scams.
VGR2100 said,
February 3, 2008 at 11:33 am
To Cash Plus Investment Club savers/investors who plan to use their returns to create future mergers, joint ventures and acquisitions of potential business operations DUPLICATING CASH PLUS (preferably via future investment clubs) after you do your due diligence, always keep a copy of (and apply/use easy calculation), the RISK AND VALUATION CONCEPTS (FORMULAE) FOR DETERMINING AN APPROPRIATE DISCOUNT RATE:
DISCOUNT FOR LACK OF CONTROL
= 1 – (minus) Value per share of diverted cash flows
—————————————–
Value per share of company if properly managed
PREMIUM FOR OWNERSHIP CONTROL
= Value per share of diverted cash flows
——————————————. – (minus)1
Value per share of company as currently managed
These above and belwo facts are what the FSC and the misleading, deceiving detractors, the Bruce Golding administration and Cabinet members unlimited to its Finance Minister against investment clubs did not want investment clubs savers/investors to become aware of:
One Cash Plus saver/investor at the recent very small demonstration/ non-violent passive resistance against NCB, stated that Cash Plus Investment Club opened their eyes and made them realize the banks were robbing them blind:
UNFAIR TREATMENT OF PASSIVE EQUITY HOLDERS:
The banks and companies on the stock exchange (cheap money) can get away with fleecing/ robbing/ stealing/ engaging in UNFAIR TREATMENT OF PASSIVE EQUITY HOLDERS as explained here-in:
DISPROPORTIONATE BENEFITS: Control shareholders in both banks like NCB, etc. and public and private companies can redirect their companies’ cash flow for their own benefit.
COMMON FORMS OF REALLOCATION (legitimized fleecing/ robbing/ stealing/unfair treatment of passive equity holders) include the following:
1. Unusually high cash compensation and/or bonuses to control shareholders.
2. Unusually high benefit packages to control shareholders, including:
a. Severance to control shareholders
b. Retirement to control shareholders
c. Medical to control shareholders
d. Legal fees, advice, etc. to control shareholders
3. Unusually high option grants to control shareholders.
4. Extraordinary perks to control shareholders, such as:
a. Multiple housing subsidies to control shareholders
b. Transportation to control shareholders
c. Living expense reimbursements to control shareholders
d. Administrative expense reimbursements to control shareholders
e. Nepotism by control shareholders
5. Transactions between the control shareholder and the company, etc.
LONG HIDDEN FROM THE ORDINARY JAMAICAN POOR PEOPLE
These are the long hidden facts as to why they banks and stock exchange listed-companies fail to compete with the investment clubs and wish to destroy the investment clubs of the ordinary Jamaican poor people with the help of the current Bruce Golding administration and his political Cabinet members unlimited to the Finance Minister as well as the previous PNP administration.
A WAY FORWARD
That is why the investment clubs must move urgently to register a political party of the ordinary Jamaican poor people who are Investment Clubs savers/investors; and to place promptly 60 candidates in the next early General Election to unseat the 4-seat majority Bruce Golding administration; do not replace them with the PNP administration; but to replace them with duly-elected Investment Club members to Parliament to enact legislation that supersedes the British colonial, slavery-time laws that do not address the needs of the ordinary Jamaican poor people, children and families.
Add the “Investment Club Accommodation Encouragement Act”
Extend the “Export Industry Encouragement Act 15-Year Tax Holiday Incentives Schemes” to the ordinary Jamaican poor people who are savers/investors in Investment Clubs which engage in creating such mergers, joint ventures and acquisitions as control shareholders.
Extend the “Industrial Development Encouragement Act 10-Year Tax Holiday Incentive Schemes” to the ordinary Jamaican poor people who are savers/investors in Investment Clubs which engage in creating such mergers, joint ventures and acquisitions as control shareholders.
This is a way forward whereas the political families of the JLP or PNP will not willingly give up the power they inherited from the British colonial, slavery-time laws that were used to address the needs of the British colonial, slave masters and to oppress and suppress the ordinary Jamaican people.
Both the JLP and PNP political families would like to be the only ones to own all the assets and have the ordinary Jamaican poor people work for them.
NICE HOUSES AND ETIQUETTE IN RURAL JAMAICA
That is why they have expressed shock when they ride through rural Jamaica and see the nice houses that the ordinary Jamaican poor people have independently built for themselves starting with 2 apartments and expanding through their cultural methods of “build-rest-and-build-rest-and-build again” until their family homes are completed without having taken out a mortgage.
That is why the political families have also expressed shock when they sit at the table of these rural ordinary Jamaican poor people and observe that the rural children of the ordinary Jamaican poor people know how to eat with “knife and fork”.
VGR2100 said,
February 3, 2008 at 12:10 pm
Cash Plus Iinvestment Club savers/investors:
Whereas the transmission technology misconstrued the Risk and Valuation Concepts (Formulae) at 739 for Cash Plus savers/investors who might plan to use their returns to create future mergers, joint ventures and acquisitions of potential business operations DUPLICATING CASH PLUS (preferably via future investment clubs) after you do your due diligence, to always keep a copy of (and apply/use easy calculation), I re-submit as follows the RISK AND VALUATION CONCEPTS (FORMULAE) FOR DETERMINING AN APPROPRIATE DISCOUNT RATE:
DISCOUNT FOR LACK OF CONTROL
= 1 MINUS (Value per share of diverted cash flows DIVIDED BY Value per share of company if properly managed)
PREMIUM FOR OWNERSHIP CONTROL
= (Value per share of diverted cash flows DIVIDED BY Value per share of company as currently managed) MINUS 1
I hope this helps those from whom this formulae has been hidden previously.
VGR2100 said,
February 3, 2008 at 2:32 pm
For Cash Plus Investment Clubs savers/investors and Rohan_GB, I share the following facts of life of business success over and above Just In Time Inventory (JIT):
List of Profitability Ratios Formulas and Definitions on Website
Click on profitability ratio hyperlink to go to the turnover ratio definition page, which provides formula, explanation and definition for interpreting and calculating the turnover ratio.
Each turnover ratio page lists excel spreadsheet calculators which calculate the profitability ratio.
Accounts Receivable Turnover Ratio
Accounts Payable Turnover Ratio
Asset Turnover Ratio
Cash Turnover Ratio
Inventory Conversion Ratio
Inventory Turnover
Visit alphabetic list of ratio formulas and explanations listed on website.
See further information on financial statement ratio analysis excel spreadsheets.
FINANCIAL STATEMENT RATIO SPREADSHEETS
Formula to calculate inventory turnover ratio:
Inventory Turnover Ratio = cost of goods sold / average inventory.
Inventory turnover ratio definition and explanation:
The inventory turnover ratio measures the number of times a company sells its inventory during the year.
A high inventory turnover ratio indicated that the product is selling well.
These ratios I learned and researched thanks to one of the Matalon Group of Companies Industrial Commercial Development (ICD) subsidiaries in Jamaica and applied to repeated business successes of corporate/ strategic business partnerships a few decades ago.
Rohan_GB, keep your business methodologies a secret. That is your competitive advantage. Do not be tempted to reveal your total revenues or financial accomplishments on this blog. Many are reading….not just the detractors and abusers. Keep up the good work.
If readers choose to read, research and apply the above, more power to them.
If some lazy readers expect me to provide them with data that they can research for themselves, then they might be too lazy for business.
They can go invest as passive equity holders (who are subject to unfair treatment by control shareholders as already mentioned).
Coca-Cola data is there for them to go do “data mining” themselves. That is what Warren Buffet and Berkshire Hathaway) did prior to their acquisition of Coca-Coca shares and to smartly get on the Board of Coca-Cola as a control shareholder.
That is what Carlos Hill and Cash Plus obviously did, including companies in which the owners have become old and wish to retire and “take it easy”.
This is another reality of business success that I have seen personally in New York and Jamaica.
Also, for years Reginald Lewis of TLC Beatrice Food Company tried unsuccessfully to convince blacks in New York to create companies through mergers, joint ventures and acquisitions, whenever they visited his venture capital lending brokerage firm seeking loans to start a small business.
Eventually he got frustrated, contacted Solomon Brothers, did a ton of due diligence for himself and bought the Beatrice Food Company through which he created TLC Beatrice Food Company at about age 43, and proved his point. He became a millionaire with a net-worth estimated at US$400 million before the age of 50 when, sadly, he died of brain cancer.
Thanks to my time in the satellite and cable electronics high-tech business in Atlanta/Georgia, where I was introduced by a female co-worker to his book “Why Should White Guys Have All The Fun” after I had returned via Air Jamaica from my yearly 3-week vacation in Jamaica.
In accordance with constitutional freedom of speech to all, I will continue to speak in support of investment clubs until and after the detractors are “blue in the face” and exasperated. No one will “brainwash” me into accepting “low return” investments in the way they have been traditionally brainwashed.
VGR2100 said,
February 3, 2008 at 2:59 pm
For Cash Plus savers/investors and Rohan_GB:
The inventory ratio and other ratios are key to understanding financial statements.
Ratio calculation spreadsheets reduce time and effort in calculating decision making ratios.
They reduce risk for lenders and investors and enable owners, managers and consultants to increase productivity and business profits.
These spreadsheets are bargain priced to provide a huge return on investment. Find website for more details.
VGR2100 said,
February 3, 2008 at 3:14 pm
Cash Plus Ltd investments are real.
An individual who believed in the confusing propaganda against Cash Plus called me towards using up her minutes before her current phone contact expires.
She then let slip that Cash Plus phone service (Mega-Phone) had been more attractive, cost-effective, and popular than Cable & Wireless Digicell, and Michael Lee Chin telecommunications service.
Now, I am able to also conclude that Cable & Wireless, Digicell, and Michael Lee Chin’s internet cable telecommunications company had more to gain by seeking to wipe out Cash Plus…their competitor.
Jamaica needs Anti-Trust legislation; but don’t wait for the Bruce Golding administration or the PNP administration to do the job. They are more interested in defending the traditional, the big and the powerful against the new, the small, and the weak as in colonial, slavery-times.
Detractors, your falsehoods and lies about Cash Plus being Ponzi scheme will not stop the truth from coming out into the open.
Aziza said,
February 3, 2008 at 7:05 pm
Hi VGR2100
Do you have an email address that I could send you something? I think you might be very interested.
Let me know.
Winston said,
February 3, 2008 at 9:27 pm
CVM news is reporting that WW has applied for license from both the FSC & BOJ.
Guess we will see how rhis plays out over the next few weeks.
Anyone had details on the WW ad in todays papers.
VGR2100 said,
February 3, 2008 at 10:07 pm
Aziza, I am open to looking at what you wish to send me.
However, there is a dilemma, as I have a policy of not putting my email on the blog.
I once did that once in 2001 and was flooded with over 400 emails in 2 days. Hence, I switched to another email address.
You are welcome to propose an alternative. Take care. Wishing you all that is good.
Aziza said,
February 4, 2008 at 9:48 am
O.k…that’s the same reason I didn’t want to post mine. lol
Go here…and we will talk more after.
cashplusfamilynetwork.aceboard.com
Rohan_GB said,
February 4, 2008 at 3:32 pm
Yes US, show me where I lead people. silly man. Every one have a right to what they want with their money. HYIPs or regular. All you do is to spread propaganda and slander, you will be charge with deformation of character.
I told you before, go and take out a civil law suit against Olint and Cash +, in the interest of the public, instead of staying behind your computer and conceal your identity. Since you are the poor peoples’ messia go then. You can also take some plack card and go to their offices and demonstrate. What are you waiting for.
My cash stay crash or not. Its my hard ern money not US hard own money….
Rohan_GB said,
February 4, 2008 at 3:37 pm
THis is the only blog he can hang around they chase him up from the other blogs.
ronacle said,
February 4, 2008 at 3:44 pm
any one knows olint website
Overchill said,
February 4, 2008 at 5:25 pm
http://www.olint.com
Or maybe you could try http://www.overseaslocket.com
Cant see as it will help you much though.
VGR2100 said,
February 4, 2008 at 11:29 pm
Okay Aziza…will do
VGR2100 said,
February 4, 2008 at 11:59 pm
Aziza: It is good to see that Carlos Hill/Cash Plus is fighting on. He is a “doer”.(Make Things Happen)
Jamaica needs many more such strong determined characters who make things happen to bring the “have nots” into the mainstream of the economy.
In a very short few years, he and his Cash Plus Investment Club has done much more than anyone of the detractors on the blog have done in pulling the ordinary Jamaican people into the economic mainstream of the economy via the following economic sectors (which remind me of the Matalon Group and the Issa Group):
Industry Group: Representative Industries:
Utility: Cash Plus Phone Card Centre Limited…distributor of prepaid calling cards for all local communication service providers through Gengeorge Limited and Caribbean Tone Limited;
Finance: Cash Plus Equities Limited; Cash Plus Money
Energy: Cash Plus Distribution Centre Limited…distributor of liquid petroleum gas; Cash Plus Lubricant;
Basic Industry: Cash Plus Chemical Limited;
Utility: Cash Plus Telecom Limited, operator of the mobile and wireless fixed services companies Megaphone Limited and Freepaid Limited;
Consumer Cyclical: Cash Plus Limited also operates:Cash Plus Development Limited with its four subsidiaries:Cash Plus realty Limited,Cash Plus Construction Limited,Cash Plus Hardware Limited,Cash Plus Building Systems Limited.
Consumer Cyclical: Travel/Tourism Cash Plus Entertainment Limited operates three properties under the Executive Inn brand in Kingston, Montego Bay and St. Ann.
The event planning company Hillcrest Productions Limited; and
Consumer Noncyclical: Carlitos Cafe Limited.
Consumer Noncyclicals: Food and Beverage Dairy products wholesaler Cash Plus Commodities Limited which runs:Cash Plus Foods,Cash Plus Farms, andCash Plus Shipping Limited.
Consumer Cyclical: Travel/ Transportation Cash Plus Shipping recently acquired two cargo ships, “Angel Pearl” and “Durga Maya” to move its cargo throughout the Caribbean Central America and North America.
Sovereign Security Services Limited;
Betting, Gaming: Caymanas Off-Track Betting Limited;
Consumer Cyclical: Auto Cash Plus Industries Limited, a motor vehicle dealership operating through Cash Plus Ventures Limited, and
Finance: Cash Plus Financial Consultant Limited
…Let’s not forget: Bustamante, Marcus Garvey, Paul Bogle, William Gordon, and Sam Sharpe were all villified by their detractors before history recognized them as National Heroes.
I will go to the site very soon.
Again, wishing you all that is good
Aziza said,
February 5, 2008 at 9:10 am
You forgot one VGR2100….
They do property management as well!
See you there!
Rohan_GB said,
February 5, 2008 at 3:01 pm
750 Ron – You have the Net at your finger tips and you dont search for Olint? That why people like you are told anything. They have info and dont tell you. Only time you must ask questions like these is if its not available online or for further queries. I am not picking on you but you go to use google or some other search engine at times.
Reggie said,
February 5, 2008 at 11:20 pm
Good news. Cash Plus in MoBay is now paying. I got my payment with interest PLUS a 10% bonus for waiting! I am sooo happy because of the many bills I need to pay. THANK YOU CASH PLUS!!! I also got to sign up for a debit card for future use.
Winston said,
February 6, 2008 at 7:13 am
Reggie,
This was be violation of the Cease & Desist order !!!
Aziza said,
February 6, 2008 at 10:00 am
Hey Reggie….
Don’t listen to this guy. He has NO good intentions for someone who is supposedly a Cash Plus member. George Roper himself said that the FSC are allowing C+ to pay people without being in breech of the Cease and Desist order. It’s in the February 3rd sunday hearald if you care to look!
Congrats on getting your interest money and being able to catch up on your bills.
Long live Cash Plus and FIRE for all the bad minded people with DIRTY hearts.
You have a great day.
Charlibabe said,
February 6, 2008 at 11:23 am
Reggie,
Are you for real.??????How do u collect your monthly consideration by cheque or by bank deposit. I am due payments from November from the Mobay branch. Please respond ASAP!!
Winston said,
February 6, 2008 at 11:34 am
Azzia,
The point I am making is that the FSC says that persons can make arrangements for persons to be refunded their principal if they so desire. Reggie appears to be saying he got interest payments and not his Principal. If this is what C+ is doing they could find themselves in trouble for a breach. What that means for us is possible further delays in C+ getting themselves out of this current jam that they find themselves in.
Aziza said,
February 6, 2008 at 12:01 pm
Winston…since it is apparent that you never read the article properly let me take the liberty of posting the relevant paragraphs here for you:
The cash-deficient Cash Plus Group Limited cannot use the current cease and desist order as an excuse not to give investors back the $20 billion in principal sums which it gobbled up over the last five years, or to pay a portion of the $26 billion in interest payments due on the money.
This is because Financial Services Commission (FSC), will allow the company to make an arrangement to pay over these sums or a portion thereof, if it is willing and able to do so, according to George Roper, acting executive the regulatory agency.
NOTE: It says they ARE able to pay the principal OR INTERST.
Nuff said….stop try frighten people.
Winston said,
February 6, 2008 at 1:30 pm
George Roper is confusing this entire issue. In the Sunday Gleaner of Feb 3, 2008 this was posted.
Q.What are Cash Plus’ options, that is, can they give back people their money? What should they do to be FSC compliant?
A.The FSC’s cease-and-desist order on Cash Plus was reinstated by Justice Brooks on January 23, 2008, when he ordered the discharge of the stay of execution that had been granted on January 16, 2008.
The cease-and-desist order stops Cash Plus from making payouts to investors as well as other activities that should only be carried out on a day-to-day basis by a licensed dealer.
He went on further to say:
While Cash Plus takes steps to regularise their securities, dealing activities, they may seek the FSC’s approval to make payouts to their investors.
My Question , what does this mean, are these payments:
1. Principal refund plus interest oustanding up to the point in time of the request for refunds.
2. Interest payments outstanding ie considerations outstanding.
3. How can you cease and desist from trading in securities and still be approved to make payments against those securities. This just does not make any sense to me.
Note: The $26b outstanding would be up to 2010 not current amount oustanding . The total amount outstanding is more in the region of $3.9B and that would be up to March 31, 2008.
Gleaner link.http://www.jamaica-gleaner.com/gleaner/20080203/business/business5.html
Winston said,
February 6, 2008 at 1:36 pm
This was taken from the FSC website and was very specific to C+
Look at question 3. Has the FSC changed its position.
http://www.fscjamaica.org/publicinfo_files/bulletins/Frequently%20Asked%20Questions.pdf
On one hand its a definative no, on the oher hand its a conditional no, so what is it. ???
Aziza said,
February 6, 2008 at 2:37 pm
If George Roper/FSC is confusing the info and has so many things on their own website and elsewhere contradicting themself, it should show you a thing or two about their credibility.
This was NEVER about regulation of the clubs. It is about shutting them down.
If C+ wants to pay…the FSC says they can’t pay. If C+ don’t want to pay….the FSC says they can pay.
The rules change as they see fit, and this my friend is PAINFULLY obvious.
Same situation with NCB….first it was Money Laundering, then it was lack of funds, then it was know your customer, then it was lack of audited financials and then it was cease and desist order.
They are full of it…somewhat like yourself….and at the end of the day its not about the benefit or protection of the people!!
If you can’t see that by now then I implore you to get some new eyes implanted in your skull!
PoorRiskTaker said,
February 6, 2008 at 5:09 pm
where is the love on this blog!
Reggie said,
February 6, 2008 at 5:15 pm
If was great. Was paid in Euros too…. PLUS they gave me a treasure map to locate Black Beard’s hidden gold treasure AND where the leprechaun hides his gold. It just GREAT!
So, the funny thing is, no I did not get my money from Cash Plus. Just wanted to see what the reactions from the Cash Plus defenders would be. LOL Typical. Cash Plus is a Ponzi Scheme you silly rabbit.
Aziza said,
February 6, 2008 at 5:47 pm
LOL….that’s kinda funny reggie…
I actually came to the conclusion shortly after you posted that you were not telling the truth, so there’s really no surprise there.
One good thing did come out of your game though. People can now see how two faced the FSC is with their statements, so thank you for being the person who set off the dicussion!
Toodles!
Winston said,
February 6, 2008 at 6:13 pm
Aziza,
Its funny how you tore into me over the post by Reggie. As I said I figured he was not being truthful, based on my checks done to verfiy what he had posted.
Aziza said,
February 6, 2008 at 6:40 pm
Winston,
What is funny is that you keep going back to this TRUTH argument. I never once THOUGHT or SAID that what was contained in the post was true.
That was NOT the reason I tore into you but the fact that YOU are a LIAR.
That was my position from the get go and it remains my position. You can continue to delude yourself as to what people say and don’t say when you can’t even seem to read and follow news reports from the FSC.
You seem to know every detail about C+, which is ironic because you are not even a member by your OWN admission, but you failed to miss the recent article where Roper said the FSC will once again allow C+ to pay to it’s members if they so choose!
Continue to do what you do best and DETRACT from the point of what was being said!
Please do us all a favour and check YOURSELF before you post more of your lies!
Liz said,
February 7, 2008 at 3:33 pm
Reggie… that was not funny.. u broke my heart
Reggie said,
February 7, 2008 at 6:04 pm
a.k.a. U.S…. now that is funny! Who says I don’t have a sense of humor!
LORA said,
February 8, 2008 at 12:40 pm
All said and done, is CashPlus planning to pay before April 1st, or does the cease and desist order preveny them from paying. I am yet to have clarity on this issue.
Rohan_GB said,
February 8, 2008 at 5:53 pm
Hey Winston whats going on next door. Too busy can get a chance to look, website take too long to load. Same ole sanky Uh???
Winston said,
February 8, 2008 at 11:25 pm
Rohan_GB.
No news right now. Just the usual ” alternatives are ponzi’s”.
That is the summary of the “detractor”. You are not missing anything
Jason said,
February 10, 2008 at 1:03 pm
Ohh I see many of my friends from next door are here. Well Winston you can telll the good folks over the other side that the reason they have not seen me lately is because I have been banned. My post simply does not go through. So I guess they will not be seeing me over there anymore. I still will read the site from time to time and will post under a new name when olint, worldwise, cash plus, and the rest of the ponzi schemes have ended…which should be pretty soon.
prekeh said,
February 11, 2008 at 11:16 am
What came out of the Court hearing ?. Cash Plus made an application to be regulated.
Before they were issued with C&D a lot of meetings and info was forthcoming. but since then , there has been very limited info. This is what causes people to panic.
Winston said,
February 11, 2008 at 1:03 pm
A must read for all those participating the “Alternative Industry” .
Even though the document presented refers to hedge funds in the USA, there are so similarties to the alternative in Jamaica and some of the concerns are very much the same.
1. Regulation
2. Openess
3. Audits etc.
Makes for interesting readings.
Click on the link below.
At the bottom right corner of the screen click on the ” Download Highlights: Sixth Annual Alternative Investments Seminar”
http://www.pwc.com/extweb/pwcp…..1300783474
U.S.... said,
February 11, 2008 at 1:38 pm
Winston — The dude is a felon convicted of financial fraud…..he couldn’t touch any hedge fund operation. How stupid must you be to think anyone should give their money to crooks knowing what we know now?
Winston said,
February 11, 2008 at 2:11 pm
US @ 781,
What on earth are you talking about?
When did Olint – David Smith get convicted of financial fraud!!
prekeh said,
February 11, 2008 at 2:18 pm
Cash Plus call centre employee’s walk off the job because of lack of payment of salary
Rohan_GB said,
February 11, 2008 at 5:10 pm
US aka Jason you are not banned. You just dont feel accepted there. They may ban your email but as sly as you are you would find some way of posting there. Liar Liar!
Aziza said,
February 11, 2008 at 5:16 pm
@ Prekeh…
I just heard on the news that the call center is closed but not for the reason you stated. That part wasn’t very clear. I guess I will wait to hear more on this.
VGR2100 said,
February 11, 2008 at 6:47 pm
For Cash Plus Investment Club supporters and OLINT Investment Club supporters who like to use their returns to make things happen and create, through a series of mergers, joint ventures, and acquisitions, their own business enterprise operations, I hereby support and humbly suggest your below additions to your Articles of Association and Memorandum to accomplish these additions:
Corporate Governance for Foreign Investors in Jamaica including and unlimited to intellectual property/ patent owners/operators/manufacturing business enterprises of England, Scotland, Denmark, Sweden, Netherlands, Germany, Asia and Japan, Jamaica (Caribbean), Canada, the United States of America, and investment clubs of the ordinary Jamaican people:
A) “Foreign Invested Enterprises (FIEs) in Jamaica are governed by a board of directors and senior management, with an exception existing for Cooperative Joint Ventures (CJVs) that the parties have chosen not to incorporate and the CJVs are governed by a management committee in Jamaica.
B) “Membership: In Equity Joint Ventures (EJVs), board membership must be proportionate to capital contributions. The board must have a Chairman, and need to have a Vice Chairman. If the foreign investor selects the Chairman, the Jamaican party (investor) must select the Vice Chairman, and vice versa.
C) “Management: Equity Joint Ventures (EJVs) must appoint a General Manager, one or more Deputy General Managers, and a Finance Manager. If a Jamaican investor nominates the General Manager of an EJV, a foreign investor may nominate the Deputy General Manager, and vice versa.
VGR2100 said,
February 11, 2008 at 6:49 pm
D) “Powers: The Chairman, as the legal representative of the enterprise, has the power to legally bind the enterprise and bears significant responsibility for its acts and omissions. Most of the powers and functions are set forth in the Articles of Association and in the Joint Venture Contract in Jamaica.
E) “Number of Directors: The board of directors of both Wholly Foreign Owned Enterprises (WFOEs) and Joint Ventures are required to appoint between 3 and 13 directors. FIEs with few shareholders may be able to convince the examination and approval authority in Jamaica to dispense with the board of directors and use an executive director.
F) “Meetings: Joint venture board meetings must be held once a year, and a quorum is 2/3 of the directors. For Equity Joint Ventures (EJVs), unanimous consent of the board is required for amendment of the Articles of Association, increase or reduction of the Registered Capital, merger or division, and termination and dissolution. For Wholly Foreign Owned Enterprises, board meetings and quorum requirements are governed by the WFOE’s Articles of Association.
VGR2100 said,
February 11, 2008 at 6:53 pm
G) “General Manager: The General Manager is charged with day-to-day operation and may be a foreign national if the enterprise so chooses. The responsibilities of the General Manager should be listed in the Articles of Association even if Jamaican law does not require the appointment of a General Manager (as in the case of WFOEs). The General Manager is charged by law with responsibility for formulating a management system for the enterprise; production, operations and management, employment and termination of staff (except those that must be employed and dismissed by the board of directors) and implementing board resolutions and investment and business plans.
H) “Deputy General Managers: Foreign Invested Enterprises may appoint one or more Deputy General Managers. Equity Joint Ventures are required to appoint at least one.
I) “Finance Manager: An Equity Joint Venture is required to appoint one or more accountants to assist the General Manager with finances. This is also common practice for other FIEs.
J) “Director and Officer Liability: Director and officer liability law and enforcement is not a well-developed as in many Western nations. The market for directors and officer liability insurance is not well-developed. The Chairman’s role as the enterprise’s legal representative encumbers him/her with both civil and criminal liability for the acts and/or omissions of the enterprise. Directors can be held liable for board resolutions that are illegal or that contravene the Articles of Association and cause losses to the company. Directors, supervisors and senior management personnel can be held liable if they cause losses to the enterprise by violating laws and/or the Articles of Association.”
Again, I hope the foregoing “guideline” will help to empower some Cash Plus Investment Club supporters and OLINT Investment Club supporters who like to use their returns to create their own business enterprises with Articles of Association and Memorandum including the preceding.
VGR2100 said,
February 11, 2008 at 7:07 pm
The foregoing at #783, 784, and 785 is what I have been envisioning, hoping and dreaming for since my childhood and high school days that the Jamaican government leaders of the JLP and/or PNP would have been bright and smart enough to lead the nation in this direction.
I have since concluded that they are not brighter than us the ordinary Jamaican people.
Now, it is up to the bright and smart investment club supporters who will use their returns to do so via their own business enterprises to keep Jamaican ownership in foreign invested enterprises through mergers, joint ventures and acquisitions. In this regard, I agree with the nationalist Farquharson Institute of Public Affairs which I was introduced to during high school.
U.S.... said,
February 11, 2008 at 7:20 pm
U.S…. (aka Reggie
) says:
VGR2100, I have one word for you…. LITHIUM. Try it, you’ll like it.
Roli said,
February 11, 2008 at 8:14 pm
I dont get it. Cash plus gurantees returns. Olint does not. I have heard some months with olint is 4% some month is 12% Some 7%. And i heard olint had a -ve return a few tmes in the early going. Cash plus guaranees 12% and up off everything non forex. The point i am making is that they are two different vehicles, why do people group them together?
Analyzer said,
February 12, 2008 at 8:40 am
So was bored over the weekend and playing on YouTube when I remembered Rohan mentioning Carlos Hill was on there. Well, I watched it and never laughed so hard in my life. Really people…the man is a joke. I don’t think he uttered one word that gave any real indication of how Cash Plus is supposedly making money. It was simply a cheerleading session…and an awful one at that. What scares me is that the man can look all these people in the eye and so blatantly tell them lies. Anyway, it seems clear now that people are aware that the scam is up, given all the recent reports in the media. Hopefully, you have all accepted that fact and are now focused on the task at hand…getting your money back. Good luck all.
And VGR2100…give it up. You are embarrassing yourself with the incoherent gibberish you post.
Watcher said,
February 12, 2008 at 4:12 pm
I have watched Carlos Hill on YouTube and must agree with Analyzer that the man is a joke. Sadly, Barak Obama looks about the same. Neither says anything of substance. People like to be sweet talked and convinced of things they know aren’t true. That is evil to manipulate people like that. Pure evil. Use your intellect, not your emotions people.
Overchill said,
February 13, 2008 at 7:36 am
Roli @ 788
Guaranteed? Is anyone getting their 12%?
Catasha said,
February 13, 2008 at 8:35 am
Well in my recent call to cash plus, some what dismal though, I was told that we there will be no disbursements. Only interests will be paid out as of April. I can’t say where and when this cookie will crumble because my faith is almost drawing thin but then I am refreshed by the old Jamaican proverb “Whey no dead, nuh call y duppy.” Once there is life, there is hope, at least they still answer the phone lines.
Charlibabe said,
February 13, 2008 at 10:33 am
Cat,
Did they give u any infor as to when disbursement will commence? Or those persons who requested full disbursemnet weeks b4 they Crash will get that?
Roli said,
February 13, 2008 at 11:04 am
Overchill @ 791
sorry I meant Guaranteed as in past tense
Catasha said,
February 13, 2008 at 11:31 am
what I gathered is that there will be no disbursements whatsoever, but you could call this number for the info. 920-1691/ 920-2709. I must warn though that you need to be patient, it rings without answer sometimes.
Rohan_GB said,
February 13, 2008 at 12:16 pm
You have made some very good points there. The educated one just love it to know that there are some who cant read and write properly. They want to keep them there, down there. And those who hold information keep it for themselves because they do not want others to be better off than them.
Information in knowledge, information is power. I bet alot of people do not know there constitutional rights.It is not written in plain English so when they read it they do not understand
Conspirator Man said,
February 13, 2008 at 2:32 pm
It seems Rohan_GB is onto our secret plan. We will have to do something about that. Muuuhahahahahaaaaaaa
VGR2100 said,
February 14, 2008 at 1:39 am
1) In my research of Cash Plus, I learned first hand of very experienced and smart detectives of police in Jamaica who confided that they have money in Cash Plus, having done due diligence of this investment club prior to saving/investing their money.
2) The ordinary Jamaican people only want the government to allow Cash Plus Ltd to continue to operate successfully (their words to me…not mine).
3) Analyzer: On issue at #783, 784, and 785, I can’t help you if all you are intellectually capable of comprehending and engaging in is (what they call in Jamaica) “arm-chair analysis” or “verandah talk”.
You give the impression that you are not someone who “make things happen”…only engage in “analysis to paralysis”, “arm-chair analysis” and “verandah talk”. Hence, after this, I have no more time to waste on your mindless innuendos which confess your lack of worldwide exposure. By forever.
US: You still give the impression that you are blogging from the in-patient ward of a mental institution: Stop promoting the use of drugs.
What is sure is that I will never save/invest my money in the organizations Analyzer and US are obviously rooting for as their organizations are in the business of diverting cash flow (away from the unfairly treated passive equity holders) to benefit the control shareholder(s) of such organizations.
In the investment clubs, the savers/investors are in fact the control shareholders who, in the case of Cash Plus Group, benefited in the amount of 10% per month, which they were smart to re-invest in compounding.
Sorry Analyzer and US, nothing you say will stop me from “standing my ground” against your evil covetousness of the money and superior returns in investment clubs.
US: You reveal your emptiness of credibility when you blogged previously that you “believe in” your “heart” that Cash Plus is a ponzie scheme. In the business world, you would be fired if you submitted that your empirical evidence (hard facts) is that you “believe in” your “heart” that….”
U.S.... said,
February 14, 2008 at 2:50 am
Thank goodness I am the boss then….would hate to get fired!
Analyzer said,
February 14, 2008 at 5:20 am
VGR2100: I wasn’t going to even respond to your posts, but am starting to think that you actually believe what you are posting has relevance. The investment schemes can put all the terms you related to in their fund documents, but it will not make any difference to the underlying problem we have currently. Are they really making those returns? The only thing that will confirm that they are legitimate is audited financial statements by a reputable accounting firm. You can put all the directors and corporate governance in the world, but if those very corporate directors are crooks, doesn’t make a damn bit of difference. We need verification by an independent third party that they have the money they claim to have and the returns they are posting are real. Without this, everything else is irrelevant.
And the fact that they all have adamantly refused to provide this speaks volumes. They clearly have something to hide.
Winston said,
February 15, 2008 at 6:44 am
Good new for Olint, WW etal.!!!
Now lets hear from the detractors !!
Gavin Chen, a development finance specialist, is charting a plan for Jamaica’s nascent foreign exchange traders that is meant to legitimise them as a formal sector and position their operations as suitable candidates for licensing or registration.
Chen estimates ‘conservatively’ that his group of 20-plus members trades US$400 to US$800 million daily, or US$146 billion to US$292 billion per annum, saying it could be as much as twice that.
http://www.jamaica-gleaner.com/gleaner/20080215/business/business1.html
Winston said,
February 15, 2008 at 6:46 am
Even more news on the alternatives, as now business people are speaking up.
“Embrace casinos,investment schemes as legitimate business – Then tax them to fund education, says Marks”
The FSC, in the absence of voluntary compliance, has taken to warning investors about the dangers of committing funds to firms whose operations are cloaked.
For Marks, that approach is a signal of a regulatory regime that has been caught napping, and suggests a need for education of the media and regulators on the workings of the currency trading market and its parameters.
She suggests the authorities should instead be making attempts to embrace the schemes; then tax them to harness some of the resources they have so easily been able to command.
http://www.jamaica-gleaner.com/gleaner/20080215/business/business5.html
Interesting days are ahead !!!
U.S.... said,
February 15, 2008 at 11:19 am
How the heck is that good news for Cash Plus? Cash Plus is a Ponzi scheme and all Ponzi schemes collapse regardless of government intervention. The only thing government intervention does is nip it earlier so fewere people…and the overall economy….are less negatively affected.
Winston said,
February 15, 2008 at 11:39 am
Bwoy US would not even read ehh…
804 said.
Good new for Olint, WW etal.!!!
Now lets hear from the detractors !!.
Now why did he just select CashPlus. Mi did tink seh all “alternatives” are nothing but ponzi’s.
I am seeing some concession from US here, as he only now speaks about C+.
We shall see how this all plays out in the end.
U.S.... said,
February 15, 2008 at 12:22 pm
“Even more news on the alternatives, as now business people are speaking up.
“Embrace casinos,investment schemes as legitimate business – Then tax them to fund education, says Marks”
The FSC, in the absence of voluntary compliance, has taken to warning investors about the dangers of committing funds to firms whose operations are cloaked.”
Winston, your post certainly applied Cash Plus as you wrote it. I have focused on Cash Plus in my posts….go back and read them. Indeed “We shall see how this all plays out in the end” and it will end badly for many who need help the most.
Rohan_GB said,
February 15, 2008 at 12:57 pm
805 know somthing that we dont? Come with hard facts(798) my youth. Stop hiding behind you pc screen and put it in the papers and sign it, put you picture too. On a second thought, perhaps you are the one behind the Hyltons and the Bankers Association of working for the FSC.
I bet you are pissing in your pants now as the tide is turning for investment schemes. As Winston (802)points out people from the private sector looking at these alternative investments.
U.S.... said,
February 15, 2008 at 1:29 pm
FOREX trading is legit, but not guaranteed returns. Very high risk and what makes you think you know anything when even the top experts fail? Cash Plus is a Ponzi schemen n meh pants r dry. How about this Rohan_GB, why don’t you post your picture, address, and phone number and then I’ll do the same. You sound like a real w-ssssss. Here p-ssy, p-ssy cat.
Rohan_GB said,
February 15, 2008 at 2:41 pm
I dont have to I am not campaigning .
Rohan_GB said,
February 15, 2008 at 2:47 pm
Only traders would be on the PC 24-7. If you did not have any interest in the maket you would not be going on about you competitors. Slandering in not clean competition. It is? Now who is the pussy cat?
CIA said,
February 15, 2008 at 7:50 pm
Gotcha!
Winston said,
February 18, 2008 at 6:12 am
Room to manuover for the Alternatives ?
If media reports are correct, it appears that FSC is buckling under sustained pressure. hmm
This was reported to have been excerpts from a CVM News cast aired on Sunday night.
“FSC saying A Scheme dont have to register if they are worried bout the fit & proper requirement. They can just register the security and get them issued through an intermediary with a licence. That way if you are someone with a criminal past “who has likely learned from your past mistakes” (Ropers words) then you can go that route instead & so doing still play an integral part in the businesses operations and conduct normal business without worrying bout no fit & proper issue. The FSC providing a loophole. Go figure. Cash plus states they plan to go this route and hopefully resume paying out monthly considerations by March 31. CVM News.”
Chess anyone?
Winston said,
February 18, 2008 at 6:23 am
Seems like the Alternatives are’nt going anywhere soon, in particular the ones involved in forex. Seems like pressure is likely to be mounted on the FSC, interesting days are ahead as the voices gets louder.
Excerpts taken from today gleaner article (Monday Feb 18, 2008)
“This particular group is about four years old. Its members do not personally participate in FX trading but they focus on traders. They have been making a net percentage profit of between 8-20per cent per month and explained that good traders never offer fixed rates of return. ” Wait a minute I thought that was impossible” Hmm
“The group disagreed with the CaPRI statement that “there is a high degree of probability that many, if not most of the informal investment schemes operating in Jamaica are unsustainable, making their eventual collapse inevitable”. Hmm – Is the ponzi theory out the window”
“It was explained to me that sometimes FX traders make over 100 per cent gains with one single trade. They also cited supermarkets that could realise a 40 percent profit in one month and the selling of phonecards (one of Cash Plus’ stated investments) that also provided high returns.
My comments – “Wait a minute – I though CashPlus could not do that and the returns were very low. Hmm, maybe, just maybe why “superplus” is expanding so fast in Jamaica (the low returns – sarcasm).
Well, the debate rages on !!!
Winston said,
February 18, 2008 at 6:38 am
Oh, here is the link subsequent to my post @ 815.
http://www.jamaica-gleaner.com/gleaner/20080218/cleisure/cleisure2.html
Charlibabe said,
February 18, 2008 at 2:55 pm
Did anyone see the ad in Sunday Gleaner Re Cash Plus? Do you think they are still just givein us a pill to swallow?
Winston said,
February 18, 2008 at 3:55 pm
Well Charliebabe ,
They said the will start paying March 31, 2008.
Guess we will have to see what happens. FSC apparently have made some concession, which would allow C+ to register its “securities” without having to at this stage seek full securities license for the companys as a whole.
C+ has apparently stated that its their intention to go this route to get up up quickly.
We will just have to wait and see how it all plays out as the rules dont seem to be established which allows for some level of manoeuvring.
“Time will tell”.
Rohan_GB said,
February 18, 2008 at 7:43 pm
Anybody read this?
Many Jamaican attorneys have deep concerns about the constitutionality of the Financial Service Commission’s (FSC) operations
http://www.sunheraldjamaica.com/editorial5.htm
Catasha said,
February 21, 2008 at 8:56 am
What if we all sue cash plus like those three persons in the jamaica observer do you think we will all get our money back.
don p said,
February 21, 2008 at 9:56 pm
please be advised that the tax man is coming with full speed. Everyone is being warned. and no escape even if you tek al u money and runs.
Winston said,
February 22, 2008 at 10:06 am
Good Move by BOJ ?
No new auction for T-Bills, so all those securities dealers who were licking their chops in the hope in a hike on interest rates are visibly upset,as the extra 2.5% they were expecting from doing nothing seems like it will not happen.
Guess dem haffi go wuk fi dem money.
So who benifits.
1. Investor returns will not improve
2. The government will save billions.
So I guess in the long run this is good for the country.
.
http://www.jamaica-gleaner.com/gleaner/20080222/business/business1.html
LORA said,
February 25, 2008 at 12:26 pm
So, does it seems that C+ is going to be paying come March 31th?. If so can one just close their account or are they going to be interest only. There’s so much confusion.
Charlibabe said,
February 25, 2008 at 3:51 pm
The ad in the Sunday Paper said interest payments only.
Gemini said,
February 25, 2008 at 8:36 pm
@ Lora & Charlibabe….I called them and was told that the plan is to work out the 4 owing months at 4.5% extra for the inconvenience of having to wait, and that cumulative total would be added to your principal and then they will disburse 10% of that new principal amount which means that your new monthly would be higher but I was also told that you wont be able to withdraw entire principal on April 1st. One disbursement option will be remittance depending on the amount. They are to outline the other method soon. I dont know if anyone heard otherwise.
Michael said,
February 26, 2008 at 12:00 pm
Butch Stewart and his Observer has proven they will do anything to stay on top, including destroying other people’s business and dreams.READER’S DIGEST ARTICLE JANUARY 2008.RD.COM , ENTER IN SEARCH BOX, DREAMERS OR KING OF VACATIONS.He did not want the competition from CP vacation club.
LORA said,
February 26, 2008 at 12:41 pm
I spoke to someone in the Kingston office at CashPlus today and was highly ticked off. The woman I spoke to said that they will only be making interest payments come April 1st. Here lies the problem. Interest is only going to be paid out to people who were taking their interest/money every month. As for us Suckers who were rolling over the interest- there will be no payout until “sometime in the future”.
What kinda foolishness is this?.
CashPlus is faking the funk!. Just how much longer do they plan on holding onto people’s money?. This is some bull!. CashPlus needs to step up, I lost patience with them a long time ago.
CashPlus- you have had way more than enough time to figure out, how you are going to pay people. Asking for more time to “figure” things out is an insult to one’s intelligence!.
Stop blaming NCB, FCS, ABCDEFG…do the right thing and give John Public their money. If you are indeed the Poor Man’s Savior- you sure know how to make the common man suffer!
Aziza said,
February 26, 2008 at 1:31 pm
Hey Lora…If I were you I would try switching my contract to the interest payment option. At least you won’t be left hanging.
Just a thought.
Antony said,
February 26, 2008 at 8:25 pm
I’m looking for that http://www.cashplusfamilynetwork.com/ but this link doesnt work, anyone got the corrected link.?
Catasha said,
February 27, 2008 at 8:54 am
Well if we don’t trust how the payment plans and dates are going we will have to get together as a team/ group, united we stand. We will have to take some form of action come April second failing no payments are being made, let cashplus see that we are quite serious, we have been very patient. As for rollover the information I received was that we could get our interest back but not full disbursements, so maybe I misunderstood what was said.
U.S..... said,
March 2, 2008 at 2:10 pm
Still waiting to hear how much money you made Rohen_GB…..you’re such an investment genius. Seriously how did you get so darn smart, I wish I could be you.
MARSHA said,
March 3, 2008 at 2:42 pm
Any update on how CashPlus is going to pay?. Does one have to fll out a Disbursement form?. How about if you were rolling over, can you change your method from rollover to getting back your interest. I keep calling, and no one at CashPlus picks up the phone.
Info said,
March 3, 2008 at 4:24 pm
Marsha
The Cash Plus Call Center number is 620-4506 Hours are 8am-5pm
Gemini said,
March 3, 2008 at 5:47 pm
I get through every time I call that # but it takes a while as usual as many people are inquiring.
Winston said,
March 6, 2008 at 7:05 pm
The link above did not seem to work, so the the full article here taken from the wall street journal.
Read very carefully, all you who invest with the alternatives. Now talk about openness and the secretative nature of “our local alternative”, well these guys take this to the next level.
This is what Paulson did.
At the same time, fearing imitators, he used software that blocked fund investors from forwarding his emails”. The man dont want him secrets getting in the hands of others. Something our alternatives need to examine carefully.
http://online.wsj.com/public/article/SB120036645057290423.html?mod=blog.
Winston said,
March 6, 2008 at 7:10 pm
Well guess what Pualson close friend was told his secret trading method/plans and this is what happened.
Any of this sounds familair, maybe the very reason the alternatives are reluctant to give much information on their operations.
Read it here:
http://online.wsj.com/article/SB120036270913390155.html?mod=Leader-US
U.S.... said,
March 7, 2008 at 12:09 am
Yep, the guy involved in Con Plus, er, Cash Plus, is on par with these high powered Wall Street guys…. Nope, don’t think so. Give it up Winston, your hope is misplaced. Cash Plus was a pyramid scheme…..
Ken said,
March 7, 2008 at 11:32 am
Does anyone here know what is going on with Olint. I put in a request for a withdrawal 3 weeks ago and I am just getting excuses. I want my money
Patricia said,
March 7, 2008 at 6:08 pm
Ken, you are one of many. People who put in requests over a month are also still waiting. Understand the frustration but that’s what it is right now. Anyway folks have actually been getting funds so keep the faith.
Ken said,
March 8, 2008 at 9:58 am
Thank you Patricia. I spoke with some people yesterday also who are in the same predicament. WE however were worried because this just seems similar to CP, Higgins, and the others that cant get there money
Winston said,
March 8, 2008 at 7:13 pm
Check this out, this may be part of the problem, it was posted on another site.
With the delay in redemptions etc…The “rumors” being planted are among others…
1. Wachovia will now not allow more than $US 5 million per month to be redeemed by the O. (O means Olint)
2. Wachovia is investigating clients
3. A redemption request for US $300 million is causing Wachovia to delay while it is investigated
Ken said,
March 8, 2008 at 10:47 pm
winston could you give me the name of that site. The thing is I work for a bank in the US and that does not sound plausible to me. I personally process wires for companies who wire over 2 million per day, I hope for gods sake this man has my money. anyway tell me the name of the other site please
Rapper said,
March 9, 2008 at 9:44 pm
Ken if you are in O you would have got the emails recently.
Winston said,
March 10, 2008 at 8:28 pm
http://cashplusinvestment.com/comments/comment-page-509/#comments
scroll down to post 5085
Winston said,
March 10, 2008 at 8:40 pm
http://www.radiojamaica.com/content/view/6232/52/
John D said,
March 11, 2008 at 10:19 am
Hey Guys
Olint is not like Cash Plus so you should never equate them. I know the business of olint well because i worked for the bank of New york as a currency trader moving to Merrill lynch. I invest in FX fund in the US and my returns on an average is 49% per year. The difference with US funds and Olint is that you cannot withdraw your principal without notice. Although FX trading is extreamly risky, don’t worry the company might just have a cash flow problem if too many people is drawing down their principal so payment, in this case payment should be slow and orderly.
LORA said,
March 11, 2008 at 10:53 am
Any update on CashPlus?.
wanmemonie said,
March 11, 2008 at 6:51 pm
http://www.radiojamaica.com/content/view/6284/26/
True to form, Cash Plus continues to fabricate lies to buy time. It’s fulla excuses and lied again and again as indicated by the following report -
Tuesday, 11 March 2008
NCB headquarters on Trafalgar Road. National Commercial Bank (NCB) says there is no truth to claims by embattled investment company Cash Plus Limited that the bank’s closure of its accounts is having a crippling effect on its operations.
A statement issued by Cash Plus on the weekend said it was facing difficulty paying workers and suppliers due its inability to access its accounts.
But NCB’s General Counsel, Dave Garcia dismissed the claim.
“I think it’s remarkable that it could be suggested that the closure of their accounts could have anything to do with making their payments because when we closed their accounts we gave Cash Plus back their money in manager’s cheques and we indicated that we would cash those cheques,” said Mr. Garcia.
“So with cash in hand and assuming the cash to be sufficient to meet their obligations then how could it possibly be that the closure of the accounts could prevent payment,” he said.
Responding to questions raised by Cash Plus as to why its accounts were closed, Mr. Garcia reiterated that the entity’s activities placed NCB at regulatory risk.
LORA said,
March 12, 2008 at 2:26 pm
Any one know C+ intentions of paying people who were Rolling over their money. They told me that they would be only paying interest, and no changes can be made to accounts that were in roll over status.
I read on another blog where the blogger said he called the FSC and was told that C+ told them they were going to be paying both principal & interest. What’s going on???.
Gemini said,
March 12, 2008 at 4:28 pm
@ Lora…As stated on the local news C+ said that they would be terminating the investment arm of their operations and will pay back investors principal/interest. FSC has indicated that this process should be completed by June 30th ( extra time being granted if needed ) if they intend to do so. FSC also stipulated that in order to do that process they should be supplied with 1. Total number of investors 2. Amount owing to investors 3. Methodology by which investors will be paid. I am disappointed in C+ intentions not to get licensed at this time. This constant changing of plans does not reflect positively on them. First you were asked to wait 3 months for them to regularise with FSC with promise of accumulated owing interest to be paid at end of waiting period in total. Then they changed stating that the accumulated owing amount would instead be credited to principal at an extra 4.5% for each month and come April you would get 10% of that new principal amount. Now they changed their minds again about getting registered with FSC at this time and plan to reimburse all with interest/principal. I really cant see how they will be able to pay over 40,000 people interest/principal by June 30th as the funds are all tied up in real estate and other fixed assets. It will undoubtedly appear as if its just another delay tactic by Mr. Hill. Also I think he is showing up himself even more by the press story of them saying the closure of his A/C’s by NCB is crippling his organization’s paying of some staff members etc. NCB gave him all the funds in Managers Cheques prior to closing the accounts and stated that they would honour all C+ cheques in order for him to meet his obligations so that argument holds no substance. Hoping for the best for all the investors but this isn’t looking good.