Cash Plus Felon
The front page news breaking today in the Jamaica Observer is that the founder and president of Cash Plus is a convicted felon, who served some number of years in prison in the U.S.
Click here to see the article.
Apparently, he returned to Jamaica to start the business that is currently the source of so much controversy.
My own take on it is that the recent revelations are bound to be damaging, but the problem is that the business is apparently having a difficult time in providing the double digit monthly returns that it promises its "shareholders."
The story I have heard is that people have been promised up to 18% returns each month. Anyone who is a student of statistics knows that based on simple compound interest laws alone that such returns are unsustainable.
It's the reason why Amway, Ponzi schemes and the like MUST have losers, because if everyone won, there would not be enough people on the planet to keep it going.
In like manner, CashPlus must spawn losers, because at that rate of growth, it would gobble up all the cash in the world in only a few years (someone else can do the math.)
This says nothing against Carlos Hill's integrity. Instead, it's a law of the universe that 's bigger than any of us that just cannot be broken.
I fear the worst, and it would be a good move for him to declare that his investors should expect lower returns from this point on, to help cushion the blow they are bound to experience at this rate.
While returnees are welcome back here in Jamaica, as is their busines acumen, it remains to be seen whether or not this particular enterprise will stand the test of time. I am certain that his background must be giving his investors some pause for thought this morning, as they realize they are in business with an ex-con.