6 Things You Need To Know Today

Your news in a nutshell

  1. No payday for Cash Plus depositors
  2. Gangs responsible for nearly 50% Hanover murders
  3. Bushing contractor hits out at OCG
  4. Five killed in St James
  5. Cabinet writes of $106b in debt
  6. Cash Plus depositors may have breached law

Carlos Hill

1. No payday for Cash Plus depositors

Two weeks after former Cash Plus boss Carlos Hill was freed of fraud charges, the state agency handling the liquidation of his failed unregulated investment scheme has signalled that depositors should not expect a full refund anytime soon. The Office of the Government Trustee revealed yesterday that the losses to Cash Plus depositors have been calculated at just over $19 billion, almost doubling the initial reports. See full story on The Gleaner website.

2. Gangs responsible for nearly 50% Hanover murders

The Ants Nest, 100 Rounds, One Link, and One Voice gangs are responsible for approximately 13 of the 31 murders which have taken place in Hanover since the start of the year, according to Divisional Commander of the Hanover Police Division Sharon Beeput.  See full story on The Gleaner website.

3. Bushing contractor hits out at OCG

One of the contractors in the Government’s controversial 600 million dollar de-bushing programme is taking issue with the Contractor General Dirk Harrison. Tyrone Robinson is charging that Mr. Harrison is giving the wrong impression that he’s avoiding the Office of the Contractor General (OCG) in an attempt sidestep its probe into the programme. See full story on The Gleaner website.

4. Five killed in St James

The murderous rampage by gunmen in St James claimed five new victims this week – a triple and single murder in Barrett Town and a single murder in Granville – in an eight-hour span between late Tuesday night and early Wednesday morning. The latest murders bring the parish’s body count for 2017 to 110. St James had a record 268 murders last year. See full story on The Gleaner website.

5. Cabinet writes off $106b in FINSAC debt

Approximately 20 years after the Jamaican Government set up the Financial Sector Adjustment Company Limited (FINSAC) to protect investments of policyholders, depositors, and pensioners in the wake of the financial sector meltdown, the Cabinet has approved debt write-off owed to the institution amounting to $106.2 billion. Information Minister Senator Ruel Reid told journalists yesterday at a post-Cabinet press briefing at Jamaica House that the disposal of assets by FINSAC was now almost complete. See full story on The Gleaner website.

6. Cash Plus depositors may have breached law

The Office of the Director of Public Prosecutions (DPP) has disclosed that investors in the failed ponzi scheme Cash Plus may have breached the law when they signed up with the company. This afternoon, the DPP, Paula Lewellyn, released a 30 page document defending her office’s handling of the case against the company’s principal, Carlos Hill, which culminated with him being freed last month. See full story on The Gleaner website.