Group calls for receiver manager removal

A group of people calling themselves the ‘Friends of Cash Plus’ is seeking to have the Cash Plus receiver manager removed.



The Supreme Court appointed Kevin Bandoian of Pricewaterhouse Coopers in the United States as joint receiver manager of Cash Plus in May.



The founder of ‘Friends of Cash Plus’, Birton Smith is claiming that the receiver manager was placed in the position illegally.



According to Mr. Smith, the receiver manger has not been acting in the interest of the investors.



He said the receiver manager has not met with the investors whose interest he should be representing.



Mr. Smith said he does not believe the report of the receiver manager, which suggests that Cash Plus is broke and cannot make payouts.



Mr. Smith said ‘Friends of Cash Plus’ would be seeking to mobilise the approximately 46,000 investors in an effort to come up with solutions to recover their money from the company.



He said a meeting would be held at 4 p.m. tomorrow at the Jacisera Park off Molynes Road, Kingston 10 with investors and well wishers of the company.