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All Carlos needed was $20m
Monday, April 14, 2008
Dear Editor,
It has been reported that Cash Plus Limited's balance sheet shows "Principal Under Management" of $16 billion.
This should be "chicken feed" to a man who promised a return of 10 per cent per month on amounts invested in his company. For if Carlos Hill had invested just $20 million in 2002 when his company was formed, he would now have over $19 billion.
A sum of $20,000,000 invested for 72 months (2002 to 2008) at 10 per cent per month compounded would now be worth exactly $19,111,876,355.
Carlos would be able to pay out all the principal and still have over $3 billion in his name.
Maybe it's a case of not practising what you preach.
Egerton Chang
e_rider69@hotmail.com
Monday, April 14, 2008
Dear Editor,
It has been reported that Cash Plus Limited's balance sheet shows "Principal Under Management" of $16 billion.
This should be "chicken feed" to a man who promised a return of 10 per cent per month on amounts invested in his company. For if Carlos Hill had invested just $20 million in 2002 when his company was formed, he would now have over $19 billion.
A sum of $20,000,000 invested for 72 months (2002 to 2008) at 10 per cent per month compounded would now be worth exactly $19,111,876,355.
Carlos would be able to pay out all the principal and still have over $3 billion in his name.
Maybe it's a case of not practising what you preach.
Egerton Chang
e_rider69@hotmail.com