The executives of a controversial Jamaican investment scheme may have used letters of credit (L/Cs) to channel investors' funds across several continents.

Investigators into the ongoing Cash Plus saga have uncovered a web of complex financial activities involving billions of dollars linked to its senior executives.

Pyramid scheme

Investors in Cash Plus, which appears to be a kind of elaborate pyramid scheme, became concerned about the safety of their investments towards the end of last year.

Now, after a high profile investigation, the scheme's head, Carlos Hill, along with his brother Bertram and Cash Plus' senior director of investment, Peter Wilson, have been arrested.

Money trail

According to investigators, documents have been found suggesting a worldwide trail to accounts where money invested in Cash Plus may have ended up.

Police are trying to confirm whether L/Cs or other financial instruments may have been used for the transfer of massive amounts of cash into such bank accounts.

Local media is reporting that several accounts, one allegedly with around US$1 billion in it, may be connected with the Cash Plus saga.

Ongoing investigations

Investigators are said to be examining transactions in Ghana, the UK, the Dominican Republic, British Virgin Islands, Holland, Spain, Kuwait and China.

Investors meanwhile must wait to see how much of the money they sank into Cash Plus will be retrieved.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.