Depositors with Cash Plus seem likely to have a long wait for any chance of recouping their investment  as the report of the receiver/manager for the investment scheme found that the company will not be able to repay its depositors until it acquires a substantial portion of the real estate and recovers deposits it made on failed transactions.

According to the findings of a report, the company currently has no cash in its coffers to repay its investors. 

The receivership team has found that Cash Plus was not operating as a financially viable entity and found no documentation to support the scheme's management philosophy, methodology or financial plans. 

According to the receivership team's report, Cash Plus had poorly maintained accounting records, inadequate financial planning, inadequate internal controls and an unsustainable business model, including minimal revenue-generating activities.

The report states that, in many instances, Cash Plus entered into transactions to acquire companies, real estate and other tangible assets but the majority of these transactions were never completed and often stalled after preliminary discussions and tendering of initial deposits.

Cash Plus lenders, which by some estimates amount to between 35,000 and 45,000 people, reportedly loaned the company some $22 billion.  However, the report states that, up to March 31, the company's cash and liquid assets amounted to less than $3 million.

The receivers say the majority of the money used for repayment appears to have come directly from the funds received from lenders.

According to the report, Cash Plus did not appear to have had sufficient income-generating activities to support the interest payments and to pay staff.

Cash Plus CEO, Carlos Hill, his brother, Bertram, and CFO Peter Wilson are to return to court on July 17 to answer to fraud related charges.