THE EDITOR, Sir:

According to your publication of April 10, 2008, Cash Plus 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 he had invested just $20 million in 2002 when his company was formed, he would now have over $19 billion.

A total of $20,000,000 invested for 72 months (2002-2008) 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.

I am, etc.,

EGERTON CHANG