All posts tagged "Ponzi Scheme"
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166EnforcementFSS Korea Orders Woori, IBK to Compensate Lime Investors
The FSS will encourage banks and securities firms that sold frozen Lime funds to voluntarily settle disputes with other investors based rates set at the ruling.
February 25, 2021 -
335EnforcementSeoul Court Jails Daishin Securities Executive Over Fund Losses
The FSC has also revoked the registration of Lime Asset Management, imposed a 950mn won fine against the firm and ordered the suspension of its staff and executive personnel.
December 7, 2020 -
593Australia & NZAustralian Police Charge Ex-Promoter of Failed Crypto Platform
The former BitConnect promoter is said to have operated an unregistered managed investment scheme and provided unlicensed financial advice.
November 20, 2020 -
1.1KEnforcementKorean Prosecutors Raid Brokerage Firms Over Lime Asset Mis-selling
Investigators from Seoul’s prosecution office raided the headquarters of Shinhan Investment Corp, Korea Investment & Securities, and KB Securities last week.
November 3, 2020 -
805Enforcement
Korean Regulators to Revoke Lime Asset Management Licence
Subject to FSC approval, the FSS will revoke Lime's business registration and order the company to dismiss its CEO, who was arrested in July.
October 21, 2020 -
591AML / KYCFinCEN Files Reveal AML Failures at Global Banks
The trove of documents shows that the banks allowed $2tr to flow through the financial system despite having flagged the transactions as suspicious.
September 22, 2020 -
1.5KChinaChina’s P2P Crackdown Leaves Just 29 Operators in Business
Savers who invested in the thousands of now-defunct P2P platforms over the last several years have not yet managed to recover their funds.
August 18, 2020 -
1.4KEnforcement
Korea: Lime Asset Faces Legal Action for Concealing Hedge Fund Losses
Lime Asset Management suspended redemptions in three funds in October. One of them had 240bn won invested with New York-based IIG, which has since been charged with securities fraud.
January 6, 2020 -
424Australia & NZUnauthorised New Zealand Adviser Jailed for 6 Years, 8 Months
The sentence follows a conviction in August of 38 charges relating to a multi-million dollar fraud, set up to fund a lavish lifestyle and targeting vulnerable individuals.
October 31, 2019 -
480Australia & NZ
Unauthorised New Zealand Adviser Faces Lengthy Jail Term
A New Zealand court has reportedly convicted an unauthorised financial adviser of 38 charges relating to a long-running fraud which funded a lavish lifestyle of private jets and jewellery.
August 20, 2019
