Korea: Lime Asset Faces Legal Action for Concealing Hedge Fund Losses (RegulationAsia.com) 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. South Korea’s FSS (Financial Supervisory Service) is reportedly considering taking legal action against hedge fund manager Lime Asset Management for alleged concealing losses from its investors.
Not a big deal at all. Frauds are very common and everywhere in this country. The number of fraud charges is bigger than theft charges.... which is the only one in the world! Very corrupted country and their former presidents 'customarily' go to jail.