Published 2 years ago • loading... • Updated 2 years ago

SEC Files Emergency Action Against BKCoin for Running $100M ‘Ponzi-Like’ Scheme

Summary by Ground News

The SEC successfully obtained an asset freeze, appointment of a receiver, and other emergency relief against Miami-based investment adviser BKCoin Management LLC and one of its principals, Kevin Kang. From at least October 2018 through September 2022, BK coin raised approximately $100 million from at least 55 investors to invest in crypto assets. The SEC alleges that the defendants disregarded the structure of the funds and used more than $3.6 million to make Ponzi-like payments to investors.

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Cryptonews.com

Center

SEC Takes Swift Action Against BKCoin and Kevin Kang for Alleged Involvement in $100 Million Crypto Fraud

The SEC is taking “emergency action” against crypto hedge fund BKCoin co-founder Kevin Kang for “Ponzi-like conduct.”

2 years ago

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IBTimes

Center

Florida Court Grants SEC Emergency Action To Shutdown BKCoin For $100M 'Ponzi-Like' Scheme

The crypto hedge fund co-founder was also accused by the SEC of spending nearly $400,000 on investor funds for himself, which includes a $35,000 payment for rent in a vacation house in Montauk, New

2 years ago·United States

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Coin Desk

Center

SEC Files Emergency Action Against BKCoin for Running $100M ‘Ponzi-Like’ Scheme

BKCoin co-founder Kevin Kang is accused of misappropriating client funds to bankroll vacations, purchase tickets to sporting events and pay rent on his New York City apartment.

2 years ago·Manila, Philippines

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watcher.guru

Center

SEC Files Emergency Action Against BKCoin for $100 Million Crypto Fraud Scheme

The SEC has filled an emergency action against Miami-based investment adviser BKCoin over $100 million crypto fraud scheme

2 years ago

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cryptodaily.co.uk

SEC Initiates Emergency Action Against BKCoin For Fraud Scheme

The Securities and Exchange Commission has initiated an emergency action against investment advisor BKCoin Management.

2 years ago

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investmentshoax.com

SEC Busts BKCoin for Running $100M 'Ponzi-Like Scheme' - Finance Magnates —

SEC Busts BKCoin for Running $100M 'Ponzi-Like Scheme' - Finance Magnates - SEC Busts BKCoin for Running $100M 'Ponzi-Like Scheme' Finance Magnates Read more...

2 years ago

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