Day: April 5, 2015

Victims of Financial Wrongdoing Need a More Muscular S.E.C.; The regulator lacks the power to extract fines equal to the losses of harmed investors, often making class-action suits their best recourse

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http://www.nytimes.com/2015/04/05/business/victims-of-financial-wrongdoing-need-a-more-muscular-sec.html?_r=0

Victims of Financial Wrongdoing Need a More Muscular S.E.C.

APRIL 4, 2015

By GRETCHEN MORGENSON

Given the many billions of dollars financial companies have paid in regulatory and legal settlements related to the mortgage crisis, how much money has actually found its way into the pockets of investors harmed by their actions? Continue reading →

Black Eats Black: Quah Su-Ling, the chief executive of public-listed Ipco involved in Asiasons-Blumont-LionGold-Ipco penny scam, lost her $50 million law suit against Goldman Sachs in London for alleged breach of contract – and was ordered to pay $15.5 million to the investment bank instead

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http://business.asiaone.com/print/news/spore-investor-loses-suit-against-goldman-sachs-must-pay-155m

Related Post: Accounting Fraud and Pump-and-Dump Schemes: Penny Stock Pawnbroker Had a Clever Trick to Get Paid

S’pore investor loses suit against Goldman Sachs, must pay $15.5m

Saturday, Apr 04, 2015

K C Vijayan

The Straits Times

A Singaporean investor lost her $50 million law suit against Goldman Sachs in London for alleged breach of contract – and was ordered to pay $15.5 million to the investment bank instead. Ms Quah Su-Ling, the chief executive of public-listed Ipco International, sued Goldman Sachs International for allegedly having “dumped” 65 million of her shares in the market in October 2013, causing a dramatic price fall. Goldman had held the shares in Asiasons, Blumont and LionGold together with other assets as collateral from Ms Quah for a loan facility from which she had drawn about $56 million. Continue reading →