Serpo
26th May 2013, 03:37 PM
HKMEx Scandal Widens As 4 Officials Arrested With $1/2 B in False Bank Documents
May 25, 2013
Last weekend we broke the news to US readers that the HKMEx was closing and would cash settle all futures contracts effective Monday, 5/20.
The intrigue around the exchange’s failure exactly 2 years after it’s 2011 launch just increased substantially, as 4 high level HKMEx executives have been arrested after being found with over $1/2 billion in false bank documents.
The HKMEx founder and CEO Barry Cheung Chun-yuen is reportedly now also under investigation for his involvement in the scandal.
More… (http://silverdoctors.com/hkmex-scandal-widens-as-4-officials-arrested-with-12-b-in-false-bank-documents/)
In The News Today (http://www.jsmineset.com/2013/05/25/in-the-news-today-1548/)
Posted May 25th, 2013 at 12:30 PM (CST) by Jim Sinclair (http://www.jsmineset.com/author/jimsinclair/) & filed under In The News (http://www.jsmineset.com/category/in-the-news/).
Jim Sinclair’s Commentary
What a world of twists and turns.
Draghi and Bernanke were livid when Cyprus was announced? Is she playing in a league above her? This situation under which she is in charge is old.
Head of the IMF Christine Lagarde in court charged with embezzlement and fraud
Peter Allen
23 May 2013
The head of the International Monetary Fund arrived in the dock of a Paris courtroom today as she braced herself to be formally charged with embezzlement and fraud.
Christine Lagarde’s humiliation is not only a massive personal blow which could lead to her resignation, but one which will plunge the world’s banking system into further ignominy.
The clearly nervous 57-year-old said nothing to reporters as she entered the Court of Justice of the Republic, a special tribunal set up to judge the conduct of France’s government ministers, shortly after 8.30am.
Lagarde faces a maximum sentence of 10 years in jail if found guilty of the very serious charges.
It was when she was President Nicolas Sarkozy’s finance minister that she is said to have authorised a 270 million pounds payout to one of his prominent supporters, so abusing her government position.
The money went to Bernard Tapie, a convicted football match fixer and tax dodger who supported Lagarde and Sarkozy’s UMP party.
It came after Dominque Strauss-Kahn, another senior French politician, was sacked as IMF chief following allegations that he attempted to rape a chambermaid in a New York hotel.
More…
http://www.jsmineset.com/ (http://www.standard.co.uk/news/world/head-of-the-imf-christine-lagarde-in-court-charged-with-embezzlement-and-fraud-8628670.html)
May 25, 2013
Last weekend we broke the news to US readers that the HKMEx was closing and would cash settle all futures contracts effective Monday, 5/20.
The intrigue around the exchange’s failure exactly 2 years after it’s 2011 launch just increased substantially, as 4 high level HKMEx executives have been arrested after being found with over $1/2 billion in false bank documents.
The HKMEx founder and CEO Barry Cheung Chun-yuen is reportedly now also under investigation for his involvement in the scandal.
More… (http://silverdoctors.com/hkmex-scandal-widens-as-4-officials-arrested-with-12-b-in-false-bank-documents/)
In The News Today (http://www.jsmineset.com/2013/05/25/in-the-news-today-1548/)
Posted May 25th, 2013 at 12:30 PM (CST) by Jim Sinclair (http://www.jsmineset.com/author/jimsinclair/) & filed under In The News (http://www.jsmineset.com/category/in-the-news/).
Jim Sinclair’s Commentary
What a world of twists and turns.
Draghi and Bernanke were livid when Cyprus was announced? Is she playing in a league above her? This situation under which she is in charge is old.
Head of the IMF Christine Lagarde in court charged with embezzlement and fraud
Peter Allen
23 May 2013
The head of the International Monetary Fund arrived in the dock of a Paris courtroom today as she braced herself to be formally charged with embezzlement and fraud.
Christine Lagarde’s humiliation is not only a massive personal blow which could lead to her resignation, but one which will plunge the world’s banking system into further ignominy.
The clearly nervous 57-year-old said nothing to reporters as she entered the Court of Justice of the Republic, a special tribunal set up to judge the conduct of France’s government ministers, shortly after 8.30am.
Lagarde faces a maximum sentence of 10 years in jail if found guilty of the very serious charges.
It was when she was President Nicolas Sarkozy’s finance minister that she is said to have authorised a 270 million pounds payout to one of his prominent supporters, so abusing her government position.
The money went to Bernard Tapie, a convicted football match fixer and tax dodger who supported Lagarde and Sarkozy’s UMP party.
It came after Dominque Strauss-Kahn, another senior French politician, was sacked as IMF chief following allegations that he attempted to rape a chambermaid in a New York hotel.
More…
http://www.jsmineset.com/ (http://www.standard.co.uk/news/world/head-of-the-imf-christine-lagarde-in-court-charged-with-embezzlement-and-fraud-8628670.html)