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Fisher Capital Management Strategies: South Korea Officials Involved in Dia mond Scam

http://fishercapitalmanagementstrategies.com/

Some high-ranking officials and diplomats have been accused of masterminding a scam to profit from a deal involving a F isher Capital Management diamond mine. The accusation center s on whether they deliberately overvalued the diamond reserv es and controlled the stock prices of the mining firm in que stion, CNK.



The scandal centers on the ambassador for resources and ene rgy, Kim Eun-seok, who is suspected of helping his kin in bu ying company shares prior to the Ministry of Foreign Trade a nd Affairs’ publicizing the deal in 2010.



The shares of CNK showed a 5-fold rise in just three weeks after the announcement from the ministry. Kim’s relatives al legedly made tons in profits by selling their shares. And as of now, nobody can be sure if no other officials have profi ted from the same way.

2012年03月02日 17:33  by kloepearl