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The United States Securities and Exchange Commission (SEC) has filed an emergency action against Miami Investment Adviser, BKCoin Management LLC. In what comes as the latest in the series of enforcement actions from the regulator, it said BKCoin Management and its core principal, Kevin Kang were involved in a crypto asset
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The U.S. Securities and Exchange Commission (SEC) has filed an emergency action against Miami-based investment adviser Bkcoin and one of its principals, Kevin Kang. “The defendants disregarded the structure of the funds, commingled investor assets, and used more than $3.6 million to make Ponzi-like payments to fund investors,” the SEC
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The SEC has accused Kang of misappropriating at least $371,000 in customer funds for his personal use, including paying for vacations, tickets to sporting events and rent on his New York apartment. According to the SEC, Kang tried to cover his tracks by giving investors falsified documents with “inflated bank
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The United States Securities and Exchange Commission, or SEC, has targeted an investment adviser and individual allegedly connected to a $100-million cryptocurrency fraud in its latest enforcement action.According to a March 6 announcement, the SEC filed an emergency action on Feb. 23 against investment adviser BKCoin and one of the
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On Oct. 28, the firm’s core legal entity, BKCoin Management LLC, filed a complaint with the circuit court that alleged Kang had improperly diverted and/or commingled $12 million in cash and other assets out of the multi-strategy funds. BKCoin had terminated Kang’s employment on Oct. 14 but wasn’t sure if
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