Lawsuits shine light on Goldman’s role in Asiasons, Blumont and LionGold crash

[pianist]

However IMHO I think all these people leads back to a Malaysia linked entity.

Do you think they are just the foot soldiers?

besides s-chips, we now need to take note of m-chips..

[specuvestor]

However IMHO I think all these people leads back to a Malaysia linked entity.

Do you think they are just the foot soldiers?

Soh and Lee were good friend from same Kumpung of Batu Pahat.

IIRC when Lion Gold first started being promoted by DMG, we asked them why they can acquire assets in Africa, answer was there was a well-connected Malaysian involved.

That is why I am not surprised that Malsysia linked brokers are involved. I am surprised that GS is involved. I'm wondering now who told GS to pull the plug. It would be interesting to see GS defence.

[valueinvestor]

GS need to cover own backside.

[mulyc]

i dont mean to cause any panic.

but with this whole GS lawsuit exposing their upward pyramiding schemes, doesn't it imply that all three counters could potentially run down to zero (or near that, NAV maybe?), given that these companies had almost no propensity to make money in the first place and were driven high simply on herd and hope?

[Dividend Warrior]

with this whole GS lawsuit exposing their upward pyramiding schemes, doesn't it imply that all three counters could potentially run down to zero (or near that, NAV maybe?), given that these companies had almost no propensity to make money in the first place and were driven high simply on herd and hope?

I agree with your opinion. These companies have weak fundamentals to begin with. The law suits are making things even worse. Today, Blumont has fallen another 10%.

I can only imagine angry and frustrated shareholders at the companies' next AGM, demanding answers from the management.

[dydx]

I thought this quotation from Warren Buffett could not be more apt: Risk comes from not knowing what you're doing.

[pianist]

seems like GS knows what they are doing...impressive

[brattzz]

seems like GS knows what they are doing...impressive

BIG shorting positions taken? :O

[GPD]

If SC did do a BIG short, does it mean they act on insider info?

[valueinvestor]

Evils vs evils , who is lesser evil ?