IIG fund liquidators sue Oscar Ordoñez over alleged $122M fraud

Liquidators of two Cayman Islands mutual funds filed a New York lawsuit against Colombian/Panamanian businessman Oscar Ordoñez over an alleged $122M fraud.

IIG fund liquidators file New York lawsuit over $122M fraud claim

According to offshorealert.com, the liquidators of two Cayman Islands mutual funds operating under the name IIG have filed a lawsuit in New York targeting Colombian/Panamanian businessman Oscar Ordoñez and a number of co-defendants.

The suit names entities incorporated in the Bahamas, British Virgin Islands, Canada, Colombia, Panama and the United States as additional defendants.

The liquidators allege that a fraud of $122 million was "perpetrated" by Ordoñez and are seeking to recover the alleged proceeds through the New York court action.

Source: Google News KY — Crime