$49M fraud case against Coinful Capital founders brought before Cayman court

Investment firm Absolute Digital Technology Management LLC is suing four Asian nationals in the Cayman Islands over alleged fraud of $49 million.

Cayman court receives $49M fraud claim against Coinful Capital defendants

Cayman Islands investment firm Absolute Digital Technology Management LLC has filed a civil fraud case against four individuals with nationalities from Costa Rica, New Zealand and Singapore, according to offshorealert.com.

The defendants — Carlos Salas, Stephen Lynch, Mark Yong and Emily Hwang — are accused of defrauding the claimant of $49 million through a scheme involving an investment fund that operated under the name Coinful Capital.

All four suspects are resident in Asia; nevertheless, the lawsuit has been filed at a court in the Cayman Islands, where the investment entity in question is registered.

Source: Google News KY — Crime