RSM Cayman Islands and Ken Krys create Ponzi Scheme
RSM Cayman Islands and Ken Krys have utilized their role as liquidators in the SEGOES Liquidation to create a Ponzi Scheme to defraud the creditors of any possibility of receiving any funds.
When Mr. Krys took over the liquidation of SEGOES, if the creditors were immedietely paid, they would have received approximately 70 cents on the dollar. Now that Mr. Krys has spent all the funds within the SEGOES coffers, creditors will receive nothing!
If one wanted to create a case study on how not to handle a liquidation proceeding, just analyze what Krys has done with the SEGOES liquidaiton.
He has lied in affidavits and to the press to create a scheme whereby the only person receiving any funds is himself and his lawyers. The Cayman Courts have seemingly turned a blind eye towards Krys's activities despite many objections raised by various Cayman Lawyers and are unwilling to stop the corrupt Krys from his pillaging.
Krys was the Head of Compliance for CIMA (Cayman Islands Monetary Authority) prior to his establishing RSM Cayman Islands a franchise of RSM Robson Rhodes LLP. Many blame Krys for a lack of oversight in his role at CIMA. Ironically, now Krys sits in charge of a Liquidation Proceeding for SEGOES while he failed as its regulator. The Courts in Cayman don't have much concern regarding Conflict of Interests.
When Mr. Krys took over the liquidation of SEGOES, if the creditors were immedietely paid, they would have received approximately 70 cents on the dollar. Now that Mr. Krys has spent all the funds within the SEGOES coffers, creditors will receive nothing!
If one wanted to create a case study on how not to handle a liquidation proceeding, just analyze what Krys has done with the SEGOES liquidaiton.
He has lied in affidavits and to the press to create a scheme whereby the only person receiving any funds is himself and his lawyers. The Cayman Courts have seemingly turned a blind eye towards Krys's activities despite many objections raised by various Cayman Lawyers and are unwilling to stop the corrupt Krys from his pillaging.
Krys was the Head of Compliance for CIMA (Cayman Islands Monetary Authority) prior to his establishing RSM Cayman Islands a franchise of RSM Robson Rhodes LLP. Many blame Krys for a lack of oversight in his role at CIMA. Ironically, now Krys sits in charge of a Liquidation Proceeding for SEGOES while he failed as its regulator. The Courts in Cayman don't have much concern regarding Conflict of Interests.
posted by Etym at 8:04 AM
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