Migom Bank Ltd., its parent company, its CEO, and others conducted a massive fraud that resulted in criminal proceedings and the shutdown of bank operations, leaving company stock worthless, an investor alleges.
AMJ Global Entertainment LLC says on behalf of a proposed class that its own $31 million investment is gone, as is the rest of the $750 million in total investments in Migom Global Corp., the bank’s parent. AMJ filed its suit Aug. 30 in the US District Court for the Southern District of New York.
Migom Bank CEO Thomas A. Schaetti issued false financial information, diverted the company’s ...
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