On June 2, Haena Park was arrested on commodities fraud and wire fraud charges after allegedly defrauding over 20 investors of more than $23 million. Park was able to solicit these investments by claiming to have a very successful trading record, when, in fact, Park’s investment history was troubled. After subsequently losing nearly all of the attained funds, Park allegedly attempted to cover up the failure by making false statements to initial investors and then paying them back with money from new investors. United States v. Park, 16-cr-473 (S.D.N.Y.). DOJ Press Release.
