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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

NOTICE TO HAENA PARK PHAETRA FUNDS INVESTORS: National Investor Fraud Law Firm KlaymanToskes Is ...

August 20, 2021 GMT

SAN FRANCISCO, Aug. 20, 2021 (GLOBE NEWSWIRE) -- National investor fraud law firm, KlaymanToskes (“KT”), is investigating on behalf of investors of Haena Park’s Phaetra Funds Ponzi-like scheme in light of the recently filed Class Action Complaint against Interactive Brokers ( Benjamin Chang v. Interactive Brokers LLC, N.D. Cal., Case No. 5:21-cv-05967). Investors should strongly consider exploring all their legal options regarding this Class Action Complaint.

According to the Interactive Broker Class Action allegations, Park lost over $14M of her investors’ contributions in a Ponzi-like scheme that was aided and abetted by Interactive Brokers (“IB”). For instance, in 2013 and 2014, Park established a series of fund entities under the name “Phaetra[,]” which served as vehicles Park claimed she would use to invest her clients’ money. Park then misused the funds for her own gain and made phony dividend payments to other investors. IB recognized Park’s account was used to conduct a fraud, but disregarded its own written internal compliance policies to further aid a lucrative customer. Park was eventually reported to authorities, arrested, and sentenced to 3 years in prison in 2018.

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The sole purpose of this release is to investigate on behalf of investors who lost money with Haena Park and the Phaetra Funds Ponzi-like scheme. In furtherance of our investigation, KT encourages investors who lost in excess of $100,000 to contact securities attorney Lawrence L. Klayman, Esq. at (561) 542-5131, and download our Special Report.

About KlaymanToskes

KT is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. KT has recovered more than $220 million for investors in FINRA arbitrations. KT has office locations in California, Florida, New York, and Puerto Rico.

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Destination: https://klaymantoskes.com/haena-park-phaetra-funds-investigation/

Contact

KlaymanToskes
Lawrence L. Klayman, Esq.
(561) 542-5131
lklayman@klaymantoskes.com
www.klaymantoskes.com