From 2010 to 2016, Haena Park enrolled investors in a forex investment fund she claimed had a track record of success. Through the brokerage firm Interactive Brokers, Park had actually lost millions of her investors' funds, in many cases robbing them of their life savings. Park has since been sentenced to prison and Interactive Brokers has been fined millions of dollars by regulators for its part in the scheme.
Ponzi schemes are impossible without the partnership of banks. When banks know their customers are defrauding investors and aid or abet in the fraud, they too may be held liable for the investors' losses.
On August 2, 2021, EKO filed a class action against Interactive Brokers for its role in the Haena Park Ponzi scheme. The case seeks to return to investors the funds stolen through Park's Ponzi scheme.
Click here to learn more about the case.
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