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7 executives of Platinum Partners charged with US$1 bil fraud

Michelle Zhu Published on Wed, Dec 21, 2016 / 3:36 PM GMT+8

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SINGAPORE (Dec 21): Back in November 2013, The Edge Singapore reported a US-based hedge fund called Platinum Partners, and entities linked to it, had agreed to provide some US$560 million ($809 million) in funding to Asiasons Capital (now known as Attilan Group), Blumont Group and LionGold Corp in August, September and October that year.

In the story “Was Black Elk the black swan that sank Asiasons, Blumont and LionGold?”, it was also reported that a company called Black Elk Energy Offshore Operations LLC, which is controlled by Platinum Partners and its affiliates, tried to sell Attilan a 27.5% stake in the company for a total of US$171.65 million.

(See: Was Black Elk the black swan that sank Asiasons, Blumont and LionGold?)