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In 2011, he was found guilty of fraudulent solicitation, misappropriation, and misrepresentation to investors and regulatory organizations, and an injunction was sought preventing him from trading in commodities futures and foreign currencies. A $ 12.5 million default judgement was entered against
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preventing them from trading in commodities futures and foreign currencies. The agency said Kim and his employees told clients that Liquid
Capital generated returns of more than 240 percent, when in fact they were losing money, and the only funds coming in were from new deposits by clients.
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CFTC Release: pr6028-11; New York
Federal Court Orders Brian Kim and Liquid Capital Management, LLC, to Pay More than $ 12 Million in Restitution and Monetary Sanctions for Commodity Pool Fraud; Defendants were indicted by a New York County Grand Jury in February
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In March 2012, he pleaded guilty to passport fraud by attempting to acquire a new passport from by claiming his was lost. In reality, his passport was already confiscated by prosecutors. He was sentenced in April 2012 to 14 months in prison.
684:"Ex-NY hedge fund head who fled admits $ 4M swindle; Former Liquid Capital Management manager Brian Kim admitted to stealing more than $ 4 million from investors and hundred of thousands of dollars from his condominium board"
261:. He had fled to Hong Kong after obtaining a new passport by saying his was lost. In fact it had been confiscated by authorities. He was taken into custody in Hong Kong in October 2011, and was returned to the United States.
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while providing them with fake monthly performance statements. According to prosecutors, he misrepresented the quality of the investments to his clients, while stealing some of the money for himself.
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The CFTC sued Kim and Liquid
Capital in February 2011, charging them with fraudulent solicitation, misappropriation, and misrepresentation to investors and regulatory organizations, and seeking an
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On March 16, 2012, Kim pleaded guilty to nine of the 26 counts against him, including grand larceny, scheme to defraud, violation of the NY General
Business Law (
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in
Manhattan to five to 15 years in state prison, which was to commence after Kim had served seven months in federal prison on his passport fraud conviction.
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of $ 12.5 million against him, and he and Liquid
Capital were banned from further commodity trading. In addition, the court froze his assets.
722:"Order for Entry of Default Judgment Permanent Injunction and Ancillary Equitable Relief against Brian Kim and Liquid Capital Management, LLC"
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324:), and falsifying business records in connection with the Ponzi scheme charge, and stealing $ 435,000 from the Christadora House.
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249:. He was indicted and arrested in 2009, and accused of stealing $ 435,000 from the Christodora House condo association in 2008.
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273:(CFTC) into his hedge fund business, in February 2011, Kim was charged both civilly and criminally with financial fraud,
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658:"DISTRICT ATTORNEY VANCE ANNOUNCES GUILTY PLEA OF BRIAN KIM IN $ 6 MILLION PONZI SCHEME AND 2009 GRAND LARCENY CASE"
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This article is about the
American hedge fund manager. For the Korean entrepreneur and founder of Kakao, see
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manager. He founded the now-defunct Liquid
Capital Management LLC, which focused on
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from
January 2003 through January 2011, and cheating at least 45 investors from the
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660:. The New York County District Attorney's Office. March 16, 2012. Archived from
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In the Matter of: BRIAN KIM, and LIQUID CAPITAL MANAGEMENT, LLC, Registrants
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He founded the now-defunct Liquid
Capital Management LLC, which focused on
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622:"CNBC pundit and hedge-fund operator at heart of $ 4 million Ponzi scheme"
597:"CNBC pundit and hedge-fund operator at heart of $ 4 million Ponzi scheme"
396:"Liquid Capital's Brian Kim Pleads Not Guilty to Hedge-Fund Ponzi Charges"
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Kim failed to appear at his trial in January 2011, and was charged with
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Kim was born in the late-to-mid 1970s in New Jersey. He graduated from
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in 1997, where he had majored in economics and minored in art history.
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In April 2012, Kim was sentenced by Justice Charles H. Solomon in
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Prisoners and detainees of the United States federal government
185:, scheme to defraud, violation of the NY General Business Law (
106:, scheme to defraud, violation of the NY General Business Law (
738:, U.S. Commodity Futures Trading Commission, November 9, 2012
568:"Hedge Fund Ponzi Schemer Has Surprisingly Lowbrow Appetites"
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found the defendants guilty of all charges. She entered a
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712:"Ex Parte Statutory Restraining Order Freezing Assets ..."
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American chief executives of financial services companies
503:"Hedge Fund Founder Kim Gets Five to 15 Years for Scheme"
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U.S. District Court for the Southern District of New York
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Chris Dolmetsch and Tiffany Kary (November 4, 2011).
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American people convicted of making false statements
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CFTC v. BRIAN KIM and LIQUID CAPITAL MANAGEMENT, LLC
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CFTC v. BRIAN KIM and LIQUID CAPITAL MANAGEMENT, LLC
421:"NY Investor Charged With Running $ 4M Ponzi Scheme"
718:, Southern District of New York, February 15, 2011
501:Dolmetsch, Chris; Glovin, David (April 20, 2012).
455:"Fugitive alum. indicted for fraudulent operation"
277:, and scheme to defraud for running a $ 6 million
121:5 years, 7 months, to 15 years, 7 months in prison
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177:In 2012, he pleaded guilty to charges including
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537:"Hedge fund manager sentenced for Ponzi scheme"
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245:Brian Kim owned and lived in an apartment at
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767:American businesspeople convicted of crimes
352:"Fugitive hedge fund manager pleads guilty"
265:Ponzi scheme charges and default judgment
158:"; born 1975/1976) is an American former
41:1975 or 1976 (age 48–49)
837:People from the East Village, Manhattan
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98:Pleaded guilty to charges including
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427:. February 15, 2011. Archived from
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802:American people convicted of fraud
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566:Nitasha Tiku (February 17, 2011).
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227:'s financial television news show
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807:Businesspeople from New York City
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350:Karen Freifeld (March 16, 2012).
797:American prisoners and detainees
762:21st-century American criminals
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457:. The Dartmouth. Archived from
223:In 2009, Kim twice appeared on
216:, in 2002 and had an office on
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812:American confidence tricksters
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269:After an investigation by the
233:, speaking as an expert about
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732:"Initial Decision on Default"
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827:Criminals from New York City
787:American hedge fund managers
329:New York State Supreme Court
170:him, and he was banned from
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312:Guilty pleas and sentencing
191:falsifying business records
112:falsifying business records
16:American hedge fund manager
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23:Kim Beom-soo (businessman)
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847:Pyramid and Ponzi schemes
822:Criminals from New Jersey
688:Crain's New York Business
241:Christodora House charges
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832:Dartmouth College alumni
296:In April 2011, Judge
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782:American financiers
664:on October 19, 2014
627:New York Daily News
572:Daily Intelligencer
461:on October 18, 2014
431:on October 16, 2014
362:on October 19, 2014
235:derivatives trading
792:American investors
543:. April 20, 2012.
220:in New York City.
137:Time at large
253:Flight and arrest
247:Christodora House
207:Dartmouth College
172:commodity trading
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259:jumping bail
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195:Ponzi scheme
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86:Incarcerated
77:Ponzi scheme
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694:October 13,
668:October 13,
606:October 13,
577:October 13,
551:October 13,
465:October 13,
435:October 13,
405:October 13,
366:October 13,
298:Denise Cote
156:Bu Yung Kim
56:Bu Yung Kim
746:Categories
335:References
322:Martin Act
290:injunction
283:West Coast
230:Squawk Box
187:Martin Act
160:hedge fund
108:Martin Act
66:hedge fund
61:Occupation
45:New Jersey
400:Bloomberg
152:Brian Kim
141:10 months
32:Brian Kim
545:Archived
218:Broadway
131:Arrested
541:Reuters
512:May 16,
300:of the
189:), and
118:Penalty
110:), and
68:manager
64:former
47:, U.S.
645:2011.
696:2014
670:2014
608:2014
579:2014
553:2014
514:2016
467:2014
437:2014
407:2014
368:2015
356:WDEZ
225:CNBC
38:Born
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