Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
MGOM.US
id: 1327
Migom Global (MGOM) Fraud Charges Case
S.D. New York
Court1:24-cv-06600
Case number06 Dec 2019
Class period Start25 Aug 2022
Class period End29 Oct 2024
Lead Plaintiff motion deadline- $MGOM stockholders filed a claim against Migom Global, saying the CEO faked financial statements and diverted funds, leading to criminal charges.
- After the news, $MGOM dropped by over 90% by early 2023.
- Migom Global investors can join this case to be notified about potential recovery.
Case Details:
Migom’s CEO, Thomas Schaetti, is accused of providing fake financial statements. He secretly funneled millions from customer deposits into his own companies.
As a result, the Commonwealth of Dominica has initiated criminal proceedings against Schaetti and shut down the bank.
This led the SEC to suspend trading of Migom’s securities, causing investors to lose $750 million.
As a result, $MGOM, once valued at $100 in 2021, dropped to $10 by early 2023.
Considering all the representations, investors suspect Migom’s CEO faked financial statements and diverted funds, leading to criminal charges, the bank's closure, and $750M in losses.
Case Status
Lead Plaintiff Submission
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
30 August 2024
Filing date
30 August 2024
Lead Plaintiff Deadline
29 October 2024