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Banks, brokerages incurred over $350 million in losses from penny stock crash

2013 Penny Stock Crash

Banks, brokerages incurred over $350 million in losses from penny stock crash

Chan Chao Peh Published on Wed, Mar 20, 2019 / 6:03 PM GMT+8

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SINGAPORE (Mar 20): Banks, brokerages and other financial institutions suffered a total of more than $350 million in unpaid losses in the wake of the October 2013 crash of Blumont Group, LionGold Corp and Asiasons Capital (now known as Attilan Group), according to prosecutors.

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