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The Real Story Behind LLEN Investigation mIght Help Explaining Some Of The Company's Moves (I.e. The Ironrige Deal)

Apr. 02, 2014 3:00 PM ETLLEN7 Comments
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From the supplemental briefing in support of the motion too detain the defendant, Dickson Lee, pending Trial:

"... In April 2013, after the deposition, the United States Attorney's Office formally informed Dickson Lee's counsel that Lee and the company were targets of a criminal investigation ... "

Hopefully, now ... all the Defrauded U.S. Investors might have an answer to the Ironridge Deal (Deal explained in this Geoinvesting Article:seekingalpha.com/article/1723842-l-and-l...).

On July 2, 2013, Ironridge Global IV, Ltd filed a lawsuit in the Los Angeles Superior Court against LLEN seeking to collect debts Ironridge purchased from LLEN's creditors.

On August 4, 2013, Dickson Lee sold $800,000 of debt LLEN owed him to Ironridge. Dickson joined two other creditors who had assigned their debts to Ironridge to collect in Court."

Well, knowing he (Lee) and LLEN were target of a Criminal Investigation ... I imagine Lee entered into this deal to get his $800,000 back ... and send them ... over to Taiwan.

Since Dickson Lee was informed of the Criminal Investigation, Lee started to transfer all his assets to various Asian Countries (leaving his U.S. bank account balance to about $300).

Case 2:14-cr-00024-RAJ / Document 9 :

"In addition to his personal ties, Lee has transferred substantial financial assets to Taiwan and China, providing him with the means and further incentive to flee and never return. The government has obtained and reviewed banking information for Lee's main personal bank account held at East West Bank for the year 2013. The government's analysis revealed that throughout 2013, Lee transferred more than $200,000 to various accounts located in Taiwan, Hong Kong, and China so that by December 2013, the account's balance was left at less than $300. Due to the sensitive nature of the banking documents, relevant excerpts will be provided to the Court for review at the time of hearing."

I ADVISE ALL LEEN Defrauded Investors to have a look at the "supplemental briefing in support of the motion too detain the defendant, Dickson Lee, pending Trial" :


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