Regulatory Alerts2023-10-06
Added · Updated
Second Affidavit of Christina R. Rolle in Reply to the Affidavit of D'Arcy Rahming Sr.
The Securities Commission of The Bahamas rejects the Respondent's claims of solvency and due process, asserting that MDollaz Ltd. is insolvent with a negative working capital of $213,626.31 and approximately $4 million in liabilities. The Commission identifies specific breaches including the use of client funds for operational expenses, governance irregularities regarding director appointments, and unauthorized capital raises. Consequently, the Commission maintains that winding up the Respondent is necessary to protect the investing public and uphold capital market integrity.
Topics
Share