On the Sakhalin the local authority Gene Kyung Dek, whose nickname is Baron, is trying to turn the scam with the help of the Korean organization SI Resources, his daughter Lee Ok Geum is appointed its general manager.
The SI has bought a port in Uglegorsk and the share of the company "Uglegorskugol" and now presents itself as the largest supplier of coal to the South-East region of Asia. On the official website (www.siresource.co.kr / main / main.php) of the organization are given the impressive figures about the coal mining for the 3 million tons and 18 billion tons of reserves. This greatly attracts the investors, and the price of the company's shares has increased in hundreds of times.
But all this is nothing more than a soap bubble. In fact, the investors' funds allotted for the construction of the port have been spent on the personal needs of Gene Kyung Dek, and the port, according to Rosmorport (www.rosmorport.ru) cannot even take large vessels.
This is not the first machination of the Baron. Kyung organized the scheme to attract the investors in Korea 10 years ago, affirming that he owned two gas fields on the Sakhalin. At the same time the company SI Resources was registered. Afterwards the facts about the gas were not confirmed, and the investors lost all their investment.
If now, after waiting for the SI shares achieve the highest price (and according to the official data, their total price is $ 91 million already), Kyung will sell belonging to him 51% of shares, the company will burst like a soap bubble, and leave the investors with nothing.
But on the Sakhalin the infrastructure of the port has not been created yet, and meanwhile coal mining is reduced there and world prices are steadily falling.