The end of bond embezzlement?


See extract from SEC prosecution of a father and son who embezzled funds from money raised from bonds:

The SEC further alleges that instead of investing bond proceeds as promised in annuities to benefit the tribal corporation and generate sufficient income to repay bondholders, the money wound up in a bank account in Florida belonging to a company controlled by Jason Galanis and his associates.

With blockchain mini-bonds now being recognised in France as legal and the FCA working with HEAL BOND Alliance to issue a mini-bond in the UK using blockchain, now is surely the time to show a complete blockchain based ecosystem where investors have transparency on where their investment money is going. Compliance by design is indeed one of the main promises of blockchain technology.