Six individuals and six firms with offices in Belize in the same building as Cynk Technology Corp., the penny stock whose suspicious stock rise caught the attention of regulators, were charged with orchestrating a $500 million money laundering scheme.
Although the U.S. Department of Justice does not mention Cynk by name in its Tuesday announcement of the charges, Bloomberg News reported on Thursday that it had obtained documents that show some of the defendants in the case owned millions of Cynk shares for clients in shell companies they helped create.
