Trustee says $85 million of customer savings is missing

Jelena McWilliams, chair of the Federal Deposit Insurance Corporation (FDIC), during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Aug. 3, 2021. Al Drago | Bloomberg | Getty Images There is an $85 million shortfall between what partner banks of fintech middleman Synapse are holding and what depositors…

O.K. Lim and children declared bankrupt, Money News

Hin Leong’s founder Lim Oon Kuin and his two children were declared bankrupt last week, the electronic government gazette published on Friday (Dec 27) showed. Better known in the oil trading industry as OK Lim, the 82-year-old, his 57-year-old daughter Lim Huey Ching and 54-year-old son Lim Chee Meng will have their bankruptcy estates managed by…