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Published April 19th, 2023
Freedom Holdings- Imagine if FTX violated Russian Sanctions
$FRHC auditors recently fined and banned from PCAOB for not doing proper diligence on this obvious scheme.
Forbes 30 under 30 curse goes International.
Freedom Holdings has faced criticism for their questionable business practices, including their IPO model, Potemkin board of directors, and lack of oversight. Despite this, the stock of Freedom Holdings remains at an elevated level due to CEO Timur Turlov’s concentration of ownership and ability to manipulate the price through multiple related party trading arms and hedge funds, similar to what was seen with FTX/Alameda Research.
While there are concerns about Freedom Holding’s declining KPI and valuation compared to established Kazakh-based financial institutions, the most pressing issue is the potential violation of sanctions and related party transactions resembling FTX/Alameda..