Ripple Partner HSBC Indicted for Naked Shorting in South Korea

Criminal charges have been brought against HSBC, one of the leading world investment banks, together with three of its traders by South Korean prosecutors. This represents a major development as HSBC, an associate of Ripple through its partnership with tech firm Metaco, is accused of illegal naked short selling, and the allegations amount to 15.8 billion won (around $12 million).