Securities Exchange Commission probes investment fraud claims

THE Trinidad and Tobago Securities and Exchange Commission (TTSEC) is investigating a company operating in Trinidad and Tobago under the name of GETXL amid allegations of investment fraud.

A release from the SEC said it intends to pursue the matter under Section 165A of the Securities Act. Anyone found liable under the act would be subject to fines up to $10 million and ten years in prison.

“Traditionally, around the last quarter of the year there is a noticeable increase in investment scams being promoted to the public which the TTSEC seeks to counteract with public education initiatives advocating vigilance and by way of investigation into reports received,” the release said.

It added that SEC routinely carries out awareness campaigns via print, radio, television and social media highlighting the fines for people who organise, advertise or participate in prohibited schemes.

If you have a complaint about a possible investment scam it can be made on the SEC website, https://www.ttsec.org.tt/investor-protection/complaint-form, by a letter, anonymously or through the investor protection mobile app available at the Google Play Store or the Apple Store.