SEC tells buyers beware

SEC tells buyers beware

The Securities and Exchange Commission (SEC) has warned investors to avoid investing in securities products via two websites and social media accounts as they are not authorised securities and futures dealers.

The two websites are identified as investglobalmanagement.com and iqoption.com, while the Facebook accounts are named Pimnara Poonsawat and Befaii Suwinya.

After receiving information from both local and expat investors, the SEC has examined and found messages on investglobalmanagement.com and Invest Global Facebook account that persuade expat investors to use a platform for investing in securities such as stocks, mutual funds and equity-linked notes.

An annual investment advisory fee is applied for investors, said the SEC.

The site iqoption.com was found to be a foreign entity with no contact address in Thailand. The website encourages investors to trade foreign futures contracts by referencing various investment assets, such as gold, oil and stock indices, speculating on price differences without actual asset delivery.

Translation to Thai and other languages are available on the website, said the SEC.

Meanwhile, the two Facebook accounts persuaded the public to give money to Pimnara Poonsawat for equity trading and share investment profits.

"The two websites and two Facebook accounts are not authorised securities and futures operators. Investors should be cautious when using them as they are not supervised by the SEC," said the regulator.


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