SECC targets investor scams
The Securities and Exchange Commission of Cambodia (SECC) is investigating a rise in fraudulent get-rich-quick schemes that prey on Cambodian investors, the market watchdog said yesterday. Unlicensed investment schemes operating inside Cambodia will go under the SECC’s microscope, while multilevel marketing firms that appeal to vulnerable investors with promises of huge profits for little investment will also be scrutinised. … “If we have not allowed any company to operate (in Cambodia) and there are some doing this secretly, the consequences of this can destroy the confidence of the public on the (capital) market,” Seang Thirith, director of the SECC’s legal affairs department, said yesterday. In a statement on their website, the regulator calls on consumers to be wary of investing in such companies. …
Kimsay Hor and Daniel de Carteret
http://www.phnompenhpost.com/business/secc-targets-investor-scams
