In the wake of Myanmar’s most widespread and financially devastating ‘Ponzi scheme,’ millions of dollars have been lost, thousands of people defrauded, and a myriad of ministries left pointing fingers. In December 2016, Saxon Capital Limited (SCL) began selling shares to residents of Pyay, Bago, Mawlamyine, and other townships promising an 80 percent return on […]
Ponzi Scheme Takes Millions From Rural Myanmar
August 31, 2017 by Thiha
Filed Under: Latest News Tagged With: Ayeyarwady, Bago, Bago Ministry of Finance, DICA, Directorate of Investment and Company Administration, Dollars, Frontier Myanmar, Global Growth Company Limited, mandalay, Mawlamyine, Ministry of Home Affairs, Ministry of Planning and Finance’s Financial Regulatory Department, Myanmar Times, Ponzi Scheme, public-private partnerships, Pyay, Rural Myanmar, Saxon Capital Limited, SCL, Securities and Exchange Commission of Myanmar, SECM, state-owned companies, Tanintharyi, The Central Bank of Myanmar, Union Ministry of Planning and Finance, Yangon, Yangon Stock Exchange, Yangon
SECM Clamps Down on Financial Scams and Illegal Trading
July 24, 2017 by thiha
THE Securities Exchange Commission of Myanmar (SECM) is clamping down on financial scams and illegal trading by unlisted companies in the country. On July 3, it appealed to the public for more information on I Smart Co, a company with operations in Mawlamine. I Smart Co is reported to be engaged in suspicious trading activities […]
Filed Under: Latest News Tagged With: Amara Investment, Amara Securities, Aung Myint Mo Min Securities, AYA Trust Securities Company, Ayeyarwady, CB Bank Securities, Expert Investment Securities, First Myanmar Investment Co Ltd, FMI, Global Growth Company Limited, Global World Securities, KBZ Stirling Coleman Securities, KTZ Ruby Hill Securities, MAEX, mandalay, MCB, MTSH, Myanmar Agro Exchange Public Ltd, Myanmar Citizens Bank Ltd, Myanmar Securities Exchange Center, Myanmar Thilawa SEZ Holdings Public Ltd, Ng Kwok Fai, Saxon Capital Limited, SCL, SECM, Taninthayi, The Myanmar Times, THE Securities Exchange Commission of Myanmar, U Htay Chun, Union Trust Securities Company, Yangon, Yangon Stock Exchange, YSX
