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SEC files a criminal complaint against Global Consultant for operating unlicensed securities business

Bangkok, February 10, 2016 – The SEC has filed a criminal complaint with the Economic Crime Suppression Division of the Royal Thai Police (ECD Police) against Global Consultant Co., Ltd. and Neil Arthur Robbirt, a British citizen, on account of jointly operating securities business without license.   

The SEC has been informed by foreign investors residing in Thailand that Global Consultant – located at 235/15, Sukhumvit 31, North Klongtan Sub-district, Wattana District, Bangkok –
and Mr. Robbirt solicited them to make investments based on the company’s advice and management in order to gain tax benefits and long-term returns. The foreign investors proceeded accordingly and suffered loss as a result.
Neither Global Consultant nor Mr. Robbirt was licensed to operate securities business pursuant to the Securities and Exchange Act of 1992. Their actions therefore were in violation of Section 90 and liable to penalties under Section 289, which are imprisonment for a term of 2 to 5 years and a fine from 200,000 to 500,000 baht, plus a daily fine of 10,000 baht until the period of violation ends.

In addition, Global Consultant publicly advertised that the company had a team of experienced and expert investment consultants to handle suitable portfolios for investors through different company names such as Global Investments Far East Ltd. and Global Investments International Ltd. via www.globalinvestments.net and www.Qropdirect.com.

The SEC, therefore, filed a criminal complaint against Global Consultant and Mr. Robbirt with the ECD Police for further legal proceedings. Anyone who may have been affected by their unlicensed securities business operation can give additional information to the ECD Police at 0-2237-1199.
Investors are strongly advised to consult the License Check page at www.sec.or.th to verify the status of securities business operators and individuals before using their services or making investment decisions. In case of suspecious unlicensed securities business operation, please call SEC Hotline 1207 for further inspection.