Thursday, September 25, 2008

Thai SEC raids illegal trading firm

Futures firm raided

The Securities and Exchange Commission yesterday filed a criminal complaint against Glory Bullion (Thailand) Co for illegally offering to trade oil, gold and foreign-exchange futures contracts without a licence. SEC and police investigators raided the company's offices at Thai CC Tower on Wednesday and seized evidence suggesting it had solicited investors to transact forward contracts as a branch of a Hong Kong broker.

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