A lot has been said but nothing seems to be done concretely to regulate, contain or stop the proliferating investment scams in the region.
The Securities and Exchange Commission (SEC) has made it clear the investment schemes that are sweeping the region are illegal, them being unauthorised to sell securities that are unregistered with the SEC.
Other than the advisory it released and the revocation of permit, not one of those behind the Ponzi-like investment scheme have been slapped with charges so far. The hot-selling scheme continues to lure people from all walks of life and it looks like it won’t stop unless there is someone from the operators is charged in court.
At this point, there is a need for a concerted effort from the various agencies of government from law enforcement to regulatory bodies to act as one, perhaps a multi-agency task force, in order to come up with more concrete legal action to address the situation.
From the looks of it, there could be some big fish behind these investment schemes and it now lies upon the government’s political will to truly enforce the law.
Otherwise, if it plans to let these schemes continue, then at least legalize the same with strict regulations.
