TriumphFX has acquired a securities fraud warning from the Financial Authority of Singapore (MAS).
MAS is Singapore’s SEC equal.
On August 4th MAS added TriumphFX to its investor alert listing:
MAS classifies TriumphFX as an “unregulated particular person”,
who primarily based on info acquired by MAS, could have been wrongly perceived as being licensed or regulated by MAS.
In different phrases TriumphFX shouldn’t be registered with MAS, that means it’s providing unregistered securities in Singapore.
MAS’ warning is the equal of a securities fraud discover in different jurisdictions.
MAS itemizing TriumphFX is somewhat unusual. Again in 2015 the Hong Kong Securities and Futures Fee issued its personal warning towards TriumphFX.
This result in Leong Koon Wah’s arrest in 2018. Wah’s cost sheet tied him to TriumphFX International (then working as Triumph International).
The end result of Wah’s felony case and present standing are unknown.
If MAS is issuing a securities fraud warning in 2021, I’m assuming Wah isn’t in jail.
Or if he’s, whoever Wah was working with to run TriumphFX remains to be at giant.
BehindMLM reviewed TriumphFX in Could 2017. Along with committing securities fraud, TriumphFX additionally runs a pyramid scheme primarily concentrating on Malaysians.
In July 2021 Indonesia banned TriumphFX for suspected funding fraud.