He was named as Neil Arthur Robbirt, 54, Director of Global Investments, from Kent, UK, who has been operating in Thailand for 18 years.
Robbirt, who was often quoted in the 'Nation' newspaper had a high percentage of his clients invested in the LM Managed Performance Fund which went bust leaving many clients almost penniless.
Already charged have been brought against Richard Malpass.of Credenda.
On the Global Investments website, which now has Hong Kong as the main photograph on the home page Neil Robbirt says his company is one of the most reputable in the financial services industry.
"Global Investments International Limited are proud to be one of the most reputable and well-established names in the financial services industry, providing Wealth Management services to over 3,000 clients since 1994. With a keen focus on delivering service excellence, we offer financial planning, private banking and investment management solutions to expatriates, high-net-worth individuals, trusts and family offices across the world. “Close personal attention and discretion is guaranteed in the interests of each and every Global client, and we believe we have developed a renowned reputation based on integrity, professionalism and the provision of expert advice," says Neil Robbirt, Chief Executive Officer and founder of Global Investments - "We have a very simple philosophy which we believe is the defining attribute of Global's success and longevity... We have always striven to exceed our client’s expectations."
Here follows the SEC statement:
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.