Trinidad and To­ba­go Se­cu­ri­ties and Ex­change Com­mis­sion has be­gun a probe in­to GET­GXL.

In a news re­lease yes­ter­day, the Com­mis­sion said it has tak­en "note of com­plaints cir­cu­lat­ing on so­cial me­dia as it per­tains to the en­ti­ty known as GET­GXL. The TTSEC is al­so in re­ceipt of in­for­ma­tion that was sub­mit­ted anony­mous­ly, and which is cur­rent­ly en­gag­ing our at­ten­tion. "

Ac­cord­ing to the Com­mis­sion, "Mem­bers of the pub­lic who have fall­en vic­tim to any form of pro­hib­it­ed schemes such as Pyra­mid or Ponzi-type in­vest­ment scams are en­cour­aged to sub­mit a re­port to the TTSEC via our in­vestor pro­tec­tion mo­bile ap­pli­ca­tion."

The re­lease added, "The TTSEC in­tends to pur­sue this mat­ter pur­suant to its pow­ers un­der Sec­tion 165A of the Se­cu­ri­ties Act Chap­ter 83:02. Per­sons found li­able would be sub­ject­ed to the fines and penaltieswhich range from $10 mil­lion and ten years in prison for the op­er­a­tor of a pro­hib­it­ed scheme; $5 mil­lion and five years in prison for per­sons par­tic­i­pat­ing in such schemes and $2 mil­lion and three years in prison for those found li­able for ad­ver­tis­ing in­vest­ments scams."

The TTSEC said there is typ­i­cal­ly a no­tice­able in­crease in in­vest­ment scams be­ing pro­mot­ed to the pub­lic dur­ing the last quar­ter of the year.

The TTSEC said it seeks to coun­ter­act these schemes with pub­lic ed­u­ca­tion ini­tia­tives ad­vo­cat­ing vig­i­lance and by way of in­ves­ti­ga­tion in­to re­ports re­ceived.

The re­lease said, "In keep­ing with our pub­lic ed­u­ca­tion man­date, the TTSEC rou­tine­ly con­ducts in­vestor ed­u­ca­tion aware­ness cam­paigns through­out the year and more re­cent­ly (No­vem­ber-De­cem­ber) ex­e­cut­ed a na­tion­al fraud aware­ness cam­paign via ra­dio, print, tele­vi­sion and so­cial me­dia high­light­ing the penal­ties and fines that can be im­posed on per­sons who or­gan­ise, ad­ver­tise or par­tic­i­pate in pro­hib­it­ed schemes."

The TTSEC said com­plaints about an in­vest­ment scam can be made on its web­site at https://www.ttsec.org.tt/in­vestor-pro­tec­tion/com­plaint-form/; by way of a writ­ten com­plaint or sub­mit­ted via di­rect mail; walk-in or anony­mous­ly via the TTSEC's in­vestor pro­tec­tion mo­bile ap­pli­ca­tion.