Channel New Asia reported yesterday that Pareto SG Pte Ltd, Pareto International Holdings Limited and Veritas Global Exchange are under investigation by the Commercial Affairs Department of the Singapore Police for involvement in an investment scheme.
The companies are investigated for possible breaches and offences under the Penal Code and the Securities and Futures Act, police said.
In 2019 Pareto SG offered investment opportunities with CFD trading through overseas broker Veritas Global Exchange. The payments were transferred into Pareto International bank accounts.
One director of Pareto International was charged on 15 February for deceiving a person who invested in CFD trading, marketed by Pareto SG. A director of Pareto SG was also arrested in relation to the same investigation.
The police urged other investors who were mislead in the scheme to come forward and file a report.