Samtrade FX Singapore 3 Arrested: Online trading platform Samtrade FX under probe: A piece of news is coming into the headlines and receiving much attention from people. So, the news is about the online platform named Samtrade FX which is currently facing an investigation in Singapore. Yes, the platform is facing charges under the suspension of irregular trading activities. The Singapore Police have been investigating the case. This news has been going viral on social media platforms. Several people have reacted to the news and trying to find out the whole matter. There are several users who are using this platform, they want to know the whole matter. Through this article, we are going to give you all the information regarding the matter. Follow More Update On GetIndiaNews.com
Samtrade FX Singapore 3 Arrested
As per the reports, one of the most well-known online trading platforms, Samtrade FX is facing a probe in Singapore after offering unlicensed trading services in the country. It was reported that the investigation on the online trading platform, Samtrade FX has started under the suspension of unregulated business activities. The news was announced by the Monetary Authority of Singapore and Singapore Police Force jointly on Monday.
Samtrade FX Singapore Online trading platform
The authorities of Singapore stated, “There is reason to suspect that irregular trading activities have been carried out on the platform, and investigations are being carried out on these activities.” According to the sources, the investigation by Singapore police against Samtrad FX was commenced on 28 December 2021, whereby 3 men were arrested aged between 31 and 36 years old. However, the officials said that the 3 arrests were made in relation to the investigation but the link with the trading company is still yet to be disclosed.
Online trading platform Samtrade FX Singapore 3 Arrested
The online trading company is being operated by Samtrade FX Limited which is a company registered in St. Vincent and the Grenadines. The company doesn’t have a MAS license which means it is not allowed to offer any type of investment services in the city or state. In Addition, this trading platform Samtrade FX had been added to the Investor Alert List of MAS in July 2021.
The joint investigation is screening the main company Samtrade FX Limited with its two more Singapore organizations including Samtrade FX (SG) Pvt Ltd and Samtrade FX LLP. However, Samtrade FX has not issued any statement regarding the matter. They also didn’t respond to any media people. We are waiting to know the story of the company’s side. But it looks like that the owner doesn’t want to say anything about it yet. The investigating is still ongoing by the Singapore Police and MAS. We will update our readers soon with further details till then stay tuned with us for more updates.
