00:00The Trinidad and Tobago Securities Exchange Commission, or TSEC, confirmed in a media release late last night that Trillian Systems Limited was under active investigation following a two-month-long investigation by this investigative journalist that was published in the Sunday Express and aired approximately three weeks ago on CCN TV6.
00:19Hundreds of investors had complained that for more than a year they had invested in crypto and forex currency investments offered by Trillian Systems Limited and its director James Caron Rose and had not seen any returns.
00:33At least 3,000 persons were part of this investment pool.
00:36TSEC, in its media release and in a story in today's Express by business editor Joel Julian, said they were investigating Trillians who was operating without the required registration and or exemption under security laws.
00:49In their release, TSEC told the public that Trillians Systems Limited was not registered with TSEC in any capacity and investigations had started into this area.
01:00TSEC outlined its role to protect investors on the local capital market, stating, open quote,
01:05Our mission is instilling confidence in the securities market by protecting investors, promoting sustainable growth and reducing systematic risk through collaboration and innovation, close quote.
01:17They warned investors who would buy Trillian Systems Limited to verify registration status through the TSEC's official website.
01:25They also warned all potential investors that investing with unregistered entities carried significant risk, including the loss of capital.
01:34They advised the public to report any tips, scams or suspicious unregistered investment offerings to market complaints at tsec.org.tt.
01:44During the CCN investigation, people from all walks of life bought into this lucrative scheme from doctors to lawyers and affluent business personnel.
01:53More than 150 investors who spoke to CCN during this investigation on and off the record reported that persons had invested between $10,000 to as much as $14 million in one instance.
02:05Rose had promised 10% weekly returns on their crypto investments and later told investors he would be starting a mystery pool where investors could get up to three times the amount they invested.
02:16He kept shifting the dates for payouts on that premise and earlier this year had promised returns of up to 10 times their investment.
02:23That date was also shifted several times and up to the end of July, no one has received any tangible confirmation of a payout.
02:32As Rose continued to tell everyone on social media to wait and see after we visited the Chagona's office a fourth night ago.
02:39CCN sent text messages earlier today to Rose asking if he had any comment about TSEC's investigation into him and his company, but he did not respond.
02:49Marc Basant, TV6 News.
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