Unlicensed Financial Advisers Defy Thai Regulator After Being Placed on Investor Alert List

In July 2014, Professional Portfolio International was placed on the Thai SEC’s investor alert list after the company was caught selling dodgy, high commission insurance policies and investment funds without a license. Eight months later, PPi appears to be at it again.

PPi Logo (2)

PPi’s website (ppi-advisory.com) remained inactive after it was placed on the SEC’s alert list. However, a few weeks ago, PPi advertised an event at the following venue in Bangkok:

PPI Events March 10

Recklessly, PPi afterwards posted photos of the event on its website, giving the SEC sufficient evidence to take PPi to task for repeated lawbreaking. Two of the photos show PPi’s advisers giving a PowerPoint presentation on “Investing in Managed Futures”.

An angry ex-client has forwarded the above information to the Thai SEC. One of PPi’s advisers, Gary Bradford, advised the ex-client to invest—through a QROPS and a portfolio bond—in the LM Managed Performance Fund, an unregulated fund which paid abnormally large commissions and is now known to have been a Ponzi scheme.

Gary Bradford is visible in the audience in photos 3 and 6 above.

The ex-client claims that Bradford “fraudulently used pretend qualifications from the Chartered Institute for Securities & Investments (CISI, UK)”.

After the ex-client filed complaints with CISI, CISI confirmed that Bradford was not a member and asked him to remove the credential from his LinkedIn profile and business cards. Bradford has not yet removed the credential from his LinkedIn profile.

Gary Bradford LinkedIn Profile

The ex-client has not recovered any money yet, but would be pleased to at least see PPi’s advisers behind bars.

According to an article in the South China Morning Post, the penalty for selling investment products in Thailand without a license is “between two and five years’ imprisonment and a fine of 200,000 baht (HK$48,650) to 500,000 baht”.

Gary Bradford’s photo has been removed from the “Our Team” section of PPi’s website, though he apparently continues to be part of the team. Eric Jordan and Roger Parry are currently listed as senior figures at PPi:

PPI - Eric Jordan & Roger ParryPPi’s website claims that it has an office at the address below. If true, the SEC would do well to pay a visit.

PPI Address

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