WikiFX’s In-depth Report on GCG ASIA(Cambodia - Australia)

Summary: in only 5 months, GCG ASIA swept across numerous SE Asian countries including Malaysia, China, Indonesia and Cambodia duo to false and misleading adverting. Dissatisfied with the current situation, the company tried to enhance its influence in the name of the financial regulators and business giants in Australia, Switzerland etc.. Ironically, this intention was destroyed in this May due to its arrogant behavior under the pressure of Cambodia' s Prime Minister.

What will GCG ASIA be confronted with after its scandal？

GCG ASIA has lost its past glory. The bubbles of GCG ASIA' s “perfect compliance”, “strong partners” and “advanced trading technology” had all burst after its office in Phnom Penh was sealed up by police and the company executive Qiu was arrested.

But even so, GCG ASIA still managed to release a poster with celebrities on it, such as Nicholas Tse, Karen Tong etc., to promote the so-called GCG ASIA' s regional project launch ceremony. later, it was turned out to be just another false propaganda by a clarification of Hong Kong Emperor Entertainment Group Limited(EEG), the company of the celebrities above.

WikiFX sent out the field-survey team to Cambodia as soon as the news broke out, in order to further expose the scandal of GCG ASIA.

Departure lounge of PVG airport

After flying for several hours, WikiFX team arrived in Phnom Penh, excited and eager to unveil the truth about GCG ASIA.

Visa on arrival processing

It was not easy to find GCG ASIA in Phnom Penh, as its office was not officially opened and the address couldn' t be found online, so we sought help from Chinese friend working for local media. We finally got the address : No. 315 Monivong Blvd Phnom Penh, 16th floor of the Canadia Tower .

We immediately set out after getting the address.

On the way to GCG ASIA' s headquarter in Phnom Penh

The tuk tuk drove down the street in Phnom Penh, giving us a special experience of the local low buildings, narrow streets and blue sky with white cloud. We soon arrived at the Canadia Tower, the location of GCG ASIA' s office in Phnom Penh.

The Canadia Tower, a skyscraper, stands out among the surrounding buildings with average height below seven floors, giving people a grand impression. That' s what GCG ASIA has been pursuing and why it headquarters here.

Exterior of Canadia Tower

Canadia Tower

We entered the Canadia Tower and checked the floor directory, but didn' t find GCG ASIA. Then we went to the 16th floor directly as per the address mentioned above.

The floor directory of Canadia Tower

The company directory on the 16th floor

We did find GCG ASIA' s office on the 16th floor, with the door locked. On the door, many announcements posted by the local government department could be seen easily, as well as the logo of GCG ASIA.

GCG ASIA' s headquarter in Phnom Penh

An announcement posted on GCG ASIA' s door

According to the report of local press, the Cambodian announcement with official stamp should be posted by the local government department.

Looking through the glass door, we saw nothing, but the reception with GCG ASIA' s logo.

GCG ASIA' s logo at reception

The empty office of GCG ASIA

We couldn' t help wondering what the empty office looked like before.

Beside the office of GCG ASIA, we found Bank of China (Hong Kong) Phnom Penh branch, only steps away from the office. An statement issued by Bank of China in Chinese, English an Cambodian indicated that Bank of China did not have any business cooperation with GCG ASIA, which proves that BOC has nothing to do with the false promotion of GCG ASIA.

BOC (Hong Kong) Phnom Penh branch' s statement in Chinese

BOC (Hong Kong) Phnom Penh branch' s statement in English and Cambodian

It' s hard to imagine how the unscrupulous broker dared to make false promotion in the name of BOC right next to office. Had it not been Prime Minister Hun Sen' s action to crack down on GCG ASIA, the scam could last longer.

We visited the General Commissariat of National Police on the next day, in hopes of getting more information from government authorities.

Main entrance of the General Commissariat of National Police

Department of Scientific Technical Police

Despite the challenges of language(Cambodian)barrier and restrictions of the police system, we managed to find the police officer in charge of the case of GCG ASIA. After showing our intention and ID card, we had the chance to interview the related officer of national police and got some official information of current GCG ASIA.

But many questions remain pending: How is GCG ASIA right now？ Is the broker truly under ASIC(Australia)' s regulation as it claimed？ How did the GCG ASIA' s promotional scandal start in Malaysia, then moved to China and Indonesia and finally to Cambodia？ After finishing the visit in Phonm Phen, WikiFX team set out again to investigate GCG ASIA' s licensed office in Australia. In addition, WikiFX raked through online information and compiled a comprehensive analysis on the 5 stages of GCG ASIA' s scandal. Stay tuned and we will update the information about GCG ASIA in Australia and publish the in-depth exclusive report in July' s WikiFX Journal.