Regulators warn investors of an unlicensed trading operation using a fake brokerage name and mobile app, urging the public to stay alert as criminal investigations intensify.
Sri Lanka’s Securities and Exchange Commission has issued a strong public warning against an entity operating under the name Blue Ocean Securities Ltd. and its associated mobile application, BOMate, cautioning investors not to use the platform for trading or investing in the Colombo Stock Exchange.
According to the Securities and Exchange Commission, the entity in question has not obtained the mandatory license required to function as a stock market intermediary in Sri Lanka. As such, any investment activity conducted through this platform is considered unauthorized and potentially fraudulent.
The regulator has also confirmed that two individuals linked to the operation are not licensed or recognized by the Securities and Exchange Commission. Rohan Dias, who presents himself as the Chief Analyst, and Natasha Perera, who claims to act as his assistant, do not hold approval to engage in securities related activities. Investigations have further revealed that at least two other individuals are allegedly using these same names, raising concerns about identity misuse and impersonation.
In response to these developments, the Securities and Exchange Commission has formally lodged a complaint with the Criminal Investigation Department regarding the activities of the unauthorized entity. Separately, the Colombo Stock Exchange has also filed its own complaint with the Criminal Investigation Department, underscoring the seriousness of the matter.
The Criminal Investigation Department has already launched investigations, with authorities receiving full cooperation from the Securities and Exchange Commission. Investigators have been provided with bank account details and multiple public complaints linked to the suspected operation.
The Securities and Exchange Commission has once again urged the public not to deposit funds into any bank accounts promoted by this entity or its representatives. Investors are advised to exercise extreme caution, verify licensing status, and rely only on approved stockbrokers when engaging in investment activities.
