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Unlicensed forex traders hauled in for questioning

Investigations are under way on several “Lay Patkar” traders, or unlicensed speculators dabbling in illegal trading of foreign exchange, a senior official from Yangon Police Force told The Myanmar Times. After the dollar-to-kyat exchange rate hit a high of K1,642 in the local market on September 20, four dollar traders from Shwe Bon Thar Street […]

Anti-Drug Squad, BSI cooperating on Malaysia seizure of drugs worth $18 m

Anti-Drug Squad is cooperating with Bureau of Special Investigation (BSI) in investigation into the case in which narcotic drugs worth US$18 million were seized from a container that went from Yangon to Malaysia, said a BSI official. Both are hot on the trail of how the drugs were secretly loaded into the container and the […]

Myanmar’s Planning and Finance Minister Submits Resignation

NAYPYITAW — Planning and Finance Minister U Kyaw Win has submitted his resignation to the president amid reports that he is being investigated by the Anti-Corruption Commission and the Bureau of Special Investigation (BSI), sources close to the matter told The Irrawaddy. Since last week, news reports have circulated alleging that the minister and his […]

Charges loom for directors of futures trading firm

Police are on the trail of the senior officials of an online futures exchange brokerage accused of cheating its clients. According to some estimates, the company, known as Global Growth or Golden Global, may have defrauded its clients of nearly US$1.5 million. Though allegations of cheating have been widespread for some weeks, at this point […]