The Securities and Exchange Commission accuses Morakot Chaithongkam at the Office of the Environmental Protection and Crime Control Division of engaging in securities business. 'Investment consulting – private fund management' without a license
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The SEC received information from a whistleblower. Subsequently, additional evidence was examined and it was found that Mr. Morakot Chithongkam was accustomed to running securities business in the type of investment advisory. and managing private funds without a license by providing advice to the public regarding the value of securities or the suitability of investments related to securities.
And managing individuals' money to make a profit from securities. This is done through online communication channels, including the Clubhouse app, LINE and Facebook groups involving many individuals from the general public. This is done in the normal course of business and receives a fee or other compensation.
The actions of the above-mentioned person shall be deemed to conduct a securities business without authorization pursuant to Section 90, which is punishable under Section 289 of the Securities and Exchange Act BE 2535 (Securities Act) and punishable by imprisonment for a period of two to five years. The fine is from two hundred thousand to five hundred thousand pounds, and a fine not exceeding ten thousand pounds per day throughout the period of continued violation. The Securities and Exchange Commission submitted a complaint against the aforementioned person to the Office of the Environmental Protection and Crime Suppression Department.
However, those who have received harm from such actions please report additional information to the Regional Crime Suppression Division Office at telephone number 02-191-9191 extension 4000 for further investigation and prosecution.
Incidentally, the SEC charge is just the beginning of the criminal enforcement process. Under this process determining whether someone has broken the law is a step within the investigative authority of the investigating officer. Prosecution of the Attorney General's case in addition to the discretion of the Court of Chancery respectively, and the SEC will continue to monitor the progress of the case. It will fully cooperate with relevant agencies to support law enforcement in accordance with the Securities Law in this process after the SEC brought charges.
The SEC would like to remind those interested in investing in securities should consider them carefully. And invest only with business operators who are properly licensed to do business. You can check the list of licensed business operators at www.sec.or.th or the “SEC Check First” app.
You can check the names of people who are not business operators under the supervision of the SEC at the Investor Alert link. https://market.sec.or.th/public/idisc/th/InvestorAlert However, if you have any evidence about suspicious operations, please report it to the Complaints and Whistleblowers Center at 1207 or via the SEC Office Facebook page or the SEC Live Chat on the SEC website for further investigation. .
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