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Unlicensed securities business operator charged by SEC
The Securities and Exchange Commission (SEC) has filed a criminal complaint with the Economic Crime Suppression Division of the Royal Thai Police (ECD) against Mr. Morakot Chaithongkum for operating a securities business without a license.
- The SEC has filed a criminal complaint against Mr. Morakot Chaithongkum for operating a securities business without a license, based on evidence of conducting investment activities without the necessary authorization.
- The SEC warns investors to exercise discretion and only engage with licensed securities business operators to avoid potential risks associated with unlicensed entities.
- The SEC emphasizes its commitment to monitor legal proceedings and collaborate with relevant agencies to support law enforcement under the Securities and Exchange Act following the criminal complaint filing.
Based on information from a whistleblower and the SEC’s investigation, it has been revealed that Morakot has displayed behaviors indicative of conducting securities business as an investment consultant and private fund manager without obtaining the necessary license. In this context, he sought public engagement regarding the value of securities, the suitability of investments, and the management of individuals’ investments to seek benefits from securities.
Morakot conducted activities on social media platforms such as Clubhouse, Line, and Facebook, without obtaining the required license under Section 90 of the Securities and Exchange act B.E. 2535 (1992). This could result in imprisonment for two to five years, a fine ranging from 200,000 baht to 500,000 baht, and an additional fine of up to 10,000 baht for each day of non-compliance.
The SEC strongly urges persons interested in investing in securities to exercise discretion and make investments only with business operators who have obtained a license or approval properly. The SEC lists of licensed and approved persons are available at www.sec.or.th and SEC Check First application. Also, the Investor Alert List of entities operating business outside the scope of supervision of the SEC is available at https://market.sec.or.th/public/idisc/th/InvestorAlert. For inquiries or reports of leads or suspicious acts, please contact SEC Complaint Center at Hotline 1207 or the official SEC Facebook Page or SEC Live Chat at the SEC website for further investigation.
Source : SEC files a criminal complaint with ECD against an unlicensed securities business operator
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