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SEC files criminal complaint against unlicensed derivatives businesses



Wednesday 14 May 2014 | No. 71 / 2014



Bangkok, May 14, 2014 - The SEC today filed a criminal complaint with the Economic Crime Division of the Royal Thai Police (ECD Police) against {X1} Co., Ltd. and {A} for operating unlicensed derivatives business.

Vasant Thienhom, SEC Deputy Secretary-General, said that "Following suspicious report from investors, the SEC's probe revealed that {X1} Co., Ltd. and {A} held themselves out as gold futures trading agents. They advertised and solicited investing public to open gold futures trading account and make the trading transactions through website www.fortunebullion.com without obtaining license or registration from the SEC, which is a violation of the Derivatives Act B.E. 2546 (2003), Section 16. The said violation is subject to sanctions under Section 125 of an imprisonment up to three years or a fine not exceeding 300,000 baht or both and a further fine not exceeding 10,000 baht for every day during which the violation continues.

The SEC therefore filed a criminal complaint with the ECD Police against {X1} Co., Ltd. and {A}. In this connection, any person suffering damage from investment with the aforesaid persons should contact the ECD Police at 0-2237-1199 for further legal proceedings."

"Scammers usually try to lure investing public with a variety of ways. Mostly found today is soliciting general public to invest in derivatives on gold and crude oil, for instance, with unreal return of investment. The SEC therefore urges those interesting in derivatives investments to deal only with licensed business operators to avoid scams and rip-offs. List of licensees is available at the SEC website (www.sec.or.th) under License Check banner. In case of suspicious unlicensed activities, please report the SEC at 1207 for further investigation," Vasant added.

Previously, on September 2013, {A} was also named in the criminal complaint on the same offense.

Information contained in this news release is as of the aforementioned release date. For those who wish to see current status of the matter,
please go to compliant filed with inquiry officer












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Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 71 / 2014 Wednesday 14 May 2014
SEC files criminal complaint against unlicensed derivatives businesses


Bangkok, May 14, 2014 - The SEC today filed a criminal complaint with the Economic Crime Division of the Royal Thai Police (ECD Police) against {X1} Co., Ltd. and {A} for operating unlicensed derivatives business.

Vasant Thienhom, SEC Deputy Secretary-General, said that "Following suspicious report from investors, the SEC's probe revealed that {X1} Co., Ltd. and {A} held themselves out as gold futures trading agents. They advertised and solicited investing public to open gold futures trading account and make the trading transactions through website www.fortunebullion.com without obtaining license or registration from the SEC, which is a violation of the Derivatives Act B.E. 2546 (2003), Section 16. The said violation is subject to sanctions under Section 125 of an imprisonment up to three years or a fine not exceeding 300,000 baht or both and a further fine not exceeding 10,000 baht for every day during which the violation continues.

The SEC therefore filed a criminal complaint with the ECD Police against {X1} Co., Ltd. and {A}. In this connection, any person suffering damage from investment with the aforesaid persons should contact the ECD Police at 0-2237-1199 for further legal proceedings."

"Scammers usually try to lure investing public with a variety of ways. Mostly found today is soliciting general public to invest in derivatives on gold and crude oil, for instance, with unreal return of investment. The SEC therefore urges those interesting in derivatives investments to deal only with licensed business operators to avoid scams and rip-offs. List of licensees is available at the SEC website (www.sec.or.th) under License Check banner. In case of suspicious unlicensed activities, please report the SEC at 1207 for further investigation," Vasant added.

Previously, on September 2013, {A} was also named in the criminal complaint on the same offense.

Information contained in this news release is as of the aforementioned release date. For those who wish to see current status of the matter,
please go to compliant filed with inquiry officer