Bangkok, 18 August 2020 – SEC has filed a criminal complaint against Mr. Artit Suntawanic with the Economic Crime Suppression Division (ECSD) for operating securities and derivatives businesses without license.
SEC has received a tip from an investor that a Facebook account named “Japhoon” (meaning Catching Stocks) may operate business without obtaining a license from SEC. After further investigation of evidence, SEC has found that Artit gave investment advice and solicited the general public to invest in securities and derivatives. In so doing, he used the Japhoon Facebook account as an advertising channel for learning courses on securities and derivatives investment and also used a Line group as a channel for recommending which securities and derivatives to invest. He received a payment in return from such action.
Athit’s acts are liable to operating securities business without license in contravention of Section 90, which is subject to the penalties under Section 289 of the Securities and Exchange Act B.E. 2535 (1992), namely an imprisonment for a term of two to five years and a fine from 200,000 baht to 500,000 baht and a further daily fine not exceeding 10,000 baht while the contravention continues. In addition, his acts are also liable to operating derivatives business without license in contravention of Section 16, which is subject to the penalties under Section 125 of the Derivatives Act B.E. 2546 (2003), namely an imprisonment for a term not exceeding three years or a fine not exceeding 300,000 baht, or both, and a further daily fine not exceeding 10,000 baht while the contravention continues.
SEC has therefore filed a criminal complaint against Artit with ECSD. Any person suffering damage from his acts should call ECSD at 0-2237-1199 to give information for pursuing further investigation and legal proceedings.
In any case, filing a criminal complaint commences the criminal justice administration process whereby the consideration of whether any person is guilty is under the inquiry official’s investigation, the public attorney’s prosecution, and the court’s jurisdiction, respectively.
SEC strongly advises persons who are interested in securities and derivatives investment and solicited to invest via Line application or any other social media platforms to be cautious and make investments only with properly licensed intermediaries. Investors can check the list of licensed or registered business operators at www.sec.or.th and via SEC Check First application. For inquiries or tips for further investigation, please call the SEC Help Center 24-hour Hotline at 1207 or send an email to complain@sec.or.th.
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