With reference to clues and the SEC's findings, the three aforesaid individuals, without derivatives fund management license, had jointly managed funds for others for profits from derivatives investment. In so doing, they solicited and invited persons who wanted to invest in derivatives products to deposit money into banking accounts of two securities companies for Sureerat's derivatives trading account.
Such wrongdoing was in violation of Section 16 of the Derivatives Act B.E. 2546 (2003) and liable to punishments under Section 125 of the said Act, namely up to three years' imprisonment or up to 300,000 baht fine or both, and a daily fine of 10,000 baht throughout the period of violation.
The SEC urges anyone who is affected by the damage incurred from making an investment with this group of persons to provide the ECD Police with additional information at 0-2237-1199 for further legal proceedings.
SEC Deputy Secretary-General Vasant Thienhom said: "The SEC urges investors to carefully check whether the persons who solicit investment in securities or derivatives are properly licensed. Nowadays, deceitful tricks are increasing in number and variety. For example, illegal solicitors usually claim that they could offer fixed returns worth more than those generated from normal investment methods, or guarantee principal return. Some lie that they are a legally licensed company or a member of a foreign business network, and thus are not required to obtain a license from the SEC, which is not the case at all."
Investors are strongly advised to check whether solicitors have properly obtained a license from the Ministry of Finance or the SEC at www.sec.or.th under the License Check banner. Suspicious unlicensed securities business operation can be informed for further investigation at the SEC hotline 1207.