SEC accuses 2 offenders to the Technology Crime Suppression Division

The SEC has charged two offenders with the Technology Crime Suppression Division (TCSD) for buying or selling securities and futures contracts before making a trade transaction of a fund, using the investment information of the fund, and reporting the action to the Anti-Money Laundering Office (AMLO). The Securities and Exchange Commission (SEC) received information from the Stock Exchange of Thailand (SET) in 2023 and further investigation found facts and evidence leading to belief that the two offenders, namely (1) Mr. Komen and (2) Ms. Monsicha, had colluded to act for themselves or others in a manner likely to cause the mutual fund to lose out. Mr. Komen, in his capacity as fund manager (at the time of the offense, was a member of MFC Asset Management Public Company Limited), a person who knew or was in possession of information regarding the securities trading of the fund he was managing, disclosed information regarding the orders of the mutual fund that Mr. Komen was the fund manager to Ms. Monsicha, and Ms. Monsicha sent orders to buy or sell securities and futures contracts. Before Mr. Komen sent a purchase or sale order to the fund's securities trading account in many cases during 2022, which is considered a violation of Section 244/2, in conjunction with Section 244/1 and Section 315 of the Securities and Exchange Act B.E. 2535 (Securities Act), as the case may be, the SEC therefore filed charges against both individuals with the Economic Crime Suppression Division (ECD) for consideration of further legal action. At the same time, the SEC has reported the said action to the Anti-Money Laundering Office (AMLO) for further consideration, as the said offense is an unfair act regarding the trading of securities and futures contracts, which is a basic offense under the Anti-Money Laundering Act B.E. 2542 and its amendments. After the SEC's indictment, the criminal law enforcement process will consist of an investigation by the investigator, an indictment by the public prosecutor, and a consideration by t he court of justice, respectively. The SEC will monitor the progress of the prosecution and will cooperate fully with relevant agencies to support the enforcement of the law under the Securities Act in the process after the SEC has indicted. Source: Thai News Agency