The Securities and Exchange Commission rate (SEC) is screwing up to adequately keep track of firms offering new investment schemes, says Minister for Electronic Economy and Culture, Chaiwut Thanakamanusorn.
The lack of oversight has led to billions of baht in deficits, he said.
“In my opinion, the SEC failed to do its work properly, allowing [fraudulent] companies to be founded, which caused losses of over 10 billion baht, ” Mr Chaiwut told reporters on Sunday.
He said while the ministry is concerned about the get-rich-quick schemes mushrooming across social networking, it does not have the authority to block sites or individual accounts without a request from other agencies, which should be backed by proof.
Put simply, he said, the particular onus is for the SEC to provide the ministry with the evidence before it can work on an individual web site or social media account.
As a result, Mr Chaiwut urged the SEC to carry out its primary task, which he said should include running a thorough background check of an investment company’s credentials and financial position to avoid scams in the future.
In the meantime, the particular ministry will evaluation the Computer Act to empower the ministry to shut down such websites, he or she said.
Meanwhile, Department associated with Special Investigation (DSI) will summon 6 more suspects which they believe are associated with the Forex-3D case later this week.
Acting Bass speaker Lt Thanakrit Jitareerat, secretary to Proper rights Minister, said the DSI will review all evidence on Wednesday, before summoning the six additional suspects to recognize investment scam-related charges about 3–5 days later.
While the DSI did not disclose the details of the six suspects they plan to summon this week, Act Bass speaker Lt Thanakrit stated the suspects’ financial transaction records have tied them to the scheme’s mastermind.
In addition , the particular DSI is about to summon two actors, Khunnarong “Krating” Pratesrat and Kamman “Ball” Klomkaew, for wondering this week. A string of celebrities has been linked to the scams.
Investigators will also review statements provided by victims to see in case any of them ever mentioned the two stars and their expected involvement in the fraud.