A 39-year-old suspect, identified as Sirisak, has been arrested in Bangkok for his alleged role in a nearly Bt90 million stock fraud scheme that defrauded investors with false claims of privileged investment access and discounted IPO shares.
The arrest was carried out on March 23 by the Crime Suppression Division in Soi Inthamara 45, Din Daeng district, under the orders of Pol Maj Col Pattanasak Bubphasuwan. Sirisak was wanted under an arrest warrant issued on March 13, 2018, by the Bangkok South Criminal Court. He faces charges including joint theft, importing false information into a computer system to cause damage, and misconduct as an officer under the Securities and Exchange Act.
Investigators say the scheme, active between 2013 and 2016, involved Sirisak, former investment adviser Jasmine, and two other accomplices. They allegedly impersonated clients, claiming ownership of funds that belonged to other investors and then withdrew those funds using false confirmations sent via email and money transfer apps. Total losses are estimated at nearly Bt90 million.
Jasmine was arrested and prosecuted in early 2018, while Sirisak remained at large for over eight years before being tracked down. During questioning, he admitted his identity but denied all charges and was handed over to Sub-Division 1 of the CSD for legal proceedings.
Authorities cautioned the public to be wary of investment offers promising “special portfolios for premium clients” or “below-market IPO shares,” and warned against transferring money to personal accounts of advisers, noting such practices facilitate fraud.
