Thai regulator charges former CEO of Zipmex Thailand with fraud, etc. | CoinDesk JAPAN

• Thailand's Securities and Exchange Commission has filed charges against former Zipmex Thailand CEO Akalup Imwirai.
• The Securities and Exchange Commission said the exchange deceived customers and provided false information.

Thailand's Securities and Exchange Commission (SEC) on February 8 charged Zipmex Thailand's former CEO Akarlap Yimwilai with corruption and fraud.

The SEC discovered that customer assets stored in the cryptocurrency exchange's wallets were transferred to wallets overseas before the announcement regarding changes to trading terms was made. This did not match the information provided by Zipmex Thailand, the regulator said.

“Therefore, it is believed that Zipmex Thailand made false statements and committed fraud,” the SEC said. According to his LinkedIn profile, Imwirai served as CEO of Zipmex Thailand from August 2018 to November 2023.

Zipmex Thailand is a division of Singapore's Zipmex, headed by Marcus Lim, and received operational approval from Thailand's Ministry of Finance and SEC in 2020. Last week, the SEC ordered the exchange to suspend crypto trading and brokerage services, and it was announced that the exchange's website and mobile app were no longer available.

The SEC also said the report filed by Zipmex Thailand contradicted information it could confirm.

The SEC has filed a complaint against Mr. Imwilay with the state's Crime Stoppers Division for consideration of further legal action. The SEC says it is up to law enforcement agencies to determine whether someone has violated the law.

CoinDesk contacted Zipmex Thailand via email and Imwirai via his LinkedIn profile. There was no response to either question by the time of writing.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Zipmex Thailand CEO Akalup Imwirai (left) and Zipmex CEO Marcus Lim. Photographed in 2020. (Zipmex)
｜Original text: Thai SEC Files Charges Against Former Zipmex Thailand CEO