By Thai Newsroom and TV Channel 7
FORMER finance minister and deputy Democrat leader Korn Chatikavanij urged the Securities and Exchange Commission (SEC) to issue an immediate warning against buying shares of listed companies linked to money-laundering scam gangs amid the current rush to sell them before a general election on Feb. 8.
In a Facebook post Korn said these shares have not yet been frozen because they are secretly held in nominee accounts.
“I’ve said many times that for foreign criminals to launder money in the Thai economy, they need cooperation of Thais – the SEC must take serious action against everyone.”
This is an urgent matter for the SEC and the Stock Exchange of Thailand to address by issuing a warning that purchasing shares in seven companies currently being invested by SEC is risky and could result in buying stolen goods.
This would help scammers evade responsibility, especially big lot purchases, he said.
SEC must emphasise that purchasing shares from money-laundering gangs could be interpreted as complicity with criminals, risking legal action.
Combating transnational criminal gangs requires speed, decisiveness, and proactiveness because they have strong motivation therefore the authorities cannot afford to be slow, Korn added.
CAPTION:
Former finance minister and deputy Democrat leader Korn Chatikavanij. Above photo – Thai Rath, Front Page photo – Naewna
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