The information provided by Zipmex Thailand under the former CEO regarding assets in user Z Wallets was inconsistent with the Thai SEC’s investigation.
Thailand’s Securities and Exchange Commission (SEC) has charged former Zipmex CEO Akalarp Yimwilai with fraud for misleading customers with information related to the use of their digital assets.
In a Feb. 8 statement, the Thai SEC said during his time as CEO of Zipmex Thailand, Akalarp presented false statements regarding assets in user Z Wallets being transferred to crypto wallets abroad. According to the SEC, this discrepancy with Zipmex’s terms and conditions amounted to “corruption and deception” by concealing information from customers.
The regulator referred a complaint on Akalarp’s alleged actions to Thailand’s Office of the Provincial Crime Suppression Division for possible legal action. Zipmex Thailand was implicated for similar allegations of fraud over reports of customer assets inconsistent with the SEC’s investigation.
