British CEO of shuttered firm held for allegedly defrauding Thai investors of THB40mil


BANGKOK (The Nation/Asia News Network): Police from the Economic Crime Suppression Division (ECSD) on Thursday (Oct 6) arrested the British chief executive officer of a closed-down company for allegedly defrauding Thai investors of 40 million baht.

Mark Edward Kirkham, 57, was arrested on his arrival at Suvarnabhumi Airport from Singapore.

The Southern Bangkok Criminal Court had issued a warrant for Kirkham’s arrest after a group of Thai investors filed a complaint against him with the Securities and Exchange Commission (SEC), which in turn filed a complaint with the ECSD.

According to the complaint filed by the SEC, Kirkham, who was the CEO of PFS International Consultant Co Ltd, previously known as Barkley Spencer International Co Ltd, invited Thai investors to invest in his firm’s foreign fund with a promise of 7-11 per cent yields.

But the Thai investors could not withdraw their money when the deposits reached their due date, allegedly causing damage of over 40 million baht. The company later shut down.

The SEC said that PFS International Consultant and Kirkham did not seek permission from the SEC to operate a securities firm, so the SEC has accused the two of violating the law.

Kirkham was charged with violating the SEC law for running a securities company without permission. He denied all charges and was handed over to ESCD subdivision 3 for prosecution.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Thailand , arrest , British , CEO , Mark Edward Kirkham

   

Next In Aseanplus News

Indonesian parliament passes legislation to outlaw extra-marital sex
Doctor charged over patient’s death after Botox treatment faces more charges
Indonesia parliament ratifies criminal code that bans sex outside marriage
Improving public transport among three areas of focus for Transport Ministry, says Loke
Australia central bank raises rates to 10-yr high, says more needed
Role of Finance Ministry's advisers to be determined after consultation, says PM
King witnesses historic signing of PETRONAS, ADNOC deal to explore unconventional Abu Dhabi onshore block
Asian markets swing as Fed worries offset China Covid easing
Fuel runs short at South Korean petrol stations as union plans general strike alongside truckers
Seven injured in Songkhla blast while salvaging train derailed by earlier bombing

Others Also Read