The SEC has reported that the case of accusing the former directors and CEO of Zipmex of fraud is currently under the law enforcement process by the investigation officers, confident that there is sufficient evidence to prosecute. As the Securities and Exchange Commission (SEC) has accused Mr. Ekalarp Yimwilai, former director and CEO, who is responsible for the operation of Zipmex Co., Ltd. or 'Zipmex Thailand', to the Economic Crime Suppression Division (ECD) in the case of fraud by presenting false information to the public or concealing the truth that should have been disclosed to the public, and by such fraud, assets were obtained from the public, including committing or consenting to the posting of false information or failure to post important information in the accounts or documents of Zipmex Thailand to deceive any person, which is an act that is considered an offense under Section 82 and Section 88 of the Digital Asset Act on 8 February 2024*. The SEC would like to inform that the case is currentl y under the law enforcement process at the investigation level, which is confident that there is sufficient evidence. In the case that appeared in the news, the Criminal Court has ruled to dismiss the case in which a victim sued Zipmex Thailand and Mr. Ekalarp for jointly embezzlement and fraud and entering false information into the computer system. The SEC will follow up on the verdict to study the details for consideration and coordinate with the investigators. In the past, the SEC has taken legal action against Zipmex Thailand and Mr. Ekalarp as follows: August 31, 2022, Zipmex Thailand was fined for suspending digital asset trading services and suspending asset deposit and withdrawal services. On September 7, 2022, the SEC filed a complaint against Zipmex Thailand and Mr. Ekalarp with the Technology Crime Suppression Division, Royal Thai Police (TCSD) for failing to comply with the orders of officials under the Digital Asset Act. On December 21, 2022, Zipmex Thailand was fined for disclosing informa tion necessary for making a decision to use the service that did not comply with the specified criteria, and Mr. Ekalap for ordering/acting to have the company suspend digital asset trading services and suspend asset deposit/withdrawal services. April 24, 2023, Zipmex Thailand and Mr. Ekalap were fined for not keeping assets in accordance with the criteria, not disclosing complete information, and conducting other businesses without permission. On May 28, 2024, the Minister of Finance, upon the recommendation of the SEC Board, ordered the revocation of the digital asset business license of Zipmex Thailand due to its financial status that may cause damage to customers and the management structure and personnel that are not appropriate and sufficient to enable the business to operate efficiently and responsibly in accordance with the criteria, methods and conditions as ordered by the SEC Board. Zipmex Thailand still has the status of a limited company with rights, duties and liabilities, and may be sued under the law. Source: Thai News Agency