The Securities and Exchange Commission of Thailand (SEC) has filed charges against the former CEO of the Thai branch of Zipmex. The regulator claims that Akarlap Yimvilai is involved in corrupt practices and deception of investors. He served as CEO from August 2018 to November 2023. This is reported in the SEC statement.

According to the commission, Zipmex participated in fraud by providing false information about client assets. Users' funds, according to them, were placed on the exchange's wallet — Z Wallet, however, before the official freezing of asset withdrawal, all money was transferred to foreign accounts.

SEC representatives claim that the reports submitted by Zipmex do not correspond to the data obtained during the investigation. In this regard, the commission has submitted an official appeal to the special unit for combating crime and calls on law enforcement agencies to take further measures against Zipmex.

Last week, the commission also ordered the exchange to suspend cryptocurrency trading and brokerage services. Zimpex, in turn, offered compensation in the amount of $ 0.3 per dollar to investors, but they did not agree with this decision.