Request the Director-General of DSI to punish the fund and send it to prison like Wanrat. Base of wasting salaried LTF money on STARK stocks.

Bangkok, Salarymen investing through LTF can't stand it, submitting a letter to DSI to accept the case of funds wasting money on STARK stocks as a special case after complaining to the SEC after half a year of silence. Lamented about the fund buying shares of the mountain peak problem. But when selling the grass at a huge loss of 3,500 million baht, the fund price was the most negative than anyone else's. Resulting in a lack of confidence People are frightened and do not dare to buy tax-saving investment units. as well as asking the SEC Please cooperate. At 9:30 a.m. Today (February 13) at the Department of Special Investigation (DSI), a group of investment unitholders who were damaged by investing in a fund that invested in STARK stocks. He met and filed a complaint against Police Lieutenant Colonel Yutthana Praedam, Acting Director-General of the DSI Department. Consider this case as a special case. and prosecute funds, executives, and fund managers for wrongdoing Securities and Exchange Act Section 124/1 and Criminal Law Section 343 for fraud and Section 353 for embezzlement. There is a penalty of both imprisonment and fine. Police Lieutenant Colonel Yutthana Praedam, Director-General of the DSI Department, said after receiving a complaint letter from a representative of a victim group that the DSI was not complacent in the STARK case, having received the matter as a special case. Continue to seriously prosecute Most recently, yesterday, a lawsuit was filed and Mr. Wonnarat Tangkarawakun, the owner and major shareholder, was detained in prison pending trial. As for the case where a group of victims from the fund comes to file a complaint as a special case, initially DSI will accept the complaint letter. and began investigating whether the said fund had fraudulent behavior, embezzled assets, received change, traded shares dishonestly and caused damage to the people who hold investment units. Is it considered illegal? If it falls into the criteria, they will be ready to receive it as a special case. As for the fact that the accused was also complained of violating the Securities and Exchange Act, and the injured group had previously filed a complaint with the SEC. DSI will probably continue to coordinate with the SEC. As it is the authority responsible for directly enforcing the law, DSI is ready to provide justice in cases where the SEC will coordinate with the Securities Act. Mr. Sittha (surname withheld), one of the victims' representatives, submitted a complaint letter to the Director-General of DSI, specifying details in the letter that Tens of thousands of victims who invested through a tax-saving fund (LTF) of a mutual fund management company. Because I believe that The country's giant financial institutions are the major shareholders. in hopes of using it to benefit from tax deduction and savings and investments for retirement expenses were seriously damaged due to the accused's illegal actions. They had gathered together to submit a complaint to the Securities and Exchange Commission (SEC) on July 18, 202 3. Now half a year has passed. Things are quiet. But instead, an official from the opposing fund contacted him by telephone to persuade him. When he was helpless, he came to complain to the Director-General of DSI. Because he saw that he had a track record of prosecuting STARK cases without being in front of anyone. Recently, an arrest warrant was issued to prosecute Mr. Wonnarat Tangkaravakun, the owner of STARK's major shareholder, and sent to prison. It gives hope that some justice will be served. Therefore, I came to complain to the Director General of DSI. The representative of the injured person described in the complaint letter that the lawsuit was filed. I and my group Including the people who are victims. Request that DSI treat the matter as a special case. Because there was widespread damage to tens of thousands of people. Damage tens of billions of baht and severely affecting the national economy and request that an investigation be carried out File a complaint against the fund manager, management team, and the said mutual fund asset management company (names reserved in the press release) for an offense against Securities and Exchange Act, Section 124/1, because the offender Not managing mutual funds with honesty and care to protect the interests of unitholders Using knowledge and abilities like a professional There is a conflict of interest to unitholders. and acted dishonestly causing unitholders to lose the benefits they should receive Which is punishable by imprisonment not exceeding 2 years and a fine not exceeding 5 hundred thousand baht, or both. In addition, it is an offense of fraud under Section 341 of the Criminal Law. Deceive others by making false statements. or concealing the true message which should be communicated Got property from someone who was deceived Must be punished with imprisonment not exceeding 3 years. Fine not exceeding 60,000 baht or both imprisonment and a fine, and Section 343 commits an offense by presenting a false statement to the public. Imprisonment not exceeding 5 years Fine not exceeding 1 hundred thousand baht or both and commits an offense of embezzlement according to Section 353. Whoever is assigned to manage property which is owned by another person also Violating one's duties in any way dishonestly to the point of causing damage to the benefits of that person's property Must be punished with imprisonment not exceeding 3 years. or a fine not exceeding 60,000 baht or both and asking DSI to represent me and the people who were victims in the same case. Or similarly, prosecute the wrongdoer to compensate for damages incurred in a civil matter as well. By this I and the people who are victims Suffered investment losses only in 2023, which occurred at a negative 21.93%, which I and the public understand the risk limitations of investing through mutual funds. Investing has both rewards and risks. However, such damage in this case It is not in accordance with normal investment conditions. but from the following illegal acts: 1. I have decided to invest in LTF inves tment units through the said fund for tax saving purposes. and save for retirement Because it is considered that this mutual fund company has a large financial institution of the country. is a major shareholder Have a strong and stable position But it turned out that the investment performance was clearly lower than that of similar funds. This fund has a 1-year performance of minus 21.93% (the average of the group of funds of the same type minus only 0.49 because this fund invested a lot in the stocks of Stark Corporation Public Company Limited - STARK and violated the law. Has behavior that leads to not managing the mutual fund with honesty and care to protect the interests of unitholders. Using knowledge and abilities like a professional There has been an offense involving a conflict of interest with unitholders. and violates the criminal law for fraud and embezzlement. 2. The offender still dares to violate the criminal law. by having the circumstance of giving false information to me and unitholders as w ell It can be seen that this fund has invested in shares of STARK Public Company Limited, up to 916 million shares as of October 10, 2022, with a cost price ranging from 3.72 baht to 5 baht. Later, when there was a problem, STARK canceled the deal. After the acquisition of LEONI Germany in December 2022, other funds sold STARK shares because they saw that they did not go according to plan. and may affect operating results But this fund holds a lot of stocks. Until the Stock Exchange of Thailand suspended trading for 4 months and opened for trading for the last 1 month. Between 1 and 30 June 2023, the perpetrators provided false information to unitholders that There is only a small amount of stock left on hand. But later, the perpetrators informed the SEC on June 23 and 27, 2023 that they still held up to 670 million shares and had sold them all. Before the last day on the market for trading until June 30, 2023, during which the stock price moved at a price level of 1 to 4 satang, there should be a selling va lue remaining of not more than 20 million baht from the available costs. It is approximately 3,850 million baht. It is estimated that there will be a net loss of more than 3,500 million. 3. Offender Not managing mutual funds with honesty and care to protect the interests of unitholders Using knowledge and abilities like a professional It can be seen from the statement dated June 19, 2023 that "..the company has sent a team of analysts to visit the Phelps Dodge factory, a subsidiary of STARK, to assess its ability to operate its business. The preliminary assessment is that the company can still operate its business. Therefore, we did not sell all of our shares and are waiting for the disclosure of financial information certified by the auditor on June 16, 2023 in order to further evaluate our investment in STARK shares.' In fact, it appears that the perpetrator Lack of caution in protecting the interests of unitholders Using knowledge and abilities like a professional Because while other asset management com panies reported that they had sold all their STARK shares But the perpetrators still hold as many as 670 million shares. and provided false information according to item 2 and still lacks the knowledge and ability of a professional Because it is still seen that the STARK business will still be able to continue operating. Therefore did not sell all the shares. and also holds a large number of shares In the end, they had to sell it at a price that had almost lost its value. which is an action that violates corruption laws causing unitholders to lose the benefits they should receive 4. The offender still has behavior that indicates that there may be corruption. By trading stocks that are not transparent It is different from the nature of general fund management. By chasing STARK prices at high prices, large quantities, concentrated and also buying concentrated stocks in many STARK group stocks. that have major shareholders in the same group as STARK, such as TOA Public Company Limited and DPAINT, etc., which is different from the normal nature of investing 5. In addition, it was found that the perpetrators had behavior that showed signs of dishonesty and conflicts of interest with unitholders in many cases, such as investing in SKY shares by buying big lots. The price was 30.25 baht when the stock price had been chased up for only 2 months. Even though the price has been stable in the 10 baht area for a year, he refuses to invest and buy when the stock price is cheap. Or buy a big lot of ADD shares when the price goes up to 30 baht. Then come to sell at a loss of 10 baht or the behavior of chasing the price to buy SAMART SAMTEL shares at a price of 30 to 45 baht when the fundamental factors change significantly in the negative. Didn't adjust any ports. Just came to sell to cut off losses around the price of 3-5 baht at the beginning of this year. Even though the business is recovering which is an offense Securities Act Section 124/1 and Criminal Law Section 343 and Section 353 do not manage mutual funds with hones ty and care to protect the interests of unitholders. Using knowledge and abilities like a professional There is a conflict of interest to unitholders. and acted dishonestly causing unitholders to lose the benefits they should receive and may violate other sections of the Securities and Exchange Act. I and the people who are victims previously filed a complaint letter with the Securities and Exchange Commission (SEC) on July 18, 2023. Please provide justice as an official with legal duties to protect investors. Unitholders are protected by law. and quickly restore confidence back to the capital market. By conducting an investigation and represent me and other unitholders. who are victims who have suffered damages in similar cases But more than half a year has passed. There hasn't been any progress yet. The SEC never asked for any additional information from me or the victims. I and the affected people are therefore afraid that Will not receive justice, so I hope DSI will accept it as a special case. Source: Thai News Agency