A British executive accused of enticing people to invest in a foreign fund and refusing to pay them back after the contracts expired, causing 40 million baht in damage, was arrested at Suvarnabhumi airport yesterday.
Economic Crime Suppression Division (ECD) police apprehended Mark Edward Kirkham, 57, at the airport.
Mr Kirkham was wanted on an arrest warrant issued by the Bangkok South Criminal Court on Dec 22, 2021 for collusion in running a securities business without permission or registering it, in violation of Section 90 of the Securities and Exchange Act, said Pol Lt Gen Jirabhop Bhuridej, commissioner of the Central Investigation Bureau.
His arrest followed complaints filed by investors with the Securities and Exchange Commission.
Mr Kirkham served as chief executive officer of PFS International Consultants Co. He allegedly persuaded clients to invest in a foreign investment fund with promised returns of 7-11%, as stated in the investment contracts.
However, the complainants said they were unable to redeem their investment when the contracts expired. This caused more than 40 million baht in damage. The firm later ceased operations.
He denied all charges and was handed over to the Economic Crime Division for legal action.