Thai bitcoin tycoon accused in Bt1.3bn investment complaints

11 Sept 13:01 Key points summarised by AI

Thai crypto pioneer Worawat Narknawdee, known as 'Acme Traderist', is under police investigation following complaints from over 30 investors claiming they were defrauded of approximately Bt1.3 billion in cryptocurrency investments.
Narknawdee, who publicly claims to hold 11,000 Bitcoins, was previously accused by the Securities and Exchange Commission (SEC) in March 2023 for operating an unlicensed cryptocurrency trading firm, 1000X Limited.
Despite his high-profile image as a self-made billionaire, information from the Department of Business Development reveals his companies, Bitnance and Great Begins, are operating with significant accumulated debt.
Police sources suggest that the accused investor has reportedly fled to the UAE, where he maintains extensive investments in fintech, real estate, and hospitality.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.