Ditsadaej Hiranjirakoon (left), a shareholder of the NMG filing his complaint with a representative from the SEC, yesterday at the SEC headquarters
Ditsadaej Hiranjirakoon (left), a shareholder of the NMG filing his complaint with a representative from the SEC, yesterday at the SEC headquarters

Suit filed against NMG’s former top brass 

Corporate October 19, 2018 01:00

By PHUWIT LIMVIPHUWAT
THE NATION

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Ditsadaej Hiranjirakoon, a shareholder of the Nation Multimedia Group (NMG), yesterday filed a complaint against former directors and managers of the NMG, urging the Securities Exchange Commission (SEC) to take swift action, at the SEC headquarters. 



 

 

“Today (Oct 18), I have filed a complaint against the former directors, managers and all other parties responsible for the management of the NMG from 2014 to 2017 with Rapee Sucharitakul, Commission and Secretary of the SEC, as we have found that there has been a fraud in the financial accounts of the NMG during that period of time,” says Ditsadaej Hiranjirakoon. 

 “For this reason, I urge the SEC to swiftly investigate this issue. If the SEC discovers that parties involved in the management of NMG have committed fraud, I urge the SEC to immediately legally prosecute the aforementioned parties in accordance to the law,” he says.

 Meanwhile, Rapee was not present to receive the complaint in person and his representatives refused to give any comments on the details of the complaint assessment procedures.

 “I hope that this will demonstrate to the public that those who are looking to exploit their companies for personal benefits, leading to the financial loss of other shareholders are not above the law,” Ditsadaej continues, “those responsible for the management of the NMG group, both past and present, have to be held accountable for their actions.” 

 Ditsadaej claims that he is not filing the complaint as a representative of other shareholders, but conceded that he has been urged by other shareholders to file the complaint against the financial statement fraud which occured from 2014-2017. 

 “I am confident in the effectiveness of the SEC in solving this conflict. Committing financial statement fraud is a significant issue in the capital market. The SEC has to take action on this issue as fast as possible as it has ramifications on investor’s confidence in the NMG as well as public confidence on the effectiveness of the SEC,” he says. 

 

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