Thai SEC Accuses Yim Leak of Failing to Report VGI Share Acquisition Thailand's Securities and Exchange Commission (SEC) has filed a criminal complaint against Yim Leak for failing to disclose an acquisition of shares in VGI that pushed holdings above the 5% reporting threshold. The SEC said a fund beneficially owned by Yim acquired newly issued VGI shares on Dec. 3, 2024, increasing its stake beyond 5% of the company's voting rights. Under securities law, Yim was required to file a Form 246-2 disclosure within three business days, by Dec. 9, 2024. The regulator said no such filing was made and referred the case to the Economic Crime Suppression Division for further legal action. The case will proceed through police investigation, prosecutorial review and, if warranted, court proceedings. Yim, a Cambodian businessman and chairman of BIC Group, has been the subject of separate investigations by Thai authorities into alleged money laundering and links to transnational scam networks. Thai authorities have frozen assets and securities accounts allegedly connected to the case, while Yim has denied wrongdoing through his lawyers. The SEC said the VGI disclosure case is a separate matter concerning compliance with securities reporting requirements. #Thailand #Cambodia #YimLeak #Scammer