The SEC received information from a complainant and the auditor between 4 November 2020 and 26 March 2021, conducted further investigations, and coordinated with several foreign regulatory agencies to gather evidence since these transactions occurred overseas. It was found that during 2013–2017, Mr. Mitsuji Konoshita, who at that time was Chairman and CEO of GL* as well as Group Lease Holdings Pte. Ltd. (GLH), a subsidiary in Singapore, committed fraudulent acts and/or sought unlawful gains for himself or others, causing damage to GL and/or its subsidiary. Specifically, Mr. Mitsuji Konoshita used bank deposits of GLH to guarantee loans for his own private company registered in the British Virgin Islands. This guarantee obligation remained from 2013 until 2023, with no evidence that GL or GLH benefited from these loans or any reasonable grounds to believe it was done for the benefit of GL and/or GLH businesses.

Mr. Mitsuji Konoshita’s acts constituted offenses under Paragraph 2 of Section 281/2, in conjunction with Sections 89/7, Section 89/24, Section 311 and Section 313 of the Securities and Exchange Act B.E.2535 (1992) (SEA). Therefore, the SEC has filed a criminal complaint against him with the ECD for further legal proceedings.

Additionally, the SEC has reported this action to the AMLO for further legal proceedings since the offenses in this case also constitute a predicate offense under the Anti-Money Laundering Act.

This criminal complaint has resulted in Mr. Mitsuji Konoshita being liable to have untrustworthy characteristics and therefore unable to hold a position as a director or executive in securities issuing companies and listed companies throughout the duration of the legal proceedings, starting from the SEC’s filing date of the criminal complaint with the ECD.

Following the criminal complaint filed by the SEC, the criminal enforcement process will proceed with an investigation by the inquiry official, a prosecution of the public prosecutor, and an adjudication of the court of justice, respectively. In this regard, the SEC will monitor progresses in the legal proceedings and will cooperate fully with relevant agencies to support legal enforcement under the SEA after the criminal complaint have been filed.  

Note: 
* The Stock Exchange of Thailand delisted Group Lease Public Company Limited (GL) on 24 April 2025.