NBTC votes to terminate K4's licence for fraud charges

The board of the National Broadcasting and Telecommunications Commission (NBTC) has unanimously resolved to terminate the telecom licence of K4 Communication Company after the firm was charged with fraud.

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Before the resolution, the company held a mobile virtual network operator (MVNO) licence and used the network capacity of National Telecom (NT) to offer a mobile service.

An MVNO does not have its own dedicated network, instead renting network capacity from telecom operators to offer a mobile service.

According to Trairat Viriyasirikul, acting secretary-general of the NBTC, the decision to revoke the licence came after the Economic Crime Suppression Division issued an arrest warrant for K4 and its authorised directors on charges of joint fraud.

A number of alleged victims filed complaints with the police late last year against K4, claiming they had been tricked by K4 into investing in top-up kiosks, an investment they claim was a form of a Ponzi scheme, resulting in damages to them.