Key points:
- Over THB10bn (US$270m) in gambling-linked transactions traced through company accounts
- Former executives dismissed, but court rules THB300m in bonuses must be paid
- Company to file complaints with multiple enforcement agencies
An internal audit conducted by Sendit Tech has uncovered substantial evidence of illicit activity connected to its payment gateway operations, with more than THB10bn in transactions reportedly linked to online gambling networks.
The findings were announced by company board member Tom Kruesopon and legal adviser Witoon Keng-ngarn during a press conference.
Sendit Tech, a joint venture backed by Indonesian and US investors, entered the Thai market in 2022 through the acquisition of a locally licensed payment gateway provider. The new management team formally took control in late 2023 and renamed the firm in early 2024. Following the transition, the leadership conducted a review of the company’s top clients and discovered payment flows connected to over 100 gambling websites.
Two senior executives were dismissed in response to the findings, but subsequently brought a labour suit against the company. Although the court accepted that the individuals had facilitated unlawful activity, it nevertheless ordered Sendit Tech to honour THB300m in contractual bonuses. The company has lodged an appeal.
Witoon revealed that customer funds totalling around US$8m were frozen on 30 April following an unusually rapid order by the Legal Execution Department. The process, initiated and concluded within minutes, raised concerns about procedural fairness.
Kruesopon said he had received calls from several influential figures asking him to abandon the case. He expressed concern that such pressure undermines confidence among foreign investors. He also confirmed that Sendit Tech intends to submit its findings to the Cyber Crime Investigation Bureau, the Technology Crime Suppression Division, the Anti-Money Laundering Office and the Department of Special Investigation.
