Court Denies Bail for Mallika in Forex Fraud Case
A Thai forex trading executive was denied bail after being charged with fraud involving her company QRS Global, with courts citing the severity of the offense and flight risk concerns.
On July 16, 2025, at the Criminal Court on Ratchadaphisek Road, Special Case Investigation Bureau officers brought Ms. Mallika Maakslud, executive and director of QRS Education Limited (the Thai operator of QRS Global), before the court on charges of fraud in foreign exchange trading. She was held in custody and subsequently applied for bail with collateral, but the court rejected her request. The court found that the charges carry severe penalties, involve substantial damages, and reflect organized criminal activity with divided responsibilities. Considering the gravity of the offense and its wide-ranging economic impact, along with concerns she might flee or tamper with evidence, the court denied her release pending further investigation. Mallika was transferred to Central Women's Prison.
