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SEC fines 8 individuals 39.34 million baht for manipulating SIMAT-W3 and TNDT prices
The Securities and Exchange Commission, or SEC, disclosed that its Civil Sanction Consideration Committee resolved to impose civil sanctions on eight wrongdoers who together created prices for SIMAT-W3 securities and TNDT shares between May and August 2021. The eight wrongdoers are Mr. Khajornkiat Ungaram, Miss Raphatporn Trongwongsa, Mr. Kraiwit Tangsanga, Miss Wariya Khemthongpradit, Mr. Thanapon Khemthongpradit, Mr. Sittapavee Chawarangkoon, Mr. Naruesorn Weerachartwattana, and Miss Kannika Jarupan. The conduct was divided into four incident periods, with the first and second involving the creation of prices for SIMAT-W3 securities and the third and fourth involving the creation of prices for TNDT shares. The wrongdoers continuously placed matching and mutually supporting buy and sell orders, matched trades among themselves, held buy or sell orders to prevent prices from falling, and split buy and sell orders into lots of thousands to tens of thousands of shares to create the appearance of heavy trading demand and mislead investors. The eight wrongdoers must pay civil fines, compensate an amount equal to the benefits received or that should have been received, and reimburse the SEC's expenses, totaling 39,340,933.03 baht. Mr. Khajornkiat pays 3,999,535.18 baht, Miss Raphatporn pays 14,243,708.18 baht, Mr. Kraiwit pays 10,276,246.47 baht, Miss Wariya pays 2,210,295.18 baht, Mr. Thanapon pays 2,117,678.18 baht, Mr. Sittapavee pays 2,184,773.18 baht, Mr. Naruesorn pays 2,168,699.18 baht, and Miss Kannika pays 2,139,997.18 baht. They are also banned from trading securities or derivatives for 42 to 84 months and banned from serving as directors or executives of securities-issuing companies or securities companies for 84 to 168 months, depending on the individual. The measures will take effect under the consent records for compliance with civil sanctions signed by the wrongdoers. If they do not consent, the SEC will ask public prosecutors to file a case with the Civil Court to impose civil sanctions at the maximum rate prescribed by law. The civil fines and compensation for benefits are state revenue to be remitted to the Ministry of Finance.