The Securities and Exchange Commission (SEC) has revealed civil enforcement actions against four individuals for jointly manipulating the price or trading volume of shares of Thai Parcel Public Company Limited (TPL). They have been ordered to pay a total of 20,293,332 baht, along with restrictions on trading securities or derivatives and prohibitions on serving as directors or executives. The four offenders, Ms. Orn-Orn Akkaraseni, Mr. Phakawan Wong-ophasi, Ms. Arissa Sing-som, and Ms. Kanchanarat Wongphan, who are interconnected, jointly manipulated TPL share prices on the first day of trading on the stock exchange on June 30, 2023, by placing high-priced and large-volume buy orders before market open, causing the opening price to be higher than the IPO price, and matching trades among themselves to encourage others to buy, resulting in share prices deviating from normal market conditions. Ms. Orn-Orn is required to pay a total of 18,535,833 baht, while the other three are each required to pay 585,833 baht. They are also banned from trading securities and from serving as directors or executives for specified periods. If they do not comply, the SEC will proceed with filing a lawsuit in the Civil Court.
Thai Parcels Public Company LimitedSEC fines four individuals for manipulating TPL shares, imposing penalties and trading bans.
