The Securities and Exchange Commission, or SEC, announced civil penalty action against eight wrongdoers for jointly creating price or trading volume in the warrants to purchase ordinary shares of Simat Technologies Public Company Limited, or SIMAT-W3, and the shares of Thai NDT Public Company Limited, or TNDT. The eight were ordered to pay a total of 39,340,932.73 baht under civil sanctions, along with bans on trading securities and derivatives and on serving as directors or executives of securities-issuing companies or securities firms. The eight defendants are Mr. Khajornkiat Ungaram, Miss Raphatporn Trongwongsa, Mr. Kraiwit Tangsanga, Miss Wariya Khemthongpradit, Mr. Thanapon Khemthongpradit, Mr. Sitthapavee Chawarangkoon, Mr. Naruesorn Weerachatwattana, and Miss Kannika Jarupan. The SEC received information from the Stock Exchange of Thailand and, on further investigation, found that between May and August 2021 the eight wrongdoers, who were linked financially and personally, continuously placed buy and sell orders in a manner that was coordinated and mutually supportive, causing the price and trading volume of SIMAT-W3 and TNDT shares to rise abnormally beyond normal market conditions. The conduct was divided into four periods. The first period, from 31 May 2021 to 7 June 2021, involved seven wrongdoers. The second period, from 15 June 2021 to 28 June 2021, involved eight wrongdoers. The third period, from 2 June 2021 to 10 June 2021, involved eight wrongdoers. The fourth period, from 23 June 2021 to 9 August 2021, involved eight wrongdoers. The Civil Sanctions Consideration Committee resolved to apply civil sanctions. The defendant Miss Raphatporn must pay a total of up to 14,243,708.18 baht and is banned from trading securities or derivatives for 56 months and from serving as a director or executive for 112 months. Miss Wariya received the longest trading ban at 84 months and a 168-month, or 14-year, ban on serving as a director or executive, the longest ban in this case. The civil fines and compensation for benefits obtained from the wrongdoing are state revenue remitted to the Ministry of Finance.
Simat Technologies Public Company LimitedSEC imposed civil penalties and trading/director bans for manipulation of SIMAT-W3 warrants and TNDT shares.
