The Thailand Securities and Exchange Commission has imposed civil sanctions on four individuals for manipulating the share price of Triton Holding Public Company Limited (TRITN), requiring collective payments totaling THB 34,379,151 and imposing bans on trading securities and derivatives and on serving as directors and executives of securities issuers and listed companies for specified periods. Following a 2023 referral from the Stock Exchange of Thailand and the SEC’s investigation, the conduct was found to have occurred between 2 and 9 September 2022 and involved collusion by Pasu Wachirapong, Vichan Wachirapong and Akarat Vanarat to place continuous buy or sell orders intended to distort TRITN’s price or trading volume, with Natthawat Piboonthanaamorn assisting Pasu. The Civil Sanction Committee set individual sanctions at THB 32,761,239 for Pasu with a 14-month trading ban and a 28-month director or executive ban, and THB 539,304 each for Vichan and Akarat with 11-month trading bans and 22-month director or executive bans, and THB 539,304 for Natthawat with a nine-month trading ban and an 18-month director or executive ban. The sanctions take effect when the individuals sign consent letters agreeing to comply; if any refuse, the SEC will refer the cases to the public prosecutor for Civil Court proceedings to seek the maximum applicable civil sanctions, which must not be lower than those specified by the Civil Sanction Committee. Civil monetary penalties and compensations for benefits received or that would have been received must be remitted to the Ministry of Finance as public revenue.

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