The Thailand Securities and Exchange Commission (SEC) has filed a criminal complaint with the Economic Crime Suppression Division of the Royal Thai Police against Mr. Boon Vanasin for allegedly stating, disseminating or certifying false statements, or statements likely to cause material misunderstanding, about information related to Thonburi Healthcare Group Public Company Limited (THG). The SEC has also reported the case to the Anti-Money Laundering Office (AMLO). The action follows an SEC investigation into a 25 September 2024 media interview in which Mr. Vanasin stated that he and his family had never pledged or used THG shares as collateral for loans. The SEC reports it found evidence indicating the statement was inconsistent with the facts, including that Mr. Vanasin and persons in the Vanasin group had pledged significant amounts of THG shares, with some shares already enforced and sold at auction and remaining shares at high risk of transfer. The SEC states that, as the Vanasin group is THG’s second-largest group of major shareholders, the interview could have led the public to believe the shareholder structure would remain unchanged, and therefore may have affected securities prices or investment decisions, in alleged violation of Section 240 of the Securities and Exchange Act B.E. 2535 (1992), with penalties under Sections 296 and 296/2. AMLO notification was made on the basis that the offence constitutes unfair securities trading, treated as a predicate offence under the Anti-Money Laundering Act. The SEC notes that the process following its complaint includes investigation by an inquiry official, a prosecution decision by the public prosecutor, and trial by the court of justice, and that it will monitor progress and cooperate with relevant agencies.

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