The Thailand Securities & Exchange Commission filed criminal complaints with the Economic Crime Suppression Division against nine individuals for alleged collusive manipulation of the price and or trading volumes of Comanche International Public Company Limited (COMAN) shares. The SEC also reported the proceedings to the Anti-Money Laundering Office, treating the conduct as an unfair securities trading activity that can constitute a predicate offense under anti-money laundering law. The action follows referrals from the Stock Exchange of Thailand in February and October 2023 and the SEC’s subsequent investigation, which identified suspected manipulation across three periods: 23–24 November 2022, 13 December 2022–27 January 2023, and 28 June–13 July 2023. The alleged tactics included placing buy orders to push prices higher, maintaining bids at multiple price levels to impede other investors, matching trades through synchronized orders, and influencing opening and closing prices via pre-opening and pre-closing order submissions, in alleged breach of market manipulation provisions of the Securities and Exchange Act B.E. 2535 (1992) and related criminal provisions. Following the SEC’s complaints, the matter moves through investigation, prosecution, and court adjudication. The SEC will monitor the progress of the proceedings and cooperate with relevant agencies to support enforcement under the Securities and Exchange Act.

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