Thailand Securities and Exchange Commission asks prosecutor to seek THB 43 million and maximum civil sanctions in TSR share manipulation case

The Thailand Securities and Exchange Commission has asked the public prosecutor to file a civil lawsuit against Miss Paranya Rudjanapronpajee over manipulation of the share price or trading volume of Thiensurat Public Company Limited, now TSR Living Solution Public Company Limited, seeking the maximum statutory civil sanctions. The request follows her refusal to comply with sanctions previously imposed by the Civil Sanction Committee, which the SEC treats as a refusal to resolve the case at the SEC level. The Civil Sanction Committee had earlier ordered total payments of THB 32,327,329, comprising a civil penalty, compensation equal to the benefit received or that should have been received, and reimbursement of the SEC's investigative expenses. It also imposed a six-month suspension from trading securities or derivatives and a 12-month ban on serving as a director or executive of securities issuing companies or securities companies. In its court filing request, the SEC is seeking THB 43,018,879.32 plus interest, together with a suspension from trading securities and derivatives and a bar from serving as a director or executive at the maximum statutory penalties. The SEC has also referred the matter to the Anti-Money Laundering Office for further action within its authority because unfair securities trading misconduct is a predicate offense under the Anti-Money Laundering Act B.E. 2542 (1999).