The Thailand Securities & Exchange Commission imposed a civil sanction on Mr. Patcharadanai Chanhatthakit for manipulating prices and trading volumes in four securities: Asia Biomass Public Company Limited (ABM), Food and Drinks Public Company Limited (F&D), TVD Holdings Public Company Limited’s third series of share warrants (TVDH-W3), and AMR Asia Public Company Limited (AMR). The Civil Sanction Committee ordered total payments of THB 4,614,013 and imposed bans on securities and derivatives trading and on serving as a director or executive of securities issuers or securities companies. Following a referral from the Stock Exchange of Thailand and the SEC’s investigation, the conduct included placing buy and sell orders to push prices upward, obstructing other orders through bid placement, using small-volume buy orders to lift prices, and submitting buy orders during pre-opening or closing periods to inflate opening or closing prices. The SEC described the conduct as creating a misleading impression for the public and occurring across four separate periods in 2023: ABM (7–8 June), F&D (21 July), TVDH-W3 (25 July–3 August), and AMR (28–29 August). The CSC sanction comprises civil penalties, compensation equal to benefits received or that would have been received, and reimbursement of investigative expenses, alongside a 24-month trading ban and a 48-month ban from director or executive roles. The sanction takes effect when the offender signs a consent letter; otherwise, the SEC will refer the case to the public prosecutor to seek a civil court order for civil sanctions with maximum applicable statutory penalties that are not lower than the CSC-sanctioned level. Civil penalties and compensation amounts are to be remitted to the Ministry of Finance as public revenue.

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