The Thailand Securities and Exchange Commission has imposed civil sanctions on three individuals for colluding to manipulate the price or trading volume of Food and Drinks Public Company Limited shares between Aug. 9, 2022, and March 8, 2023. The sanctions require combined payments of THB 6,801,026.48, comprising civil penalties, compensation for benefits received or expected and reimbursement of investigative expenses. Each individual also faces an 11-month trading suspension and a 22-month bar from serving as a director or executive of a securities issuing company or securities company. The regulator found that the individuals coordinated orders through an intermediary to push up the share price, maintain bids or offers, split orders, match trades among themselves and place bids shortly before market close to raise the closing price. The required payments are THB 803,314.66 for Sompong Srisupornwong, THB 1,057,387.16 for Pichaya Krimwongrat and THB 4,940,324.66 for Peerapol Prasertchaiyakul. If an individual does not consent to the sanctions, the SEC will ask the public prosecutor to seek civil sanctions in court at the maximum statutory rates, subject to a floor equal to the amounts prescribed by the Civil Sanctions Committee.
Thailand Securities and Exchange Commission sanctions three individuals for F&D share manipulation, orders THB 6.8 million in payments
The Thailand Securities and Exchange Commission has sanctioned three individuals for manipulating the price or trading volume of Food and Drinks Public Company Limited shares. They must pay a combined THB 6.8 million, with each subject to an 11-month trading suspension and a 22-month director and executive bar.