The Thailand Securities and Exchange Commission has asked public prosecutors to file a civil lawsuit against 13 individuals for jointly manipulating the prices of Max Metal Corporation Co., Ltd. (MAX), Electronics Industry Public Company Limited (EIC), News Network Corporation Public Company Limited (NEWS) and NEWS Warrants Series 5 (NEWS-W5), seeking civil sanctions at the maximum statutory level. The Civil Sanction Committee had previously resolved to impose civil sanctions requiring the 13 offenders to pay civil penalties totalling THB 155,092,540, but all refused to comply. The SEC therefore submitted the matter to prosecutors for filing in the Civil Court to seek civil penalties totalling THB 202,022,012 plus interest. The SEC also reported the case to the Anti-Money Laundering Office for consideration under its powers, noting that unfair securities trading is a predicate offence under the Anti-Money Laundering Act B.E. 2542 (1999).
Thailand Securities & Exchange Commission 2025-08-21
Thailand Securities and Exchange Commission asks prosecutors to pursue civil suit against 13 alleged price manipulators in MAX, EIC, NEWS and NEWS-W5
The Thailand Securities and Exchange Commission has asked public prosecutors to file a civil lawsuit against 13 individuals for manipulating the prices of Max Metal Corporation Co., Ltd., Electronics Industry Public Company Limited, News Network Corporation Public Company Limited, and NEWS Warrants Series 5. The SEC seeks civil penalties totaling THB 202,022,012 plus interest after the individuals refused to comply with previously imposed sanctions. The case has also been reported to the Anti-Money Laundering Office for further consideration.