The Thailand Securities and Exchange Commission has imposed civil sanctions on three individuals for jointly manipulating the price or trading volume of NCL International Logistics Public Company Limited shares between June 21 and Oct. 26, 2023. Phatthira Homvilai, Pongthep Vichaikul and Pornthep Vichaikul must pay civil penalties and reimburse investigation expenses totaling THB 4,894,925.04, with each liable for THB 1,631,641.68. The three used Homvilai’s trading account and funds from the bank accounts of Pongthep and Pornthep to place orders intended to raise NCL’s price and distort market conditions. The sanctions suspend Homvilai, Pongthep and Pornthep from securities or derivatives trading for 8.5, 14 and 8.5 months, respectively, and bar them from serving as directors or executives of securities issuers or securities companies for 17, 28 and 17 months. The sanctions take effect when each individual signs a consent letter. If an individual refuses, the SEC will ask the public prosecutor to seek the maximum applicable civil sanctions in the Civil Court, at rates no lower than those set by the Civil Sanctions Committee.
2026-09-16Thailand Securities & Exchange Commission
Thailand Securities and Exchange Commission imposes THB 4.89 million in sanctions on three individuals for NCL share manipulation
The Thailand Securities and Exchange Commission imposed THB 4.89 million in civil penalties and investigation expense reimbursements on three individuals for manipulating NCL shares. The sanctions also include trading suspensions of up to 14 months and director or executive bans of up to 28 months.