The Thailand Securities and Exchange Commission has asked the public prosecutor to file a civil lawsuit against Mr. Chanon Wangtal and Mr. Natpapat Keschaimongkol over alleged manipulation of Scan Inter Public Company Limited (SCN) shares, seeking the imposition of civil sanctions with the maximum applicable statutory penalties. The case follows a Civil Sanction Committee decision to impose civil sanctions on 12 offenders for SCN share price manipulation, requiring total payments of THB 28,223,311 comprising civil penalties, compensation equal to benefits received or that would have been received, and reimbursement of the SEC’s investigative expenses. The sanctions also included prohibitions on securities and derivatives trading for 14 or 20 months and bans from serving as directors or executives for 28 or 40 months, depending on the individual. Ten offenders agreed to comply, while the two named individuals refused, prompting escalation beyond settlement at the SEC level. The SEC has submitted the matter to the public prosecutor for filing in the Civil Court, seeking total civil penalties of THB 10,553,382 plus interest, alongside trading prohibitions and bans on holding director or executive positions at securities issuing companies or securities companies, with maximum statutory penalties. The proceedings were also reported to the Anti-Money Laundering Office for consideration under its authority, as unfair securities trading is a predicate offense under the Anti-Money Laundering Act B.E. 2542 (1999).

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