The Thailand Securities and Exchange Commission announced civil sanctions against six individuals for jointly manipulating the share price or trading volume of Eureka Design Public Company Limited (UREKA). The Civil Sanction Committee ordered total payments of THB 65,946,478 and imposed prohibitions on securities and derivatives trading, as well as bans on serving as directors or executives of securities issuers and securities companies for specified periods. The misconduct followed a referral from the Stock Exchange of Thailand and related to trading during 31 March 2020 to 8 May 2020, where the individuals allegedly coordinated roles and executed strategies including pushing prices through buy orders, sweeping best offers, maintaining bids across price levels to obstruct other investors, controlling the closing price, and conducting matched trading. Individual monetary obligations and bans vary, with the largest payment ordered against Mr. Preecha Kraikruan (THB 37,856,934; 17-month trading ban; 34-month director/executive ban) and Mr. Sarayuth Kong-um (THB 25,123,872; 17-month trading ban; 34-month director/executive ban), while the other four individuals each received 14-month trading bans and 28-month director/executive bans alongside lower payment amounts. The sanctions take effect when each offender signs a consent letter; if any refuse, the SEC will refer the matter to the public prosecutor to seek maximum civil sanctions in the Civil Court, not lower than those specified by the committee. Civil penalties and compensation amounts are remitted to the Ministry of Finance as public revenue.

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