The Thailand Securities & Exchange Commission (SEC) has asked the public prosecutor to file a Civil Court lawsuit against 10 named individuals in connection with alleged share price manipulation in Star Universal Network Public Company Limited (STAR), seeking the imposition of civil sanctions at the maximum applicable statutory penalties. The case follows a Civil Sanction Committee (CSC) decision to impose civil sanctions on 15 offenders, requiring total payments of THB 65,170,068 covering civil penalties, compensation for benefits received or to be received, and reimbursement of SEC investigative expenses, alongside bans on securities and derivatives trading for 14 to 39.5 months and prohibitions on serving as directors or executives of securities issuers and securities companies for 28 to 79 months. Five offenders agreed to comply, while the remaining 10 refused, prompting the SEC to refer the matter to the prosecutor to seek civil penalties totalling THB 47,918,019.93 plus interest, together with trading prohibitions and director or executive bans aligned to the severity of misconduct. The SEC also referred the matter to the Anti-Money Laundering Office, citing the unfair trading practices as predicate offences under the Anti-Money Laundering Act B.E. 2542 (1999).

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