SEC takes action against 9 individuals for manipulating NMG, EIC and TH share prices

Bangkok, The Securities and Exchange Commission (SEC) has asked the public prosecutor to sue 9 offenders in the case of manipulating the share prices of NMG, EIC, and TH, in order to impose civil penalty measures, including a period of prohibition on trading in securities and futures contracts, and a ban on being a director or executive (as the case may be) at the maximum rate permitted by law. As previously resolved by the Civil Penalty Consideration Committee (CPC) to enforce civil penalties against 9 offenders in the case of manipulating the share prices of Nation Multimedia Group Public Company Limited (NMG), Electronics Industry Public Company Limited (EIC), and Tonghua Holding Public Company Limited (TH), by requiring them to pay a total of 33,677,137.50 baht (civil fines, compensation in an amount equal to the benefits received or should have been received, and compensation for the SEC's expenses incurred in investigating the wrongdoing), and specifying a period of prohibition from trading in securit ies and futures contracts for 30 months, 28 months, or 14 months (depending on the case) for each of them, and prohibiting them from being a director or executive for 60 months, 56 months, or 28 months (depending on the case). In this regard, the nine offenders, namely (1) Mr. Yanyong Inthrasongkhro, (2) Mr. Phanurak Saeng-aram, (3) Mr. Ekawich Kamolthepa, (4) Mr. Siwasit Sainampeung, (5) Ms. Kanida Tangkittrongcharoen, (6) Mr. Phakwan Wong-opasi, (7) Mr. Kraiwit Atsawakul, (8) Ms. Kanchanarat Wongphan, and (9) Ms. Maliwan Wongchinsri, did not agree to comply with the civil penalty measures set by the SEC. It can be considered that the nine offenders did not agree to suspend the case at the SEC level. Therefore, the SEC has written a letter requesting the public prosecutor to prosecute the 9 offenders in the Civil Court to impose all civil penalty measures at the highest rate stipulated by law, namely, to pay a total of 38,017,397 baht plus interest, including a period of prohibition against the 9 offenders from trading securities and futures contracts and from being directors or executives (as the case may be). In addition, the SEC has forwarded the said action to the Anti-Money Laundering Office (AMLO) for consideration of action according to its power and duties, as the offense of unfair securities trading is a basic offense under the Anti-Money Laundering Act B.E. 2542. Source: Thai News Agency