Earlier, the Civil Sanction Committee (CSC) resolved to impose civil sanctions on nine offenders* in the case of manipulating the price or trading volume of VL shares. The sanctions include a total civil monetary penalty of 10,854,500 baht (comprising civil penalties, compensation at an equal amount to the benefit received or should have been received, and reimbursements of investigative expenses incurred by the SEC). In addition, the offenders are subject to a suspension from trading securities and derivatives for 17 months or 22.5 months, as the case may be, and a bar from serving as directors or executives for 34 months or 45 months, as the case may be.

In this regard, while the case was resolved at the SEC level for four offenders, the other five offenders, namely (1) Mr. Supasit Pokinjaruras, (2) Miss Paranee Mekdumrongsang, (3) Mr. Bovorn Rungruangnavarat, (4) Mr. Natpapat Keschaimongkol, and (5) Mr. Pichet Permsubhirunya, refused to extinguish the case in accordance with the civil sanctions imposed by the CSC, which is deemed a refusal to resolve the case at the SEC level. 

The SEC has therefore submitted a written request to the public prosecutor to file a lawsuit against the five offenders in the Civil Court, seeking the imposition of civil sanctions requiring them to pay a total amount of 5,079,141.55 baht plus interest, together with a suspension from trading securities and derivatives and a bar from serving as a director or executive, at the maximum statutory penalties. 

In addition, the SEC has referred this matter to the Anti-Money Laundering Office (AMLO) for further action within its authority, as the unfair securities trading misconduct constitutes a predicate offense under the Anti-Money Laundering Act B.E. 2542 (1999).

Note :

* SEC News No. 250/2025 dated 2 October 2025 “SEC imposes civil sanctions on nine offenders for jointly manipulating the price or trading volume of VL shares”