Following a referral from the Stock Exchange of Thailand (SET) and the SEC’s further investigation, the findings and evidence indicated that on 2 August 2022, the first trading day of YONG shares on the SET, during the morning pre-open session, the 14 offenders, namely (1) Mr. Nopphadon Srisuwan, (2) Mr. Natthapong Panchasiriwarakul, (3) Mr. Thanakit Lersphati, (4) Mr. Pornthep Vichaikul, (5) Mrs. Pranee Vichaikul, (6) Miss Phatthira Homvilai, (7) Mr. Ulit Thongsupaporn, (8) Mr. Panupon Worrapanee, (9) Miss Sarocha Nakbamrung, (10) Mr. Kittichot Pimpaporn, (11) Mr. Affan Hayeeyusoh, (12) Mr. Fais Lekdee, (13) Mr. Abdulwahab Roseh, and (14) Mr. Addeen Tulyapong, who were interconnected through both personal and financial relationships, knowingly acted together or jointly, with divided roles, to manipulate the price or trading volume of YONG shares by alternately placing buy and sell orders for YONG shares through their own securities trading accounts and those of other offenders, thereby causing the general public to be misled about the price or trading volume of YONG shares. They also placed successive buy or sell orders for such shares during the same period with the intent to cause the opening price of YONG shares to rise to a level inconsistent with normal market conditions.

The actions of the aforementioned persons constituted the offense of jointly manipulating the price or trading volume of securities under Section 244/3 (1) and (2), in conjunction with Section 244/5 (4) and/or Section 244/6 (3) and/or (6) of the Securities and Exchange Act B.E. 2535 (1992) (SEA), in conjunction with Section 83 of the Criminal Code, as applicable. The offense is subject to penalties under Section 296, Section 296/1, and Section 296/2 of the SEA.

The Civil Sanctions Committee (CSC) has therefore resolved to apply civil sanctions* to the 14 offenders by prescribing the following civil sanctions, comprising a civil penalty, a compensation equal to the benefit received or should have been received, a reimbursement of investigative expenses incurred by the SEC, a suspension from trading securities or derivatives, and a bar from serving as a director or executive in a securities issuing company or a securities company, as follows: 

(1) Mr. Nopphadon shall pay a civil penalty and a reimbursement of investigative expenses incurred by the SEC, totaling 538,292.22 baht.

(2) Mr. Natthapong shall pay a civil penalty, a compensation equal to the benefit received or should have been received, and a reimbursement of investigative expenses incurred by the SEC, totaling 3,547,792.22 baht.

(3) Mr. Thanakit shall pay a civil penalty, a compensation equal to the benefit received or should have been received, and a reimbursement of investigative expenses incurred by the SEC, totaling 8,049,982.22 baht.

(4) Mr. Pornthep shall pay a civil penalty and a reimbursement of investigative expenses incurred by the SEC, totaling 538,292.22 baht.

(5) Mrs. Pranee shall pay a civil penalty and a reimbursement of investigative expenses incurred by the SEC, totaling 538,292.22 baht.

(6) Miss Phatthira shall pay a civil penalty and a reimbursement of investigative expenses incurred by the SEC, totaling 538,292.22 baht.

(7) Mr. Ulit shall pay a civil penalty, a compensation equal to the benefit received or should have been received, and a reimbursement of investigative expenses incurred by the SEC, totaling 10,038,292.22 baht.

(8) Mr. Panupon shall pay a civil penalty and a reimbursement of investigative expenses incurred by the SEC, totaling 538,292.22 baht.

(9) Miss Sarocha shall pay a civil penalty, a compensation equal to the benefit received or should have been received, and a reimbursement of investigative expenses incurred by the SEC, totaling 12,538,292.22 baht.

(10) Mr. Kittichot shall pay a civil penalty, a compensation equal to the benefit received or should have been received, and a reimbursement of investigative expenses incurred by the SEC, totaling 25,038,292.22 baht.

(11) Mr. Affan shall pay a civil penalty, a compensation equal to the benefit received or should have been received, and a reimbursement of investigative expenses incurred by the SEC, totaling 10,038,292.22 baht.

(12) Mr. Fais shall pay a civil penalty, a compensation equal to the benefit received or should have been received, and a reimbursement of investigative expenses incurred by the SEC, totaling 1,940,007.22 baht.

(13) Mr. Abdulwahab shall pay a civil penalty, a compensation equal to the benefit received or should have been received, and a reimbursement of investigative expenses incurred by the SEC, totaling 2,038,292.22 baht.

(14) Mr. Addeen shall pay a civil penalty, a compensation equal to the benefit received or should have been received, and a reimbursement of investigative expenses incurred by the SEC, totaling 1,948,407.22 baht.

In addition, each of the 14 offenders shall be suspended from trading securities or derivatives for 8.5 months and barred from serving as a director or executive in a securities issuing company or a securities company for 17 months. 

The civil sanctions prescribed by the CSC, namely the specified periods of suspension from trading securities or derivatives and bar from serving as a director or executive as mentioned above, will take effect as specified in the letter of consent to comply with the civil sanctions prescribed by the CSC. If the offender refuses to extinguish the case, the SEC will request the public prosecutor to file a lawsuit in the Civil Court seeking the imposition of civil sanctions at the maximum rates provided by law, provided that such rates shall not be lower than those prescribed by the CSC.

Civil penalties and compensation for benefits received or that should have been received from committing the offense shall be remitted to the Ministry of Finance as public revenue.  

Note: 
* Section 317/1 of the Securities and Exchange Act B.E. 2535 (1992), as amended by the Securities and Exchange Act (No. 5) B.E. 2559 (2016), allows for civil sanctions to be imposed for criminal offenses under this Act. Details of civil sanctions and associated procedures are available  at  

https://www.sec.or.th/TH/Pages/LawandRegulations/CivilPenalty.aspx