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SEC submits the case of SCI, GSC, ASIAN, FLOYD and RP share price manipulation for the public prosecutor to file a civil lawsuit against 13 offenders



Monday 21 August 2023 | No. 148 / 2023


Bangkok, 21 August 2023 – The Securities and Exchange Commission (SEC) has requested the public prosecutor to proceed with the filing of a lawsuit in the Civil Court against 13 offenders in the case of manipulating share prices of SCI, GSC, ASIAN, FLOYD, and RP. The lawsuit seeks the Court’s order to impose the maximum applicable statutory penalties on the offenders, comprising a total of 25,374,681 baht in civil monetary fine plus interest, suspending their trading in securities or entering into derivatives contracts for a specified period and prohibiting them from serving as directors or executives (as the case may be).

The SEC Civil Sanction Committee (CSC) had earlier resolved to impose civil sanctions on 14 offenders* for manipulating share prices of the SCI Electric Public Company Limited (SCI), the Global Service Center Public Company Limited (GSC), the Asian Sea Corporation Public Company Limited (ASIAN), the Floyd Public Company Limited (FLOYD), and the Raja Ferry Port Public Company Limited (RP). The sanctions comprise a total fine of 27,398,667 baht (a civil penalty, a compensation in the amount equal to the benefit received or is entitled to be received, and a reimbursement of investigative expenses incurred by the SEC), a suspension of trading in securities or entering into derivatives contracts for a period of 14 or 30 months  (as the case may be) and a bar from serving as directors or executives in securities issuing companies or securities companies for a period of 28 or 60 months (as the case may be). 

While one offender agreed to comply with the sanctions imposed by the CSC, the other 13, namely (1) Mr. Khajornkiat Ung-aram, (2) Miss Porntip Meteecharoenwong, (3) Mrs. Tasanee Yampradit, (4) Miss Mutita Ekawipat, (5) Miss Chanisakan Chaijaroenpanya (Warisara), (6) Mr. Methasit Machawna, (7) Miss Variya Khemthongpradit, (8) Mr. Tanapol Khemthongpradit, (9) Miss Achara Suvidejkosol, (10) Miss Photchana Phisetphok, (11) Mr. Sittapawee Chawaranggoon, (12) Miss Achiraya Kieattayakorn (Ganpaorn), and (13) Miss Mewika Disri refused to comply, which reflected their unwillingness to settle the case with the SEC at this stage. 

The SEC, therefore, sent a written request to the public prosecutor to file a lawsuit against those 13 offenders in the Civil Court for imposition of the applicable statutory maximum penalties, based upon the details of individual case of manipulated shares, which collectively comprise a fine totaling 25,374,681 baht plus interest, a suspension of trading in securities or entering into derivatives contracts, and a bar from serving as directors or executives of securities issuing companies or securities companies. 

In this regard, since the offenses relating to unfair securities trading practices are also listed as a predicate offense under the Anti-Money Laundering Act B.E. 2542 (1999), the SEC has reported the case to the AMLO for consideration of further actions.

______________________

Remark: * SEC News No. 25/2023 released on 8 February 2023: “SEC imposes civil sanctions on 14 offenders for share price manipulation of SCI, GSC, ASIAN, FLOYD, and RP” (https://www.sec.or.th/TH/Pages/News_Detail.aspx?SECID=9855&NewsNo=25&NewsYear=2566&Lang=TH).  






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NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 148 / 2023 Monday 21 August 2023
SEC submits the case of SCI, GSC, ASIAN, FLOYD and RP share price manipulation for the public prosecutor to file a civil lawsuit against 13 offenders

Bangkok, 21 August 2023 – The Securities and Exchange Commission (SEC) has requested the public prosecutor to proceed with the filing of a lawsuit in the Civil Court against 13 offenders in the case of manipulating share prices of SCI, GSC, ASIAN, FLOYD, and RP. The lawsuit seeks the Court’s order to impose the maximum applicable statutory penalties on the offenders, comprising a total of 25,374,681 baht in civil monetary fine plus interest, suspending their trading in securities or entering into derivatives contracts for a specified period and prohibiting them from serving as directors or executives (as the case may be).

The SEC Civil Sanction Committee (CSC) had earlier resolved to impose civil sanctions on 14 offenders* for manipulating share prices of the SCI Electric Public Company Limited (SCI), the Global Service Center Public Company Limited (GSC), the Asian Sea Corporation Public Company Limited (ASIAN), the Floyd Public Company Limited (FLOYD), and the Raja Ferry Port Public Company Limited (RP). The sanctions comprise a total fine of 27,398,667 baht (a civil penalty, a compensation in the amount equal to the benefit received or is entitled to be received, and a reimbursement of investigative expenses incurred by the SEC), a suspension of trading in securities or entering into derivatives contracts for a period of 14 or 30 months  (as the case may be) and a bar from serving as directors or executives in securities issuing companies or securities companies for a period of 28 or 60 months (as the case may be). 

While one offender agreed to comply with the sanctions imposed by the CSC, the other 13, namely (1) Mr. Khajornkiat Ung-aram, (2) Miss Porntip Meteecharoenwong, (3) Mrs. Tasanee Yampradit, (4) Miss Mutita Ekawipat, (5) Miss Chanisakan Chaijaroenpanya (Warisara), (6) Mr. Methasit Machawna, (7) Miss Variya Khemthongpradit, (8) Mr. Tanapol Khemthongpradit, (9) Miss Achara Suvidejkosol, (10) Miss Photchana Phisetphok, (11) Mr. Sittapawee Chawaranggoon, (12) Miss Achiraya Kieattayakorn (Ganpaorn), and (13) Miss Mewika Disri refused to comply, which reflected their unwillingness to settle the case with the SEC at this stage. 

The SEC, therefore, sent a written request to the public prosecutor to file a lawsuit against those 13 offenders in the Civil Court for imposition of the applicable statutory maximum penalties, based upon the details of individual case of manipulated shares, which collectively comprise a fine totaling 25,374,681 baht plus interest, a suspension of trading in securities or entering into derivatives contracts, and a bar from serving as directors or executives of securities issuing companies or securities companies. 

In this regard, since the offenses relating to unfair securities trading practices are also listed as a predicate offense under the Anti-Money Laundering Act B.E. 2542 (1999), the SEC has reported the case to the AMLO for consideration of further actions.

______________________

Remark: * SEC News No. 25/2023 released on 8 February 2023: “SEC imposes civil sanctions on 14 offenders for share price manipulation of SCI, GSC, ASIAN, FLOYD, and RP” (https://www.sec.or.th/TH/Pages/News_Detail.aspx?SECID=9855&NewsNo=25&NewsYear=2566&Lang=TH).