The SEC Civil Sanction Committee (CSC) had earlier resolved to impose civil sanctions on all four offenders of this case, among which only two agreed to comply with the specified civil sanctions. However, the other two, namely, (1) LLC Fair Expo company and (2) Mr. Mikalai Zahorski, who are subject to a total monetary civil sanction of 6,005,620 baht (a civil penalty and a reimbursement of investigative expenses incurred by the SEC), refused to comply with the specified civil sanctions, which was deemed unwillingness to settle the case with the SEC at this stage. 

The SEC, therefore, has requested the public prosecutor in writing to file a civil lawsuit against (1) and (2) for imposition of the maximum applicable civil sanctions comprising a monetary civil sanction of 12,005,620 baht plus interest, a prohibition from trading digital assets or entering into derivatives contracts related to digital assets for a specified period, and a bar of (2) from serving as a director or executive of digital asset business operators. In this regard, Mr. Mikalai Zahorski shall be liable to the civil penalties of the LLC Fair Expo company as a joint debtor. 

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Remark:

SEC News No. 242/2022 “SEC imposes civil sanctions on four offenders for creating artificial trading volume of three digital tokens on the Satang Corporation Limited’s exchange”, released on 29 December 2022, can be viewed here https://www.sec.or.th/TH/Pages/News_Detail.aspx?SECID=9794