The SEC received information from the Stock Exchange of Thailand (SET) in October 2024 and later conducted further investigation into an interview given by Mr. Boon Vanasin to a media outlet on 25 September 2024. In the interview, he stated that he and his family had never pledged or used THG shares they held as collateral for loans, either inside or outside the market, as they did not dare to do so because they were major shareholders. However, upon investigation, evidence was found indicating that this statement was inconsistent with the facts, as Mr. Boon Vanasin and persons in the Vanasin group had pledged significant amounts of THG shares to several individuals, and some of these shares had already been enforced and sold at auction, while the remaining shares were at high risk of being transferred to others.

Therefore, since Mr. Boon Vanasin and the Vanasin group are the second largest group of major shareholders of THG, his aforementioned interview led the public to believe that the major shareholder structure of THG would still have him and the Vanasin group as the second largest major shareholders. This constitutes stating, disseminating, or certifying false statements or statements that may cause significant misunderstanding about any information related to THG in a manner likely to affect the price of securities or investment decisions regarding the securities, in violation of Section 240 of the Securities and Exchange Act B.E. 2535 (1992), which carries penalties under Sections 296 and 296/2 of the same Act. Therefore, the SEC has filed the complaint against Mr. Boon Vanasin to the ECD for further legal action.  

Concurrently, the SEC has reported the aforementioned action to the AMLO for further consideration, as the offense constitutes unfair securities trading, which is considered a predicate offense under the Anti-Money Laundering Act.

After the SEC’s complaint, the subsequent criminal law enforcement process will be an investigation by the inquiry official, a prosecution order by the public prosecutor, and a trial by the court of justice, respectively. The SEC will monitor the progress of the case and cooperate fully with relevant agencies to support law enforcement under the Securities and Exchange Act in the process following the SEC’s complaint.