Following a referral from the Stock Exchange of Thailand (SET) in 2022 and the SEC’s further investigation, evidence revealed reasonable grounds to believe that a group of 21 individuals, namely (1) Mr. Anuwat Sae-Tang, (2) Mr. Kridskon Rumthaisong, (3) Mr. Nopphadon Srisuwan, (4) Mr. Natthapong Panchasiriwarakul (former surname: Srisuwan), (5) Mr. Panupon Worrapanee, (6) Miss Thitiporn Wangpaithoon, (7) Mr. Thanakit Lersphati, (8) Miss Nichanun Jirachaiworachote (former name-surname: Miss Jirawan Chaipongpati), (9) Mr. Pornthep Vichaikul, (10) Miss Phatthira Homvilai, (11) Mr. Phongphan Paanaphim, (12) Mr. Pavich Chaithammakorn, (13) Mr. Trin Thiratanaphokin, (14) Mr Prasit Siriyaowon, (15) Mr. Surat Arsirawat, (16) Mrs. La-Or Tangkaravakoon, (17) Mr. Natthaphon Nitithanatkul, (18) Miss Pimnada Wittayaamornroj, (19) Mr. Vinit Maneenual, (20) Miss Kanokphat Chokthanamanee, and (21) Miss Siripitcha Maneewan, colluded to manipulate the price and/or trading volume of PTC shares during the pre-open session on the morning of February 15, 2022, which was the first trading day on the Market for Alternative Investment (mai). The group conspired and coordinated their actions by assigning roles among themselves, placing continuous buy and/or sell orders at multiple price levels, resulting in PTC shares opening at THB 6.75 per share, 92.86% higher than the initial public offering (IPO) price. Such conduct misled the public regarding the PTC share price and/or trading volume, and was deliberately intended to make the PTC share price inconsistent with normal market conditions.

The actions of the 21 offenders above constitute violations of Section 244/3 (1) and (2) of the Securities and Exchange Act B.E. 2535 (1992) (“SEA”), in conjunction with Section 83 of the Penal Code, and fall under the presumptions of Section 244/5 (4) and/or Section 244/6 (3) of the SEA, as the case may be, subject to the penalties under Section 296, Section 296/1 and Section 296/2 of the SEA. The SEC has therefore filed criminal complaints against all 21 offenders with the DSI for further legal action. 

Concurrently, the SEC has reported these legal proceedings above to the AMLO for consideration of further action because such offenses are unfair activities related to securities trading, which constitute a predicate offense under the Law on Anti-Money Laundering.    

Following the criminal complaints filed by the SEC, the criminal enforcement process will proceed with an investigation by the inquiry official, a prosecution of the public prosecutor, and an adjudication of the court of justice, respectively. In this regard, the SEC will monitor the progress in the legal proceedings and will cooperate fully with relevant agencies to support legal enforcement under the SEA after the criminal complaint has been filed.