Earlier, the Civil Sanction Committee (CSC) resolved to impose civil sanctions on 17 offenders* in the case of manipulating the price or trading volume of ECF shares. The sanctions include a total civil monetary penalty of 264,695,855 baht (comprising civil penalties, compensation at an equal amount to the benefit received or should have been received, and reimbursements of investigative expenses incurred by the SEC). In addition, the offenders are subject to a suspension from trading securities and derivatives for 11 – 45 months, as the case may be, and a bar from serving as directors or executives for 22 – 90 months, as the case may be.

In this regard, while five offender agreed to comply with the civil sanctions imposed by the CSC, the other 12 offenders, namely (1) Miss Thunyarat Suksawad, (2) Mr. Kittiphat Suksawad, (3) Mr. Wallop Suksawat, (4) Mr. Khaneungnit Chinda, (5) Mrs. Wassana Viriyatornphan, (6) Miss Tasanee Wongjirat, (7) Miss Sunee Saelo, (8) Mr. Thitikorn Fookasem, (9) Mr. Prasopsuk Sawatdee, (10) Mr. Thanaris Pornpattanajamsai, (11) Miss Audcharapron Radchanajun, and (12) Mr. Suppharoek Kwaennoi, refused to extinguish the case in accordance with the civil sanctions imposed by the CSC, which is deemed a refusal to resolve the case at the SEC level. 

The SEC has therefore submitted a written request to the public prosecutor to file a lawsuit against the 12 offenders in the Civil Court, seeking the imposition of civil sanctions requiring them to pay a total amount of 269,950,759.08, plus interest, together with a suspension from trading securities and derivatives and a bar from serving as a director or executive, at the maximum statutory penalties. 

In addition, the SEC has referred this matter to the Anti-Money Laundering Office (AMLO) for further action within its authority, as the unfair securities trading misconduct constitutes a predicate offense under the Anti-Money Laundering Act B.E. 2542 (1999).

Note: 
* SEC News No. 238/2025 dated 18 September 2025 “SEC imposes civil sanctions on 17 offenders for manipulating the price or trading volume of ECF shares”