Bangkok, March 19, 2014 – The SEC revealed that the Settlement Committee imposed a total fine of 11,962,385.44 baht on (1) Tanika Tangpoonphonvivat, (2) Therasak Tangpoonphonvivat, (3) Preechaya Teekasurat (former surname: Wongpaitoonpiya), (4) Supon Boonsong, (5) Sarawut Leelasoanchai, (6) Natthaya Chokudomnirun, (7) Nonthasorn Dantrakul, (8) Samart Chittipatanakulchai, (9) Tuangwut Phanyadilok, (10) Ruangrapee Chakitdee, and (11) Anoma Eiamraksawong for manipulating share price of Millcon Steel Plc. (MILL).
With the referral from the Stock Exchange of Thailand on irregular trading of MILL shares by a group of persons, the SEC probed into the case and found that from July 24 to August 26, 2009, Tanika, Therasak, Preechaya, Supon, Sarawut, Natthaya, Nonthasorn, Samart, Tuangwut, Ruangrapee, and Anoma had colluded to trade MILL shares through securities trading accounts of their own and other persons in the group. Trading was done in concealment to mislead the public into believing that MILL shares were actively traded or share price was changed as MILL shares were traded in various manners which included inflating and controlling share price; making opening and closing prices; and matching orders within the group. These persons also traded MILL shares on a continual basis to induce investing public to purchase or sell MILL shares, causing the share price to be inconsistent with the normal market condition. The scheme caused a 64.63 percent increase of MILL share’s closing price as the price soared from 4.92 baht per share on July 23, 2009 to 8.10 baht per share on August 26, 2009. Moreover, MILL share’s average daily trading volume jumped from 0.63 million shares to 6.77 million shares; an increase of 6.14 million shares or 975.28 percent.
The above acts were in violation of Sections 243(1) in conjunction with 244 and 243(2) of the Securities and Exchange Act B.E. 2535 (1992) in conjunction with Section 83 of the Penal Code. The Settlement Committee therefore imposed a fine of 500,000 baht on Tanika, Therasak, Preechaya, Supon, Nonthasorn, Samart, and Ruangrapee each. Anoma, Natthaya, Sarawut, and Tuangwut were fined in the amount of 4,165,509.06 baht, 2,093,182.82 baht, 1,651,525.98 baht, and 552,167.58 baht, respectively.