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No. 60 / 2011

Thursday 30 June 2011


Bangkok, June 30, 2011 -  The Settlement Committee imposed a fine of B333,333 on Krit Pitimanaaree for aidding or abeeting to share price manipulation of Ascon Contruction Plc. (ASCON) during January 9, 2006 - January 25, 2007.

The SEC probed into the case and found that Krit aided and abetted manipulation of ASCON share price by allowing the accounts for securities trading and bank deposit to be opened in his name and facilitating relevant financial transactions. His action was considered a contravention of Section 243(1) in conjunction with Section 244 and 243(2) of the Securties and Exchange Act B.E. 2535 (1992) and Section 86 of the Penal Code. The Settlement Committee therefore imposed a fine on Krit in the amount of B333,333.33.

Previously, Settlement Committee imposed fines on the principal and other aidders or abettors of the ASCON share manipulation (Details in SEC News No.45/2011).
 


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