Skip Ribbon Commands
Skip to main content
The Securities and Exchange Commission

SEC News Release
SEC News Release
From : Home > SEC News Release

No. 60 / 2016

Tuesday 28 June 2016


Bangkok, June 28, 2016 – The Criminal Fining Committee has imposed fines on nine manipulators of the price and trading volume of The Union Mosaic Industry Public Company Limited (UMI) shares, with details as follows: 
- Five co-principals, namely (1) Mr. Chalaem Semsarid, (2) Mr. Promakran Srinarong, (3) Mrs. Kodchaphon Singtong, (4) Mr.Chukiat Singthong, and (5) Mr.Prabpol Singtong; and   
- Four aiders, namely (6) Mr.Prasian Kongboon, (7) Ms.  Sirikorn Thongsarai (then named Pattarika Kongboon), (8) Mr. Somchai Kongboon and (9) Mr. Somchit Sabaibang.

The total fines imposed on the nine offenders was 447,263,780.45 baht.  

This manipulation case is in connection with the criminal complaint the SEC had earlier filed against four other co-principals with the Department of Special Investigation (DSI) on May 18, 2016 after they had refused to enter the criminal fining process. 

Following the Stock Exchange of Thailand (SET)’s referral, the SEC’s further investigation has revealed that Chalaem, then marketing director of Country Group Securities Public Company Limited and approved securities investment consultant – together with Promakran, Kodchaphon, Chukiat and Prabpol – agreed or conspired with the four other co-principals, whom the SEC had filed complaints against, to manipulate the price and trading volume of UMI shares by trading such shares continuously in concealment through several trading accounts to the point where the normal market condition became affected during 9 January - 28 February 2013.

Prasian, Sirikorn, Somchai and Somchit allowed the co-principals to use their trading accounts for such manipulation. 

At closing, the UMI price quadrupled from 7.75 baht per share on 8 January 2013 to 38.75 baht per share on 28 February 2013. An average daily trading increased nine times from 3 milion shares to 30 million shares.

Such offences were in violation of Section 243 of the Securities and Exchange Act of 1992 (SEA) in conjunction with Section 83 and Section 86 of the Penal Code, and liable to the penalties under Section 296 of the SEA, i.e., up to two years’ imprisonment or a fine not exceeding twice the amount of the benefits received or should have been received but in any case no less than 500,000 baht, or both. 

The aforesaid nine offenders agreed to enter the criminal fining process, resulting in the following fines: Chalaem was fined at the amount of 72,186,747.45 baht. Promakran, Kodchaphon, Chukiat and Prabpol were fined at 56,261,554.95 baht each, while Prasian, Somchai, Sirikorn, and Somchit were subject to a separate fine of 37,507,703.30 baht each. 

In addition, Chalaem is banned from being capital market personnel and considered lacking trustworthy characteristics of directors and executives of issuing companies. Thus, the SEC revoked the approval as securities investment consultant and prohibited him from re-entering the industry as capital market personnel for 10 years. 

In cases where any offender fails to pay the fine within deadline set by the Criminal Fining Committee, the SEC shall file a criminal complaint against him or her with the DSI in due course. 

-------------------------------


For more information on the other four offenders in the UMI case, please read SEC News No. 45/2016 at
http://www.sec.or.th/en/Pages/News/Detail_News.aspx?tg=NEWS&lg=en&news_no=45&news_yy=2016


The Securities and Exchange Commission, Thailand
333/3 Vibhavadi-Rangsit Road, Chomphon , Chatuchak Bangkok 10900, Thailand
Tel. +66 2033 9999 Fax. +66 2033 9660 e-mail : info@sec.or.th<
Copyright www.sec.or.th 2013 Privacy Policy | Disclaimer | Site Map

Home

:

SEC News Release