TPC manipulators fined for Bt2.17m
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The Securities and Exchange Commission's Settlement Committee imposed a total fine of Bt2.17 million on Sermkirt Kangsathein, Wichian Ursiripant, and Pratheep Wongkulnit, as well as Prapat Itthichaisri and Nattida Ruckchopsanti, for manipulating the shar
The SEC probed the case and found that on October 3, 2012, Sermkirt, Wichian, and Pratheep had colluded to trade TPC shares through their own securities trading accounts and the accounts of Prapat and Nattida. The trading was done in the manner that inflated the share price and matched the trading orders within the group in concealment to mislead the public into believing that TPC shares were actively traded or TPC share price was changed. They also traded TPC shares on a continual basis, causing the share price to be inconsistent with the normal market condition. Prapat and Nattida aided and abetted the said actions by allowing the use of their trading accounts.
Sermkirt, Wichian, and Pratheep violated the Sections 243(1) in conjunction with 244 and 243(2) of the Securities and Exchange Act BE 2535 (1992) in conjunction with Section 83 of the Penal Code. Meanwhile, Prapat and Nattida violated the Sections 243(1) in conjunction with Articles 244 and 243(2) in conjunction with Section 86 of the Penal Code.
The SEC said that they all agreed to enter into the settlement procedure, the Settlement Committee imposed a fine of Bt500,000 on Sermkirt, Wichian, and Pratheep each; and Bt333,333.33 on Prapat and Nattida each.
