Court denies bail for three Phornprapha defendants in MORE case
Akapat “Kim” Phornprapha and two relatives were taken to the Criminal Court for indictment in the MORE share-trading case after warrants were issued
Prosecutors have taken Akapat “Kim” Phornprapha and two family members into custody and sent them to the Criminal Court for formal indictment in the MORE share-trading case, officials said on 13 January 2026.
An official at the Office of the Special Prosecutor for Special Litigation 3 said prosecutors escorted three suspects — Akapat “Kim” Phornprapha, Athipat Phornprapha, and Orpin Phornprapha — to the Criminal Court around midday to file the case.
Akapat, a key suspect in the group, reportedly met prosecutors to acknowledge the latest developments and proceed with legal steps, accompanied by the two other suspects from his family. After the meeting, officials moved to detain all three and transfer them to court for indictment under the judicial process.
Further details on court proceedings after the filing were not disclosed.
Separately, prosecutors are scheduled on 16 February 2026 to issue orders and proceed with another group of suspects, including Somnuek Kayawatthanakit, Pundaree Isarangkul, Amarit Klomjitjaroen, and Thianprasert Phon-amphai, with draft indictments said to be ready.
Pol Lt Col Woranan Srilam, director of the DSI’s Consumer Protection Case Bureau and DSI spokesperson, said the investigation has been completed and the attorney-general has ordered indictments against 42 suspects in total, with 28 already forwarded to prosecutors.
He said prosecutors informed DSI late last week to bring in the three Phornprapha suspects for indictment after they failed to appear for a scheduled appointment on 5 January 2026. DSI then petitioned the court for arrest warrants, which were approved on 12 January 2026, before authorities traced and coordinated the transfer of the trio for prosecution.
Regarding concerns that some suspects could flee abroad, Pol Lt Col Woranan said if any escape after an indictment, the process would move to extradition procedures to bring them back to face trial.
He added that the case will now proceed through court hearings, where prosecutors and defendants will each have opportunities to present evidence and arguments before the court issues a ruling. He also said the Stock Exchange of Thailand and related agencies have introduced special measures aimed at preventing similar incidents, including tighter account controls and fund-flow monitoring.
Court denies bail for three Phornprapha defendants in MORE case
Criminal Court has denied bail for three defendants from the Phornprapha family in the MORE share manipulation case, citing flight risk after they failed to appear before prosecutors as scheduled.
The court accepted the indictment for trial under black case number Aor.67/2569, read and explained the charges to the three defendants, and recorded their pleas. All three pleaded not guilty and said they would fight the case. The court then scheduled an appointment for both sides to review evidence on 16 March 2026 at 9.00am.
After the hearing, defence lawyers filed a bail request for all three defendants, offering 5 million baht per person in surety while the case proceeds.
The court considered the seriousness of the charges and the circumstances of the case and ruled that it had sufficient facts to decide without holding an inquiry into the bail application.
In denying temporary release, the court said the alleged offences could damage confidence in the securities market and involve high-value losses, making the case serious. It also noted that the three defendants had failed to report to prosecutors as scheduled, which led investigators to seek arrest warrants that the court had already issued.
Given those circumstances, the court said there were reasonable grounds to believe the defendants might flee if released, and therefore denied bail.
