SEC files criminal charges against EARTH chairman, 13 others over alleged stock price manipulation
The Securities and Exchange Commission (SEC) has filed criminal charges against 14 individuals for allegedly manipulating the share price and futures contracts of Energy Earth Plc (EARTH), which is listed on the Stock Exchange of Thailand.
The company’s chairman of the executive board, Khajohnpong Khamdee, is among the 14 charged in an SEC complaint filed with the Department of Special Investigation (DSI).
In September 2018, the SEC had imposed a civil sanction on Khajohnpong and 10 other individuals for their alleged involvement in insider trading of EARTH shares.
The 13 others — eight men and five women — who were charged along with the chairman are identified as: Phipat Phihakendr, Phiroon Phihakendr, Phisudhi Phihakendr, Phiboon Phihakendr, Jittkasaem Kunchayangkul, Rungkan Sunyavirat, Supaporn Saikham, Parinda Visutthana, Luckana Jantem, Chidchanok Sri-in, Pachawat Kunchayangkul, Kasaemson Kunchayangkul, and Sompong Bovornkaisri.
The SEC on Thursday accused the 14 of violating the Securities and Exchange Act, the Advance Contract Trading Act, and the Penal Code.
The agency also reported the case to the Anti-Money Laundering Office for further investigation into possible violations.
