The SEC imposed sanctions on four individuals for manipulating Triton Holding’s share price, totaling 34.4 million baht in penalties and restricting their trading and executive roles.
The Securities and Exchange Commission (SEC) has imposed civil sanctions on four offenders – namely, (1) Mr. Pasu Wachirapong, (2) Mr. Vichan Wachirapong, (3) Mr. Akarat Vanarat, and (4) Mr. Natthawat Piboonthanaamorn – for manipulating the share price of Triton Holding Public Company Limited (TRITN). The civil sanctions require the offenders to pay collective civil monetary penalties totaling 34,379,151 baht and prohibit them from trading securities and derivatives and serving as directors and executives of securities issuing companies and listed companies for specified periods.
According to a referral from the Stock Exchange of Thailand (SET) in 2023 and the SEC’s further investigation, it was revealed that during the period between 2 – 9 September 2022, the four individuals above had personal relationships, financial trails or connections through associated persons. Specifically, (1) Pasu, (2) Vichan and (3) Akarat colluded to manipulate the price or trading volume of TRITN securities by continuously placing buy or sell orders with the intention to cause the price or trading volume of TRITN securities to deviate from normal market conditions, with (4) Natthawat providing assistance or facilitation to Pasu.
The acts of Pasu, Vichan, and Akarat were liable to be an offense of colluding to manipulate securities price in violation of Section 244/3(1)(2) in conjunction with Section 244/5 or Section 244/3(1)(2) in conjunction with Section 244/6, subject to the penalties under Section 296, Section 296/1 and Section 296/2 of the Securities and Exchange Act B.E. 2535 (1992) (SEA), as the case may be, in conjunction with Section 83 of the Criminal Code. Additionally, the act of Natthawat was liable to be an offense under Section 244/3(1)(2) in conjunction with Section 315 of the SEA, subject to the penalties under Section 296, Section 296/1 and Section 296/2 of the SEA.
The Civil Sanction Committee (CSC) has therefore resolved to impose civil sanctions on the four offenders, comprising civil penalties, compensations in the amount equal to the benefit received or would have been received, reimbursements of investigative expenses incurred by the SEC, and a bar from trading securities or derivatives and from serving as director or executive in securities issuing companies or securities companies, with details as follows:
(1) Pasu is required to pay a civil monetary penalty, a compensation for the benefit received or would have been received, and a reimbursement of the investigative expenses incurred by the SEC in the total amount of 32,761,239 baht. Additionally, Pasu is prohibited from trading securities or derivatives for 14 months and from serving as director or executive for 28 months;
(2) Vichan is required to pay a civil monetary penalty and a reimbursement of the investigative expenses incurred by the SEC in the total amount of 539,304 baht. Additionally, Vichan is prohibited from trading securities or derivatives for 11 months and from serving as director or executive for 22 months;
Source : SEC imposes civil sanction on four offenders for manipulating the TRITN share price
