Bangkok, 14 September 2016 ? The SEC has filed a criminal complaint with the Department of Special Investigation (DSI) against (1) Mr. Siwasit Sainumphung (2) Ms. Noppawan Suwan, and (3) Mr. Viroj Arnokkaeo for manipulating the share price of Yong Thai Public Company Limited (YCI).

Following the referral from the Stock Exchange of Thailand (SET), the SEC?s further investigation revealed that Siwasit had agreed to or colluded with five other persons to use several trading accounts to trade YCI shares in concealment and on a continuous basis to mislead the public into believing that YCI shares were traded in big volumes. Such trading manipulation took place during 10-27 September 2013, causing YCI price and trading volume to be inconsistent with the normal market condition. The wrongdoing was assisted by Noppawan and Viroj who allowed their separate trading accounts to be used for the YCI transactions in exchange for compensation.

The aforesaid offenses 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., imprisonment for up to two years or a fine not exceeding twice the amount of the benefits received or should have received but not less than the minimum amount of 500,000 baht, or both.

The complaint has been filed against Siwasit, Noppawan and Viroj with the DSI for further legal proceeding because they refused to enter the fining process with the Criminal Fining Committee. The other five offenders in the case, on the other hand, have agreed to enter the process.

In any case, filing a criminal complaint commences the criminal justice administration whereby the consideration whether a defendant is guilty will be proceeded by the inquiry official and the public prosecutor, and the court will judge the case, respectively.
 

Information contained in this news release is as of the aforementioned release date. For those who wish to see current status of the matter,
please go to compliant filed with inquiry officer