SEC Penalizes 18 Individuals for META Stock Manipulation

MGR Online•Economy•3d ago

Reader Briefing

The Securities and Exchange Commission (SEC) imposed civil sanctions on 18 individuals for manipulating the price and trading volume of META shares between 2018 and 2020.

•The SEC ordered a total payment of 172.57 million baht from 18 individuals involved in manipulating META shares.
•10 of the 18 individuals in the META case were previously involved in stock manipulation cases regarding SCN or VL.
•Four individuals—Nattapapat Keschaimongkol, Pichet Permsaphiran, Phoranee Mekdamrongsaeng, and Supasit Phokinjarurat—appeared in all three cases: SCN, VL, and META.
•The SEC also penalized 4 individuals for manipulating TPL shares on its first trading day, June 30, 2023.

Overview

•The Securities and Exchange Commission (SEC) imposed civil sanctions on 18 individuals for manipulating META stock price and volume between 2018 and 2020.
•The SEC required total payments of 172.57 million baht and banned the 18 individuals from securities trading for 11 to 51 months and from executive roles for 22 to 102 months.
•The SEC found the group used coordinated orders, layered buy orders, and Big Lot trades to create a false appearance of market liquidity and demand for META.
•9 individuals in the META case were previously involved in the SCN case (August 23 to November 2, 2018), and 5 individuals were involved in the VL case (December 6, 2019 to March 31, 2020).
•In April 2025, the SEC requested prosecutors to sue Chanon Wangtan and Nattapapat Keschaimongkol in the SCN case after they refused to comply with civil sanctions.
•On September 1, 2026, the SEC penalized 4 individuals for manipulating TPL shares on June 30, 2023, requiring total payments of 20.29 million baht.
•Suwit Phiphatwilaikul, a major shareholder of META, serves as a connection to the TPL group through shared ownership in AQUA and previous manipulation of MAX, EIC, NEWS, and NEWS-W5 shares in 2016.

Full article content is available on the original source.

Read on MGR Online (Thai Version)View in Google Translate

Source: MGR Online (Original)

View Original Article

Key Entities

Organization

Securities and Exchange Commission (SEC)(สำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์ (ก.ล.ต.))

The regulatory body that imposed civil sanctions on individuals for stock manipulation of META, TPL, SCN, and VL.

Meta Corporation Public Company Limited (META)(บริษัท เมตะ คอร์ปอเรชั่น จำกัด (มหาชน))

A public company whose shares were subject to price and volume manipulation between 2018 and 2020.

Thai Parcel Public Company Limited (TPL)(บริษัท ไทยพาร์เซิล จำกัด (มหาชน))

A public company whose shares were manipulated on its first trading day on June 30, 2023.

SCN

A company whose stock manipulation case occurred between August 23 and November 2, 2018.

V.L. Enterprise (VL)(วี.แอล. เอ็นเตอร์ไพรส์)

A company whose stock manipulation case occurred between December 6, 2019 and March 31, 2020.

AQUA

A company where Suwit Phiphatwilaikul and members of the TPL group were shareholders.

MAX

A company whose shares were manipulated in 2016 by Suwit Phiphatwilaikul and others.

EIC

A company whose shares were manipulated in 2016 by Suwit Phiphatwilaikul and others.

NEWS

A company whose shares were manipulated in 2016 by Suwit Phiphatwilaikul and others.

NEWS-W5

A security whose price was manipulated in 2016 by Suwit Phiphatwilaikul and others.

Person

Supasit Phokinjarurat(ศุภศิษฏ์ โภคินจารุรัศมิ์)

An individual penalized in the META, SCN, and VL stock manipulation cases.

Chanon Wangtan(ชนน วังตาล)

An individual involved in the META and SCN cases who was requested to be sued in civil court in April 2025.

Anchada Theerapongwisanupon(อัญชฎา ธีรพงศ์วิษณุพร)

An individual penalized in the META and SCN stock manipulation cases.

Monthika Mongkolnavin(มณทิกา มงคลนาวิน)

An individual penalized in the META and SCN stock manipulation cases.

Pichet Permsaphiran(พิเชษฐ์ เพิ่มทรัพย์หิรัญ)

An individual penalized in the META, SCN, and VL stock manipulation cases.

Titanan Runroengjai(ทิตานัน หรุ่นเริงใจ)

An individual penalized in the META and SCN stock manipulation cases.

Phoranee Mekdamrongsaeng(ภรณี เมฆดำรงแสง)

An individual penalized in the META, SCN, and VL stock manipulation cases.

Narut Wiwatthanakrai(ณรุจ วิวรรธนไกร)

An individual in the META case who received the maximum ban of 51 months from trading and 102 months from executive roles.

Nattapapat Keschaimongkol(ณัฐปภัสร์ เกสร์ชัยมงคล)

An individual penalized in the META, SCN, and VL cases, who was ordered to pay the highest amount of 39.05 million baht in the META case.

Bovorn Rungrueangnaowarat(บวร รุ่งเรืองเนาวรัตน์)

An individual penalized in the META and VL stock manipulation cases.

On-on Akkaraseranee(อรอร อัครเศรณี)

An individual penalized in the TPL case and a shareholder of AQUA.

Phakawan Wong-opasee(ภควันต์ วงษ์โอภาสี)

An individual penalized in the TPL case with financial and personal ties to Suwit Phiphatwilaikul.

Arissa Singhsom(อริสษา สิงห์ซอม)

An individual penalized in the TPL stock manipulation case.

Kanjanarat Wongphan(กัญจนารัศม์ วงศ์พันธุ์)

An individual penalized in the TPL case with financial and personal ties to Suwit Phiphatwilaikul.

Suwit Phiphatwilaikul(สุวิทย์ พิพัฒน์วิไลกุล)

A major shareholder of META and AQUA who connects the META and TPL groups.