SEC Penalizes MBAX Stock Manipulation

Thansettakij•Economy•19d ago

Reader Briefing

The SEC has imposed civil sanctions on Mr. Kajornkiat for manipulating the price and volume of MBAX shares.

•Mr. Kajornkiat manipulated MBAX stock prices between June 9 and August 23, 2022.
•The SEC ordered Mr. Kajornkiat to pay a total of 11,563,136 baht.
•Mr. Kajornkiat is banned from trading securities for 6 months and serving as a director or executive for 12 months.
•The action follows information received by the SEC from the Stock Exchange of Thailand in January 2023.

•The SEC received information from the Stock Exchange of Thailand in January 2023 regarding potential misconduct.
•Mr. Kajornkiat engaged in price manipulation of MBAX shares between June 9 and August 23, 2022, by creating deceptive buy orders to lure other investors.
•The Civil Sanction Committee resolved to apply civil sanctions against Mr. Kajornkiat.
•Mr. Kajornkiat is required to pay a total of 11,563,136 baht, covering civil fines, disgorgement of benefits, and SEC investigation expenses.
•Mr. Kajornkiat is prohibited from trading securities or derivatives contracts for 6 months.
•Mr. Kajornkiat is prohibited from serving as a director or executive in a securities-issuing company or securities company for 12 months.
•The prohibitions take effect upon the signing of the consent record by Mr. Kajornkiat.
•If Mr. Kajornkiat does not consent, the SEC will request the public prosecutor to file a lawsuit in the Civil Court.

Full article content is available on the original source.

Securities and Exchange Commission(สำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์)ℹ️

The regulatory body that investigated and imposed civil sanctions for stock manipulation.

Stock Exchange of Thailand(ตลาดหลักทรัพย์แห่งประเทศไทย)ℹ️

The organization that provided information to the Securities and Exchange Commission in January 2023.

MBAX

The company whose shares were subject to price and volume manipulation.

Civil Sanction Committee(คณะกรรมการพิจารณามาตรการลงโทษทางแพ่ง)

The committee that resolved to apply civil sanctions against Mr. Kajornkiat.

Ministry of Finance(กระทรวงการคลัง)ℹ️

The ministry to which the civil fines and disgorged benefits are submitted as state revenue.

Mr. Kajornkiat(นายขจรเกียรติ)

The individual found to have manipulated the price and volume of MBAX shares.

Securities and Exchange Act 1992(พระราชบัญญัติหลักทรัพย์และตลาดหลักทรัพย์ พ.ศ. 2535)

The legislation under which the stock manipulation was identified as an offense.