Bangkok: The Securities and Exchange Commission (SEC) has charged Boon Vanasin along with 14 other individuals for manipulating the price and trading volume of Thonburi Healthcare Group Public Company Limited (THG) shares. The charges were filed with the Economic Crime Suppression Division (ECSD), and the matter has also been reported to the Anti-Money Laundering Office (AMLO).
According to Thai News Agency, the SEC received information from the Stock Exchange of Thailand between 2022 and 2024, prompting an investigation that revealed evidence of collusion among the 14 individuals. The group, including Boon Vanasin, engaged in trading practices between February 18, 2022, and August 28, 2023, over 369 trading days. These practices involved placing buy orders to artificially inflate prices, submitting multiple bid orders to obstruct other investors, and executing matched trades among themselves. Such actions misled the public regarding the securities’ trading price or volume and aimed to distort normal market conditions for THG shares.
The 14 individuals’ actions violated Section 244/3 (1) and (2), in conjunction with the presumption under Section 244/6 of the Securities and Exchange Act B.E. 2535, and Section 83 of the Criminal Code, or Section 244/3 (1) and (2) in conjunction with Section 315 of the Securities and Exchange Act, punishable under Sections 296, 296/1, and 296/2 of the Act. Consequently, the SEC has filed charges with the ECSD for further legal proceedings.
Additionally, the SEC has notified the AMLO, as these offenses are considered unfair practices in securities trading and qualify as predicate offenses under the Anti-Money Laundering Act. Following the charges, the case will proceed through investigation by police officers, prosecution by the public prosecutor, and trial by the court. The SEC will continue to monitor the case’s progress and collaborate with relevant agencies to enforce the Securities and Exchange Act.