Wed, September 9, 2009 : Last updated 18:55 hours
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SHARE MANIPULATION
SEC fines 3 persons for Focus share manipulation
Anucha Sihanatkathakul, Saksin Khongkhanont and Chaiwit Chuensirivej are fined for Bt1.3 million for manipulating Focus Development and Construction Plc's share price, according to the Securities and Exchange Commission.
The SEC said in a statement that during October 5-29, 2004, when FOCUS was first traded in the Market for Alternative Investment, Anucha - as CEO of FOCUS and deputy CEO of Syrus Securities which was FOCUS's underwriter - ordered Saksin to create false transaction orders. Saksin was then a marketing officer of Syrus Securities. He used accounts of Chaiwit and others to create the false orders.
Anucha and Saksin were fined Bt500,000 each while Chaiwit was fined Bt333,333. Anucha and Saksin no longer hold any position in the securities company.
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