TPC manipulators fined for Bt2.17m
The Securities and Exchange Commission's Settlement Committee imposed a total fine of Bt2.17 million on Sermkirt Kangsathein, Wichian Ursiripant, and Pratheep Wongkulnit, as well as Prapat Itthichaisri and Nattida Ruckchopsanti, for manipulating the share price of Thai Plastic and Chemicals Plc (TPC).
The SEC probed the case and found that on October 3, 2012, Sermkirt, Wichian, and Pratheep had colluded to trade TPC shares through their own securities trading accounts and the accounts of Prapat and Nattida. The trading was done in the manner that inflated the share price and matched the trading orders within the group in concealment to mislead the public into believing that TPC shares were actively traded or TPC share price was changed. They also traded TPC shares on a continual basis, causing the share price to be inconsistent with the normal market condition. Prapat and Nattida aided and abetted the said actions by allowing the use of their trading accounts.