The SEC has ordered civil penalties against three wrongdoers for jointly creating price or trading volume in the shares of Food and Drinks, or F&D, between August 9, 2022 and March 8, 2023, with total payments of 6.80 million baht, along with prohibitions on buying or selling securities or derivatives and on serving as a director or executive. The three wrongdoers are Mrs. Sompong Srisuphornwong, Miss Peechaya Krimwongrat, and Mr. Peerapon Prasertchaikul, who had personal connections to an intermediary who has since died. Investigators found trading orders that were coordinated and mutually supportive, including pushing prices higher, dominating bid or offer orders, splitting orders, and matching trades with themselves, as well as submitting orders before the close to push up the closing price, causing the price and trading volume of F&D shares to deviate from normal market conditions. The Civil Penalty Consideration Committee resolved that Mrs. Sompong pay a total of 803,314.66 baht, Miss Peechaya pay 1,057,387.16 baht, and Mr. Peerapon pay 4,940,324.66 baht. All three are banned from buying or selling securities or derivatives for 11 months and from serving as a director or executive for 22 months. If they do not consent, the SEC will ask public prosecutors to file a case with the Civil Court to determine the maximum penalty under the law, with the fines and disgorgement of benefits remitted to the Ministry of Finance as state revenue.
Food and Drinks Public Company LimitedSEC imposed civil penalties on three individuals for manipulating F&D's share price and trading volume, a regulatory enforcement action tied to the stock.
