Bangkok: The Securities and Exchange Commission (SEC) has filed a civil lawsuit against three individuals accused of manipulating READY shares, seeking a fine of 279 million baht.

According to Thai News Agency, the SEC has requested that prosecutors take legal action against Mr. Thaweerat Prungpattanasakul, Ms. Pajaree Sammatkijborihan, and Ms. Phichchada Sirithong. The individuals are accused of manipulating the price or volume of shares in Ready Planet Public Company Limited (READY). The SEC is seeking civil penalties totaling 279,673,856.10 baht, as well as interest. Additionally, they are pursuing a ban on the individuals serving as directors or executives at the maximum level allowed by law.

The Civil Penalty Consideration Committee (CPSC) had previously decided to impose civil penalties on the three offenders, including a total payment of 233,113,379 baht. This amount covers civil fines, compensation for benefits received or expected, and reimbursement of expenses incurred by the SEC during the investigation. The penalties also included an 8.5-month prohibition on trading in securities or futures contracts and a 17-month prohibition on holding executive positions in securities companies.

The offenders have refused to comply with the SEC’s prescribed civil penalty measures, leading to the SEC’s decision to escalate the matter to the Civil Court. In addition to financial penalties, the SEC is requesting a ban on the offenders from trading in securities and futures contracts and from serving as directors or executives.

The SEC has also referred the case to the Anti-Money Laundering Office (AMLO) for further action. The alleged unfair securities trading offense is considered a fundamental offense under the Anti-Money Laundering Act of 1999.