Bangkok: The Stock Exchange of Thailand (SET) is hopeful for a resurgence in capital market confidence following the incarceration of several individuals involved in the MORE stock case. Mr. Rongrak Panapavuttikul, Deputy Managing Director of the Stock Exchange of Thailand, shared recent developments in the legal proceedings concerning the More Return Public Company Limited.

According to Thai News Agency, the prosecution has escalated with 28 out of 42 suspects being presented to the Criminal Court on allegations of stock manipulation, fraud, and organization of criminal activity. The court rejected bail requests, leading to the immediate imprisonment of these individuals. The court’s decision was influenced by the significant economic and social repercussions linked to the case.

The initiation of court proceedings serves as an indication that offenses within the capital market are being taken seriously by all involved agencies, with strict law enforcement anticipated to restore confidence. The enforcement of legal measures is expected to deter potential offenders, reinforcing trust within the market. Meanwhile, the Department of Special Investigation (DSI) and prosecutors are working on bringing the remaining 14 suspects to trial.