'Siriwat Sandwich' joins PRINC/Sunan Srichantra stock manipulation gang

Those involved in the PRINC share manipulation include Mr. Satit Wittayakorn, Mr. Siriwat Worawuthikun, Ms. Phalabha Witayakorn, Ms. Payaw Chalship, Ms. Sompong Srisuphonong, and Ms. Vichaya Krimungrat.

All six individuals sent orders to sell PRINC shares in a manner that caused the price of the securities to rise. Between July 2017 and June 2018, they had a personal relationship. Financial path through stocks, businesses or through connections with related people

And work together by splitting fees in sending orders to sell PRINC shares in a way that creates prices. Misleading the public about the price or trading volume of securities. And sending trading orders continuously. The goal is to cause the price or trading volume of securities to deviate from normal market conditions, such as raising prices continuously. Switch to selling for intraday profit. And control the Bid order to achieve the closing price

The SEC orders Mr. Satit and Mr. Sirwat to pay a civil fine and reimburse the SEC's expenses for investigating the violations in the amount of 1,052,733 baht each. Mr. Satet is prohibited from trading securities or futures contracts for a period of 33.5 months and is prohibited from serving as a director or executive officer of a securities issuer or securities company therefor. Period of 67 months

Mr. Sirwat is prohibited from buying and selling securities or futures contracts for 28 months and is prohibited from serving as a director or executive of a securities issuer or securities firm for 56 months.

Ms Valappa was ordered to pay a fine of 287.24 million baht, Ms Payau to pay a fine of 81.53 million baht, Ms Sompong to pay a fine of 3.13 million baht, Ms Vichaya to pay a fine of 52.77 million baht and to prevent securities trading. Not to be a director or executive of a securities company or issuer of securities under the terms specified by the Securities and Exchange Commission.

PRINC Stock Manipulation Case The interesting thing is not the 426.79 million baht fine because although it is a large amount, but the AJ Advance Technology Public Company Limited, or AJA, stock manipulation case involving 40 people, led by Mr. Amorn Memano, the former CEO The company is the main shareholder. The Securities and Exchange Commission has filed a lawsuit to force it to pay fines totaling 2.3 billion baht.

But the interesting thing about the PRINC stock manipulation case is that there are famous people joining the stock manipulation movement. Mr. Satit and Mr. Sirwat also conspired to defraud investors of their funds.

Mr. Satit is the Chairman of the Board of Directors and one of the major shareholders of PRINC and his reputation is well known in the stock market. After the sale of the company's shares, Bumrungrad General Hospital Company Limited, or BH, 71.94 million shares, or 9.04% of the registered capital. To Kiatnakin Phatra Bank Group at 151.50 baht per share for a total of 10,900 million baht as of May 2022

People who own registered companies Hospital owner Having enough money to live as a billionaire Who would have thought that he would join the stock manipulation gang? Make a living by creating illusions to fool small investors get a few tens, a few hundred million baht

The fine, which the SEC required to be paid, could have been easily paid by Mr. Sattet. But the reputation was damaged. Be a stock trader how to clear it?

As for Mr. Sirwat Worightothikon, he has been in the stock market for about 40 years and was an executive director at a stock company. Before turning yourself into an investor they often claim to be investor representatives protecting the interests of small investors in the movement calling for solutions to the stock market problem and attending shareholder meetings of various listed companies.

Mr Sirwat's reputation rose after the 1997 Tom Yum Kung crisis as a property developer who was hit by the economic crisis. So in debt I had to go down and sell sandwiches. He announced that a company that produces and sells sandwiches will be listed on the stock exchange. But it did not achieve the goal of bringing in sandwich shares to raise money.

Mr Sirwat's fate in 1997 attracted worldwide attention until the BBC's media outlet came to interview him. The story of a disruptive businessman selling sandwiches was highlighted. It was turned into a movie

The portrait of Mr. Sirwat has been beautifully drawn. As a businessman fighting for life

But although he was in such dire straits that he had to sell sandwiches, Mr. Sirwat did not distance himself from the stock market much. He also appears at shareholder meetings of listed companies several times.

The image of Mr. Sirwat being the hero who struggles for a beautiful life. It has been around for many decades but joining the PRINC stock manipulation movement completely destroys the good image.