Thai private banking client fined US$2.6 million for share manipulation resulting in four-fold price increase

21 August 2012 | 1 minute read

Prasong Suwiwatthanachai, a Thai private banking client, recently received an 81 million baht (US$2.6 million) fine by regulators for manipulating share prices on the Stock Exchange of Thailand. Following a tip-off from the exchange, Thailand’s Securities and Exchange Commission (SEC) launched an investigation that led to the discovery that Prasong had used 14 Singapore securities trading accounts to profit from…

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