Mr. Asadej Kongsiri, President of the Stock Exchange of Thailand (SET), stated that the criminal case relating to More Return Public Company Limited (mai: MORE) represents the rising trend of the criminal stock market crime that is becoming more complex and affects a wide range of relevant personnel. Taking action against this act would require strong cooperation with related agencies, representing the significance and necessity of collaborative integration between the offices in the judicial process and the market sector.
In the MORE’s cases, besides managing the exchange, SET also acts as an intermediator, cooperating with the offices in the judicial process to help investigate, gathering evidence, exchanging information between various offices, as well as informing the related personnel and the investors regarding the legal progress to enhance confidence in the nation’s stock market.
Mr. Asadej stated that to prevent such cases in the future, SET has improved its management measures by adjusting its regulations related to the stock exchange. These measures include the auto pause measure, the minimum resting time measure, the disclosure of securities placed as collateral for debt repayment in margin accounts and the disclosure of information of investors who make an inappropriate exchange to all securities companies. These processes would help the market manage risks and prevent such action in a timely manner.
Mr. Pichet Sithi-Amnuai, President of the Association of Thai Securities Companies (ASCO), stated that the office has been assisting the affected securities companies. Furthermore, the past two years, the office has been introducing measures to the overseeing offices to remove risks and prevent such action from ever happening again. One such action is the establishment of the Securities Data Exchange Platform (SDEP). This decentralized platform will allow securities companies to access the data of risk customers and would be operated on February 1, 2026.
Police Lieutenant General Jirabhop Bhuride, Commissioner of the Central Investigation Bureau (CIB), stated that MORE’s case is a complex economic criminal case since the offenders have expertise in the stock market and used electronic systems to help commit crimes, impacting the stock market and causing widespread damage.
The bureau has assembled experts from several offices and works closely with various parties, including SET, securities companies, SEC, AMLO, and DSI to contain the damage. As a result, 42 individuals have been charged. The court ordered the return or compensation of assets to ten affected securities companies of about THB 4.5 billion for the fraud case, and THB 129 million for an unlawful act regarding secret society. Additionally, the court also ordered a fine worth THB 226 million for the stock manipulation case.
Pol.Lt.Gen. Jirabhop Bhuride stated the prosecutor’s office has filed these 42 individuals with criminal charges, while some would face additional charges. Currently, the process is in the state of summoning the suspect. As for the individuals who fled the country, the police suspect that they are now in neighboring nations and refuse to cooperate.
