The SEC is moving forward to investigate the STARK case on several counts, including auditors, stock manipulation, and insider fraud.

The SEC is continuing to investigate the STARK case on several counts, including auditors, stock manipulation, insiders using authority under Section 267 of the Securities Act to freeze assets for the past 10 years after finding clear evidence that assets may be transferred. Confident that the case will proceed to the end after working with DSI from the beginning.

Mr. Thawatchai Thipayasophon, Acting Secretary-General Office of the Securities and Exchange Commission (SEC) Revealing progress in investigating wrongdoing and most recently accusing Stark Corporation Public Company Limited (STARK), directors, former directors and former executives of STARK, totaling 10 people, with the Department of Investigation. Special (DSI) case of jointly committing or agreeing to make false statements in the documents of STARK and its subsidiaries during 2564-2565 in order to deceive any person and disclose financial statements in the registration form for the offering of debt instruments and Draft prospectus believed to have embellished financial statements with damages according to the financial statements of approximately 38,000 million baht, the SEC is still continuing its investigation in terms of auditors, price creation (stock manipulation) and the use of inside information (insiders). which if information and details are ready We will see accusations on various issues follow.

In exercising the power of the SEC in accordance with Section 267 of the Securities and Exchange Act, it ordered the seizure of assets of 10 offenders, both organizations and individuals. This is the first use of this power in 10 years, but this law has been in force for more than 30 years after evidence was found that believed there would be embezzlement of assets. and all evidence documents have been collected.

However, according to the power of the SEC, it can order to freeze assets for 180 days, but the company is still able to conduct transactions. and conduct business as usual, such as paying employees' salaries and trade as usual The ban on leaving the country lasts 15 days and can be extended.

Deputy Secretary-General of the SEC said that the SEC Office I am confident in all the documents and information that have been collected and have filed a complaint with DSI that this case will go to the end or go to court. This is because the SEC has been working with DSI since the beginning of the movement.

“The STARK case has many related offenses. The punishment will be harsher and include a prison sentence of 10 years or more.” Mr. Thawatchai said.

However, Mr. Thawatchai said that at this time he could not specify many details because it is in the process of enforcing the law. It will work with various agencies including DSI, the Anti-Money Laundering Commission (AMLO), as well as the Stock Exchange of Thailand (SET).

Regarding prosecution against the auditor, the SEC is divided into two parts: the auditor STARK under the authority of SEC to supervise listed companies that can be audited immediately Which is currently in the process of examining the evidence and in the case that the auditors of STARK's subsidiaries and related companies outside the Stock Exchange of Thailand, the SEC will perform the audit as well. Which, if found guilty, will coordinate with the professional council to take further action.