Yesterday, I told about the actions to solve the bankruptcy crisis of the Swiss government and the Swiss central bank. It took only 2 days, from Friday afternoon to Sunday afternoon, to complete. by the Swiss government and the Swiss National Bank UBS Bank acquisition of credit suisse bank All for just CHF 3 billion, about $3.25 billion, and the Swiss money market regulator also announced a 16 billion franc levy on Credit Suisse's Additional Tier 1 (AT1) debentures. Approximately 17,270 million US dollars deadpan triggered a curse from the European and US capital markets Well-known US funds lose billions of dollars, such as PIMCO, BlackRock, Invesco.
The actions of the Swiss government and the Swiss National Bank this time have completely destroyed the credibility of Swiss commercial banks, even the European Central Bank will not accept it. From now on, who will deposit or invest in Swiss banks?
Buying Swiss bonds would have to think hard.
The risk escalated
Write about the speedy solution to the financial crisis of
swiss national bank
and would like to recount
Solving the stock manipulation case of the Thai Stock Exchange
It took less than 100 days, considered the fastest solution to the stock manipulation case in the Thai capital market.
In the past, the prosecution of stock manipulation or fraud in the stock market
It took ten years to investigate and prosecute.
Until the case is over or the offender is punished
Corrupt funds were completely drained.
Despite winning the case, there was no compensation for the victims.
In this regard, the Thai capital market has requested the Ministry of Finance to amend the law to speed up the prosecution, for example, 3 months and 6 months must end, like the case of manipulation or fraud in the United States and Europe.
will freeze the money to pay back the victims
But did not receive a response from the government 8 years ago, this case is a special case that must be mentioned.
The case that I will tell you about is
the case of MORE stocks or More Return,
which has unusual trading between 10-11 November 2022, the next day, the Stock Exchange of Thailand together with a group of damaged securities companies.
Association of Thai Securities Companies
Quickly check all the information.
and coordinate to
Office of the Anti-Money Laundering Commission (AMLO) that the trading of More shares was unusual.
Believing that there will be fraudulent behavior, so ask the AMLO to investigate.
This allows securities companies to suspend transactions of suspicious customers before 14 Nov. The SET has banned the trading of MORE stocks and coordinated with
Economic Crime Suppression Division (ECD) for further examination
From further investigation, it was found that
Unusual More Stock Trading Transactions
may be considered an offense under the law
may cause damage to investors in a wide range
SET
therefore banned the trading of MORE stocks on November 15-18, while the securities companies that were damaged
Filed a complaint with the EDS asking to investigate and prosecute those involved in the unusual trading of More shares. Nov. 21-22 AMLO ordered to freeze assets of Mr. Aphimuk Bamrungwong with a total of 36 items. worth 5,316 million baht for 90 days at the end of November
SET
Submitting an investigation report on the offense of price manipulation of More securities to the SEC to prosecute the offenders.
The prosecution was swift. February 7, 2023, “AMLO sent the prosecutor to the Civil Court to seize or freeze the property of Mr. Aphimuk and others. Feb. 10, the SEC accused Mr. Aphimuk and others. 18 persons involved in creating the price of securities MORE Offenses under the Securities Act February 16, the prosecutor for Special Case 2 filed a petition with the Civil Court requesting an emergency investigation.
On the same day, the Civil Court ordered the temporary seizure and freezing of assets related to the offense totaling 4,470 million baht.
When the case is over, the property will be returned to the victim.
In total, it took less than 100 days.
It is considered the fastest stock manipulation lawsuit in Thailand ever.
"The Wind Changes Direction"