Following its investigation into the manipulation of MORE shares, the Securities and Exchange Commission (SEC) filed a complaint on June 29, 2023, with the Economic Crime Suppression Division (ECD) and AMLO against 32 individuals.
Among the accused was Apimook Bamrungwong, who allegedly conspired to manipulate the prices of MORE and MORE-R shares between July 19 and November 10, 2022. MORE-R refers to warrants or rights issues linked to MORE shares.
The court was told that Apimook used shares he already held as collateral for margin trading with the 11 brokers, enabling him to place orders for 1.5 billion MORE and MORE-R shares at the market’s opening on November 11, 2022, at 2.9 baht per share.