Suspension of two senior Finance Ministry officials due to suspicion of insider trading.
The SEC has raised suspicions of insider trading by the directors-general of the Treasury and Comptroller-General departments of the Finance Ministry, in connection with the purchase and sale of Bangchak Corporation shares. Chamroen Phothiyod and Kulaya Tantitemit both bought and sold shares while the company was in the process of acquiring a stake in Esso (Thailand).
Chamroen admitted to the media that he was offered 300,000 shares and later bought another 300,000 before selling 150,000. Kulaya admitted that she was offered the shares and bought 300,000 before asking a securities company to sell them all. The SEC’s report has been acknowledged by the Finance Ministry and the two directors have reported the purchase and sale of the shares to the ministry. Both insist that they did not engage in insider trading.
