The SEC accuses three former directors and executives of STARK and their associates for selling shares based on inside information.
The year 2023 has been a turbulent one for the Thai stock market, as several scandals, defaults and volatility have shaken investor confidence and prompted regulatory reforms.
Stark Corporation, a wire and cable manufacturer, has been involved in a major financial scandal. Executives and subsidiaries of the company are accused of doctoring financial statements, engaging in fraud, and money laundering.
The fraud has resulted in an estimated financial damage of 14.78 billion baht and has affected nearly 5,000 investors. The scandal has raised concerns about the competence of auditors and the slow response of law enforcement authorities, undermining investor confidence in the market governance.
SEC Alleges Insider Trading
The Securities and Exchange…
