CP All chairman insists on his innocent in Siam Makro's share purchase

[webfact]

CP All chairman insists on his innocent in Siam Makro's share purchase



BANGKOK: -- CP All Plc chairman Korsak Chairasmisak has insisted on his innocence in the purchase of the shares of Siam Makro Plc before the company was taken over by CP All in a deal worth 189 billion baht.

Mr Korsak, two vice chairmen and a legal advisor of CP All, were fined a total of 33.3 million baht for insider trading by the Securities and Exchange Commission. Mr Korsak was fined the highest at 30.23 million baht.

Mr Korsak told the media on Thursday that he bought Siam Makro’s shares openly and honestly with his own money because he saw the share price climbing sharply.

He said he didn’t think his purchase of the shares was deemed insider trading.

However, he admitted that he agreed to accept the SEC’s ruling against him after the SEC ruled his share purchase an insider trading. He said the case would serve a valuable lesson for him.

Source: http://englishnews.thaipbs.or.th/cp-all-chairman-insists-on-his-innocent-in-siam-makros-share-purchase

-- Thai PBS 2015-12-04

[Thai at Heart]

Yeah right.

[Jessi]

I wish they would do something about the stock control at MAKRO.

[kannot]

smiling tunc

[mark131v]

Valuable lesson...yes, yes it is...

it's a lesson that if you are born into wealth here you can do what you want!!

in the event you are so stupid as to be caught then you will still get away with a slap on the wrist and no chance whatsoever of any jail time or proper punishment, mushroom pickers on the other hand......

[Orac]

He didn't know that the company he was chairman of was doing a 189b baht deal - is this an inactive post or something?

[BuaBS]

Oh man , Makro in full CP owned ? Time to buy less there.

[Johpa]

Oh man , Makro in full CP owned ? Time to buy less there.

It is only in your dreams that, when in Thailand, you can somehow avoid the vertical monopoly that is the CP Group.

The family that controls CP is the second scourge of the Kingdom.

[BuaBS]

Oh man , Makro in full CP owned ? Time to buy less there.

It is only in your dreams that, when in Thailand, you can somehow avoid the vertical monopoly that is the CP Group.

The family that controls CP is the second scourge of the Kingdom.

Avoid 7/11 , Makro and as a vegetarian obviously all meat and eggs & milk from them, I think you can avoid CP for a big part.

[WaiLai]

Until the "summary" death penalty for such offences is implemented these types of people will rub their arse in your face and giggle about it amongst their peers

[ebean001]

Buying the stock with his own money seems to make him even more guilty

[Pib]

I'm just a simple businessman....I didn't know in advance my company would be buying that other company causing its stock price to go up...it's all a misunderstanding...I'm an honest, really rich person.

[Tatsujin]

That's a very small slap on the wrist ... not even worth the effort and certainly no deterrent to anyone.

[Prbkk]

Everything wil be ok. These are the "good people" and they can be trusted to act in the national interest.

[mike324]

only reason why he accepted is probably because he profited more than the fine...a more fair ruling would be jail sentences like in western countries

[ratcatcher]

Oh man , Makro in full CP owned ? Time to buy less there.

It is only in your dreams that, when in Thailand, you can somehow avoid the vertical monopoly that is the CP Group.

The family that controls CP is the second scourge of the Kingdom.

And first prize goes to whom?

[ALLSEEINGEYE]

so he was fined 30 million baht, but how much did he actually make off this deal? I wonder if the fine even matched that amount. Do we have these numbers somewhere?

Martha stewart got jail time for much less than this but this elite piece of crap thief gets a slap on the wrist.

No justice in Thailand.

Where is the red bull punk???

[Bluespunk]

"He said he didnt think his purchase of the shares was deemed insider trading."

Anyone else smell burning pants?

[billphillips]

I would have more concerns if he acquired the shares with someone else's money.

[Alration]

so he was fined 30 million baht, but how much did he actually make off this deal? I wonder if the fine even matched that amount. Do we have these numbers somewhere?

Martha stewart got jail time for much less than this but this elite piece of crap thief gets a slap on the wrist.

No justice in Thailand.

Where is the red bull punk???

Martha Stewart committed a crime in Thailand? What did she get jailed for here?

[elgordo38]

I would have more concerns if he acquired the shares with someone else's money.

You could be onto something here. Banks are paying almost no interest. It could be your money and mine that generates almost no interest. Big business in the west is doing this so why not here. Monkey see.

[elgordo38]

Ah yes the Pak Man of big business gets caught with his hand in the cookie jar.

[CantSpell]

only reason why he accepted is probably because he profited more than the fine...a more fair ruling would be jail sentences like in western countries

He just stole millions and apologized, all is ok, he didn't steal no mushrooms, no need to go to prison

[TallGuyJohninBKK]

Only in Thailand with Thai PBS news.

The CP All exec is fined 30 million baht by the Thai Stock Exchange for insider trading.

And the lead/headline of the ThaiPBS report is the guy insisting on his innocence -- even though later in the same report it acknowledges he has agreed to accept the fine.

Really first class Thai news reporting there...

[scorecard]

I'm just a simple businessman....I didn't know in advance my company would be buying that other company causing its stock price to go up...it's all a misunderstanding...I'm an honest, really rich person.

Reminds ... 'put she's really a nice girl...'

[metisdead]

Off topic posts have been removed.

[Prbkk]

And the consequence: CP bond raising is said to be facing difficulty as institutional investors are unhappy with the inaction of The Board in relation to these matters....according to a report in the BP today. And some of these people are involved in the education reform process, including its focus on ethics. Joke.

[SABloke]

Oh man , Makro in full CP owned ? Time to buy less there.

It is only in your dreams that, when in Thailand, you can somehow avoid the vertical monopoly that is the CP Group.

The family that controls CP is the second scourge of the Kingdom.

And first prize goes to whom?

Defamation laws

[Basil B]

I would have thought they would have been barred as company directors for a substantial amount of time...