Thai Police Arrest Two Accused of Violating Internet Laws

[WannaGo]

Wow, they really don't mess around with these things, do they?

BANGKOK -- Thai police arrested two people on suspicion of using the Internet to spread rumors about the health of the country's 81-year-old king that sent stock prices tumbling last month.

The two -- both of whom have worked in the securities industry -- were charged Sunday with violating Thailand's Computer Crimes Act by "feeding untrue information through a computer system which undermined the security of the nation," a Thai police spokesman said.

Thailand's Stock Exchange Index fell a combined 7.2% on October 14 and 15 as rumors circulated about the health of King Bhumibol Adulyadej, the world's longest-serving monarch. He had been admitted to the hospital with pneumonia-like symptoms and is still there. Authorities have said his health is improving.

Teeranu Wipuchanin, a 43-year-old former stock trader, was arrested at Bangkok's international airport after returning from a trip overseas. She told reporters after her arrest that she translated an article from financial news and data provider Bloomberg LP, which attributed the market's decline to rumors about the king's health, and posted it online. "Everybody on that day wanted to know what caused the market to fall," Ms. Teeranu said. A spokeswoman at Bloomberg's corporate headquarters in New York didn't immediately respond to a request for comment on Sunday.

Police also arrested Bangkok-based stock broker Kata Pajajariyapong, who couldn't be reached for comment. Both were charged under Thailand's computer-crimes law and face up to five years in prison and a $3,000 fine each if convicted.

[WannaGo]

Sorry. Forgot this link to the rest of the story.

[lvdkeyes]

I wonder how much money was made by manipulating the market.

[Thaifan]

I wonder how much money was made by manipulating the market.

So true!!! I agree the telling information here is that they were involved in the Stock Exchange. If they had been ordinary people I might have felt sorry for them being treated harshly but no - they deserve all they get!!!

[WannaGo]

A third person arrested, but still not clear whether the people involved actually made a profit. However, this story says Thai investigators are looking into "possible stock trading irregularities."

BANGKOK, Nov 4 (Reuters) - Police in Thailand said on Wednesday they had arrested a third person on suspicion of spreading rumours about the health of the country's 81-year-old king that triggered a slide in stock prices.

Somjet Itthiworakul, a 38-year-old snooker club owner who also organises trips to border casinos, was arrested late on Tuesday in Chon Buri province, 100 km (62 miles) east of Bangkok, after posting comments on Thai website Prachatai.

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[Wino]

The article said, “Teeranu Wipuchanin, a 43-year-old former stock trader, was arrested at Bangkok's international airport after returning from a trip overseas. She told reporters after her arrest that she translated an article from financial news and data provider Bloomberg LP, which attributed the market's decline to rumors about the king's health, and posted it online. "Everybody on that day wanted to know what caused the market to fall," Ms. Teeranu said. A spokeswoman at Bloomberg's corporate headquarters in New York didn't immediately respond to a request for comment on Sunday.â€

That sounds quite innocent to me. She is a former stock trader. She merely translated a Bloomberg financial new article. In this case, it seems quite innocent to me.

[WannaGo]

According to Reporters Without Borders, the three of them just posted news stories after the market fell linking the decline to rumors about the king.

“We call for the charges against these three Internet users to be dismissed,†Reporters Without Borders said. “Such accusations are baseless and violate the right to report an economic event after it has taken place. Explaining that the stock exchange fall was linked to the king’s health harms neither the king nor national security.â€

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[Wino]

I bet Teeranu Wipuchanin and others still receive jail time. Perhaps the king will pardon them?