The chairman and founder of stock-listed seafood conglomerate Thai Union and eight others have been ordered to pay steep fines for insider trades that allegedly took place in 2017, the Thailand Securities and Exchange Commission (SEC) announced Friday.

The SEC said Friday that Kraisorn Chansiri, founder of the $4 billion (€3.6 billion) group, illegally purchased shares in late 2017 based on insider information about the group's third-quarter earnings, which rose sharply from the second quarter and the third quarter the prior year.