Bangkok - Thai authorities over the weekend arrested two members of the securities industry for posting false information about the king on internet websites during last month's stock market crash, media reports said Monday.

Thiranant Wipuchanin, 43, a former executive director of UBS Securities Co, was arrested at Suvarnabhumi International Airport after returning from a trip to Vienna and charged with violating article 14 of the 2007 Computer Offence Act, the Bangkok Post reported.

Katha Pajajiriyapong, 37, an employee of Seamico Securities PCL, was arrested on the same day on a similar charge of posting false information on the internet that damaged national security and the monarchy.

On October 14 to 15 the Stock Exchange of Thailand (SET) index fell 7 per cent on rumours that Thai King Bhumibol Adulyadej was seriously ill.

King Bhumibol, 81, was admitted to hospital on September 19 for inflammation of the lungs. According to the Royal Household he has fully recovered, albeit slowly, and will be released from hospital soon.

Finance Minister Korn Chatikavanich ordered police to investigate who was responsible for initiating the rumours about the king's health that sparked a selling panic.

Thiranant has reportedly told police that she translated foreign stock reports into Thai and posted them on www. prachatai. com, a website deemed critical of the monarchy.

Katha posted similar information on www. sameskybooks. org, another website that is known for its anti-monarchy slant.

Both suspects face a possible sentence of five years in jail and a 100,000-baht-fine (2,994 dollar) if found guilty. (dpa)