The Central Unlawful Court for Corruption and Misconduct Situations yesterday sentenced a former executive of real estate property developer Krisdamahanakorn plus five others to 20 years in jail each for money washing in connection with the Krungthai Bank (KTB) loan scandal.
According to prosecutors, among September 2003 plus December 2004 the particular six were complicit in money laundering involving a loan associated with 10. 4 billion baht from KTB. The six defendants were Krisdamahanakorn proprietor Wichai Krisdathanon; their son, Ratchada Krisdathanon; Bancha Yindee, an ex executive of RK Professional Co and Golden Technology Commercial Park Co, both of which are the carrier’s affiliates; Phetcharat Thepsamritporn, a former secretary of Ratchada; Paphop Saroma, a former executive from the two affiliates along with Grand Computer and Communication; and Thirachote Promkhun, a staff member of Krisdamahanakorn.
The first three defendants used their businesses to transfer money and receive transferred money, violating a law on offences committed by state officials and the Securities and Exchange React.
The particular six defendants also used Grand Pc and Communication and Grand Satellite Conversation Co to exchange money and receive transferred money. The particular court found the six defendants guilty of violating the Anti-Money Laundering Act as well as the Criminal Code.
Wichai was found guilty of 133 offences and sentenced to 860 years in jail, while the others were found guilty of 5 to 52 counts each and provided sentences ranging from 37 to 416 yrs in jail.
However , because the Anti-Money Laundering Take action stipulates a jail sentence of a maximum of 10 years for each offence, the maximum jail sentence for each of the six defendants was reduced to 20 years.
The first plus third defendants were also ordered by court to pay a lot more than 8. 8 billion dollars baht instead of having their assets confiscated, while the four other people were ordered to pay for amounts ranging between 5. 8 mil baht and 2 . 7 billion baht instead of having their particular assets seized.