PUBLISHED: 19 Apr 2025 at 03: 30
People of the Parliamentary Official Saving and Credit Cooperative are calling for an independent investigation into a 14-million-baht fraud, citing concerns that more people may get involved than the one person who is currently being investigated.
A source reported yesterday that the cooperative had just acknowledged inside fraud following an initial investigation that found a finance officer had committed financial misconduct.
The Cooperative Board terminated the individual without payment and lodged a grievance with Bang Pho police station. The event is now being looked into.
The committee assured members that the cooperative’s financial balance and personal accounts had not been impacted by the embezzlement.
However, according to a joint source, this guarantee has done much to alleviate skepticism among members.
Some users questioned the possibility of just one person being responsible for such massive fraud.
They cited internal controls that should have prevented illegal entry, which require two authorisation for monetary transactions and various levels of approval for disbursements.
One participant remarked,” If one person could pass all the checks, then there is a major flaw in the system.” ” It’s likely that others were conscious or involved.”
Some suggested that the fraud may have occurred over a number of years in smaller, regular amounts, leaving questions about oversight from senior team and accountants.
The source questioned the board’s decision to blame one staff member and suggested it might be a cover-up tactic to protect older figures.
Just an independent, third-party research could uncover the truth, they claimed.