PUBLISHED : 12 Aug 2023 at 04:00
The Department of Special Investigation (DSI) has frozen a bank account worth 220 million baht belonging to scandal-hit Stark Corp’s former chairman Chanin Yensudchai, DSI spokeswoman Pichaya Tarakornsanti said yesterday.
“The DSI has frozen another account of Mr Chanin’s from Credit Suisse Bank, and this will be used to compensate victims,” Ms Pichaya said.
The DSI has also frozen real estate under Mr Chanin’s name. She said that the Department of Lands is reviewing the land details and values.
Mr Chanin is accused of financial misconduct, and his whereabouts abroad are unknown.
The DSI has requested Interpol issue a red notice for him and has informed the Ministry of Foreign Affairs to revoke his passport, Ms Pichaya said.
The Office of the Securities and Exchange Commission (SEC) filed charges with the DSI, accusing Stark Corp and four of its subsidiaries and five individuals of financial misconduct.
The individuals and companies are accused of colluding with others to produce false statements for Stark and affiliates during 2021 and 2022.
They are also accused of concealing details about the company’s accounts and debenture sales, including a planned investment in German firm Leoni AG.
Among the individuals, Stark’s largest shareholder Vonnarat Tangkaravakoon has acknowledged but denied his charge on July 26.
The DSI is reviewing the testimonies of former chief financial officer Sathar Chantrasettalead and his secretary Yosboworn Amarit.
The DSI has sent a summon to another former executive Kittisak Jitprasertngam to acknowledge a charge next week.