PUBLISHED: 25 Jun 2024 at 04: 00
The Department of Special Investigation ( DSI) has pressed charges against Chanin Yensudchai, former CEO of the Stark Corporation, including money laundering and forging documents.
DSI acting director Yutthana Praedam said that the other charges are negligence, fraud, embezzlement and violating the Securities and Exchange Act, BE 2535 ( 1992 ).
Mr Chanin denies the claims thus much, said Pol Maj Yutthana.
The DSI may function with the Anti-Money Laundering Office on any exchanges Mr. Chanin made while escaping the arrest warrant outside, with the DSI concentrating on the criminal cases and Amlo concentrating on the legal ones, according to Pol Maj Yutthana.
Those who accept Mr Chanin’s wealth and possessions will be accused of wealth trafficking, said Pol Maj Yutthana.
Wirun Chanthananan, chairman- standard of the Office of the Attorney General’s Department of Special Litigation, said that a attorney submitted his situation to the Criminal Court on Monday.
Mr Chanin is the latest to become accused in the Stark situation, joining 11 people, including five firms, according to Mr Wirun.
No single showed up on Monday to help him out of jail.
Mr Chanin was detained at Bangkok Remand Prison, a resource said.
According to the cause, the situation severely damaged both the nation’s economic system and individuals.
One of the biggest corporate frauds in recent years is the accounting and embezzlement scandal at SET-listed Stark, which cost at least 4, 000 investors and estimated$ 14.7 billion in damage.
About 50 incident victims gathered in front of the Attorney General’s Office on Monday to observe Mr. Chanin.
However, they did n’t get to him because the police were worried about his safety, so officers brought him right to the court.
Mr. Chanin, who had fled Thailand for more than eight times, arrived on Sunday and was immediately taken by DSI officials to its office.
Pol Lt Col Chakkrit Wisetkhetkan, chairman of the DS I’s Bureau of Financial- Banking Crimes and Money Laundering, said that Mr Chanin’s investigation was done within two days after his arrival at the DS I’s company.
According to him, the questioning process mostly followed the Securities and Exchange Commission’s recommendations for the case investigation, with the focus being on the Money Laundering Control Act and the Securities and Exchange Act, BE 2542 ( 1999 ).
He added that Mr Chanin’s attorney, Ruangsak Suksiangsri, had sent related files to the authorities prior to the conference.
After external auditors noticed disparities between reported numbers and real economic performance, the scandal was made public at the beginning of next year.
Eventually, it was discovered that Stark executives had planned a plan to give investors and stakeholders a false economic outlook.