Search Results for: financial misconduct
- Business News
Thai regulators intensify fight against illegal securities trading
Stock market regulators intensified their collaboration with the Anti-Money Laundering Office (AMLO) to combat illegal securities trading, aiming to dismantle criminal economic activities and boost investor confidence in the Thai capital market. A memorandum of understanding (MoU) signed yesterday, August 26, between the Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET) marks a significant step towards…
- Thailand video news
Thailand Video News | German Tourist Falls to Death in Pattaya, Chinese Tourist Missing in Thailand Amid Ransom Demand
Today in Thailand video news, Alex and Jay dive into news happening across the country. A German tourist has fallen to his death from a hotel near Pattaya Beach. A father has received a ransom demand of 5 million yuan after his daughter went missing in Thailand last week. Two people tragically passed away in Phetchaburi due to a motorcycle…
- Thailand News
Thai singer’s wife accused of embezzling 60 million baht
The wife of a well-known Thai singer has been accused of embezzling 60 million baht from her husband’s company. She had previously appeared on a popular TV show claiming to be a victim of infidelity. Decha Kittivittayanan, head of the Lawyers for Relief network, disclosed in a live chat on Facebook that a well-known singer’s wife has been involved in…
- Thailand News
Backlash over Stark scandal suspect’s hospital transfer
The Department of Corrections (DoC) faced heavy criticism yesterday for transferring a key suspect in the Stark Corporation scandal to the Police General Hospital (PGH), as victims of the financial misconduct accuse officials of granting him special treatment. Dozens of investors affected by the Stark Corporation fraud case petitioned Justice Minister Tawee Sodsong, seeking transparency after discovering that Vonnarat Tangkaravakoon,…
- Thailand News
DSI freezes 220 million baht in Stark Corp leader Chanin’s scandal
The Department of Special Investigation (DSI) has placed a freeze on a staggering 220 million baht held in the bank account of Chanin Yensudchai, the erstwhile chairman of the beleaguered Stark Corp. According to DSI spokeswoman Pichaya Tarakornsanti, the action is part of a broader measure to offer compensation to victims in light of the ongoing scandal. “The DSI has…
- Thailand News
Interpol sought over Stark Corp scandal as losses mount to 38 billion baht
Interpol is currently sought by the Department of Special Investigation (DSI) to issue a red notice for the pursuit of the former chairman of a company known as Stark Corp, on charges of financial misconduct. The DSI issued this plea after the chairman did not adhere to the call to report to the DSI for acknowledging charges related to Stark’s…
- World News
Carlos Ghosn, ex-Nissan chief, walks out of DW’s Conflict Zone interview
Ghosn, who was one of the most powerful men in the global car industry, abruptly cut short an interview with DW’s Conflict Zone host Tim Sebastian when he disliked the host’s line of questioning. The former car industry executive, who headed an automotive alliance including Nissan, Renault and Mitsubishi, said Sebastian was speaking in “bad faith” after he pointed out…
- Bangkok News
UNAids staffer who reported sexual assault at a Bangkok hotel loses dismissal case
A former policy advisor for a United Nations programme fighting AIDS, who claims she was sexually assaulted in a Bangkok hotel elevator by a then-senior official for the agency and was later fired after going public with the accusations, lost her appeal against her termination from UNAids. The 41 year old Martina Brostrom from Sweden says she was sexually assaulted…
- Thailand News
DSI pursues charges over 1 billion baht fraud at Ananda subsidiary
The Department of Special Investigation (DSI) initiated legal proceedings against former board members of a subsidiary of Ananda Development for violations of the Securities and Exchange Act, following the discovery of over 1 billion baht in damages. Through its Financial and Money Laundering Case Division, the DSI submitted case file No. 7/2021 yesterday, September 24, regarding Ananda Development Public Company…
- Thailand News
Massage parlour scandal sparks Thai Highways Department probe
The Thai Highways Department is scrambling to investigate claims that Wirtgen Thailand Ltd, a subsidiary of John Deere’s parent company, made improper payments to its officials and the Royal Thai Air Force (RTAF). The shocking allegations suggest that massage parlours, cash, and luxury trips were used to sweeten government deals. Director-General Sarawut Songsivilai announced yesterday, September 11, that he has…
- Thailand News
Major bribery ring in highways department uncovered
Thai police uncovered a major bribery ring involving senior officials from the Department of Highways, with evidence showing over 126 million baht in suspicious transactions. The funds were directly transferred to personal bank accounts and involved monthly payments as high as 100,000 baht. Police raided the residence of 57 year old Noppadol, who serves as the senior mechanical engineer and…
- Thailand News
Prosecutor defends involvement in Red Bull heir hit-and-run case
A former senior prosecutor has revealed he assisted Red Bull heir Vorayuth Yoovidhya in the 2012 hit-and-run case due to a compassionate gesture, as the driver was a friend of his niece. Chainarong Saengthong-aram, one of eight defendants accused of mishandling the high-profile incident that resulted in the death of a policeman, allegedly underreported the speed of Vorayuth’s Ferrari from…
- Thailand News
Tak Bai tragedy court case to be decided next month
A lawsuit against nine former top officials implicated in the Tak Bai tragedy is set for consideration by the Narathiwat Provincial Court next month. The lawsuit, filed on April 26 by a group of 48 plaintiffs, seeks justice for the victims and their families who have seen no action taken by police or prosecutors beyond financial compensation. The plaintiffs, consisting…
- Thailand News
State officials implicated in bid-rigging scheme for rubber latex firms
The Department of Special Investigation (DSI) uncovered the involvement of state officials in bid-rigging for rubber latex companies in 10 provinces, leading to significant financial losses for the country. The investigation has been forwarded to the National Anti-Corruption Commission (NACC) for further action. Last year, a group of rubber latex traders submitted a letter to the prime minister, requesting an…
- Thailand News
PM Srettha to meet Malaysian PM for peace talks
Thailand Prime Minister Srettha Thavisin announced a high-stakes meeting with Malaysian Prime Minister Anwar Ibrahim in a southern border province on August 3, though the exact location remains undecided. The Thai premier hinted that Yala, Pattani, or Narathiwat could be the chosen venue. “My team is making arrangements.” While the specifics of the agenda are under wraps, the Bangkok-born PM…
- Thailand News
Former prison warden found guilty of corruption in Thailand
The National Anti-Corruption Commission (NACC) has determined that the former warden of Prachuap Khiri Khan Provincial Prison is guilty of corruption related to the establishment of a housewives’ group to sell food and drinks within the prison, without the necessary permissions. NACC’s Provincial Director, Chutarat Luangpermsakul, disclosed that the commission decided the misconduct in public office, specifically accusing Sutin Chidchob…
- Retire in Thailand
What does the legal retirement age mean for older people in Thailand
As you delve into the complexities of Thailand’s ageing population and the impact of mandatory retirement age policies, you’ll find a fascinating interplay of factors at work. A significant issue that’s come under the spotlight is the health status of older people, which is increasingly seen as a crucial element in encouraging employment among older individuals. In-depth studies have utilised…
- Thailand News
Silencing the Voice: Pro-Thaksin outlet shuts down, sending shockwaves
A bombshell announcement rocks the media landscape as Voice TV, the longstanding bastion of pro-Thaksin views, announces it is shutting down. The board of Voice TV declared the end of its 15-year run, leaving some 100 journalists and staff members facing the axe. The abrupt closure has left tongues wagging, with no immediate rationale provided for the drastic move. Established…
- Thailand News
Bangkok school directors get 20-year sentences for bribery
The Central Criminal Court for Corruption and Misconduct Cases in Thailand handed down 20-year prison sentences to the former director and the former deputy director of Samsenwittayalai School. The two were found guilty of accepting bribes from parents, colloquially termed “tea money,” to secure their children’s admission to the school in 2017. Additionally, the court ordered the pair to pay…
- Thailand News
Thai cop accused of cheating on wife, impregnating teenage mistress
A Thai woman is seeking justice after her police sub-lieutenant husband cheated on her and impregnated his 17 year old teenage mistress. The police officer allegedly assaulted and threatened his wife to accept the polyamorous relationship as the teenager is seven months pregnant. The 55 year old Thai woman from the Isaan province of Roi Et told her story to…
- Thailand News
Central Thailand: Former officer arrested for 700,000 baht embezzlement from disability fund
The Department of Special Investigation (DSI) and the Anti-Money Laundering Office (AMLO) today arrested a former financial and accounting officer for embezzling over 700,000 baht from a fund dedicated to improving and developing the lives of disabled people. The individual in question, identified as Wilaiporn (surname withheld), has been accused of corruption and misconduct under section 1 of the Criminal…
- Thailand News
Chiang Mai MP refutes accusations of falsifying documents for party funds
Chiang Mai’s Move Forward Party (MFP) MP, Phattarapong Leelaphat, refuted accusations of falsifying documents to garner financial support from his party yesterday. This controversy was brought to light by the Democrat Party’s Tankhun Jittitsara on Wednesday, November 8. In response to the allegations, Phattarapong took to Facebook, dismissing the claims as baseless. The politician explained that most of the funds…
- Thailand News
MFP to challenge government amidst internal controversies
The Move Forward Party (MFP), the main opposition party in Thailand, is preparing to challenge the government in a general debate. Critics suggest this is a tactic to divert public attention from the party’s controversies. For the first time, the MFP is exercising its constitutional power to initiate a debate against the government, scheduled for early next year. Although the…
- Thailand News
Thailand’s AOC launched to tackle rising online scams
The Anti-Online Scam Operation Centre (AOC), a comprehensive service centre for victims of scam gangs, has been launched by Thailand’s Ministry of Digital Economy and Society (MDES), as stated by Minister Prasert Chantararuangthong. The AOC is designed to effectively reduce the number of online scams within a month, aiming to tackle the over 330,000 cybercrime cases reported from March 1…
- Business News
Thai SEC seizes Stark Corporation’s assets amidst false accounting claims
The Securities and Exchange Commission (SEC) of Thailand seized the assets of Stark Corporation and some of its key personnel due to accusations of false accounting. Excessive damages have ensued following this misconduct with Stark’s debts rising above 38 billion baht as believed by the regulators. The SEC has also frozen the assets of Vonnarat Tangkaravakoon, formerly the acting chief executive…
- Crime News
Thai police seize 1,000 million baht assets in embezzlement case linked to ‘Boy’
Thai police have seized assets worth over 1,000 million baht (US$28,800,000) from a suspect known as “Boy” in connection to an alleged 140 million baht (US$4,036,000) embezzlement case. Speaking yesterday, police deputy commander Surachet Hakpal detailed that nine out of ten men facing accusations had reported to authorities, including Chonburi’s provincial governor. The investigation continues, with financial examinations expected to…
- Thailand News
Thai monk seeks justice for reputation damage after accusations cleared
A revered Thai monk and his supporters are hitting back after accusations of inappropriate behaviour and misconduct have been cleared. The monk, 73 year old Luang Por Wang of Wat Ban Kluey in Nakhon Ratchasima province, along with his nephew, 38 year old Thanawat Saeveekul, filed a complaint with the police after an investigation showed no evidence of misconduct. The…
- Northern Thailand News
Drunk as a monk: Intoxicated Thai monks defrocked after selling temple items
In northeast Thailand’s Nong Bua Lamphu province, two intoxicated monks were defrocked after testing positive for high levels of alcohol consumption. The monks were also accused of selling temple-owned items without permission. Concerned locals alerted the Mueang Nong Bua Lamphu Police about the monks’ behaviour on a recent Tuesday. The police, accompanied by around 20 frustrated residents, visited the temple…
- Business News
Former Coinbase product manager sentenced in first cryptocurrency insider trading case
In a landmark legal decision, a former Coinbase Global Inc. product manager has been sentenced to two years in prison in what is being deemed the United State’s first case of insider trading involving cryptocurrency. Ishan Wahi, 32 years old, received his sentence from US District Judge Loretta Preska in a Manhattan federal court yesterday after pleading guilty to two…
- Thailand News
Former monk denies embezzling 180 million baht from Nakhon Ratchasima temple
A former monk and two other individuals have been arrested on suspicion of embezzling 180 million baht from Wat Pha Dhammakiri in Nakhon Ratchasima. The accused ex-monk, Khom Khongkeaw, previously known as Phra Ajarn Khom Abhivaro, denies the allegations. During police questioning, Khom and his sister claimed that the money was used for “other purposes,” and that they had no…
