stark corporation

  • Business NewsStark Corporation scandal costs 14.7 billion baht

    Stark Corporation scandal costs 14.7 billion baht

    Shareholders and stock investors of Stark Corporation are reeling from an accounting and embezzlement scandal that has incurred damages estimated at a staggering 14.7 billion baht. This debacle has impacted 4,704 shareholders and led to the prosecution of the former chairman and several top executives in what is deemed one of Thailand’s largest corporate frauds in recent years. Adding to…

  • Thailand NewsFormer Justice Minister leads probe into Stark share scandal

    Former Justice Minister leads probe into Stark share scandal

    Former Justice Minister Pongthep Thepkanjana has been appointed as the new head of the government’s working group investigating the multi-billion-baht Stark share scandal. Pongthep replaces Pichai Nilthongkham, who resigned, according to the Ministry of Justice. Pongthep’s appointment is accompanied by the inclusion of the Secretary-General of the Security and Exchange Commission (SEC), the President of the Thailand Federation of Accounting…

  • Thailand NewsDSI slaps Stark CEO with a torrent of charges

    DSI slaps Stark CEO with a torrent of charges

    In a dramatic twist to one of Thailand’s largest corporate frauds, the Department of Special Investigation (DSI) charged Chanin Yensudchai, former CEO of Stark Corporation, with a slew of serious offences including money laundering and document forgery. Acting DSI Director Yutthana Praedam confirmed the charges also encompass negligence, fraud, embezzlement, and violations of the Securities and Exchange Act of 1992. Despite…

  • Thailand NewsDSI freezes 220 million baht in Stark Corp leader Chanin’s scandal

    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…