Thailand’s Central Criminal Court for Corruption and Misconduct Cases sentenced former top executive of the Krisda Mahanakorn real estate company, Wichai Krisdathanon, his son Ratchada and four other people to 20 years in prison today (Friday), after finding them guilty of money laundering in connection with the 9.9-billion-baht loan from the state-owned Krungthai Bank.

 

The case dates back to 2003, when the Krungthai Bank granted a loan to subsidiaries of Krisda Mahanakorn for refinancing and land acquisition for real estate development.

 

The money was, however, used for share trading on the stock market and was laundered to conceal its source, according to the public prosecutors.

 

The court initially found the six defendants guilty of multiple counts of money laundering and sentenced each of them to prison terms, ranging from 118 years to 860 years.

 

Full Story: https://www.thaipbsworld.com/former-real-estate-executive-sentenced-to-20-years-in-bank-loan-scandal/

 

-- © Copyright Thai PBS 2022-08-19

 

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"The court also ordered all of them to compensate Krungthai Bank to the tune of about 8.8 billion baht within 30 days."

Now they have been sentenced ,I am sure Krunggthai Bank will not be receiving

the money anytime soon, They should have made a deal to get the money back

for lesser sentence

regards worgeordie.

 

15 hours ago, snoop1130 said:

The case dates back to 2003, when the Krungthai Bank granted a loan to subsidiaries of Krisda Mahanakorn for refinancing and land acquisition for real estate development.

 

The money was, however, used for share trading on the stock market and was laundered to conceal its source, according to the public prosecutors.

Nice to see a speedy outcome.

 

Former prime minister Thaksin Shinawatra was also charged, but he has been living in exile. A warrant for his arrest was issued by the court. He was later tried in absentia, but was found not guilty by the same court in 2019. 

 

 

How strange that all political activists are able to be tried in their absence but rich heirs are not, thus allowing them to out run the statue of limitations?

 

 

Since 2003 they will have moved most if not all of their Assets Offshore or to other Family Members.

 

Probably won't be long before some or all of them are released on grounds of sickness !