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Thai stock regulator files fraud charges against execs and major shareholder of Stark Corp


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The Securities and Exchange Commission (SEC) filed a formal complaint with the Department of Special Investigation (DSI) today (Thursday), against six individuals, who are former and active executives and a major shareholder of Stark Corp, an industrial cable maker, and four companies, for financial misconduct, ranging from doctoring financial statements, accounting irregularities and hiding information from the public regarding the sale of debentures to public fraud.

 

The SEC has also submitted the case to the Anti-Money Laundering Office, for consideration of impounding the assets of the accused.

 

Those named in the complaint include major shareholder Vonnarat Tangkaravakoon, former chairman Chanin Yensudchai and former chief financial officer Sathar Chantrasettalead, Adisorn Songkhla Company, Phelps Dodge International (Thailand) Company (PDITL) and Thai Cable International Company (TCI).

 

#news

Full Story: https://www.thaipbsworld.com/thai-stock-regulator-files-fraud-charges-against-execs-and-major-shareholder-of-stark-corp/

 

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-- © Copyright Thai PBS 2023-07-06
 

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