Report Thai Abbot Sues Bank Over Alleged 1.3 Billion Baht Embezzlement

[snoop1130]

Photo via Facebook/ พระปัญญาวชิรโมลี นพพร

 

In a troubling financial scandal, Phra Panya Wachiramolee, abbot of Wat Pa Si Saeng Tham in Ubon Ratchathani, is taking legal action against a bank for allegedly embezzling over 1.3 billion baht from the Luang Pu Sri Mahawero Foundation.

 

The abbot, who serves as the foundation’s secretary, discovered the missing funds upon returning from a trip to Kunming, China. He revealed on social media that the foundation's account, into which 803 million baht from donations was deposited nine years ago, should now hold about 1.3 billion baht with accrued interest.

 

A bank employee reportedly informed him that the funds were used for investments and investment insurance—transactions the abbot and the foundation’s committee did not authorise.

 

Phra Panya Wachiramolee demanded the return of the funds, but the bank, identified as Krung Thai, refused. This led the foundation to hire legal representation and file a case at the Roi Et Provincial Court on June 25.

 

As of now, no representatives from the bank have explained the situation. The abbot and his legal team are determined to pursue justice and recover the missing funds, highlighting concerns about transparent financial management and accountability.

 

  Adapted by ASEAN Now from The Thaiger 2025-06-27

 

 

[ronster]

Was he in China for 9 years and just decided to bother checking the funds upon his return ?? 🙄

[Jack Hammer]

I see very poor people giving merit where they could at least afford to do so.  The Abbott had 803 million sitting in a bank account for nine years. My first impression was why wasn’t this money used to help people of need.

[MrMo]

That works out at an annual interest rate of 5.5%.   Never seen a Thai bank offering that sort of rate on a savings or deposit account.

[thaipo7]

6 minutes ago, Jack Hammer said:

I see very poor people giving merit where they could at least afford to do so.  The Abbott had 803 million sitting in a bank account for nine years. My first impression was why wasn’t this money used to help people of need.

Isn't it amazing how much money some Monks have??

[sammieuk1]

Racketeering at every conceivable level with zero accountability amazing Thailand 🤔

[K2938]

16 minutes ago, MrMo said:

That works out at an annual interest rate of 5.5%.   Never seen a Thai bank offering that sort of rate on a savings or deposit account.

But rather easy to get in the stock market.  SP500 has about 10% p.a.

[UbonEagle]

Absolutely mind boggling (if true...) that a Wat held funds of nearly 1bn baht 9 years ago, I know Ubon pretty well and that seems astounding.. Maybe a massive wat in BKK or CM with celebrity benefactors...

As previous posters state, poor people hand over money to these places beyond their means. 

Thankfully my Mrs sees them for what many of them are... Freeloading jailbirds lying low, trying scams on anyone they can. Not all of course, some genuine 

[klauskunkel]

1 hour ago, Jack Hammer said:

My first impression was why wasn’t this money used to help people of need.

Can not! Have to build a Chedi bigger than the one at the Wat down the road. Competition is fierce.

[roo860]

45 minutes ago, UbonEagle said:

Absolutely mind boggling (if true...) that a Wat held funds of nearly 1bn baht 9 years ago, I know Ubon pretty well and that seems astounding.. Maybe a massive wat in BKK or CM with celebrity benefactors...

As previous posters state, poor people hand over money to these places beyond their means. 

Thankfully my Mrs sees them for what many of them are... Freeloading jailbirds lying low, trying scams on anyone they can. Not all of course, some genuine 

Absolutely correct, personally I wouldn't give them the steam off my p!so, but there certainly are some that help the locals.

[khunpeer]

22 hours ago, snoop1130 said:

Photo via Facebook/ พระปัญญาวชิรโมลี นพพร

 

In a troubling financial scandal, Phra Panya Wachiramolee, abbot of Wat Pa Si Saeng Tham in Ubon Ratchathani, is taking legal action against a bank for allegedly embezzling over 1.3 billion baht from the Luang Pu Sri Mahawero Foundation.

 

The abbot, who serves as the foundation’s secretary, discovered the missing funds upon returning from a trip to Kunming, China. He revealed on social media that the foundation's account, into which 803 million baht from donations was deposited nine years ago, should now hold about 1.3 billion baht with accrued interest.

 

A bank employee reportedly informed him that the funds were used for investments and investment insurance—transactions the abbot and the foundation’s committee did not authorise.

 

Phra Panya Wachiramolee demanded the return of the funds, but the bank, identified as Krung Thai, refused. This led the foundation to hire legal representation and file a case at the Roi Et Provincial Court on June 25.

 

As of now, no representatives from the bank have explained the situation. The abbot and his legal team are determined to pursue justice and recover the missing funds, highlighting concerns about transparent financial management and accountability.

 

  Adapted by ASEAN Now from The Thaiger 2025-06-27

 

 

there's got to be more to this story... we don't know all details

[hotchilli]

2 hours ago, Jack Hammer said:

My first impression was why wasn’t this money used to help people of need

Ponzi schemes don't work like that.

[BusyB]

What's he sitting on his desk for? Must make working much harder.

[Sydebolle]

The Men of the Cloth and their relation to donations ............. 

The only thing which is most likely is, that the bank is not at fault. The bureaucracy of this medieval banking system here does simply not allow such "deviations" to happen. 

Maybe some brethren in saffron robes residing in the same temple might be able to shed some light onto the subject, who knows ..........