Two arrested over Bt1.6-bn KMITL embezzlement

[webfact]

Two arrested over Bt1.6-bn KMITL embezzlement
MONTHIEN INTHAKET
THE NATION



BANGKOK: -- FOLLOWING THE arrest yesterday of two suspects for allegedly embezzling some Bt1.6 billion from King Mongkut's Institute of Technology Lat Krabang (KMITL), the institute said a committee had been working over the past week with a view to establishing the facts, gathering more evidence against the alleged wrongdoers and retrieving the lost money.

The Anti-Money Laundering Office (AMLO) has now helped the police trace related money transactions involving more accomplices in the embezzlement.

Police believe many people were involved in the scam, while KMITL's acting rector said he was not sure if any previous administrative executives were implicated. While acknowledging that the lost money had been held in reserve, hence its disappearance could affect future useful projects, Monai Krairiksh insisted the loss had not affected KMITL projects, or teaching and learning.

He said that the institute would cooperate with the police investigation, and that its committee had already gathered evidence and was ready to hand it over to the police upon request.

Police spokesman Pol Lt-General Prawuth Thavornsiri told a press conference that two suspects - KMITL finance division head Ampon Noisamrit, 56, and the ex-manager of Bank of Ayudhya's Big C Srinakarin branch, Songklod Sriprasong, 40 - had been apprehended to face charges of forgery and using fake KMITL documents, and colluding to embezzle the institute's money over a two-year period.

Only Songklod, arrested in the On Nuj area, was presented at yesterday's press conference because Ampon, whose salary is being withheld by KMITL pending the outcome of the investigation, was receiving medical treatment for diabetes at a Bang Na private hospital, he said.

"Police will extend these arrests to apprehend more accomplices, as the money was transferred to a third person's bank account," he said, adding that the matter was also being referred to the AMLO.

Prawuth said yesterday's arrests had stemmed from KMITL's investigation on December 12 into the missing money and alleged document forgery, which led to a police complaint being filed on December 16 against Ampon and Songklod.

Suspicion first arose in October after Ampon reportedly withdrew Bt80 million from KMITL's bank accounts in order to deposit the money into another account at the Bank of Ayudhya's Big C Srinakarin branch, where Songklod then served as manager, for a higher interest rate, the spokesman explained.

The institute became suspicious of the strange cashier's-cheque issuance and launched an investigation, during which it discovered that the recipient account belonged to another person - identified as Poonsak Boonsawat.

But by that time, the account was closed and the Bt80 million gone.

The institute then checked other three accounts back until 2012 and found they were false accounts, which had been emptied of Bt510 million, Bt314 million and Bt759 million, respectively. So, the total loss stood at Bt1.663 billion, including the Bt80 million withdrawn in October, the spokesman said.

Songklod reportedly admitted knowing Ampon for a decade as a customer, but denies any wrongdoing.

He claims that all transactions seemed to have proper documentation, and that Ampon's senior official status at a well-known institute made him trust her and believe that nothing corrupt was going on, Prawuth said.

Songklod said he had left his job at the bank job two months ago after failing to pass his probation as manager, the spokesman added.

Source: http://www.nationmultimedia.com/national/Two-arrested-over-Bt1-6-bn-KMITL-embezzlement-30250539.html


-- The Nation 2014-12-24

[meatboy]

this shows there are no such thing as auditing yearly accs.

[ezzra]

Why on earth, a government sponsored learning institute has 1.6 billion in their coffers

in the first place, and assuming if they missing 1.6 billions, than they must have lots more?

[klauskunkel]

Monai Krairiksh insisted the loss had not affected KMITL projects, or teaching and learning.

Well, then what's the problem? The money was obviously earmarked for playing and not for anything important...

[Bluespunk]

All that money and that's the jacket he bought.

[meatboy]

Why on earth, a government sponsored learning institute has 1.6 billion in their coffers

in the first place, and assuming if they missing 1.6 billions, than they must have lots more?

try and get a student into one of these instute's.you need a mortgage.

[Baghdad]

Look at the smile on his face, he doesn't give a sh..t

Edited December 24, 2014 by Baghdad

[Anthony5]

Look Mum, I'm in the newspapers with some big wigs.

[metisdead]

A rumor post containing libelous content has been removed as well as the replies:

6) You will not post comments that could be reasonably construed as defamation or libel.

Defamation is the issuance of a statement about another person or business which causes that person to suffer harm. It does not have to be false to be defamatory. Libel is when the defamatory statement is published either in a drawing, painting, cinematography, film, picture or letters made visible by any means, or any other recording instruments, recording picture or letters, or by broadcasting or spreading picture, or by propagation by any other means. Defamation is both a civil and criminal charge in Thailand.

[A1Str8]

What is he smiling about? And the cop next to him is looking at him like..just wait until we get to the station.

[Kiwisailor]

Usually it is the wrongdoer who isn't smiling and the RTP who smile and point. There is something seriously wrong with this picture!

[jcisco]

The management of Kmutl are army generals and ex-pm. Go check their web site. I think it is an inside job.

YOU post direct links to support your otherwise libelous claims.

http://www.kmitl.ac.th/en/about.main.php?page=admin

Get your libel on, Not sure what was libelous about his statement. are you suggesting un-named people managing a business is libelous, then I ask you link please to back up your standing. As for the reverse, KMITL bringing libel... interesting

[Thai at Heart]

The management of Kmutl are army generals and ex-pm. Go check their web site. I think it is an inside job.

YOU post direct links to support your otherwise libelous claims.

http://www.kmitl.ac.th/en/about.main.php?page=admin

Get your libel on, Not sure what was libelous about his statement. are you suggesting un-named people managing a business is libelous, then I ask you link please to back up your standing. As for the reverse, KMITL bringing libel... interesting

A lot of bling in those pictures. More medals than a boy scout summer camp

Of course, I would hope that the Chairman has attended all the meetings and is aware of the technicalities of how these losses have occurred, and has.changed procedures to stop it happening again.

To not be, would be negligent right?

Now I see why all of a sudden this case hit the point of arrests and investigation.

Edited December 24, 2014 by Thai at Heart

[jcisco]

A lot of bling in those pictures. More medals than a boy scout summer camp

Of course, I would hope that the Chairman has attended all the meetings and is aware of the technicalities of how these losses have occurred, and has.changed procedures to stop it happening again.

To not be, would be negligent right?

Now I see why all of a sudden this case hit the point of arrests and investigation.

With regards to the changes of SOPs, it is an interesting one to overt due to the complicity in the act of the banks agent in order to facilitate this. With one person able to execute transactions

would it not of been necessary to complete End of day account reconciliations or at least check projected balances against account balances actuals.

This is more insidious that the usual issue of two signatories being too closely related either physically or socially

On another note:

Aren't these the fittest BiB guys you seen in uniform ever.....

Edited December 24, 2014 by jcisco

[SOTIRIOS]

.........a an important position..........a title.......a salary to match.......but........when the sh*t hits the fan.........mai ru.... mai ru.....

........so much for credentials.........qualifications.......

...so what was the person being paid for all this time.....what was he doing to NOT know what has been going on under his nose........

A rector in the widest ecclesiastical sense, is "one who sets straight, guides, directs; a ruler, governor, director, guide, leader," from the Latin verb rego, regere, rexi, rectum, "to set straight, guide, direct".

A rector ("ruler", from the Latin regere and rector meaning "ruler" in Latin) in the sphere of academia is the highest academic official of many universities and in certain other institutions of higher education, as well as even in some secondary-level schools.

[MyFriend You]

 

What is he smiling about? And the cop next to him is looking at him like..just wait until we get to the station.

 

More Like, all that money and he didn't give us any??? Is that Sonny & Chers jacket??

[ratcatcher]

The management of Kmutl are army generals and ex-pm. Go check their web site. I think it is an inside job.

YOU post direct links to support your otherwise libelous claims.

http://www.kmitl.ac.th/en/about.main.php?page=admin

Get your libel on, Not sure what was libelous about his statement. are you suggesting un-named people managing a business is libelous, then I ask you link please to back up your standing. As for the reverse, KMITL bringing libel... interesting

A lot of bling in those pictures. More medals than a boy scout summer camp

Of course, I would hope that the Chairman has attended all the meetings and is aware of the technicalities of how these losses have occurred, and has.changed procedures to stop it happening again.

To not be, would be negligent right?

Now I see why all of a sudden this case hit the point of arrests and investigation.

A lot of bling in those pictures. More medals than a boy scout summer camp

Bling is Thai style, every one likes a uniform with stars, pips, wings and medals, makes them look like important people.

The question is, bearing in mind that they are wearing medal bedecked shirts and not jackets, I imagine they spend at least 2 hours after the laundry is dry replacing all the hardware..

BTW, generally, boy scouts earn their badges, these guys probably buy them.