SCB chairman apologises for delay in handing over documents, vows to pay for damage

[Lite Beer]

SCB chairman apologises for delay in handing over documents, vows to pay for damage
Chuleeporn Aram-net
The Nation

BANGKOK: -- A HIGH-RANKING Siam Commercial Bank executive apologised yesterday for the bank's delay in handing documents to police and King Mongkut's Institute of Technology Latkrabang related to the Bt1.6 billion embezzlement scandal at the institute.

A HIGH-RANKING Siam Commercial Bank executive apologised yesterday for the bank's delay in handing documents to police and King Mongkut's Institute of Technology Latkrabang related to the Bt1.6 billion embezzlement scandal at the institute.

But Vichit Suraphongchai, chairman SCB's executive committee, said the theft was orchestrated by individuals and should not cause a rift between the bank and KMITL. He said the delay in furnishing the information was caused by its large volume - but SCB red tape was the key reason.

He also said SCB would be responsible for the damage done by its staff and it was working "as quickly as possible" to find the wrongdoers.

Vichit spoke yesterday at a joint press conference where KMITL officials and Office of the Higher Education Commission (OHEC) executives were also present.

Acting deputy KMITL rector Prof Monai Krairuerk said he felt more comfortable after meeting with SCB executives and was told that relevant documents would be delivered quicker at KMITL's request.

Another acting deputy KMITL rector, Assoc Prof Jamroon Laosinwatthana, dismissed a statement by Songklod Sriprasong, the former SCB branch manager at the centre of the scandal, when he said a number of cheques and transactions were signed retroactively by KMITL lecturers authorised to do so.

"KMITL has not obtained any documents indicating this and KMITL has never had such a policy [allowing documents to be signed retroactively]," he said.

Vichit said Wallaya Kaewrung-ruang, general counsel group head and SCB senior executive vice president, is now responsible for handing over relevant documents. Wallaya is in charge of the bank's legal affairs and internal paperwork, he said.

OHEC secretary-general Assoc Kamjorn Tatiyakawee said a number of preventative government measures should be put in place to prevent large-scale theft reoccurring at state universities.

Jamroon said KMITL had requested the delivery of 68 documents associated with eight bank accounts so far. Eight documents had been received, while another 31 linked with five accounts are slated to be handed over next Wednesday and all documents due to be handed over by February 23, he said.

Separately, acting Crime Suppres-sion Division commander Maj-General Akkharadej Phimolsri said the police inquiry into the scandal should be completed by the end of this month.

Source: http://www.nationmultimedia.com/national/SCB-chairman-apologises-for-delay-in-handing-over--30254062.html

-- The Nation 2015-02-14

[NongKhaiKid]

If everything's ' tidied up ' he can afford to apologise and handover the documents, or whatever's left.

Another news source reports SCB had come to an ' agreement ' with KMIT about a handover.

Delays, Agreements etc , where are the investigators and why aren't they all over this ? It's a major case but the usual lackadaisical BIB attitude has prevailed, no urgency, summonsing witnesses instead of chasing them up and so on.

I don't suppose SCB's status has anything to do with that aspect of course.

[NeilSA1]

Sounds very suspicious.

".... said (alledged) a number of cheques and transactions were signed retroactively by KMITL lecturers authorised to do so...."

".....KMITL had requested the delivery of 68 documents associated with eight bank accounts so far. Eight documents had been received...."

Given the the Bt1.6 billion embezzlement scandal at the institute, all documents requested should have long been supplied to police and King Mongkut's Institute of Technology Latkrabang.

Obviously another reason for the delay.

[ezzra]

Yep, we're vely solly for being late handing the documents over, we needed time to cook the

books to show that our bank had nothing to do with the scam and we know nothing and we saw

nothing....

[Paulc01]

Thailand needs a RICO Act.

[Caveat Emptor]

I would be surprised if any ' evidence ' available from the documents handed over makes it clear just how SCB are not culpable in any way.

[hanno]

And he will walk away not only with his knighthood but with a multi-million pound bonus.....

[klauskunkel]

Eight documents had been received, while another 31 linked with five accounts are slated to be handed over next Wednesday and all documents due to be handed over by February 23, he said.

Separately, acting Crime Suppres-sion Division commander Maj-General Akkharadej Phimolsri said the police inquiry into the scandal should be completed by the end of this month.

remember, commander Maj-Gen, that this is February, a month noted for being short on days...to be specific, February will end on the 28th and that will leave you with about 4 days to complete your inquiry after you receive all documents. Hope you have many interns...

[bheard]

When I want to get my hands on statements from my Aussie bank it happens virtually instantaneously via the internet.

I presume the investigators want more than statements, but how can it take all this time?

Very fishy I'd say, even manufacturing a whole new set of accounts couldn't take this long.

[MaxLee]

When I want to get my hands on statements from my Aussie bank it happens virtually instantaneously via the internet.

I presume the investigators want more than statements, but how can it take all this time?

Very fishy I'd say, even manufacturing a whole new set of accounts couldn't take this long.

Yep, burning down its own departments to vanquish-rug the key evidence under the fire carpet and present KMIT with fake documents,.... And finally use a nasty nasty mosquito spray as a scapegoat

.... Hm,.... Smells fishy that the SCB burnt down exactly when KMIT protested for evidence,....

Edited February 14, 2015 by MaxLee

[ALLSEEINGEYE]

Never trust a banker, some of the lowest scum on the planet

[scorecard]

"KMITL has not obtained any documents indicating this and KMITL has never had such a policy [allowing documents to be signed retroactively]," he said."

That's one side of the story. What about the bank's policy on processing huge withdrawals when the withdrawal slips are not signed?

Reminds me of a recent case I'm aware of where a Thai customer went into a high profile Thai bank and wanted to open another savings account. Bank lady gives the customer an application form and says 'sign here'. Customer says he/she wants the document fully completed before signing anything. Bank lady says 'can't do it like that, bank policy I have to complete all the details (incl. customer name etc.) after the bank closes'.

Customer calls the manager who just keeps saying mai pben rai, it's not a problem we want to give you quick service. Customer also notes that the box to indicate issue of an ATM card is already ticked. Customer says she doesn't want an ATM card for this account, bank lady says, 'it's now compulsory'. Bank manager says, 'never mind, more convenient for you'. Bank lady now says, 'but I can't change it, and only allowed to use one application form per customer'.

Customer goes to another bank.

With respect I suggest never sign withdrawal or deposit or transfer or payment slips in the bank until the clerk has processed it through the printer and all details are printed.

[Nuddy]

As usual the whole thing is corrupt

[espinoza]

Why in go... name can they just print out the relevant information ??? Do they still run the bank with pen and paper ??? Like 1940 ??? What do they want to hide ???

[phil2407]

Think will change from SCB

[espinoza]

Think will change from SCB

What ??????

[harada]

If everything's ' tidied up ' he can afford to apologise and handover the documents, or whatever's left.

Another news source reports SCB had come to an ' agreement ' with KMIT about a handover.

J

Delays, Agreements etc , where are the investigators and why aren't they all over this ? It's a major case but the usual lackadaisical BIB attitude has prevailed, no urgency, summonsing witnesses instead of chasing them up and so on.

I don't suppose SCB's status has anything to do with that aspect of course.

I don't think anyone will be too keen to follow the paper trail to the end on this one.