Some of the 1.6 billion baht stolen from King Mongkut's Institute of Technology Ladkrabang (KMITL) was channelled to a loan shark, Crime Suppression Division (CSD) investigators said as they dig deeper into the massive financial scandal.
High-ranking police held a press conference recently to describe a network of people allegedly involved in embezzling some 1.6 billion baht from King Mongkut's Institute of Technology Ladkrabang campus. (File photo)
CSD deputy commander Pol Col Nos Sawetlek said on Monday that many documents were found in searches of the residences of suspects in the case.
He said these included documents concerning suspect Kittisak Matthujad, 32, who had fled the country. Mr Kittisak had operated a loan company that lent money informally, and also invested in housing estate construction.
His company Matthujad Co, at Thana Phirom housing estate in Muang Samut Prakan district of Samut Prakan province, was among the locations searched during the investigation into the huge embezzlement scandal at the renowned technology university.
Pol Col Nos also said investigators had so far not summoned former executives of KMITL for questioning. They were busy interviewing bank staff. Suspects in the case had transferred money to numerous accounts with almost all major banks in Thailand, he said.
The CSD deputy commander said police would seek warrants for the arrest of two more suspects whose bank accounts had received money from other suspects already subject to arrest warrants.
Police have four suspects in custody.
They include Amporn Noisamrit, 56, head of KMITL's finance department, and Songklod Sriprasong, 40, a former manager of the Big C Srinakarin branch of the Bank of Ayudhya, who is accused of falsifying documents to conceal the theft of the money.
Two others are Poonsak Boonsawat, 26-year-old graduate student, and Jariwat Sahaporn-udomkarn, 32, both suspected of receiving stolen money into their bank accounts. A fifth suspect is still at large, Mrs Sombat Sopradit, 44.
Police investigators say the 1.6 billion baht embezzlement scam was spread over the past two years.
The KMIT receives very large government budget funding and charges very high tuition fees.