Phra Thattacheevo, the acting abbot of Wat Phra Dhammakaya in Pathum Thani, has been stripped of the monastic title of Phra Ratchapawanajarn, effective from March 7.
A royal command demoting Phra Thattacheevo was published in the Royal Gazette on March 8, countersigned by Prime Minister Prayut Chan-o-cha.
The royal command said Phra Thattacheevo had committed malfeasance by providing shelter for a criminal suspect and investing the temple's money in the stock market in violation of Section 157 of the Criminal Code.
The monk had also failed to report to the authorities as required by Order No. 5/2560, dated Feb 15, of the National Council for Peace and Order.
On March 4, Phra Dhammajayo, the former abbot of Wat Phra Dhammakaya, was also stripped of his monastic title by royal command.
Phra Dhammajayo faces arrest warrants in many legal cases including money-laundering and receiving stolen property in connection with the Klongchan Credit Union Cooperative embezzlement and encroachment of forest reserves. He remains at large.