PICNIC CORP
Executives get 12-year prison terms
- Published: 23/02/2012 at 02:11 AM
- Newspaper section: News
The Appeal Court yesterday handed down 12-year jail sentences to two former executives of Picnic Corp for accounting fraud and securities violations.
Theeraratchanon Lapvisutisin, Picnic's former managing director, and Supaporn Lapvisutisin, the company's deputy managing director, were found guilty of cooking the books with accounting fraud totalling nearly 400 million baht.
Twenty others _ eight individuals and 12 firms including Picnic Corp _ had also previously been charged in connection with the accounting fraud.
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