The top executive of King Mongkut's Institute of Technology Ladkrabang (KMITL) has started closing the university's accounts with Siam Commercial Bank in protest against the bank for failing to submit a key piece of evidence in the 1.5-billion-baht theft from its accounts.
Mr Monai (left) shows an SCB passbook which has been closed at the KMITL branch on Friday. (Photo by Somchai Poomlard)
Prof Monai Krairiksh, acting rector of KMITL, said up until now SCB had yet to give all the documents that would help police break the case in which 1.565 billion baht disappeared from its accounts at a number of banks, including those of SCB.
An former SCB branch manager who was later asked to resigned and who moved on to work with Bank of Ayudhya (BAY) was allegedly a key suspect.
"The bank has not sent even half of the documents related to the case, including statement confirmation documents and reports on the bank's investigation into one of its branch managers.
"We admit this has exacerbated our distrust in the bank," Mr Monai said on Friday.
Assoc Prof Chamroon Laosinwattana, acting vice-president of the KMITL, said police had yet to receive in full money transfer and cashier's cheque requests, which would show who had signed to approve the transfers and who endorsed combining the transfers to destination accounts.
KMITL claimed it had asked SCB for these documents on Jan 5 and have since repeated the call 7-8 times but had yet to receive half of the requested documents.
Mr Monai said he would in protest close three of KMITL's accounts at SCB's KMITL branch totalling 50 million baht. The rector also approved the termination of the transfers of staff salary and wages and other forms of compensation handled by SCB.
Its 2,000 staff and students have also been instructed to choose other banks for the transfers starting in March. The choice is Krungthai Bank, BAY and Kasikornbank, which also have branches at KMITL.
The institute will then gradually close its remaining bank accounts with SCB and ask all of its faculties to do so.
KMITL has also been collaborating with the deputy education minister and the Bank of Thailand. It will bring up the issue at the Council of University Presidents of Thailand's meeting on Feb 22 to serve as a lesson for other universities.
SCB earlier insisted in statements it was fully cooperating with KMITL and police by submitting documents and sending its crime team to help.
A total of 1.565 billion baht was found missing from KMITL's accounts early this year. Of the amount, 80 million baht was the result of BAY passbook forgery in October 2014. Illegitimate withdrawals from three SCB accounts at Big C Suvintawong, one account at Suvanabhumi 3M branch and three accounts at the KMITL branch also occurred between 2012 and 2014.