Klongchan crooks to pay B3.8bn

Klongchan crooks to pay B3.8bn

Former Klongchan Credit Union Cooperative chairman Supachai Srisupa-aksorn is ordered by the Civil Court to pay 3.8 billion baht in compensation to the embezzlement-hit cooperative. (Bangkok Post file photo)
Former Klongchan Credit Union Cooperative chairman Supachai Srisupa-aksorn is ordered by the Civil Court to pay 3.8 billion baht in compensation to the embezzlement-hit cooperative. (Bangkok Post file photo)

The Civil Court has ordered former Klongchan Credit Union Cooperative (KCUC) chairman Supachai Srisupa-aksorn and three former executives to pay 3.8 billion baht in compensation to the embezzlement-hit cooperative.

The three former executives are Saranya Manmad, ex-KCUC deputy manager; Lapas Somkam, former KCUC secretary; and Krisada Meeboonmak, former chief of the KCUC's credit unit.

Twelve people who received money from the former executives were also ordered to return the money. According to the court, Supachai and the three former executives colluded to withdraw 10.48 billion baht in cheques from the KCUC, which is the plaintiff in the case.

They also pulled 1.9 billion baht out of the KCUC's deposits and worked together to lend 11 billion baht to members who had no stake or collateral, both of which are required under regulations.

The executives also unlawfully allowed Supachai to borrow at least 12 billion baht from the KCUC. The offences took place from 2009 to 2012.

The court said the plaintiff's evidence carried weight, and showed that Supachai abused his position in committing the offences. The other three executives, who were taking care of the KCUC's money, also collaborated to commit the offences, according to the court. Supachai and the former executives were ordered to pay a combined 3.8 billion baht to the KCUC with an annual 7.5% interest rate accrued since the complaint was lodged on May 1, 2014.

Do you like the content of this article?
COMMENT (8)

7,139 new Covid cases, 13 more deaths

The country registered 13 more Covid-19 fatalities and 7,139 new cases during the previous 24 hours, the Public Health Ministry announced on Monday morning.

07:46

Taking retail to the next level

During the pandemic the past couple of years, retailers, brands and manufacturers have adapted to changing consumer behaviour.

06:30

FTI club launches EV component plan

The Federation of Thai Industries' (FTI) auto parts club is working to help 2,500 auto parts manufacturers accustomed to producing parts for internal combustion engines (ICE) to shift towards electric vehicle (EV) technology by launching an EV component development plan.

06:22