Police will be asked to consider the statements of two expert witnesses who insisted Vorayuth "Boss" Yoovidhya was driving at high speed at the time of his infamous hit-and-run crash.
Prayuth Petchkhun, a member of the panel of prosecutors set up to look into the handling of the case, said on Tuesday it had found "new evidence" which justified a fresh investigation into the case against Mr Vorayuth.
He said the new evidence involved the statements made by two experts about the Ferrari's speed at the time of the fatal crash. and one of them had not even been included in the police investigation report.
He was referring to a media interview by Sathon Vijarnwannaluk, a physics lecturer at Chulalongkorn University's Faculty of Science, who claimed to be part of the original evidence collection and examination team. Mr Sathon said he had calculated the Ferrari's speed for the police and concluded that it was travelling at 177 km/h.
However, the conclusion had not been included in the police file for the case.
Mr Prayuth also said that another expert, Samart Ratchapollasit, had also assessed the Ferrari's speed and concluded it was travelling "at no less than 126 km/h".
"This is a new piece of evidence that can be used in court, so the working panel will make recommendations to the Office of Attorney General [OAG] so that police take further action," said Mr Prayuth.
The statute of limitations on the charge will not expire for another seven years.
In dismissing the reckless driving charge against Mr Vorayuth, the prosecutor said Mr Vorayuth did not drive his Ferrari over the speed limit and that the policeman who was killed abruptly had cut in front of his vehicle.
Mr Prayuth said the prosecution would also recommend that police investigate Mr Vorayuth's alleged drug use -- a blood test showed cocaine in his system. Police have yet to question and charge Mr Vorayuth over the alleged narcotic abuse, which has a statute of limitations of ten years.
On the prosecution's handling of the case, he said the panel found that deputy Attorney-General Nate Naksuk, who approved the dropping of the charge of reckless driving causing death, had made a sound decision based on available evidence and witnesses.
Meanwhile, Pakorn Nilprapun, head of a panel under the independent fact-finding committee, said the inquiry would also look into the financial transactions of people involved to determine if any irregularities were present.
Mr Vorayuth, now 35, drove a black Ferrari that crashed into the rear of the motorcycle ridden by Pol Snr Sgt Maj Wichian Klanprasert, 47, killing him, on Sept 3, 2012.
