Former justice minister Pongthep Thepkanjana has been appointed as the new head of the government's working group tasked with studying the multi-billion-baht Stark share scandal, replacing Pichai Nilthongkham, who resigned, according to the Ministry of Justice.
Along with Mr Pongthep's appointment, the secretary-general of the Security and Exchange Commission (SEC), the president of the Thailand Federation of Accounting Professions (TFAC) and the president of the Thai Investors Association (TIA) were also appointed to the working group in an order signed Tuesday by Justice Minister Tawee Sodsong, said Somboon Muangklam, an adviser to the minister.
The working group is responsible for analysing the lessons to be learned from the high-profile share fraud scandal involving Stark Corp.
Pol Col Yutthana Praedam, acting director-general of the Department of Special Investigation (DSI), also provided updates on the ongoing investigation.
He said it recently found that about 380 million baht was transferred in multiple transactions from Stark to seven parties in what are now believed to be acts of money laundering.
Two of the seven people in question are among the 11 suspects arrested previously and now remanded in custody pending a hearing by the Criminal Court. The first hearing is due to take place on Jan 14, said Pol Col Yutthana.
The 11 jailed suspects include Chanin Yensudchai, a former Stark CEO, who last month returned to Thailand from Dubai after he was tracked down and arrested there at Prime Minister Srettha Thavisin's special request to the United Arab Emirates (UAE).
The five other parties found to have received money, which was transferred to them in sums of between 50 million and 100 million baht at a time, will be summoned to answer charges soon, said Pol Col Yutthana.
The Stark share scandal is estimated to have cost at least 14.77 billion baht in damages to shareholders and stock investors, which concerned 9.19 billion baht in corporate bonds and a 5.58-billion-baht rights offering, said Pol Col Yutthana.
Assets worth around 3 billion baht linked to the scandal have already been confiscated, while the SEC continues to try and seize more assets, said Pol Col Yutthana.
Witthaya Nititham, spokesman for the Anti-Money Laundering Office (Amlo), said that while 4,724 damaged parties are seeking to recoup their money, estimated at 3.24 billion baht, it cannot be returned yet pending a court order.