Amlo freezes B1bn of funds in co-op scam

Supachai ‘skimmed money to buy shares’

The Anti-Money Laundering Office has frozen more assets valued at 1.2 billion baht owned by former board chairman Supachai Srisupa-aksorn, a key suspect in the 12-billion-baht Klongchan Credit Union Co-operative embezzlement scandal.

Close to 4 billion baht worth of assets owned by Mr Supachai and his associates had already been frozen by Amlo.

Amlo investigators discovered recently that Mr Supachai had also held shares in several companies through nominees, according to Amlo chief Pol Col Sihanart Prayoonrat.

Mr Supachai was found to have held 11 million shares through Sathaporn Watthanasirinukul in S W Holding Group (Thailand) Co, valued about 1.1 billion baht, said the Amlo chief.

Shares of Thai U TV Co, formerly known as U Channel Co, worth about 4.1 million baht, as well as shares worth 105 million baht of UBuy Co, have also been seized, said Pol Col Sihanart.

These shares were found to have been held by Mr Supachai through two nominees identified as Chayada Worawiriyachat and Pimnaphas Pattamasang, said the Amlo chief.

Shares held in Blue Sky (2013) Co worth 2.5 million baht that were owned by Mr Supachai and various associates were also seized, said Pol Col Sihanart.

“Mr Supachai previously claimed that he used his earnings from his shipping and international bond brokering businesses to buy the shares, but he failed to support his claim with documents confirming the sources of his income,” Pol Col Sihanart explained.

Amlo believes the suspect channeled the money he had embezzled from the co-operative to buy the shares, said Pol Col Sihanart. As for the 714 million baht Mr Supachai was found to have donated to Wat Phra Dhammakaya, he said Amlo does not have the authority to seize that money because, by law, the donation is now an asset of the temple.

The cooperative’s 50,000 members had deposited a total of 15 billion baht, which they have been unable to withdraw for at least two years. The board was sacked in October 2013 for its involvement in pilfering 12 billion baht from co-op members.

In another development, Amlo revealed its transaction investigation committee yesterday decided to seize a Lamborghini owned by actor Pakorn “Boy” Chatborirak who claimed he bought it from Kittisak Muttujad, a key suspect in the King Mongkut’s Institute of Technology Ladkrabang (KMITL) embezzlement scandal.

Although Pakorn might have no connection with the KMITL embezzlement network, Amlo has evidence to prove the car was bought with money obtained illegally in the embezzlement case, said Pol Col Sihanart.

That is why the car was treated as an asset related to the scam and had to be seized, he said.

After hearing about Amlo’s decision, Pakorn posted a message on social media saying he felt relieved. He maintained he was not involved with the embezzlement gang.

As for the Lamborghini, he said, he respects Amlo’s decision, and he has tried his best to prove to Amlo that he was not part of the money-laundering case. His lawyer will take care of the legal process to see if he can get the car back.

Amlo’s transaction investigation committee also agreed to seize 22 items of assets acquired by the KMITL embezzlement network that are worth 192 million baht in total.