Former real estate executive sentenced to 20 years in bank loan scandal

23 Sept 05:52 Key points summarised by AI

Former Krisda Mahanakorn executive Wichai Krisdathanon, his son, and four others were sentenced to 20 years in prison for money laundering.
The convictions relate to the misuse of a 9.9-billion-baht loan from state-owned Krungthai Bank, which was diverted from real estate development to stock trading and subsequently laundered.
The court ordered the convicted individuals to jointly compensate Krungthai Bank approximately 8.8 billion baht within 30 days.
This case is linked to a broader scandal, with bank executives previously sentenced in 2015, while former Prime Minister Thaksin Shinawatra was acquitted in absentia in 2019.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.