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PAKORN DENIES HE'S INVOLVED IN PRACHAI CASE

SET Chairman said he was not involved in Prachai's case.

Stock Exchange of Thailand's Chairman Pakorn Malakul Na Ayudhya on Thursday denied an allegation made by Matchima Thipataya Party's Prachai Leophairatana accusing Pakorn of involving in Prachai's stock manipulation case.



 

Pakorn said in a press release issued on Thursday, referring to Prachai's interview with Matichon Newspaper published on December 5, saying that what Prachai said was not true.

Prachai claimed in the newspaper that that the judges thought Prachai's argument was groundless because they listened to only a few people who ordered to buy 20 shares and these people were appointed by Pakorn, former secretary general of the Securities and Exchange Commission.

Pakorn noted that his term at SEC ended in December 25, 1999 and he's never been involved in SEC since then. Besides, he was not involved in the SEC's legal action against Prachai. SEC accused Prachai and certain accomplices of violating the SEC Act, Articles 77 and 239, regarding the incidents happened between 2003 to 2004. SEC filed the case against Prachai in August 2004.

Pakorn said he was not informed of the cases nor involving in acquiring the witnesses as claimed by Prachai.

Prachai's political career was in doubt after the Criminal Court found him guilty of stock manipulation and sentenced him to three years in jail. Prachai has made an appeal.

 


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