DSI to file over FRA asset sales

"The investigation report is being wrapped up and it will be submitted to the prosecutors on July 31," said DSI deputy directorgeneral Tarit Pengdit, who is in charge of the case.

The last meeting of investigators took place on April 8, when former deputy prime minister and finance minister Virabongsa Ramangkura and former attorney Wit Jirapaet were present. They concluded that charges must be filed against the persons and institutes which violated the Article 11 of the law on state agencies' employees and Article 86 of the Criminal Code.

A DSI source said charges would be filed against Amaret SilaOn, chairman of the Financial Sector Restructuring Authority (FRA) - a special unit set up after the 1997 financial cri¬sis to dispose of the distressed assets of shutdown finance companies. Others are Vicharat Vichitvadakan, FRA secretarygeneral; One Asset Management; Wiwan Tharahirunchote as MD of One Asset Management; Lehman Brothers Holding; Carlos Manalac, MD of Lehman Brothers; Lehman Brothers (Thailand); and Global Thai Property Fund 5.

Vicharat and Amaret were named for alleged negligence and malfeasance and the others with supporting state officials for negligent and malfeasant actions. "Still, it's the AttorneyGeneral's Office which will finalise the decision on whether there are grounds to file charges against them," the source said.