Thu, August 20, 2009 : Last updated 12:06 hours
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EMBEZZLEMENT
Court extends asset freeze on SECC suspects
The Criminal Court has agreed to the Securities and Exchange Commission's request to extend the period to freeze assets of individuals and companies involved in the SEC Auto Sales and Services Plc-related frauds, by another 180 days.
The ruling was given on July 1. The SEC reasoned that the extension is necessary as the case is being handled by the Department of Special Investigation and involves a number of evidence. The case may not be prosecuted before the original asset freeze expiry date, July 7, 2010.
The watchdog has filed charges against SECC chairman Sompong Witthayaraksan, Nipaporn Khomkla and Krit Ekmongkolkarn, Apple Group Ltd and QR Auto Car Ltd for embezzlement.
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