The Department of Special Investigation (DSI) has asked Interpol to issue a red notice for Stark Corp’s former chairman Chanin Yensudchai who is accused of financial misconduct.
DSI spokeswoman Pichaya Tarakornsanti said the DSI alerted Interpol after Mr Chanin failed to report to the DSI to acknowledge charges concerning irregularities in Stark’s financial statements.
Mr Chanin is among 10 people accused by the Securities and Exchange Commission (SEC) of producing false statements for Stark and affiliates during 2021 and 2022 to deceive others and obtain their assets.
Stark minority shareholders and bondholders have also filed complaints with the DSI against eight individuals and entities for alleged fraud and money laundering at the debtridden wire and cable maker.
Ms Pichaya said Stark’s former chief financial officer, Sathar Chantrasettalead, and his secretary, Yosboworn Amarit, are expected to meet DSI investigators to answer the charges next week.
She said the DSI is also tracing the remaining assets of those allegedly involved in falsifying accounts and will hand them over to the Anti-Money Laundering Office for further action.
The agency has already seized over 100 million baht in assets from Stark Corp.
She said the DSI has confiscated two luxury cars belonging to Mr Chanin and is examining two others owned by his close aides to determine if they were unlawfully acquired.
The scandal came to light after the firm failed to submit its financial statements in time as required by law.
According to the SEC, the alleged financial misconduct affected a large number of people, with damages from Stark’s debts estimated at more than 38 billion baht.
