Police have failed to make arrests in the case, which involves damages of Bt888 million. One of the accused, who remains a fugitive, is Khunying Patcharee Wongpaitoon, daughter of former deputy prime minister Pichai Rattakul.

The Bank of Thailand, as the plaintiff, filed lawsuits against the former executives.

Four people, including some FCI executives, are accused of embezzlement by hiring 29 people to act as borrowers. The four are accused of writing fake lending contracts and guarantee contracts for the loans.

The money from the borrowing was found after being transferred to Patcharee's husband, Veeranon.

Only Veeranon, who has been paralysed due to a sickness for several years, is able to be arrested, while the other three - Patcharee, Santi Buranasiri and Veerachai Wongpaitoon - have so far evaded arrest.

The senior director of the central bank's legal and litigation department, Chanchai Boonritchaisri, said yesterday the Bank of Thailand had warned police several times about the statutory time constraints.

If the statutory limit is exceeded, the accused will be free of the lawsuits and the Bank of Thailand will be unable to pursue any further criminal or civil actions.

Patcharee is now solvent after being declared bankrupt several years ago.

"We [the BOT] don't want the case to exceed the statutory limit. If so, we will not be able to take legal action against the wrongdoers. If the case ends, they will spend their lives like other normal people," Chanchai said.

The director of the central bank's litigation office, Weerachat Sribunma, said yesterday that Patcharee was seen in Chiang Rai three to four months ago, but police failed to arrest her.

Anoma Srisukkasem

The Nation