Krirkkiat faces another punishment

By The Nation

The Criminal Court on Wednesday convicted Krirkkiat Jalichandra and 3 accomplices of embezzlement from the defunct Bangkok Bank of Commerce, where Krirkkiat served as the president.

The court ruled that Krirkkiat violated the Bank of Thailand's order concerning the maximum limit of a loan that the bank's president could approve. His actions were also in violation of the Securities and Exchange Act. He was convicted of six felony counts, subjecting to the 35-year imprisonment and Bt4.96 billion in penalties. The punishment will add on the verdicts by the South Bangkok Criminal Court in 2005 and the Criminal Court in 2005 and 2007.

The latest case involved the lending of over Bt2 billion to Support Systems Co Ltd, partially with acknowledgement of former Krirkkiat's advisor Rakesh Saxena, who is still fighting the extradition case in Canada.

Krirkkiat and Support Systems are also ordered by the Criminal Court to return Bt2.475 billion to BBC.

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Krirkkiat faces another punishment

The Criminal Court on Wednesday convicted Krirkkiat Jalichandra and 3 accomplices of embezzlement from the defunct Bangkok Bank of Commerce, where Krirkkiat served as the president.

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