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The court ruled Krirk-kiat violated Bank of Thailand regulations concerning the maximum limit of a loan 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, subject to 35 years' imprisonment and Bt4.96 billion in penalties. The punishment will be added to verdicts from the South Bangkok Criminal Court in 2005 and the Criminal Court in 2005 and last year.

Krirk-kiat and Support Systems were also ordered by the Criminal Court to return Bt2.475 billion to the BBC.

The latest case involved the lending of more than Bt2 billion to Support Systems. There were four defendants: Krirk-kiat, former BBC executive vice president Ekkachai Athikhomnantha, Support Systems and Rangsan Piyawongpinyo, who was a director of a company under Krirk-kiat's adviser Rakesh Saxena. Saxena continues to fight extradition from Canada.

Ekkachai was acquitted, due to weak evidence, while Rangsan was sentenced to nine years' imprisonment.

Krirk-kiat bailed himself out yesterday with a land title deed worth Bt4 million. He will file an appeal.

Court documents show that Krirk-kiat, who assumed the bank's presidency in 1988, appointed Saxena as an adviser in 1995. Even though the central bank stipulated executive-committee approval was necessary for any loan worth more than Bt30 million, Krirk-kiat and Ekkachai approved more than Bt2 billion to Support Systems without having the company sign any contract. Then, Support Systems used the amount to repay the debts that Saxena's entities owed to the BBC. Krirk-kiat also extended the loan's repayment date to Support Systems another six months, widened the loan limit another Bt380 million and approved more than Bt100 million in loans.

Earlier, the South Bangkok Criminal Court sentenced Krirk-kiat to 30 years' imprisonment and Bt3.2 billion in fines. In another case, the Criminal Court sentenced Krirk-kiat to 60 years' imprisonment plus penalties of Bt1.15 billion and ordered him to return Bt767 million to the BBC. All of the cases are being appealed.