GH Bank official charged with embezzling Bt400 million

Police intercepted Somkiat Panyaworrakuldej while he was driving a brandnew BMW to a Cambodian border crossing in Si Sa Ket in an attempt to escape. Bt12 million in cash was found in the boot of his car.

Police later took him to a luxury Bt31milllion house he bought recently and found another new BMW sedan. The suspect, who has been charged with embezzlement, admitted the crimes and said it had all started with paying his football gambling debts early last year.

GHB managing director Khan Prajuabmoh said the suspect had transferred Bt400 million from a communal GHB account that stored interest set to be paid out to customers and no money had been stolen from any of GHB clients' personal accounts. Khan said the suspect had transferred around Bt900,000 from the GHB to his accounts each day for more than a year.

He said Somkiat's wrongdoing had been detected a few years ago and he thanked police for their quick action and arrest of Somkiat. Executives of several commercial banks at which the suspect opened accounts will be asked to cooperate by freezing the accounts and later seizing his money.

His threestorey luxury home is decorated with highend furniture. Police found empty boxes from valuables and luxury watches and said they suspected that Somkiat had given the contents to his girlfriend, who has not been charged with any offence.