Wind Energy defends its executives

Corporate April 27, 2016 01:00

By The Nation

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WIND ENERGY Holding yesterday flatly denied alleged misconduct, threatening to take legal action against individuals who spread such negative news.



Last Friday, an anonymous letter landed in The Nation’s mailbox. The sender said he or she was a Wind Energy employee who witnessed fraudulent practices after the company went through a shareholder restructuring in 2014.

The sender also said copies of the letter had been sent to the Stock Exchange of Thailand and the Securities and Exchange Commission, among others.

Wind Energy is not traded on the stock market.

Many of the allegations were directed towards Nop Narongdej, president of KPN Group, as chairman of Wind Energy.

A few more executives including Emma Collins, chief executive officer of Wind Energy, were implicated as accessories.

Wind Energy responded to The Nation’s inquiries yesterday.

“The company would like to clarify that the accusations in the anonymous letter are not true and there are no corrupt practices in any way,” it said.

“The person who wrote or issued the anonymous letter acted in bad faith to deliberately frame the company with a view to damage the company’s business … Such [an] act, therefore, constitutes a wrongful act against the company and the executives who were mentioned and is considered a civil and criminal offence,” it said.

In the letter, the sender accused Nop of financing a vacation in France with the company’s money and extorting funds from the company to buy his mother-in-law a luxury car.

He was also accused of transferring funds from Wind Energy to KPN Energy, a unit of KPN that was established to take control of Wind Energy.

Wind Energy said its business had been lawfully carried out and the operation had expanded.

The company is now searching for the identity of the person who sent the letter. It said civil and criminal procedures were being prepared against the person and all his or her supporters.

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