SEC defends its action on GEN-related charges
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The Securities and Exchange Commission defended that it properly handled the fraud charges against General Engineering's former director Chai Bunnag.
Reacting to news report that Chai was not notified of the charges before the submission to the Department of Special Investigation, SEC Deputy Secretary-General Vasant Thienhom said that the watchdog did send the notification in line with the normal practice. Chai also submitted his clarification to the SEC.
Still, as this case involves fraud which is in violation of the Securities and Exchange Act, there is no room for fine settlement, he said. The case is consequently submitted to the DSI.
