Amaret handed 2-year imprisonment term for FRA role
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Amaret Sila-On, former chairman of the dissolved Financial Sector Restructuring Authority (FRA), was handed a two-year imprisonment term, with 3 years in suspension.
For his negligence when overseeing the authority, set up as a bad bank following the financial crisis, he was also ordered to provide 24-hour public services.
The Civil Court today ruled that Amaret, 79, failed to follow through the procedure. Under his guidance, the FRA did not press for the payment of Bt2.3 billion from Lehman Brothers, for bad loans formerly belonging to 56 financially-ailing finance companies.
The FRA was set up to handle the 56 finance companies' assets sale.
