18-year jail term handed to Suchai, Viroj
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The Supreme Court's Criminal Division for Political Office Holders today sentenced Suchai Chaovisit and Viroj Nualkhair to 18 years in prison for approving an Bt8 billion loan from Krungthai Bank.
They, along with the borrowers, are demanded to repay compensation to the bank, worth over Bt10 billion.
The loan was extended to subsidiaries of Krisdamanakorn Group in 2003, for refinancing and land acquisition. However, the loan was used for other purposes.
Suchai then served as the state-owned bank's chairman while Viroj was the president.
While the 18-year prison term was handed to Suchai, Viroj and Defendent No.12 who served the bank's loan approval committee, a 12-year prison term was handed to Defendants No. 5, 8-11, 13-17, and 23-27 who were bank executives and the borrowers.
The trial against former prime minister Thaksin Shinawatra, Defendant No.1, is temporarily suspended as he is in exile.
