No bail for rubber executives charged with graft
Two former executives of the Trang Rubber Cooperatives Assembly have been denied bail after surrendering separately to police to fight accusations of corruption and theft of rubber stock worth millions of baht.
A police source, speaking on condition of anonymity, said on Wednesday that bail was denied because of the high amount of the alleged damages and the considerable public attention the case has drawn.
Police obtained an arrest warrant last Thursday (December 6) for former manager Nitrada At-sem, 43, on charges of forging 10 promissory notes worth Bt50 million, fraud and the theft of 80,000 kilograms of rubber worth Bt3.5 million.
Former president of the cooperative assembly Sutham Polboon faces a single charge of colluding in forging the promissory notes.
Nitrada turned herself in on Friday and Sutham on Tuesday (December 11). The later applied for bail with collateral worth Bt500,000 but was denied.
Nitrada is accused of forging the promissory notes to borrow money from outsiders to cover her personal expenses and selling 80,000 kilograms of rubber in three lots to a company for Bt3.5 million without turning the money over to the assembly.
Police are summoning representatives of the private company that bought the rubber from Nitrada for interviews and expect to apply for more arrest warrants soon, the source said.
The Ninth Cooperative Auditing Office is expected later this month to conclude its investigation into the amounts of the alleged damages and the rubber stock stolen.