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Major player in BBC bank scandal gets 20 years

Dec 01. 2014
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By The Nation

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A KEY suspect in the Bangkok Bank of Commerce fraud scandal was yesterday sentenced to 20 years in prison, commuted originally from a total term of 155 years resulting from convictions on 31 counts of embezzlement and violation of a law regulating propert

Chattawat Muttamara, better known by his former name Weeraphol, was also ordered to reimburse Bt732.98 million to the BBC stakeholders, apart from another Bt31 million in total fines, Bt1 million for each count.

Six other defendants in the case were acquitted yesterday by the Criminal Court, but two of his aides – Choochart Harnsawas and Manote Chaowarat – were ordered detained during the period of their appeals.

The same charges against BBC president Krirkkiat Jalichandra were dropped because he has died.

Auditor also found guilty

Chattawat, founder of SiamMass Co Ltd, which was hired by BBC to audit its assets, was found guilty of intending not to follow auditing requirements and of doing so jointly with Krirkkiat, and thereby causing damages to the bank and its stakeholders amounting to Bt732,982,485.17.

Yesterday’s verdict was part of a case involving 10 other prosecutions against Krirkkiat and other accomplices involved in the BBC scandal, which caused it to collapse.

Krirkkiat was sentenced to a total of 30 years in prison in a previous verdict by the Bangkok South Criminal Court and ordered to compensate BBC and its stakeholders to the tune of Bt3.2 billion.

 

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