Ex-deputy minister sentenced to eight years for illegal share transfers
South Bangkok Criminal Court today delivered a verdict on the case of former deputy commerce minister Banyin Tangpakorn who was accused of falsifying documents to transfer Bt300 million worth of shares belonging to a billionaire building contractor Chuwong Sae Tang.
Chuwong was killed when his car, driven by Banyin drove, got into an accident in 2015.
After Chuwing death, Banyin and another defendant Kanthana Siwathanapol falsified the documents and transferred part of the shares to RHB OSK Securities (Thailand) Pcl while former stockbroker Uracha Wachirakulton was involved in the forgery to transfer rest of the shares to AEC Securities Pcl.
Chuwong’s family accused Banyin of two forgeries of documents, leading to the revocations of Chuwong’s right in AEC Securities Pcl on June 5, 2015 and in RHB OSK Securities (Thailand) Pcl on March 22, 2015, in order to illegally transfer shares valued at Bt38 million and Bt228 million.
The court found all of the accused guilty, sentencing Kanthana to four years in imprisonment, Uracha to four years and Banyin to eight years in jail.
Banyin was absent at the ruling as he remained in Bangkok Remand Prison over the kidnapping of the brother of Phanida Sakunpaprasoet, a judge at the South Bangkok Criminal Court.
He heard the verdict via a video conference.
Chuwong’s family is still pursuing two civil cases against on Banyan.