Former CEO of Energy Absolute pledges to clear name after fraud charges

The Department of Special Investigation (DSI) has taken up the case after the Securities and Exchange Commission (SEC) accused Somphote, former deputy CEO Amorn Sapthaweekul, and a third suspect, Phornlert Techarattanopas. 

The allegations are based on evidence suggesting that the three individuals engaged in fraudulent activities involving the purchase of foreign equipment and software for EA's solar power plant projects through two subsidiaries – EA Solar Nakhon Sawan and EA Solar Lampang – resulting in illicit profits amounting to 3.46 billion baht.

The Attorney General has since filed charges against the suspects, who are currently being sought for prosecution. There have been rumours suggesting that Somphote has fled to Hong Kong.

Somphote stated that he is determined to prove his innocence through proper legal channels, providing evidence to ensure a fair trial and avoid creating any further burden for the organisation.

He added that he resigned from his executive role in the company at the outset of the investigation and has had no involvement in the company's management since then.

"I do not wish for this incident to affect the company's management, employees, investors, or business partners, who continue to drive the organisation with dedication, transparency, and professionalism," he said.

Somphote explained that the allegations stem from events that occurred 10 years ago, emphasising that if the accusations were accurate, the impact would have been felt in the company's financial results at that time. 

However, in reality, the company has continued to recognise revenue as usual and has experienced consistent growth.

In order to prevent further harm, given the potential widespread impact, Somphote urged the media and public to carefully consider the situation. "Let the facts be proven, and please refrain from making premature judgments until the legal process has been completed," he said.