Sansiri CEO accuses Chuwit of falsely using property firm to target Pheu Thai PM candidate Srettha

Apichart Chutrakul, chairman of the board of directors and acting CEO at Sansiri, insisted on Sunday that the land on Soi Thonglor purchased for 1 billion baht to build the KHUN by YOO condominium had been done legally without any irregularities.

Chuwit has threatened to expose wrongdoings that Sansiri allegedly committed under Srettha’s leadership if the candidate does not back down from contesting for the PM’s post.

“I don’t know what else he will talk about,” Apichart said. “But why link Sansiri [to Srettha’s political goal]? Khun Srettha has quit. I don’t know what happened. No one attacked us over the past 40 years, but it happened after Khun Srettha left to work in politics.”

Apichart said Chuwit simply wants to destroy Srettha’s legitimacy to serve as the next prime minister.

“I affirm that what Srettha has done was legitimate and lawful,” Apichart added.

Chuwit has also alleged that Sansiri used a nominee firm whose shareholders were a maid and two security guards to buy land auctioned by the Land and House Bank for 465 million baht. The nominee firm was N&N Assets Co Ltd, Chuwit alleged.

He has also claimed that a subsidiary of Sansiri, Anawat Co Ltd, purchased the plot from N&N for 1 billion baht and resold it to Sansiri to build a luxury condominium called KHUN by YOO.

Chuwit alleged that Anawat had also lent 1 billion baht to N&N, so the maid and security guards could buy the land.

Apichart explained on Sunday that most land plots cannot be bought by Sansiri directly because most of them had legal complexities that had to be cleared first. Hence, it used its subsidiary to make preparations before completing the purchases.

The new Sansiri CEO also denied that Anawat had lent 1 billion baht to N&N, adding that the mortgage contract was a method of booking the land before the purchase. He added that N&N was in the process of clearing legal hurdles.