The Phuket News Premier League predictions The Phuket News Kata Rocks The Phuket News
The Phuket News Thailand News
The Phuket News Phuket | Thailand | World | Business | Q&A | Weird World XML, RSS, Feed
The Phuket News The Phuket News
The Phuket News

Supreme Court upholds 20-year jail terms for Sondhi, 2 others

BANGKOK: The Supreme Court today (Sept 6) upheld the lower court’s 20-year jail sentence on Sondhi Limthongkul, founder of the Manager Media Group, and two former Manager directors for violations of the Securities and Exchange Act.

crime,


Bangkok Post

Tuesday 6 September 2016, 03:42PM


A resigned Sondhi Limthongkul sits in the back of the Correctional Services van before he is driven off to Bangkok Remand Prison to serve his 20-year prison sentence. Photo: Pornprom Satrabhaya
A resigned Sondhi Limthongkul sits in the back of the Correctional Services van before he is driven off to Bangkok Remand Prison to serve his 20-year prison sentence. Photo: Pornprom Satrabhaya

They were convicted of falsifying documents used as collateral for a B1.08-billion loan from Krung Thai Bank, and failing to seek approval for the loan from the company board.

Named in the lawsuit filed by the prosecution in October 2000 in the Criminal Court on behalf of the Securities and Exchange Commission (SEC) were Sondhi and three former Manager directors – Suradet Mukyangkoon and two women, Saowalak Thiranujanyong and Yupin Chantana. 

The loan was arranged for The M Group, a private company controlled by Sondhi and a major shareholder in the listed Manager Media Group. 3

The Manager Media Group was listed as a guarantor for the loan with Sondhi, Saowalak, Yupin and Suradet signing the guarantee document.

The SEC said the board of the Manager Media Group was unaware of the transaction, which was also not disclosed in the listed company’s financial statements.

The M Group later defaulted on the loan, resulting in Manager becoming liable for repayment and incurring damages totalling B259mn.

The four also falsified documents to mislead Krung Thai Bank into believing the guarantee by Manager was properly authorised by the company board, and later colluded to prevent disclosure of the guarantee by the company to the Stock Exchange of Thailand.

The Criminal Court, on Sept 17, 2012, found them guilty and sentenced Sondhi and Saowalak to a total of 85 years in prison, Yupin to 65 years in jail and Suradet to five years.

Due to their confessions, the jail terms were halved to 42 years for Sondhi and Saowalak, 32 years and six months for Yupin, and two years and six months for Suradet.

Since the law limits prison terms to 20 years, the court ordered Sondhi, Saowalak and Yupin to each serve 20 years in jail. The three appealed.

Sudaret chose to serve the two years and six months.

On Aug 7, 2014, the Appeals Court upheld the Criminal Court’s 20-year jail sentence on Sondhi, Saowalak and Yupin. They again appealed.

Today the Supreme Court upheld the 20-year prison sentences for all three.

Sondhi was taken from the court to Bangkok Remand Prison and Saowalak and Yupin to the Central Women’s Correctional Institute.

Read original story here.

 

 

The Phuket News
The Phuket News
Comment on this story
* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.
Comments Here:

Comments Left: Characters
Username:
Password:
E-mail: (No Hotmail, Live, MSN and Outlook accepted at this time)
Security:
   => Forget password?

Be the first to comment.

The Phuket News
The Phuket News The Phuket News The Phuket News
The Phuket News
Share this
The Phuket News
Have a news tip-off? Click here
The Phuket News
Related stories
The Phuket News
Phuket community

Recent Comments


Phuket slow loris touts escape officials

Maybe its's because it's not a Police or Navy matter. They are highly trained in matters that don't concern animals or touts nor are they ...(Read More)


Phuket slow loris touts escape officials

Back in Kata Beach today and pay money in the morning to the Office under the Fotball field in Karon, this Blue car driving every morning and give som...(Read More)


No charges for motorcyclist who rammed off-duty Phuket policeman’s car

This is not how to promote safe driving standards and reduce Thailands notorious road death rate. People need to expect repercussions for their reckle...(Read More)


Tougher driving tests, medical checks eyed in road safety push

And what does Thaier think the mirrors are for? put on make up ?...(Read More)


Phuket slow loris touts escape officials

With the po-lice and navy, on patrol, why is it ALWAYS so hard to catch these, or any, touts, any school kid could fi d them, but not these trained, p...(Read More)



Touting elephants okay, says Phuket wildlife official

Not all elephants are "crushed" but only one is too much. I wonder why at one time I was told I had to apply for a permit to take horses ...(Read More)


Australian paedophile stopped from travelling under tough new law

good on Australia, about time they locked these sicko types up and threw away the key, Asian countries need much heavier penalties as well including t...(Read More)


Phuket officials target deadly overloaded trucks

And please!!! Be after these overloaded cement trucks, which spill their load at the beginning of hills when changing to lower gears. Best example is ...(Read More)


Phuket officials target deadly overloaded trucks

This has become a rat run over time, a short cut between Thepkassatri and the Cherng Talay-Heroines road. Despite the signs vehicles that should not b...(Read More)

The Phuket News
Bangkok Hospital Phuket
PHUKET NEWS
Phuket
Thailand
World
Business
Q A
Weird World
ARCHIVE
POLL
CURRENCY
WEATHER
PHUKET TIDE TABLE
The Phuket News PHUKET LIFE
Phuket Arts
Phuket Community
Phuket Culture
Phuket Dining
Phuket Education
Phuket Entertainment
Phuket Environment
Phuket Health
Phuket People
Phuket Technology
Phuket Travel
World Entertainment
Photo Galleries
COLOURING BOOK
The Phuket News PHUKET SPORT
Phuket
Thailand
World
SURF REPORT
PREDICTIONS
The Phuket News PHUKET CLASSIFIEDS
Phuket Buy and Sell
Phuket Jobs
Phuket Property
Phuket Cars and Boats
Phuket Community
Phuket Services
SEARCH CLASSIFIEDS
POST CLASSIFIED
The Phuket News The Phuket News PHUKET EVENTS
Phuket Event listings
Phuket Event calendar
Buy Tickets
POST EVENT
The Phuket News PHUKET DIRECTORY
Phuket Bars, pubs and clubs
Phuket Hotels and villas
Phuket Restaurants
Phuket Yellow Pages
POST LISTING
The Phuket News BARGAINS
The Phuket News ABOUT US
The Company
Distribution points
Subscribe
Advertise with us
Pay for advert
Contact us
CONTESTS
Content Google Map
Site map
Australian Visa Services
 
Currency - The Phuket News   Weather Report - The Phuket News   Surf Report - The Phuket News
LinkedIn - The Phuket News   Twitter - The Phuket News   YouTube - The Phuket News   Facebook - The Phuket News
Copyright © 2017 Class Act Media. All rights reserved. | Website usage terms and conditions | Privacy and Confidentiality Statement.