Key suspect in Stark fraud case, Chanin, brought back to Thailand
Chanin Yensudchai, one of the key suspects in the fraud case involving Stark Corporation Public Co Ltd (STARK), who had fled the country, was brought back to Thailand on Sunday morning from Dubai to face charges.
Numerous media outlets were stationed at the airport from 7am on Sunday (June 23). Later in the morning, authorities escorted Chanin to the Department of Special Investigation (DSI) for detention.
Jakkapong Saengmanee, minister attached to the Prime Minister’s Office, revealed that Chanin, the former chairman of Stark, who is a suspect in a major fraud and money laundering case involving billions of baht, was taken into custody in the country at 8am.
The arrest was the result of cooperation between several economic agencies, including authorities from the United Arab Emirates, and served as a crucial lesson for all involved parties to prevent such incidents in the future, Jakkapong said.
A court will decide tomorrow on whether the suspect, who was absconding, should be granted bail. The suspect has reportedly told investigators that his flight from Thailand was due to fears for his safety and previous threats of violence.
The Department of Special Investigation (DSI) has been assigned the cases involving financial damage and the recovery of funds allegedly taken out of the country by the suspect.
Chanin’s lawyer Ruangsak Suksiengsri said that his client had long intended to surrender to the justice system but had to flee to various countries due to fears of being harmed.
The lawyer believes that the recent arrest in Dubai was more of a voluntary surrender than a capture. The suspect plans to exercise his right to request bail and continue to fight the case legally.
The Stark fraud case was designated a special case by the DSI on June 20, 2023, involving 4,704 victims whose total damage is estimated at 14.778 billion baht. The government is urgently pursuing this case to restore confidence in the Thai stock market.
Previously, the DSI had prosecuted 11 suspects under the Securities and Exchange Act of 1992 for fraud against the public, as stipulated in the Penal Code, and for money laundering under the Anti-Money Laundering Act of 1999 and its subsequent amendments.
