DSI, Cooperative Promotion Department and Nang Loeng Metropolitan Police Station jointly searched and seized property in money laundering case related to corruption in the Savings and Credit Cooperative Limited of the Ministry of Agriculture and Cooperatives

DSI, Cooperative Promotion Department and Nang Loeng Metropolitan Police Station jointly searched and seized property in money laundering case related to corruption in the Savings and Credit Cooperative Limited of the Ministry of Agriculture and Cooperatives

       Today (Tuesday, May 24, 2022), Mr. Triyarith Temahivong (Director-General), accompanied by Pol.Maj. Yuthana Praedam (Deputy Director-General), Mr. Rawee Acksornsiri (Head of Center Against Criminal Proceeds Laundering) and his special case inquiry official team, joined forces with Mr. Prakob Paopong (Deputy Director-General of the Cooperative Promotion Department), Pol.Col. Somyot Udomraksasab (Superintendent of Nang Loeng Metropolitan Police Station), and police officers of Nang Loeng Metropolitan Police Station to search 6 target locations, namely, 2 residence locations in Pathum Thani Province, 2 restuarant and diner locations in Pathum Thani Province, and 2 hotel locations in Samut Songkhram and Phetchabun Provinces, to gather evidence and seize/confiscate property related to corruption in the Savings and Credit Cooperative Limited of the Ministry of Agriculture and Cooperatives for special case proceedings.

       The said search and confiscation resulted from the inquiry officials of Nang Loeng Metropolitan Police Station accepting a criminal case for inquiry, the case of corruption in the Savings and Credit Cooperative Limited of the Ministry of Agriculture and Cooperatives regarded as a criminal offence of theft from employers and discovered the embezzlement of over 600 million baht of the Cooperative in multiple acts committed on a regular basis, regarded as a predicate offence under Section 3 (18) of the Anti-Money Laundering Act, B.E. 2542 and its amendments. Investigation of the DSI revealed that the money embezzled from the Cooperative was spent for buying lands, operating business of various resorts, lodgings, restaurants and diners, as well as a large number of luxury cars and other property. The money spent for investing in securities or other investment units was also found. This action is likely to be the converting of property into other forms to conceal its sources, which is the offence of money laundering under Section 5 of the Anti-Money Laundering Act, B.E. 2542 and can be regarded as a special case. Therefore, the DSI accepted the case, as its special case no. 237/2565, to investigate, inquire and seize/freeze the property obtained from wrongdoings. Further investigation and inquiry into this case will be conducted for prosecution against the offenders.

       From the searches at the said 6 locations, the team found property, namely, 8 parcels of land of approximately 61 Rais, a Peugeot Bipper van, a Hyundai H-1 van, a Porsche Cayenne car, multiple brand-name bags and luxury watches. The value of all property seized/frozen was approximately 300 million baht. The DSI will further investigate to track additional property.

Dated May 24, 2022