The SEC accuses former ADAM’s Directors and Companion in Malpractice.
17-4-2019–Today, SEC accuses the former director of Adamas Incorporation Public Company Limited (ADAM) and the 8 members of the Department of Special Investigation. In the event of committing fraud to ADAM to purchase all ordinary shares of Kitha Properties Company Limited (formerly Siralai Company Limited), causing ADAM to be damaged
The SEC accuses the former director of Adamas In Corporation Public Company Limited (ADAM) and the group of 8 people, including (1) Mr. Boon Piem-Eamroongroj (Chairman of ADAM Company during the incident) (2) Mr. Chinnawat Chinsaengaram (ADAM Director during the incident) (3) Mr. Sarawut Phumthavorn (Independent Director and ADAM’s Audit Committee during the birth Reason) and 5 other people, namely (4) Mr. Nithamon Hadsadin Na Ayudhya (5), Mr. Apichart Chansakulporn (6), Miss Bongkorn Chansakornporn (or the name of the incident) Miss Thanyaporn) (7) Mr. Sorawit Chansakulporn and (8) Mrs. Suda Khun Chak in the case of mutual wrongdoing in order to allow ADAM to purchase all ordinary shares of Kitha Pro Property Co., Ltd. (Kitha Co., Ltd.) in 2014, became a fraudulent subsidiary of ADAM, despite knowing that during that time Kitha was a related company and was between the Anti-Corruption Commission and National Corruption Suppression Litigation division In case of suspected fraud, rice pledging scheme and rice drainage and incomplete qualifications of being a listed company in the Stock Exchange of Thailand With the objective of money laundering
However, such action caused ADAM to be damaged. By the Chan Sakulporn family group Which consists of Mr. Apichart, Miss Bongkorn and Mr. Sorawit, benefiting from the use of the mechanism of the SET. In the transition, the owner of Kitha Co., Ltd. from the former owner, the Chan Sakulporn family, came to be ADAM, which is a publicly listed company with shareholders. Meanwhile, the Chan Sakulporn family group Has changed the condition of the assets, which is the shares of Kitha Co., Ltd., which is ADAM shares, which has liquidity in trading in the stock market instead, with step-by-step planning Including the use of the power of the Board of Directors to sign a contract to buy shares of Kitha. At the same time, using the Nominee account to buy ADAM shares in order to obtain a majority in the business dominance of the company. And exercising the right to add agenda on the date of the extraordinary shareholders’ meeting And agreed to buy such shares Causing the contract to purchase such shares immediately binding
The actions of the former ADAM committee members and the 8 members of the aforementioned parties are considered to be an offense under the law in which the person (1) (2) and (3) are guilty of the offense under Section 307 and Section 311 of the Securities and Exchange Act 1992 with persons under (4) (5) (6) (7) and (8) providing assistance to support the wrongdoing Entering the offense under Section 307 and Section 311, comprising Section 315 of the Securities Act, as the case may be. In addition, persons under (6) and (7) have jointly controlled and / or used securities trading accounts of other persons as true beneficiaries. Including buying and holding ADAM securities that increase or decrease by more than 5 percent and together up to 25 percent or more of the total voting rights of the business Without reporting and making a tender offer as required by the law, the SEC therefore blamed all 8 individuals to the Department of Special Investigation To consider further legal proceedings With the above accusations resulting in the accusation being characterized by a lack of trust in being a director and an executive of a securities issuing company and a listed company, according to the SEC announcement, therefore unable to be a director and Executives of companies that have listed securities throughout the period of accusation
The SEC’s accusation is only the beginning of the criminal law enforcement process. Under this process Consideration of whether any person is an offender is a step in the power of the investigation of the Department of Special Investigation. And the prosecution’s order As well as the discretion of the judiciary, respectively
