Eleven people have been sentenced in the Appeal Court to between three years and 20 years in prison for violating laws on securities and the stock exchange, in connection with the Bangkok Bank of Commerce (BBC) embezzlement scandal.
Ekkachai Athikhomnantha, former assistant to Krirk-kiat Jalichandra, the late ex-president of the now-defunct BBC; Wanchai Thamthitiwat, former director of the BBC's monetary management and international banking facilities office and assistant to Krirk-kiat; Pholphoj Tinmusik; Chatchai Boonyarat, chairman of the board of directors of Malee Group Plc; Yutthachat Boonyarat; and Direk Sriphiphat were each given 20 years in prison.
Phairoj Suengsil, former president of American Standard Appraisal Co, was sentenced to 15 years. Sunthon Ruangjarassathian was given a five-year jail term while MR Damrongdech Disakul, former senior executive with the bank's monetary management and foreign affairs office, Janthana Sukhumanon, adviser to Siam City Cement Plc, and Sakraphan Iam-ekdul were each given three years, three months and 25 days.
A source said some are in the process of seeking bail.
Previously, four cases associated with the BBC scandal have been ruled on in the Supreme Court, said the source.
In the first case, Krirk-kiat and Ekkachai were each given 20 years in prison and ordered to pay 1.8 billion baht in compensation to the BBC. Krirk-kiat, however, died during the court proceedings.
In the second case, Krirk-kiat and three others -- all BBC executives -- were found guilty of colluding with Rakesh Saxena, the bank's ex-financial adviser, in dishonestly approving sales of 90 million shares aimed at increasing in the size of its equity capital to two companies linked to Mr Rakesh.
The three are Jittasorn Pramot Na Ayutthaya, former deputy director of the BBC's president office; MR Damrongdech; and MR Suphanee Sarasin, former deputy director of marketing at the BBC. Each was given six years and eight months in prison, fined 666,666.66 baht and ordered to jointly pay US$85.7 million to the BBC.
In the third case, Krirk-kiat, MR Orn-anong Thephakham and Yaowalak Nittheeranon, former deputy director of the BBC's monetary management and international banking facilities office, were each given 20 years and fined 1.1 billion baht each.
The court found they caused a 1.2-billion-baht loss to the BBC through signing an asset swap contract with Development Finance and Investment Co.
They were also ordered to jointly pay 5.8 billion baht in compensation to the BBC.
In the fourth case, Krirk-kiat, American Standard Appraisal Co and Phairoj were found guilty of embezzlement and violating the laws on securities and the stock exchange. Krirk-kiat was given 20 years in prison, while Phairoj was sentenced to 10 years.
