The Stock Exchange of Thailand (SET) temporarily halted trading in Group Lease Plc (GL) shares on Monday after chief executive officer Mitsuji Konoshita was accused of corporate fraud and falsification.
The announcement said trading of GL had been suspended from the morning session of October 16 until the company can clarify the information and its effect to the SET.
The Securities and Exchange Commission (SEC) has filed a criminal complaint with the Department of Special Investigation (DSI) accusing Mr Konoshita of falsification and corporate fraud, rendering him unqualified to hold the position of director and executive of any issuing and listed company while a crimnal prosecution is under way.
According to the complaint lodged with the DSI, Mr Konoshita has engaged in dubuous transactions involving several companies overseas to exagerate the company's profits.
