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January 19, 2016
Businessman arrested, damages alleged to exceed BT2.5 billion.
THE PRESIDENT of Thai Premier League soccer club Police United has been arrested over allegations of embezzlement and issuing dud cheques - racking up a damage bill of more than Bt2.5 billion in the process, police said yesterday.
Businessman Samrit Bunditkrit-sada, 41, known as "Sia Big", was taken to Metropolitan Police headquarters yesterday, where he was made to appear at a press conference.
Metropolitan Police caretaker commander Lt-General Sanit Mahathaworn, who interrogated Samrit, said the accused admitted some of the allegations made against him but denied others.
Samrit was charged with colluding to falsify and use fake promissory notes, colluding to embezzle, and issuing bad cheques, Sanit said.
He was arrested in Ayutthaya on Sunday on a Criminal Court-issued arrest warrant dated January 15.
Police said he was involved with an irregularity, allegedly committed between 2013 and 2014, involving financial transactions between his Billion Innovated Group and the Education Ministry's Welfare Promotion Commission for Teachers and Educational Personnel.
He is accused of borrowing money illegally from the teachers' pension fund amounting to more than Bt2.5 billion.
Police claimed that Samrit admitted to being involved in financial transactions with the teachers' welfare commission and took out Bt2.1 billion from the fund.
"He said details of certain transactions might not be exactly reported in line with the truth, which may have caused damage to the Welfare Promotion Commission for Teachers and Educational Personnel," Sanit said.
Police said Samrit would be brought to the Criminal Court today so they could apply for him to be detained pending the completion of the investigation.
Samrit's lawyer Sa-ala Kumuda said police did not summon the businessman about this case. "He didn't know a warrant had been issued for his arrest," the lawyer said.
Samrit maintained he did not commit the alleged wrongdoings, according to the lawyer.
The businessman said Billion Innovated Group had invested Bt6.5 billion in a solar power plant in Phetchaburi. He claimed the teachers' welfare commission offered to invest Bt2.1 billion in the project.
However, some executives of the commission filed a police complaint against him, alleging he encouraged bureaucrats to commit a wrongdoing.
The money was allegedly borrowed from the fund against the stated objectives.
Samrit, who also owns Promise Insurance Company, raised his profile two years ago when he agreed to become president of Police United, which plays in the country's top-flight soccer division.
His stock rose further when he got involved in the takeover bid for English second-tier club Reading. However, doubts were later raised over his exact role in the Thai consortium's bid for the Royals.
It only became clear a year after the takeover was completed that Samrit pulled out of the deal at the last minute.
Last week, Samrit was in the headlines again when it was reported that he was in talks with famous rock singer Seksan Sukpimai, better known as "Sek Loso", over the sale of his financially troubled Police United.
The club won promotion to play in TPL again for the upcoming season after only one season in the second-tier league.
However, it has reportedly failed to pay players' wages for five months.
nationmultimedia.com
That would be SO silly.
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