Major shareholder and associates facing fraud and money-laundering charges
The Anti-Money Laundering Office (Amlo) is preparing to seize assets worth nearly 4.5 billion baht from More Return Plc (MORE) in a follow-up to regulatory and criminal investigations into irregular trading in its shares last year.
Amlo has asked prosecutors to file a court motion to confiscate the assets of Apimuk Bamrungwong, the fourth-largest shareholder of MORE, in addition to his group’s assets, said Theppasu Bavornchotidara, the deputy secretary-general of the agency.
The filing alleges that Mr Apimuk and his group committed fraudulent acts under the Criminal Code, described as a “predicate offence” under Section 3 (18) of the Anti-Money Laundering Act of…
