A 24.3-million-baht apartment building in Chiang Mai belonging to a former executive of the Railway Club Cooperative has been seized as authorities expand an investigation into money-laundering linked with last year’s 2.8-billion-baht embezzlement in the cooperative.
The three-storey building, in tambon Nong Han of San Sai district, is owned by Prachuap Nakham who was among several former cooperative executives allegedly involved in the embezzlement scandal, said a source yesterday.
He allegedly used money obtained unlawfully from the cooperative to invest in the rental apartment business, which includes the plot of land that houses the building. The building was seized by the Department of Special Investigation which is probing acts of money laundering connected with the embezzlement, the source said.
Last November, the former chief executive of the cooperative…
