Major shareholder and associates facing fraud and money-laundering charges
Shares of More Return Plc (MORE) fell after the Anti-Money Laundering Office (Amlo) moved to confiscate 4.5 billion baht worth of assets from people involved in allegedly fraudulent transactions last November.
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 acting secretary-general of the agency.
The filing alleges 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 1999.
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