The Securities and Exchange Commission (SEC) has filed charges against the largest shareholder and others involved in the management of Stark Corporation Public Company Limited, the industrial cable maker at the centre of an accounting scandal and debt default.
The Bangkok-based SEC filed charges of financial misconduct against 10 combined entities and individuals, including Stark’s largest holder Vonnarat Tangkaravakoon, with the Department of Special Investigation (DSI), according to the regulator’s statement.
The charges come after Stark faced a criminal investigation and also a class-action lawsuit following its revelations of irregularities in past accounting. Restated financial results showed it made…
