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Sunday, May 12, 2024

Stark Corp fraud damage may reach B100bn, says DSI

DSI director-general Suriya Singhakamol said suspects in the Stark Corp fraud case will be named in two weeks. (Photo: DSI)

The Department of Special Investigation has impounded assets worth 100 million baht from listed wire and cable manufacturer Stark Corp and suspects total damage in the alleged fraud could reach 100 billion baht.

DSI director-general Suriya Singhakamol said on Wednesday that the department had already impounded Stark’s assets worth about 100 million baht and was looking for more.

The DSI took up the case of alleged fraud at Stark following revelations of suspected irregularities in its financial statements, which impacted on its bond return and share price.

“Damage was estimated initially at 35-50 billion…

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