KCUC chief assets seized

KCUC chief assets seized

Some of the US dollar banknotes seized from the apartment. King-oua Laohong
Some of the US dollar banknotes seized from the apartment. King-oua Laohong

A large number of US$1 million banknotes and €1 million debentures were found and seized yesterday from three safes belonging to Supachai Srisuppa-aksorn, a key suspect in the 12-billion-baht embezzlement scandal of the Klongchan Credit Union Cooperative (KCUC).

The banknotes were found by the Department of Special Investigation (DSI) in an apartment owned by Mr Supachai, the KCUC's former chairman, in U Tower Building on Srinakarin Road, according to Pol Lt Col Somboon Sarasit, director of the DSI's Bureau of Special Crime 3.

Along with the banknotes and debentures were 10 promissory notes issued to Taiwanese nationals, including land title deeds, exchange bills and documents on lawsuits filed against Mr Supachai in 2013.

Other documents were related to a gold mine concession project, a logging concession in Xiangkhouang province of Laos and a project to construct a military drilling ground in exchange for 200,000 cubic metres of timber, Pol Lt Col Somboon said.

The DSI was still verifying the seized land title deeds, and authenticity of the banknotes and debentures. Any assets that belong to the KCUC will be returned while those belonging to Mr Supachai will be confiscated, he said.

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