Earlier, the SEC filed a criminal complaint against the 10 entities with the Department of Special Investigation (DSI) on account of fabricating financial statements, disclosing false information in the Registration Statement for debt securities offering and committing a fraud to gain assets of the exploited public, liable to be offenses under the Securities and Exchange Act B.E. 2535 (1992) (SEA). The 10 offenders are: (1) STARK, (2) Mr. Chanin Yensudchai, (3) Mr. Vonnarat Tangkaravakoon, (4) {A}, (5) Mr. Sathar Chantrasettalead, (6) Mr. Kittisak Jitprasertngam, (7) Phelps Dodge International (Thailand) Limited (PDITL), (8) Thai Cable International Company Limited (TCI), (9) Adisorn Songkhla Company Limited, and (10) Asia Pacific Drilling Engineering Company Limited.  

The SEC, with the approval of the SEC Board and by virtue of Section 267 of the SEA, has imposed an asset attachment order for a period of 180 days against the first group of offenders, i.e., the 10 entities above, because their offenses have broadly damaged public interests. Given that the damages from STARK’s liabilities exceed 38 billion baht, there is a reasonable ground to believe that the offenders might transfer or dispose of their assets.   

Additionally, the SEC Board has issued a temporary order prohibiting five of the offenders, namely (1) Mr. Chanin Yensudchai, (2) Mr. Vonnarat Tangkaravakoon, (3) {A}, (4) Mr. Sathar Chantrasettalead, and (5) Mr. Kittisak Jitprasertngam, from leaving the country for 15 days due to an urgent incident that raised suspicions that they might flee the Kingdom. The SEC will further file a petition with the Criminal Court for a longer-term prohibition on their departure.  

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