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Public prosecutor brings action in the Criminal Court against Mr. Chanin Yensudchai in the STARK case, resulting in an extension of the asset attachment until the court orders otherwise



Thursday 27 June 2024 | No. 128 / 2024



Bangkok, 27 June 2024 – The Securities and Exchange Commission (SEC) would like to inform the public that the asset attachment order imposed on Mr. Chanin Yensudchai, former director of Stark Corporation Public Company Limited (STARK), remains effective until the court orders otherwise pursuant to Section 267 of the Securities and Exchange Act B.E. 2535 (1992). The extension of the asset attachment is a result of the public prosecutor’s legal action against the former director of STARK in the Criminal Court under the Undecided Case No. Or. 1931/2567 on 24 June 2024 after the SEC filed a criminal complaint against 10 individuals with the Department of Special Investigation (DSI) on account of fabricating STARK financial statements, disclosing false information in the registration statement for securities offering, and committing fraudulent acts.   

Mrs. Pornanong Budsaratragoon, SEC Secretary-General, said: “In this case, government agencies involved in the enforcement procedure have integrated collaboration, leading to the arrest and legal action against the individual. Consequently, the asset attachment under Section 267 has been extended until the court orders otherwise. The public can rest assured that the SEC will strictly enforce action against all offenders in all cases, thereby strengthening trust and confidence in the capital market.” 

________________________

Remarks: Relevant news releases: 

1. SEC News Release No. 117/2023 headlined: “SEC orders asset attachment and temporarily prohibits 10 offenders in STARK case from traveling out of the country,” published on 6 July 2023:  https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=10737&NewsNo=117&NewsYear=2023&Lang=EN 

2. SEC News Release No. 262/2023 headlined: “Criminal Court orders extension of the asset attachment period imposed on nine entities under the criminal complaint in the STARK case,” published on 27 December 2023: https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=10394&NewsNo=262&NewsYear=2023&Lang=EN  

3. SEC News Release No. 78/2024 headlined: “Public prosecutor brings action against seven entities under criminal complaint in the STARK case, resulting in the continuation of the asset attachment until the court orders otherwise,” published on 11 April 2024: https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=10738&NewsNo=78&NewsYear=2024&Lang=EN 





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Building Confidence in the Capital Market
NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 128 / 2024 Thursday 27 June 2024
Public prosecutor brings action in the Criminal Court against Mr. Chanin Yensudchai in the STARK case, resulting in an extension of the asset attachment until the court orders otherwise


Bangkok, 27 June 2024 – The Securities and Exchange Commission (SEC) would like to inform the public that the asset attachment order imposed on Mr. Chanin Yensudchai, former director of Stark Corporation Public Company Limited (STARK), remains effective until the court orders otherwise pursuant to Section 267 of the Securities and Exchange Act B.E. 2535 (1992). The extension of the asset attachment is a result of the public prosecutor’s legal action against the former director of STARK in the Criminal Court under the Undecided Case No. Or. 1931/2567 on 24 June 2024 after the SEC filed a criminal complaint against 10 individuals with the Department of Special Investigation (DSI) on account of fabricating STARK financial statements, disclosing false information in the registration statement for securities offering, and committing fraudulent acts.   

Mrs. Pornanong Budsaratragoon, SEC Secretary-General, said: “In this case, government agencies involved in the enforcement procedure have integrated collaboration, leading to the arrest and legal action against the individual. Consequently, the asset attachment under Section 267 has been extended until the court orders otherwise. The public can rest assured that the SEC will strictly enforce action against all offenders in all cases, thereby strengthening trust and confidence in the capital market.” 

________________________

Remarks: Relevant news releases: 

1. SEC News Release No. 117/2023 headlined: “SEC orders asset attachment and temporarily prohibits 10 offenders in STARK case from traveling out of the country,” published on 6 July 2023:  https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=10737&NewsNo=117&NewsYear=2023&Lang=EN 

2. SEC News Release No. 262/2023 headlined: “Criminal Court orders extension of the asset attachment period imposed on nine entities under the criminal complaint in the STARK case,” published on 27 December 2023: https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=10394&NewsNo=262&NewsYear=2023&Lang=EN  

3. SEC News Release No. 78/2024 headlined: “Public prosecutor brings action against seven entities under criminal complaint in the STARK case, resulting in the continuation of the asset attachment until the court orders otherwise,” published on 11 April 2024: https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=10738&NewsNo=78&NewsYear=2024&Lang=EN