Bangkok, December 26, 2014 ? The Criminal Court sentenced three ex-DAIDO executives, namely Shisiro Fukuda, a former president , Pisan Jaraslertrangsi, a former vice president-finance and accounting, and Kanchanok (or Natchaporn Likitsirisap or Rassarin Surapattanapaisan), a former vice president?project management, for collusively falsifying documents and accounts and defrauding DAIDO assets. In addition, Budget Management and Design Co., Ltd., Montian Pongkiatkong and Chai Pongthanawaranont (or Kittiwut Athawatanat) were also convicted as aiders or abettors. 

On October 4, 2005, the SEC filed a criminal complaint with the Department of Special Investigation (DSI) against Shisiro, Pisan and Kanchanok (or Natchaporn or Rassarin), for falsifying documents and accounting records in the DAIDO financial statements for the year 2002 and for the 1st and 2nd quarters of 2003 and thus misled shareholders and investors about DAIDO?s true financial condition. The said actions were in contravention of Section 312 of the Securities and Exchange Act B.E. 2535(1992) (SEA) in conjunction with Section 83 of the Penal Code.  The DSI and public prosecutors probed into the case and decided to pursue charges against them together with other three aiders or abettors, namely Budget Management and Design Co., Ltd., Montian, and Chai (or Kittiwut). Other than Section 312 of the SEA, they were charged on fraud, embezzlement and forgery in contravention of Sections 307, 308, 311 and 315 of SEA and Sections 264 and 268 of the Penal Code.   

The Criminal Court, on October 28, 2014, ruled that Shisiro, Pisan and Kanchanok (or Natchaporn or Rassarin) were guilty for violating Sections 307, 308 and 311 (1) (2) (3) of the SEA and Sections 264 and 268 in conjunction with Sections 83 and 86 of the Penal Code while Budget Management and Design Co., Ltd., Montian and Chai (or Kittiwut) were guilty for aiding or abetting document falsification. However, as all the defendants pleaded guilty, the Court reduced the punishments by half according to Section 78 of the Penal Code. Accordingly, Shisiro was convicted on 11 counts with a total of 12-year and 66-month imprisonment and a fine of 1,507,500 baht; Pisan and Kanchanok (or Natchaporn or Rassarin) were each convicted on 9 counts with a total of 10-year and 54-month imprisonment and a fine of 1,256,000 baht; Budget Management and Design Co., Ltd. was convicted on one count with a fine of 1,000 baht; and Montian and Chai (or Kittiwut) were each convicted on one count with a 4-month imprisonment and a fine of 1,000 baht. The infliction of the imprisonment was suspended for a period of two years because the confession and damage relief were considered extenuating circumstances.