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Prosecutors Asked to Drop Fraud Case against Thailand Bank Executives.
Aug. 1--Police have recommended that prosecutors drop a fraud case against Som Jatusripitak and several other former executives of Siam City Bank.
Sources said the decision not to pursue a case against the elder brother of Finance Minister Somkid Jatusripitak was made quietly some months ago by investigators.
"We have notified the Attorney-General's Office of our findings that there is no standing in the case. It now depends what the prosecutors want to do next," a police official said yesterday.
A prosecutor in the Attorney-General's Office confirmed that the police had recommended the case be dropped, but said it was still under review.
The bank of Thailand accused Dr Som and 11 other SCIB executives in October 1999 of fraud, banking and securities violations leading to 926 million baht in damages.
The central bank said the executives, including Dr Som, the former bank president, had abused their authority for personal gain.
One former SCIB executive implicated in the case said the police had told him that the charges had been dropped "due to a judgement by investigators that the evidence was unclear on whether the executives had intended to cause damage to the bank".
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