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Thai businessman, leader accuses politicians of manipulating bank's securities.

Bangkok Post (Bangkok, Thailand)

| September 07, 2004 | COPYRIGHT 2004 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Sep. 7--Ekkayuth Anchanbut, the chairman of the UK-based Oriental Mart Group and leader of the new Prachatham Party, yesterday accused local politicians of manipulating securities of Siam City Bank to raise funds ahead of the general election.

Similar price manipulation had taken place involving securities of at least 10 listed companies including politically linked firms in the property, entertainment and communications sectors and involving investor losses of more than 100 billion baht, he alleged.

Securities regulators said, however, that no price manipulation had been detected in the case of SCIB warrants, but that they were ready to further ...

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