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Thailand Asset Management Corp Offers Reward for Illegal Promotions.
Mar. 1--The Thai Asset Management Corp will offer a 500,000-baht reward for anyone with information to help prosecute people illegally promoting debt restructuring services.
The state agency has received numerous complaints from borrowers about third parties promising to help negotiate favourable restructuring terms for their debts with the TAMC.
Lt Yodchai Chusri, the TAMC president, said these "advisers" often offered guarantees to borrowers that they could arrange for their debt burden to be reduced.
"The TAMC, whether negotiating directly with borrowers or through a financial institution appointed by the agency, will consider each borrower ...
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Source: HighBeam Research, Thailand Asset Management Corp Offers Reward for Illegal Promotions.