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Bangkok Steel brass face criminal complaint from SEC.
Dec. 2--The Securities and Exchange Commission yesterday accused Prasert Tangtrongsakdi, the chairman of Bangkok Steel Industry, and two other company directors of failing in their fiduciary duties and filing incorrect financial statements.
The SEC filed a criminal complaint against Mr Prasert, Kris Khemadham and Sangchit Laohathai with police investigators yesterday.
From 2001 to 2002, regulators said, the three were involved in pressing for a capital increase at three BSI subsidiaries despite the fact that there was no need for new funds. Rights to subscribe to the new shares issued by the subsidiaries by BSI were not exercised.
The SEC said ...
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Source: HighBeam Research, Bangkok Steel brass face criminal complaint from SEC.