Altogether 20 officials and executives of Sam Ko agricultural cooperative in Ang Thong province were rounded up from their homes before dawn on Tuesday by a combined force of police, military personnel and local administration officials for allegedly stealing 223 million baht from the cooperative.
Ang Thong provincial governor Veeravuth Putraseranee told a news conference at the Muang district police station that the mass arrest of the 20 cooperative officials and executives capped a thorough investigation after complaints were lodged with the police in 2015.
The massive embezzlement dated back to the year 2007 up to 2015. Altogether 239 members of the cooperative have fallen victim to the fraud gang which managed to siphon off 223 million baht from the cooperative through falsifying signatures of the victims to withdraw money or to obtain loans from the cooperative.
Pol Maj-Gen Anurak Limsangkart, the commander of Ang Thong police, said, actually 23 officials were implicated but three of them were already dead some time ago.
He said there were 795 cases pending against the gang members.
All the suspects denied the charges.
Source: Thai Public Broadcasting Service (Thai PBS)