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Former chief executive of Thai's Stark Corporation arrested, to face money laundering, fraud charges

( June 25, 2024, 06:49 GMT | Official Statement) -- MLex Summary: The former chief executive of embattled Thai-listed Stark Corporation, Chanin Yensudchai, has been arrested after almost a year on the run over his alleged involvement in one of the country's largest cases of embezzlement and accounting fraud. The Ministry of Justice's Department of Special Investigation turned him over to public prosecutors yesterday to face charges including money laundering, fraud and embezzlement. The scandal at the company, an industrial cable manufacturer, is estimated to have involved over $400 million worth of irregular transactions. The statement, in Thai, is attached....

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