16-8-2023 (BANGKOK) Prominent political activist and whistle-blower Chuvit Kamolvisit made serious allegations on Tuesday, claiming that property developer Sansiri Plc had used a housekeeper and a security guard as nominees to secure a 1-billion-baht loan from one of its subsidiaries. The loan was allegedly utilized to purchase land in Bangkok’s Thong Lor area.
Chuvit hosted a press conference to expose what he believes to be shareholding fraud at Sansiri, particularly during the tenure of its former CEO, Srettha Thavisin, who is currently a candidate for prime minister under the Pheu Thai Party.
According to Chuvit, Sansiri employed the services of the housekeeper and security guard as nominees to obtain the loan from its subsidiary, which was then used to pay the landowner 565 million baht. However, Chuvit claimed that the purpose of the remaining funds remains unknown.
The housekeeper, identified as Ms. Pinit (surname undisclosed), resides in Maha Sarakham province. She was discovered to hold 99% of the shares in the subsidiary, but there is no recorded evidence of her fulfilling corporate tax obligations.
The security guard, named Mr. Somsak (surname also withheld), owned 1% of the company and was listed as a board member of five other firms, including a transport service company associated with another Sansiri project.
Chuvit further revealed that the subsidiary was abandoned by Sansiri after the land transaction took place.
In light of these revelations, Chuvit raised concerns regarding Srettha’s suitability to serve as the next prime minister, considering his alleged reliance on nominees.
“I will urge the Stock Exchange of Thailand to investigate Sansiri’s governance, and I will request the Senate to scrutinize Mr. Srettha’s qualifications [for the position of PM],” Chuvit stated.
Phumtham Wechayachai, the deputy leader of the Pheu Thai Party, assured that Srettha’s qualifications would be thoroughly reviewed in accordance with relevant regulations.
Wechayachai expressed confidence that the Pheu Thai Party could secure more than the required 375 votes for Srettha to assume the role of prime minister and for the party to form a new government. He also revealed ongoing discussions with the Palang Pracharath Party and United Thai Nation Party regarding potential coalition partnerships.
Last week, Srettha filed a defamation lawsuit against Chuvit, seeking 500 million baht in damages, following comments made by the activist regarding another land transaction involving Sansiri. Chuvit insinuated that Sansiri had attempted to evade tax payments.
