Poosana Preemanoch poses for photos in Bangkok in 2013 when he outlined IEC restructuring to focus on renewable energy. (Bangkok Post file photo)The Securities and Exchange Commission (SEC) has accused five companies and 20 people, including former executives, of embezzling 200 million baht from International Engineering Plc (IEC) during 2014-16. Among the accused was Poosana Preemanoch, a former IEC director. In one of the cases, IEC did not exercise its right to buy shares of Kokcharoen Green Energy Co (KE) at 45 million baht. Mr Poosana arranged for direct purchase worth 20 million baht and had others sell the shares for 70 million baht, the SEC said.

Source: Bangkok Post October 31, 2017 14:37 UTC