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Bangkok Post
Bangkok Post
Business

SEC confiscates assets of Stark

SEC Stark Stark Corp Stark Corporation the Securities and Exchange Commission Chavinda Hanratanakool Vonnarat Tangkaravakoon DSI
Officers from the Economic Crime Suppression Division of the Central Investigation Bureau meet with about 30 people who filed a complaint against financially ailing Stark Corp and its executives on Tuesday to demand the return of their money invested in the company. (Photo supplied/Wassayos Ngamkham)

The Securities and Exchange Commission (SEC) has moved to confiscate the assets of Stark Corporation, as well as those of the company's largest shareholder and some former executives allegedly involved in falsifying accounts, in addition to prohibiting them from travelling abroad.

The regulator said it will freeze the assets of the scandal-hit wire and cable manufacturer and those of Vonnarat Tangkaravakoon, the company's largest shareholder and former acting chief executive, for 180 days.

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