PUBLISHED : 30 Sep 2024 at 07:43
The Criminal Court has sentenced Bancha Chalapirom, former chairman of the Chulalongkorn University Savings Cooperative (CU Savings Coop), to five years in jail for embezzling more than 1.4 billion baht from the cooperative.
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PUBLISHED : 30 Sep 2024 at 07:43
The Criminal Court has sentenced Bancha Chalapirom, former chairman of the Chulalongkorn University Savings Cooperative (CU Savings Coop), to five years in jail for embezzling more than 1.4 billion baht from the cooperative.
The court ruled on Thursday that Bancha was guilty under Sections 353 and 254 of the Criminal Code and sentenced him to five years in prison. Bancha requested bail to appeal the case, which the court granted.
As of 2023, CU Saving Coop had 15,592 members, with total assets of 35.76 billion baht.
Of the figure, 25 billion baht was the investment, 5.48 billion baht was member loans, and 3.4 billion baht was loans to other cooperatives.
CU Coop’s liabilities amounted to 17.7 billion…