Surat Tawatsanont, an official of the Cooperatives Promotion Department, posts the closure order at Khehasathan Noppakao Ruamjai Cooperative in Muang district, Pathum Thani, on Monday. It is suspected the missing money may also be linked to academic Sawad Saengbangpla, the former chairman of the Chulalongkorn University cooperative charged with over a fraudulent lottery scheme. Directors of the Khehasathan Noppakao Ruamjai Cooperative would face embezzlement charges, he said. Earlier, there had been deposits of 5.51 billion baht. He said the cooperative's remaining land had been appraised at 6.9 billion baht, but his department found the worth to be only 1 billion baht.

Source: Bangkok Post May 18, 2017 09:00 UTC