Real estate developer Anant Asavabhokhin, who faces money-laundering charges over land sales tied to an embezzlement case, has resigned from the companies he founded. In a separate letter to the SET, Sasitorn Phongsathorn, president of LH Financial Group Plc, advised that Mr Anant had resigned as chairman and director of LH Financial Group Plc and Land and Houses Bank Plc, effective from May 19. Supachai is currently serving a 16-year jail sentence after admitting to siphoning huge amounts of money from KCUC accounts in 2013. The 46 rai was sold on Dec 23, 2011 to Mr Anant for 93.7 million baht, well below the estimated value of 281 million baht, the DSI's initial investigation concluded. Mr Anant later sold the land for 492 million baht and allegedly donated 303 million baht of the money to the Chan Khonnokyoong Foundation, overseen by the founder and former abbot of Wat Dhammakaya, Phra Dhammajayo.

Source: Bangkok Post May 22, 2017 09:00 UTC