Thai stock regulator files fraud charges over troubled Stark

Company to face further investigation as SEC continues to probe wire maker

Thailand's Stark said last week that it was negotiating with creditors to swap debt for equity instead of accelerating debt repayment. (Source photo and logo from Stark website)

APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writer

July 6, 2023 19:12 JST

BANGKOK -- Thailand's Securities and Exchange Commission (SEC) has filed fraud charges against 10 people over alleged financial misconduct involving troubled electrical wire maker Stark.

The 10 include Stark's largest holder, Vonnarat Tangkaravakoon, as well as former Chairman Chanin Yensudchai and former Chief Financial Officer Sathar Chantrasettalead, according to a statement from the regulator.