BANGKOK -- In early June, Vonnarat Tangkaravakoon was led into a courtroom, barefoot and handcuffed. He sat hunched as evidence was presented in the criminal case against him and nine other defendants accused of defrauding investors of nearly 15 billion baht ($409.8 million), one of the largest fraud cases in recent Thai history.
Years of bogus sales and accounts receivable, combined with rising input costs, left the company unable to repay its debts in early 2023. (Nikkei montage/Source photos by Stark website)
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