Police surprised the man with the bad news at a car park in the Don Muang area of Bangkok this week and took him into custody on the basis of 15 arrest warrants issued in November and December 2010.
The past from 10 years ago caught up with a former bank loan officer from Kanchanaburi who signed up 15 farmers up to new loans but helped himself to a share of the funds at their expense. He was arrested on Wednesday on a series of old arrest warrants. Police also discovered the man was still in the business of securing bank funds through fraud using his insider knowledge of the system.
Thailand’s Crime Suppression police announced the arrest on Wednesday of a former bank loan officer at Don Muang in Bangkok. The arrest occurred in Prem Pracha village when officers confronted the man whose full identify and age have not yet been revealed. He appeared to be in his mid-thirties. The man was only named by police as Mr Ekkasit.
15 arrest warrants for fraud 10 years old old
He was arrested on foot of 10 warrants dating back nearly 10 years to his tenure in the Say Yok district of Kanchanaburi province as a bank loan officer. The man’s responsibilities included dealing with loan applications from farmers and ongoing relationships.
Repackaged the loans so that he took a cut
At that time, Mr Ekkasit entered into complicated verbal arrangements with farmers where loans were extended to them but they were told that further amounts would be paid at a later stage in a lump sum payment from the bank.
In effect, the banker took a share of the proceeds of the loans but altered the loan documents to his superiors to show a larger amount to fund his scheme. It is reported that he approached 50 people in all with such proposals and that 15 loans were granted with a total value of ฿5 million.
Exposed when irate customers contacted the bank
Inevitably, problems occurred at a later stage with the loan arrangements when farmers noted that the loan repayments and outstanding balances were in excess of what they had borrowed. Many contacted the bank and it was not long before Mr Ekkasit and his fraudulent scheme were exposed.
Used the money to fund a better lifestyle
In the course of a subsequent police investigation, the former bank employee admitted to the wrongdoing and told investigating officers that he had taken the money from his agrarian victims. He said that he had used the money to support himself and improve his lifestyle.
Absconded to Bangkok and evaded police for 10 years
Mr Ekkasit then moved to Bangkok and managed to somehow evade arrest warrants issued against him by the Kanchanaburi Provincial Court up until this Wednesday when police cornered him at a car park in Don Muang. His crimes had not been forgotten.
Still in the bank loans business, still a fraud
Police have also revealed that in the course of their investigations to track Mr Ekkasit down, they have discovered that he still has an interest in securing bank loans and was found to be in possession of and involved in the manufacture of false documentation for submission to banks.
It is reported that the bank did later agree to write off the debts against the 15 farmers after they hired a joint lawyer to represent them in potential proceedings against the institution.
Police warning about verification documents
On Wednesday, Thailand’s police warned the public to be vigilant about official documents used for verification when used for taking out loans or entering into contracts.
They should specify the details of the transaction and the contract involved or otherwise they can be used by unscrupulous people for criminal cross purposes.
The former bank officer, now in custody, will be sent back to Kanchanaburi province where legal proceedings will be commenced after his 10 years on the run.
Further reading:
High profile model arrested on fraud charges totalling ฿10 million in Bangkok by CSD police
German and Swede nabbed in raids by Thai police as authorities call time on paradise for fraudsters
