Businessman files a complaint with the Anti-Money Laundering Office (AMLO) to investigate a famous bank for providing unusual loans.

Businessman files a request to the AMLO to investigate a famous bank for irregular lending, resulting in a debt of 500 million baht, causing business losses of several billion baht. At the Anti-Money Laundering Office (AMLO), Mr. Paisarn Ruangrit, a lawyer, brought his business client, a victim, to submit a letter to the AMLO Secretary-General to investigate irregular lending by a large bank. Mr. Peerathorn Wimollohakarn, Director of the Inspection and Suppression Division and Deputy Spokesperson of the AMLO Office, was the representative to receive the case. Lawyer Paisarn said that his client, who is a businessman, had his documents and seal forged by a joint venture company, which was used to borrow money from the said large bank. The loan was granted for hundreds of millions of baht, causing his client to be in debt for up to 500 million baht without borrowing, and was badly damaged by the credit bureau, unable to bid for other projects worth billions of baht. The bank did not check the documents used by the joint venture company for the loan. In addition, when the loan was approved, it opened a subsidiary company and transferred the credit line to the subsidiary company, with the bank as a shareholder. Therefore, he would like the Anti-Money Laundering Office and the Bank of Thailand to investigate because when ordinary people want to borrow money from financial institutions, there are still many steps of verification that are still not approved, so people have to borrow outside the system. However, the lending of money by this famous bank is irregular and information has been found to be a network. Therefore, he would like an investigation to see if it is involved in money laundering. While Mr. Wongwarit, a businessman who was damaged by the said bank, said that his company opened an account with the said bank in 2016 and had previously made a joint venture contract with a company, which ended in November 2018. However, in 2019, he found out that the joint venture company had forged the seal of the docu ments that they had previously made to borrow money from that large bank. He had never been informed or contacted by the bank, and had never signed anything in the loan contract. However, when he went to apply for other jobs, he just found out that he was in the credit bureau and owed the bank 500 million baht. When he asked the creditor bank, he found out that it was a joint venture company that had previously signed a contract and used the documents to borrow money, without the bank doing any verification or checking. The court has assigned a lawyer to sue the bank, its officers, and the joint venture company. It will also ask the Bank of Thailand how the loan ended up in the group of companies in which the bank holds shares. There is also information that there are many other companies that the large bank has irregularly lent to in this way, and some of them have had to go bankrupt. However, it is believed that many companies will file a lawsuit. -119-Thai News Agency Source: Thai News Agency