Thai SEC Accuses Energy Absolute CEO and Deputy of Fraud and Corruption

Jul 14, 2024, 08:54 AM

The Securities and Exchange Commission of Thailand has formally accused the chief executive of SET-listed Energy Absolute (EA), Somphote Ahunai, and two others of conspiring in corrupt activities to seek undue benefits for themselves and/or others, causing damage to EA and its subsidiaries. Thailand’s market regulator has leveled allegations of fraud and corruption against the head of the renewables firm and his deputy, whose stock slumped last month, triggering a forced sale of shares by the founder. Energy Absolute will announce its new board on July 15.