More than 200 angry members of an agricultural cooperative laid siege to Chang Phueak Police Station in Chiang Mai on Friday demanding to know where their farmers‘ a hundred million baht has gone.
Members of the San Pa Tong Agriculture Cooperative declare that greater than a hundred million baht (US$2.eight million) deposited with a “reputable bank” has vanished from their account.
The farmers have made three attempts to negotiate with the bank, however all to no avail, and so had no alternative but to take the matter to the police.
Almost 200 farmers seized management of the police station until the station’s chief Pol Col Kittipong Petchmunee, agreed to help them with their case. He said…
“San Pa Tong Agricultural Cooperative says the bank has mysteriously lost the farmers’ a hundred million baht. We will launch an investigation and take action as quickly as possible.”
The cooperative’s president Chaiwised Deesuwan and manager Suchitra Mano led 200 members from San Pa Tong district into the town on Friday to observe up on a grievance made last Sunday. He mentioned the cooperative’s account now only has 4,000 baht left.
Chaiwised complained that about 10,000 members of the cooperative have misplaced their cash.
Suchitra mentioned the “reputable bank” had contacted the cooperative two years previously, providing an interest rate of three.8% for deposits. She mentioned the cooperative decided to move some 70 million baht to the financial institution because it believed the upper interest rate could be good for its members.
Besides, she said, the cooperative didn’t assume even think about the chance that the farmers’ 100 million baht would merely disappear. The financial institution is a big one and really well-known.
Suchitra added that the deposit of greater than 70 million baht ought to have grown to round 104 million baht by now on the rate of interest provided.
Chaiwised said the disappeared cash could have perhaps devastating results on some 10,000 cooperative members. He also insisted that the cooperative had not made any withdrawals. Because Classified of its funds had been transferred to the bank, the cooperative had misplaced out on many alternatives.
The financial institution has apparently agreed to take duty for the farmers’ 100 million baht, but has set no deadline for returning the money.
Chaiwised said the bank is yet to provide any particulars on how the money went missing..