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Thai court issues new arrest warrant for Red Bull scion
Securities Lawyers |
2020/08/27 17:59
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A Thai court issued a new arrest warrant on Tuesday for an heir to the Red Bull energy drink fortune, a month after news of the dropping of a long-standing charge against him caused widespread anger.
Assistant National Police Chief Lt. Gen. Jaruwat Waisay confirmed that Vorayuth Yoovidhya, commonly known by the nickname “Boss,” faces charges of causing death by negligent driving and use of a narcotic substance.
“This was the recommendation by the police committee investigating the case," he said by phone. "We are confident that we can move forward on this, otherwise this decision would not have been made.”
Vorayuth is the grandson of Chaleo Yoovidhya, one of the creators of the globally famous Red Bull brand. Forbes puts the family’s net worth at $20 billion.
Around dawn on Sept. 3 , 2012, Vorayuth was at the wheel of a Ferrari that struck the back of a traffic policeman’s motorcycle on a main Bangkok road. The officer was flung from his motorbike and died at the scene, while Vorayuth drove home.
The family does not dispute he was the driver but says the policeman caused the crash by veering suddenly across his path. A forensic examination at the time put his speed at around 177 kilometers (110 miles) per hour in an 80 kilometers (50 miles) per hour zone, and medical tests allegedly found traces of cocaine in his bloodstream.
For years Boss avoided court by not turning up to meet prosecutors. Meanwhile, the number of charges against him dwindled due to the statute of limitations.
After an AP investigation revealed that he was continuing to live a globetrotting life, using private jets to party around the world and staying in the family's luxurious properties, authorities finally issued an arrest warrant for causing death by reckless driving in April 2017. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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