It shook the market confident inevitably in addition to already economic woe amid political volatility when founder and president of Thailand’s top importer of luxury cars S.E.C. Auto Service Plc (SECC), Sompong Wittayaraksan, unexpectedly disappeared.

Many said this is beyond expected. Rumor has it that Sompong, who outwardly appears to be a polite businessman, is inwardly a cunning conman. He and a closest friend gave customers a fake car license plate while keeping the real one to apply for bank loan.

All the money generating from the forgery was reported spending in gambling and shares prices manipulation.

Brilliant businessman, Sompong was expected to be the winner of the government’s 4,000 energy-efficient buses project worth several billion baht that will be all rent from his company.

Despite the business’s bright future, S.E.C. has raised capital repeatedly. It added 400 million baht to working capital in the latest activity in October.

A couple months earlier, the company just raised 387 million baht in capital.

A person involved in the matter said that Sompong had added billion to his prosperity in doing so.

But where’s the money gone. It is possible that Sompong lost them all in gambling and stock prices speculations.

He was being forced to sell high-risk stocks and raised loan margin by several brokerage firms for several times recently.

When the fund was running out, Sompong tapped fresh funds by offering the company’s new shares to politician friends and wealthy investors. However, no new share were issued and transferred.

When an influential investor (mafia) approached, Sompong chose what is best for himself: disappeared.