Thai Hire-Purchase Firm Group Lease Faces More Chaos

Widespread fraud and looting of funds by Japanese former executive alleged

Group Lease PCL, a Thailand-based hire-purchase and microfinance firm that was once a high-flying darling of the Thai stock market, has lapsed into chaos with three of its five independent directors having resigned, its auditors refusing to sign off its accounts, a half-dozen top employees having been fired and shareholders stuck with untradeable suspen…