We're closing in on rumour-mongers : police

Somjate Itthiworrakul has admitted posting the items on his computer, but claimed he did not send them out on the Internet, said Tha-ngai Prassajarksattroo, commander of the Central Investigation Bereau.

"The items had been released through several channels, all through the Prachathai website. Somjate is a key suspect who is possibly aware of those behind [the rumours]," he added.

Tha-ngai said police had not found a connection between Somjate and two other people who have been arrested. Somjate has been released on Bt100,000 bail and is required to report himself to police in future appointments.

Meanwhile, well-known businessman Ekkayuth Anchanbutr praised Finance Minister Korn Chatikavanij's decision to alter Stock Exchange of Thailand regulations to tackle possible future manipulations of inside information for personal gain.

He called on Korn to check who had benefited from the plunge on October 14 as a result of rumours, especially in state-regulated funds including the Social Security Office and the Government Pension Fund.

Ekkayuth said the inspection should focus on which groups sold stocks en-masse before October 14 and bought them back afterwards. He said Korn was familiar with SET affairs and would know well how to identify those people. "But it depends on whether he has the guts to do it," he added.

Citing his own sources, Ekkayuth said he learned of a person identified as Jor who managed an overseas stock market and was a relative of powerful people living outside Thailand who had bought large quantities of stocks. "It is possible these people knew the government would dismiss the rumours the next day. These people made a Bt5-billion profit as a result of Jor's acts," he said, without further explaining.