Thai auto importer and distributer, SEC Auto, listed on the Thai stock exchange in 2006. In November 2008, the SET asked SEC Auto to clarify media reports that its chairman had fled the country. Although this was subsequently denied, the company's share price collapsed. In December, the SET suspended the company's shares pending the release of a special investigation report. Later that month, the published report disclosed that a large number of cars either did not exist or had been confiscated by the company’s creditors. There were also suspicions that executives had siphoned cash out of the company. A subsequent investigation found that the company had faked 50% of FY07 profits. 

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