The move comes after the KCUC received Bt34.75 million in compensation from Supachai during the appeal, said Supachai’s lawyer Wanchai Boonnak on Friday.

Supachai, 60, was sentenced to 32 years in jail in March for siphoning money on eight occasions from April to October, 2013.

The sentence was then reduced to 16 years because Supachai – who had been in detention at Bangkok Remand Prison since his arrest – retracted his initial plea of innocence and confessed to the crime in court.

Citing a court session in late March in which public prosecutors objected to the KCUC’s agreement to settle with Supachai, Wanchai said he argued that this was a compoundable offence as the case wasn’t yet finalised.

Supachai also faces three other cases of alleged embezzlement and fraud, resulting in losses of Bt20 billion, while another 10 cases were being probed under the Department of Special Investigation, Wanchai said.

Even if Supachai were released, investigators in other cases would ask for his detention and bail could be at least Bt20 million, the lawyer said.