Officers also objected to his release on bail on the grounds that the charges could carry more than three years in prison and involved significant financial damages, while the suspect might tamper with evidences or flee.

The court was on Thursday considering Panusak’s lawyer application for Bt5-million bail.

Panusak was arrested on a public fraud charge on Wednesday afternoon outside the Central Criminal Court for Corruption and Misconduct Cases after he filed a suit against the Department of Special Investigation over May 24 raids on his showrooms, in which more than 30 vehicles were seized.

Following the arrest, CSD deputy chief Pol Colonel Jirapop Phuridech said the arrest warrant on fraud charge was issued on Tuesday over a complaint filed by a customer who bought a Bt8-million Porsche from the suspect’s firm but had problems with Customs and the police.

Jirapop had said more fraud charges would be filed soon.