Thai police make third arrest in stock rumour probe

Police in Thailand said on Wednesday that they had arrested a third person on suspicion of spreading rumours about the health of the country's 81-year-old king that triggered a slide in stock prices.

Somjet Itthiworakul, a 38-year-old snooker club owner who also organises trips to border casinos, was arrested late on Tuesday in Chon Buri province, 100 km (62 miles) east of Bangkok, after posting comments on Thai website Prachatai.

"He admitted he had posted messages on the website," said Police Commander Tha-ngai Prasajaksatru, head of Thailand''s Central Investigation Bureau. "We've found that there is information linking the suspect to the two previously arrested. They''ve been posting messages back and forth on that website," he said.

Thai stocks plunged 7.2% on Oct. 14-15 as rumours circulated over the health of the king, who has been in hospital since Sept. 19. The palace says he is getting better and he appeared in public in the hospital grounds on Monday.

King Bhumibol Adulyadej, the world's longest-reigning monarch, is regarded as semi-divine by many of the country's 67 million people. His health is a sensitive topic in financial markets because he is seen as the sole unifying figure in a politically polarised country with a long history of coups and upheaval.

Strict lese-majeste and national security laws make comment on royal matters risky. On Sunday, police arrested then freed on bail two people on suspicion of spreading rumours about the health of the king. Tha-ngai did not reveal the content of the messages Somjet had posted on Prachatai, a website that lists press freedom as one of its main objectives.

Tha-ngai said police were still gathering evidence and would seek more arrest warrants from the Criminal Court in the next few days. Somjet was released on bail but is banned from travelling overseas, Tha-ngai said, adding that his computer had been confiscated.

All three suspects have been charged under the 2007 Computer Offence Act covering the posting of false computerised information that causes harm to national security and the public. They face up to five years in jail and a 100,000 baht ($3,000) fine if convicted.

The Department of Special Investigation (DSI), which comes under the justice ministry, is also conducting an inquiry into possible stock trading irregularities, which it expects to complete in late November.