The NACC handed over gold bars worth 1.5 billion baht, equivalent to 20,976 baht in weight, to the Ministry of Finance after a Supreme Court ruling related to tax fraud.

Key Points

• On February 27, 2026, Surapong Intharathaworn, Secretary-General of Thailand’s National Anti-Corruption Commission, transferred gold bars valued at 1.5 billion baht to the Ministry of Finance, following a Supreme Court ruling confirming the gold belonged to a former Revenue Department chief involved in tax fraud.
• The NACC found that Satit Rungkasiri improperly accumulated wealth through gold purchases from Hua Seng Heng Commodities Co., Ltd. The gold was ruled as the state’s property due to its ill-gotten nature.
• This case is linked to a 4-billion-baht tax fraud investigation implicating at least 10 individuals, including civil servants. Satit Rungkasiri was sentenced to prison, and the gold bars are now officially part of the nation’s assets, concluding the high-profile investigation.

Handing Over of Gold Bars

On February 27, 2026, Surapong Intharathaworn, Secretary-General of Thailand’s National Anti-Corruption Commission (NACC), presented 20,976 baht of gold bars worth 1.5 billion baht to the Ministry of Finance. This handover was mandated by a Supreme Court ruling in case 1256/2567, which confirmed that the gold belonged to the former chief of the Revenue Department. The bars were seized as a result of a major tax fraud investigation, demonstrating the government’s commitment to combat corruption and uphold lawful conduct in public service.

Background on the Tax Fraud Case

The NACC’s previous investigation revealed that Satit Rungkasiri, while serving as director-general of the Revenue Department, had amassed wealth through improper means, particularly through the purchase of gold bars from Hua Seng Heng Commodities Co., Ltd. These assets were classified as ill-gotten gains and were ultimately ruled by the court to belong to the state. This case is part of a broader 4-billion-baht tax fraud investigation implicating at least 10 individuals, including both civil servants and private sector members. Previously, Rungkasiri had been sentenced to prison for his involvement in the fraudulent activities.

Closure of the Case

With the formal transfer of the gold bars, this high-profile case reaches its conclusion, officially adding the bars to the nation’s assets. This event signifies a critical step in demonstrating the government’s efforts to address corruption within its ranks and reaffirms the judicial system’s role in holding individuals accountable. The NACC’s actions reflect a robust approach to ensuring public trust and fostering integrity across governmental operations, illustrating Thailand’s commitment to tackling corruption proactively.

Source : NACC returns 1.5 billion baht in gold seized from tax fraud case to Ministry of Finance

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Overview The ASEAN region is currently undertaking a massive overhaul of its energy systems to balance rapid economic growth and rising energy demand with the urgent need for deep decarbonization. To achieve a just and responsible energy transition, Southeast Asian nations must address a significant investment gap and the “energy trilemma” of security, affordability, and sustainability.

Key Points

• ASEAN is the world’s fourth-largest energy consumer, with energy demand and carbon emissions both growing at an annual rate of 3%, which is significantly higher than the global average.
• The region faces a massive investment gap, requiring an estimated $150 billion annually in clean energy funding by 2030, while currently attracting only about $30 billion per year.
• Geographical and economic vulnerabilities, such as exposure to rising sea levels and agricultural dependence, make the transition to resilient, low-carbon power systems an urgent necessity.
• The transition is complicated by “young” coal fleets and a grid infrastructure originally designed for conventional thermal power rather than intermittent renewable energy.
• Targeted funding and concessional finance mechanisms, such as the Just Energy Transition Partnership (JETP), are needed to de-risk unattractive investment areas like the early retirement of coal plants.
• Regional policy alignment regarding carbon taxes and sustainable activity taxonomies is essential to create a stable environment for international investors.
• Technology transfer in areas such as carbon capture (CCUS), green hydrogen, and smart grids is critical for modernization.
• A “just” transition must include workforce reskilling and community engagement to ensure that those dependent on the coal economy are not left behind during the shift.
• The “ASEAN Leaders for Just Energy Transition” community, facilitated by the World Economic Forum, has issued a Shared Aspirations Statement to provide a unified voice for the region’s specific challenges and priorities.

ASEAN faces a critical energy transition, aiming for deep decarbonization despite surging demand and significant funding gaps. The region, a major energy consumer, is highly vulnerable to climate change, necessitating an urgent overhaul of its power sector. Key challenges include economic development goals, a young coal fleet, and infrastructure limitations. To succeed, ASEAN requires an estimated $150 billion annually in clean energy investment. Success hinges on mobilizing funds, fostering extensive regional and global collaboration, and aligning policies. A just transition also involves reskilling the workforce and ensuring community buy-in for long-term benefits.

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Operator

Good day, everyone, and welcome to Cricut Fourth Quarter 2025 Earnings Conference Call. [Operator Instructions] Please note, this conference is being recorded.

Now, it’s my pleasure to turn the call over to the Senior Vice President and Head of Investor Relations, Jim Suva. Please proceed.

Jim Suva
Senior Vice President of Finance, Treasurer & Investor Relations

Thank you, operator, and good afternoon, everyone. Thank you for joining us on Cricut’s Fourth Quarter 2025 Earnings Call.

Please note that today’s call is being webcast and recorded on the Investor Relations section of the company’s website. A replay of the webcast will also be available following today’s call. For your reference, accompanying slides used on today’s call, along with a supplemental data sheet, have been posted to the Investor Relations section of the company’s website, investor.cricut.com.

Joining me on the call today are Ashish Arora, Chief Executive Officer; and Kimball Shill, Chief Financial Officer. Today’s prepared remarks have been recorded, after which Ashish and Kimball will host live Q&A.

Before we begin, we would like to remind everyone that our prepared remarks contain forward-looking statements, and management may make additional forward-looking statements, including statements regarding our strategies, business, expenses, tariffs, capital allocation and results of operations in response to your questions. These statements do not guarantee future performance, and therefore, undue reliance should not be placed upon them.

These statements are based on current expectations

Two employees at a Smoothie King franchise in Ann Arbor were terminated Monday after a viral video captured them refusing to serve a couple because the husband was wearing a hoodie bearing President Donald Trump’s name, prompting a swift corporate investigation and public backlash over alleged political discrimination.

The incident unfolded Sunday afternoon at the Smoothie King location on Jackson Road, a bustling strip in this liberal-leaning college town home to the University of Michigan. Erika Lindemyer and her husband, Jake, entered the store seeking smoothies when two young female workers behind the counter expressed discomfort with Jake’s attire and declined to take their order.

In the 90-second video filmed by Erika and posted to TikTok, the confrontation escalates as the couple accuses the employees of discrimination. “We were just wanting a smoothie, and you literally looked at us and I asked you if everything was OK and you said, ‘We don’t feel comfortable serving you’ because of my husband’s hoodie,” Erika says in the footage. “That is discrimination.”

One employee responds calmly, “Okay, well, have a great day,” while the other adds, “I said Trump discriminates [against] us.” As the argument intensifies, the second worker insists, “We have a right to refuse service,” and directs the couple to the door. Erika retorts that the refusal is “illegal” and threatens to call police before exiting, lamenting, “What’s embarrassing is that we’re American citizens and I wanted to get a smoothie.”

The video quickly spread across social media platforms, amassing hundreds of thousands of views on X (formerly Twitter) and TikTok by Monday morning. Accounts like Libs of TikTok and Leftism amplified the clip, with Leftism identifying one employee as Janiyah Mishelle Williams of Ann Arbor. “She refused to serve customers at @SmoothieKing because the husband wore a Trump hoodie,” Leftism posted, garnering widespread attention.

Smoothie King, a New Orleans-based chain with over 1,300 locations specializing in blended fruit drinks, responded swiftly. In a statement posted to X on Monday evening, the company affirmed its “zero tolerance for discrimination of any kind, including political affiliation.” It confirmed that following an investigation, the franchise owner had taken “immediate action,” and the two employees “are no longer with the business.”

“We were deeply concerned to learn of an incident involving a guest who was refused service at a franchised location in Michigan yesterday,” the statement read. “Every guest and team member deserves to feel welcomed. We remain firmly committed to upholding our brand standards and ensuring our stores are inclusive environments where everyone feels cared for and respected.” The franchise owner also apologized directly to the Lindemyers and mandated retraining for all staff on guest experience protocols.

Williams, who claims to be a minor, posted her own videos on TikTok in response, captioning one “refusing service to Trumpies gone wrong” and another “I lowkey might be cooked.. why does my job support Trump?” She doubled down in subsequent clips, framing the standoff as “good vs. evil” and urging viewers to report Erika’s video for removal, citing lack of consent and racist comments from predominantly white users.

By Monday morning, Williams launched a GoFundMe campaign seeking $700 for “support for safety after online harassment,” boasting about her refusal to serve Trump supporters and detailing threats that made returning to work unsafe. The fundraiser raised nearly $400 before being disabled later that day, following calls from critics like Leftism for the platform to intervene. In a later X post, Williams claimed Trump had legalized the right to refuse service — a misstatement, as federal law does not explicitly protect political affiliation, though local ordinances in Ann Arbor prohibit discrimination based on political beliefs in public accommodations.

Public reaction was polarized, reflecting broader national divides. Conservative commentators hailed the firings as a victory against “woke” bias, with X users like Ryan Ermanni of FOX 2 Detroit noting, “Smoothie King has FIRED two employees in Michigan.” Calls for boycotts emerged briefly before the terminations, with one X post warning, “Boycott Smoothie King” if action wasn’t taken. Others, like podcaster Jeremy from The Quartering, mocked the employees’ decision, saying it “ruined her life” over an entry-level job.

On the other side, some defended the workers’ right to feel safe, with Reddit threads in r/AnnArbor debating whether the hoodie constituted a threat in a progressive enclave. “If they felt unsafe, they shouldn’t be forced to serve someone,” one commenter wrote on Times of India. Instagram reactions included calls for lawsuits, with users tagging Smoothie King and decrying discrimination.

The episode echoes past controversies, such as 2018 incidents where Trump supporters were denied service over MAGA hats at restaurants in New York and Virginia, sparking debates on free speech versus private business rights. Legal experts note that while the Civil Rights Act protects against discrimination based on race, religion and other traits, political views fall into a gray area, often governed by state or local laws. In Michigan, Ann Arbor’s human rights ordinance explicitly bans bias in public services based on “political beliefs,” potentially exposing the franchise to complaints.

Smoothie King, founded in 1973 and now franchised globally, has emphasized inclusivity in its response, aiming to avoid the fate of brands like Bud Light, which faced boycotts over political missteps. Franchise owners operate independently but adhere to corporate standards, and this incident highlights challenges in enforcing uniform policies amid polarized times.

As of Tuesday, no police report was filed, per local sources, and the Lindemyers have not indicated plans for legal action. Williams continued posting online, unrepentant, while job hunt speculation swirled in conservative circles. The viral storm underscores how everyday encounters can ignite national debates in an election year, with Ann Arbor’s progressive vibe — where Trump garnered just 20% of the vote in 2024 — amplifying the clash.

Experts like University of Michigan political science professor Jenna Bednar told local media that such incidents reflect deepening societal rifts. “In a diverse community like ours, service refusals based on politics erode trust,” she said. Meanwhile, Smoothie King’s stock (part of parent company) dipped slightly amid the chatter, though analysts attribute it to broader market trends.

The franchise has reopened normally, with retraining underway. For the Lindemyers, what started as a quick stop ended in vindication — and a free smoothie voucher from corporate.