BANGKOK, Nov 30 (Reuters) - A Thai court fined the local unit of Philip Morris (PM.N) 1.2 billion baht ($40 million) for customs violations on cigarette imports on Friday (Nov 29), while dropping criminal charges against seven of its employees.
The Thai public prosecutor filed charges in 2016 against Philip Morris Thailand and seven of its Thai employees, alleging under-reporting of the value of more than 270 entries of imported cigarettes from the Philippines between 2003 and 2006 which led to a revenue losses of more than 306 million baht.
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