Two other lecturers also faced the same charges.
The former rector Thawil Puengma was pressed with the charges after he was summoned for further interrogation this morning.
The charges that the police found him guilty included theft, forgery of official documents, embezzlement, negligence of duty, and money laundering.
Royal Thai Police spokesman Pol Lt Gen Prawuthi Thavornsiri said the former rector had committed several unusual acts.
One of which was to guarantee the conduct of the former SCB branch manager Songklod Sriprasong after the headoffice detected some unusual act which indicated the close and unusual connection of the two persons.
He also was found to open bank accounts on behalf of the institute although his appointment as rector was not yet endorsed, and to close bank accounts after he was sacked from the position.
Two other lecturers of KMITL did not appear to face the charges at the CSD today.