AMLO seizes more land plots from company controlled by jailed Apichart

By THE NATION

 

Apichart Chansakulporn

 

THE ANTI-MONEY Laundering Organisation (AMLO) has seized another 53 land plots totalling 320 rai worth over Bt58 million from a firm controlled by Apichart Chansakulporn, who is facing a 48-year jail term in connection with the fake government-to-government (G-to-G) rice export deals.

 

Most of these land plots in Angthong province are currently owned by Doi Kum Hillside Ltd, which is a part of Apichart’s rice-trading business network.

 

Better known as Sia Pieng, Apichart – along with former commerce minister Boonsong Teriyapirom and deputy commerce minister Phumi Saraphol as well as other former senior officials of the Commerce Ministry’s Department of Foreign Trade – was found guilty by the Supreme Court for their roles in the fake G-to-G rice deals.

 

In addition to the 53 land plots, AMLO had previously seized other assets of Apichart and his family in connection with criminal lawsuits concerning the rice-pledging scheme.

 

More than 20 persons were sentenced to jail terms of 24-48 years for four fake G-to-G deals with unauthorised Chinese state enterprises for the export of several million tonnes of Thai rice to China. Instead of exporting the rice to China, the rice purchased under the previous Yingluck government’s pledging scheme was actually resold to domestic buyers at a low price.

 

As a result, these bogus G-to-G contracts caused financial damage estimated at more than Bt16 billion to the state.

 

As a major rice trader, Apichart played a key role in the fake deals which are connected with the rice-pledging scheme in which former premier Yingluck Shinawatra also faced a Supreme Court verdict but fled just before the Supreme Court was due to deliver the judgement on August 25.

 

Yingluck was accused of negligence in overseeing the rice pledging scheme the financial damage from which are estimated to be several hundreds of billions of baht largely because the previous government purchased a huge amount of rice paddies at the high price of Bt15,000 per tonne, double the then-prevailing market price.

 

Since Yingluck failed to show up for the verdict reading on August 25, the Supreme Court later issued an arrest warrant for the ex-premier and postponed the verdict reading to late September.

 

According to the Supreme Court’s verdict on the fake rice deals, Yingluck was officially informed of these measures to reduce the government-owned rice inventory which increased rapidly after farmers were attracted by the high price offered under the pledging scheme.

 

Source: http://www.nationmultimedia.com/detail/politics/30326191

 

 

-- © Copyright The Nation 2017-09-09

So the rice G to G scheme cost the state an estimated 16 billion, they size from this guy assets worth over 58 billion and then you have the assets of the other 19 people including the billions siezed from Yingluk.   A great little earner for Prayuth and his group.

Edited September 9, 20178 yr by Thechook

13 minutes ago, Thechook said:

So the rice G to G scheme cost the state an estimated 16 billion, they size from this guy assets worth over 58 billion and then you have the assets of the other 19 people including the billions siezed from Yingluk.   A great little earner for Prayuth and his group.

Read it again.

10 hours ago, halloween said:

Read it again.

OK I did and cut and pasted from the article.

 

 As a result, these bogus G-to-G contracts caused financial damage estimated at more than Bt16 billion to the state.

 

Even when I cut and paste it still comes up 16 billion.

2 hours ago, Thechook said:

OK I did and cut and pasted from the article.

 

 As a result, these bogus G-to-G contracts caused financial damage estimated at more than Bt16 billion to the state.

 

Even when I cut and paste it still comes up 16 billion.

" seized another 53 land plots totalling 320 rai worth over Bt58 million "

Its 58 Million THB,he still owes a lot more,so lets hope they find

a lot more of his assets,to repay the taxpayer,as it was the public's

money . Thechook, your PC needs glasses !

regards  worgeordie

Or perhaps a cup-of-coffee for the liveware ? 

14 hours ago, Thechook said:

A great little earner for Prayuth and his group.

How do I pay for my military toys?  I know I'll confiscate some billions off political  adversaries.

29 minutes ago, mikebell said:

How do I pay for my military toys?  I know I'll confiscate some billions off political  adversaries.

interesting thing is that everyone knows it is there; just need look and pluck the fruit

2 hours ago, halloween said:

" seized another 53 land plots totalling 320 rai worth over Bt58 million "

Yep he seems to confuse billion and million.. i would love to have the difference. I pay him 100 million and he only has to give me back 2 billion.. seems fair the way he confuses things 

18 hours ago, Thechook said:

So the rice G to G scheme cost the state an estimated 16 billion, they size from this guy assets worth over 58 billion and then you have the assets of the other 19 people including the billions siezed from Yingluk.   A great little earner for Prayuth and his group.

The didn't seize 58 billion from him it was 58 million as others have already pointed out.

 

However, even if they had confiscated 58 billion it would of still left them well out of pocket as the overall cost of the scheme is said to have been over 500 billion.

 

" Yingluck’s rice subsidy program supposedly cost the government some 500 billion Thai baht ($15.3 billion) in losses. "

 

The above quote is from the ibtimes.

 

So no, not a great little earner for Prayuth and his group.