Thaksin given 3-year imprisonment for Exim Bank’s loan to Myanmar

[webfact]

Thaksin given 3-year imprisonment for Exim Bank’s loan to Myanmar

 

 

The Supreme Court’s Criminal Division for Holders of Political Office has sentenced fugitive former prime minister Thaksin Shinawatra to three years in prison without suspension after finding him guilty of malfeasance in office for approving a 4-billion-baht low interest loan from the Thai Exim Bank to Myanmar for the purchase of telecom equipment and services from his family-owned company, Shin Satellite.

 

The court also issued a warrant for the arrest of Thaksin who has been in self-exile since 2008.

 

After his overthrow in a military coup in 2006, a special Assets Scrutiny Committee was set up by the junta-appointed government to investigate Thaksin’s massive wealth and his alleged conflicts of interest which may have enabled him to amass considerable wealth.  The Exim Bank’s loan to Myanmar is just one of about a dozen cases investigated by the panel and, subsequently, by the National Anti-Corruption Commission.

 

Full story: https://www.thaipbsworld.com/thaksin-given-3-year-imprisonment-for-exim-banks-loan-to-myanmar/

 

-- © Copyright Thai PBS 2019-04-24

[perthuniversity]

i'll admit i'm biased, but I really struggle to see how most of the charges are as serious as they are making out, the exim bank is supposed to loan money so neighbouring countries can but thai goods and services

 

conflict of interest? possibly, but it's also very possible that the conflict of interest was acknowledged, disclosed, etc

[impulse]

Sneaky bastards. 

 

Now they'll have to add one more pardon in the amnesty they'll undoubtedly try to push through if there's ever a free and valid election.

 

[Inn Between]

Does this indicate that the Junta Party is worried about losing power, or am reading something into this that isn't there?  

 

All insults of ignorance about my political astuteness of Thailand are proudly accepted.   

 

 

[faraday]

Is the loan being repaid?

 

If it was so serious, why only 3 years?

[scorecard]

46 minutes ago, perthuniversity said:

i'll admit i'm biased, but I really struggle to see how most of the charges are as serious as they are making out, the exim bank is supposed to loan money so neighbouring countries can but thai goods and services

 

conflict of interest? possibly, but it's also very possible that the conflict of interest was acknowledged, disclosed, etc

Conflict of interest, yes totally, read the full details, easy to find all published in detail before.

[ezzra]

Probably has a lot to do with the Pheu Thai party insisting it has the last election's majority to form and head the new government, so here comes the added warning and deterrent to anyone who thought that Thaksin will be brought home soon... 

[phutoie2]

22 minutes ago, scorecard said:

Conflict of interest, yes totally, read the full details, easy to find all published in detail before.

yes , not a long read.  It was on the fiction shelf at Asia Books.

[Thailand]

I expect he is booking his ticket right now.

[Oziex1]

Thaksin, still in their hearts and minds. 

[colinneil]

The court issued a warrant for Thaksins arrest.

Somehow i dont think he will be losing any sleep over it.

Thaksin the bogey man, even after over 10 years in exile, they are still S++t scared of him.

[Chang_paarp]

Is the statute of limitations running out on the other warrants?

 

Speaking of statute of limitations, how long ago was this offence? And is there a statute of limitations on this type of offence?

[Sticky Wicket]

It makes me laugh when people post that he should come back and face the music, do a few years in jail etc etc.

If he came back and was put in jail he would be dead inside 24 hours. 

 

[Denim]

Keeping him in the limelight whilst telling people to move on and get over Thaksin. This crowd can't even read from the same page.

[mercman24]

in my book overthrowing an elected government was treason, punishable by death, oh sorry wrong country. wonder how many years this lot would get, ha ha the first thing this lot done was make an act of parliament protecting any wrong doings they might be part of.

[Chris Lawrence]

This poor bloke can't win a trick. Must have "killed a Chinaman", a common saying in Oz when you are down on your luck.

 

2006 until 2019? Must have been very careful in gathering evidence. I heard they even spoke to the cleaner in the bank building?

 

I suppose when his team wins the current election and then after the revolution, he will pass a law to fix everything.

 

Hope he passes a law about wearing watches of dead mates?

[MaxLee]

5 hours ago, webfact said:

The Supreme Court’s Criminal Division for Holders of Political Office has sentenced fugitive former prime minister Thaksin Shinawatra to three years in prison without suspension after finding him guilty of malfeasance in office for approving a 4-billion-baht low interest loan from the Thai Exim Bank to Myanmar for the purchase of telecom equipment and services from his family-owned company, Shin Satellite.

He's not even here in Thailand anymore

[PingRoundTheWorld]

4 million baht? Seriously? You can't even buy a (decent) condo with that...

[scorecard]

4 hours ago, phutoie2 said:

yes , not a long read.  It was on the fiction shelf at Asia Books.

Whatever.

[scorecard]

46 minutes ago, PingRoundTheWorld said:

4 million baht? Seriously? You can't even buy a (decent) condo with that...

4 BIllion...

[mike324]

5 hours ago, perthuniversity said:

i'll admit i'm biased, but I really struggle to see how most of the charges are as serious as they are making out, the exim bank is supposed to loan money so neighbouring countries can but thai goods and services

 

conflict of interest? possibly, but it's also very possible that the conflict of interest was acknowledged, disclosed, etc

The loan required Myanmar to buy services from Shin Satellite a subsidiary of Shin Corp, which is own by his family. 

 

There are numerous cases where Thaksin use his position to get ministries to buy stuff from  company his family owns, other examples include police force buying computers.

[Orton Rd]

They make him look like Snowball from animal farm, the bogy man.

[Ulic]

6 hours ago, perthuniversity said:

i'll admit i'm biased, but I really struggle to see how most of the charges are as serious as they are making out, the exim bank is supposed to loan money so neighbouring countries can but thai goods and services

 

conflict of interest? possibly, but it's also very possible that the conflict of interest was acknowledged, disclosed, etc

Not sure, the loan was to buy telecommunications equipment from his company, so a definite conflict of interest. Was the loan ever paid back? I am not sure. But lending that kind on money to a military dictatorship that was under UN sanctions to purchase equipment from your company is highly unethical. Ordering the loan to be made when the bank did not want to, basically amounts to theft if it was not fully repaid. A three-year sentence when he made millions of dollars seems like a very lite sentence. 

[gamini]

5 hours ago, phutoie2 said:

yes , not a long read.  It was on the fiction shelf at Asia Books.

The replies seem to be totally ignorant of the facts. The corruption charge is Taksins terms of giving Burma the loan were that they would purchase his own companiy's satellite equipment. Also, he bypassed Parliament in authorising the loan. 

[madmitch]

32 minutes ago, mike324 said:

The loan required Myanmar to buy services from Shin Satellite a subsidiary of Shin Corp, which is own by his family. 

 

There are numerous cases where Thaksin use his position to get ministries to buy stuff from  company his family owns, other examples include police force buying computers.

Yes, he misled the police force into believing other computers were inferior as his had the best solitaire games.

[josephbloggs]

5 hours ago, Chang_paarp said:

Is the statute of limitations running out on the other warrants?

 

Speaking of statute of limitations, how long ago was this offence? And is there a statute of limitations on this type of offence?

This was filed in 2008, two years after the act.  Therefore well within the SoL (if there even is one for corruption of this kind - I am not sure).

[Eric Loh]

Not sure it was fear of Thaksin that prompt the junta to re-weaponized the prosecutors and courts with the absentia law. Prior the AG dropped the case. What the junta want, they get. 

[metisdead]

An off topic trolling post and a reply has been removed. 

[josephbloggs]

7 hours ago, perthuniversity said:

i'll admit i'm biased, but I really struggle to see how most of the charges are as serious as they are making out, the exim bank is supposed to loan money so neighbouring countries can but thai goods and services

 

conflict of interest? possibly, but it's also very possible that the conflict of interest was acknowledged, disclosed, etc

It certainly was not acknowledged.  It was extremely shady to say the least.  There is no "possibly" about it.  Think about it, the Prime Minister of a nation authorising / ordering a government bank to give a low interest loan to a cruel military dictatorship, under several UN sanctions, for it to buy equipment from his personal company, thereby enriching him greatly.

 

Why is that only "possibly" a conflict of interest?  It couldn't be a clearer breach.

 

[candide]

The article in Thai pbs lacks precision, as often. The part of the loan that was later used to buy Shin Corps products was 400 Million, accordind to the ASC. What was the cost of the reduced interest rate for a 400 Million loan over 3 years? 10% (40 million), 20% (80 million)?