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Supreme Court gives 2 years jail sentence to ex-minister Benja, 4 others


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Supreme Court gives 2 years jail sentence to ex-minister Benja, 4 others

By THE NATION

 

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Benja Louichareon

 

The Supreme Court upheld the lower court’s verdict but reduced the jail term of five defendants to two years unsuspended instead of the 3 years given by the Appeal Court.

 

On Thursday (December 26) the Central Criminal Court for Corruption and Misconduct Cases read the Supreme Court’s ruling on the case that saw the National Anti-Corruption Commission (NCAA) suing Benja Louichareon, a former deputy finance minister, and four other persons for abusing their authority to help Panthongtae and Pinthongta Shinawatra, the children of former premier Thaksin Shinawatra, evade income taxes on their sale of Shin Corp shares in 2006 valued at approximately Bt7.9 billion each.

 

The Supreme Court upheld the lower court’s verdict but reduced the jail term of five defendants to two years unsuspended instead of the 3 years given by the Appeal Court.

 

Benja was a deputy finance minister and deputy director of Revenue Department during Yingluck’s administration. The other 4 defendants are Jamras Yaemsoithong, Moleerat Boonyasiri and Krit Wipulanusas from the Revenue Department's legal affairs office, and Pranee Wetprugpitak, a personal secretary to Khun Ying Potjaman Na Pombejra, former wife of Thaksin.

 

On December 3, 2015 they were sued for violation of Section 157 of Criminal Code: Abusing their authority resulting in evasion or underpayment of taxes. In 2006 Panthongtae and Pinthongta Shinawatra each bought 164,600,000 shares of Shin Corporation at the par price of Bt1 per share and sold them at market price of Bt49.25 per share. According to Section 39 of Revenue Code, the sellers must pay tax on the difference in share prices, which in this case stacks up to almost Bt8 billion each.

 

Source: https://www.nationthailand.com/news/30379868

 

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-- © Copyright The Nation Thailand 2019-12-27
  • Like 1
Posted
6 hours ago, webfact said:

Panthongtae and Pinthongta Shinawatra each bought 164,600,000 shares of Shin Corporation at the par price of Bt1 per share and sold them at market price of Bt49.25 per share

Nice doing a bit of business !

Posted
48 minutes ago, canuckamuck said:

Sure, but when it comes to the other side?

The fat watch man comes to mind. Oh that's ok he one of the good guys 

  • Like 1
Posted
2 hours ago, justin case said:

wow, buy at 1, sell at almost 50, no taxes

 

no wonder those in power are all super mega rich

Keep it in the family.

Posted
2 hours ago, seajae said:

so will they get these unpaid taxes back from the shin family or just let it slide thai style

 

Indeed.

 

Unanswered questions - have they got the tax that was due and if not what are they doing about it; and why has/is no action being taken against those who benefited?

 

 

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