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

By THE NATION

 

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

 

-- © Copyright The Nation Thailand 2019-12-27

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These elite people sure have silly money

No need to have a trial, Just check their political affiliation to determine guilt.

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 !

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

 

no wonder those in power are all super mega rich

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

Who’s going to pay the missing tax money ?

1 hour ago, hotchilli said:

Nice doing a bit of business !

Not really, daddy the PM at that time let them buy it.

1 hour ago, canuckamuck said:

No need to have a trial, Just check their political affiliation to determine guilt.

If you can't see that they were guilty, you need new glasses.

15 minutes ago, FritsSikkink said:

If you can't see that they were guilty, you need new glasses.

Sure, but when it comes to the other side?

If there is choice between the Corrupt Shins or the current uniformed kleptocracy I'll go for the former.

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 

Edited December 27, 20196 yr by DaveE13

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.

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?