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Gang at Thai Airways accused of creaming off cash in fake death certificates scam


webfact

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10 minutes ago, colinneil said:

Amazing isnt it, just bloody amazing, corruption is rife, and nobody has ever even tried to stop it.

Not so amazing really. This is the state flag carrier. Just look at SRT and other state entities where it's a given that when one gets onto the board, the money simply flows your way and all you need is a pulse. Nobody's ever been interested in making it more competitive or efficient when it has so many fat, dripping teats.

 

10 minutes ago, colinneil said:

More and more employees are jumping onto the corruption band wagon, ohh if they can do it so can i.

 

They are on the corruption band wagon from when they are hired. Some are even born on that bandwagon and the employment and promotion is already a given and they get a better seat at the front.

 

13 minutes ago, colinneil said:

Only way to stop it,, and stop the serious drain on public money, is to shut Thai airways down.

 

Totally agree. The whole thing needs eviscerated and something new and totally unrelated with the purple and gold pig trough. However, with Air France-KLM going cap in hand to their respective governments after burning through an extra $2.5 billion during Q4 last year (the $10 billion secured when Covid broke out wasn't enough apparently), the notion of face saving will be very strong.

 

Alitalia was Europe's perpetual basket case airline and last March, after airlines and investors declined to help out, the Italian government 'saved' them by taking control. Alitalia's debts were (are still) huge but I recall doing the math last year and the financial black hole that THAI languishes is colossal in comparison... I ran out of zero's on my calculator! Even if the Thai government didn't buy submarines, they still wouldn't scratch the surface of THAI's debt. I doubt that CP, SCG, ThaiBev and SCB combined could ever cover those losses. But hey, maybe some Sino-Thai multi-trillionaire wants to pull a Richard Branson?

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1 hour ago, webfact said:

The Thai police are now investigation a major fraud said to have been going on at Thai Airways over the last eight years and involving 14 million baht.

and it took them 8 years to find out ????????

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14 million Baht is TINY. Fraud at THAI would be orders of magnitude larger than this, probably.

 

I suspect their books being looked at in detail by the restructuring teams, especially the foreign members on behalf of foreign creditors, has revealed a bunch of issues and THAI (and the government) are admitting to something small to deflect attention from far larger frauds.

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1 hour ago, colinneil said:

Amazing isnt it, just bloody amazing, corruption is rife, and nobody has ever even tried to stop it.

More and more employees are jumping onto the corruption band wagon, ohh if they can do it so can i.

Only way to stop it,, and stop the serious drain on public money, is to shut Thai airways down.

 

There's a phrase in corporate circles, "the fish rots from the head'. Never been more apt than in the case of Thai.

 

Due to the brazen and unusual nature of this fraud, it will get attention but don't lose sight that this is pocket change compared to what the big boys have been taking out of the company.

For decades.

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5 minutes ago, Fex Bluse said:

are admitting to something small to deflect attention from far larger frauds.

 

Yeah, that's not how things work. I mean outside of Thailand. Squirrel.

 

6 minutes ago, realfunster said:

There's a phrase in corporate circles, "the fish rots from the head'

 

Pretty sure this saying has been around since man caught the first fish.

 

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3 hours ago, webfact said:

This was done so that staff of the airline's funeral association for employees could get money for expenses related to preparing and making arrangements for the deceased, it has been alleged.

26 staff, 14million baht ? 

 

Seriously giving them each 500,000 baht for funeral arrangements ? 

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2 hours ago, voulez vous said:

I've been told Thai Airways was an expensive way to fly.

 

If people used other means, and airlines, to travel they might have done something about the corruption. 'Money talks' as they say.

 

In France we have no such problems.

I looked today to a 1000Baht note. I looked and looked, smiled a bit but nothing. I started to talk to the note, still nothing.????

Probably my note has no language skills.

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