AEC Freezes Thaksin's Assets, Proceeds From Shin Corp Sale

[lannarebirth]

A Swiss account is not what it used to be, their own internal banking laws notwithstanding. In an effort to extend their global reach, UBS and Credit Suisse both bought US banks, First Boston and Warburg. The US required they drop the veil on Swiss accounts if given sufficient criminal court orders, or they would not be granted charters to operate in the USA. They agreed and that was the day I closed my Credit Suisse account. As far as thaksin making a big hulabaloo about it, I would put it down to misdirection to take attention away from wherever his money really is stashed.

edit:

http://winterman-am.blogspot.com/2007/08/o...nk-account.html

Edited September 6, 2007 by lannarebirth

[John K]

BANGKOK (Reuters) - Ousted Thai Prime Minister Thaksin Shinawatra did not threaten to sue Swiss banks for freezing his accounts in Switzerland because he does not have any, spokesmen for him said on Thursday.

Thaksin had been misquoted and his comments taken out of context by Swiss newspaper Mittelland Zeitung, they said.

"What he meant was his bank accounts in Thailand, not in Switzerland. The newspaper must have misreported what he said," Thaksin's Bangkok-based lawyer Noppadon Pattama told Reuters.

The paper quoted Thaksin in extracts from an interview scheduled for publication on Sept. 16 that Swiss banks had frozen some of his money and that he would be suing them "because my money is clean".

"Good old bank secrecy is no more. Absolute discretion is a thing of the past," he said.

London-based Thaksin spokesman Tim Bell said the comments had been in answer only to a question about his thoughts on the state of Swiss banking.

"He doesn't have any Swiss bank accounts and therefore he doesn't have any that can be frozen," Bell said.

Graft investigators have frozen $1.5 billion in Thaksin's bank accounts in Thailand and have issued arrest warrants for "official misconduct" in a Bangkok land deal and in connection with a share deal.

Thaksin, a former policeman who became one of Thailand's richest men, is suing the Assets Examination Committee set up after last year's coup, demanding compensation for damage caused by the freezing of his assets.

The Swiss embassy in Bangkok said no financial crime treaties existed between the two countries, making it very hard for Thai authorities to make any formal request to freeze assets.

Furthermore, Swiss authorities would never contemplate action until solid evidence had come to light against Thaksin and he had been found guilty, embassy official Jacques Lauer said.

Justifying its September coup, Thailand's military accused Thaksin of presiding over rampant corruption, abuse of power and showing disrespect to revered King Bhumibol Adulyadej.

Thaksin defended himself and his family against allegations of corruption. "Neither my family nor I has done anything illegal.

It appears Thaksin still thinks we all are from Isaan and will.... sigh....easy to fool...

[John K]

Well lets see... I really don’t need to say anything here but... Thaksin is compounding his lies. Did not Noppadon just say he was in China and was out of touch with Thaksin for a few days. It would be sweet if this interview was recorded, there is simply no way out. A misquote will the insults to go along with it.... let me get my popcorn.

[Solosiam]

Does anyone know what actually happens to Thaksins money if it is confiscated?

Where will it go?

As many peopl who are entwined in his sordid curruption deals, I bet there's more people counting the money that could be spent on other things.

[A_Traveller]

Yea Gods, Baron Bell!

An interview with a Swiss news organisation due to be published is somehow 'misunderstood'. I guess it's Thaksin's old northern Thai accent causing problems just like it did here.

Regards

/edit typo //

Edited September 6, 2007 by A_Traveller

[sriracha john]

Thaksin had been misquoted and his comments taken out of context by Swiss newspaper Mittelland Zeitung, they said.

"What he meant was his bank accounts in Thailand, not in Switzerland. The newspaper must have misreported what he said," Thaksin's Bangkok-based lawyer Noppadon Pattama told Reuters.

The paper quoted Thaksin in extracts from an interview scheduled for publication on Sept. 16 that Swiss banks had frozen some of his money and that he would be suing them "because my money is clean".

"Good old bank secrecy is no more. Absolute discretion is a thing of the past," he said.

London-based Thaksin spokesman Tim Bell said the comments had been in answer only to a question about his thoughts on the state of Swiss banking.

"He doesn't have any Swiss bank accounts and therefore he doesn't have any that can be frozen," Bell said.

Graft investigators have frozen $1.5 billion in Thaksin's bank accounts in Thailand and have issued arrest warrants for "official misconduct" in a Bangkok land deal and in connection with a share deal.

Thaksin, a former policeman who became one of Thailand's richest men, is suing the Assets Examination Committee set up after last year's coup, demanding compensation for damage caused by the freezing of his assets.

The Swiss embassy in Bangkok said no financial crime treaties existed between the two countries, making it very hard for Thai authorities to make any formal request to freeze assets.

Furthermore, Swiss authorities would never contemplate action until solid evidence had come to light against Thaksin and he had been found guilty, embassy official Jacques Lauer said.

Thaksin defended himself and his family against allegations of corruption. "Neither my family nor I has done anything illegal.

So it was #2, afterall...

[sriracha john]

Thaksin goes into Swiss reverse

Ousted PM Thaksin Shinawatra did not threaten to sue Swiss banks for freezing his accounts in Switzerland because he does not have any, his chief spokesman said on Thursday. Thaksin had been misquoted and his comments taken out of context by Swiss newspaper Mittelland Zeitung, said his lawyer and voluble spokesman, Noppadol Pattama. "What he meant was his bank accounts in Thailand, not in Switzerland. The newspaper must have misreported what he said," the lawyer told the news agency Reuters. The paper quoted Thaksin in extracts from an interview scheduled for publication on Sept. 16 that Swiss banks had frozen some of his money and that he would be suing them.

Continued here:

http://www.bangkokpost.com/topstories/tops...s.php?id=121416

[John K]

Don’t hold your breath on that SJ, we have two opposite statements from Thaksin. One is from Thaksin’s own mouth, and one from his somewhat tempered hired mouth filter. Basically Thaksin’s mouth is getting him in trouble, and Noppadon was in China when the urge overcame Thaksin to piss off the Swiss. That is the Thaksin I remember before the coup to say whatever he fancies without any regard for anyone except himself . Noppadon is just playing damage control here. A few more day will tell if this is just another “There are no cracks in the runway” story.

[John K]

The more I look at this in general, the more Noppadon looks like a mother to a toddler who just can’t seem to stay out of trouble. Turn his back for a few days and heads to China and Thaksin gets in trouble with his mouth, gets a whole country pissed off and mom comes and tries to clean up the mess. I can only imagine what some of the conversations between Thaksin and Noppadon are like as they argue about what should and should not be said.

Somehow I don’t think Thaksin will be getting a complementary box of chocolates when he opens his next Swiss bank account.

[Plus]

I bet there won't be any controvercy in the interview when it gets actually published.

Thaksin DOES have assets in Switzerland, or at least his family does.

When abroad he calls it "my money", when in Thailand it's "ask my children".

[John K]

Why do I see Thaksin putting pressure on the journalist with this? If it were me as a journalist who was being censored by Thaksin, Youtube would become my very close friend if the interview was recorded.

[lannarebirth]

I'll bet none of you ever won at three card monty either.

[sriracha john]

Thaksin Denies Having Swiss Bank Accounts

On behalf of deposed Prime Minister Thaksin Shinawatra, his legal adviser, Noppadon Pattama yesterday released a statement saying that Thaksin had been misquoted by a Swiss newspaper for his attempt to sue Swiss banks for freezing his bank accounts.

As reported earlier, the deposed prime minister told Swiss newspaper Mittelland Zeitung that he would file a lawsuit against Swiss bank for freezing his accounts and their negligence for publicly releasing a customer’s confidential records.

His legal adviser however, came out yesterday refuting against the news, saying that Thaksin had not concealed any money in Swiss banks, for he did not have any funds deposited in Switzerland.

Noppadon claimed that the exiled premier had informed the Swiss newspaper about his frozen bank accounts in Thailand, not in Switzerland. Thaksin argued that he has been misreported by the Mitteland Zeitung which had quoted him in extracts from an interview scheduled for publication on Sept. 16.

Thaksin asserted that during the interview, he had mentioned the Assets Examination Committee (AEC) and their order in freezing his assets in Thailand, where he had already filed civil and criminal lawsuits against the committee, asking the court to release an order to “unfreeze” his assets.

- Thailand Outlook

[Tony Clifton]

We'll see in nine days.

Until then, this is filed under "180 degree spin".

[Siripon]

BANGKOK (Reuters) - Ousted Thai Prime Minister Thaksin Shinawatra did not threaten to sue Swiss banks for freezing his accounts in Switzerland because he does not have any, spokesmen for him said on Thursday.

Thaksin had been misquoted and his comments taken out of context by Swiss newspaper Mittelland Zeitung, they said.

"What he meant was his bank accounts in Thailand, not in Switzerland. The newspaper must have misreported what he said," Thaksin's Bangkok-based lawyer Noppadon Pattama told Reuters.

The paper quoted Thaksin in extracts from an interview scheduled for publication on Sept. 16 that Swiss banks had frozen some of his money and that he would be suing them "because my money is clean".

"Good old bank secrecy is no more. Absolute discretion is a thing of the past," he said.

London-based Thaksin spokesman Tim Bell said the comments had been in answer only to a question about his thoughts on the state of Swiss banking.

"He doesn't have any Swiss bank accounts and therefore he doesn't have any that can be frozen," Bell said.

Graft investigators have frozen $1.5 billion in Thaksin's bank accounts in Thailand and have issued arrest warrants for "official misconduct" in a Bangkok land deal and in connection with a share deal.

Thaksin, a former policeman who became one of Thailand's richest men, is suing the Assets Examination Committee set up after last year's coup, demanding compensation for damage caused by the freezing of his assets.

The Swiss embassy in Bangkok said no financial crime treaties existed between the two countries, making it very hard for Thai authorities to make any formal request to freeze assets.

Furthermore, Swiss authorities would never contemplate action until solid evidence had come to light against Thaksin and he had been found guilty, embassy official Jacques Lauer said.

Justifying its September coup, Thailand's military accused Thaksin of presiding over rampant corruption, abuse of power and showing disrespect to revered King Bhumibol Adulyadej.

Thaksin defended himself and his family against allegations of corruption. "Neither my family nor I has done anything illegal.

It appears Thaksin still thinks we all are from Isaan and will.... sigh....easy to fool...

A rather racist comment there. Issan people are not easy to fool, the women certainly have fooled many a farang over the years.

Rather, TRT promised and delivered policies to the rural masses, Issanites know that Thaksin is dodgy and they're aware many of the policies were short term promotions, but the fact remains Thaksin helped them far more than other parties did.

At risk of repeating myself I want to see true grassroots politicians of the calibre of Suriyasai from the PAD entering national politics, city slickers such as Aphisit and Korn are welcome faces but up and coming quality upcountry politicians are sorely needed now.

[sriracha john]

Who's Lydia?

Lydia is the Thai singer Thaksin is seen with these days.

Believe it or not, after the publication of the book "Thaksin Where Are You?", Lydia's new show is called "Here I Am". (Enjoy the carreer while it lasts)

The latest link on Lydia with her Bill Clinton-ish denial:

"I did not have sex with that man."

Edited September 7, 2007 by sriracha john

[John K]

Sorry Siripon it was not meant to be racist, however I could have put more emphasis on “WE”. Isaan was meant as his voter base. Sorry for the confusion.

[sriracha john]

Thaksin 'moved billions abroad'

AEC spokesman says funds were shifted shortly before, after coup

Former prime minister Thaksin Shinawatra transferred "a large amount of money" to his overseas bank accounts shortly before and after the military coup on September 19 last year, Assets Examination Committee secretary Kaewsan Atibodhi said yesterday after the panel's meeting on "a very big issue".

The total amount could be "at least 50 Billion Baht", according to an AEC source.

Kaewsan did not comment whether the money could be part of Thaksin's undeclared assets or whether it might be subject to AEC seizure.

The anti-graft panel has ordered a freeze on more than 60 Billion Baht in Thaksin family money earned from the sale of their shares in the telecom giant Shin Corp to Singapore's Temasek Holdings.

Thaksin has never said publicly whether he has monetary assets in overseas bank accounts.

Speaking after attending a five-hour meeting of AEC members yesterday, Kaewsan said Prime Minister Surayud Chulanont had been informed of the newly discovered transfers of money and had authorised the making public of the matter after another AEC meeting to further discuss the issue on Monday.

The transfers became known after Thaksin threatened to sue banks for allegedly freezing some of his money deposited with them, according to a Swiss newspaper.

A legal adviser for Thaksin Shinawatra, Noppadon Pattama, on Thursday backtracked on Thaksin's reported statement, saying that the article was inaccurate. He denied that Thaksin had told Swiss newspaper Mittelland Zeitung he would sue a Swiss bank for freezing his accounts and revealing a customer's confidential records.

- The Nation

====================================================

Those sorts of figures would easily make him Thailand's richest man.... although he certainly wasn't before he became PM.

Edited September 7, 2007 by sriracha john

[lannarebirth]

My guess.... Liechtenstein. They ain't telling nobody.

[Tony Clifton]

Only jail can keep him from touching a satang.

[Kna]

The man has gone way beyond any possibility of deals on too many issues, especially one that can not be discussed here.

Lydia is the Thai singer Thaksin is seen with these days.

Believe it or not, after the publication of the book "Thaksin Where Are You?", Lydia's new show is called "Here I Am". (Enjoy the carreer while it lasts)

Thaksin: Where are you?

and then...

Lydia: Here I am

I guess the next book will be....

Pojman: He's my husband!!!

Ok, I'll try to believe he's saying about his bank accounts in Thailand, but why complain about the state of Swiss banking if he doesn't have any money in Swiss bank? I mean, if they are really talking about Thailand why change the topic to Swiss all of sudden?

[LaoPo]

Thaksin 'moved billions abroad'

AEC spokesman says funds were shifted shortly before, after coup

Former prime minister Thaksin Shinawatra transferred "a large amount of money" to his overseas bank accounts shortly before and after the military coup on September 19 last year, Assets Examination Committee secretary Kaewsan Atibodhi said yesterday after the panel's meeting on "a very big issue".

The total amount could be "at least 50 Billion Baht", according to an AEC source.

Kaewsan did not comment whether the money could be part of Thaksin's undeclared assets or whether it might be subject to AEC seizure.

The anti-graft panel has ordered a freeze on more than 60 Billion Baht in Thaksin family money earned from the sale of their shares in the telecom giant Shin Corp to Singapore's Temasek Holdings.

Thaksin has never said publicly whether he has monetary assets in overseas bank accounts.

Speaking after attending a five-hour meeting of AEC members yesterday, Kaewsan said Prime Minister Surayud Chulanont had been informed of the newly discovered transfers of money and had authorised the making public of the matter after another AEC meeting to further discuss the issue on Monday.

The transfers became known after Thaksin threatened to sue banks for allegedly freezing some of his money deposited with them, according to a Swiss newspaper.

A legal adviser for Thaksin Shinawatra, Noppadon Pattama, on Thursday backtracked on Thaksin's reported statement, saying that the article was inaccurate. He denied that Thaksin had told Swiss newspaper Mittelland Zeitung he would sue a Swiss bank for freezing his accounts and revealing a customer's confidential records.

- The Nation

====================================================

Those sorts of figures would easily make him Thailand's richest man.... although he certainly wasn't before he became PM.

http://www.forbes.com/lists/2007/07/12/biz...chest_land.html

note: the real #1 is, for obvious reasons, not on the list and not to be discussed here.

LaoPo

[cclub75]

Speaking after attending a five-hour meeting of AEC members yesterday, Kaewsan said Prime Minister Surayud Chulanont had been informed of the newly discovered transfers of money and had authorised the making public of the matter after another AEC meeting to further discuss the issue on Monday.

"Newly discovered" ?

What a joke.

They would like us to believe that it took them ONE YEAR to trace some very large outbound transferts ?

Nothing makes sense. The BOT must gives its approval for any large transfert. Bank operations leave traces, even if some complex schemes are used...

4 solutions :

-they are totally incompetent

-they can't say (face, face) that Thaksin has benefited from many complicities inside the state apparatus, and that he was like a fish inside the pond, sabai. In this case, who ?

-they can't say that the hunt for Thaksin was not... real until very recently (may with the dissolution of TRT). In this case, why ?

-it's just another propaganda trick

Edited September 7, 2007 by cclub75

[chinthee]

This is all about propaganda. Switzerland has been known for the past several years to have breached its secrecy status by all international financial planners and lawyers. A big case hit about a year ago regarding the President of a former Soviet oil rich republic that put that matter to rest. Luxembourg followed suit.

This is all posturing.

[John K]

It is very obvious cclub75 that Thaksin hides his money under other peoples names. Considering that from personal experience it is very difficult without checks to move money out of a bank if you are not face to face with a bank teller. It certainly sounds like it was in other peoples names. Finding the names takes time.

Also before all of this went down last year, supposedly Thaksin was not the richest in Thailand. Now that all of this hidden money has come to light, where would he be on that list?

[sriracha john]

Thaksin 'moved billions abroad'

AEC spokesman says funds were shifted shortly before, after coup

Former prime minister Thaksin Shinawatra transferred "a large amount of money" to his overseas bank accounts shortly before and after the military coup on September 19 last year, Assets Examination Committee secretary Kaewsan Atibodhi said yesterday after the panel's meeting on "a very big issue".

The total amount could be "at least 50 Billion Baht", according to an AEC source.

Kaewsan did not comment whether the money could be part of Thaksin's undeclared assets or whether it might be subject to AEC seizure.

The anti-graft panel has ordered a freeze on more than 60 Billion Baht in Thaksin family money earned from the sale of their shares in the telecom giant Shin Corp to Singapore's Temasek Holdings.

Thaksin has never said publicly whether he has monetary assets in overseas bank accounts.

Speaking after attending a five-hour meeting of AEC members yesterday, Kaewsan said Prime Minister Surayud Chulanont had been informed of the newly discovered transfers of money and had authorised the making public of the matter after another AEC meeting to further discuss the issue on Monday.

The transfers became known after Thaksin threatened to sue banks for allegedly freezing some of his money deposited with them, according to a Swiss newspaper.

A legal adviser for Thaksin Shinawatra, Noppadon Pattama, on Thursday backtracked on Thaksin's reported statement, saying that the article was inaccurate. He denied that Thaksin had told Swiss newspaper Mittelland Zeitung he would sue a Swiss bank for freezing his accounts and revealing a customer's confidential records.

- The Nation

====================================================

Those sorts of figures would easily make him Thailand's richest man.... although he certainly wasn't before he became PM.

http://www.forbes.com/lists/2007/07/12/biz...chest_land.html

note: the real #1 is, for obvious reasons, not on the list and not to be discussed here.

LaoPo

To put it in another perspective.... Thaksin could very well be #1 easily with $6.5 billion, almost double what Forbes says Chaleo has as #1 with $3.5 billion....

excerpts from:

Government must hit Thaksin where it hurts most

Let's deal with the problems at hand and explore how we should deal with Thaksin to prevent his attempts to derail the new charter and cause other political troubles.

No doubt Thaksin is more than angry after the freezing of more than 65 Billion Baht of his assets. That's just peanuts, as we know that he has at least 200 Billion Baht *that would be the 6.5 Billion Dollars I was referring to that would easily make him Thailand's richest man* stashed abroad in various places, such as in savings accounts and investments in funds and securities through nominees here and abroad.

- Sopon Onkgara, Sidelines, The Nation

Continues here:

http://www.nationmultimedia.com/2007/07/15...on_30040886.php

Incidentally, it would even surpass the unmentioned #1 who was on a separate and recent Forbes list.

[lannarebirth]

This is all about propaganda. Switzerland has been known for the past several years to have breached its secrecy status by all international financial planners and lawyers. A big case hit about a year ago regarding the President of a former Soviet oil rich republic that put that matter to rest. Luxembourg followed suit.

This is all posturing.

Right, it's a diversionary tactic.

[John K]

This is all about propaganda. Switzerland has been known for the past several years to have breached its secrecy status by all international financial planners and lawyers. A big case hit about a year ago regarding the President of a former Soviet oil rich republic that put that matter to rest. Luxembourg followed suit.

This is all posturing.

Right, it's a diversionary tactic.

I had thought of that too however there is a lot of damage by this tactic and perhaps more than is acceptable. Thaksin wants to appear to the rest of the world to be the victim of a coup and he is a nice guy. Being the owner of Manchester sets up a false persona. This can easily cancel all of that and do more damage. Only in the most desperate situations would Thaksin do this, and I don’t see him there yet. I think it was more of his mouth babysitter Noppadon was away too long and the temptation was too great.

[hammered]

The man has gone way beyond any possibility of deals on too many issues, especially one that can not be discussed here.

Lydia is the Thai singer Thaksin is seen with these days.

Believe it or not, after the publication of the book "Thaksin Where Are You?", Lydia's new show is called "Here I Am". (Enjoy the carreer while it lasts)

Thaksin: Where are you?

and then...

Lydia: Here I am

I guess the next book will be....

Pojman: He's my husband!!!

Ok, I'll try to believe he's saying about his bank accounts in Thailand, but why complain about the state of Swiss banking if he doesn't have any money in Swiss bank? I mean, if they are really talking about Thailand why change the topic to Swiss all of sudden?

The titles of the books does make one ask if they use the same publicist. It certainly smacks of an organised publicity campaign of the kind popular a few ago. A few of Ts friends will make a buch of cash from their inane ramblings while it is another opportunity for publicity for the T-man. "Where are you", "Here I am" I wonder who this really refers to and what the next one will be.

[Jai Dee]

I'm not Thaksin's gig: Lydia

After a long wait, the public has finally heard from singer Saanrat "Lydia" Wisutthithadato, who stated emphatically: "I'm not Thaksin's gig, 200 per cent."

Lydia, 20, who has been in the limelight since it was revealed that she is a close friend of ousted prime minister Thaksin Shinawatra, told a press conference yesterday that she is certainly not his 'gig' but that the former PM is her father's friend.

The singer released her book "Lydia … Here I am!" yesterday and met the press for the first time since the news broke about her relationship with Thaksin.

It has not gone unnoticed that the title looks very much like a follow-up to the recent book on Thaksin - "Thaksin, Where are you?" - in which Lydia's name is mentioned.

But she was keen to clarify that the title simply meant "Here I am!"

Lydia did not link the two books, but said her title implied that "I am here to tell everything." However, she admitted there was some duplicated content in the two works.

The singer has been the subject of gossip thanks to her closeness to the man of her father's generation. Some say she is the "dream daughter-in-law" of Thaksin, while others questioned whether she was Thaksin's potential 'gig'.

Although Lydia has striven to clear her name amid the gossip, she wants the public to judge her through the words in her book. She thinks the gossip has been unfair and wants to put the matter straight. It has to be politically correct, as Lydia asked Thaksin for advice about her book before it went to print - and Thaksin read the draft the young singer sent.

"He knows I am launching my book today," she said.

Although Thaksin could not be present for his 'daughter's' important day, his son Panthongtae sent a bouquet of flowers to congratulate her.

In the book, Lydia talks about the light-hearted conversations with Thaksin, like what they eat and how they are doing today. She also confirms that the ousted PM phoned her the morning after the September 19 coup and told her that 'father' had lost his job. According to Lydia, she called him her 'second dad' and he called her 'daughter'.

Lydia portrays Thaksin as a man with a good sense of humour, despite his being ousted in the coup.

The book features snapshots, taken by Panthongtae. They include Thaksin pushing a supermarket trolley, having a snack on a footpath and posing with Lydia, the so-called Queen of R&B. All photos were taken after the coup.

Sceptics believe the singer has launched the book to boost her popularity and is simply using the relationship as a marketing ploy. But Lydia said defiantly that she had already prepared to write the book a year ago - long before news about her and Thaksin had spread.

Originally the book was meant to be about "her life and the entertainment world", but she decided to add a third part on her relationship with the ousted PM after rumours about their alleged affair emerged.

"It's not that I try to support him or want to promote his return. I just want to clear my name. I know nothing about politics and I have been close to him and the family for a year now. I also call Khunying [Pojaman] "Mae" [mother]."

Lydia said she spent most of her time singing karaoke or teeing off with Thaksin when he was stressed, rather than talking about politics.

Asked if he wants to come back to the Kingdom, Lydia said: "Yes, I think he'd like to return."

The press conference held at Zen received plenty of attention from the press and high-society people. Lydia was accompanied by her family.

Panthongtae's business partners in his How Come Entertainment came to support Lydia, while close male friend Matthew Dean gave her flowers.

The book is published by Poema Book, a subsidiary of RS Publishing, which is her music label, and was written by Pavitra Kasemnet, who interviews Lydia at length. The 208-page book costs Bt195.

Source: The Nation - 08 September 2007