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

[John K]

Many newspapers around the world use stories from -independent or not- correspondents, living abroad, working for several different home-country newspapers/magazines and TV/Radio networks.

Not that strange or plausible.

You're just assuming...

LaoPo

Have they got nothing else to publish?

Independent non-correspondent interviewing Thaksin in London - what has it got to do with Switzerland?

Thaksin blowing fuse in a Swiss bank would be a good reason.

PS. Perhaps he got caught in his own nominee web - they never dealt with him and didn't know him personally.

I think the story is already out that he didnt know how to access his numbered account and got a tad upset thereby creating a news story from left field that damaged him before his advisers told him to downplay what was his own lack of knowledge of a system he had not preiously had to access.

More interestingly the question now occurs why was he all of a sudden and probably for the first time accessing his bolt-hole accounts?

I find this interesting and amusing, and very possibly a true scenario.

Thaksin would never leave the real information on the surface, it is always hidden. It has taken this long to sift through all the dead-ends finding Thaksin’s money so far. Thaksin very probably did the same with his Swiss bank accounts and lost the real information effectively freezing his own accounts. It certainly would be a good belly laugh if that was the case.

[A_Traveller]

Now this is bizzare:-

ASC needs help with baggage scan case

(BangkokPost.com) - The Assets Scrutiny Committee insisted on having the Foreign Ministry translate documents concerning the CTX luggage scanner case.

Ousted premier Thaksin Shinawatra faces corruption charges in the procurement of 26 CTX bomb scanners used at Suvarnabhumi Airport.

ASC chairman Nam Yimyaem said the document is confidential so the ASC cannot hire anyone to translate it.

The Foreign Ministry denied it would help with the translation work.

The ASC will meet with Foreign Ministry on Thursday afternoon to discuss the matter.

Emphasis added.

Regards

[A_Traveller]

There's a piece in the Nation, where they've brought out a transcript {+Video} of an interview 28 November 2000, where Win Mark is mentioned and Thaksin states categorically that it is a separate foreign company looking to buy shares.

Host: Ample Rich. You knew about it?

Thaksin: Yes. We needed to have some shares registered as foreign registered. Because when we register in New York in the future, the shares can be sold.

Host: To facilitate the sale of shares in New York?

Thaksin: Yes.

Host: No hidden agenda? Nothing to hide?

Thaksin: No. I reported this to the stock market authorities and I reported it in assets reports.

Host: Win Mark. You said this company bought shares from your company. People are wondering if it really exists. There are claims you may again have sneaked out and set it up.

Thaksin: No. No.

Host: It's a normal purchase then. It's a foreign company buying your shares.

Thaksin: That's right.

Link

Regards

[sriracha john]

In addition to the interview evidence... more paper evidence....

Thaksin shown to own firm while PM

Incriminating evidence found in SEC filings on Ample Rich, Win Mark connection

Contrary to his claim that he had transferred his interest in Ample Rich Investments to his two children in 2000, Thaksin Shinawatra was still the beneficial owner of this obscure offshore company at least up until June 2005 while he was serving as prime minister, Thai investigators have found.

According to a UBS AG Singapore document obtained by the Thai investigators and The Nation, Thaksin's name appeared on a corporate certificate submitted to UBS and signed by Lau Hwee Tiang and Kanjanapa Honghern. The corporate certificate, dated June 11, 1999, certified that "any withdrawal is to be authorised by Dr T SHINAWATRA solely".

Tiang and Kanjanapa, who is a personal secretary to Khunying Pojaman Shinawatra, served along with Thaksin as directors of Ample Rich, which held a 10-per-cent stake in Shin Corp. UBS AG Singapore was acting as custodian and managing brokerage accounts for Ample Rich Investments' trading activity.

Right after selling his family's 49-per-cent stake in Shin Corp to Temasek Holdings of Singapore, Thaksin was forced to come out again to admit that he had owned Ample Rich, which was incorporated in the British Virgin Islands. But he insisted that he had transferred his interest in Ample Rich to his two children, Panthongtae and Pinthongta Shinawatra, right before he entered politics in 2000.

Thai law requires public office holders to hold shares in companies amounting to less than 5 per cent of the total share capital, and bars them from having any interest in companies that have gained concessions or monopoly businesses from the government. At the same time, all assets held by the public office holders must be filed to the National Counter Corruption Commission for public knowledge.

But another document from UBS AG Singapore showed that Panthongtae and Pintongta replaced Thaksin, Tiang and Kanjapana as directors of Ample Rich with full authority on June 29, 2005. This implies that at least up until June 28, 2005, Thaksin was still the beneficial owner of Ample Rich, contrary to his claim that he transferred his interest in the offshore company to Panthongtae on December 1, 2000.

Thaksin won the election in January 2001 and served as prime minister until September 2006 when he was toppled by a military coup.

Another crucial finding of the Thai investigators is that Win Mark, another twin offshore company with Ample Rich, was not only assigned to hold shares of SC Asset on behalf of Thaksin and Pojaman, but also shares of Shin Corp. The Department of Special Investigation is bringing charges against Thaksin that he was using Win Mark, which shares the same address in the British Virgin Islands as Ample Rich, as a nominee to conceal his overseas assets.

Thaksin gave an interview to TV host Sorrayuth Suthasanachinda on November 28, 2000, and admitted that he owned Ample Rich but denied any knowledge about Win Mark, which, as he suggested, was only a foreign company. At the time, he was about to enter into a bitter legal battle to defend charges that he had concealed his assets through his household servants and maids. He won the case at the Constitution Court in 2001 by a narrow margin.

Since he denied any involvement with Win Mark, this offshore company has returned to haunt him again.

The case of Win Mark, apart from its complicated stock dealings with SC Asset and a number of real-estate companies of the Shinawatra family, surfaced again after Thaksin's family sold 49 per cent of Shin Corp to Temasek for Bt73.4 billion in January 2006. UBS AG Singapore was apparently looking after the accounts of both Ample Rich and Win Mark.

Ample Rich was holding about 10 per cent in Shin Corp, compared to more than 1 per cent for Win Mark. Win Mark's role would have helped the Shinawatra family maintain at least 51 per cent of Shin Corp in order to assure management control. But the problem is that Thaksin has never admitted or disclosed Win Mark's holding of Shin Corp stocks.

According to Thai investigators, on August 24, 2001, UBS AG Singapore filed a 246-2 form to the Thai Securities and Exchange Commission to declare that it was holding 10,000,000 shares (Bt10 par value then) of Shin Corp for Ample Rich and another 5,405,913 shares of Shin Corp in another account. Now the authorities believe that the 5,405,913 shares belonged to Win Mark.

UBS AG Singapore was obliged to file the 246-2 form because the combined stake of the two accounts under its custodianship breached the 5-per-cent mark to 5.24 per cent. Thai securities law requires any individual, party or company to report holdings in a publicly listed company if the stake exceeds 5 per cent. UBS AG Singapore's filing could only mean that the beneficiary owner of Ample Rich and Win Mark was the same person.

A document of the Thai Securities and Exchange Commission dated February 23, 2006, and a document of UBS AG Singapore dated February 21, 2006, also pointed to the same direction. They implied that the 10 million Shin Corp shares of Ample Rich and more than five million Shin Corp shares of Win Mark belonged to the same person.

Thai investigators also have found evidence to contradict the claim of the Shinawatra family that Ample Rich had been passively holding the Shin Corp shares in the overseas account without any trading. Ample Rich had been moving the Shin Corp stocks on several occasions, including transactions between it and Win Mark without any payment involved, which also suggested that the beneficial owner was the same person.

Now both the Department of Special Investigation and the Assets Examination Committee have evidence in their hands to prove that Thaksin had again hidden his assets overseas. Moreover, Thaksin will also be charged with using nominees from his children and close relatives to conceal his real ownership without proper disclosure and in violation of the law.

Since Shin Corp is the parent company of several affiliated companies that have concessions with the government such as telecom, TV and satellites, the authorities are now building up a criminal case of being "unusually wealthy" against Thaksin.

The Assets Examination Committee has already frozen about Bt50 billion in assets of Thaksin and Pojaman, and it will be working on cases against Thaksin to prove that while he was serving as prime minister, he implemented several policy measures to benefit Shin Corp, of which he was a true beneficial owner. If the state wins these cases, it will confiscate Thaksin's assets.

- The Nation

[John K]

Nothing new here, Thaksin still says opposite the truth. The only question is what creative answer will Noppadon give.

I wonder how big the knots are getting in the stomachs of the people that chose to believe Thaksin when selling Manchester to him.

[Plus]

They better buy lots of players before Thaksin runs out of funds.

The money wasn't stolen from them, they don't feel particularly bad about it. How often do they get a chance to really see improvements in their club? It's a once in a lifetime opportunity.

[Old Man River]

In addition to the interview evidence... more paper evidence....

According to Thai investigators, on August 24, 2001, UBS AG Singapore filed a 246-2 form to the Thai Securities and Exchange Commission to declare that it was holding 10,000,000 shares (Bt10 par value then) of Shin Corp for Ample Rich and another 5,405,913 shares of Shin Corp in another account. Now the authorities believe that the 5,405,913 shares belonged to Win Mark.

UBS AG Singapore was obliged to file the 246-2 form because the combined stake of the two accounts under its custodianship breached the 5-per-cent mark to 5.24 per cent. Thai securities law requires any individual, party or company to report holdings in a publicly listed company if the stake exceeds 5 per cent. UBS AG Singapore's filing could only mean that the beneficiary owner of Ample Rich and Win Mark was the same person.

The Nation

This is old information. 1 1/2 years ago the Democratic Party, after doing its own analysis (spearheaded by Korn), asked the SEC to follow up on this. Ultimately, the SEC publicly responded that UBS Singapore had made an error in this filling because they didn't understand Thai laws. Of course, then Thaksin was PM, now let the truth be known.

[John K]

Is it just me or is Thaksin’s reply to Win Mark taking a bit longer. I guess he can drop the not proven line now.

[lannarebirth]

Nothing new here, Thaksin still says opposite the truth. The only question is what creative answer will Noppadon give.

I wonder how big the knots are getting in the stomachs of the people that chose to believe Thaksin when selling Manchester to him.

Why would they care? I'm sure the check cleared.

[John K]

Nothing new here, Thaksin still says opposite the truth. The only question is what creative answer will Noppadon give.

I wonder how big the knots are getting in the stomachs of the people that chose to believe Thaksin when selling Manchester to him.

Why would they care? I'm sure the check cleared.

For the same reason that people who work on farms with animals look at the ground in front of them before they step.

[marshbags]

The Nation Thurs. September 13, 2007 : Last updated 19:23 hours

Quote:-

DSI asks details of AEC investigation on Win Mark

The Department of Special Investigation asked on Thursday for the details of a graft investigation into a paper company of former prime minister Thaksin Shinawatra which may shed light on another probe relating to his alleged coverup of equity stakes.

"The investigation on the Win Mark case by the Assets Examination Committee might have a bearing on the SC Asset case involving Thaksin," DSI director general Sunai Manomaiudom said.

Sunai said the DSI investigators came across a suspected linkage between Win Mark and the scam to distort equity stakes held by Thaksin and his wife Khunying Pojaman at SC Asset, the listed company for property development.

The linkage might be in a form of insider's information which is an offence under the securities law, he said.

In regard to the progress of the AC Asset case, investigators were still waiting for two company executives, Bussaba Damapong and Penchom Damapong, to give their statements before the next week's deadline, he said.

In a related development, the Anti Money Laundering Office is preparing to assign its officials to assist graft busters to trace money routing involving Thaksin.

The tracing of funds will be activated on "probable cause to suspect guilt", a legal leeway to speed up graft probes. Under normal procedures, moneylaundering officials are required to establish cause of guilt before launching an investigation.

The Securities and Exchange Commission said it was waiting for a report on the Win Mark case before launching its own investigation into insider trading relating to the sale of Shin Corp to Singapore's Temasek Holdings last January.

Thaksin has been suspected of using insider information to buy Shin shares from retail investors to boost his stakes to 49 per cent before the selloff.

The Nation

Unquote

Ref.url:- http://www.nationmultimedia.com/2007/09/13...cs_30048861.php

[Hampstead]

<snip>

thats the job of an investment bank to service a client, in this case Dr Taksin to acquire Man city football club, Keth Harris would be assigned the duty by the investment bank of making sure the deal is completed and keith harris also acts as an advisor for the Dr Taksin on all related matters concerning the football club and its future goals on and off the field

anyone can open corporations in this way to acquire an entity in the UK, it is all legal under the uk m&a laws

maybe intsead of wasting your time looking at web hosts addresses or using company house! you should learn that the the man city transaction in the eyes of the uk legal system is perfectly LEGAL

What an interesting response from an 'Elite' holder, Dr. Thaksin too, now that's unusual, most would only use the term for a clinician, do you work for Baron Bell I wonder? Did I suggest in any way shape or form that the transaction was not legal {no need to shout}? By the by to be consistent it's Dr Harris, and he's the Chairman, oddly enough he's a great Man U fan I recall. I don't think you have much to teach, never mind, at least you have exorcised your splenetic nature.

Regards

Keith Harris is not paid by Man Utd, but paid by the investment bank for consultancy matters concerning the business of football, and such is the consultant on football matters for dr Taksin

i really think its time you undertsood that maybe your wasted time looking at host addresses and looking through company house archives has just about wasted the best part of a few hours of your life

as for my visa status in thailand, i have never shared that personnel info on tv, and never will

a little sad to think that you have wasted so much of your life in chasing a legal corporation in the uk for which Dr Taksin has purchased man city through to find out that under the rules of the uk legal system

that!!!

wait for it!!!

ITS LEGAL

[A_Traveller]

Sorry to disappoint, but it took me less than 180 seconds to find the data I published.

Try reading the post not assuming you know what it says. Dr Harris is the chairman of Seymour Pierce the investment bank, indeed he's been trying to sell it on and off over the last year.

Regards

PS Yes to be facetious I've deliberately taken longer to write and edit this post than find the prior data.

Edited September 13, 2007 by A_Traveller

[John K]

Thaksin has been unusually quiet from the announcement that the Thai government holds incriminating evidence on Win Mark. In the past this always signaled a shift in Thaksin’s strategy.

If I were to guess with Thaksin’s dwindling options, he is one the phone with tea money offers.

[Bill97]

This morning BBC reported that the Swiss have a new policy about cracking down on money from corrupt politicians which has probably been in the works for a while and might be related to all this.

http://news.bbc.co.uk/2/low/europe/7005814.stm

[sriracha john]

In his honor, they could call it the Thaksin Statute of 2007...

[John K]

As stated before, Thaksin makes friends in his own special way.

[sriracha john]

13th freeze of Thaksin's assets set

The Assets Scrutiny Committee (ASC) is believed to be making preparations to freeze more assets belonging to ousted premier Thaksin Shinawatra’s family members. The ASC could be ordering the freeze of 900 million baht worth of assets and/or cash. If confirmed, this will be the 13th time that the committee had frozen assets linked with the Shinawatra clan. The ASC is said to have discovered the latest stash of money that was acquired through the controversial sale of shares of Thaksin’s communications powerhouse, Shin Corp. to Temasek Holdings of Singapore tax tree. Officials say the money was hidden under the names of Thaksin’s son, Panthontae, his sister, Pinthongta, the step-brother of Thaksin’s wife, Bannapot Damapong and Yingluck Shinawatra, Thaksin’s sister.

http://www.bangkokpost.com/breaking_news/b...s.php?id=121973

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

Assets Probe Panel to Freeze More Assets Related to Exiled PM and Family

The Assets Examination Committee (AEC) is preparing to freeze another 900 million baht worth of assets belonging to the exiled prime minister and his relatives.

The Assets Examination Committee is considering the 13th freeze of the Shinawatra family's assets worth 900 million baht, currently held by the Thaicom Foundation.

The panel has already frozen more than 70 billion baht worth of assets and cash, stemming from the sale of Shin Corp to Singapore's Temasek Holdings.

The AEC recently discovered that another stash of money from the sale has been transferred to the Thaicom Foundation.

The panel found the money belongs to Panthongtae and Pinthongta Shinawatra, children of ousted prime minister Thaksin Shinawatra - Thaksin's brother-in-law, Bannapoj Damapong - and Thaksin's sister, Yingluck Shinawatra.

- Thailand Outlook

[sriracha john]

Delay #1

Mr Amnuay is also chairman of an ASC panel considering evidence from members of the Shinawatra family and relatives regarding frozen assets. He said the panel had approved a request by Thaksin's niece, Chinnicha Wongsawat, seeking postponement of a meeting until Sept 27. Ms Chinnicha, the daughter of Thaksin's younger sister, Yaowapa Wongsawat, was asked to give her statements on Aug 24. Some of her bank accounts were also frozen by the ASC.

Continued here:

http://www.bangkokpost.com/News/27Aug2007_news11.php

Delay #2

AEC gives Chinnicha time

The Assets Examination Committee (AEC) decided yesterday to allow Chinnicha Wongsawat to postpone testifying to the graft panel due to "business obligations" she has overseas, a source said.

Chinnicha is a daughter of Yaowapa Wongsawat and niece of deposed prime minister Thaksin Shinawatra.

Chinnicha had asked the AEC to release Bt100 million "frozen" in her bank account, after a transfer from Bhanapot Damapong, Thaksin's brother-in-law.

The AEC suspected the money was part of the proceeds from the sale of Shin Corp to Singapore's Temasek Holdings.

- The Nation

[John K]

Delay: Delay is a two part word De-lay. De mean not or avoid. Lay is a slang word that refers to sexual activity. In the context use in the post above, aparently Chinnicha Wongsawat is trying to avoid getting F***ed.

[marshbags]

Delay: Delay is a two part word De-lay. De mean not or avoid. Lay is a slang word that refers to sexual activity. In the context use in the post above, aparently Chinnicha Wongsawat is trying to avoid getting F***ed.

They are delaying in the hope of getting " Out of jail " / "Let off the hook " as and when the election is held.

Depending on who get,s the priviledge, determines how much of a get out it will be.

As we all know of course

Let us hope the last year doesn,t turn out to be fruitless.

Thailand of course, should it happen will then go backward into the dark days and an even worse scenario than pre

Sept. 2006.

Talk about open season for all the evil, selfish Bastards.......doesn,t bare thinking about, while not an impossible outcome or is it, when you reflect on Thai politics.???????

marshbags Naaaaaaaaaaaaaaaaaaa Neverrrrrrrrrrrrrrrrrrrrrrr

Edited September 28, 2007 by marshbags

[John K]

If you have noticed, from about March they have given up trying to hide the fact of their wrong doings and have taken on (or at least tried) an offensive. (TRT in general not only Thaksin) The best defense is a good offense???? Haven't heard from Noppadon in a while.

[Jai Dee]

Khunying Dhipavadee says she was not involved in Shin Corp’s share restructuring

The Minister attached to the Office of the Prime Minister, Khunying Dhipavadee Meksawan (ทิพาวดี เมฆสวรรค์), told the Assets Examination Committee (AEC) that she took no part in the deposed government’s approval of Shin Corp’s request to change its share structure.

The minister traveled to meet the AEC today (September 28th) to provide information concerning the operation of the IP Star Satellite as she was then permanent secretary of the Ministry of Information and Communication Technology (ICT). The AEC questioned her about the money of 33 million USD for the restoration of the satellite, Shin Corp’s share structure, as well as her responsibilities as the Permanent Secretary for ICT.

Khunying Dhipavadee assured the AEC that she had abided by laws and regulations when working as ICT Permanent Secretary. In addition, she said she had not been involved in the final decision to authorize the share restructuring of Shin Corp as she had been transferred to be Permanent Secretary for Culture.

The minister also submitted documents and evidences concerning the satellite case to the AEC’s subcommittee responsible for the investigation of this case.

Source: Thai National News Bureau Public Relations Department - 28 September 2007

[John K]

Thaksin's lawyers call on AEC to resign

The team of lawyers of former prime minister Thaksin Shinawatra Sunday called on the Assets Examination Committee to resign, saying it has not made any concrete achievement during the past year.

The lawyers - Wichit Plungsrisakul, Wibul Chaemchuen and Nikhom Chaokittisophon - held a press conference at Miracle Grande Hotel to demand the AEC members to resign.

Although the AEC has filed some cases against Thaksin, the lawyers said the panel had not reached the goal set by the coup makers.

Wichit said the AEC also issued a directive to offer "bribes" at the rate of 25 per cent to anyone who could provide leads for the freezing of assets of Thaksin.

Wichit said the AEC directive affected the national budget but it had not been tabled to the National Legislative Assembly for deliberation first.

He said his team would also file complaint with police to seek an impeachment against the AEC members for violating the national budget laws.

Wichit said three judges on the AEC Udom Fuangfoong, Amnuay Thanthara, and Jiraniti Hawanon - should also resign immediately because their holding of the AEC position vioated the code of ethics of judges, which require judges to hold no other positions.

The Nation

Quick translation for the newcomers; The AEC is on the right trail and Thaksin does not like it at all.

[sriracha john]

Thaksin's witnesses in the dark

Former prime minister Thaksin Shinawatra yesterday sought and received new deadlines to submit evidence aimed at releasing 500 million baht worth of frozen assets.

The hearing is under the jurisdiction of the Amnuay Thantara panel appointed by the Assets Examination Committee.

Under the revised schedule, Thaksin's lawyer Somporn Pongsuwan outlined documents and about 20 witnesses to be summoned for the defence of his client. The witnesses include several from Thaksin's Cabinet, such as Bhokin Bhalakula, Varathep Rattanakorn, Newin Chidchob and Pongsak Ruktapongpisal.

Former Senate speaker Suchon Chaleekrua was surprised to be listed as a defence witness. "I have no idea about what I can say to defend Thaksin and don't think I am qualified as a witness," he said.

Varathep also said he had not been approached in advance, but said he was willing to give a statement if asked.

An AEC source said Thaksin's team would have to bring the witnesses when they meet the panel.

- The Nation

[John K]

Sounds more like calling in favors and not actual witnesses. I wonder if thy know this may end up being a dance with the devil if they give false evidence, or just the fact they will get their name closer to the top of the investigators list.

[John K]

Speaking of dances with the devil, I think this dance step is known as the pocket slam.

AEC freezes Bt87 million in accounts of Thaksin's lawyer

The Assets Examination Committee resolved Monday to freeze four bank accounts worth Bt87 million of a lawyer of former prime minister Thaksin Shinawatra.

AEC spokesman Sak Korsaengruang said the accounts belong to Somporn Pongsuwan.

The Nation

[sriracha john]

Somporn was also the Shin Corps' lead lawyer that lost it's landmark case against media-reform campaigner Supinya Klangnarong in 2005.

Here's a dodgy photograph of the dodgy attorney during one of his more recent appearances to the AEC explaining Pojaman's various ailments prevented her from showing up personally:

Somporn Pongsuwan

Thailand Outlook

Edited October 15, 2007 by sriracha john

[cclub75]

Speaking of dances with the devil, I think this dance step is known as the pocket slam.

AEC freezes Bt87 million in accounts of Thaksin's lawyer

Meanwhile.... "The Assets Examination Committee Monday resolved to unfreeze Bt200 million in a bank account of ThaiCom Foundation."

"AEC spokesman Sak Korsaengruang said although the money came from the sale of Shin Corp's shares by the family of former prime minister Thaksin Shinawatra, the foundation plans to use the money for public interest so the committee decides to unfreeze the account."

Does it make any sense ?

-Ah you're going to use this money for "public interest", so go ahead.

-Thank you.

-You're welcome

Those 200 millions came from the sale of Shin... so they should stay frozen, until the investigation is over.

Therefore, the AEC is loosing (the little) credibility they have...

[John K]

Perhaps. However it is a bit difficult to know all that was said. On one side it looks like you said, however on the other it may have actually been legitimate. Unfortunately just a short news blurb is not enough to debate on.