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

[sriracha john]

Thaksin's wife postpones ASC meeting

Potjaman Shinawatra, wife of deposed PM Thaksin, asked a lawyer to postpone a meeting with the Assets Scrutiny Committee on presenting them with evidence that her family assets that were ordered frozen were earned through legal means. Lawyer Somporn Pongsuwan said Potjaman has not finished compiling documents to back up the case so she would like more time to gather the papers. Potjaman was scheduled to present the documents to the panel on Oct 17, 24, and 31, but Somporn said she would like to postpone it to Oct 31 and Dec 27.

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=122716

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Too busy attending Manchester football games and getting her hair done? Such is the hectic life of the wife of deposed and exiled despot.

[John K]

And the big question is or should I say will be if and when the friendly gathering happens....

ASC: Well Potjaman if that is not the Shin money, there where is the Shin money?

Potjaman : I don’t know but as soon as I find out I will tell you.

[sriracha john]

Yet another "Shinawatra" with yet another delay, but at least this time it's not due to some malingering health condition and actually is counter-productive to the Shinawatra Empire as it delays some of their money being released, albeit a drop in their ocean.....

Probe panel gives Thaksin's niece more time

The Assets Scrutiny Committee has allowed the niece of ousted premier Thaksin Shinawatra to postpone testifying to the graft panel after she claimed she is busy campaigning for the Dec 23 election. The probe panel decided to allow Chinnicha Wongsawat, the daughter of Thaksin's younger sister Yaowapa, to testify on Jan 11. Chinnicha had asked the ASC to release 100 million baht frozen in her bank account after a transfer from Banapot Damapong, who is the brother-in-law of Thaksin, was made. The ASC suspected the money was part of the proceeds from

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=123221

Edited November 3, 2007 by sriracha john

[sriracha john]

Another Shinawatra... Another Delay...

Thaksin's son postpones testifying to ASC

Legal adviser to ousted PM Thaksin Shinawatra’s family, Kittiporn Arunrat, handed a document to the Assets Scrutiny Committee (ASC) on Wednesday, claiming that his son Panthongtae was unable to testify against the ASC’s order to freeze 1.7 billion baht kept in an account under his name as he needed more time to gather documented evidence. Panthongtae, who had set November 7 as the date for him to testify against the assets freeze case, was also due to speak in defense of his ownership of a piece of land in Pak Chong district in Nakhon Ratchasima province worth 27 million baht. "Panthongtae has requested to testify on November 21 instead,” Kittiporn told reporters. “He also plans to bring a witness to testify on that day,” he added.

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=123362

[John K]

I really think things have kicked down a gear or two. Perhaps from uncertainty of the election turnout and they don’t want be in the cross hairs if it goes PPP.

[sriracha john]

oh, the woe ... of Thaksin's brother-in-law...

AEC shrugs off Bhanapot

The Assets Examination Committee's investigative panel yesterday rejected a request from the lawyers of Bhanapot Damapong for documents needed to unfreeze his assets worth 20 Billion Baht, a source said.

Bhanapot's lawyer Pichit Chuenban asked the AEC panel, led by Amnuay Thantara, to return 23 sets of documents that had been handed over to the National Counter Corruption Commission (NCCC) as evidence to support Bhanapot's asset holdings.

Pichit said the AEC panel told him to first find the documents himself, and if they could not be located, to file a complaint with the committee. An AEC source said it was not the body's duty to provide documents that could be used to revoke its freeze order.

Meanwhile, the lawyer accused the AEC of having double standards, saying that on the one hand Bhanapot had been taxed for certain assets on grounds that they belonged to him, but on the other hand the AEC claimed that Bhanapot did not own these assets, and accused him of being a nominee of Thaksin Shinawatra.

He said Bhanapot has already brought the matter to court, accusing the AEC of unjustified treatment.

- The Nation

[sriracha john]

NCCC says Thaksin is richer than ever

National Counter Corruption Commission released details of assets declarations of ministers under the Thaksin Shinawatra administration one year after the coup. Thaksin reportedly has assets of 614 million baht, which is 57 million baht more comparing to a year before. His wife Potjaman has assets of 8.6 billion baht, which is 247 million baht less comparing to last year. The couple have assets of about 9 billion baht altogether. yeah right, as if...

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=123608

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Thaksin's true wealth has been evaluated as high as 200 billion, making him the richest person in Thailand.

http://www.thaivisa.com/forum/index.php?ac...amp;pid=1418738

[sriracha john]

Thaksin Bt57 million richer, wife Bt247 million poorer: NCCC

Former prime minister Thaksin Shinawatra is Bt57 million richer while his wife, Pojaman, Bt247 million poorer one year after the September 2006 coup, the National Counter Corruption Commission announced Thursday.

It announced that Thaksin now has Bt614.393 million worth of assets compared with Bt557.125 million when he was toppled by the coup makers on September 19 2006.

The NCCC announced that his wife now has Bt8.484 billion worth of assets compared with Bt8.842 billion when Thaksin was toppled last year.

- The Nation

[sriracha john]

Lawyer asks ASC to unfreeze Pinthongta's assets

Lawyer of Pinthongta Shinawatra, daughter of ousted premier Thaksin, presented documents to the Assets Scrutiny Committee, asking it to unfreeze assets of Pinthongta. Lawyer Kittiporn Arunrat said part of the evidence to support that Pinthongta's assets are earned through legal means is submitted on Wednesday while the rest will have to wait until the Securities and Exchange Commission (SEC) and Stock Exchange of Thailand (SET) provide him more information. Kittiporn said he will complete gathering the evidence before Dec 12. He denied trying to drag the process until after Dec 23 election, when the

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=123792

[sriracha john]

Thaksin's going to get his buddies into hot water....

Bank bosses face AEC lawsuit

Unnamed bank 'broke' order by releasing millions from frozen Shinawatra accounts: source

The Assets Examination Committee will file a complaint against executives of a bank for allowing millions of baht in interest to be withdrawn from the frozen accounts of the Shinawatra family, a source said yesterday.

The money on which the interest was earned came from the proceeds of the Shin Corp share sale.

An AEC panel, led by Viroj Laohapan, reported the interest was transferred to saving accounts and the bank had allowed the money to be withdrawn during the run-up to the general election without notifying the AEC.

"The bank executives obviously broke the AEC's order [to freeze the accounts] and committed a criminal offence,'' the source said.

- The Nation

[sriracha john]

The water is almost ready to boil now...

AEC to Sue Bank for Releasing Thaksin’s Frozen Funds

The Assets Examination Committee (AEC) planned to file a complaint against a group of unnamed bank executives for approving the release of millions of baht in interest from the frozen bank accounts of deposed Prime Minister Thaksin Shinawatra and his family.

The principle amount of cash in the frozen accounts on which the interests were earned had arrived from the proceeds of the Shin Corp. share sale, which was traded between the Shinawatra family and Singapore’s Temesek Holding.

According to an AEC panel, headed by Viroj Laohapan, millions of baht in interest has been transferred to several saving accounts of the Shinawatra family, as the bank also allowed the funds to be withdrawn during the lead-up period to the December 23rd general election without notifying the committee in advance.

Viroj claimed that the bank executives had disobeyed the AEC’s order of freezing the accounts by approving the interest release without the committee’s consent and therefore, had committed a criminal offence.

- Thailand Outlook

[sriracha john]

The ASC yesterday ordered an additional freeze of more than 15 million baht on the assets of Bannapot Damapong, the stepbrother of Mr Thaksin's wife, Potjaman. Sak Korsaengruang, the ASC spokesman, said the assets frozen yesterday included the 57 million shares Mr Bannapot held in Thanachart Capital Plc and their future dividend, the 15.4 million baht dividend already paid to Bannapot from holding the shares, a savings account at Thanachart Bank, 28.9 million shares and their future dividend in Kasikorn Bank, and 15.9 million shares and their future dividend in SC Asset Corp Plc.

Continued here:

http://www.bangkokpost.net/News/12Dec2007_news15.php

[sriracha john]

Yet another "Shinawatra" with yet another delay, but at least this time it's not due to some malingering health condition and actually is counter-productive to the Shinawatra Empire as it delays some of their money being released, albeit a drop in their ocean.....

Probe panel gives Thaksin's niece more time

The Assets Scrutiny Committee has allowed the niece of ousted premier Thaksin Shinawatra to postpone testifying to the graft panel after she claimed she is busy campaigning for the Dec 23 election. The probe panel decided to allow Chinnicha Wongsawat, the daughter of Thaksin's younger sister Yaowapa, to testify on Jan 11. Chinnicha had asked the ASC to release 100 million baht frozen in her bank account after a transfer from Banapot Damapong, who is the brother-in-law of Thaksin, was made. The ASC suspected the money was part of the proceeds from

Continued here:

<a href="http://www.bangkokpost.com/breaking_news/b...s.php?id=123221" target="_blank">http://www.bangkokpost.com/breaking_news/b...s.php?id=123221</a>

A delay to the delay above....

In a related development, the AEC has allowed Chinnicha Wongsawad, niece of the ousted premier, to reschedule her testimony date. The committee is in the process of deliberating whether it should release assets earlier frozen in the Shinawatra share deal.

Last week, the AEC expected Chinnicha to testify on January 11th. However, her lawyers requested a continuance. The request was granted by the committee but she will be required to make an appearance by January 17th.

- Thailand Outlook

[sriracha john]

Pojaman's lawyer says AEC info is flawed

Pojaman Shinawatra's lawyer yesterday accused the Assets Examination Committee (AEC) of attempting to discredit her with incorrect information.

Noppadon Pattama, a legal adviser to the Shinawatra family, said an AEC source gave the press incorrect information about the money Pojaman had received from Shin Corporation in 1997.

The AEC source, he said, stated that the firm gave more than 1 Billion Baht to Pojaman, wife of deposed premier Thaksin, through three bank transfers.

Noppadon clarified that the firm had only returned her the money which she, as the biggest shareholder, had loaned it in order to ease difficulties caused by the baht depreciation in 1997.

Meanwhile, Chinnicha Wongsawat, Thaksin's niece, testified to the AEC panel yesterday. She insisted that the 100 Million Baht in her bank account frozen by the AEC was a business loan from her uncle, Bhanapot Damapong.

Chinnicha is a daughter of Thaksin's sister, Yaowapa Wongsawat, and Bhanapot is Thaksin's brother-in-law.

Chinnicha had appealed to the AEC to release the frozen 100 Million Baht. The AEC suspected the money was part of the proceeds from the sale of Shin Corp to Singapore's Temasek Holdings.

- The Nation

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Sure is a lot of "loaning" going on with the Shinawatra clan.

[Jai Dee]

5 people from AEC to join new committee on 2-3 digit lottery case

Chairman of the subcommittee on the two and three-digit lottery case under the Asset Examination Committee (AEC), Udom Fuangfung (อุดม เฟื่องฟุ้ง), discloses that the AEC meeting today will select five people to join a new committee on the case. The rest five members of the committee are officials from the Office of the Attorney-General (OAG).

According to Mr Udom, the five people selected by AEC should work in private law organizations. He expects that the new committee will be officially appointed within these two days and it can start working this week.

The AEC-OAG joint committee has the working framework of 30 days. Mr Udom says if the committee fails to reach consensus to indict 47 alleged people, AEC will directly request the court to take action against them.

Source: Thai National News Bureau Public Relations Department - 21 January 2008

[brahmburgers]

The basic policy for Thaksin, his family and cronies is to continue to delay.

When Samak is firmly in place, all the legal wranglings will unravel and frozen assets will thaw.

Thai voters gave a majority to Thaksin's people. Thailand deserves what it gets. There's no way the Thai people can get started on cleaning up their act if they wash their hands in muddy water.

[John K]

The basic policy for Thaksin, his family and cronies is to continue to delay.

When Samak is firmly in place, all the legal wranglings will unravel and frozen assets will thaw.

Thai voters gave a majority to Thaksin's people. Thailand deserves what it gets. There's no way the Thai people can get started on cleaning up their act if they wash their hands in muddy water.

I think you are not giving enough credit to the Thais. It is all about numbers and Thaksin is playing that. There are far more voters with a lesser education. I am sure the educated ones were working to avoid this but the numbers where not in their favor.

[sriracha john]

UPDATE.... and the answer is STILL no

Potjaman's brother, Bannapot Damapong

Admin Court Denies Considering Bannapot's Charge against Assets Panel

The Supreme Administrative Court has refused to consider the complaint against the Assets Examination Committee by a close relative of the former Prime Minister, citing that the case is not under its juridical power.

The Supreme Administrative Court has refused to hold a hearing regarding the complaint against the Assets Examination Committee filed by Bannapoj Damapong, brother-in-law of former Prime Minister Thaksin Shinawatra.

Bannapot's lawyer, Pisit Polrakkhet, claims the AEC's assets freeze orders on his client's business has caused him damage as the move has resulted in him being unable to make contracts with others and to conduct financial-related activities. :crying:

The Supreme Administrative Court has ruled that the complaint is not under its juridical power and that the hearing for the matter must be held by the Criminal Court.

The lawyer will therefore discuss the situation with Bannapoj further, as to whether to file a complaint with the Criminal Court.

- Thailand Outlook

Edited March 6, 2008 by sriracha john

[sriracha john]

UPDATE...with his plans for the money IF they are unfrozen...

Former Thai PM Thaksin plans $5 Billion *157,500,000,000.00 Baht* equity fund

DUBAI - Former Thai Prime Minister Thaksin Shinawatra plans to set up a private equity fund with up to $5 billion to invest in Asian companies if he regains access to family assets frozen over graft charges.

Thaksin was ousted in a military coup in 2006, and was later charged with corruption and had nearly $2 billion *63,000,000,000.00 Baht* of family assets frozen.

"If I get my money back I will set up a private equity firm with friends to invest in Asia," Thaksin told reporters in Dubai on the sidelines of a business conference on Wednesday.

He said up to 20 friends would each contribute $250 million *7,875,000,000.00 Baht* to the proposed fund.

After a party that backs him won a general election this year, he returned from exile to face the corruption charges.

At a court hearing last month he pleaded not guilty to the corruption charges against him and his wife.

Thaksin says he will stay out of politics, focusing his energy on his family, on business and on Manchester City football club which he bought last year. But many believe he will soon return to politics, particularly now that his supporters are back in power.

The new coalition government wants to amend the new constitution introduced after the coup. Thaksin said such a move was necessary to restore investor confidence in Thailand.

"We have to restore investor confidence after the coup. Confidence is key," he said. "Politically the country has to be more stable. The constitution is a product of the military junta and has to be amended."

Although he says he will keep out of politics, Thaksin has repeatedly promised to use his wealth and contacts to help Thailand. Last week he told a Thai economic forum he would use his connections to attract foreign investment.

- Reuters / April 16, 2008

Edited April 16, 2008 by sriracha john

[sriracha john]

Thaksin plans a $5 Billion private equity fund for Asian stocks

Ousted prime minister and Manchester City Football Club-owner Thaksin Shinawatra said he would launch a US$5-billion (158 Billion Baht) private-equity fund that would invest in Asian stocks.

"There's about 20 of us who are looking at this fund, and we'd invest about $250 million each," said Thaksin, who is in Dubai.

"It would invest in Asian stock exchanges and new companies, focusing on Asia, as that's where I know," he said without further elaboration.

- The Nation (today)

[Tony Clifton]

Nice try.

[sriracha john]

Probe panel gives Thaksin's niece more time

The Assets Scrutiny Committee has allowed the niece of ousted premier Thaksin Shinawatra to postpone testifying to the graft panel after she claimed she is busy campaigning for the Dec 23 election. The probe panel decided to allow Chinnicha Wongsawat, the daughter of Thaksin's younger sister Yaowapa, to testify on Jan 11. Chinnicha had asked the ASC to release 100 million baht frozen in her bank account after a transfer from Banapot Damapong, who is the brother-in-law of Thaksin, was made. The ASC suspected the money was part of the proceeds from

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=123221

A delay to the delay above....

Chinnicha Wongsawat

In a related development, the AEC has allowed Chinnicha Wongsawat, niece of the ousted premier, to reschedule her testimony date. The committee is in the process of deliberating whether it should release assets earlier frozen in the Shinawatra share deal.

Last week, the AEC expected Chinnicha to testify on January 11th. However, her lawyers requested a continuance. The request was granted by the committee but she will be required to make an appearance by January 17th.

- Thailand Outlook

Pojaman's lawyer says AEC info is flawed

Pojaman Shinawatra's lawyer yesterday accused the Assets Examination Committee (AEC) of attempting to discredit her with incorrect information.

Meanwhile, Chinnicha Wongsawat, Thaksin's niece, testified to the AEC panel yesterday. She insisted that the 100 Million Baht in her bank account frozen by the AEC was a business loan from her uncle, Bhanapot Damapong.

Chinnicha is a daughter of Thaksin's sister, Yaowapa Wongsawat, and Bhanapot is Thaksin's brother-in-law.

Chinnicha had appealed to the AEC to release the frozen 100 Million Baht. The AEC suspected the money was part of the proceeds from the sale of Shin Corp to Singapore's Temasek Holdings.

- The Nation

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

Sure is a lot of "loaning" going on within the Shinawatra clan.

Follow-up with Chinchilla, now that she is an nominee proxy MP....

Chinnicha Wongsawat

Young and Eager

Even though Chinnicha Wongsawat is only 26 and really replacing her mother in the political field, this youthful MP has big plans ahead.

There is an old saying: "Crises always lead to new opportunities," and Chinnicha Wongsawat is no exception to this rule.

At 26 years of age, Chinnicha finds herself the youngest MP after winning the December 2007 general elections in her home town of Chiang Mai.

"It is an honour to be given a chance to serve both the country and the voters who have faith in me," she says.

However, Chinnacha would not have entered this field if her mother Yaowapa (TRT Banned #13), the younger sister of former premier Thaksin Shinawatra, did not have to serve a five-year ban from politics. The Constitutional Tribunal dissolved the Thai Rak Thai Party in May 2007 and prohibited 111 of the party's executives from running for election.

With no choice and a penchant for politics, Yaowapa decided to have her eldest daughter replace her :D in running for Parliament in Chiang Mai's Constituency 1.

"I got interested in politics after what I witnessed travelling with my mother on her election campaigns," Chinnicha says.

She was particularly inspired after she met a lot of people in dire straits. She wished she could become an MP and help them, and sure enough, her dream came true when she won in the December polls.

However, the rookie was faced with many new challenges. "I used to get so excited when I stood up to deliver my views during sessions in the House," Chinnicha says. Luckily, senior MPs are always at hand to give her advice on how to cope with certain situations, she adds. "These are valuable experiences that I could never get from books."

Still, despite her exuberance, Chinnicha does not have any particular plans for this political journey she is on. "I only think of how I can help people and make them trust in me to be their voice," she says.

- Daily Xpress / April 28, 2008

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

In the 2 photos, Chinchilla seems to have gotten even more fat since the election.... oh well, DNA can be a real curse sometimes...

Yaowapa Wongsawat (TRT Banned #13)

Edited April 27, 2008 by sriracha john

[sriracha john]

UPDATE... moving from frozen to seized status...

AEC rocks Thaksin with call to seize 76 Billion Baht

The Assets Examination Committee (AEC) yesterday submitted a report on the wealth of former prime minister Thaksin Shinawatra for prosecution review and recommended judicial proceedings to seize 76 Billion Baht.

The seizure, if sanctioned by the judicial review, will include 62 Billion Baht already frozen by the AEC.

AEC member Kaewsan Atibhodi personally supervised the handing over of the report, comprising 43 files packed in seven boxes, to Chief Prosecutor Seksan Bangsomboon.

The report outlines six abuses of power with which Thaksin allegedly enriched himself and his family to warrant the recommended seizure.

When Thaksin assumed office in 2001, he and his wife Pojaman retained equity stakes in Shin Corp, Kaewsan said. As an office holder, Thaksin abused his office to benefit the telecom company which in turn made him richer.

Thaksin's decisions, ruled by the AEC as an abuse of power, include a satellite concession, lenient excise tax for mobile phone prepaid charges, fees for roaming services, violations of asset declaration rules and the Exim Bank loan to finance a telecom deal.

Kaewsan said Thaksin was directly involved in the controversial bank loan and the excise charges, both of which boosted his net worth.

Even though Thaksin had owned Shin shares before taking office, his actions while in office increased their value, classified under the graft law as corruption to enrich oneself, he said. Ill-gotten gains from unlawful actions are liable for seizure as state property, he said.

Prosecutors have 30 days to complete the review and are expected to meet the deadline as there are 12 assigned to the case, Seksan said.

Should the prosecution review be in favour of the AEC report, the case will be litigated in the Supreme Court.

- The Nation (today)

[ThaiAdventure]

There go the Manchester City transfer monies....lol.

[A_Traveller]

Last paragraph of a news story about one hour ago [09:29 UK]about Man City Manager 'splitting with club

But his former lawyer Noppadom Pattama, who is now Thailand's foreign minister, told BBC Sport that he expected these assets to be unfrozen in the near future.

LINK

[Tony Clifton]

Near future? He's been delaying his trials over and over.

[brahmburgers]

He said up to 20 friends would each contribute $250 million *7,875,000,000.00 Baht* to the proposed fund.

can I be one of his friends too? I can only raise $249.7 million, but is that ok - please - and is it limited to only 20 of Mr. Thaksin's friends, or would he consider me as his 21st friend?

[slapout]

If you do not count family, old business associates (who got screwed), and politicians who have lost favor over the past few days, I wonder where he will find 20 friends? I may add .3 mil to brahmburgers money so he qualifies money wise but please, do not add me to the long list of friends. Wonder what the friends will be promised for their contribution?

[sriracha john]

AEC instructs financial institutions to continue freezing assets of Shinawatra family

A meeting between the Assets Examination Committee (AEC) resolved to instruct financial institutions to continue freezing assets of members of the Shinawatra Family as their cases have grounds.

AEC Spokesman Sak Korsaengruang disclosed that AEC has received letters from the financial institutions, asking for guidelines on the asset freezing of the Shinawatra Family members as AEC’s term is nearly end. The meeting has agreed to uphold to AEC’s asset freezing order in line with the 30th announcement of the Council for Democratic Reform.

The allegations of the Shinawatra Family members which led to the asset freezing include abnormal wealth and illegal earning of assets.

As for other cases investigated by AEC, the spokesman says AEC has forwarded the case of electricity wire system of the Suvarnabhumi Airport to the Attorney-General today and it will submit the case of Krung Thai Bank to the Attorney-General on June 16th.

- ThaiNews (today)

[Moonrakers]

I wonder how much this will affect Man City's spending budget for next season.