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

[Moonrakers]

Hang on.

So the Revenue department are threatening to sue the bank if it does not release the money, yet any such action would have to go through a court of the same justice system that is ordering the money to remain frozen.

Or am I missing something here?

[hammered]

Addendum:

It should be added, however, that SCB was also where the biggest bundle of the seized assets was sitting, which might also account for its targeting:

The collected assets of Thaksin and his family were frozen in 16 bank accounts, including 18.1 Billion Baht at Bangkok Bank, 2.1 Billion Baht at the Bank of Ayudhya, 39.6 Billion Baht at Siam Commercial Bank, 1.4 Billion Baht at Thanachart Bank, 500 Million Baht at the Bank for Agriculture and Agricultural Cooperatives, 15.7 Billion Baht at the Government Savings Bank, 10 Billion Baht at the Islamic Bank of Thailand, and 2.7 Billion Baht at the Securities and Land Depository Centre.

but it would also depend upon which of the 16 accounts were specifically in Pin and Pan's names... and if that amount and situation only applied to SCB, then it could explain why it was being targeted.

It certainly begs the question of whether other banks were also so approached.

[sriracha john]

I think if their scam involved going through the Revenue Dept. as a means to secure funds, they were likely limited to SCB as they had to specifically justify it as payment for Pin and Pan's tax bill and that they tried to go after it "officially" through the Revenue Dept.'s previously adjudged payment to the bank that held their funds in their account names in that amount. If this was the scenario they would have confined their approach to only SCB.

They probably researched all sorts of possible back-door options they could to possibly to get at the money...and struck upon this plan to get Pin and Pan's money back through the Revenue Dept. using this "nearly-the-weekend-bank robbery" scheme, timed to occur before the Attorney-General solidified the hold on the money today AND while the boss of the Revenue Dept. was absent in a the mice will play while the cat's away scenario.

They'd have been more successful if they had just used sawed-off shotguns.

[Samuian]

Just one simple question: "if they (P&P) are willing to pay the revenue department now, why didn't they pay the bill in the first place to avoid this mess"?

"what ever it takes, whatever...."

[hammered]

Just one simple question: "if they (P&P) are willing to pay the revenue department now, why didn't they pay the bill in the first place to avoid this mess"?

"what ever it takes, whatever...."

The specualtion is that the money gets moved to the revenue department and then the revenue department reinterprets teh liabilty and hence has no reason to keep the money which gopes back to P&P. nterestibngly it is claimed that the request was backed by an immediate threat of legal action if the money wasnt immediately transferred. That is unusual.

[sriracha john]

One of the legion of Thaksin's spokesmen speaks today regarding the asset freezing... and weaves quite a yarn...

--------------------------------------------------------

"There is no justifiable reason to claim that he and his family are unusually wealthy,'' Pongthep Thepkanjana, a spokesman for Thaksin, said by phone today. "These are all assets he had before he became prime minister.''

- Bloomberg / August 25, 2008

---------------------------------------------------------

but yet, the 76 Billion Baht doesn't seem to be quite so accountable "before he bacame prime minister"... despite the Imelda-ish trappings of the little missus...

---------------------------------------------------------

Despite four years of economic despondency, the new cabinet has been exposed as a recession-proof rich man's club whose 35 members hold average assets of £10 million. In a country where the average wage is £2,500 a year, half the cabinet are sterling millionaires. The wealthiest, according to assets declared, was the public health minister, a landowner worth £14 million.

The Prime Minister, Thaksin Shinawatra, a telecommunications tycoon, would have topped the list had much of his wealth not been transferred to his 22-year-old son over the past three years. Mr Thaksin declared assets of £9.5 million, while his wife, Pojamorn, showed shares, land and property worth £165 million.

She also had more jewellery than any other cabinet spouse, with 98 items worth £4.6 million.

- Telegraph (UK) / June 20, 2001

----------------------------------------------------------

and oh, the assets he transferred to his son?

In December 2000, Thaksin, rocked by the assets-concealment inquiry, was said to have "sold" Ample Rich to his son, Panthongtae, for $1.

- The Nation / April 23, 2007

[Old Man River]

Just one simple question: "if they (P&P) are willing to pay the revenue department now, why didn't they pay the bill in the first place to avoid this mess"?

"what ever it takes, whatever...."

The specualtion is that the money gets moved to the revenue department and then the revenue department reinterprets teh liabilty and hence has no reason to keep the money which gopes back to P&P. nterestibngly it is claimed that the request was backed by an immediate threat of legal action if the money wasnt immediately transferred. That is unusual.

And it came in on a Friday afternoon, when it was hoped that the seniors would be gone for the weekend leaving those lower down the totem poll to make an uninformed decision. Nice try TRD. Everyone now knows where your politics are.

[sriracha john]

Surapong opens the door at Revenuegate...

Finance Minister orders Revenue Department to collect Shinawatra family taxes

BANGKOK, Aug 25 (TNA) -- Surapong Suebwonglee, Deputy Prime Minister and Finance Minister [and co-defendant with Thaksin in the lottery case], said Monday he had ordered the Revenue Department to send letters to banks to release frozen money of ousted prime minister Thaksin Shinawatra and his family members so that it can be paid as taxes.

According to the Finance Minister, there is a vacuum at present, and the limit of the period for freezing Thaksin's is not known. The Ministry of Finance, he asserted, especially the Revenue Department, must strictly abide by the law in asking for the return of the frozen assets.

Whether the assets of Thaksin, now seeking asylum in Britain, could be returned depends entirely on each government unit's interpretation, according to Surapong, known to have close ties with the former premier who was ousted in a bloodless coup nearly two years ago on September 19, 2006.

The most important concern, Surapong said, is whether government officials carry out their tasks, even while there must be an explanation to the public as to whether the frozen money will be forfeited and become state revenue.

The Deputy Prime Minister's remarks were made as the prosecution team handling the seizure of the assets of the multi-billionaire ousted premier early Monday submitted evidence to the Supreme Court's Criminal Division for Holders of Political Positions to order the seizure of the assets.

Critics say that the Revenue Department has no authority to unfreeze the assets of Shinawatra's family unless the court has given it the green light.

[AlexLah]

The question is, Who ordered the release of the money.

Was it Surapong?

I mean was it really him ore some other forces?

Edited August 25, 2008 by AlexLah

[sriracha john]

The question is, Who ordered the release of the money.

Revenue Department Deputy Director-General Asadang Srisupraphand

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

Meanwhile, the former PM speaks out on the issue... no, not that former PM ... the other one.

Who is the real 'Revenue Department'? : Anand

Anand Panyarachun, Chairman of the Board of Siam Commercial Bank (SCB), said the bank was ready to transfer Bt12 billion of the Shinawatra children's money to the authorities if ordered to do so, but meanwhile he is wondering who the actual Revenue Department is.

"We're ready to follow instructions from the authorities, but two orders currently contradict each other. We need the authorities to tell us exactly what to do," he said.

The Assets Examination Committee (AEC) had ordered a freeze on Bt76 billion belonging to the Shinawatra family, pending charges against ousted prime minister Thaksin Shinawatra for alleged unusual wealth and abuse of power.

In a letter dated last Friday and signed by Revenue Department Deputy Director-General Asadang Srisupraphand, the Department said it would like the bank to transfer Bt12 billion to it in case it wins the tax case against Panthongtae and Pinthongta.

Director-General Sanit Rangnoi was not in Thailand on the day the letter was sent to SCB. He is believed to oppose asking for SCB to unlock the Shinawatras' money.

Some local newspapers have speculated that if Panthongtae and Pinthongta receive a favourable ruling from the Tax Appeal Committee, they can get their money back from the Revenue Department if SCB releases it.

"If you have any problem, you can ask [Director-General Sanit], because right now I also don't know who the real Revenue Department is. You must ask the Director-General of the Revenue Department, not me," Anand told reporters.

Meanwhile, to play it safe SCB will continue to freeze Panthongtae and Pinthongta's deposits. The board met yesterday to consider the legalities of the case and will meet again on Thursday. It has also asked for legal opinions from the National Counter Corruption Commission, the Administrative Court, and the Office of the Attorney-General.

Revenue Department spokesman Satit Rangkasiri was assigned by Sanit to come out and speak. Satit said by asking SCB to release Panthongtae and Pinthongta's frozen assets, it was following tax law.

"If we don't proceed as tax law requires us to, we could be held responsible for failing to do our duty," said Satit.

The Department wants to treat each taxpayer equally, as per its usual practice. If the department did not seek release of the frozen assets, a tax penalty of 1.5 per cent a month would accrue to the two taxpayers, he said.

He said the Department would wait for an answer from SCB before deciding on its next move.

- The Nation / today

[sriracha john]

Thaksin stands to lose a fortune in 'unusual wealth'

Ousted prime minister Thaksin Shinawatra might be exiled in London but he is about to pay a whopping price with his Bt76-billion fortune about to be seized in Bangkok.

Odds are not in Thaksin's favour if he tries to regain wealth deemed by the state to be ill-gotten. In two of three past cases, prime ministers linked to corruption lost their jobs and their assets.

In 1964 the Thanom Kittikachorn government seized about Bt600 million of the Bt2-billion estate of the late prime minister Field Marshal Sarit Thanarat, who had died the year before. Strongman Sarit was hugely popular and ran his administration with an iron fist. But, following a bitter feud over his estate, people were shocked to learn of massive corruption, the proceeds of which financed his hundreds of mistresses. To this day die-hard supporters continue to defend Sarit's plunder, arguing he "just" skimmed foreign aid and did not touch state coffers.

In 1974, Thanom got a taste of his own medicine. In the wake of the October 1973 uprising, the Sanya Dharmasakti government confiscated Bt400 million from Thanom and his cohorts. Thanom and family fought long, unsuccessful legal battles all the way to the Supreme Court.

The seizures employed a sweeping executive power - known as Article 17 - which was sanctioned by the 1959 interim charter. The Sanya government introduced additional legislation on top of this decree to seize Thanom's assets.

The iron-clad provision was revoked upon the introduction of the 1974 Constitution. In 1991, the National Peace-Keeping Council froze the assets of 35 ousted government leaders, including the then prime minister Chatichai Choonhavan.

Following intense lobbying, the council eventually seized assets of 10 politicians worth about Bt1.6 billion. Although it held absolute power, the council enacted a clause permitting judicial appeals. The 10 duly did, and the Supreme Court ruled in their favour, allowing that the charter did not sanction the seizures.

Following the 2006 coup, the Council for Democratic Reform went the extra mile and legalised and gave immunity to the Assets Examination Committee and its procedures. There are foolproof provisions sanctioning anti-graft measures used against Thaksin in the 2006 interim constitution and the 2007 Constitution.

It is evident why Thaksin supporters are relentlessly pushing the amendment of Article 309 of the Constitution, the legal cornerstone targeting Thaksin for his alleged abuse of power.

As long as this remains, Thaksin and his cohorts face an uphill task to clear their names. The legal loophole of the unconstitutionality of coup-leaders actions has been closed to them.

Based on graft allegations, public prosecutors have mounted a sturdy case for the seizure of Thaksin's wealth. The prosecution writ is 124-pages long. The associated evidence required 180 boxes and needed to be transported to the court in a large lorry.

The AEC was mandated by the coup to freeze assets suspected of being ill-gotten. The Supreme Court must decide on confiscation.

The assets frozen total about Bt69 billion. And judging from the writ lodged yesterday, the prosecution will try to seize unaccounted-for funds, too.

Should the court proceed to trial, it may be heard in the absence of Thaksin. It is considered a civil proceeding. Under money-laundering law, the defence bears the burden of proving the assets legitimate.

Although Thaksin's frozen funds are reportedly revenue from the 2006 sale of his family's shares in Shin Corp, his defence may find it difficult to justify the giant leap in his wealth from when he was not prime minister.

- The Nation / today

[Tony Clifton]

There, now both sides have influential persons and invisible hands working against each other.

[sriracha john]

Tick tock, tick tock.....

Court forms bench for Thaksin case

The Supreme Court will rule on whether to seize assets worth about 76 Billion Baht of deposed PM Thaksin Shinawatra. The court's judges yesterday elected nine from among them to form the bench of the Criminal Division for Holders of Political Positions for deciding the case. The plaintiff and the defendant may challenge the list. If neither litigant opposes the makeup of the bench, it will rule on the asset seizure petition filed by Attorney-General Chaikasem Nitisiri on Oct 16 at 10 am.

Continued here:

http://www.bangkokpost.net/030908_News/03Sep2008_news02.php

[sriracha john]

Tick tock, tick tock.....

Court forms bench for Thaksin case

The Supreme Court will rule on whether to seize assets worth about 76 Billion Baht of deposed PM Thaksin Shinawatra. The court's judges yesterday elected nine from among them to form the bench of the Criminal Division for Holders of Political Positions for deciding the case. The plaintiff and the defendant may challenge the list. If neither litigant opposes the makeup of the bench, it will rule on the asset seizure petition filed by Attorney-General Chaikasem Nitisiri on Oct 16 at 10 am.

oops... forgot about this one... but it's going on this afternoon....

Supreme Court reschedules Shinawatra assets seizure case to later today

The Supreme Court's Criminal Division for Holders of Political Positions has rescheduled a hearing on the asset seizure of former Prime Minister Thaksin Shinawatra to 3 PM today from its original scheduling of 10 AM.

The court hearing will decide whether or not to take on the case submitted by the Office of the Attorney-General which seeks to seize assets deemed as irregularly excessive and obtained through the abuse of authority. The seizure, if undergone will confiscate 77 Billion Baht, plus interest, from the deposed PM and turn it over to public use.

The case was submitted by the OAG on August 25th. It was comprised of 180 files divided into 54 boxes and also indicates involvement from members of the Shinawatra family.

- ThaiNews / 2008-10-16

[sriracha john]

The Supreme Court has accepted the asset seizures case.

- TOC

[sriracha john]

Supreme Court to proceed with assets seizure case against Thaksin

The Supreme Court's Criminal Division for Holders of Political Office agreed Thursday to launch a judicial review in the case in which former prime minister Thaksin Shinawatra was suspected of having dishonestly amassed 76 Billion Baht worth of assets.

Public prosecutors asked the court to seize the assets on ground that the former prime minister had abused his authority as the prime minister to amass the wealth.

The court scheduled December 25 for Thaksin and those, who appear to be owners of the frozen assets, to appear in court to be informed of trial schedule.

Thaksin and those, who appear to be owners of the assets, are required to submit their opposition to the court within 30 days.

- The Nation / 2008-10-16

[sriracha john]

Supreme Court Accepts Asset Seizure Case against Thaksin

The Supreme Court this afternoon decided to accept a lawsuit to seize 76 billioin baht from former premier Thaksin Shinawtra for being 'unusually wealthy'.

In August, the Office of the Attorney-General has filed a lawsuit to seize 76 billion baht from Thaksin Shinawatra. The office concluded that the former premier is unusually rich due to his abuse of power. The case was originally under the responsiblity of the now defunct Assets Examination Committee (AEC).

The public prosecutors will try to prove that Thaksin abused his power to gain massive wealth during his tenure as prime minister between 2001 and 2006.

During that time, Thaksin was accused of policy corruption to benefit the business interests of his family and close associates.

The first court hearing is scheduled for December 25th, 2008. *Merry Christmas, Thakky*

- TOC / 2008-10-16

[Artisi]

Supreme Court Accepts Asset Seizure Case against Thaksin

The first court hearing is scheduled for December 25th, 2008. *Merry Christmas, Thakky*

- TOC / 2008-10-16

And enjoy boxing day as well

[Samuian]

Supreme Court Accepts Asset Seizure Case against Thaksin

The first court hearing is scheduled for December 25th, 2008. *Merry Christmas, Thakky*

- TOC / 2008-10-16

And enjoy boxing day as well

Think he may need some Seltzer and some downers right now, later put on Prozac!

Well, wonder what is going to happen next?

Will there be a bomb blast...?

Wonder what he got up his sleeve, was it in Anands hint "he is a smart men"?

With six arrest titles I wonder if he will dare to challenge the charges!

[marshbags]

Supreme Court Accepts Asset Seizure Case against Thaksin

The first court hearing is scheduled for December 25th, 2008. *Merry Christmas, Thakky*

- TOC / 2008-10-16

And enjoy boxing day as well

Think he may need some Seltzer and some downers right now, later put on Prozac!

Well, wonder what is going to happen next?

Will there be a bomb blast...?

Wonder what he got up his sleeve, was it in Anands hint "he is a smart men"?

With six arrest titles I wonder if he will dare to challenge the charges!

If the verdict that is due on the 21st is found against him then he would be facing immediate arrest and a stiff jail sentence without even having to consider the ongoing growing list of arrest warrants.

Should he do a Hudini equivalent on the verdict that should be handed down, then at least one of the court appearances re his delayed appointments with the supreme court should / would surely find him guilty as he will be charged with no chance of appeal.

IMHO i reckon it is a forgone conclusion, and Thaksin will already know this, hence his ongoing attempts to change the new found courage of the citizens of Thailand, along with the judicary and it,s institutions to see justice done and be seen to be done, by law, and accordingly.

Then bring on the rest of his ilk, they can pull a cracker of the harmless type, together and celebrate their new found status and down grading of their celebrated priviledge..........loss of that is, on the outside, at any rate.

" Oh come all ye faithful " saddened and incarcerated..............

While on the outside................................

marshbags

Edited October 16, 2008 by marshbags

[basjke]

Supreme Court Accepts Asset Seizure Case against Thaksin

The Supreme Court this afternoon decided to accept a lawsuit to seize 76 billioin baht from former premier Thaksin Shinawtra for being 'unusually wealthy'.

In August, the Office of the Attorney-General has filed a lawsuit to seize 76 billion baht from Thaksin Shinawatra. The office concluded that the former premier is unusually rich due to his abuse of power. The case was originally under the responsiblity of the now defunct Assets Examination Committee (AEC).

The public prosecutors will try to prove that Thaksin abused his power to gain massive wealth during his tenure as prime minister between 2001 and 2006.

During that time, Thaksin was accused of policy corruption to benefit the business interests of his family and close associates.

The first court hearing is scheduled for December 25th, 2008. *Merry Christmas, Thakky*

- TOC / 2008-10-16

What actually happened to the 13 billion baht that would be given back to Taksin's children.Got it blocked or did they recieve it?

[animatic]

Still blocked last I heard.

That was just a alwyer trying another move.

Didn't take.

They are NOT letting the pile free, until it is SURE that NONE of that money was ill gotten.

And that means till AFTER adjudication of ALL pressing malfeasence charges from his time in office.

THE USA or most Euro countries would likely do it the same way too.

[sriracha john]

Thai court to proceed to trial in assets seizure case against Thaksin

BANGKOK, Oct 16 (TNA) - Thailand's Supreme Court Criminal Division for Holders of Political Positions on Thursday agreed to begin the judicial review of ousted, fugitive former prime minister Thaksin Shinawatra for having allegedly amassed 76 Billion Baht worth of assets, now frozen by the state.

The Court's nine judges accepted the petition of the Office of the Attorney-General which had requested it to issue an injunction to seize assets of Bt76 billion for the country.

After accepting the case for hearing, the Court ordered sending charges to the defendant as well as publishing the order in newspapers for three days.

December 25 was set as the court date for Thaksin and those appearing as owner of the frozen assets to appear in court. The accused may appeal within 30 days of Thursday's court order.

76 Billion Baht in Thai bank accounts were frozen during investigations into Thaksin's wealth after Sept 19, 2006 coup which toppled the former premier on charges of corruption, dividing the nation and undermining democracy and the monarchy.

Thaksin and his wife Pojaman fled to Britain after attending the opening ceremony of the Olympic Games in Beijing in early August. They have applied for political asylum in the UK.

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

"the court date for Thaksin and those appearing as owner of the frozen assets to appear in court"

"those" include Potjaman, her brother Bannapot, her sister-in-law Bussaba, and her children, ALL of whom have fled to the UK.

[sriracha john]

Just to reiterate... unlike the recent Thaksin telecom corruption case filed yesterday and a few of the other cases, but NOT the land case, which are essentially on hold due to Thaksin's absence, this is a civil suit which doesn't require his presence to be finalized. The land case is the unique exception in Thaksin's multiple cases in that he made the requisite initial appearance and thus it can be concluded... and soon it will be.

The below news report confirms about the assets seizure case:

Seksan Bangsombun, Director-General of the Attorney-General's Special Litigation Department, said that as a civil suit the case, which is scheduled to start on December 25, would go ahead regardless of whether Thaksin showed up in court or not.

- DPA / 2008-10-16

[AlKing]

If any government would want to seize Thaksin wealth TO OFFSET the people's personal tax payment; you have my vote.

If any government want to size the wealth and keep it in government pocket; forget it. I don't have anything to gain?

[marshbags]

If any government would want to seize Thaksin wealth TO OFFSET the people's personal tax payment; you have my vote.

If any government want to size the wealth and keep it in government pocket; forget it. I don't have anything to gain?

The present government are of course the guardians of the wealthy pocket of their sponsor Thaksin AKA, CEO in exile.

They would no doubt be on a nice little earner should the latter ever take place.

marshbags

[Tony Clifton]

May he suddenly lose 70% of his fortune now just as his fortune suddenly increased by 70% one year while he was PM.

As for his freedom, he should lose 100% of it. That should prevent him from touching any of the remaining 30%.

[sriracha john]

Speaking of frozen assets, is it snowing yet where you're at, Tony?

[plachon]

I'm just waiting for the day when I get an email from one of the Toxin siblings or spawn along the lines of the Nigerian scam mailings. Something like:

"My dear father wanted to provide for his children's education, and left a sum of money in the order of $99 million sitting in a bank account, that the evil military junta government could not freeze. They know nothing about this account and with your kind help I intend to get it out the country and use it for the purpose for which it was intended. By channeling it through your bank account, the government authorities will be none the wiser. There is no risk involved on your part and for your assistance, I propose to offer you a sum equivalent to 20 % of the total.

If you are willing to assist a poor, young lady living in London with servants to abuse, I mean amuse, and daily Harrods bills to pay, then I am sure it will be a mutually fruitful relationship. I might even invite you round to a champagne soiree one day as a way to say "thank you".

Please reply positively as soon as possible to the email address below............."

Pintongtha and co are trustworthy kids who would never pull a fast one surely?

[sriracha john]

Pintongtha and co are trustworthy kids who would never pull a fast one surely?

You'll need to transcribe your proposed email onto a "cheat sheet" and give it to him. That's the extent of his intellectual functioning.