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

[chinthee]

lol ... BakerBotts and the law ......

If my assetts were frozen due to corruption I would want a lawfirm like them! AND a good spin doctor!

i think the point is that the assets were frozen for alleged corruption.

as the Asia Sentinel article so clearly points out, after 9 months and a total lack of anything solid to go by, they are pushing for "policy corruption", which is not only a shaky concept, but is also complicated by all sorts of double standards which are difficult to isolate.

in the end, they have failed to prove what they have so confidently claimed as the prime reason for the coup. now they are clutching at straws.

it appears in today's news that the AEC was informed all along of the whereabouts of the alleged "missing" 28 billion baht which apparently prompted them to order the freeze in the first place.

this is just greed pretending to be justice.

LOL

No I think you will find that courts issue orders to freeze funds BEFORE trials on a frequent basis! They will prove it or fail to prove it in court.

I think they will prove much but not all of what they have so far against him.

A few days ago I posted a link to how far worse than has been done to T can be done in the EU. It would be foolish to suggest that "freezing" an account before a trial was some unique or particularly severe action. Even the freezing of accounts of those not directly linked to the case would be legal without evidence or a court order in th EU. What the AEC have done may be offensive to libertarians but to argue it is unusual or something that would only happen in Thailand is just plain wrong. The Thai authorities have acted within the norm of international law on this one unless of course one wants to argue that the EU are a set of rogue states.

I agree with you, and furthermore, wait until they try to enforce the freezes extraterritorially. They'll have their hands full jumping through legal hoops.

[A_Traveller]

File under ignore the man behind the curtain?

Regards

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LONDON (Thomson Financial) - Thailand's ousted prime minister Thaksin Shinawatra said he was still in talks with Manchester City for a possible bid for the Premiership football club, adding further updates will be made in due course.

Reacting to recent comments made by his lawyer Noppadom Pattama, Shinawatra said Pattama was not authorised to make comments on his behalf and issued an appeal to disregard his comments on the potential Manchester City acquisition.

Earlier today, Bangkok-based Pattama was quoted as saying 'Dr Thaksin has the money to buy Manchester City and the signs from the club in the latest negotiations are good'.

Pattama also reportedly said 'Dr Thaksin may need to use some of the money that has been frozen [by the Assets Examination Committee]' and 'If Dr Thaksin can't buy Manchester City the AEC will be to blame.'

The Assets Examination Committee, a Thai anti-graft panel up by the Thai military junta, froze the assets held by Thaksin Shinawatra and his wife, which could total well over a 1 bln usd, on June 11.

[email protected]

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

[hammered]

File under ignore the man behind the curtain?

Regards

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

LONDON (Thomson Financial) - Thailand's ousted prime minister Thaksin Shinawatra said he was still in talks with Manchester City for a possible bid for the Premiership football club, adding further updates will be made in due course.

Reacting to recent comments made by his lawyer Noppadom Pattama, Shinawatra said Pattama was not authorised to make comments on his behalf and issued an appeal to disregard his comments on the potential Manchester City acquisition.

Earlier today, Bangkok-based Pattama was quoted as saying 'Dr Thaksin has the money to buy Manchester City and the signs from the club in the latest negotiations are good'.

Pattama also reportedly said 'Dr Thaksin may need to use some of the money that has been frozen [by the Assets Examination Committee]' and 'If Dr Thaksin can't buy Manchester City the AEC will be to blame.'

The Assets Examination Committee, a Thai anti-graft panel up by the Thai military junta, froze the assets held by Thaksin Shinawatra and his wife, which could total well over a 1 bln usd, on June 11.

[email protected]

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

Oh no Big Suit man gets a vote of no confidence from Master. I quite enjoyed his little asides too. I hope this isnt the end of him. He was one of the few human faces in the T-team.

[Jai Dee]

Thaksin's 'missing billions' still in Thailand: legal advisor

Thailand's ousted prime minister Thaksin Shinawatra did not move Bt8 billion from bank accounts out of the country, but the funds were invested on various projects, according to his legal advisor.

Another Bt20 billion which was reported missing by the Assets Examination Committee from the Shin Corp sale amounting Bt73.3 billion to Singapore's Temasek Holdings was also still in Thailand, Noppadol Pattama said.

"What the AEC had said without checking with the Bank of Thailand first was aimed at discrediting the former prime minister," he contended.

The AEC on Monday ordered the freeze on all bank accounts held by Mr. Thaksin and his wife after gathering sufficient evidence to believe that the deposed premier had committed malfeasance to become unusually wealthy.

Thaksin's legal advisor Thursday demanded that the AEC withdraw the freeze order and return more than Bt46 billion to the couple because the money was earned before Mr. Thaksin became the prime minister.

Mr. Noppadol told a press conference that in February 2001, before Mr. Thaksin became prime minister, his shares in Shin Corp were worth Bt31.242 billion while his assets, as already reported to the National Counter Corruption Commission (NCCC), totaled Bt15.294 billion.

Mr. Thaksin's total assets at that time before becoming prime minister stood at Bt46.536 billion and this could be checked with the NCCC, said Mr. Noppadol. The stocks were transferred to his children just before Mr. Thaksin took up the prime ministership.

In making the ruling on the freezing of the assets, the AEC did not separate which assets the deposed prime minister earned before or after accepting the post, said Mr. Noppadol, adding that he would file charges against the AEC in both the civil and criminal courts early next week at the latest and would demand the AEC to withdraw the order by releasing cash and assets worth Bt46.536 billion immediately.

Source: TNA - 15 June 2007

[Jai Dee]

SET will cooperate to locate ousted PM's 'missing' funds

The Stock Exchange of Thailand is ready to cooperate in tracing ‘’missing” funds of ousted Prime Minister Thaksin Shinawatra ordered frozen recently by the Asset Examination Committee, according to SET president Patareeya Benjapolchai.

Funds amounting to Bt2.82 billion, a part of the proceeds received by the deposed premier's family from the sale of Shin Corp shares to Singapore's Temasek Holdings early last year were withdrawn from bank accounts of Mr. Thaksin and his family before AEC ordered the assets frozen on Tuesday.

Mrs. Patareeya said if AEC formally request SET to trace the missing amount, it was ready to cooperate and instruct local brokerage houses to examine share transactions in portfolio accounts of the Shinawatra family.

However, SET had not yet received a letter from the AEC.

The SET chief also called on investors to make investment decision at their own discretion since rumours, including a possible counter coup and imposition of curfew in the city, swirled in the market on Wednesday.

Bank of Thailand Governor Tarisa Watanagase said the central bank had already sent its officials to join the AEC’s subcommittee tasked to go after the missing funds. So, it is unnecessary to wait for the AEC’s written request.

The central bank on Wednesday reported another 8.2 billion baht had been withdrawn from bank accounts of Mr. Thaksin and his family shortly before AEC ordered their assets frozen.

Earlier, more than 20 billion baht had been found withdrawn from the banks accounts. The amount is part of 73.3 billion baht gained from the deposed premier’s and his family’s sale of a 49 per cent stake of Shin Corp to Temasek Holdings in January last year.

Source: TNA - 15 June 2007

[Bill97]

Interesting that now people, including Taksin's lawyer, are talking about the money as belonging to Taksin eventhough it is in or from other people's accounts. Taksin denied ownership but is now claiming ownership. Still likes to have it both ways but unlikely to get away with it since he no longer controls the strings. The lawyer wants 46 billion released, well add that to what is already withdrawn and you have almost all of it!

Edited June 15, 2007 by Bill97

[chinthee]

Interesting that now people, including Taksin's lawyer, are talking about the money as belonging to Taksin eventhough it is in or from other people's accounts. Taksin denied ownership but is now claiming ownership. Still likes to have it both ways but unlikely to get away with it since he no longer controls the strings. The lawyer wants 46 billion released, well add that to what is already withdrawn and you have almost all of it!

That's the interesting thing about fraudulent transfers. They usually come back to bite you in the azz.

[sriracha john]

Thaksin slams junta over 'victimisation'

Recorded speech by former PM broadcast to 10,000-strong rally last night

In an "electronic war" against the junta, former premier Thaksin Shinawa-tra told a large crowd of his supporters last night that he had become a victim of political persecution aimed at destroying his power base.

Thaksin, in an apparently pre-recorded speech, said he had not received fair treatment in the investigation of the corruption charges against him that led to the freeze on his family's bank accounts.

The ex-PM said he would return to Thailand to fight the charges and "protect his dignity" but not to re-enter politics.

"I wouldn't mind if it was just me they were persecuting, but my wife and children have also become victims, which I didn't expect to happen," Thaksin said.

* That doesn't show much foresight on his part. Did he really expect to use them as shields and then not expect them to be investigated?? *

He urged all sides to reconcile in respect for His Majesty the King's 80th birthday this December, but he fell short of calling for an end to the frequent protests by his supporters. Thaksin said he would like to see the next general election held as soon as possible.

The speech, which began about 9pm, lasted 28 minutes.

Organisers of the rally said earlier that Thaksin would speak live from London through a videoconferencing system or the Internet, but they also said that a plan B, a pre-recorded speech, had been prepared in case of a block by the authorities.

Reporters at the scene believed that Thaksin's statement was pre-recorded as there were no questions and answers between Thaksin and his supporters and the ex-PM did not react to the sound of cheers and applause from the participants in the protest.

Thaksin appeared to be in good spirits, smiling and calm as he delivered his statement. Six large screens were set up at Sanam Luang to display the broadcast.

More than 10,000 people gathered to hear what Thaksin had to say to his supporters. It was the largest number of participants to date for any pro-Thaksin rally.

More than 200 police officers were dispatched to the public ground to keep order.

Police searched the participants before allowing them onto the protest site, as in previous rallies organised by the banned PTV, which has changed its name to the Democratic Alliance against Dictatorship.

Organisers of last night's rally dubbed the manoeuvring behind Thaksin's speech "an electronics war" against the junta.

Jatuporn Phromphan, a spokesman for the rally organisers, said there had been attempts by the authorities to block the broadcast of the speech.

The live-broadcast service of the PTV website ptvthai.com could not be accessed before or during the speech. Access to several pro-Thaksin websites was blocked by the ministry.

*not true... The big, fat, square-head shows up on that site without any difficulty at all.*

Censorship has just been relaxed after a Constitution Tribunal ruling last month that ordered the Thai Rak Thai Party to be disbanded. It was the political party that Thaksin co-founded and led to victory in three general elections.

Natthawut Saikua, another protest leader, said that video CDs of Thaksin's speech would be distributed to all participants at today's anti-junta rally.

*gosh... can I have one for a cocktail coaster? At least, then, it would have a function.*

Authorities yesterday were on alert for signs of possible violence last night or today, when the protesters plan a march from Sanam Luang to Army headquarters.

Prime Minister Surayud Chulanont said after a high-level security meeting yesterday morning that a state of emergency was among the government's contingency plans if there proved to be no other course.

The military yesterday suggested that government officials working in public agencies along Rajadamnoen Avenue not stay on at their offices after work and avoid working there this weekend.

- The Nation

[sriracha john]

BVI link in new Thaksin spending

Three of seven companies in which the Shinawatra and Damapong families recently invested Bt16.4 billion are linked to British Virgin Islands-registered Win Mark, according to deputy Democrat Party secretary-general Korn Chatikavanij.

Chief counsel for Thaksin Shinawatra, Noppadon Patta-ma, said on Thursday Panthong-tae and Pinthongta Shinawatra had diverted Bt6 billion of the proceeds from the sale of Shin Corp shares to PT Corporation, Worth Supplies, Pramaisuree Property and SC Office Plaza.

Bhanapot Damapong invested Bt10.4 billion in OAI Management, BBD Develop-ment, BBD Property and SC Office Plaza.

The amounts are part of the Bt73.3 billion both families received from the sale of Shin Corp to a group of investors led by Temasek Holdings.

"I'd like to know if these companies actually issued new shares to Pinthongta. Personally I don't believe they did. Noppadon should show the documents involved," he said.

Democrat findings showed Thaksin had founded Win Mark and later sold shares to Pinthongta in 2004, despite his statement that companies establishing domicile in the tax haven betrayed their nations.

The three linked companies are SC Office Park, Worth Supplies and PT Corporation. In 2000, Thaksin was alleged to have sold his shares in the three companies to Win Mark, which coincidentally has the same address as Ample Rich Investments.

Noting that the business activities of these companies had been frozen for some time, Korn said both families could have wanted to move money through the recent transactions.

Assets Examination Committee (AEC) member Sak Korsaengruang said in an interview with Channel 11 that the committee had decided to freeze 21 bank accounts in the belief Thaksin had abused his power while prime minister in order to boost his family's business and that all this money belonged to him.

"When the assets were frozen, he said he would have no money to buy a football club. But then he said he would use his children's money. This shows the money belongs to the same person," he said.

Meanwhile, Bank of Thailand Governor Tarisa Watanagase said yesterday the bank could not permit Thaksin to buy Manchester City Football Club with money from the frozen accounts.

If he uses funds from other sources the central bank will consider approval.

"Thaksin has never asked for central-bank permission for the purchase," she said.

The AEC asked the Bank of Thailand to trace all transactions in the 21 accounts, locally and overseas. A central-bank official who asked not to be named said this would be "troublesome". Singapore is strict about revealing customer transactions.

The seven companies were linked to both the Shinawatra and Damapong families. Before Thaksin entered politics, his wife Pojaman allegedly transferred shares in Shin Corp to her maid. Private secretary Kanchanapa Honghern allegedly helped.

Kanchanapa is one of two authorised directors of five of the seven companies. The other is Chanont Suvasin, an official of the dissolved Thai Rak Thai Party, according to data from the Business Development Department and Business Online.

Bhanapot and his wife Busaba control the other two companies.

- The Nation

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

More scamming and shifty then a 3-card Monte dealer......

[sriracha john]

'No payments' made for shares

There have been no actual payments made for Shin Corp shares by deposed PM Thaksin and his family during the past seven years, Assets Scrutiny Committee (ASC) spokesman Sak Korsaengruang said yesterday. Mr Sak said the ASC ordered the freezing of more than 52 billion baht in assets held by Shinawatra and Damapong family members after its panel found evidence that Mr Thaksin's abuse of power had included this kind of share transaction. ''We did not find any money actually paid in share transactions by family members,'' he said, adding the shares were paid for with promissory notes without expiry dates and no interest specified. His remarks implied the former premier could have violated anti-corruption laws which bar politicians from holding shares in businesses granted concessions by the state. Mr Sak said remarks on Thursday by Mr Thaksin's close aide Noppadon Pattama that the deposed prime minister would use his two children's money to buy the English football club Manchester City also meant Mr Thaksin and his children shared the same financial resources.

Continued here:

http://www.bangkokpost.com/News/16Jun2007_news11.php

Edited June 16, 2007 by sriracha john

[John K]

Face value investments, real reason one of a few steps to get the cash out of Thailand. I guess Thaksin will use an off shore company as a recipient, invest the money into some form of capital like football teams and you know the rest......

Edited June 16, 2007 by John K

[Jai Dee]

PM believes Dr. Thaksin will seek ways for negotiation

Prime Minister Surayud Chulanont believes former Prime Minister Thaksin Shinawatra will seek for a negotiation after the Assets Examination Committee (AEC) has ordered to freeze the assets and accounts of himself and his family.

Gen. Surayud says he may receive a negotiation request by Dr. Thaksin. However, the Prime Minister says he does not know the case in advance.

The Prime Minister, however, expresses his willingness to discuss matters with the ex-PM. He says Dr. Thaksin can send his representative to clarify the case within 60 days.

As for the current political situation, Gen. Surayud affirms all political implementations are under its time frame, saying the constitutional public referendum will be held on August 19th. Currently, the Cabinet has already approved the constitution draft. Meanwhile, the election is expected to take place sooner than scheduled.

Source: Thai National News Bureau Public Relations Department - 16 June 2007

[Bill97]

BVI link in new Thaksin spending

Three of seven companies in which the Shinawatra and Damapong families recently invested Bt16.4 billion are linked to British Virgin Islands-registered Win Mark, according to deputy Democrat Party secretary-general Korn Chatikavanij.

Chief counsel for Thaksin Shinawatra, Noppadon Patta-ma, said on Thursday Panthong-tae and Pinthongta Shinawatra had diverted Bt6 billion of the proceeds from the sale of Shin Corp shares to PT Corporation, Worth Supplies, Pramaisuree Property and SC Office Plaza.

Bhanapot Damapong invested Bt10.4 billion in OAI Management, BBD Develop-ment, BBD Property and SC Office Plaza.

The amounts are part of the Bt73.3 billion both families received from the sale of Shin Corp to a group of investors led by Temasek Holdings.

"I'd like to know if these companies actually issued new shares to Pinthongta. Personally I don't believe they did. Noppadon should show the documents involved," he said.

Democrat findings showed Thaksin had founded Win Mark and later sold shares to Pinthongta in 2004, despite his statement that companies establishing domicile in the tax haven betrayed their nations.

The three linked companies are SC Office Park, Worth Supplies and PT Corporation. In 2000, Thaksin was alleged to have sold his shares in the three companies to Win Mark, which coincidentally has the same address as Ample Rich Investments.

Noting that the business activities of these companies had been frozen for some time, Korn said both families could have wanted to move money through the recent transactions.

Assets Examination Committee (AEC) member Sak Korsaengruang said in an interview with Channel 11 that the committee had decided to freeze 21 bank accounts in the belief Thaksin had abused his power while prime minister in order to boost his family's business and that all this money belonged to him.

"When the assets were frozen, he said he would have no money to buy a football club. But then he said he would use his children's money. This shows the money belongs to the same person," he said.

Meanwhile, Bank of Thailand Governor Tarisa Watanagase said yesterday the bank could not permit Thaksin to buy Manchester City Football Club with money from the frozen accounts.

If he uses funds from other sources the central bank will consider approval.

"Thaksin has never asked for central-bank permission for the purchase," she said.

The AEC asked the Bank of Thailand to trace all transactions in the 21 accounts, locally and overseas. A central-bank official who asked not to be named said this would be "troublesome". Singapore is strict about revealing customer transactions.

The seven companies were linked to both the Shinawatra and Damapong families. Before Thaksin entered politics, his wife Pojaman allegedly transferred shares in Shin Corp to her maid. Private secretary Kanchanapa Honghern allegedly helped.

Kanchanapa is one of two authorised directors of five of the seven companies. The other is Chanont Suvasin, an official of the dissolved Thai Rak Thai Party, according to data from the Business Development Department and Business Online.

Bhanapot and his wife Busaba control the other two companies.

- The Nation

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

More scamming and shifty then a 3-card Monte dealer......

How were the investments made? If through the stock market, that much money would have been an easily recognizable blip in those few stocks. Anyone notice it? Stock newly issued by the companies, wouldn't that require a registration filing with the SEC?

Is it that Taksin sold shares of three Thai Companies to the BVI company in 2000 and now those shares are being bought by his family members, effectively moving the money out of Thailand to the BVI? Is that what Korn is pointing out?

Edited June 16, 2007 by Bill97

[Old Man River]

BVI link in new Thaksin spending

How were the investments made? If through the stock market, that much money would have been an easily recognizable blip in those few stocks. Anyone notice it? Stock newly issued by the companies, wouldn't that require a registration filing with the SEC?

Is it that Taksin sold shares of three Thai Companies to the BVI company in 2000 and now those shares are being bought by his family members, effectively moving the money out of Thailand to the BVI? Is that what Korn is pointing out?

The SET and SEC are only involved in transactions relating to listed companies.

There is a paper trail and a money trail. The paper trail is important if it can show that Thaksin has control over the proceeds of the SHIN sale to Temasek as it would indicate that he always had control over SHIN. If, ultimately, the purchase of Man City is attempted by his children with proceeds of the SHIN sale, then it can be surmised that he always had control of SHIN. If that is the case, that would mean he lied to the constitutional court. This has yet to be proven.

The money trail is important because the funds have been frozen pending upcoming court cases and some funds cannot be accounted for. Authorities don't believe any large amounts have left the country recently. However, there is always the possibility that part of the proceeds of the sale were paid offshore. A BOT official has said that if this is the case, this could be difficult to trace as some countries are not as open as others about publicly reporting private transactions.

The purchase of shares in the companies owned by Win Mark would not move money out of Thailand as this only relates to the paper trail. The funds are either in Thailand and have not yet been located or never were in Thailand and this will be hard to trace if the funds were paid in Singapore.

[gdot]

When will people - including news agencies - stop repeating the assertion that Taksin was or is "very popular in the countryside"? That may have applied to parts of the northern countryside (but even there that was often measured merely by votes organised through locally bought village heads), but it certainly didn't and doesn't apply to the country's southern half, where he is generally hated with a passion (and I'm not even talking about the Muslim provinces here).

[John K]

Korn believes Thaksin's Bt20bn remitted abroad

Democrat Party deputy secretary-general Korn Chatikavanij said Sunday he believed that the Bt20 billion missing from the Shinawatras's bank accounts had been taken out of the country.

Korn said he had checked with some commercial banks and found that there are many ways to electronically transfer Bt2 billion out of the country without having to seek permission from the Bank of Thailand if they have business proof to show the bank.

"The central bank has to find out where the Bt20 billion is, said Korn, who was a senior financial-company executive before entering politics.

He said commercial banks had told him that a transfer of no more than US$50 million (about Bt1.75 billion) could be done without permission from the central bank.

Korn also said he was not convinced that the Bt20 billion were used to invest in the companies which belonged to Shinawatra family as claimed by Noppadon Pattama, legal adviser for ex-premier Thaksin Shinawatra. These companies have small registered capital and do not operate any business, he said.

"It is unreasonable because these companies belong to the Shinawatra family. It is a false claim to avoid having Bt20 billion frozen by the AEC. The authorities have to freeze the money in these companies if they really use it to buy the shares or increase capital, Korn said.

Governor of the Bank of Thailand Tarisa Watanagase had earlier said that she believed the Bt20 billion was still in the country because the central had not been asked to approve the transactions, which allow huge amount of money out of the country.

The Assets Examination Committee last week ordered a freeze on bank accounts of Thaksin and his family members worth Bt52.8 billion, citing sufficient evidence in its investigations into corruption allegations against him and the fact that Bt20 billion had been withdrawn from the accounts. The AEC said later that another Bt8 billion was unaccounted for from the bank accounts.

Noppadon later explained that all the Bt23.4 billion, and not Bt28 billion as reportedly by the AEC, had been accounted for. He said that Bt16.4 billion had been used to buy stocks in the real estate firms and the remaining Bt7 billion was deposited in bank accounts of Thaksin's children Panthongtae and Pinthongta.

The Nation

[Jai Dee]

AEC Spokesman confirms no moles in AEC

The Assets Examination Committee (AEC) Spokesman, Mr. Sak Korsaengruang, believes there are no spies within the AEC as Democrat Party Deputy Secretary-Genaral Korn Chatikawanich alleges.

Mr. Korn claims that there could have been a mole within the AEC who may provide the information on the frozen assets to former Prime Minister Thaksin Shinawatra. However, Mr. Sak says the AEC had a meeting on this issue long before the decision was made. He says the meeting was held confidentially and no administrative personnel were allowed to attend this meeting, and therefore, the information could not be leaked.

However, Mr. Sak says the inspection conducted by the financial institutions was quite intensive, and the information could have escaped during this period.

Source: Thai National News Bureau Public Relations Department - 18 June 2007

[hammered]

AEC freezes seven more accounts of Thaksin, wife

The Assets Examination Committee Tuesday ordered the freeze of seven more accounts of former prime minister Thaksin Shinawatra and his wife, Pojaman.

The Nation

http://www.nationmultimedia.com/breakingne...newsid=30037172

[sriracha john]

Another Thaksin 8 Billion Baht frozen

A further eight billion baht in assets owned by deposed prime minister Thaksin Shinawatra and his family has been ordered frozen by the Assets Examination Committee. The money had earlier gone missing from their bank accounts, AEC spokesman Sak Korsaengruang said Monday. In examining local commercial banks, the AEC found the "missing" eight billion baht transferred and redeposited in seven bank accounts, he said. The batch of the Shinawatra family wealth was part of a total of about 50 billion baht earlier deposited in 21 bank accounts which were frozen on the orders of the AEC last week. Furthermore, an amount of 20 billion baht in Shinawatra wealth earlier deposited at the banks which remains missing might have been siphoned off from one account to another as in the case of the 8 billion baht accounts.

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=119530

[Mid]

Noppadon: Freezing Thaksin's assets unlawful

(BangkokPost.com) - The additional freezing of eight billion baht from bank accounts of Shinawatra and Damapong families is not lawful, Shinawatra's legal adviser Noppadon Pattama said Tuesday.

Mr Noppadon claimed that the Assets Scrutiny Committee did not investigate nor prove that the funds in these seven accounts were illegally gained.

The Post Publishing Public Co

[Jai Dee]

Thaksin ordered to appear before Thai

Head of the Department of Special Investigations SUNAI MANOMAI-UDOM (สุนัย มะโนมัยอุดม) made known ousted Prime Minister Thaksin Shinawatra and his spouse Khunying POTJAMAN were both ordered TODAY to appear before police between June 26 and 29 to hear their corruption charges.

Mr. SUNAI added that they both will be charged with making fraudulent filings to the Securities and Exchange Commission over the 2003 listing of a property company owned by his family as well as failing to inform the Stock Exchange of Thailand about later transactions involving SC Asset, which was part of Mr. THAKSIN's Shin Corp telecom empire. He said if they fail to appear, they could be sent to jail.

Meanwhile, a lawyer representing Khunying POTJAMAN met with the Assets Examination Committee (AEC) to put off the testimony of Khunying POTJAMAN regarding the Shin Corp share sale to Ample Rich register under two of her Children to July 19th. The attorney reasoned his client is unwell and currently receives medical treatment at Raffle Hospital in Singapore. This would be the third time she ahs requested a postponement.

AEC Spokesman SAK KORSAENGRUANG (สัก กอแสงเรือง) indicated that AEC allow Khunying POTJAMAN seven days to submit a medical certificate document in order to postpone her testimony for another month.

Source: Thai National News Bureau Public Relations Department - 19 June 2007

[sriracha john]

Good Lord... this SOB has crates of money laying around all over Thailand...

ASC to freeze more Thaksin assets

The Assets Scrutiny Committee met on Wednesday to discuss further freezing of bank accounts held by ousted premier Thaksin Shinawatra and kin. The morning meeting was chaired by Khunying Jaruvan Maintaka. A subcommittee of the ASC responsible for tracing Mr Thaksin's missing funds believed that some of the funds have been transferred to other accounts not ordered frozen. The ASC ordered last Monday that accounts holding more than 52 billion baht belonging to Mr Thaksin, his wife, two grown-up children and two other relatives should be frozen. A week later, they ordered the seven more accounts worth 8.8 billion baht included, saying the accounts were set up for funds withdrawn from the original accounts.

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=119569

[sriracha john]

Thailand plans to freeze more of ousted PM's assets

BANGKOK, Thailand: Thai officials have traced an additional US$620 million (€462 million) in assets of ousted former Prime Minister Thaksin Shinawatra and will freeze them as they investigate his alleged corruption, a government official said Wednesday.

Last week, the Assets Examination Committee froze 52.88 billion baht (US$1.63 billion; €1.22 billion) of Thakisn's money, believed to be proceeds from the sale of his telecommunications company Shin Corp. to Temasek Holdings, a Singapore government investment company in January 2006.

But the government said 20 billion baht (US$620 million, €462 million) was missing from the 74.3 billion baht sale.

"The AEC tracked the money trail and found that more than 20 billion baht was shifted to the accounts of companies instead of to individual accounts. AEC is set to freeze those accounts," Auditor General and AEC member Jaruvan Maintaka told reporters.

The AEC has frozen Thaksin's assets pending his trial on charges of corruption and abuse of power.

On Tuesday police ordered Thaksin to return to Thailand to face charges that he concealed his ownership of millions of dollars worth of shares from the Thai stock exchange. The charges are unrelated to the Shin Corp. sale.

Police said they have strong evidence that Thaksin and his wife Pojamarn secretly held shares through nominee companies in SC Asset Corp. PCL, a Shinawatra family real estate company. He said they must present themselves to police between June 26 and June 29.

The order that he report by June 29 came just a day after state prosecutors said they would seek to have him and his wife tried for a suspicious land deal.

The order gives Thaksin a deadline for returning home for the first time since he was ousted in a bloodless Sep. 19, 2006 while he was in New York. He has divided his time since then between a residence in London and travel around Asia. His wife and other family members continue to live in Thailand, but frequently travel abroad.

- Associated Press

[sriracha john]

AEC freezes seven more bank accounts of deposed PM

Graft busters order freezing of seven more bank accounts, worth totally about Bt5 billion in assets of ousted former prime minister Thaksin Shinawatra on charges of alleged corruption.

The decision on Wednesday made a total of 35 bank accounts of Bt66 billion of Thaksin and associates being frozen. The accounts belong to second child of Thaksin; Pinthongta Shinawatra.

The bank accounts being frozen included those of Thanachart, Bangkok, Krungsri Ayuttaya, Thai Commercial Banks.

The total frozen amounts were Bt4.95 billion.

Last week, the Assets Examination Committee froze Bt52.88 billion believed to be proceeds from the sale of his telecommunications company Shin Corp. to Temasek Holdings, a Singapore government investment company in January 2006.

But the graft busters said Bt20 billion was missing from the Bt73.3 billion sale.

The AEC has frozen Thaksin's assets pending his trial on charges of corruption and abuse of power.

- The Nation

[Jai Dee]

AEC looks to freeze more accounts of Shinawatra family

The Assets Examination Committee (AEC) called a special meeting to decide whether additional assets and accounts of former Prime Minister Thaksin Shinawatra and his family will be seized. The meeting came after transactions still took place in seven frozen accounts.

At 10:00 hours, AEC Chairman Nam Yimyaem presided over this special meeting after the AEC subcommittee chaired by Khunying Jaruvan Maintaka discovered that a sum of money from the seven frozen accounts was transferred to other accounts. The amount of the frozen money from the seven accounts was about 8.8 billion baht. The order was given since June 18th, 2007.

Following the meeting, Mr. Nam said AEC Spokesman Sak Korsaengruang will hold a press conference on this issue this afternoon.

Source: Thai National News Bureau Public Relations Department - 20 June 2007

[Jai Dee]

Attorney-General requests Supreme Court to seize Ratchadaphisek land plot

Deputy Attorney-General Seksan Bangsombun (เศกสรร บางสมบุญ) says the Office of the Attorney-General requests the Supreme Court’s Criminal Division for Persons Holding Political Positions to seize the Ratchadaphisek land plot of 33 rais of the deposed premier and give it to the country.

Me Seksan says he will send the Attorney General’s indictment against the deposed PM Thaksin Shinawatra and his wife Khunying Potjaman Shinawatra to the Supreme Court tomorrow (June, 21th) at 10.00 a.m. According to the Attorney-General, Mr Thaksin and his wife violate articles 100 and 122 of the National Counter Corruption Commission Act and articles 152 and 83 of the criminal code. The Ratchadaphisek land plot is worth 772 million baht.

In the meantime, Secretary-General of the Supreme Court’s Criminal Division for Persons Holding Political Positions, Rakkiat Watthanaphong (รักเกียรติ วัฒนพงษ์) says the Supreme Court is scheduled to call a meeting on June 22nd at 9.30 a.m. to select a panel of judges to consider the case.

Source: Thai National News Bureau Public Relations Department - 20 June 2007

[Mid]

i guess waiting for the courts is unnecessary ..........

[womble]

I for one am quite impressed that the charges have been brought, it may have taken a while, but knwing mr T's connections they Junta would have needed to make sure his cronies were transfered out of there judicial posts before bringing them to trial.

They have waited patiently until they have sufficient evidence which naturally took a long time as Thaksin was so clever and devious at hiding the illegality.

If the election is held early and Thaksin is punished providing the new constitution is acceptable things next year economically could be bright.

Particulary if Abhisit makes it to be PM, he is pro globalisationa nd a modernist.

Trouble is he is young and not seen as being someone without a large enough power base and respect from many thai's simply because of his age.

[sriracha john]

5 Billion Baht more frozen, and 15 Billion Baht to go

The Assets Examination Committee (AEC) suspended six more bank accounts yesterday - with almost Bt5 billion in them - the bulk of it transferred from a Pinthongtha Shinawatra account that held proceeds from the Shin Corp share sale.

AEC spokesman Sak Korsaengruang said the corruption watchdog agreed to freeze six more accounts. Three of them were linked to SC Asset, which the Department of Special Investigation (DSI) has accused deposed premier Thaksin Shinawatra and his wife Pojaman of using to conceal assets.

On Monday, the AEC suspended seven accounts to which more than Bt8 billion was transferred after the Shin Corp share sale. A further 21 accounts with Shin sale money were frozen last week.

Sak said the AEC was keeping a watch on the movement of money in bank accounts held by Panthongtae and Bhanapot Damapong.

He said the AEC would also suspend assets held by former ministers in the Thaksin Cabinet if there was evidence that incriminated them of graft.

Yesterday, six accounts and two cheques were "frozen". All up they were worth Bt4.9 billion.

They include a Thanachart Bank account with Bt13 million; three Bangkok Bank accounts holding Bt2 billion, Bt200 million and Bt430 million, respectively; an Ayudhya Bank account with Bt1.3

billion, a Thanachart Bank cheque for Bt986 million, and a Siam Commercial Bank cheque for Bt27 million.

One of the accounts belongs to the Thaicom Foundation.

Sak defended accusations from Thaksin's lawyer Noppadol Pattama that the AEC had frozen Thaksin's assets "without justice and sympathy".

Sak said the freezing of the assets was done under the grounds that Thaksin was unusually rich.

He said Thaksin still had over Bt7 billion in dividends from six companies under Shin Corp and Ample Rich from 2003-2005. He also received a lot of money from selling companies.

"Doesn't he have enough to use with this money? The AEC has not frozen real estate, bonds or debt instruments - but only accounts involved with the Shin Corp sale,'' he said.

The DSI has issued a summons for Thaksin and Pojaman to hear the charges against them - or face the prospect of having arrest warrants issued.

Last week, the AEC froze Bt52.88 billion believed to be proceeds from the sale of his telecommunications company Shin Corp to Temasek Holdings, a Singapore government investment company in January 2006.

Of the total Bt73 billion Shin Corp share sale, the AEC has yet to freeze Bt15 billion.

The AEC expects to freeze more accounts soon, including an account with Bt4.3 billion in Panthongtae's name, an account with Bt9.7 billion in Bhanapot Damapong's name, and Bt848.7 million in an account held by Yingluck Shinawatra.

- The Nation

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

They got more cash blowing around Thailand than Thailand has plastic bags blowing around.

Edited June 21, 2007 by sriracha john

[marshbags]

5 Billion Baht more frozen, and 15 Billion Baht to go

The Assets Examination Committee (AEC) suspended six more bank accounts yesterday - with almost Bt5 billion in them - the bulk of it transferred from a Pinthongtha Shinawatra account that held proceeds from the Shin Corp share sale.

AEC spokesman Sak Korsaengruang said the corruption watchdog agreed to freeze six more accounts. Three of them were linked to SC Asset, which the Department of Special Investigation (DSI) has accused deposed premier Thaksin Shinawatra and his wife Pojaman of using to conceal assets.

On Monday, the AEC suspended seven accounts to which more than Bt8 billion was transferred after the Shin Corp share sale. A further 21 accounts with Shin sale money were frozen last week.

Sak said the AEC was keeping a watch on the movement of money in bank accounts held by Panthongtae and Bhanapot Damapong.

He said the AEC would also suspend assets held by former ministers in the Thaksin Cabinet if there was evidence that incriminated them of graft.

Yesterday, six accounts and two cheques were "frozen". All up they were worth Bt4.9 billion.

They include a Thanachart Bank account with Bt13 million; three Bangkok Bank accounts holding Bt2 billion, Bt200 million and Bt430 million, respectively; an Ayudhya Bank account with Bt1.3

billion, a Thanachart Bank cheque for Bt986 million, and a Siam Commercial Bank cheque for Bt27 million.

One of the accounts belongs to the Thaicom Foundation.

Sak defended accusations from Thaksin's lawyer Noppadol Pattama that the AEC had frozen Thaksin's assets "without justice and sympathy".

Sak said the freezing of the assets was done under the grounds that Thaksin was unusually rich.

He said Thaksin still had over Bt7 billion in dividends from six companies under Shin Corp and Ample Rich from 2003-2005. He also received a lot of money from selling companies.

"Doesn't he have enough to use with this money? The AEC has not frozen real estate, bonds or debt instruments - but only accounts involved with the Shin Corp sale,'' he said.

The DSI has issued a summons for Thaksin and Pojaman to hear the charges against them - or face the prospect of having arrest warrants issued.

Last week, the AEC froze Bt52.88 billion believed to be proceeds from the sale of his telecommunications company Shin Corp to Temasek Holdings, a Singapore government investment company in January 2006.

Of the total Bt73 billion Shin Corp share sale, the AEC has yet to freeze Bt15 billion.

The AEC expects to freeze more accounts soon, including an account with Bt4.3 billion in Panthongtae's name, an account with Bt9.7 billion in Bhanapot Damapong's name, and Bt848.7 million in an account held by Yingluck Shinawatra.

- The Nation

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

They got more cash blowing around Thailand than Thailand has plastic bags blowing around.

Hiya S.J. and fellow T,Visa members,

Now back in the land of ?????? and reunited with my Thai family again.

The following is basically a report about the alleged Man city take over but it makes interesting reading between the lines on shooting ones self in the assets situation.

Taken from todays Telegraph in the U.K.

Ref. Url

http://www.telegraph.co.uk/sport/main.jhtm...1/sfnman121.xml

City takeover moves closer

By David Bond

Last Updated: 2:22am BST 21/06/2007

Thaksin Shinawatra was last night on the verge of completing his £100 million takeover of Manchester City after the club's main shareholders agreed to sell out to the former Thai Prime Minister.

In an extraordinary turnaround from last week when the deal looked to be dead in the water, Shinawatra is believed to have secured more than 60 per cent of the club from chairman John Wardle and other major shareholders.

The deal comes despite fresh attempts by the Thai government to seize the billionaire's assets. Yesterday, Thailand's Assets Examination Committee announced they had frozen an additional £310 million of the businessman's wealth held there.

The deal comes despite fresh attempts by the Thai government to seize the billionaire's assets. Yesterday, Thailand's Assets Examination Committee announced they had frozen an additional £310 million of the businessman's wealth held there.

Although he has now been denied access to £1.1 billion pending the outcome of investigations into allegations of fraud and corruption during his time in office, Shinawatra is understood to have convinced City's major shareholders that he has sufficient funds in England to complete the deal.

His financial advisers, Seymour Pierce, have maintained throughout the turbulent negotiations that Shinawatra, who was ousted in a bloodless coup last September, always had the money to buy the club.

In addition to freezing his assets, police have also ordered Shinawatra to return to Thailand to face charges that he concealed his ownership of millions of pounds worth of shares from the Thai stock exchange. Shainwatra's advisers say the charges are politically motivated.

Shinawatra will try to lure the former England manager Sven-Goran Eriksson to take over from Stuart Pearce, who was sacked at the end of the season.

But the protracted saga took another twist yesterday when Eriksson's agent, Athole Still, vehemently denied the former England manager had been approached by the club's prospective owner to take charge at the City of Manchester Stadium.

Still said: "There has not been any kind of meeting or contact between Sven-Goran Eriksson, myself or anyone purporting to represent us with either Thaksin Shinawatra himself or any of his representatives, or anyone purporting to be.

"It's just nonsense and I haven't the vaguest idea where these stories come from - but I can tell you categorically it is absolutely untrue. There has been no contact whatsoever and to say there have been meetings is rubbish. I don't believe it's coming from Manchester City, it's certainly not coming from us and I can't see why it would be coming from Shinawatra."

Eriksson's candidacy is believed to have split the current and prospective owners with the current City board favouring a move for Sevilla's Juande Ramos or Blackburn Rovers manager Mark Hughes. Still, though, pressed the claims of his client who is anxious to return to club management.

"He is a top class international coach who has done it for clubs in three different countries - and I'm sure he could do it with Manchester City," Still added. "He'd be interested in a club like them but at the moment nothing is happening - that's the absolute truth."

Surely Man. City and more importantly THE FOOTBALL POWERS THAT BEe value their creditability and reputations more than all the shit connected to that is flying about regarding the MARK 11 Marcos and his family ????????? AND SEEMINGLY IGNORING IT ALL......

W.T.F. is going on with these people ?????

Busy settling in just now and sorting my personals out but hope to add comment on several topics later that are dear to my heart.

Looks like all our initial predictions are coming home to roost big time for the CEO and his associates and with all the evidence to back it all up.

There is lots more to come IMHO and i cannot wait for further disclosure

marshbags

P.S.

Read your latest post on the EJK,s and found the article a very good one, thanks for posting it and keeping the thread in the limelight.

Edited June 21, 2007 by marshbags