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

[hammered]

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.

The Junta would prefer another candidate to Abhisit. He will find it hard to become PM. The meme that he is too young will be used. Then the meme that he is not Thai will be used. Etc. There will be an attempt to cobble together an alliance of ex-TRT defectors to bring in an alternative PM. People like Chavalit, Banharn would be a very unwelcome return to the old days. Running another new contender against Abhisit on an even playing field would be the best Thailand could hope for, and hopefully the winner would not be beholden to an arcane alliance of meglomaniacal self serving MPs. We will see.

[sriracha john]

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

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

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.

Good to have you back, marshbags... Looks like you got back in time to watch the festivities.

btw, there's a thread specifically on the Manchester take over or not take over as the case may be...

Thaksin Looking To Buy Manchester City For 6 Billion Baht, ....the football club, that is, not the whole city

*edit* by the by... you didn't happen to see Thaksin rummaging through any trash bins while you were in the UK, did you?

Edited June 21, 2007 by sriracha john

[sriracha john]

Just two billionaires hanging out...

Thaksin Shinawatra speaks with supporters as his son Pantongtae looks on in April 2006. Thailand's anti-graft panel said Wednesday it has frozen six more bank accounts linked to ousted premier Thaksin Shinawatra's family but is still trying trace funds worth millions of dollars.

AFP

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

"Can I have a couple more million Shin stock shares, Dad? I want to get a different haircut."

[hammered]

Just two billionaires hanging out...

Thaksin Shinawatra speaks with supporters as his son Pantongtae looks on in April 2006. Thailand's anti-graft panel said Wednesday it has frozen six more bank accounts linked to ousted premier Thaksin Shinawatra's family but is still trying trace funds worth millions of dollars.

AFP

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

"Can I have a couple more million Shin stock shares, Dad? I want to get a different haircut."

I wonder as a father how Mr. Thaksin feels about having dragged his own kids into his own questionable business affairs which at the very least border on legality. I know if I personally thought something was risky or possibly legally questionable I certainly wouldnt have dragged my kids into it. Few seem to want to look at or disucss this more personal and possibly tragic angle.

[Old Man River]

The Junta would prefer another candidate to Abhisit. He will find it hard to become PM. The meme that he is too young will be used. Then the meme that he is not Thai will be used. Etc. There will be an attempt to cobble together an alliance of ex-TRT defectors to bring in an alternative PM. People like Chavalit, Banharn would be a very unwelcome return to the old days. Running another new contender against Abhisit on an even playing field would be the best Thailand could hope for, and hopefully the winner would not be beholden to an arcane alliance of meglomaniacal self serving MPs. We will see.

Ask a Thai if it isn't going to be Abhisit then who is it going to be and you will get a multitude of different answers. While I very much would like to see Abhisit as the next PM, I get the feeling that people want a coalition that would bring back stability (Thai style).

If the military selects the next PM and he is ex-TRT, it will be Somkid hands down. However, if the people select the coalition who provides the next PM, then I am thinking they will want someone with prior PM experience. While Abhisit brings integrity and ethics to the table, he is not time tested. This is why I fear that the next PM will be a behind the scenes power broker like Chavilit or Banharn, and of these two I am guessing Banharn.

[Siripon]

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.

The Junta would prefer another candidate to Abhisit. He will find it hard to become PM. The meme that he is too young will be used. Then the meme that he is not Thai will be used. Etc. There will be an attempt to cobble together an alliance of ex-TRT defectors to bring in an alternative PM. People like Chavalit, Banharn would be a very unwelcome return to the old days. Running another new contender against Abhisit on an even playing field would be the best Thailand could hope for, and hopefully the winner would not be beholden to an arcane alliance of meglomaniacal self serving MPs. We will see.

What do you mean Abhisit is not Thai?

I think the old guard such as Banharn, Chavalit, Saran, Sanoh know their days have passed, they're more looking to play the role of kingmakers, watch out for any high- fliers joining their parties as shoe-ins. Remember the next PM must come from the MPs.

In addition the reformed TRT under another name could contain some heavy- weights.

[A_Traveller]

What do you mean Abhisit is not Thai?

The approach is to play up the points that he was born in the UK and much of his education was outside Thailand {Eaton & Oxford}. However, many Thai's I've spoken to see that as a positive, so such a play may well back fire.

Regards

[Old Man River]

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.

The Junta would prefer another candidate to Abhisit. He will find it hard to become PM. The meme that he is too young will be used. Then the meme that he is not Thai will be used. Etc. There will be an attempt to cobble together an alliance of ex-TRT defectors to bring in an alternative PM. People like Chavalit, Banharn would be a very unwelcome return to the old days. Running another new contender against Abhisit on an even playing field would be the best Thailand could hope for, and hopefully the winner would not be beholden to an arcane alliance of meglomaniacal self serving MPs. We will see.

What do you mean Abhisit is not Thai?

I think the old guard such as Banharn, Chavalit, Saran, Sanoh know their days have passed, they're more looking to play the role of kingmakers, watch out for any high- fliers joining their parties as shoe-ins. Remember the next PM must come from the MPs.

In addition the reformed TRT under another name could contain some heavy- weights.

Ok, you have said who you think it is not. If it isn't Abhisit (for arguments sake) and it isn't ex-TRT, then who do you think will be named the next PM?

[sriracha john]

Thaksin vows to sue Bangkok over frozen assets

Deposed Thai Prime Minister Thaksin Shinawatra plans to sue the military government for the return of the $1.8 billion (900 million pounds) of assets frozen by anti-graft investigators, the Financial Times said on Friday.

"It's my money; my family money," he told the newspaper in an interview in London. "They have no right to take it. We will sue them anyway. We have to sue, otherwise we cannot get our money back."

Thaksin, who was ousted in a September coup by generals accusing him of running a corrupt government, said he had retired from politics and would return to Bangkok as a private citizen, "but not now".

Thai state prosecutors on Thursday formally charged Thaksin with "official misconduct" relating to his wife's purchase of a prime piece of Bangkok real estate.

The move came on the same day Manchester City said the English Premier League soccer club was backing an 81.6 million pound takeover bid led by Thaksin.

Thaksin, who has been living in London since the coup, said he was not worried about his personal safety but he was concerned about the potential for clashes between the military and the public were he to return.

Asked how he could pursue the military government for the return of assets if he was not in Thailand, Thaksin said his wife and children would fight the case.

- Reuters

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

Staggeringly grotesque behavior for a husband and a father.

Also, by proclaiming, yet again, that "It's my money"... he further solidifies his guilt as per Mr. Korn's assertions found here:

http://www.bangkokpost.com/News/18Jun2007_news03.php and here:

http://www.thaivisa.com/forum/index.php?ac...amp;pid=1367628

Edited June 22, 2007 by sriracha john

[hammered]

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.

The Junta would prefer another candidate to Abhisit. He will find it hard to become PM. The meme that he is too young will be used. Then the meme that he is not Thai will be used. Etc. There will be an attempt to cobble together an alliance of ex-TRT defectors to bring in an alternative PM. People like Chavalit, Banharn would be a very unwelcome return to the old days. Running another new contender against Abhisit on an even playing field would be the best Thailand could hope for, and hopefully the winner would not be beholden to an arcane alliance of meglomaniacal self serving MPs. We will see.

What do you mean Abhisit is not Thai?

I think the old guard such as Banharn, Chavalit, Saran, Sanoh know their days have passed, they're more looking to play the role of kingmakers, watch out for any high- fliers joining their parties as shoe-ins. Remember the next PM must come from the MPs.

In addition the reformed TRT under another name could contain some heavy- weights.

The Abhisit is not Thai comment refers to wat somebody else alluded to. It is not true of course but it is a meme that has already been used by TRT in he past and it certainly works in the rural villages of the North of Thailand. However, with the TRT complte propoganda control of these villages now shattered it may not be as effective.

I personally dont think Banharn and possibly the insane hero of Ban Ron Khlao as believing their days are over. Only a year ago Banharn was begging Mr. T to stand down for a while and let him become PM. Then it wasnt many months ago that the hero of 1997 was offering to take the TRT party over for the sake of the country. That only ended after Gen. Saprang ridiculed our hero.

Personally I am interested in teh now touted Mr. X who obviously right now doesnt exist but is more of an invite for suitable candidates to come forward in the stop Abhisit campaign.

[sriracha john]

The Abhisit is not Thai comment refers to wat somebody else alluded to. It is not true of course but it is a meme that has already been used by TRT in he past and it certainly works in the rural villages of the North of Thailand. However, with the TRT complte propoganda control of these villages now shattered it may not be as effective.

I personally dont think Banharn and possibly the insane hero of Ban Ron Khlao as believing their days are over. Only a year ago Banharn was begging Mr. T to stand down for a while and let him become PM. Then it wasnt many months ago that the hero of 1997 was offering to take the TRT party over for the sake of the country. That only ended after Gen. Saprang ridiculed our hero.

Personally I am interested in teh now touted Mr. X who obviously right now doesnt exist but is more of an invite for suitable candidates to come forward in the stop Abhisit campaign.

Never count out the colorful and squeaky clean image of the Chart Thai Party member without Barnharn's checkered past...

[CNXagent]

Just curious...

Can anybody remember how much did the then PM Thaksin donated to Tsunami victim in Phuket?

I think HM the king donated 30 millikon baht or something like that??

[Old Man River]

I personally dont think Banharn and possibly the insane hero of Ban Ron Khlao as believing their days are over. Only a year ago Banharn was begging Mr. T to stand down for a while and let him become PM. Then it wasnt many months ago that the hero of 1997 was offering to take the TRT party over for the sake of the country. That only ended after Gen. Saprang ridiculed our hero.

Personally I am interested in teh now touted Mr. X who obviously right now doesnt exist but is more of an invite for suitable candidates to come forward in the stop Abhisit campaign.

Picking up where I left off last night, in this morning's Opinion column in The Nation, Thanong mentioned Abhisit, Banharn or this famous Mr. X as the next PM. My three picks have been Abhisit, Banharn and Somkid (pending a reversal of his being banned).

Thanong opined that a new TRT affiliated party would fail and that instead the unnamed Mr. X would come from a military backed party. He also didn't see Dr. Supchai as a possibility as he wouldn't go against his long time friend, Chuan.

From my view, should a military backed party be formed, the ruling coalition may well be MP's from this new party, the Demo's and one other smaller party. If this occurs and it isn't Abhisit (for whatever reason), then Dr. Supachai's name will come up again and again.

[sriracha john]

Across a wide variety of topics.... there's a lot of material here...

Financial Times Transcript: Interview with Thaksin Shinawatra

Roger Blitz interviewed Thaksin Shinawatra, the exiled former Thai prime minister who on Thursday agreed to buy UK football club Manchester City for £81.6m ($163m) hours after he was charged by Thai prosecutors of corruption. The following is an edited transcript of the interview.

FT: How many times have you watched Manchester City?

Thaksin Shinawatra: I haven’t watched myself, in the stadium, but I watched it several times in the television in Thailand and here.

FT: But you know how well they’re doing in the last season?

TS: Yeah, they are a very, very good club and a big club, which I like. But the team, we have a lot of room to improve.

FT: Lots of room to improve?

TS: Yes, I think so. I talk to many of my football experts, friends. They all agree that we can improve a lot.

FT: Have you been to the stadium?

TS: Yes, I have been into the stadium twice.

FT: You’re impressed?

TS: Yes, very impressed, wow. A big stadium, beautiful and well designed.

FT: And obviously the fans and the supporters there, are very, very excited?

TS: Yes. That’s the value of the club, that’s the fans supporting in Manchester especially and in Asia.

FT: And in Asia?

TS: Yes, especially China, because we have the player from China, Sun Jihai.

FT: Of course.

TS: The Chinese people, they know Manchester City very well.

FT: The Chinese people?

TS: Yes.

FT: What about in Thailand? Do they know about it?

TS: Oh, yes. All the Asian people know all the Premier Leagues. And when Manchester City is one of the very old established and large clubs, then they’ve been followed and they have friends in Asia as well.

FT: It is a fantastic passion for Premier League Football in Thailand.

TS: Yes, very much. You know, I’ve experienced this during my business times, because we had to buy the rights, because I had a cable TV business. I had to buy right of Premier League and FA Cup to show on cable TV. Sometimes we had to compete with the commercial TV to get the rights.

FT: And you know how much the rights are worth now?

TS: Oh, yes, much more. During my time, during business life, it kept getting more expensive every year.

FT: You will be the chairman. How active are you going to be as a chairman? You obviously have Alistair Macintosh staying as chief executive.

TS: Yes. We have to have chief executive definitely. I will be giving the vision and approve the strategy how to bring the club forward and also how we can bring the club into the hearts and minds of fans, especially in Asia as well.

FT: Could you just outline some of the strategy, some of your thinking?

TS: Well, definitely we will improve the club, bring in a new coach, bring new players and improve all the facilities that we need. That’s in the very beginning. And after that I’m thinking about how we can have a Manchester City presence worldwide. Not just through the television broadcasting.

We might have academies in different parts of the world. And after the academies we might have the team. For example, we might have Manchester City China, Manchester City South Asia, Manchester City Middle East, Manchester City in Africa, or in Latin America. Then finally we will attract the good players in each region and bring them together to form the Manchester City of that region team.

And then we might have a league between them. Whoever wins will play with the Manchester City first team. So we can attract good players worldwide, to the Manchester City in the future.

FT: Does that mean buying up clubs in other leagues around the world?

TS: Instead of buying, we probably have to build our own.

FT: Build your own?

TS: Yes. It will be step by step. We may not do everything at the same time. This is the vision, that we would bring talented player from all over the world, through setting up, long term, that academy. Short term; attract the good player in that region to form the Manchester City of that region team.

FT: That would take many years, would it not?

TS: Well, normally I don’t want to wait that long, three years maybe.

FT: Three years?

TS: Yeah, maybe talking about three years.

FT: And more immediately, you obviously need to improve the players in the team?

TS: Oh, yes, that’s an immediate plan.

FT: And how much can you say to the manager and the chief executive that will be available for them to spend on players?

TS: Well, you know when you start to invest this much money, you never want it to go down.

FT: You never want it to go down?

TS: Yes. You know, how much we spend. If needed, we have to support it. We are not just in a buying spree, spend everything, that’s not going to be the way we do it. But we will spend as much as we need. If we need 20, 30, 40 [million pounds] it depends on how much we really need it.

FT: Right and you have no worries about being able to afford this?

TS: No.

FT: This is not something that’s going to make you lose sleep?

TS: Well, we have to have the reason why we spend this much money. Business reason and at the same time reputation of the club as well.

FT: You were interested in Liverpool before, is that right?

TS: Yes.

FT: Things didn’t work out.

TS: No.

FT: But have you been looking at other clubs?

TS: Well, I’m interested to participate in the Premier League. But I’m not interested in some other clubs. But when Manchester City come across, I think this is a good club that I want to have. So I’m working with Keith [Harris, financial adviser from Seymour Pierce] and then we work very hard to get the club. I have to thank John Wardle [Manchester City chairman] for his generosity to allow me to land this club.

FT: Is there something particular about Manchester City? Obviously, it’s a very different club from Liverpool in terms of success.

TS: Yes.

FT: But is there something very different about or particular about Manchester City, perhaps a club that is struggling in the league and you can build it?

TS: Well, if you look at the club itself, it’s quite a big one and really 100 years old. And also the support of the fans in Manchester City is very strong. So this is a good club that we should put our efforts bringing it forward.

FT: Is it a benefit, or a slight disadvantage that the club does not own the stadium?

TS: Well, it’s an advantage and a disadvantage. If it were to own it, it’d probably have a lot of debt. If it does not own it, in this part you don’t have debt, but you have the commitment to pay in future, to pay the rental in the future…

And I talk to my friend and he ask me how serious are you going to be with this club? I said well, this stadium is 250 years [rental] contract, only four years past, 246 years left. Tell everyone, don’t do the contract extension, I will do it myself next time!

FT: You obviously want to also not just develop the academies around the world as you say, but to market the club as well. You’ll be spending money on…?

TS: That’s another part that I have to do very carefully, look at all the contracts and the legal binding with other partners. And the name of Manchester City itself, it’s quite strong if you were to market it right. And it will be attracting fans in other sectors, by having merchandise that is good quality, not expensive. And when they use it they feel, oh okay, they have Manchester City with them. And in the future they will become a fan of the football club. So, fan for the football club itself and fan of the product. And then, it becomes fan of the whole club. And that’s what I think, if in the future, especially with the relationship with then Chinese market, then, it’s very important, especially in Asia and the Middle East.

FT: Are you worried about confusion in marketing terms with Manchester United, which obviously is much more well known?

TS: No, it’s clear, Manchester City and Manchester United. And the colour itself is different… But anyway, we have to our own segment on marketing.

FT: How close are you to being able to appoint a manager?

TS: My advisors is now working on it. I let the experts do it. I just give them consent.

FT: It’s been suggested that you, yourself, favour Sven Goran-Eriksson as your first choice.

TS: Well, he is one person that has talents and is a good man, very reputable. But I leave it to my experts so I don’t know yet when they can draw the conclusion.

FT: Will you want to have the final say as to who it’s going to be?

TS: Well, normally the final say is probably about 90 per cent from my advisors and then I just give the consent.

FT: There has been a lot of talk about the freezing of the assets in Thailand and whether this would affect the purchase. Clearly it has not. You’ve been able to separate this?

TS: I come from a democratically elected government and been overthrown by a military junta. And the committee that set up the law they use is really under the dictatorship and military control government. And everything is politically motivated. …British people… should understand this very well, that this is truly politically motivated. And we should be able to handle this, especially after democracy returns to Thailand in December. But I’m not worried about it. How can I corrupt my own money that the whole family has been working hard for, for more than 20 years?

FT: It has caused you difficulty in this deal?

TS: Oh, yeah, definitely, but I can handle it, because I have credit with friends worldwide. So I should be able to handle things.

FT: Are the assets themselves… could you just describe… these are private assets that you used to buy the club?

TS: Yes. You know, you have the process here. The UK has a very good system. Sometimes I feel a bit uncomfortable being asked too much. But anyway, it’s a very good system, especially the client acceptance procedures to clear that you have sufficient funds - is it clean? So this is a very good system; that is proved already by the two financial agencies that represent Manchester City and represent myself, and also the authority. So the money has been drawn from the money that my family sold shares in the company that we found.

FT: And have you sought assurances from either government authorities or from the Premier League that your purchase of Manchester City is, in their view, perfectly acceptable, and that…?

TS: Yes. We have gone through that. That’s the reason why it’s a bit slow in the process, because we have gone through a lot of difficulties to prove it… and everything.

FT: And can you just help me with these charges? The Thai authorities want you to return to Bangkok, and they’ve put a date of next week. Are you planning to go back?

TS: I’m planning to go back definitely, but not now. But, you know, everything… the laws of the game…have been set by the military junta. So you know immediately you don’t get the justice. When you don’t have the justice, you have to take some time before you go in until you ensure that you will have the justice.

FT: Would you be worried by your personal safety if you were to return?

TS: No, I’m not worried.

FT: Right.

TS: I’m not worried. I know that many people worry about my safety, and what I’m worried is I don’t want the confrontations among the Thai people, the public and the military, because I don’t want the Thai military to take very strong measures to the Thai innocent people who seek democracy; who are crying for democracy. That is not good for the country. That is the reason why I have to sacrifice by staying abroad for nine months already.

So actually, I should go back home, but I don’t want to see this to happen, because this is the first time in Thai history that the military junta’s overthrown the government that comes from the people, and is still very, very popular. So that’s why the conflict is still there, because the people like the government; the military said no, you are too strong, better go. So that is something that has never happened before in Thailand.

FT: Am I right in saying that you said after September that you had retired from Thai politics?

TS: Yes, yes.

FT: And is that still the case?

TS: Yes, yes. I retire already, completely. Even they are not sure I am retired, they ban me from politics for five years. So don’t worry, I am retired already. Now I find myself a job as a chairman. [Laughter].

FT: So you obviously have a desire to return, but you want to return as a private citizen?

TS: As a private citizen under a democracy.

FT: You obviously have a desire to see democracy restored in Thailand, but this is not something you want to campaign for actively.

TS: No, no, no. I’m trying to stay away from politics. Let the people in Thailand, who the majority of them, almost 99.99 per cent want democracy, is asking for it and crying for it, and then they will get democracy back in December.

FT: And there has been some talk amongst some academics who see that your acquisition of a Premier League football club is in some way a way to reconnect with the people of Thailand in order to maintain your popularity in Thailand. Is there anything in this?

TS: t think so. If I were to be popular, it’s because of what I have done; a good thing for the country; a good thing for the people and the monarch. But, you know, buying a football club is something that I really dreamed for for many years.

FT: But you obviously have financial interests in Thailand. You obviously want to see all that restored to you.

TS: Yeah, definitely. It’s my money; my family money. They have no right to take it. We will sue them anyway. We have to sue, otherwise we cannot get our money back; because it’s my money. It’s our money.

FT: But if you are going to get your money back, you accept you have to go through a court process?

TS: Yes.

FT: How will you do that if you don’t return to the country?

TS: Well, the majority of the asset belongs to my children and my wife. I have very little.

FT: What, are you suggesting they might go back?

TS: My wife, most of the time, she stays in Thailand.

FT: Right. So she will fight the case on your behalf?

TS: Oh yes, she will fight the case, and my children will fight the case.

FT: Right. And your children are… are they here and in Thailand?

TS: Only one here goes to school. She goes to school.

FT: But you will seek to find, through your wife and other representatives, ways of challenging the courts?

TS: Oh yes, we have to do it.

FT: Have you set up a process for being represented when these cases are heard in Bangkok?

TS: I think our lawyers are prepared.

FT: Could I just come back to the issue of the private assets, because presumably the Thai authorities will want to have some kind of evidence that this is money separated from the assets that they’ve frozen.

TS: Actually you know, they have no right to freeze my assets at all, because it’s the assets that the family working for over 20 years. In 1994, 13 years ago when I entered politics as a minister of foreign affairs, … I voluntarily declared my assets. And all the Thais know very well that at that time I have over $2bn already. That is in 1994. And then I went into politics briefly and only had five days as minister of foreign affairs, and I also appeared in Forbes magazines [showing] that my net worth is over $2bn. That’s before politics. How can they freeze my assets?

FT: They’re freezing about $2bn?

TS: Yes, yes. The same sort of asset; that is the asset that belongs to… the shares that belong to my family.

FT: Can I ask what the price of the…?

TS: The stock? The shares have gone up, yeah.

FT: Right. But can I ask what assets you have outside of Thailand?

TS: Most of the assets that I have outside Thailand are the assets come from dividend, or the sale of the shares. That’s all. I don’t have other source of income. That’s it.

FT: Could you help us with how much that is?

TS: Not much; not much. Because I love Thailand so much, instead of selling shares outside Thailand, I sell in Thailand.

FT: Can I just come back to the club? Do you feel an urgent need to spend money on players now?

TS: There might be some part of it, yeah. We have already committed the money for it.

FT: And we can expect to see some activity in the next few weeks?

TS: Oh yes, definitely; definitely. We have not got much time. We don’t have much time. We are a bit late to come to the conclusion.

FT: Do you have a target where you want to see the club in the table in the next year or two? I mean, everybody says they could win the League, but…

TS: Well, I can dream, but it’s not easy. I can dream. [Laughs]. But anyway, we are moving the club forward, definitely.

FT: And I’m interested whether you know of other investors from Asia who are interested in Premier League clubs. Do you think that you are part of a growing interest from private investors from South East Asia?

TS: I think from there, there will be more Asians who might have interest in some other clubs. I don’t know. [There are] many rich Asians.

FT: And the Chinese market is the market that’s very important.

TS: China is important. Middle East is important. And even South East Asia as well.

FT: And do you feel that your model about academies, have you seen that elsewhere in any sport or any other…?

TS: No.

FT: So you’re trying to do something no one’s done before?

TS: I’d like to try something that’s different.

FT: Have you costed it? Have you given it… actually sat down and tried to work out how much it’s going to cost you to put this academy structure in place?

TS: Well, I think it’s much cheaper than buying; just going and buying it.

Sometimes you have to… you know, if you buy a piece of land and you build the whole building and you sell it, you end up making more money than just going and trying to buy the ready-made one.

FT: Is this your first acquisition of a company outside Thailand?

TS: Yes.

FT: Are there more to come, not necessarily in football, but in other sectors?

TS: I don’t know yet. I don’t know. One step at a time, because I’m too busy now with the problem that’s created by the military junta. [Laughs].

FT: Now you mention it, do you think they are very irritated by you buying up an international football asset?

TS: Well, you know, they should not worry much about me, because I already declared that I retired from politics already, so they don’t have to worry about it. I have to find something to do. I’m very hyperactive. I cannot sit idle and do nothing. I want to do something that I really like. I’m 58 already; getting old. Life is not that long, so you have to find something to do that you really like.

FT: What do you think is motivating the junta to go after you in this way? Why do you think they feel the need?

TS: They may worry about me too much… They should not worry about it, because I’m not going back to politics.

- The Financial Times

Edited June 22, 2007 by sriracha john

[younghusband]

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.

The Junta would prefer another candidate to Abhisit. He will find it hard to become PM. The meme that he is too young will be used. Then the meme that he is not Thai will be used. Etc. There will be an attempt to cobble together an alliance of ex-TRT defectors to bring in an alternative PM. People like Chavalit, Banharn would be a very unwelcome return to the old days. Running another new contender against Abhisit on an even playing field would be the best Thailand could hope for, and hopefully the winner would not be beholden to an arcane alliance of meglomaniacal self serving MPs. We will see.

What do you mean Abhisit is not Thai?

I think the old guard such as Banharn, Chavalit, Saran, Sanoh know their days have passed, they're more looking to play the role of kingmakers, watch out for any high- fliers joining their parties as shoe-ins. Remember the next PM must come from the MPs.

In addition the reformed TRT under another name could contain some heavy- weights.

The Abhisit is not Thai comment refers to wat somebody else alluded to. It is not true of course but it is a meme that has already been used by TRT in he past and it certainly works in the rural villages of the North of Thailand. However, with the TRT complte propoganda control of these villages now shattered it may not be as effective.

I personally dont think Banharn and possibly the insane hero of Ban Ron Khlao as believing their days are over. Only a year ago Banharn was begging Mr. T to stand down for a while and let him become PM. Then it wasnt many months ago that the hero of 1997 was offering to take the TRT party over for the sake of the country. That only ended after Gen. Saprang ridiculed our hero.

Personally I am interested in teh now touted Mr. X who obviously right now doesnt exist but is more of an invite for suitable candidates to come forward in the stop Abhisit campaign.

I am still completely baffled why anyone might think Abhisit is not Thai. Can you spell out what you mean please.While you're at it what is a "meme"?

[A_Traveller]

I am still completely baffled why anyone might think Abhisit is not Thai. Can you spell out what you mean please.While you're at it what is a "meme"?

I'm assuming that what hammered means by allude to is my post above. Post 217

A meme is a term by Richard Dawkins to described a 'discrete unit' of popular culture, e.g. catch phrase, an element of 'conventional wisdom' etc..

Regards

edit add link + poster ID //

Edited June 22, 2007 by A_Traveller

[younghusband]

I am still completely baffled why anyone might think Abhisit is not Thai. Can you spell out what you mean please.While you're at it what is a "meme"?

I'm assuming that what hammered means by allude to is my post above. Post 217

A meme is a term by Richard Dawkins to described a 'discrete unit' of popular culture, e.g. catch phrase, an element of 'conventional wisdom' etc..

Regards

edit add link + poster ID //

Ok thanks.By which standard Khun Anand is not a Thai,Khun Kukrit was not a Thai and many royal princes were not Thais.

[Grover]

I wonder as a father how Mr. Thaksin feels about having dragged his own kids into his own questionable business affairs which at the very least border on legality. I know if I personally thought something was risky or possibly legally questionable I certainly wouldnt have dragged my kids into it. Few seem to want to look at or disucss this more personal and possibly tragic angle.

I think Thaksin will shield his children as much as he possibly can, as any normal father would do, and also due to the fact that he is in some way responsible for their predicament.

Thus he bears a painful double burden of being the cause and defender of their problems.

[sriracha john]

I wonder as a father how Mr. Thaksin feels about having dragged his own kids into his own questionable business affairs which at the very least border on legality. I know if I personally thought something was risky or possibly legally questionable I certainly wouldnt have dragged my kids into it. Few seem to want to look at or disucss this more personal and possibly tragic angle.

I think Thaksin will shield his children as much as he possibly can, as any normal father would do, and also due to the fact that he is in some way responsible for their predicament.

Thus he bears a painful double burden of being the cause and defender of their problems.

Rather than shield his children.... it's vice versa... they are his shield as well as his fall guys..

His own words hang him....

FT: But if you are going to get your money back, you accept you have to go through a court process?

TS: Yes.

FT: How will you do that if you don’t return to the country?

TS: Well, the majority of the asset belongs to my children and my wife. I have very little.

FT: What, are you suggesting they might go back?

TS: My wife, most of the time, she stays in Thailand.

FT: Right. So she will fight the case on your behalf?

TS: Oh yes, she will fight the case, and my children will fight the case.

[steffi]

TS: My wife, most of the time, she stays in Thailand.

That's a good one isn't it. I look forward to seeing her return soon.

Thaksin isn't going to return until he has a favourable government in office that is prepared to sweep those charges under the rug for him.

If Thaksin was truely innocent he could prove his innocence and he wouldn't have anything to worry about but he's implying that there's no fair justice in Thailand and that all the evidence has been concocted. He just got so much richer when he was in office and it's pure coincidence.

Tricky situation since the junta cannot go public with evidence as that will weaken their case against Shin...

What we do know though is regardless of evidence the Shin's went out of their way to conduct a transaction such that they didn't pay any tax. Secondly whilst in office they apparently went out of their way to conceal their true wealth. That alone says a lot about them.

Thaksin is over estimating how popular Man City is or can be in Asia. I don't believe they have much brand recognition in Asia and Thaksin needs to understand that Man City's fans like a lot of true football fans are working class. I expect difficult times for Thaksin down the road both with the FA and the fans.

[Grover]

I wonder as a father how Mr. Thaksin feels about having dragged his own kids into his own questionable business affairs which at the very least border on legality. I know if I personally thought something was risky or possibly legally questionable I certainly wouldnt have dragged my kids into it. Few seem to want to look at or disucss this more personal and possibly tragic angle.

I think Thaksin will shield his children as much as he possibly can, as any normal father would do, and also due to the fact that he is in some way responsible for their predicament.

Thus he bears a painful double burden of being the cause and defender of their problems.

Rather than shield his children.... it's vice versa... they are his shield as well as his fall guys..

His own words hang him....

FT: But if you are going to get your money back, you accept you have to go through a court process?

TS: Yes.

FT: How will you do that if you don’t return to the country?

TS: Well, the majority of the asset belongs to my children and my wife. I have very little.

FT: What, are you suggesting they might go back?

TS: My wife, most of the time, she stays in Thailand.

FT: Right. So she will fight the case on your behalf?

TS: Oh yes, she will fight the case, and my children will fight the case.

Yes, he has been using his family as a legal shield to help protect his fortune. But now that the fort has been breeched and the family freedom and jewels under threat, I would think (guess) that the family members are turning to him and saying "you put us in this mess, its your responsibility to take us out of it !"

Edited June 22, 2007 by Grover

[John K]

I could not help but wonder if 'unfair' is a legal term used when legitimate legal terms do not apply.

[Tony Clifton]

Thaksin: Freeze won't affect Man City deal

Says he took cash out of Thailand 'a long time ago with permission'

Ousted Prime Minister Thaksin Shinawatra assured Manchester City fans the freeze on his assets would not affect his deal for the football club's takeover, saying the funds he had set aside to buy the club had the blessing of the Thai authorities.

"Don't worry: the money that we plan to use to work with Manchester City I got permission to bring from Thailand a long time ago," Thaksin said in an interview with the Manchester Evening News website.

"Bringing that money out of Thailand had been planned several months before this thing happened. In addition, I have friends all over the world I can ask for credit from until I get the justice system to unfreeze my money."

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

Got permission? How long ago? From who? While he was PM? And he did not use his influence to move the money?

I'll bet there are quite a few yet uncovered irregularities concerning Thaksin and his money stash abroad.

[hammered]

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.

The Junta would prefer another candidate to Abhisit. He will find it hard to become PM. The meme that he is too young will be used. Then the meme that he is not Thai will be used. Etc. There will be an attempt to cobble together an alliance of ex-TRT defectors to bring in an alternative PM. People like Chavalit, Banharn would be a very unwelcome return to the old days. Running another new contender against Abhisit on an even playing field would be the best Thailand could hope for, and hopefully the winner would not be beholden to an arcane alliance of meglomaniacal self serving MPs. We will see.

What do you mean Abhisit is not Thai?

I think the old guard such as Banharn, Chavalit, Saran, Sanoh know their days have passed, they're more looking to play the role of kingmakers, watch out for any high- fliers joining their parties as shoe-ins. Remember the next PM must come from the MPs.

In addition the reformed TRT under another name could contain some heavy- weights.

The Abhisit is not Thai comment refers to wat somebody else alluded to. It is not true of course but it is a meme that has already been used by TRT in he past and it certainly works in the rural villages of the North of Thailand. However, with the TRT complte propoganda control of these villages now shattered it may not be as effective.

I personally dont think Banharn and possibly the insane hero of Ban Ron Khlao as believing their days are over. Only a year ago Banharn was begging Mr. T to stand down for a while and let him become PM. Then it wasnt many months ago that the hero of 1997 was offering to take the TRT party over for the sake of the country. That only ended after Gen. Saprang ridiculed our hero.

Personally I am interested in teh now touted Mr. X who obviously right now doesnt exist but is more of an invite for suitable candidates to come forward in the stop Abhisit campaign.

I am still completely baffled why anyone might think Abhisit is not Thai. Can you spell out what you mean please.While you're at it what is a "meme"?

Others may have answered this by now. However, Abhisit is often attacked by political opponents as not being Thai. This doesnt mean he doesnt have the natioanlity but because of the time spent in the UK he doesnt have shall we say the requisite Thainess needed to be a PM. It is a meme because "Abhisit isnt Thai" or "isnt real Thai" is a short political statement. Meme has been used a fair deal by US bloggers to describe impressions that government or politicains try to make that the media will go with and which may not be factually accurate. That is the usage of meme in this example.

[sriracha john]

[sriracha john]

Incredibly... they found yet ANOTHER huge cache of cash...

AEC freezes more account of Damapong worth 4.77 Billion Baht

The Assets Examination Committee Monday ordered froze another account of Damapong Bhanapot, a brother-in-law of former prime minister Thaksin Shinawatra, worth 4.775 Billion Baht.

AEC spokesman Sak Korsaengruang said the AEC was still hunting for the remaining 4.275 Billion Baht as part of the proceeds of the sale of Shin Corp's shares by Thaksin's family to Temasek Holdings of Singapore.

- The Nation

[sriracha john]

More Thaksin money frozen by Thai government

Thai officials today said they will freeze an additional €106 million in assets believed to be controlled by ousted Prime Minister Thaksin Shinawatra.

The Assets Examination Commission has already frozen over €1 billion of his family's wealth pending the outcome of court cases related to charges of corruption and abuse of power.

If the courts rule against Thaksin, the money could be seized by the government.

English Premier League team Manchester City may have to wait up to three weeks for Thaksin's takeover of the club to be completed, giving the new regime little time to prepare for the new season.

- Belfast Telegraph

[sriracha john]

The cash is falling out of the woodwork now....

Thaksin relative's assets frozen

Thailand's Assets Examination Committee on Monday ordered a freeze on an additional 4.775 Billion Baht in three bank accounts belonging to a brother-in-law of deposed prime minister Thaksin Shinawatra. It was the fourth group of assets ordered frozen by the panel in less than a month, following the earlier freeze of 21 bank accounts of Mr. Thaksin worth about 52 Billion Baht and another 8.8 Billion Baht on June 18 as well as nearly 5 Billion Baht in seven bank accounts owned by the deposed prime minister. AEC spokesman Sak Korsaengruang said the panel has ordered the freezing of accounts owned by Bannapot Damapong, brother of Mr. Thaksin's wife, Pojaman.

Continued here:

http://www.bangkokpost.com/topstories/tops...s.php?id=119695

[sriracha john]

Thai authorities freeze more Thaksin money

BANGKOK • Thai anti-corruption authorities yesterday ordered a freeze on another 4.7 billion baht ($143.6m) of ousted prime minister Thaksin Shinawatra’s money.

But the Assets Examination Committee (AEC) said it had not yet opened an investigation into the financing of Thaksin’s bid to buy the English Premiership club Manchester City.

“The AEC today has decided to freeze another 4.7 billion baht in three bank accounts,” said Sak Korsaengruang, a panel spokesman.

The money was held by a firm called BBD Development Company, but was transferred there by Thaksin’s family, Sak said.

The latest freeze came in addition to 52.9 billion baht blocked two weeks ago by the panel, Sak said.

He declined to say how much money had been frozen so far, saying: “The figure is not stable yet.”

Thaksin lodged a formal offer for City on June 21, but in Thailand he is facing corruption charges over a property deal.

He has also been ordered to appear before police in Bangkok by Friday to hear additional charges of fraud.

- Reuters

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

The game of "hide-n-seek" by Thaksin isn't going too well...

Can TV sponsor a prize for the best submission of what the acronym "BBD" company stands for?

Edited June 26, 2007 by sriracha john

[Jai Dee]

AEC to punish Revenue Dept.’s officials refusing to collect tax from Shin Corp share deal

The Assets Examination Committee (AEC) resolves to punish high-ranking officials of the Revenue Department who refused to collect tax from the Shin Corp’s share sale and has a plan to seize more assets of the Former Prime Minister Thaksin Shinawatra.

AEC Spokesman Sak Korsaengruang (สัก กอแสงเรือง) reveals that the AEC subcommittee scrutinizing the Shin Corp’s share deal is considering disciplinary punishments for the officials who launched a resolution to exempt tax of the deal made by the Shinawatra and the Damaphong (ดามาพงศ์) Families. Mr Sak says the matter might be finalized during the subcommittee’s meeting in the afternoon yesterday.

Mr Sak says further that although the chairman of the subcommittee on the asset seizure, Khunying Jaruwan Maintaka (จารุวรรณ เมณฑกา), is on her official trip abroad, the trace of the rest of the Shin Corp share deal of about 15 billion baht can be carried out immediately. The Spokesman says the AEC might launch a resolution to seize this amount of money.

In addition, the spokesman says the subcommittee is writing a yellow-cover book on facts about the asset seizure of the deposed Prime Minister’s family.

Source: Thai National News Bureau Public Relations Department - 26 June 2007