Thaksin And His Wife Issued Arrest Warrants Over Ratchadapisek Land Case

[Jai Dee]

DPM Somchai confident Mr. Thaksin and Khunying Potjaman will not seek political asylum

Deputy Prime Minister and Minister of Education Somchai Wongsawat (สมชาย วงศ์สวัสดิ์) is confident that former Prime Minister Thaksin Shinawatra (ทักษิณ ชินวัตร) and his spouse, Khunying Potjaman Shinawatra (พจมาน ชินวัตร), will not avoid their court appointments, despite reports that the two had transported 9 suitcases abroad.

Mr. Somchai, in his capacity as a relative of the Shinawatra family, affirms that the former premier and his wife will remain in Thailand to plead their case before the justice system, and will not seek political asylum abroad. Mr. Somchai said that Khunying Potjaman is a firm believer in justice. The Deputy Prime Minister also affirms that Mr. Thaksin will return to Thailand for his court appointment on August 11, following the former prime minister's request to travel abroad.

Mr. Somchai adds that Mr. Thaksin has followed the legal court's orders to the letter.

Source: Thai National News Bureau Public Relations Department - 07 August 2008

[sriracha john]

Well, she, and he, by proxy, would know...

The illuminating, vivacious, and ever-lovely Mrs. Somchai (aka Somchai's wife and Thaksin's sister, Yaowapa) *btw, she's also a People Power Party MP*

Deputy Prime Minister Somchai: Thaksin, wife will return to fight charges

Deputy Prime Minister and Education Minister Somchai Wongsawat insisted deposed premier Thaksin Shinawatra and his spouse Potjaman are not seeking political asylum, and they will return to fight their charges in Thailand. Somchai said Doctor Police Lieutenant Colonel Thaksin will appear before the court on August 11, following the court’s approval for him to travel abroad. He said the ousted PM has always followed the court’s orders. The court earlier found Potjaman together with her brother Bannapot Damapong, and her secretary Karnchanapa Honghern guilty of conspiring to evade tax worth 546 Million Baht on the transfer of shares in Shinawatra Computer and Communication. However, Potjaman still has confidence in the Thai justice system, according to

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=129397

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

The report on Potjaman's gang actual flight to avoid time in pris.... errr, I mean flight out of Thailand this morning is here:

http://www.thaivisa.com/forum/index.php?s=...t&p=2131877

Edited August 7, 2008 by sriracha john

[sriracha john]

Who says Thaksin's not good for the economy???

Thai stocks jump on Thaksin exile rumours

BANGKOK, Aug 7 (Reuters) - Thailand's stock market rallied on Thursday amid intensifying speculation ousted Prime Minister Thaksin Shinawatra would go into exile, signalling a possible easing of more than two years of political tension.

By 0810 GMT, the main SET index was up 3.2 percent at 697.7 having risen to its highest level since mid-July. The market outperformed amid steady Asian equities.

Shares in PTT PTT.BK, Thailand's biggest energy firm, jumped 7.5 percent while top lender Bangkok Bank BBL.BK rose 2.5 percent.

"The market rose on rumours Thaksin would seek political asylum," a local brokerage said in a research report obtained by Reuters.

Thaksin and his wife, Potjaman, who was sentenced to three years in jail last week for tax fraud before being freed on bail, left Thailand shortly afterwards to go to Japan and then on to the Olympic Games opening in Beijing.

Their departure, with a large amount of luggage and their crying adult children, sparked rumours among political opponents they might not be returning. The rumours intensified on Thursday after being published in Thai-language newspapers.

Anubhon Sriaj, head of research of BFIT Securities said: "Expectations were mixed on the political scene. But newspaper reports this morning on the issue spurred market expectations of improving political sentiment."

Spokesmen for Thaksin, who is facing corruption charges lodged after his removal in a 2006 military coup, have consistently denied the speculation.

On Thursday, Thaksin spokesmen were not immediately available for comment.

The local brokerage said in the report: "If Thaksin actually went into exile, political tension would ease in the short term as the risk of clashes between the two sides would be lessened.

[Jai Dee]

Topic titled edited to be case specific: the Ratchadapisek Land Case thread.

[sriracha john]

^ Thanks for that, Jai Dee... and just in time for the festivities tomorrow...

Thaksin, wife flying in today

Ousted PM Thaksin Shinawatra and wife Pojaman return to Thailand today for the start of their trial over a Ratchadaphisek land deal tomorrow, a source on his defence team says.

Thaksin and Pojaman will report to the Supreme Court's Division for Political Office Holders at 9am tomorrow.

Thaksin instructed his lawyers to prepare documents for all court cases, including the lottery case and the Exim Bank loan case.

He asked lawyers to prepare action against those who he claims have defamed him, including Democrat Party-list MP Kraisak Choonhavan who made allegations against Thaksin over the killing of drug suspects.

Kriangchai Jungjaturapit, Chairman of the court division, says defendants found guilty by the court can appeal their convictions in the Supreme Court.

- The Nation

[sriracha john]

and just in case he doesn't show tomorrow...

Supreme Court affirms that it will proceed with Ratchada land case if former PM does not return

A high ranking source within the Supreme Court responded to rumors that former Prime Minister Thaksin Shinawatra may not report back to the court processing his involvement in the Ratchada land scandal, saying that the court will continue with the matter nonetheless. The source stated that a clear procedure has been set for proceeding with the case and also commented that speculation should not be placed on whether or not the deposed PM would return.

Reports however have stated that former premier Thaksin has booked a flight out of Beijing and is scheduled to return to Thailand at 9:40 PM today after attending the opening of the Beijing 2008 Olympics.

- ThaiNews

[Jai Dee]

News and discussion over Thaksin's failure to return to Thailand can be found in this thread.

[Old Man River]

and just in case he doesn't show tomorrow...

Supreme Court affirms that it will proceed with Ratchada land case if former PM does not return

A high ranking source within the Supreme Court responded to rumors that former Prime Minister Thaksin Shinawatra may not report back to the court processing his involvement in the Ratchada land scandal, saying that the court will continue with the matter nonetheless. The source stated that a clear procedure has been set for proceeding with the case and also commented that speculation should not be placed on whether or not the deposed PM would return.

Reports however have stated that former premier Thaksin has booked a flight out of Beijing and is scheduled to return to Thailand at 9:40 PM today after attending the opening of the Beijing 2008 Olympics.

- ThaiNews

This case is a non-case (waste of taxpayers money). Best the courts concentrate on other cases where they have real proof of wrongdoings. If they rule against Thaksin on this one, they will only give credence to his accusations that he is being targeted for political reasons. There are other cases where his comments have no merits. Stick with those.

[Plus]

There IS a merit in this case, and it's pretty straightforward - the PM or his wife cannot enter into contracts with the state, auctions or not.

The law is pretty clear on this one, it doesn't require to prove damages, it's just the principle.

If prosecutors go for damage estimation they'll have a hard time of playing "what if" scenarios and look ridiculous, true, but the principle still stands.

The defence can only argue that the PM doesn't have the direct control over the agency that sold the land. Only Finanace Ministry has representation on the board. Will it be enough for prosecution? Very likely, I think, and Thaksin probably saw it himself.

[steveromagnino]

This case is a non-case (waste of taxpayers money). Best the courts concentrate on other cases where they have real proof of wrongdoings. If they rule against Thaksin on this one, they will only give credence to his accusations that he is being targeted for political reasons. There are other cases where his comments have no merits. Stick with those.

It is one of the clearest cases of collusion which is legally not allowed. Why is persuing this a waste of tax payer baht?

This is one of the few times I can see my hard earned tax baht at work! I say, bring it on! After all, unlike all the tax recipient rice farmers who voted for this loon, I actually pay a lot of tax to fund all the crazy schemes introduced by PPP/TRT; and I want to see JUSTICE!

[Old Man River]

There IS a merit in this case, and it's pretty straightforward - the PM or his wife cannot enter into contracts with the state, auctions or not.

The law is pretty clear on this one, it doesn't require to prove damages, it's just the principle.

If prosecutors go for damage estimation they'll have a hard time of playing "what if" scenarios and look ridiculous, true, but the principle still stands.

The defence can only argue that the PM doesn't have the direct control over the agency that sold the land. Only Finanace Ministry has representation on the board. Will it be enough for prosecution? Very likely, I think, and Thaksin probably saw it himself.

The law doesn't prohibit the PM from transactions like this. If a PM was not supposed to be involved in these transactions, the law would specifically state that no PM or PM's family should ever enter into any contract with the State. Then, there would be no doubt about culpability. However, the law doesn't read like this. To be successful in this case, the courts have to rule that the independent central bank of Thailand is really not independent at all. Does anyone really think that Pridiyathorn took his marching orders from Thaksin? Never, ever was or will that be the case. If you are unclear on this, check the KTB case against Thaksin.

On the numbers, there is a reason why people who are not friends of Thaksin have testified in court that the deal made a lot of sense for the country. These same people have testified that they would sell to Pojamon again under the same circumstances. If you go over the numbers you will understand why they made these comments.

Really, there are much better cases to make the point against Thaksin than this one.

[Old Man River]

This case is a non-case (waste of taxpayers money). Best the courts concentrate on other cases where they have real proof of wrongdoings. If they rule against Thaksin on this one, they will only give credence to his accusations that he is being targeted for political reasons. There are other cases where his comments have no merits. Stick with those.

It is one of the clearest cases of collusion which is legally not allowed. Why is persuing this a waste of tax payer baht?

This is one of the few times I can see my hard earned tax baht at work! I say, bring it on! After all, unlike all the tax recipient rice farmers who voted for this loon, I actually pay a lot of tax to fund all the crazy schemes introduced by PPP/TRT; and I want to see JUSTICE!

Steve, go through the numbers and then let's talk about it.

I want to see justice done as well. If he is guilty, then fine. However, let's make sure he is guilty before forming the lynch mob. At least on this one. On some of the others, I will lead the lynch mob.

[Plus]

It all boils down to the status of FIDF, the agency that sold the land. If the court rules it falls under "government agency" as mentioned in the law, all the numbers, good or bad, will be worthless to the case.

Prosecutors think that Thaksin-Finance Ministry-FIDF board is the clear link. Bank of Thailand's independence doesn't really matter here. But, of course, Thaskin sacked the previous governor and personally installed Pridiyathorn, apart from KTB case where Thaksin had no leg to stand on if he wanted to kick Pridiyathorn out.

[Old Man River]

It all boils down to the status of FIDF, the agency that sold the land. If the court rules it falls under "government agency" as mentioned in the law, all the numbers, good or bad, will be worthless to the case.

Prosecutors think that Thaksin-Finance Ministry-FIDF board is the clear link. Bank of Thailand's independence doesn't really matter here. But, of course, Thaskin sacked the previous governor and personally installed Pridiyathorn, apart from KTB case where Thaksin had no leg to stand on if he wanted to kick Pridiyathorn out.

Yes, best to keep away from the numbers given that the winning bid beat Noble Development's and Land and Houses' bids and was above the appraised value of the land at that time.

From the legal standpoint, a good analysis was done by Bangkok Pundit which shows nothing in this case is clear:

http://bangkokpundit.blogspot.com/2006/10/...in-trouble.html

Below is some interesting testimony, under oath, by two former PM's:

http://bangkokpundit.blogspot.com/2008/07/...an-testify.html

As for your comments on Pridiyathorn, you know better. If he was in Thaksin's back pocket the junta would never have made him Deputy Prime Minister and Finance Minister.

This case is not cut and dry and will come down to intrepretations of the codified law. To prove the wholesale corruption under Thaksin that many think occurred, resources would be much better used in cases where the facts are much more black and white (i.e. giving soft loans to buy his company's equipment, etc)

[sriracha john]

Prosecutor to Continue Ratchadapisek Land Case without Thaksin-Pojamarn

The Attorney-General of the special litigation Office investigating the Ratchadapisek land purchase involving Thaksin's wife Pojamarn states that the legal process is to continue despite Thaksin and his spouse living abroad.

The Attorney-General, Nanthasak Pulsuk, who is chairing the special litigation Office of the Supreme Court investigation into the Ratchadapisek land purchase case involving deposed Prime Minister Thaksin Shinawatra's wife Pojamarn, says the legal process will proceed even though both defendants are now in the United Kingdom.

The Supreme Court has issued arrest warrants for the deposed Premier Thaksin Shinawatra and his wife after the two failed to report to the Supreme Court's Criminal Division for Political Office Holders for their hearing yesterday.

Nanthasak states that the legal case will continue until its completion on August 22nd.

Regarding the possibility of a request to the UK Embassy for the extradition of the two, Nanthasak says it's up to the special litigation in foreign affairs. However, he states that as the legal process has not ended, the extradition request is not what the court is considering at this moment.

Nanthasak states that the Supreme Court will continue the legal process for the lawsuits on the corruption cases against Thaksin and Pojamarn under the Court's authority.

- Thailand Outlook

[sriracha john]

Just one trial

Only one of the criminal cases against former PM Thaksin Shinawatra will proceed in his absence while he is a fugitive abroad, a source at the Supreme Court said Wednesday. Under the rules governing the Supreme Court's Criminal Division for Holders of Political Positions, defendants must be present at the first hearing, where they must formally acknowledge the proceedings after hearing the court read out the charges. Of the cases against Thaksin, who on Monday skipped bail and announced he was staying in London, only the Ratchadaphisek land case will proceed, and a verdict be issued, if Thaksin does not return to Thailand, the source said. "So if he does not appear in court at the first hearing after the court accepts a lawsuit against him, that case would be suspended. The court may also issue a warrant for his arrest," said the source. Deputy Attorney-General Waiyawut Lortrakul said yesterday a planned civil lawsuit to seek the confiscation of 76 billion baht of Thaksin's assets will not be halted. The case can proceed in their absence and they can appoint lawyers to attend the trial on their behalf. Mr Waiyawut said the lawsuit will be filed as soon as it is approved by Attorney-General Chaikasem Nitisiri. The House Committee on Finance, Banking and Financial Institutes has been informed the Attorney-General is considering seizing Thaksin's assets. The only way for Thaksin to have the assets returned is to attend court.

Continued here:

http://www.bangkokpost.com/topstories/tops...s.php?id=129594

[Jai Dee]

Police circulate arrest warrants for Thaksin and Pojaman

The Royal Thai Police on Thursday started distributing two arrest warrants for former prime minister Thaksin Shinawatra and his wife Khunying Pojaman.

The warrant for Thaksin has the statue of limitations for 15 years and the one for Pojaman is enforced for 10 years.

The Supreme Court issued the warrants on Monday after Thaksin and Pojaman jumped bails and failed to report themselves on the Ratchadapisek land case.

Source: The Nation - 14 August 2008

[Old Man River]

Below is a very good summary of this case that I picked off the internet:

FIDF land purchase

In January 2007, the AEC requested that the Financial Institutions Development Fund (FIDF) file a charge against Thaksin and his wife over their 772 million baht purchase of four plots of land from the FIDF in 2003. The charge was based on an alleged violation of Article 100 of the National Counter Corruption Act, which specified that government officials and their spouses were prohibited from entering into or having interests in contracts made with state agencies under their authorisation. Article 4 of the Act stated that wrongdoers must be direct supervisors of the damaged party - in this case, the FIDF. However, the FIDF is a financial institution under the direct supervison of the Bank of Thailand, which at the time of the transaction Pridiyathorn Devakula was Governor.

Pridiyathorn Devakula defended the FIDF transaction, saying that it was transparent. Chanchai Boonritchaisri, a senior director of the central bank's Legal and Litigation Department, also claimed that the FIDF did not view itself as the damaged party, as the land was sold to the Shinawatras at a price higher than its then appraised value (about 700 million baht). The FIDF originally purchased the land from the bankrupt Erawan Trust in 1995 for 2.14 billion; Erawan Trust had seized the land from a defunct borrower for only 103 million baht.

[sriracha john]

Police circulate arrest warrants for Thaksin and Pojaman

The Royal Thai Police on Thursday started distributing two arrest warrants for former prime minister Thaksin Shinawatra and his wife Pojaman.

The warrant for Thaksin has the statue of limitations for 15 years and the one for Pojaman is enforced for 10 years.

The Supreme Court issued the warrants on Monday after Thaksin and Pojaman jumped bails and failed to report themselves on the Ratchadapisek land case.

Source: The Nation - 14 August 2008

WANTED: FOR BAIL-JUMPING AND TAX EVASION

Edited August 14, 2008 by sriracha john

[JetsetBkk]

...the land was sold to the Shinawatras at a price higher than its then appraised value (about 700 million baht). The FIDF originally purchased the land from the bankrupt Erawan Trust in 1995 for 2.14 billion; Erawan Trust had seized the land from a defunct borrower for only 103 million baht.

So,

1. Why did the FIDF pay Erawan so much for it......... 103 mill --> 2.14 bill

2. Why did Toxin get it so much cheaper................... 2.14 bill --> 700+ mill

Edited August 14, 2008 by JetsetBkk

[Old Man River]

...the land was sold to the Shinawatras at a price higher than its then appraised value (about 700 million baht). The FIDF originally purchased the land from the bankrupt Erawan Trust in 1995 for 2.14 billion; Erawan Trust had seized the land from a defunct borrower for only 103 million baht.

So,

1. Why did the FIDF pay Erawan so much for it......... 103 mill --> 2.14 bill

2. Why did Toxin get it so much cheaper................... 2.14 bill --> 700+ mill

The first question is difficult to answer. Testimony was given at the trial concerning this, but since it has nothing to do with Thaksin, it wasn't pursued.

The second question is very easy to answer. The tract of land was purchased by the FIDF from Erawan Trust in 1995, at the top of the market (before the bubble burst). At that time, the FIDF had it appraised for THB 2.14 billion. In 1997, the bubble burst and the value of raw land tracts such as this one plummeted in value.

In 2002, still nobody was interested, so the FIDF had it reappraised and the value was put at THB 870 million, but still no buyers in sight. In 2003, as was normal for the FIDF, this property was put out to auction. At that time, the property was reappraised, and was valued in the low THB 700 million range. Now, at this price people were interested. There were three bidders, Noble Development, Land & Houses and a company controlled by Pojamon. Pojamon had the highest bid at THB 772 million, hence, the FIDF sold it to her for this amount. Testimony by those that controlled the FIDF (not Thaksin's friends) have said if they had to do it all over again, they would sell it to her again. This was the best offer they had.

[sriracha john]

Thai court denies Thaksin bid to stop graft trial

BANGKOK, Aug 15 (Reuters) - Thailand's Supreme Court denied a request on Friday by the lawyers of former Prime Minister Thaksin Shinawatra to have a corruption case against him and his wife suspended after they skipped bail and went into exile.

Lawyers for the couple, who are now subject to an arrest warrant after failing to appear in court on Monday, argued the case should be dropped since they were no longer in the country -- a line that cut little ice with the presiding judge.

"Even in their absence, the court believes it has authority to proceed with the case," the judge told the court.

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

Supreme Court Turns down Request to Postpone Ratchadapisek Land Case

The Supreme Court has denied the request from former Prime Minister Thaksin Shinawatra's lawyers to temporarily suspend the trial for the Ratchadapisek land case after both key defendants have skipped bail and sought exile in England.

Thailand's Supreme Court's section for political office holders today rejected the request from the lawyer team of the former premier to put off the Ratchadapisek land trial because Thaksin and Pojamarn Shinawatra, who are the key defendants in the case, are not in the country.

The court also turned down another request to let the lawyers be removed from the case because such an attempt appeared to be aimed at derailing the investigation process.

In addition, it denied an appeal to remove former Deputy Finance Minister Varathep Rattanakorn from the witness list.

Meanwhile, the court continued its hearing into the Ratchadapisek land scandal, with the testimonies of five officials from the Department of City Planning, the Department of Legal Execution, and the Office of the Auditor-General.

The court has scheduled the next hearing for August 19 and 22.

And, Kamnuan Chalopathum, who represents Thaksin, said that he had spoken with the exiled former premier yesterday for the first time since an arrest warrant was issued for him. Thaksin reportedly thanked Kamnuan for continuing his work on the case on his behalf.

Kamnuan added that he did not discuss the arrest warrant with his client or the widespread criticisms that were said to have defamed the ex-Prime Minister greatly.

- Thailand Outlook / 15 August 2008

[sriracha john]

Well, she, and he, by proxy, would know...

The illuminating, vivacious, and ever-lovely Mrs. Somchai (aka Somchai's wife and Thaksin's sister, Yaowapa) *btw, she's also a People Power Party MP*

Deputy Prime Minister Somchai: Thaksin, wife will return to fight charges

Deputy Prime Minister and Education Minister Somchai Wongsawat insisted deposed premier Thaksin Shinawatra and his spouse Potjaman are not seeking political asylum, and they will return to fight their charges in Thailand. Somchai said Doctor Police Lieutenant Colonel Thaksin will appear before the court on August 11, following the court’s approval for him to travel abroad. He said the ousted PM has always followed the court’s orders. The court earlier found Potjaman together with her brother Bannapot Damapong, and her secretary Karnchanapa Honghern guilty of conspiring to evade tax worth 546 Million Baht on the transfer of shares in Shinawatra Computer and Communication. However, Potjaman still has confidence in the Thai justice system, according to

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=129397

=...t&p=2131877[/url]

From making bogus statements like he was a personal spokesman for Thaksin ..... to... Thaksin Who???

In terms of the recent action of former Prime Minister Thaksin Shinawatra’s refusal to return to Thailand and appeal for political asylum in the United Kingdom, Mr. Somchai viewed that it was the former premier’s decision and responsibility. He denied contacting to the former prime minister after the incident.

- ThaiNews / 081508

[sriracha john]

Focus on Thaksin lawyers this week

Attention tomorrow will be on whether Thaksin Shinawatra and wife Pojaman's lawyers present witnesses in the Ratchadaphisek land case.

Last week lawyers Kamnuan Chalopatham and Anek Khamchum sought court permission to withdraw from the case. The court refused.

The lawyers then refused to present witnesses.

The move is seen as a ploy to make the hearing appear unfair.

The last hearing day for the case has been set for Friday.

- The Nation / Aug. 18, 2008

[younghusband]

...the land was sold to the Shinawatras at a price higher than its then appraised value (about 700 million baht). The FIDF originally purchased the land from the bankrupt Erawan Trust in 1995 for 2.14 billion; Erawan Trust had seized the land from a defunct borrower for only 103 million baht.

So,

1. Why did the FIDF pay Erawan so much for it......... 103 mill --> 2.14 bill

2. Why did Toxin get it so much cheaper................... 2.14 bill --> 700+ mill

The first question is difficult to answer. Testimony was given at the trial concerning this, but since it has nothing to do with Thaksin, it wasn't pursued.

The second question is very easy to answer. The tract of land was purchased by the FIDF from Erawan Trust in 1995, at the top of the market (before the bubble burst). At that time, the FIDF had it appraised for THB 2.14 billion. In 1997, the bubble burst and the value of raw land tracts such as this one plummeted in value.

In 2002, still nobody was interested, so the FIDF had it reappraised and the value was put at THB 870 million, but still no buyers in sight. In 2003, as was normal for the FIDF, this property was put out to auction. At that time, the property was reappraised, and was valued in the low THB 700 million range. Now, at this price people were interested. There were three bidders, Noble Development, Land & Houses and a company controlled by Pojamon. Pojamon had the highest bid at THB 772 million, hence, the FIDF sold it to her for this amount. Testimony by those that controlled the FIDF (not Thaksin's friends) have said if they had to do it all over again, they would sell it to her again. This was the best offer they had.

Steady on.I think you may have ruffled a few feathers by calmly stating one or two salient facts.

[Plus]

Obviously this is not how the prosecution sees things, but that's not really the problem - the law clearly forbids the PM or his family to enter into any transactions with the state. There are no modalities.

The question of lost money was raised when FIDF didn't want to lodge the case with AEC - they had no plaintiff.

I can't say which way the verdict would go, if Thaksin is found guilty, the alleged damage might influence only the weight of the sentence, but who really cares if it's two years or six months - a conviction is a conviction. He wouldn't have bolted if it mattered a lot.

[Old Man River]

...the land was sold to the Shinawatras at a price higher than its then appraised value (about 700 million baht). The FIDF originally purchased the land from the bankrupt Erawan Trust in 1995 for 2.14 billion; Erawan Trust had seized the land from a defunct borrower for only 103 million baht.

So,

1. Why did the FIDF pay Erawan so much for it......... 103 mill --> 2.14 bill

2. Why did Toxin get it so much cheaper................... 2.14 bill --> 700+ mill

The first question is difficult to answer. Testimony was given at the trial concerning this, but since it has nothing to do with Thaksin, it wasn't pursued.

The second question is very easy to answer. The tract of land was purchased by the FIDF from Erawan Trust in 1995, at the top of the market (before the bubble burst). At that time, the FIDF had it appraised for THB 2.14 billion. In 1997, the bubble burst and the value of raw land tracts such as this one plummeted in value.

In 2002, still nobody was interested, so the FIDF had it reappraised and the value was put at THB 870 million, but still no buyers in sight. In 2003, as was normal for the FIDF, this property was put out to auction. At that time, the property was reappraised, and was valued in the low THB 700 million range. Now, at this price people were interested. There were three bidders, Noble Development, Land & Houses and a company controlled by Pojamon. Pojamon had the highest bid at THB 772 million, hence, the FIDF sold it to her for this amount. Testimony by those that controlled the FIDF (not Thaksin's friends) have said if they had to do it all over again, they would sell it to her again. This was the best offer they had.

Steady on.I think you may have ruffled a few feathers by calmly stating one or two salient facts.

These salient facts have been testified to in court and are in print. If this is surprising to some then they haven't been following this case.

[Old Man River]

Obviously this is not how the prosecution sees things, but that's not really the problem - the law clearly forbids the PM or his family to enter into any transactions with the state. There are no modalities.

The question of lost money was raised when FIDF didn't want to lodge the case with AEC - they had no plaintiff.

On lost money, that is correct. As reported "Chanchai Boonritchaisri, a senior director of the central bank's Legal and Litigation Department, also claimed that the FIDF did not view itself as the damaged party, as the land was sold to the Shinawatras at a price higher than its then appraised value (about 700 million baht)."

This issue is a legal one. I have already attached this once, but for discussion purposes, please see the analysis done by Bangkok Pundit on this:

http://bangkokpundit.blogspot.com/2006/10/...in-trouble.html

Plus, here is the problem I have with this case. It doesn't appear to be black and white (unless you can show me where it is). Given all the crap that Thaksin was guilty of, no case should end up coming down to an interpretation of the law. His guilt should be black and white and out there for all to see and understand, and so far I don't see where this case does that. Better, they rule him innocent here, as it would cut him off at the knees when he again screams about not being able to get a fair trial. Then, nail him for all the rest.

[Plus]

It doesn't appear black and white only because of the status of FIDF. It was meant to be independent, so the defence can claim that it's not a state agency.

Finance Ministry has representation on the board, though.

The case was dead until some kind soul faxed a copy of Thaksin signed approval for his wide to buy the land - until then it was the case of "not my business, she did it herself". Since then the defence strategy has changed. Now it's - "no harm was done".

We don't need to wait for too long.

[Old Man River]

It doesn't appear black and white only because of the status of FIDF. It was meant to be independent, so the defence can claim that it's not a state agency.

Finance Ministry has representation on the board, though.

The case was dead until some kind soul faxed a copy of Thaksin signed approval for his wide to buy the land - until then it was the case of "not my business, she did it herself". Since then the defence strategy has changed. Now it's - "no harm was done".

We don't need to wait for too long.

I would have thought the waiving of height restriction requirements on improvements immediately after the purchase (raising its value) would be more a sign of using political influence than anything else.