Down To His Last $500 Million?

[krystian]

Oh pity Mr T,, he's down to his last 500Mil$,, Some people dont even have 50 baht for crying out loud!!!!

[Loaded]

The story I heard a long time ago about the cash behind the Man City sale was that it was originally middle-eastern money. Thaksin sold to middle-eastern 'investors' with a mark up of around 300% after just a few months of ownership! I suspect the original money used to buy control of the club was middle-eastern and Thaksin was a front. The selling of the club by Thaksin to the middle-eastern 'investors' was a personal electronic transaction between buyer and seller. IE no money changed hands and difficult to trace the source and destination of the money but the middle-eastern 'investors' would now have an asset valued at 200 million pounds that they only paid 70 million pounds for. This obviously has big tax benefits (depreciations and allowances) for them plus an asset that has a market value greatly in excess of the cash they paid for it. All speculation but it makes sense to me.

Edited December 28, 2008 by Loaded

[animatic]

All this hidden lucre coming to light in Switzerland, UK and elsewhere vindicates what I suspected during his tenure as MCFC tenure that he didn't want to spend any of his ill gotten gains on buying new players or even paying proper wages as it would flag to authorities where his money was, when he had been claiming all along that it was all in Thailand frozen for the home crowd to give him sympathy. His constant web of lies and deceit worked too, proven by the lingering sympathy for this crook on this site and across the villages of Northern and Northeastern Thailand, but eventually it will catch up with him and now would be a good time to expose just how many millions he stole and squirrelled away from the country he claimed he loved so much. Especially the poor voters and Koos of the nation, eh?

Anyway, the infatuation will continue I'm sure until he finally gets his just desserts. Let's hope it is at the hands of the criminal justice system in UK or some other foreign nation where money buys you relatively few favours once in the slammer, for total poetic justice to this scumbag. What's the going sentence for money laundering of millions?

I suspect that upcountry they will only believe he is bent

when another nation tries and convictions him of undeclared wealth

and money laundering to use it.

Some NEVER will, they will say Abhisit's friends in UK

rigged something to help the Democrats here...

If his forutne is in Thailand and he has never sent money abroad,

or not declared earnings from abroad,

where the hel_l did the P_CFC purchase dosh come from??

Loaded's theory above posted while I typed has logic to it.

But also for shits and giggles lets conjecturally say he had a nice pile in Dubai and environs,

and when he sold the club to his friends there, they sent a big pile of HIS OWN MONEY

to launder it in one big swoop. And his quid pro quo to them was they get the club as a good deal.

No coincidentally it makes him look like a real player and legitimizes a source of cash.

Of course some one MAY have been looking at his transaction leading UP TO buying the FC.

Gee, his money's 'frozen' and he is on the run, where DOES this pile come from?

I suspect buying MCFC was Thaksin's international Waterloo.

He left an inevitable, multi-forked, paper trail and one Inland Revenue and MI5 / MI6

might have found quite interesting to trace, that in conjunction with his efforts via media

and British telecom phones, to destabilize another constitutional monarchy, from brititsh soil.

Oh yes there is much more 'burning matter' behind this giant smoke cloud.

Edited December 28, 2008 by animatic

[Samuian]

where the hel_l did the P_CFC purchase dosh come from??

Loaded's theory above posted while I typed has logic to it.

But also for shits and giggles lets conjecturally say he had a nice pile in Dubai and environs,

and when he sold the club to his friends there, they sent a big pile of HIS OWN MONEY

to launder it in one big swoop. And his quid pro quo to them was they get the club as a good deal.

No coincidentally it makes him look like a real player and legitimizes a source of cash.

Of course some one MAY have been looking at his transaction leading UP TO buying the FC.

Gee, his money's 'frozen' and he is on the run, where DOES this pile come from?

I suspect buying MCFC was Thaksin's international Waterloo.

He left an inevitable, multi-forked, paper trail and one Inland Revenue and MI5 / MI6

might have found quite interesting to trace, that in conjunction with his efforts via media

and British telecom phones, to destabilize another constitutional monarchy, from brititsh soil.

Oh yes there is much more 'burning matter' behind this giant smoke cloud.

Agreed, think so too!

As he is supposedly, friend with Al Fayette, owner of harrods, who sold him the place in kensigton, he will very well have good connections and this is a easy way to launder money!

Plus this sort of action caries very much his signature!

As there are how many off shore companies like ample rich?

his brothers and sisters and other relatives, daughter and his son are holding how many billions in their accounts?

just a thought...or 2.... this guy raked it in, diguised his action with "i love my country" soap opera and with his mr.clean stunt, big times!

this guys ruth-and wreck lessness to deceit the people is simply breathtaking!

is it this why he studied criminology?

Edited December 28, 2008 by Samuian

[Plus]

From what I remember about ManCity funds, he personally put in very little, the rest was coming from all over the place via his dummy company with his kids and relatives in charge. It fits with Thanong's story of consolidating his funds from a couple of dozen of Ample Rich like companies, but there was also something about ME partners, too.

Who got the 200mil pounds from the sale? Have no idea, but it looks like the proceeds were invested in Dubai, real estate and oil, and it all gone sour with oil prices dropping like a brick. Perhaps that was the part of the deal - money stays in UAE.

This version also comes from Thanong, he mentioned Thaksin losing from oil investment long time ago, now he added some condo project as well.

The UK's alleged investigation must be centered on the sources for the original purchase, however, and if they found some Middle Eastern interests behind it from the start, they'd probably want to know all of it in great detail. Not enough to "freeze" the accounts but enought to keep a watchful eye on them until the matter is cleared. At this stage of investigations they won't release any official comments if they are smart.

[yumidesign]

Earlier, Arabian-business.com (see the link www.arabianbusiness.com/539714-catch-me-if-you-can) reported that the UK has frozen $4 billion of Thaksin's assets. "The UK froze his reputed $4bn of assets, forcing him to sell Manchester City to Abu Dhabi's Sheikh Mansour. To add to his troubles, his UK visa was revoked - oh, and his wife divorced him last week," the Arabianbusiness report said.

Yet so far nobody has come out to confirm or deny this report.

Lazy reporting. Why didn't the writer contact Arabian-business.com? Bangkok Pundit did and the Website apologised for their error as the British authorities had cancelled the visa but hadn't frozen his assets. This story is a load of rubbish.

"US$500 million," said the international financier, who asked not to be name"

yep. very unreliable reporting may be the Nation is really published by Mills and Boon

[Siripon]

In an interview with 'The Eastern CEO' magazine Thaksin admitted that the UK government had frozen over 4,000 million dollars or 140,000 million baht of his assets.

[Ricardo]

In an interview with 'The Eastern CEO' magazine Thaksin admitted that the UK government had frozen over 4,000 million dollars or 140,000 million baht of his assets.

Ouch, that's got to hurt, if true ? But is it ??

Firstly I would wonder whether DL has that much, plus the frozen funds in Thailand, and if he does, what might possibly be the source of all that money ... triple the proceeds from the Shin Corp sale ?

Secondly the UK government would only have been in the position, to freeze such a large sum, if he had taken it all into the UK ? Why would he ever have taken so much money with him, when he only wanted to buy a couple of homes, and a football-club costing less than a hundred million pounds ? Knowing that for anti-moneylaundering reasons, he would have to provide a fairly detailed explanation of its origins to the authorities, when the money arrived there. Surely he would have left most of his funds somewhere offshore ?

Lastly wasn't 80% of his money supposed to have been in his former-wife's name, wouldn't she have expected to get a share of this vast new undisclosed sum, as part of the divorce-settlement ?

So I suspect that he may have been exaggerating a little, when he was being interviewed, unless there remains a much bigger story yet to be told, about the size & origins of his wealth.

[Journalist]

Arabs mentioned 4 bil freeze, Thanong talks about 4.2 bil and gives sources for 2 bil out of that, the rest is "debt", in his words.

Precisely, ....since when have one's debts been part of one's assets?

If I meet Thaksin, I'll ask him what he's worth.

[Meerkat]

In an interview with 'The Eastern CEO' magazine Thaksin admitted that the UK government had frozen over 4,000 million dollars or 140,000 million baht of his assets.

CEO ME magazine is part of the same ITP group as the Arabian Business magazine that has been quoted here already. If you go to ITP's catalogue here, it shows CEO ME's website as the same, and a search for Thaksin interview still only shows Bhoyrul's article with the $4bn frozen claim, that the journalist (anyone who knows Bhoyrul's history might surmise that "journalist" is perhaps lavishing too much praise on him) has since admitted was made up.

So basically the entire "down to his last half-a-bar" Nation piece comes down to a quote which has since been discredited, and anonymous "international financiers" who incredibly claim to have a pretty intimate knowledge of Thaksin's portfolio (I'll put 50 satang on Korn ). Add to that Thaksin's propensity for spinning/lying anyway as shown in the Swiss bank freeze saga, and the shining light of truth is still far from visible.

Lke so much we read both here on TV and in the likes of the Nation, that which is verifiable is disproven, and the rest is impossible to verify. Still, there are many who are happy to lap up supposition as fact if it suits them.

[samgrowth]

BuIIshit. 4 billion USD? I don't think he is that rich.

[Samuian]

........ Knowing that for anti-moneylaundering reasons, he would have to provide a fairly detailed explanation of its origins to the authorities, when the money arrived there. ...........

Well, what amount ever, what the full story ever, an alter ego like him would believe he, as of the sheer amount of the money .... he would believe nobody will question "Uncle Takky the Conqueror"!

Where is smoke, there is fire....remember?

Edited January 5, 2009 by Samuian

[Koo82]

Khun Thaksin was done years ago.

Why do we still talk about him?

[samgrowth]

Khun Thaksin was done years ago.

Why do we still talk about him?

Because his re-incarnations are still on its way. Remember Samak, Somchai, etc.

The say " Cats have 9 life" is true. Thaksin nickname is Meaw, which means Cat.

Edited January 8, 2009 by samgrowth

[Heng]

Thaksin nickname is Meaw, which means Cat.

Not quite. But still pretty funny.

[Plus]

His name means "hill" in the northern dialect and it sounds different from Thai word for "cat".

Same confusion as with Thaksin/King Taksin.

[tig28]

The story I heard a long time ago about the cash behind the Man City sale was that it was originally middle-eastern money. Thaksin sold to middle-eastern 'investors' with a mark up of around 300% after just a few months of ownership! I suspect the original money used to buy control of the club was middle-eastern and Thaksin was a front. The selling of the club by Thaksin to the middle-eastern 'investors' was a personal electronic transaction between buyer and seller. IE no money changed hands and difficult to trace the source and destination of the money but the middle-eastern 'investors' would now have an asset valued at 200 million pounds that they only paid 70 million pounds for. This obviously has big tax benefits (depreciations and allowances) for them plus an asset that has a market value greatly in excess of the cash they paid for it. All speculation but it makes sense to me.

Thaksin doubled his money in City sale, claim sources

guardian.co.uk, Wednesday 8 October 2008 00.01 BST

The outgoing Manchester City owner Thaksin Shinawatra doubled his money in just over a year by making a £20m profit when he sold the club to Sheikh Mansour of Abu Dhabi, according to well-placed sources.

It is understood that the final price paid to Thaksin remained close to the £210m originally stated by Amanda Staveley of PCP, who acted as an adviser on the deal. It has not been disclosed how that figure broke down in terms of payments to Thaksin and the club's debts taken over by Sheikh Mansour, but a source confirmed the profit to Thaksin was close to £20m. That represents an almost doubling of Thaksin's money — he paid £21.6m to buy City in June 2007. The money for the shares leaves around £170m paid by Sheikh Mansour to take over City's debts.

Documents filed at Companies House just before Sheikh Mansour's takeover suggest that Thaksin's investment in the club was greater than has been suggested, at £45.3m. When he bought the club, Thaksin paid the previous major shareholders, John Wardle and David Makin, £17.5m to take over their loans, which at the time amounted to over £23m. That suggests that Thaksin loaned the club a further £22m following his takeover, when players including Elano, Vedran Corluka and Martin Petrov were signed within days.

Thaksin admitted this summer, however, that he was unable to fund the club further as £800m of his assets remained frozen in his native Thailand and criminal proceedings were continuing against him there. After Thaksin and his wife, Pojaman, skipped bail in Thailand on August 11, City's executive chairman, Garry Cook, acknowledged Thaksin was no longer funding the club and City borrowed £25m from Standard Bank. Added to the £45.3m loaned by Thaksin, £41m City owed in loan notes and a further £42.4m accounted for in future stadium rent to Manchester City Council, City's borrowings were around £154m. As Sheikh Mansour paid £170m to take on the debts, that indicates that City had further borrowings of around £16m.