Thaksin To Face New Corruption Charge Over Improper Bank Loans

[sriracha john]

Thaksin to face fresh charge

The National Anti-Corruption Commission (NACC) planned to file a new corruption criminal charge against fugitive deposed PM Thaksin Shinawatra, accusing him of damaging the economic system by allowing Krung Thai Bank Public Company Limited to issue large amount of credits when he was a premier, NACC member Klanarong Chantik said on Wednesday. The charge was filed to the Attorney-General before it will be forwarded to the Supreme Court's Criminal Division for Holders of Political Positions for deliberation, he said. Previously, the now-defunct Assets Scrutiny Committee (ASC) submitted the case to the Attorney-General, but the information were deemed inadequate. A committee was then set up on July 29, 2008 to gather further evidence. The information are now complete, according to

Continued here:

http://www.bangkokpost.com/breakingnews/13...ce-fresh-charge

[ThNiner]

Oh no...Thaksin is getting unfairly attacked by the justice system again.

[Old Man River]

I am really very surprised that this isn't in the Thailand News Clipping section, but I guess new legal cases against the former PM aren't newsworthy these days. In any event, the link below is to a more informative article on this case:

http://www.nationmultimedia.com/specials/c...owcase.php?id=8

[sriracha john]

I am really very surprised that this isn't in the Thailand News Clipping section, but I guess new legal cases against the former PM aren't newsworthy these days. In any event, the link below is to a more informative article on this case:

http://www.nationmultimedia.com/specials/c...owcase.php?id=8

Thank you very much for that link.

In the interest of completeness on the thread, I'm posting the text contained within it... (as well as asking mods to move the thread):

Krung Thai Bank Loan

2008

April 5: AEC subcommittee looking into Krung Thai Bank's loans would be able to use the complaint lodged by the Bank of Thailand with the police last year against KTB executives.

KTB last week lodged a formal complaint with AEC over the loans case, as requested, but it was incomplete because it incriminated only Thaksin, not its own executives and officials.

March 12: AEC ruled to appoint an investigative panel to probe Thaksin Shinawatra, his wife, his son, and Krung Thai Bank officials over loans extended to the Krisada Mahanakorn Group.

The AEC subcommittee has said 32 people and five companies were involved in the loans which were alleged to to have cost the state up to 4.5 Billion Baht.

March 6: The AEC agreed to a suggestion by its subcommittee to incriminate seven politicians, eight Krung Thai Bank officials, four executives and five companies and their management for alleged involvement in the loan scandal.

Sak said damages caused by extending the KTB loan to the Krisada Mahanakorn group was estimated at 4.5 Billion Baht.

A Krung Thai Bank witness has testified to the subcommittee, incriminating Thaksin, his wife Pojaman Shinawatra, and their son Panthongtae Shinawatra for ordering the bank to approve the loan.

The panel found that some part of the loan extended to the group was paid as cheques in the name of Panthongtae and Manop, executives of How Come Entertainment, run by Panthongtae, and the mother of Kanchana Honghern, personal secretary to Pojaman.

Background:

The case has been under the spotlight since last year when the Bank of Thailand filed a complaint with the police charging executives and officials of Krung Thai Bank with improperly granting a 9.9 Billion Baht loan to Golden Technology Industry Park Co, an affiliate of Krissada Mahanakorn Co.

The BOT alleged improper use of about 4.5 Billion Baht of the loan. Krung Thai Bank allegedly extended the loan by taking highly inflated collateral security.

Investigators have traced financial transactions of the loan and are trying to find out if there were other recipients and how the money was transferred. The findings will facilitate an inspection of share transfers by Krissada Mahanakorn. The team wants to find out who benefited from the transfers.

Three loan extensions were involved in the case:

1. A loan of 500 Million Baht extended to RK Professional on September 11, 2003.

2. A loan of 9.9 Billion Baht extended to Golden Technology Industrial Park on Sept 11, 2003. The company originally sought a 14 Billion Baht loan from Bangkok Bank for the real estate project placing a land with appraisal value at 4.5 Billion Baht as collateral. Later it redeemed the land and placed the same plot as collateral with Krung Thai Bank and received a 14 Billion Baht loan extension.

Key suspects and the charges:

1. Politicians and their family: Thaksin Shinawatra, Pojaman Shinawatra, Panthongtae Shinawatra, Manop Divari, who is the father of Sitha Divari, former Thai Rak Thai Party Spokesman.

2. Krung Thai Bank executives: Suchai Jaovisidha, a younger brother of former Finance Minister Suchart Jaovisidha, Viroj Nualkhair, former Krung Thai Bank Board Director.

3. A total of 118.5 million preferred shares worth 1.1 Billion Baht, issued by Krisada Mahanakorn, bought by Krung Thai Bank saw a drop in value to zero due to irregularities in the acquisition process.

Key evidence:

A Krung Thai Bank witness has testified to the AEC subcommittee, incriminating Thaksin, his wife Pojaman Shinawatra, and their son Panthongtae Shinawatra for ordering the bank to approve the loan.

- The Nation

Edited February 18, 2009 by sriracha john

[mc2]

what a waste of taxpayers money.

the thai injustice system strikes again !

[Bangyai]

Key suspects and the charges:

2. Krung Thai Bank executives: Suchai Jaovisidha, a younger brother of former Finance Minister Suchart Jaovisidha, Viroj Nualkhair, former Krung Thai Bank Board Director.

Ah yes, Viroj Nualkhair. Now this bloke used to be Sondhi Limongkuls banker. When old Thaky came to power he and Sondhi were still chummy and it wasn't long before Viroj Nualkhair was made head honcho of the Krung Thai Bank.

And then.....came the Asian crash and poor little Sondhi lost his shirt in the Lao Star affair. So off he goes to Thaky, cap in hand, asking for help to relieve his debt to the Krung Thai bank of 1.8 billion baht. Thaky does his best and Virot waves I.6 billion of debt off to help out poor old Sondhi, leaving him a mere 200,000,000 baht in a hole.

Sondhi is not satisfied and the rest is history.

So, if this goes to court will all this be mentioned ??? If the state has lost out 4.5 billion they might try getting the 1.6 billion that Sondhi owes them then they will only have a defecit of 2.9 to make up.

[sriracha john]

Thaksin to be indicted on bank fraud

The Office of the Attorney-General will soon indict Thaksin Shinawatra for alleged corruption in a case related to a 9.9 Billion Baht loan Krung Thai Bank granted to companies affiliated to the Krisada Mahanakhon group. The indictment is in the pipeline as a joint working team of the National Anti-Corruption Commission (NACC) and the OAG recently completed revising an investigation report into the case prepared by the now-defunct Assets Scrutiny Committee (ASC), according to NACC member Klanarong Chantik. Mr Klanarong said the joint working team has already forwarded the investigation report to the OAG's public prosecutors who will bring the case for indictment in the Supreme Court's Criminal Division for Political Office Holders.

The ASC has accused Thaksin and his son Panthongtae of being involved in irregularities related to Krung Thai Bank's 9.9 Billion Baht loan to

Continued here:

http://www.bangkokpost.com/breakingnews/13...d-on-bank-fraud

[sriracha john]

The implications of these charges is that Pokemon and Thaksin are both in Thailand and not on the run...and hence be able to be presented to the courts and have the case move forward, unlike the Absent Thaksin who can delay the case simply but not making the necessary initial appearance...

Little Sonny Boy might be looking at some serious amounts of a time-out from his playpen.

9 Billion Baht Bank Fraud.... well done, Oak...

[Sandstone Art]

Coming up next will be a 'Family change of luck' charms ceremony soon!

[jdinasia]

Key suspects and the charges:

2. Krung Thai Bank executives: Suchai Jaovisidha, a younger brother of former Finance Minister Suchart Jaovisidha, Viroj Nualkhair, former Krung Thai Bank Board Director.

Ah yes, Viroj Nualkhair. Now this bloke used to be Sondhi Limongkuls banker. When old Thaky came to power he and Sondhi were still chummy and it wasn't long before Viroj Nualkhair was made head honcho of the Krung Thai Bank.

And then.....came the Asian crash and poor little Sondhi lost his shirt in the Lao Star affair. So off he goes to Thaky, cap in hand, asking for help to relieve his debt to the Krung Thai bank of 1.8 billion baht. Thaky does his best and Virot waves I.6 billion of debt off to help out poor old Sondhi, leaving him a mere 200,000,000 baht in a hole.

Sondhi is not satisfied and the rest is history.

So, if this goes to court will all this be mentioned ??? If the state has lost out 4.5 billion they might try getting the 1.6 billion that Sondhi owes them then they will only have a defecit of 2.9 to make up.

You mean Thaksin should be up on charges for that case too? (I doubt they will be charging the people that got the loans -- or a charge-off --- unless they also committed fraud)

[sriracha john]

Key evidence:

A Krung Thai Bank witness has testified to the AEC subcommittee, incriminating Thaksin, his wife Pojaman Shinawatra, and their son Panthongtae Shinawatra for ordering the bank to approve the loan.

Lest we forget what happened to the last person to serve as a witness against the Shinawatra's....

Kornthep Wiriya, a key prosecution witness in the Shin Satellite tax-evasion case, was gunned down in Chiang Rai.

Shin Satellite and sister company CS Communications were accused of evading 100 Million Baht in tax. Ousted prime minister Thaksin Shinawatra, whose family owned a major stake in Shin Satellite

from the the thread:

http://www.thaivisa.com/forum/Democrats-Sh...26#entry2524626

Democrats Want 'Shin Murder' Investigated

[Ricardo]

March 6: The AEC agreed to a suggestion by its subcommittee to incriminate seven politicians, eight Krung Thai Bank officials, four executives and five companies and their management for alleged involvement in the loan scandal.

Sak said damages caused by extending the KTB loan to the Krisada Mahanakorn group was estimated at 4.5 Billion Baht.

A Krung Thai Bank witness has testified to the subcommittee, incriminating Thaksin, his wife Pojaman Shinawatra, and their son Panthongtae Shinawatra for ordering the bank to approve the loan.

The panel found that some part of the loan extended to the group was paid as cheques in the name of Panthongtae and Manop, executives of How Come Entertainment, run by Panthongtae, and the mother of Kanchana Honghern, personal secretary to Pojaman.

- The Nation

So a case against 19 people, and 5 companies involving 4.5 billion Baht ought to be forgotton ...

what a waste of taxpayers money.

the thai injustice system strikes again !

... because one of the accused happens to be an ex-PM, from 3-4 years ago, who is already a convicted-criminal on-the-run overseas ? Or because some of his co-accused happen to be poo-yais, from an important & rich family, perhaps ? Now that would be an injustice !

[goonerthegooner]

''' Love it ''' ,the case against Taksin,and his mob go on,and on and on

I would of thought by now he knows he doe's not have a hope in hel_l of coming back too face EVEN more charges

Som-Num-Nah

[Old Man River]

Key suspects and the charges:

2. Krung Thai Bank executives: Suchai Jaovisidha, a younger brother of former Finance Minister Suchart Jaovisidha, Viroj Nualkhair, former Krung Thai Bank Board Director.

Ah yes, Viroj Nualkhair. Now this bloke used to be Sondhi Limongkuls banker. When old Thaky came to power he and Sondhi were still chummy and it wasn't long before Viroj Nualkhair was made head honcho of the Krung Thai Bank.

And then.....came the Asian crash and poor little Sondhi lost his shirt in the Lao Star affair. So off he goes to Thaky, cap in hand, asking for help to relieve his debt to the Krung Thai bank of 1.8 billion baht. Thaky does his best and Virot waves I.6 billion of debt off to help out poor old Sondhi, leaving him a mere 200,000,000 baht in a hole.

Sondhi is not satisfied and the rest is history.

So, if this goes to court will all this be mentioned ??? If the state has lost out 4.5 billion they might try getting the 1.6 billion that Sondhi owes them then they will only have a defecit of 2.9 to make up.

There is a little more to this story in that following the revelations that Viroj was involved as Head of KTB in giving out questionable loans, MR Pridiyathorn, then BOT Governor, wanted Viroj removed. Of course, the former PM didn't want a key guy removed from such a useful position and Thaksin and MR Pridiyathorn went head to head on this. While many thought that MR Pridiyathorn was seeing his last days as BOT Governor, he somehow backed Thaksin down and Viroj was removed. The talk was that the international financial community had faith in MR Pridiyathorn as an independent BOT Governor and wouldn't accept a Thaksin nominee in this important position. In any event, there was no legal case until after the military coup had moved Thaksin out of power.

I have thought all along that this would be the case where the authorities would have the best chance of unequivocally nailing Thaksin and those close to him, as following the money is a lot easier than making decisions on inuendos and interpretations.

[Journalist]

Thaksin to face fresh charge

The National Anti-Corruption Commission (NACC) planned to file a new corruption criminal charge against fugitive deposed PM Thaksin Shinawatra, accusing him of damaging the economic system by allowing Krung Thai Bank Public Company Limited to issue large amount of credits when he was a premier, NACC member Klanarong Chantik said on Wednesday. The charge was filed to the Attorney-General before it will be forwarded to the Supreme Court's Criminal Division for Holders of Political Positions for deliberation, he said. Previously, the now-defunct Assets Scrutiny Committee (ASC) submitted the case to the Attorney-General, but the information were deemed inadequate. A committee was then set up on July 29, 2008 to gather further evidence. The information are now complete, according to

Continued here:

http://www.bangkokpost.com/breakingnews/13...ce-fresh-charge

Continued by a further....two words.

Trying to be cute with Bangkok Post, eh?

Anyway, this is an interesting case. Especially if there is any hard evidence. Usually coercion for loans is done by telephone, and the person asking for the help would just say that he was being an advocate for the case to approve the loan.

[Old Man River]

Thaksin to face fresh charge

The National Anti-Corruption Commission (NACC) planned to file a new corruption criminal charge against fugitive deposed PM Thaksin Shinawatra, accusing him of damaging the economic system by allowing Krung Thai Bank Public Company Limited to issue large amount of credits when he was a premier, NACC member Klanarong Chantik said on Wednesday. The charge was filed to the Attorney-General before it will be forwarded to the Supreme Court's Criminal Division for Holders of Political Positions for deliberation, he said. Previously, the now-defunct Assets Scrutiny Committee (ASC) submitted the case to the Attorney-General, but the information were deemed inadequate. A committee was then set up on July 29, 2008 to gather further evidence. The information are now complete, according to

Continued here:

http://www.bangkokpost.com/breakingnews/13...ce-fresh-charge

Continued by a further....two words.

Trying to be cute with Bangkok Post, eh?

Anyway, this is an interesting case. Especially if there is any hard evidence. Usually coercion for loans is done by telephone, and the person asking for the help would just say that he was being an advocate for the case to approve the loan.

No, that is not how it usually works. Usually, there is money involved.

[Journalist]

^DUH!

My point being that there is no written evidence of the coercion.

Nor is any receipt given for the bribe.

[Plus]

They might have clear breach of in-house regulations, together with a testimony it could be enough for the court.

[jamesjdaly]

And still the Red shirts/Pheu Thai want this corrupt, bent, wayward, untrustworthy, dodgy, unreliable, slimy, arrogant, dishonest, bent, crooked, unscrupulous, debauched, shady piece of refuse back as their leader??

[Plus]

Not surprising, considering the potential benefits and alternatives.

Thaksin was like a refinery of Thai politics - all scum got separated and grouped together. In his days it was on top, now it's down where it belongs. They should use it as asphalt, for road surface, not much else.

[Bangyai]

Not surprising, considering the potential benefits and alternatives.

Thaksin was like a refinery of Thai politics - all scum got separated and grouped together. In his days it was on top, now it's down where it belongs. They should use it as asphalt, for road surface, not much else.

I think some of the scum you are refering to are now congealed in an alliance with the Democrats. Perhaps they will all sink to the bottom together

[ballpoint]

And still the Red shirts/Pheu Thai want this corrupt, bent, wayward, untrustworthy, dodgy, unreliable, slimy, arrogant, dishonest, bent, crooked, unscrupulous, debauched, shady piece of refuse back as their leader??

One of my biggest dislikes is when people don't open up and keep it all locked inside. Come on james, stop beating about the bush and tell us what you really think about him.

Edited February 19, 2009 by ballpoint

[Old Man River]

^DUH!

My point being that there is no written evidence of the coercion.

Nor is any receipt given for the bribe.

I understand your point, but it is wrong.

Despite the THB 9.9 billion being loaned for a real estate project, THB 4.5 billion is alleged to have been siphoned off with written checks (hard evidence) being paid to Panthongtae (Thaksin's son) and Manop (father of the TRT's former spokesperson), executives of How Come Entertainment, a company run by Panthongtae, and the mother of Kanchana Honghern, personal secretary to Pojaman. This is the money trail.

In addition, they have a witness from KTB who has testified that Thaksin ordered the loan.

Receipts aren't needed to follow a money trail.

[Plus]

some of the scum you are refering to are now congealed in an alliance with the Democrats

Now, the really heavy, pitch black, die-hard Thaksin goo is still sticking together.

Pre-coup days have seen only the first phaze of distillation process - collecting of ALL scum together. From 2006 and post coup days the scum was sorted and more or less acceptable elements were upgraded.

It's not that Newin has got any better, it's just that Chalerm and Co are so much worse.

[Journalist]

Were the loans repaid?

Because if they were then the primary accuation of damage to the economy doesn't look very substantial.

[justanothercybertosser]

There is a little more to this story in that following the revelations that Viroj was involved as Head of KTB in giving out questionable loans,

Lets here not forget though that Sondhi L. tried to pressure Thaksin unsuccessfully to keep Viroj, his financial adviser, as head of KTB, leading to the fall out between the two. Some of the very questionable actions of Viroj was the help he has given Sondhi.

This case seems to be typical of all the "corruption" cases that come up now - they are aimed at Thaksin solely, and involvement of people and factions allied with the present powers somehow fall under the table.

[sibeymai]

Were the loans repaid?

Because if they were then the primary accuation of damage to the economy doesn't look very substantial.

A repaid loan ? Are you serious ?

[hammered]

^DUH!

My point being that there is no written evidence of the coercion.

Nor is any receipt given for the bribe.

I understand your point, but it is wrong.

Despite the THB 9.9 billion being loaned for a real estate project, THB 4.5 billion is alleged to have been siphoned off with written checks (hard evidence) being paid to Panthongtae (Thaksin's son) and Manop (father of the TRT's former spokesperson), executives of How Come Entertainment, a company run by Panthongtae, and the mother of Kanchana Honghern, personal secretary to Pojaman. This is the money trail.

In addition, they have a witness from KTB who has testified that Thaksin ordered the loan.

Receipts aren't needed to follow a money trail.

Briniging Thaksin's son into it with presumabaly hard evidence is clearly going to get Thaksin thinking. His son is here and can if they want be kept here. If hard evidence exists that will put his son in a very difficult place and Thaksin with him who of course is well away from the system. Interesting.

[jamesjdaly]

And still the Red shirts/Pheu Thai want this corrupt, bent, wayward, untrustworthy, dodgy, unreliable, slimy, arrogant, dishonest, bent, crooked, unscrupulous, debauched, shady piece of refuse back as their leader??

One of my biggest dislikes is when people don't open up and keep it all locked inside. Come on james, stop beating about the bush and tell us what you really think about him.

[hammered]

I guess the effects of the ole animistic rites ceremony yeaterday havent kicked in yet