Thaksin Asset Case: Bt46 Billion Will Be Seized Along With Interests

[firestar]

All's quiet at the moment but wait until the Lao Khao kicks in to the peasant lovers of Thaksin!

Was rather amusing seeing his cronies blubbing over the loss of their stolen cash.

Fair do's!

Thaksin supporters or not, the red shirts are sometimes not far from the truth in their belief that they are looked down upon and victimized by the so called Bangkok elites...

[elcent]

46 Billion is small change. The 76b is not his total fortune.

I read somewhere that in 2007 he had 530 Billion baht. Yes, 530. It may have been more, because these "rich lists" never tell the whole story. Sure, he may have lost some of that with football clubs, but we are talking smaller sums.

Anyone with his money and acumen will have made sure that a large lump is in Bermuda or a Basel bank and that it was spread around ages ago into all sorts of offshore places and ghost companies. He may be chuckling now.

This is speculation on my part, and should not be taken as criticism or legal fact. But, anybody who thinks that he will be eating boiled race next week is badly mistaken

Eddy

One football club He sold Manchester City with a massive profit.

Money laundering and trouble stirring Muzzies at its best.

Why you think Thaksin has suddenly converted to persona non grata in the UK?

[whistleblower]

All's quiet at the moment but wait until the Lao Khao kicks in to the peasant lovers of Thaksin!

Was rather amusing seeing his cronies blubbing over the loss of their stolen cash.

Fair do's!

PEASANT lovers of Thaksin. ???

You like the class structures of society, Professor

What do you call them then??? people who will abandon their "farms" for the price of a bus ticket, 300baht and a free foot clapper???

[Chris Lawrence]

interesting politics south east Asia? Brave decisions by all, just hope that the dust settles very quickly and people stay safe.

[SabaiBKK]

I hope Thaksin can accept this, as he said he would before the final verdict was announced, and let Thailand move forward.

"Thaksin said in a video speech from exile in Dubai that the ruling was "very political" and a "joke for the world".

isn t that contempt of court? i guess he could be prosecuted over this too, what do you think?

[RegularReader]

Why did they only take 46.363 bill. Because the tax man want's his bit + he has more court case's in the pipe line. By the time they have finished with him, and his family, they will get the lot. Might take a year or two but mark my word's.

What an ignorant comment

Is it <deleted> an ignorant comment!!!! probably the most honest and true comment so far!. let me guess you believe the money seized will be distributed amongst the poor?????

How much of the Tsunami money that poured in actually went to victims??? Last i read on this site the early warning system was defunct cos no one wanted to front for a new batterry!!!

Yes it is ignorant - just as your comment, is also a gross distortion of events.

This decision today was a very importnant issue for Thailand and the workings of the country.

It was not sensational.

It was done with great consideration.

As George pointed out earlier, it is not for us to criticize the decisions handed down.

They are, what they are.

And whilst you might have some valid reasons, for making your outlandish comments about the money donated to the vrious tsunami appeals, they have nothing to do with this case.

If you want to believe today's verdicts were nothing more than a perpetuation of things, as they have so often been in Thailand's past, I feel sorry for you.

I happen to want to believe, this country has a chance to go forward, after today.

But, more - if not just for the vested interests of my Thai family - I want Thai people; that is, all Thai people, to have the chance to live in a country which is truly free and one where it's people; all its people, are given an equal opportunity, to live up to their expectations.

[Mario2008]

lets keep it civil and refrain from insulting the each other or groups of people.

[Mario2008]

post referring to a non existing mr Toxin deleted.

[Credo]

I am glad to see that this was handled quite openly and fairly by the court. Whether you agree or disagree, it was a well-thought out verdict(s). It does help to restore confidence in a very important institution.

I'll leave up to the more educated, informed and pedantic to take the verdict apart piece by piece and analyze it.

All in all, well done and fair.

[britmaveric]

What do you call them then??? people who will abandon their "farms" jobs for the price of a bus ticket, 300baht and a free foot clapper???

<flame deleted>

Edited February 26, 2010 by Maestro
Deleted flame - Maestro

[gemini81]

Respect and compliments to the members of the court who had to work through mountains of documents to arrive at a correct decision.

I really hope that this now leads to peace in the Kingdom however I have my doubts

thats the most important thing, and the day passed more peacefully than many expected. No need for blood or fighting over one individual's hearing on assets.

[Phuket Stan]

Nice to see the BBC still has an anti Thailand and love Thaksin fixation with them showing policemen beating their sheilads and soldiers exercising ...to think that organisation was once the leading news scource in the world and now where it is...with the biased Head shifted to other pastures I was hoping that things would improve somewhat....ahh well.....

Re his money from the sale of Manchester City... did the UK government not seize that money because his original investment in the team was not CLEAN money ??

[MaxLee]

So just simply tell somebody like me who doesn't know too much about Thai politics... what's gonna happen tomorrow or the following days in Thailand? Where will the red shirts strike???

[geovalin]

How many months can you survive with THB 30 billions?

[Mario2008]

All's quiet at the moment but wait until the Lao Khao kicks in to the peasant lovers of Thaksin!

Was rather amusing seeing his cronies blubbing over the loss of their stolen cash.

Fair do's!

PEASANT lovers of Thaksin. ???

You like the class structures of society, Professor

What do you call them then??? people who will abandon their "farms" for the price of a bus ticket, 300baht and a free foot clapper???

And how much was it for the "educated" yellow shirts protesters??? my neighbor was there it 300baht and a free hand clapper!?!

What should I call her then??

I call this little discussion off topic and will delete further comments of this nature. It is only leading to name calling and away from the topic at hand.

[Mario2008]

1 off topic comment deleted. Further off topic comments will be deleted without further notice, as will comments criticizing the court,

[Old Man River]

There is a tax claim to follow, claiming illegal tax evasion.

It seems to me that any tax claim must be computed on the excess of the sales price, reduced by the amount of the profits confiscated, over his basis in the stock. To compute the tax on the original sales price would be double-dipping.

That is a good point. It will be interesting to see how the TRD handles this.

No, in these cases such actions would be based on the original activity, it is after all meant to be a penalty.

Regards

While that is probably how it will be handled, I am not sure it was meant to be a penalty in this regard. After all, this money was seized because it was ruled to not be legally earned (i.e. earned via abuse of power). If not legally earned, should taxes really be owed on illegally earned funds?

[silk]

Comment form Thaksin: Thaksin says he should have listened to wife,children and not entered politics. Thaksin says he hopes he is the last victim.

Thaksin wears a black suit and black tie. Bt15 billion wealth acquired before Thaksin took office is a matter for consideration...

-- TAN Network/ The Nation 2010-02-26

He was in office from 1994 to 2007, 13 years, this means during the period form 1982 to 1994 (before he went into politics) he made a fortune of Bt15 Billion as a policeman and businessman. This is Bt 3 205 128 per day. How did he do that???

[Netfan]

So just simply tell somebody like me who doesn't know too much about Thai politics... what's gonna happen tomorrow or the following days in Thailand? Where will the red shirts strike???

Next month. The reds are promising a million supporteds supporters and that they will topple the government. If it happens it will be more like 10,000. More than likely it will get postponed again when the leaders realize they don't have the numbers.

[george]

I'm victim, it's cruel politic : Thaksin

Fugitive ex-PM Thaksin Shinawatra on Friday branded as unfair the Supreme Court's rulings against him which saw his Bt46 bn seized and Bt30 returned.

"I am the victim of Thai politics. Thai justice system is child play," Thaksin said.

Wearing a black suit and black tie, Thaksin said via his D-Station that he wore black to mourn for his own stubbornness for not heeding his family's warning against entering Thai politics.

"I'm sorry kids, for causing trouble to our family. This is cruel politics", he said.

He insisted he will seek justice everywhere, no matter it's in hel_l.

He also warned, "If you are businessmen, think it through if you are tempted to enter politics. Let me be the last victim."

"Don't cause any trouble and give government a chance to pick on you".

He also called for the red shirts to stay calm and fight peacefully.

"You (red shirts) must fight peacefully, or our country will remain in the hands of Amatiya or Aristocracy. Fight on. Don't give up until you get democracy."

"Things move super fast when it involves cases against people like me, When democracy matures, there should be no more victims like me"

-- The Nation 2010-02-26

[newsfooter][/newsfooter]

[hunglikea]

Oops, sorry mario just saw your warning, It was only a wee bit fun tho"

[Sunderland]

I dont think Thaksin will be too disappointed. Any day where you start with zero and end up 30 billion better off is not a bad one.

It wasn't as though he was going to get it all back, if he had then it would have nullified the coup and everything since 2006, and there was a good chance he could lose it all. The judiciary have done what they were required to do and there's a compromise that should satisfy both sides.

Now what to spend that 30 billion on

Well I know for a fact that he has a 'gig' who is a flight attendant with Emirates in Dubai, so he might spend some of it on her shopping trips ... if he is still allowed in Dubai.

[elcent]

Nice to see the BBC still has an anti Thailand and love Thaksin fixation with them showing policemen beating their sheilads and soldiers exercising ...to think that organisation was once the leading news scource in the world and now where it is...with the biased Head shifted to other pastures I was hoping that things would improve somewhat....ahh well.....

Re his money from the sale of Manchester City... did the UK government not seize that money because his original investment in the team was not CLEAN money ??

England wants its runaways back to spend their from taxpayers financed pension at home?

[brahmburgers]

I'm tryin to think how i would feel if you said I lost but they allowed me to keep 20 billion baht. I think I'd be ok with that.

quote of the day! way to go fiddlehead!

.........I too think I'd be ok with 20 or 30 billion baht, to add to the billions I have stashed away elsewhere.

Just curious, how true has Thaksin been to his promises to pour money in to Nicaragua, Ghana, Ugunda, several other African countries, plus Montenegro, a few Pacific islands, and elsewhere? Does anyone ever call him up and say, "Hey, Takki my friend, remember the promises you made last year - to invest big money and make everyone richer in my country?! We're still waiting for you - and your diplomatic passport is waiting here for you to pick it up. Which name do you want on it?

[Mario2008]

Oops, sorry mario just saw your warning, It was only a wee bit fun tho"

And recognized as such. Our main concern is not to go off topic and to keep it civil and within the law.

[andrewfr]

Why do we not see mention of the fact that the Big T made a huge fortune with inside information in Hong Kong at the time of the baht devaulation in 1997 in collusion with a couple of senior people in the know,

[A_Traveller]

{quote removed owing to software constraint...}That is a good point. It will be interesting to see how the TRD handles this.

No, in these cases such actions would be based on the original activity, it is after all meant to be a penalty.

Regards

While that is probably how it will be handled, I am not sure it was meant to be a penalty in this regard. After all, this money was seized because it was ruled to not be legally earned (i.e. earned via abuse of power). If not legally earned, should taxes really be owed on illegally earned funds?

Yes, this has been the case in a number of cases IIRC outside Thailand. The view is simple, the company [or individual] endeavored to defraud both the taxation authorities [at the time] and the 'marketplace' [using the term broadly to save this becoming unfeasibly complex]. Therefore the charges and penalty for that is what it most assuredly is, are thus levied on the full process amount. Yes, it is a case of getting it both ways, such is the power of government.

Regards

Edited February 26, 2010 by A_Traveller

[bf2002]

Lets not forget the interest, which will also be seized and will also be a large portion. Wonder how much that will be amount to, could also be a large sum.

Any idea when the criminal prosecutions will commence?

The man was already tried and sentenced to 2 years in prison.

[Old Man River]

Comment form Thaksin: Thaksin says he should have listened to wife,children and not entered politics. Thaksin says he hopes he is the last victim.

Thaksin wears a black suit and black tie. Bt15 billion wealth acquired before Thaksin took office is a matter for consideration...

-- TAN Network/ The Nation 2010-02-26

He was in office from 1994 to 2007, 13 years, this means during the period form 1982 to 1994 (before he went into politics) he made a fortune of Bt15 Billion as a policeman and businessman. This is Bt 3 205 128 per day. How did he do that???

I think the court case was based on when he was PM (2001). Also, let's not forget one of the reasons he won by a landslide in 2001 was that many believed (myself included) that he was already so rich from his thriving telecom company that he didn't need to rip off the country. We were wrong.

[kurtgruen]

My hat is off to Thailand and it's judges. If all this corruption had happened in North America or Europe, maybe we would not have seen justice.

I think it was a very good "Thai way" of handling it, by only seizing 46 Billion. It is a very peaceful solution, which may put out a lot of fires. If they would have seized the rest for penalties and fines, which they could have, unrest would continue much more, than it will now, I think.

Very wise judges, in my opinion.

In my opinion, this was the perfect outcome, under the circumstances.

I'm getting tired of paid demonstrators, being put in harms way, by greedy people and hope that this will put an end to this Thaksin thing.

Thailand has a strong economy and will emerge as one of the economic power houses in the world, if it can get past it's internal fighting.

Maybe, if Governments learn to share the wealth and not just hoard it for the privilleged few, the standard of living for the poor can be raised, the middle class will grow and the rich will still be rich. Everyone will be much happier and society will be much healthier.

Is this possible here, or anywhere else? I sure hope so.