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

[Noodle1966]

That is a fair ruling doesnt matter how corrupt he was as Prime minister he was very wealthy before he came to be in that position, it will hurt him and hopefully he will serve some prison time when the rest of the world decides to hand him over to Thai authorities, wether this will ever happen who know's??

[jayjayjayjay]

I believe a very very Thai way to settle the whole deal(remember the most recent words of guidance from above). This verdict has followed those wisely thought out words of advice. Mr T should be pleased it was not the whole kitty, those that oppose and those that just plain hate him should be happy he had a sizable slice of his fortune seized. If in fact the taxman and others conspire to try to take the other 30b then I think the rabid tiger will go crazy in our forests, but if they do return the 30b in reasonable time, then I think he will find peace with himself.

[hammered]

It would indeed be nice if the Thaksin thing could be put to bed and movement made on the seperate issue of inequality with the issue not confused by connection to a rich man. However, for that to happen many people have to come to their senses and forget personal agendas.

[jc14all]

...and the poor still get poorer and the rich get richer. Money, power, resources and politics breed nothing but corruption and confusion. The smart thing for gov't to do now that a verdict has been reached is to distribute the wealth equally to the the people of the Thai Kingdom. Whoever, keeps this money will bear the curse of greed and the stigma of corruption and both sides will always be at variance with one another .

[connel707]

It was said that 76 billion were seized. Now 46 are to be retained. What happens to the remaining 30 billion? Are they to be returned to the man who took them from the thai people?

Yes, but he has to come to the court in person and sign for the return of the 30 billions....Hmmmmm

[jdinasia]

The Headline I would like to see tmw ......

Government Announces 46 Billion Eductaion plan for rural Thailand

and make it work!

[Foggy Bottom]

At 5.00 pm: The judges proceed to rule on the followings:

- By an unanimous decision, the prosecution is unclear on the extent of unusual wealth and how it is linked to abuse of office

- The high court believes Thaksin and family retain control over Shin Corp through their equity structure before and after becoming the prime minister

- The high court rules the conversion of concession fees to excise charges for mobile phone services was deemed favourable to Shin Corp, dampening competition.

- In regard to the adjustment of revenue sharing scheme for AIS pre-paid services, the high court rules that the new scheme was unnecessarily made favourable to the operator.

- Addressing the adjustment of roaming charges paid by AIS to its contractor Telephone Organisation of Thailand, the high court rules the charges were calculated to favour AIS.

- The high court rules in a majority decision that the adjusted rules for the telecom industry were designed to favour Shin Corp.

- In regard to satellite communications, the high court rules the revised contractual provision for ThaiCom deal were manipulated to designate IPStar as a back-up satellite even though its functions are different from ThaiCom. This allows the contractor to avoid launching ThaiCom4.

- The high court rules the decision to adjust satellite contractual provisions resulted in helping Shin Corp and ThaiCom to launch a new satellite without having to bid for a new concession.

- By a majority decision, the jugdes rule the ThaiCom deal was favourable to Shin Corp.

- The high court rules that Shin Corp, state concessionair holding the majority stakes in ThaiCom, diluted its equity in the satellite communications without the approval of the Cabinet.

- By a majority decision, the judges rule the equity dilution was favourable to Shin Corp.

- The high court finds the decision to allow ThaiCom to earmark an insurance claim from damaged ThaiCom3 satellite to lease a foreign satellite instead of launching a back-up satellite was arbitrary.

- By a majority decision, the judges rule such arbitrary decision to favour Shin Corp and ThaiCom.

- The high court finds that the approval of Exim Bank loans to Burma was part of the Thai foreign policy.

- It also uncovers that the telecom deal came up after Thaksin met Burmese leaders and that the deal was not in the original talks in Pegu, Burma to promote good neighbourly relations.

- The high court believes the Burmese request to increase the loans from Bt3 billion to Bt4 billion under concessionary terms was destined to pay for services provided by ThaiCom.

- By a majority decision, the judges rules the deal was favourable to Shin Corp and Thaicom.

At 8.15: the judges move to address Thaksin's involvement in benefiting Shin Corp.

The high court finds Thaksin as prime minister and his ministers, including those from Finance, Industry and Information Communication and Technology were directly linked to deals deemed favourable to Shin Corp.

By a majority decision, the judges rule Thaksin abuse his office to benefit Shin Corp, AIS and ThaiCom.

Snipped heavily to get to the meat of it - Sitting back from any emotional thoughts, and certainly not criticising the judgement or judges, the parts of the quote I've highlighted all bring me to two words - "complicity" and "conspiracy" - in every one of the highlights, it either states Thaksin did not act alone, or implies an action where he could not have achieved the outcome alone.

The question on my mind therefore is - when will be the Thai "Night of the Long Knives" for all the co-complicitors and co-conspirators?

The judges have pretty much named the next three primary targets -

his ministers, including those from Finance, Industry and Information Communication and Technology

However I note they didn't name the position of Foreign Minister in relation to the charge that was part of the then Thai Foreign Policy (Burma related). No criticism, just observation on the omission from the later list of cabinet posts cited.

All that is needed now, is to tie the dates of the "favourable decisions" to the holders of the above posts at those times, and we can hold a sweepstake for who gets nailed next. I'm thinking that this case, as large and unusual as it was, is only the tip of the workload iceberg for the Criminal Court for Holders of Political Positions.

It's very likely that this drama could have a longer run that has Coronation Street on British TV.

Foggy

[YORKSHIREPUD]

I truly do not understand the headline " Guilty !" --- this was not a criminal trial ! Is this headline from the Nation? It is a misleading and inflammatory headline.

Now we must read the verdicts to understand the reasoning !

LannaRed,in your quote,you do not understand "GUILTY",No matter what kind of trial you deem it to be,it was a COURT OF LAW and so HE was charged for an act that was commited during his time in office and found " GUILTY " of that act, I hope this is a simple enough explanation for you to understand my friend.

The Law is The Law and the Courts are ALL Courts of the people of this great THAILAND.

[Old Man River]

{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

It would be interesting to know what the Thai codified law reads that covers this. I see your point about outside of Thailand, but in this country where there are no precedents, it would have to be black and white in the codified law or it would make sense for Thaksin and family to argue the point (given the amounts involved).

[jayjayjayjay]

It would indeed be nice if the Thaksin thing could be put to bed and movement made on the seperate issue of inequality with the issue not confused by connection to a rich man. However, for that to happen many people have to come to their senses and forget personal agendas.

"movement made on the separate issue of inequality with the issue not confused by connection to a rich man"

hammered, to cryptic for me!

[firestar]

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???

He wasn't in office in 1994, he entered politics in 1994 not the same things.

He made his money by being awarded the mobile phone concession in 1990. Nobody knew it would be so valuable or there is little doubt it wouldn't have been given so diligently to the owner of a small computer rental business.

The lucky few, in a number of countries, awarded these concessions, became immensely rich regardless of entering politics or not.

Edited February 26, 2010 by firestar

[hammered]

It would indeed be nice if the Thaksin thing could be put to bed and movement made on the seperate issue of inequality with the issue not confused by connection to a rich man. However, for that to happen many people have to come to their senses and forget personal agendas.

"movement made on the separate issue of inequality with the issue not confused by connection to a rich man"

hammered, to cryptic for me!

Im tired I guess. Just saying it would be nice to move the agenda from Thaksin to discussing inequality

[ManilaLover]

The Headline I would like to see tmw ......

Government Announces 46 Billion Eductaion plan for rural Thailand

and make it work!

That headline TOMORROW in the news would be a very strong one !

[hunglikea]

The smart thing for gov't to do now that a verdict has been reached is to distribute the wealth equally to the the people of the Thai Kingdom.

In an ideal world yes, BUT...TIT.

However more has been done today than most expected - all credit to the courts.

[shadiadi]

I am not for or against Thaksin but the most relevant thing has been left out really this appears to not have been solely about Thaksin. I understand Thai the first ruling was against AIS they revised the AIS payment fees for the next 21 years out of 25 year contract plus maybe they requested AIS to pay the balance that is due but don't quote me on that. One thing for sure is that everyones mobile phone charges are going to increase dramatically as I believe this will affect all companies. I am sure mere 40 odd billion baht is nothing compared to the annual increase in mobile charges each year. The roads get worse health and education certainly will not improve more money to be spread around.

I hope this doesn't get deleted.

[neverdie]

What Visa will he get when/if he returns?

Jail sentence visa. 2 years i believe.

[how241]

Hopefully, a ruling that both sides can live with. Peacefully.

[frodo]

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???

He wasn't in office in 1994, he entered politics in 1994 not the same things.

He made his money by being awarded the mobile phone concession in 1990. Nobody knew it would be so valuable or there is little doubt it wouldn't have been given so diligently to the owner of a small computer rental business.

The lucky few, in a number of countries, awarded these concessions, became immensely rich regardless of entering politics or not.

Lest we forget the William Monson episode prior to the 90's. I can only hope that Monson's appeal goes through and, if so, Thaksin may very well be charged with more charges, including perjury. Has Thaksin ever told the truth?

[neverdie]

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!

Ah! ....my dear old professor. Can one assume from your post that you come from a long line of UK landed gentry, and therefore have little truck with the aspirations of the Thai "peasants"?

Or are you suggesting that Thaksin, coming from a hi-so background, lowered himself to have a number of peasant lovers?

In either case, your post is offensive. Far more flatulent than professorial.

HOLD ON jack, he used the word 'peasant' not 'pleb' no need to get your social security welfare upbringing involved in this.

[neverdie]

"This case is very political. The court was used to get rid of a politician," Thaksin said in the speech carried on one of his children's satellite television channels.

-- ©Copyright AFP 2010-02-26

Published with written approval from AFP.

[newsfooter][/newsfooter]

So funny, one of his childrens television channels.... , quite the norm really

[h90]

What Visa will he get when/if he returns?

Jail sentence visa. 2 years i believe.

on his last visa he had to do a border run....

[jdinasia]

Can someone please delineate between the Toxins, Taxings, er, Thaksins (it's funny they all sound the same) seized assets and that of his wife?

One of the articles seemed to indicate the total amount of 46 billion was the sum result of both of them. Is that so? Or is there more we have yet to hear about?

Also, if Thai law prohibits governmental members from holding extracurricular posts, what about his wife and her business interests? Or has that already been determined?

The court seemed to rule that Thaksin and his wife were using joint money (that they benefitted together and that her money directly helped cover things) so are treating it as community property. That was how I read it. When I get a printed version I will look up the particulars

[MUYTHAI]

Any fireworks going off anywhere?

Celebratory of course.

Sssshhhhh...quiet please. Let us observe a moment of silence and reflection.

..................................................

OK...please pass me some popcorn.

[ThailandTommy]

"I want to reaffirm that I and my family earned all of the money with our hard work, brains, and sweat. We have never been corrupt as accused,"

he said on Twitter early Friday.

I actually feel some sympathy for him however he does himself no favours with statements like this, I think the way forward for him would be to 'stick his hands up' accept the findings of the Court, apologise to the powers that be, maintain a low profile, bide his time then instruct his solicitors to push for a royal pardon.

[shadiadi]

The new revised taxes on mobile phone rates are sure to affect everyone poor or rich red or yellow these taxes annually are more than the original amount they wanted to seize from him. Really this only benefits TOT & CAT in mobile phone charges which I understand are government agencies.

So we just went back 10 years. So who wins? I am not against Thaksin, But I do applaude progress the only real losers in this case are all of us who live here and can afford a mobile. Thaksin just has to go back a few years in time ok so he has'nt really lost anything only time and face

[memere5]

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 Thailand's economy will benefit from this excellent decision from the Court. If only the red and yellow shirts would calm down long enough to let the present Government prove (or not) what they can do for the people.

[ThaksinKharma]

The bad man is once again proven to be bad.

[DP25]

He made his money by being awarded the mobile phone concession in 1990.

The business, of course, which was stolen from an American.

[penzman]

Hopefully, a ruling that both sides can live with. Peacefully.

Yes as he did say that he should die within 7 days if he really is guilty.

[thailien8]

Will 30 billion baht be enough to salve Thaksin's wounded face, and bring peace at last to Thailand, or will Takky use the money against us?