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

[jackspratt]

Given the rules set out at the start of the topic, I'm afraid I'm unable to contribute..

I hope one day democracy will be established in Thailand.

Good night everyone!!

A big thumbs up for you too, Winnie.

Your discipline and abstinence will be much appreciated (by most).

[hungryINbangkok]

Any bets on the back lash from his supporters?

***ducks and runs for cover****

[kuffki]

46 billion is a large some of money in any persons mind. Interest however, not sure what what date it will be calculated and at what rates but in my rough calculation it could easily add up to 10 billion if not more. So i think in total he has lost over 70% of that money. Also how would they release the rest? send him a cheque? or invite him to come and collect it?

I hate to say is, but i think the whole Thaksin thing is not over yet but just starting over again

[elcent]

My conclusion:

Thaksin's influence on the red shits has come to a halt, but this doesn't necessarily mean that the red shirt's movement comes to a halt. If they fetch some good leaders they should be taken more seriously. - This is a good advice.

The yellow cake(normally a substance that needs to be controlled internationally ) will have to be tested by the fire as well, let's see how that ends up.

They are no heroes, there are no heroes, just keep anything you do reasonable within the law.

Edited February 26, 2010 by elcent

[HAL9000]

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?

The verdict says that his own money cannot be confiscated.

[jjmax]

The verdict proves that Thailand is de facto more democratic than my country, Italy. where the prime minister, Berlusconi, acted in a more outlawish way than Thaksin, but was never convicted...

Totally agree. I'm from Ireland and we've similar issues so bravo Thailand.

[snaggletooth]

The people from Bangkok Post went home before this outcome

Amazing.

you must be sleeping. Bangkokpost updates are far more regular on your phone than those yellow coloured comments of the nation. Amazing indeed.

WHile the Bangkok post won't report on anything controversial for fear of losing ad revenues. The Post is a worthless paper and nobody there has the guts to do serious investigative reporting.

[Changian]

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

[frodo]

# "If u 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".

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

# Thaksin wears a black suit and black tie.

# "Things move super fast when it involves cases against people like me"

# "Thai justice system is child play"

# "When democracy matures, there should be no more victims like me"

# "This is cruel politics"

# "I'm sorry kids, for causing trouble to our family", he said.

# Through D station, he said he's mourning his own stubbornness. (referring to refusal to heed his family's warnings against playing politics)

# Now, Thaksin reacting to the verdict..

---The Nation

Good God! Playing the poor martyr.

[stagger]

What Visa will he get when/if he returns?

[mythBuster]

One bright spot, the army can buy 117,442 GT-200 bomb and drugs scanners, that makes us much safer.

[mythBuster]

By the way, the interest intriques me. Does Thaksin get interest too over the part of the assets that are not seized? Most probably yes..

[webfact]

46.3 bn THB of ex-PM seized

BANGKOK: -- (NNT) – The Supreme Court’s Criminal Division for Holders of Political Positions rules with majority vote to confiscate assets of ex-PM Thaksin Shinawatra and his ex-wife totaling 46.3 billion THB out of 76 billion THB.

The seized assets have been acquired from his selling of Shin Corp shares to Singapore’s Temasek Group. They include dividends of 6.8 billion THB and the shares’ combined value of 36 billion THB.

Judges said the confiscation of all assets was not fair for the defendant.

22 people, including Mr Thaksin and members of his family, held the shares of Shin Corp before selling them to Temasek. Shin Corp is the country’s biggest telecom company.

The judges earlier ruled that Mr Thaksin had abused his power while in office to benefit Shin Corp by converting telecom concession payments to excise tax. He was also found guilty of concealing shares by holding them via proxies.

-- NNT 2010-02-26

[newsfooter][/newsfooter]

[firestar]

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

Spoken like a true yellow, now that we've hogged all the power and are sitting comfortably on top, let's just move on.

[whistleblower]

Thanks for the updates on the forum. Now just waiting for part two of this soap opera!

Me too. they froze 89 billion? took roughly half, which leaves him more than enough to mount another attack on the govt. so ensuring that the cycle of the rich fighting over the labours of the poor will continue. I bet P>T Barnum would have loved Thaksin as a side show freak in his time.

[Donnyboy]

Given the rules set out at the start of the topic, I'm afraid I'm unable to contribute..

I hope one day democracy will be established in Thailand.

Good night everyone!!

A big thumbs up for you too, Winnie.

Your discipline and abstinence will be much appreciated (by most).

[george]

Thaksin slams 'very political' Thai court ruling

BANGKOK, February 26, 2010 (AFP) - Former Thai premier Thaksin Shinawatra said in a video speech from exile in Dubai Friday that a court ruling confiscating more than half of his wealth was "very political" and a "joke for the world".

Thaksin was speaking after Thailand's Supreme Court seized 1.4 billion dollars worth of assets from his 2.3-billion-dollar fortune, frozen shortly after he was toppled in a coup in 2006.

"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.

"The ruling will be a joke for the world.

-- ©Copyright AFP 2010-02-26

Published with written approval from AFP.

[newsfooter][/newsfooter]

[marshbags]

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?

There is the issue of the defendant not being in Thailand, which is an impediment to a number of legal challenges, though it is possible to ask for special judicial approval for the case to commence.

Regards

He already received a 2 year sentence after being tried in abstention. Why not continue with the process so that there can finally be complete closure?

He has to be here in person for the cases to go to initially court from what I seem to remember.

marshbags

KUDOS to all who have kept us informed and updated during the last 7 hours, T.Visa and ALL contributing members who joined in on the debate.

Thank you and thank fck they finally nailed the ??? for what he truly is...................

Truly Amazing from a Thai culture changing point of view.

I await the EJK,s and all H Rights offences committed on his watch being addressed with justice for the victims and their heartbroken families, either in this life ( preferably ) or Buddhist style in the next.

Edited February 26, 2010 by marshbags

[ovenman]

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.

Think again. He hasn't gotten anything back yet. The remaining 30 billion baht remains seized until it's figured out how much interest and such will be assessed by the Court. Plus, the tax man will probably be looking for a slice of that pie.

[roygsd]

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

Should have listened to his ex-wife and children ? Quite an admission, perhaps they are worth more than he is now?

Roy gsd

[pauleddy]

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

[Netfan]

# "If u 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".

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

# Thaksin wears a black suit and black tie.

# "Things move super fast when it involves cases against people like me"

# "Thai justice system is child play"

# "When democracy matures, there should be no more victims like me"

# "This is cruel politics"

# "I'm sorry kids, for causing trouble to our family", he said.

# Through D station, he said he's mourning his own stubbornness. (referring to refusal to heed his family's warnings against playing politics)

# Now, Thaksin reacting to the verdict..

---The Nation

Good God! Playing the poor martyr.

Don't forget - he's Thailand's Nelson Mandela (according to him )

[Puccini]

Does anyone have any information on the crowds in Bangkok and elsewhere? How many are there? How are they behaving? Are there reds and yellows out, or just reds?

Everybody was and is indoors, glued to the TV sets.

[Rhodiebkk]

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

He's already claiming to be "the victim".

The man has no shame and believes Thailand revolves around him.

It's time for him to stop playing the martyr, and get off the cross.

[webfact]

Court Rules to Seize 46 Billion Baht

BANGKOK: --Supreme Court judges in charge of former prime minister Thaksin Shinawatra's assets case spent seven hours reading the verdict and ruled all proceedings related to the prosecution is lawful.

The court seized 46 billion baht of Thaksin's assets. The remaining 30 billion baht will be returned, as it is the value of Shin Corp's shares before he came into power.

It also found Thaksin was still the major shareholder of Shin Corp while he was in office.

The Supreme Court's division for cases against political post holders ruled fugitive former prime minister Thaksin Shinawatra still held shares of Shin Corporation when he came to power in 2001 and served his second term in office in 2005.

The court ruled that his children, relatives and close aides were all holding shares as his proxies.

The court also found one to six defendants had involvement with private companies granted state concessions, which is unlawful for politicians.

The court also dismissed arguments by the defendants that the Assets Examination Committee, or AEC, had no authority to investigate the case as the panel was set up under the order of the now-defunct Council for Democratic Reform.

The tribunal ruled that the defendants' claim that some AEC members are Thaksin's opponents is implausible and the panel was equipped with the authority to file a complaint with the court, seeking the seizure of the defendants' assets.

Another argument over the unlawful appointment of the current National Anti-Corruption Commission has also been dismissed.

The court still has not completed its verdict reading.

All the nine judges in charge of the 76 billion-baht assets case arrived at the Supreme Court at around 9 a.m. in bulletproof vehicles and began reading the verdict at 1.40 p.m. They spent the morning discussing their personal opinions on the case and came up with the collective ruling behind closed door.

No members of the Shinawatra family appeared at the court to hear the verdict but their lawyers arrived at the court at around 1 p.m. Somporn Wongsuwan, lawyer of Thaksin's ex wife Pojaman Damapong, said his client will listen to the court's verdict at home with her children.

Meanwhile, MPs and core elements of the opposition Pheu Thai Party, including its chairman General Chavalit Yongchaiyudh and Thaksin's adviser, Chaturon Chaisaeng, packed the party's head office to hear the broadcast of the verdict reading.

Thaksin addressed party members via video-link at 12.40 p.m. with an anxious face and urged his supporters to remain united for their cause.

Thaksin insisted whatever the outcome of the case, he and his family will continue their fight until they find justice.

The fugitive premier is set to release his official statement after the tribunal completes reading of the verdict and has scheduled a video-link press conference for 8.30 p.m. at the Pheu Thai Party headquarters.

Some former members of the party's legal team also held a seminar on the court's ruling to estimate the political situation in the future.

-- Tan Network 2010-02-26

[newsfooter][/newsfooter]

[jackspratt]

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.

[george]

TAN Network: Thaksin swears that he did not corrupt; prompts reds to keep on fighting

[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

[frodo]

Thaksin slams 'very political' Thai court ruling

BANGKOK: -- , February 26, 2010 (AFP) - Former Thai premier Thaksin Shinawatra said in a video speech from exile in Dubai Friday that a court ruling confiscating more than half of his wealth was "very political" and a "joke for the world".

<img src=http://www.thaivisa.com/forum/pics/afplogo.jpg target="_blank">

-- ©Copyright AFP 2010-02-26

Published with written approval from AFP.

[newsfooter][/newsfooter]

Speaking of jokes, I wonder if Thaksin will continue with his threat of taking this case to the World Court!

[Konini]

Kudos to George - In spite of a critisim or two from the more active members, you did a really good job of keeping the masses informed.

Good on you - and thanks for a job well done.