New Woes Loom For Thaksin

[webfact]

New woes loom for Thaksin

By The Nation

BANGKOK: -- Department of Special Investigation is 'working on the possibility of reopening the SC Asset case'

As his family prepares to appeal against the seizure of Bt46 billion in the Shin Corp case, ousted prime minister Thaksin Shinawatra may be facing far more damaging criminal charges involving claims of asset concealment and money laundering related to Win Mark and SC Asset.

Charnchai Issarasenarak, chairman of the House Committee on the Prevention and Suppression of Corruption and Malpractice, said the Win Mark/SC Asset case remained active even though the Department of Special Investigation (DSI) and the Office of the Attorney-General had earlier agreed not to file charges against Thaksin related to it.

"The House committee has received complaints the decision not to file criminal suits in the SC Asset case was unwarranted, so we have conducted our own investigation," he said.

"From Securities and Exchange Commission [sEC] data, we've found both Thaksin and Pojaman Shinawatra [now Pojaman na Pombejra] hired two funds - OGF and ODF - to manage their wealth, with a Malaysian manager.

"In any stock transactions, the Malaysian fund manager had to receive consent from Thaksin and Pojaman first. This means Thaksin and Pojaman did the stock transactions by themselves.

This amounted to share concealment and money laundering in the stock market."

THAKSIN 'BENEFICIARY OWNER'

Charnchai said the House committee had summoned a DSI representative to inquire about the matter and was told Thaksin was the beneficiary owner of SC Asset.

Win Mark is one of two offshore companies registered in the British Virgin Islands.

The other is the now notorious Ample Rich. Thaksin used Ample Rich to hold Shin stocks in a foreign account and relied on Win Mark to control SC Asset, a property firm listed on the Stock Exchange of Thailand.

SC Asset is Thaksin and Pojaman's nest of wealth. After the sale of Shin, the two diversified their wealth into the property market, using SC Asset as a flagship. Thaksin's sister, Yingluck, is looking after this company as its chairwoman.

If the SC Asset case were to go to court, Thaksin's wealth and legal status could be further shattered.

DSI director-general Tharit Pengdit said he was working on the possibility of reopening the SC Asset case. After consulting the SEC, he will seek further information and documents related to Win Mark and SC Asset from the Supreme Court's Criminal Division for Political Office Holders, which ruled on the Bt76-billion assets-seizure case.

"We'd like to reconsider whether it is possible to reopen the SC Asset case after the public prosecutors' decision not to file a criminal suit," Tharit said.

If the authorities agree to proceed, the Win Mark/SC Asset case will be filed as a criminal suit with the Criminal Court. The Bt76-billion Shin assets-seizure case, on the other hand, was a civil suit.

It was found that at the time of Shin's sale to Singapore's Temasek Holdings in January 2006, Win Mark was holding 54 million Shin shares.

A justice-system source said the Supreme Court did not rule on the confiscation of Win Mark's 54 million Shin shares because public prosecutors did not request any action on this share portion in the suit.

"I don't understand why the public prosecutors did not request that the Court confiscate the 54 million Shin shares held by Win Mark. There could be reasons I don't know about, or it could be a mistake on the part of the public prosecutors and the Assets Examination Committee," Tharit said.

"Thaksin was allowed to walk free in this case and continues to own the 54 million Shin shares. He could be deemed to be unusually rich in this case."

In 1993, before SC Asset was listed on the stock market, the Shinawatras notified the SEC they owned 60.82 per cent of shares in SC Asset. But they did not disclose the fact that OGF and ODF also held SC Asset stocks on their behalf.

If this portion were included, the Shinawatras would have reported their combined holding of 79.87 per cent, which exceeded the critical 75-per-cent stake needed to pass major company resolutions.

Chatthip Tanthaprasat, a lawyer representing Thaksin, said the Shinawatras would lodge an appeal by this Friday with the Supreme Court against the ruling that confiscated Bt46 billion worth of the family's assets.

-- The Nation 2010-03-23

[newsfooter][/newsfooter]

[brahmburgers]

I almost feel sorry for the guy.

[krakatoa]

I almost feel sorry for the guy.

That I could never ever allow myself to do

[Publicus]

I almost feel sorry for the guy.

Yeah, the Supreme Court judgement was balanced and judicious, but given that Thaksin denounced the court and it level headed ruling, and now is associating with more gangsters and mobsters in more countries while he has his Redshirts motorcycling around Bangkok and rallying again to topple the government on the coming weekend, it seems parliamentarians in the government have decided to strip Thaksin of anything and everything he has or could have or get.

Can't say I could blame 'em.

In fact, go get 'im and nail his nads to the wall. Piling it on is now clearly justified. Strip him of everything everywhere. Squish him now once and for all.

Edited March 23, 2010 by Publicus

[Samuian]

Greed is the worst adviser and makes a terrible companion!

His case is an exceptional example!

[MrJohnson]

Greed is the worst adviser and makes a terrible companion!

His case is an exceptional example!

The root of all evil avarice.

[MrJohnson]

Greed is the worst adviser and makes a terrible companion!

His case is an exceptional example!

The root of all evil avarice.

The root of all evil is avarice

[selftaopath]

I almost feel sorry for the guy.

Yeah, the Supreme Court judgement was balanced and judicious, but given that Thaksin denounced the court and it level headed ruling, and now is associating with more gangsters and mobsters in more countries while he has his Redshirts motorcycling around Bangkok and rallying again to topple the government on the coming weekend, it seems parliamentarians in the government have decided to strip Thaksin of anything and everything he has or could have or get.

Can't say I could blame 'em.

In fact, go get 'im and nail his nads to the wall. Piling it on is now clearly justified. Strip him of everything everywhere. Squish him now once and for all.

I hope so. And while they are at it might then keep him from broadcasting his anti govt rhetoric into Thailand. GEEZE seems like a "no brainer." "Somebody" monitors/censors the internet e.g. youtube etc soooooooooooooooooooooo keep his square face outta here!!!!!

[siampolee]

Ah that erudite chappy Thaksin you remember this.

''Oh what a tangled web we weave when we practice to deceive''

Liars have to have very good memories.

[Donnyboy]

who would ever had thought, he was once almost untouchable, not so long ago

[Samuian]

Ah that erudite chappy Thaksin you remember this.

''Oh what a tangled web we weave when we practice to deceive''

Liars have to have very good memories.

Alzheimer?

Is it this why he FORGOT to declare some 56 Million Shares and

replied for his defense in Court that he has sooooooo much and is so incredible wealthy,

that it is impossible to know all assets owned so it was an "honest mistake" not to declare these assets!?

And that was why he was finally let off....!

...som'thin' s' a bit fishy out there...

[wonder6281]

Why doesn't LOS have a secret hit squad like the Israeli's, Americans, Russians, British and any other country you might want to mention?

[Wolfie]

Why doesn't LOS have a secret hit squad like the Israeli's, Americans, Russians, British and any other country you might want to mention?

Cos if we knew about it, it wouldn't be a secret

[wonder6281]

ok, I see. the CIA, KGB, MI5 etc dont' have hit squads because we know about them. Gotcha!

[siampolee]

Samuian.

Methinks had Thaksin eaten ''Fishy food", Alzheimer would't be so severe according to the medical experts .

Edited March 23, 2010 by siampolee

[Insight]

The courts shouldn't bother with any sort of leniency with this case - they've got no reason to prove anything to anyone now.

If Thaksin is found to of caused x billion baht worth of damages, take x billion and then some.

[SlumdogMillionaire]

Why doesn't LOS have a secret hit squad like the Israeli's, Americans, Russians, British and any other country you might want to mention?

Cos if we knew about it, it wouldn't be a secret

Ha, quality!

[cougar52]

I really do not feel sorry for him not one bit. In the true sense of the Thai my phen lie the Government, Army, Elite what ever I think were going to let him to have his money, his freedom and then he decided to keep it up. Now, after the case is judged he wants to make more waves, so , yes, take everything and let him wonder what happened. Maybe he can come back and work in the rice fields under so poor farmer's supervision for 200 Baht a day...just punishment.

[Samuian]

Samuian.

Methinks had Thaksin eaten ''Fishy food", Alzheimer would't be so severe according to the medical experts .

Like "Diphyllobothriasis"?

The adult worm, which is segmented, may reach 30 feet in length with around 3,000 segments. The eggs are formed in each one of the segments and are passed still immature in the feces (up to 1,000,000 eggs each tapeworm).

..usually settles only in the smaller intestines...

but in some cases it looks like it migrates..

Ah' well I still wonder why he doesn't let go... he still could lead a wonderful life,

playing golf all day, yachting, Cook Islands, Turk & Caicos Islands tripping the

world - instead he's entangled in this mess.... with a highly uncertain outcome,

certainly not a winner for him!

Why he's so much hooked to this power game?

[ratcatcher]

I just counted 19 posts and not one supporter of Thaksin Shinawatra so far.

Speaks volumes.

[Wolfie]

Why he's so much hooked to this power game?

It's a good question, "Greed" is the only answer i can think of...

With the kind of money he has got (had) he could have set himself up anywhere and spent the rest of his days in total luxury and still left enough cash for his grandchildren's grandchildren to live it large.

He obviously has an excellent business mind as well, as he seems to be doing now, he could have used that ability on the world stage to create a powerful corporation to make his family even more money and then influenced governments from the sidelines...

Power corrupts, and total power corrupts totally.

[Publicus]

Why he's so much hooked to this power game?

It's a good question, "Greed" is the only answer i can think of...

With the kind of money he has got (had) he could have set himself up anywhere and spent the rest of his days in total luxury and still left enough cash for his grandchildren's grandchildren to live it large.

He obviously has an excellent business mind as well, as he seems to be doing now, he could have used that ability on the world stage to create a powerful corporation to make his family even more money and then influenced governments from the sidelines...

Power corrupts, and total power corrupts totally.

Delusions of grandeur -his own of course - to be sure.

Edited March 23, 2010 by Publicus

[ratcatcher]

Why he's so much hooked to this power game?

It's a good question, "Greed" is the only answer i can think of...

With the kind of money he has got (had) he could have set himself up anywhere and spent the rest of his days in total luxury and still left enough cash for his grandchildren's grandchildren to live it large.

He obviously has an excellent business mind as well, as he seems to be doing now, he could have used that ability on the world stage to create a powerful corporation to make his family even more money and then influenced governments from the sidelines...

Power corrupts, and total power corrupts totally.

Wolfie, I partly agree with your analysis, but consider the other choice he had.

Here is a man wildly popular in many regions of the country.

Had Thaksin been a man of real character he could have returned to Thailand, been wildly greeted by his adoring fans, served a token two year jail sentence, probably still have many billions of baht left and then he could have, as you say, used his business acumen to help the Isaan or poor people, he purports to love, with the building of schools, clinics and assisting with small loan schemes etc.

He would have partially redeemed himself if only he could keep that big mouth of his closed.

The tragedy is that he is utterly corrupt and greedy and so will never be satisfied with his status quo.

Reminds me of Freddie Mercury singing "I want it all, and I want it now"

For him the only way is down. He has pi$$ed on the shoes of too many powerful people in Thailand and elsewhere.

[ThailandTommy]

He has had his trousers pulled down and bent over now they are going for full unprotected penetration, there is a legal term for this procedure its called being totally F%&$ed.

What I can’t understand is that in a country where it is almost impossible to get a 10 baht refund from 7/11, what possessed him to think he was going to get his hard earned cash back?

[Samuian]

Why he's so much hooked to this power game?

It's a good question, "Greed" is the only answer i can think of...

With the kind of money he has got (had) he could have set himself up anywhere and spent the rest of his days in total luxury and still left enough cash for his grandchildren's grandchildren to live it large.

He obviously has an excellent business mind as well, as he seems to be doing now, he could have used that ability on the world stage to create a powerful corporation to make his family even more money and then influenced governments from the sidelines...

Power corrupts, and total power corrupts totally.

I agree with the first and last line in your reply, but the "excellent business man" doesn't want go down at all!

Roughshod ruthlessness alloyed with an humongous alter ego, which later turned, with increasing power into recklessness,

driven by unprecedented rapacity which did grow progressively with success, at best!

None else can explain what he is engaging, at present in, considering other possibilities which have been discussed, like living a Monte Carlo life at it full throttle....on the sunny side of life, not to worry about anything... why is he engaging in this senseles battle, which can't be won by him, is it delusion?

[kerm99]

Three words for Abhisit government

LET IT GO!!!!!!!!!!!!!!!!

Stop worrying about Taksin, start running the country. You tried the guy, you found him guilty, its over

If Abhisit wants to win the next election, he needs to start governing, all he can do now is Taksin bashing.

I am not a pro-taksin or a pro-abhisit, i just want this country to move, enough of this statu quo

Kerm

[givenall]

I almost feel sorry for the guy.

Feel sorry for me every time he and his Red gang make trouble for Thailand my business alone with bunch of other business lose a lot of money

I guess he might as well kiss the rest of the money goodbye

[Thormaturge]

Why doesn't LOS have a secret hit squad like the Israeli's, Americans, Russians, British and any other country you might want to mention?

Because Thai's can't keep a secret. They would be on the front page of every magazine bragging about who they had shot every week.

[LomSak27]

Yeah, the Supreme Court judgement was balanced and judicious

I just counted 19 posts and not one supporter of Thaksin Shinawatra so far.

Speaks volumes

.

So I am going to be categorized as a Thaksin supporter for stating the obvious; Thaksin will be hit with everything the government can throw. However this makes Thaksins government no less nor more corrupt than the current government or the ones that proceeded Thaksin.

As the years go by, even some of the hard core Leo and singlet expat brigade will come to the understanding that this was not about cleaning up corruption, it was about trying to defang Thaksin. Both The Nation and the PAD have stated this! Corruption will continue as it has, no better no worse. At which point you might ask yourself why did I get so worked up about Thaksin when he is no different than the rest and removing did nothing to benefit the country or reduce it's endemic corruption?!

Just telling the truth however unpalatable this may be, deal with it.

[dominique355]

With over US$ 2 billion frozen in Thailand, Thaksin is still able to actually buy and maintain his one private jet, numerous properties all over the globe (Dubai, London, Montenegro etc.) . He must have billions outside Thailand concealed from tax and ASC.

Now where did all that come from?

Edited March 23, 2010 by dominique355