Thaksin bids for Montenegro island : foreign media

May 12, 2009 · Leave a Comment

Fugitive ex-Thai prime minister Thaksin Shinawatra is bidding to buy a mortgaged island, which is also known as Hawaii, in Montenegro.

The First Bank of Montenegro advertised out-of-court sale of the part of Sveti Nikola Island near Budva at the initial price of 21 million Euros.

The island of Sveti Nikola, also known as Hawaii, is located less than a kilometer away from Budva and it has three sandy beaches spreading on 840 meters, according to Visit-Montenegro online.

"Among potential buyers there were allegedly some Englishmen, Russians, Belgians and Arabs, and according to recent information published by media the former Thailand's Prime Minister Shinawatra Thaksin who got Montenegrin passport was also at play. It is still not known where Shinawatra got a Montenegrin passport from," the online reported.

At the first auction launched a couple of months ago, the famous Hawaii were offered at price of 28 million Euros. The land for different purposes covering an area of more than 37 000 square meters has been offered for sale together with the existing facilities.

The public auction is scheduled for May 23 at the premises of the bank in Budva.

The owner of the island is Serbian businessman Stanko Subotic who is indebted to the bank.

Subotic purchased the most beautiful part of the island in 2007 from Nenad Djordjevic for over 20 million Euros.

After the purchase, Subotic announced big investment plans which included connecting the island with the mainland, building hotels, villas, marina and additional facilities but he was prevented from carrying out his plans after Serbia declared him a wanted person under the suspicion that he was involved in cigarette smuggling and thus caused damage to the country.

According to well-informed sources, Subotic then planned to sell the island and on the basis of this story there were rumors over the last year of potential buyers and amounts of money they offer for the island.

The Nation

Sorry, a tipo error in the title it should be of course Montenegro.

Nobody knows anything about this ?

Did Thaksin bought this island or did he pull out ?

Just got off the phone with him, it's in escrow

My informed sources say the purchase is dependent on his application approval for a fire/riot policy of the purchase price plus 25%.

He bought it and renamed it 'Dr Evil's Secret Lair'. It was from here that he masterminded the recent red shirt protests. (This was in The Nation - so it must be true.)