Thaksin In Megabucks Spat With Emirati Lawyer

[Thai at Heart]

I see that the other newspaper is reporting that the lawyer has been jailed.

Nice to see a country with something akin to a nonnegotiable rule of law.

[h90]

What does that mean?

Thaksin won or lost?

[waza]

Lawyer claims conspiracy against ex-Thai PM in embezzlement case

Lawyer of man charged with embezzlement claims former Thai PM is being favoured in the case

• By Bassam Za’Za’, Legal and Court Correspondent
  
• Published: 00:00 May 11, 2012, GULF NEWS
  

“Prosecutors supported Shinawatra, who himself is an outlaw and wanted in his country, against my client. Prosecutors did so to blackmail my client and to coerce him to settle the dispute,” K.K.’s lawyer Mukhtar Abdul Raouf argued before the Dubai Misdemeanour Court yesterday.

The suspect earlier denied embezzling Shinawatra’s $25.45 million (Dh94 million) and Dh39.5 million villa in Emirates Hills. He also denied forgery and attempts to defraud a Global XRS private of $48 million............

Although the case was referred from the court one year ago for further investigation, according to Abdul Raouf, prosecutors failed to carry out the court’s orders.

He rejected the “inappropriate” way Al Kayyoumi described his client at the beginning of the trial.

The defence lawyer said the figures mentioned in the charge sheet were “hilarious, unfounded and illogical”.

A verdict will be heard on June 28.

http://exceladvocates.com/?page_id=233

[waza]

The verdict was the un-named lawyer is guilty and sentenced to three years in prison for breach of trust but was acquitted on charges of embezzlement and forgery. He will appeal.

[F430murci]

Muhairy just another crooked Dubai lawyer. Dubai quickly became a large international banking hub for a reason. Not sure I would believe anything a Muktar Abdul had to say either.

Edited July 15, 2012 by F430murci

[ThaiOats]

Time to move the mob over to Dubai.

[KeyserSoze01]

I am sure Thaksin is really stressed by this

he is probably scrabbling down the back of the couch now trying to find a few coins for his dinner

The fact is he probably richer than the whole of this forum put together, maybe that is why there are the usual snide jealous remarks from the usual snide jealous posters

50 million here, 50 million there, after a while it starts to add up to real money!!!

[slapout]

The verdict was the un-named lawyer is guilty and sentenced to three years in prison for breach of trust but was acquitted on charges of embezzlement and forgery. He will appeal.

The fact that no mention of the monies being returned, by the court, to Thaksin brings up a question or two. Another example of winning the battle but not the war???? The overflowing wallet can sometime cost much more than the gains which were hoped for.

[waza]

Why is Thaksin so determined to get an Amnesty and the return of his corrupted money? Its because he is no longer a billionaire..........

Thailand's top court on Friday seized $1.4 billion of former premier Thaksin Shinawatra's family assets for abuse of his power, far less than expected, in a ruling that could appease some anti-government forces.

The nine-judge Supreme Court said Thaksin had concealed ownership of shares in his family telecommunications conglomerate Shin Corp during five years in office and tailored government policies to benefit the company.

But in what many saw as a compromise aimed at preventing a violent reaction, the court returned $900 million in frozen assets to Thaksin, a former telecoms mogul who won two elections in landslides before he was ousted in a 2006 coup. http://www.reuters.c...E61P0IZ20100226

The Thai Supreme Court seized $1.4 billion of Thaksin’s wealth in 2010 for abuse of power, estimated to be more than half of his fortune. http://www.thebaliti...’/

Second, the

sources

say the

UK Treasury has quietly seized some $4 billion believed to belong to Thaksin.

Believing the money came from dubious tax havens, the Treasury originally froze the amount in 2008 in a procedure that would allow the rightful owner came forward to declare ownership, according to the sources. However, the time limit recently expired with no one claiming ownership,

leading the Treasury to seize the money outright,

the sources say.

http://asiancorrespo...o-the-russians/

Of the US$4.2 billion being frozen by the UK authorities, US$1.4 billion represents Thaksin’s core money, plus US$40 million in futures trading margin, US$300 million in Swiss bank core money excluding margin money and US$300 million core money in Dubai. The rest is debt. http://antithaksin.w...st-500-million/

Where did this debt come from?

A

government source

also said Thaksin was believed to have borrowed money from a Russian oil company to finance his political comeback.

“He’ll be in big trouble with the Russians if he cannot repay that debt,” the source said. “But wherever he goes, he likes to have his photo taken with VIPs, to assert his status.”

The amount of the loan he took from Gazprombank is not known, but it could be to the tune of US$1.5 billion.

Thaksin used this money to invest in Dubai. As we all know, Dubai is facing a financial meltdown. Dubai World, the state-owned corporation, is seeking a delay of payment in its debt, which amounts to $59 billion. Thaksin is facing huge losses after his foray into the Dubai market.

Former PM hit by global slowdown, so $2 billion frozen in Thai banks is now more important

http://asiancorrespo...o-the-russians/

In addition he has spent billions on the red protests and political bribes and now a Dubai lawyer has embezzling Shinawatra’s $25.45 million (Dh94 million) and Dh39.5 million villa in Emirates Hills.

Ex-prime minister Thaksin Shinawatra was believed to have $5 billion of overseas assets in nominal value as stock markets were peaking, oil was trading at US$140 a barrel and Middle East real estate was going up every day. But, with the collapse of the global financial markets and the commodity prices, Thaksin’s core money is now believed to be worth not more than US$500 million.

“By my calculations, the core money is not worth much more than US$500 million at today’s liquidation value, and Thaksin’s capacity to hold on to the debt is diminishing fast, by the day. So, in brief, his net worth has declined from a notional figure of US$5 billion to the present value of US$500 million,” said the international financier, who asked not to be named. http://antithaksin.w...st-500-million/

He needs to get his snout back into the trough.

Edited July 16, 2012 by waza