Prosecutor Indicts Thaksin In State Bank Loan Scandal

[Lite Beer]

Prosecutor indicts Thaksin in state bank loan scandal

BANGKOK, June 13 - The Attorney General indicted ousted prime minister Thaksin Shinawatra and 27 others on Wednesday for alleged malfeasance involving a state-owned bank's loan extentions to a debt-ridden major real estate company and its subsidiaries while the Supreme Court announced it would rule on July 25 whether to accept the case for deliberation.

Attorney-General Chulasingh Vasantasingh assigned a prosecutor to bring 17 boxes containing 150 files of evidence to the Supreme Court's Criminal Division for Holders of Political Positions seeking prosecution against Mr Thaksin, former Krung Thai Bank President Viroj Nualkae and 27 others for malfeasance and corruption.

The Attorney-General Office (OAG) spokesperson Winai Damrongmongkolkul said the indictment was a decision jointly made by a working team of prosecutors and the Office of the National Anti-Corruption Commission after they found that there were sufficient grounds to indict Thaksin and 27 others.

Supreme Court president Phairoj Vayuparb will call a meeting of all the supreme court judges to select a bench of nine judges to consider the case.

The long-running case was dated back to 2008 when the now-defunct Assets Examination Committee (AEC) set up by the 2006 coupmakers submitted evidence and recommended the OAG to indict Mr Thaksin on malfeasance charges involving Krung Thai Bank's Bt9.9 billion in non-performing loans provided to three subsidiaries of the debt-ridden Krisada Mahanakorn real estate company.

Mr Thaksin was charged for allowing the bank to grant the large amount of loans when he was a premier.

According to the AEC investigation, Mr Thaksin's son, Panthongtae Shinawatra was found guilty of embezzlement charges involving the bank loans, but he was not among the 27 persons indicted by OAG.

The case had been transferred to the anti-corruption agency after the AEC's term ended. The agency submitted the case to the prosecutors in 2008.

Mr Thaksin and another 27 defendants, including the bank executives, loan recipient companies and their management, were charged with jointly committed wrongdoings by involvement in the bank's loan extensions which failed to meet existing criteria and caused damage to the state's economy. (MCOT online news)

-- TNA 2012-06-13

[otherstuff1957]

Well, it's a good thing that the reconciliation bill hasn't been passed yet.... Now they will have time to change the dates on it before it goes to a vote!

Edited June 13, 2012 by otherstuff1957

[MikeOboe57]

This explains why PTP wanted to rush the "reconciliation" bills through Parliament

[pedro01]

This explains why PTP wanted to rush the "reconciliation" bills through Parliament

Indeed - should be even tougher now...

God help us....

[bigbamboo]

Will he sue the AG for defamation as well?

[GentlemanJim]

You know what, however much you loath the conduct of Thai politicians, you have just got to laugh, there is NEVER a dull moment. It is absolute frigging comedy. What will be even greater comedy will be waiting for the TV red apologists take on this. Time to get the popcorn and sit back. I simply can't wait

Edited June 13, 2012 by GentlemanJim

[mamypoko]

You know what, however much you loath the conduct of Thai politicians, you have just got to laugh, there is NEVER a dull moment. It is absolute frigging comedy. What will be even greater comedy will be waiting for the TV red apologists take on this. Time to get the popcorn and sit back. I simply can't wait

How true. And what about the Yellow TV partisans. Baseball anyone?

[GentlemanJim]

You know what, however much you loath the conduct of Thai politicians, you have just got to laugh, there is NEVER a dull moment. It is absolute frigging comedy. What will be even greater comedy will be waiting for the TV red apologists take on this. Time to get the popcorn and sit back. I simply can't wait

How true. And what about the Yellow TV partisans. Baseball anyone?

Whatever game, I am sat back eager to watch

[Misterwhisper]

It's becoming so crystal clear now why that "reconciliation" bill had to be rushed in such a hurry. If "reconciliation" had sailed through, there now wouldn't be a case for indictment of T and cohorts. Although malfeasance allegedly occurred 'when he was a premier' (i.e. prior to 14 September 2006) the AEC submitted its recommendation to the AG to prosecute the case only at some point in 2008, a time which would have been covered by the bill and thus would've automatically absolved Thaksin.

This government really IS a lacky of the Big Bad Wolf in Dubai.

[ratcatcher]

1.) NACC: Deputy PM Yongyuth found guilty in Alpine case

2.) Prosecutor indicts Thaksin in state bank loan scandal

Today's news. What's going on here, have I missed a chapter?

I guess those chickens are starting to come home to roost. Interesting days ahead.

[ThaiOats]

I think from the Red's angle, they'd probably view it as some sort of conspiracy by the 'elites' to make sure Thaksin gets all the blame and that their idol can never do wrong. I'm pretty sure another video-link is due to explain exactly how he's being wronged by the elites of Thailand. Kinda predictable.

[givenall]

Will he sue the AG for defamation as well?

Hopefully keep everyone busy for a long time and may be the Thai people finally wake up and do the right thing and get rid of these crooks and their puppet government once for all

[MAJIC]

Let's see some more impending prosecutions,the more charges Thaksin has to answer,will help delay his return,which must be good for the Country.

[GentlemanJim]

No doubt Jatuporn is busy trying to write a 5 hour speech for red radio tomorrow. I can feel a call to arms coming on for the red shirts. I bet skype traffic between Thailand and Dubai is busy tonight.

We have a very interesting situation here. Only a week ago the Attorney General said that the third reading and subsequent vote on the reconciliation bill would be legal. All the PTP and red mafiosa were singing his praises and calling him a great Attorney General. Now the AG indicts Thaksin and lots more beside. Can the AG, the reds and PTP hero last week become son of satan this week?

I am a little confused as to why Thaksin's son has escaped charges. Do you think he has done a plea bargain and turned state witness

Where are the usual crowd that defend Thaksin? Some are normally on at this time, is this all too much? Mbwahaaaa!

[rubl]

No doubt Jatuporn is busy trying to write a 5 hour speech for red radio tomorrow. I can feel a call to arms coming on for the red shirts. I bet skype traffic between Thailand and Dubai is busy tonight.

We have a very interesting situation here. Only a week ago the Attorney General said that the third reading and subsequent vote on the reconciliation bill would be legal. All the PTP and red mafiosa were singing his praises and calling him a great Attorney General. Now the AG indicts Thaksin and lots more beside. Can the AG, the reds and PTP hero last week become son of satan this week?

I am a little confused as to why Thaksin's son has escaped charges. Do you think he has done a plea bargain and turned state witness

Where are the usual crowd that defend Thaksin? Some are normally on at this time, is this all too much? Mbwahaaaa!

Don't worry, pro and con artists will pop up eventually. Some may be 'tied up' with the E12 Denmark - Portugal game, 1 - 2 playing in second half. Maybe a few locals even went out to watch the game

[GentlemanJim]

No doubt Jatuporn is busy trying to write a 5 hour speech for red radio tomorrow. I can feel a call to arms coming on for the red shirts. I bet skype traffic between Thailand and Dubai is busy tonight.

We have a very interesting situation here. Only a week ago the Attorney General said that the third reading and subsequent vote on the reconciliation bill would be legal. All the PTP and red mafiosa were singing his praises and calling him a great Attorney General. Now the AG indicts Thaksin and lots more beside. Can the AG, the reds and PTP hero last week become son of satan this week?

I am a little confused as to why Thaksin's son has escaped charges. Do you think he has done a plea bargain and turned state witness

Where are the usual crowd that defend Thaksin? Some are normally on at this time, is this all too much? Mbwahaaaa!

Don't worry, pro and con artists will pop up eventually. Some may be 'tied up' with the E12 Denmark - Portugal game, 1 - 2 playing in second half. Maybe a few locals even went out to watch the game

Ah! As a True customer I had forgotten all about that My plan B was forget plan A to Z and do something else instead

[Skywalker69]

"According to the AEC investigation, Mr Thaksin's son, Panthongtae Shinawatra was found guilty of embezzlement charges involving the bank loans, but he was not among the 27 persons indicted by OAG."

[ThaiOats]

"According to the AEC investigation, Mr Thaksin's son, Panthongtae Shinawatra was found guilty of embezzlement charges involving the bank loans, but he was not among the 27 persons indicted by OAG."

I seriously think there's something wrong with this whole scenario as if it's just another plan from the man in Dubai. He's got people dancing all over the place.

[theblether]

Only asking so don't shout at me!! Would the fact that P.Shinawatra has already been convicted in this matter not be the reason why he hasn't been indicted again?

Can you convict a guy twice for the same offence?

[ThaiOats]

Only asking so don't shout at me!! Would the fact that P.Shinawatra has already been convicted in this matter not be the reason why he hasn't been indicted again?

Can you convict a guy twice for the same offence?

Actually, I don't think he's convicted for this one yet. It's just one of many.

[otherstuff1957]

The Forum Reds have been amazingly quiet over this one, so on their behalf I will point out that the timing of this indictment is rather suspicious:

1. Conflict between the Constitutional Court & Parliament.... 2. Thaksin in indicted!

[webfact]

Thaksin hit with court case over KTB loans

Kesinee Taengkhiew

The Nation

Panthongtae dropped from trial; 'charges against ex-PM may be shelved if he does not attend hearings' in the Supreme Court

BANGKOK: -- Attorney General Julasing Wasantasing yesterday launched a Bt9-billion lawsuit that accuses former prime minister Thaksin Shinawatra and 27 accomplices of involvement in fraudulent Krung Thai Bank loan transactions.

But an informed source said that if public prosecutors could not get key defendants such as Thaksin to face court, parts of the case relating to the ex-PM may be temporarily shelved.

Thaksin is currently a fugitive from justice, having fled abroad in late 2008 prior to the handing down of a two-year jail term by the Supreme Court's Criminal Division for Political Office Holders. That ruling came in another corruption case, relating to the purchase of a prime block of land on Bangkok's Ratchadaphisek Road.

'17 boxes of evidence'

In the Krung Thai Bank (KTB) case, state prosecutors submitted a writ citing an anti-graft report and 150 files in 17 boxes of evidence.

The case will be tried at the Supreme Court's Criminal Division for Political Office Holders. The high court is expected to convene its first hearing on July 25 after a nine-judge tribunal in charge of the case is named.

"The public prosecutors and graft busters have reached a joint decision to try Thaksin and 27 accomplices and exclude Thaksin's son Panthongtae and other family members from

the litigation," prosecution spokesman Winai Damrongmong-kolkul said.

Earlier, the graft investigation found that funds from the alleged fraudulent loans had been routed through Panthongtae's bank accounts. The prosecution has decided, however, not to try Panthongtae, who is not an office holder and thus not under the purview of the high court's fast-track process for graft offences.

The case came to light after the 2006 coup government formed the Asset Examination Committee to look into alleged graft violations involving Thaksin.

One of the cases taken by the AEC involved a complaint filed by the Bank of Thailand against the Krung Thai Bank over three suspicious transactions.

The AEC's mandate expired before it reached the trial stage. But

the National Anti Corruption Commission picked up on the AEC probe and ruled that it suspected foul play.

In June 2008 the NACC submitted the case for prosecution review. A joint panel of prosecutors and "graft busters" was set up to build the case and collect additional evidence.

The central claim of the prosecution is that then prime minister Thaksin abused his office to influence the bank's decision to grant loans to real-estate developer Krisda Mahanakorn despite the company's poor credit rating.

The alleged fraudulent deals happened when Viroj Nualkhair, one of the key defendants, was the managing director of KTB.

The deals allegedly involved a scam to bypass the credit rating to allow the bank to arrange loans to proxy companies in order to channel funds to Krisda Mahanakorn. The transactions were subsequently classified as non-performing loans.

The list of defendants can be divided into three groups: Thaksin, as office holder exerting influence over the loans; Viroj and the bank's board of directors; and three companies including Krisda Mahanakorn.

'Graft violations'

The prosecution contends that the defaulted loans were graft violations due to adverse impacts on the state-run bank.

The case will focus on three transactions. The first two are a Bt500-million loan granted to RK Professional Co Ltd and an Bt8-billion credit line extended to Golden Technology Industrial Park, which also received a Bt500-million loan for land purchase and Bt1.4-billion loan for project development.

The remaining transaction was the financing for a Bt1-billion sale of convertible preferred stocks between Krisada Mahanakorn and Grand Computer Communication. All these transactions took place during Thaksin's time as prime minister.

-- The Nation 2012-06-14

[jerrysteve]

Should not Thaksin's son also be indicted on Embellezzment Chargers?

[Reasonableman]

Should not Thaksin's son also be indicted on Embellezzment Chargers?

Not apparently within the jurisdiction of this court.

[TheGhostWithin]

Does the Thai justice system (civil or criminal or both) allow for previous judgements to be made aware for the judge(s) to assist in establishing if the event did or was likely to take place?

If the system does cater for this situation, I would assume acquitting the named offender (and 27 others, who may or may not be linked to other tainted deals) would have an impact on the outcome of this case, simply by sheer momentum of the transfer of power back to T. Shinawatra? It would be interesting to see if they decide to mute previous judgements on an official level as to not affect the outcome of this case, acquit the accused of previous charges prior to the final judgement of this case (thus decreasing the chances he would be found guilty here) or uphold current charges, making it more likely that he would be found guilty.

This is Thai Politics, and considering we as foreigners are not allowed to take part at any level (god forbid if America had this policy combined with Thailand's permanent immigration polices), it does not bother me either way that things are handled. But it will be these background actions taken by the government and judicial system which will surely have a large impact in this case. We know that T. Shinawatra can and has attempted to influence individual cases in the past by political and financial influences.

[bangkokdavie]

"But an informed source said that if public prosecutors could not get key defendants such as Thaksin to face court, parts of the case relating to the ex-PM may be temporarily shelved."

The get out clause !! Wonder what the statue of limitations is on this ?

[jonclark]

"But an informed source said that if public prosecutors could not get key defendants such as Thaksin to face court, parts of the case relating to the ex-PM may be temporarily shelved."

The get out clause !! Wonder what the statue of limitations is on this ?

Hopefully 20 years - which means Taksin will be 'absent' from Thailand for it's duration(hopefully) and will probably be either a very old man or dead before or after it expires.

[Ricardo]

Time for a chorus from the usual suspects of "It's all political", "But we just got 48,4% in an election" and "We didn't read about this scandal in Red-News", isn't it ?

And the usual refrain from the current PM of "I haven't been briefed yet" and "I wasn't there ... I'm inspecting the floods in Den Chai ... oops, not that there are any floods, of course, they're another misconception" .

Amazing Thailand ... you couldn't make it up !

[waza]

<<<<<<<<<<<WARNING CONSPIRACY THEORY>>>>>>>

Thaksin hasnt been charged yet it is just an indictment, this may be an excersize to clear all Thaksins outstanding charges......Supreme Court president Phairoj Vayuparb will call a meeting of all the supreme court judges to select a bench of nine judges to consider the case.

Its up to these judges.

Remember........2008

Pojaman, 50, her brother Bannaphot Damapong and her secretary Pennapa Honghern were found guilty of evading $16.3 million in taxes and providing false testimony in relation to a 1997 transfer of 4.5 million shares in Shin Corporation, the telecommunications conglomerate formerly owned by Thaksin and his family.

Read more: http://www.time.com/...l#ixzz1xiiWwVFa

..................2011..............

The ex-wife of ousted Thai Prime Minister Thaksin Shinawatra has been acquitted of tax evasion on appeal.

Pojaman na Pombejra had been facing a three-year jail term in connection with the sale of companies by her then-husband Mr Thaksin.

But the Bangkok Appeals Court found that there was insufficient evidence to support a 2008 lower court ruling. http://www.bbc.co.uk...acific-14643008

Unless this is part of the deal between the Pojaman's faction and the Privy council, where they stay in government if Thaksin stays overseas. This deal may or may not include a seat on the Privy council.

That begs the question whos hand puppet is Yingluck the PM and soon Defence Minister???????

And what happens to the Thaksin faction headed by Charlem and icludes "The Club"???????

Edited June 14, 2012 by waza

[Yunla]

'17 boxes of evidence'

Those were from that one day when Thaksin's industrial paper-shredder was broken.