' Crony' Of African Strongman Among Thai Names In Secret Offshore Files

[Buchholz]

'Crony' of African Strongman Among Thai Names in Secret Offshore Files

Nearly 600 Thais have owned offshore companies in the British Virgin Islands and other havens. Politicians and billionaire business magnates are among the prominent Thais listed in secret documents as owners of offshore holdings in tropical tax havens.

The list includes the former wife of ousted Prime Minister Thaksin Shinawatra, a sitting senator, a former high-ranking defense ministry official, Forbes-listed tycoons, and a former government minister whose assets in the United States are frozen because of her alleged links to Zimbabwean dictator Robert Mugabe.

Documents obtained by the International Consortium of Investigative Journalists (ICIJ) and examined by Bangkok-based news portal Isra show nearly 600 Thais owning offshore companies in overseas havens such as the British Virgin Islands (BVI) and the Cook Islands. Some of the entities owned by politicians have been previously self-declared under tough local anti-graft laws, but at least one may have escaped scrutiny from authorities.

Continued:
http://www.icij.org/offshore/mugabe-crony-among-thai-names-secret-offshore-files

International Consortium of Investigative Journalists - April 3, 2013

Link to Photo:

http://www.icij.org/offshore/mugabe-crony-among-thai-names-secret-offshore-files
Nalinee Taveesin: Thailand's former Minister to the Prime Minister's Office and current International Trade Representative whose U.S. assets are frozen because of her alleged links to Robert Mugabe.
Photo: AP

Edited April 5, 2013 by webfact

[ZhouZhou]

nothing wrong with owning one or two offshore companies or even more.

[Buchholz]

nothing wrong with owning one or two offshore companies or even more.

In the case of Thailand's International Trade Representative and Yingluck Cabinet Appointee Nalinee.... lying and concealing hidden assets IS wrong, illegal even.

What is also suspect is Thaksin's Potjaman's financial dealings during a time when she was being investigated for tax evasion.

.

.

[rubl]

I only wish I had the money to need an offshore company to manage it. Unfortunately I'm not one of the Amply Rich people

[jamhar]

offshore banks are getting harder to use.

they will be buying up gold, works of art and other precious items as a hedge

but those things aren't liquid

As long as there is a demand, someone will step up to fill it.

Dubai and UAE's outlook just got brighter.

I looked in my pocket,

i'm about $10M shy to pick up a Picasso.

I guess i don't have to worry about making alternate plans

[Pimay1]

It appears that all these lovely people in the article with offshore bank accounts and companies have the Sgt. Schultz syndrome. "I know nothing".

[Rimmer]

Flame and a quoted reply removed

[manarak]

This is stolen data.

Apparently hackers penetrated a lot of email servers and syphoned data out from there.

The first "list" published only contains one name per country and only persons without any power, i.e. no-risk targets for the journalists.

Many leftist comments of the journalists are consternating, such as "the rich use secrecy tools unavailable to the general public to own and manage their mansions, yachts, etc.".

That's rubbish, a BVI company only costs around 2000 to 3000 USD per year including a nominee director, so that's very accessible.

What's inaccessible is the wealth required to buy the yachts and mansions, and that's what makes the "general public" jealous and out for revenge.

In countries like France, where a majority of people are against the rich, where people can just vote to grant themselves money, where companies cannot lay off employees, where the government STEALS over 50% of one's earnings... leaving the country is what people who can derive income from abroads do. Those who must stay because their business is in France and cannot leave because nobody wants to buy their business only have offshore companies as a solution for their retirement plan.

But maybe the revelation of all offshore wealth owners is a two-edged sword. I very much hope this will wake up the poewerful and rich who previously just let the idiot politicians do what they wanted in their country, knowing that they have stashed their wealth away safely.

If the rich and powerful are forced to come back they will also be forced to exert again more influence over politics and make sure the looneys such as the French socialists or the German greens/SPD have no more say in managing the country.

Atlas Shrugged... a very contemporary tale.

[chainarong]

I can see nothing wrong in having an o/shore account as an individuale, however some governments are hell bent on destroying that privilege, they don't seem to like you paying tax at 22%, when they want you to pay 48%, The Australian Government is obsessed with this concept, hence operation wickerby.

[TackyToo]

This is stolen data.

Apparently hackers penetrated a lot of email servers and syphoned data out from there.

The first "list" published only contains one name per country and only persons without any power, i.e. no-risk targets for the journalists.

Many leftist comments of the journalists are consternating, such as "the rich use secrecy tools unavailable to the general public to own and manage their mansions, yachts, etc.".

That's rubbish, a BVI company only costs around 2000 to 3000 USD per year including a nominee director, so that's very accessible.

What's inaccessible is the wealth required to buy the yachts and mansions, and that's what makes the "general public" jealous and out for revenge.

In countries like France, where a majority of people are against the rich, where people can just vote to grant themselves money, where companies cannot lay off employees, where the government STEALS over 50% of one's earnings... leaving the country is what people who can derive income from abroads do. Those who must stay because their business is in France and cannot leave because nobody wants to buy their business only have offshore companies as a solution for their retirement plan.

But maybe the revelation of all offshore wealth owners is a two-edged sword. I very much hope this will wake up the poewerful and rich who previously just let the idiot politicians do what they wanted in their country, knowing that they have stashed their wealth away safely.

If the rich and powerful are forced to come back they will also be forced to exert again more influence over politics and make sure the looneys such as the French socialists or the German greens/SPD have no more say in managing the country.

Atlas Shrugged... a very contemporary tale.

You mean someone stole and revealed the truth? What's wrong wit that?

[manarak]

This is stolen data.

Apparently hackers penetrated a lot of email servers and syphoned data out from there.

The first "list" published only contains one name per country and only persons without any power, i.e. no-risk targets for the journalists.

Many leftist comments of the journalists are consternating, such as "the rich use secrecy tools unavailable to the general public to own and manage their mansions, yachts, etc.".

That's rubbish, a BVI company only costs around 2000 to 3000 USD per year including a nominee director, so that's very accessible.

What's inaccessible is the wealth required to buy the yachts and mansions, and that's what makes the "general public" jealous and out for revenge.

In countries like France, where a majority of people are against the rich, where people can just vote to grant themselves money, where companies cannot lay off employees, where the government STEALS over 50% of one's earnings... leaving the country is what people who can derive income from abroads do. Those who must stay because their business is in France and cannot leave because nobody wants to buy their business only have offshore companies as a solution for their retirement plan.

But maybe the revelation of all offshore wealth owners is a two-edged sword. I very much hope this will wake up the poewerful and rich who previously just let the idiot politicians do what they wanted in their country, knowing that they have stashed their wealth away safely.

If the rich and powerful are forced to come back they will also be forced to exert again more influence over politics and make sure the looneys such as the French socialists or the German greens/SPD have no more say in managing the country.

Atlas Shrugged... a very contemporary tale.

You mean someone stole and revealed the truth? What's wrong wit that?

First, it is only part of the truth, and second, most people aren't able to correctly interpret the truth anyway.

[Pimay1]

This is stolen data.

Apparently hackers penetrated a lot of email servers and syphoned data out from there.

The first "list" published only contains one name per country and only persons without any power, i.e. no-risk targets for the journalists.

Many leftist comments of the journalists are consternating, such as "the rich use secrecy tools unavailable to the general public to own and manage their mansions, yachts, etc.".

That's rubbish, a BVI company only costs around 2000 to 3000 USD per year including a nominee director, so that's very accessible.

What's inaccessible is the wealth required to buy the yachts and mansions, and that's what makes the "general public" jealous and out for revenge.

In countries like France, where a majority of people are against the rich, where people can just vote to grant themselves money, where companies cannot lay off employees, where the government STEALS over 50% of one's earnings... leaving the country is what people who can derive income from abroads do. Those who must stay because their business is in France and cannot leave because nobody wants to buy their business only have offshore companies as a solution for their retirement plan.

But maybe the revelation of all offshore wealth owners is a two-edged sword. I very much hope this will wake up the poewerful and rich who previously just let the idiot politicians do what they wanted in their country, knowing that they have stashed their wealth away safely.

If the rich and powerful are forced to come back they will also be forced to exert again more influence over politics and make sure the looneys such as the French socialists or the German greens/SPD have no more say in managing the country.

Atlas Shrugged... a very contemporary tale.

You mean someone stole and revealed the truth? What's wrong wit that?

First, it is only part of the truth, and second, most people aren't able to correctly interpret the truth anyway.

And not like most people you are able to correctly interpret the truth right?

[webfact]

Bombshell: Nalinee, Potjaman, Carabao among nearly 600 Thais named in secret offshore files
By Coconuts Bangkok



BANGKOK: -- Nearly 600 Thai nationals have been revealed to own offshore companies in the British Virgin Islands and other tax havens, including:

-former government minister Nalinee Taveesin; whose assets in the US are frozen for doing business with Zimbabwe dictator Robert Mugabe

-Potjaman Na Pombejra, the ex-wife of former Prime Minister Thaksin Shinawatra

-musician and energy drink endorser Yuenyong Opakul a.k.a. Carabao

The data on offshore account ownership was made public by the International Consortium of Investigative Journalists.

Nalinee, who is currently Thailand’s international trade representative, was designated as one of four “Mugabe regime cronies” by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). She strongly denied the allegations, saying that her relationship with the Mugabes is “strictly social” and that she is a victim of guilt by association.

Full story: http://www.coconutsbangkok.com/news/bombshell-nalinee-potjaman-carabao-among-nearly-600-thais-named-in-secret-offshore-files/


-- Coconuts Bangkok 2013-04-05

[scorecard]

I can see nothing wrong in having an o/shore account as an individuale, however some governments are hell bent on destroying that privilege, they don't seem to like you paying tax at 22%, when they want you to pay 48%, The Australian Government is obsessed with this concept, hence operation wickerby.

Well the bottom line is that the jury is still out on whether all ctiizens (in any country) should pay their fair share of taxes.

The reality is that the middle classes who often have little reserves and little knowledge to 'off-shore' accounts as being discussed in this thread, and often no funds to deposit anyway, are the biggest provider of tax receipts which build the funds to provide health care, education, etc.

Wouldn't hurt the rich, who often do have the facilities to avoid taxes, to contribute a bit more.

Edited April 5, 2013 by scorecard

[bulmercke]

An individual's sole purpose for setting up an off shore company is to avoid (lessen) paying tax in their home country. This is a tax loophole plain and simple. Tax avoidance and evasion is primarily the name of the game and governments need to clamp down on this.

[ZhouZhou]

that the rich don't contribute to the society is a typical national socialist fairy tale.

[Buchholz]

Bombshell: Nalinee, Potjaman, named in secret offshore files

-former government minister Nalinee Taveesin; whose assets in the US are frozen for doing business with Zimbabwe dictator Robert Mugabe

-Potjaman Na Pombejra, the ex-wife of former Prime Minister Thaksin Shinawatra

.

Nalinee's ownership papers of Hall Kingston International Ltd. here:

https://www.documentcloud.org/documents/661032-21f9b7ae2ae97c16872d69f70049f350-312980-hall.html

Potjaman's ownership papers of Premium Select Inc. here:

https://www.documentcloud.org/documents/670378-b3b0ce16a5cbbce4666fd72ec1764162-402915-premium.html

.

Edited April 5, 2013 by Buchholz

[thaicbr]

An individual's sole purpose for setting up an off shore company is to avoid (lessen) paying tax in their home country. This is a tax loophole plain and simple. Tax avoidance and evasion is primarily the name of the game and governments need to clamp down on this.

Maybe if the governments of the world had one flat rate tax percentage this would not happen. I mean if you pay 20% tax on £10000 it will be more the tax on £1000.

Sent from my i-mobile i-STYLE Q6

[Pimay1]

The link to the article has been disabed. Anyone know why?

http://www.icij.org/...-offshore-files

[Ricardo]

An individual's sole purpose for setting up an off shore company is to avoid (lessen) paying tax in their home country. This is a tax loophole plain and simple. Tax avoidance and evasion is primarily the name of the game and governments need to clamp down on this.

Sorry to disagree, but another reason might be to hide money, for which one has no reasonable explanation of where it came from, and what was given in-exchange, commissions on concessions or contracts for example.

Or perhaps some people simply don't trust the banks in Cyprus anymore ?

Edited April 5, 2013 by Ricardo

[hullupullo]

The link to the article has been disabed. Anyone know why?

http://www.icij.org/...-offshore-files

Maybe just server overload, happened yesterday too

https://twitter.com/ICIJorg/status/319769861398097920

Thanks for your patience while our overloaded servers are refreshed. We'll be back up very soon 6:14 PM - 4 Apr 13

[Buchholz]

An individual's sole purpose for setting up an off shore company is to avoid (lessen) paying tax in their home country. This is a tax loophole plain and simple. Tax avoidance and evasion is primarily the name of the game and governments need to clamp down on this.

Sorry to disagree, but another reason might be to hide money, for which one has no reasonable explanation of where it came from, and what was given in-exchange, commissions on concessions or contracts for example.

Or perhaps some people simply don't trust the banks in Cyprus anymore ?

.

Hide, indeed.

The subject in question listed only paltry assets when appointed to Yingluck's Cabinet.

.

Posted 2012-03-15 16:14:25

Assets of New Ministers Announced

- PM's Office Minister Nalinee Taveesin at 18 million baht,

http://www.thaivisa.com/forum/topic/541016-assets-of-new-thai-ministers-announced/#entry5136475

[bigbamboo]

Let's be honest here, the revelation that Nalinee and Pojaman might be up to nefarious financial practices would hardly register on any Thai Corruption Richter Scale.

[Buchholz]

Let's be honest here, the revelation that Nalinee and Pojaman might be up to nefarious financial practices would hardly register on any Thai Corruption Richter Scale.

.

What does register is the documentation that is usually hidden making cases unprovable.

.

[MyFriend You]

nothing wrong with owning one or two offshore companies or even more.

In the case of Thailand's International Trade Representative and Yingluck Cabinet Appointee Nalinee.... lying and concealing hidden assets IS wrong, illegal even.

What is also suspect is Thaksin's Potjaman's financial dealings during a time when she was being investigated for tax evasion.

.

.

I believe Kuhn Zou Zou as bing festicious, lighten up a bit hey??

[Pimay1]

nothing wrong with owning one or two offshore companies or even more.

In the case of Thailand's International Trade Representative and Yingluck Cabinet Appointee Nalinee.... lying and concealing hidden assets IS wrong, illegal even.

What is also suspect is Thaksin's Potjaman's financial dealings during a time when she was being investigated for tax evasion.

.

.

I believe Kuhn Zou Zou as bing festicious, lighten up a bit hey??

He is only a troll claiming to be Chinese and we all know it.

Edited April 5, 2013 by Pimay1

[manarak]

This is stolen data.

Apparently hackers penetrated a lot of email servers and syphoned data out from there.

The first "list" published only contains one name per country and only persons without any power, i.e. no-risk targets for the journalists.

Many leftist comments of the journalists are consternating, such as "the rich use secrecy tools unavailable to the general public to own and manage their mansions, yachts, etc.".

That's rubbish, a BVI company only costs around 2000 to 3000 USD per year including a nominee director, so that's very accessible.

What's inaccessible is the wealth required to buy the yachts and mansions, and that's what makes the "general public" jealous and out for revenge.

In countries like France, where a majority of people are against the rich, where people can just vote to grant themselves money, where companies cannot lay off employees, where the government STEALS over 50% of one's earnings... leaving the country is what people who can derive income from abroads do. Those who must stay because their business is in France and cannot leave because nobody wants to buy their business only have offshore companies as a solution for their retirement plan.

But maybe the revelation of all offshore wealth owners is a two-edged sword. I very much hope this will wake up the poewerful and rich who previously just let the idiot politicians do what they wanted in their country, knowing that they have stashed their wealth away safely.

If the rich and powerful are forced to come back they will also be forced to exert again more influence over politics and make sure the looneys such as the French socialists or the German greens/SPD have no more say in managing the country.

Atlas Shrugged... a very contemporary tale.

You mean someone stole and revealed the truth? What's wrong wit that?

First, it is only part of the truth, and second, most people aren't able to correctly interpret the truth anyway.

And not like most people you are able to correctly interpret the truth right?

Indeed I'm "not like most people" by more than just one trait.

And yes, I'm probably in a better position than most to see the big picture (I have an offshore company and I worked in a Swiss Bank in an international managerial position before).

And finally, in the list of reasons that are causing Western countries' and particularly European countries' economic meltdown, "the rich hiding assets from tax" ranks way down. But the other reasons are too uncomfortable for politicians to consider.

The best that could happen to our countries is the rich coming back in force.

But why bother, really.

Edited April 5, 2013 by manarak

[Chairman Mao]

nothing wrong with owning one or two offshore companies or even more.

In the case of Thailand's International Trade Representative and Yingluck Cabinet Appointee Nalinee.... lying and concealing hidden assets IS wrong, illegal even.

What is also suspect is Thaksin's Potjaman's financial dealings during a time when she was being investigated for tax evasion.

.

.

I believe Kuhn Zou Zou as bing festicious, lighten up a bit hey??

He is only a troll claiming to be Chinese and we all know it.

Not so. He is a loyal subject.

[EyesWideOpen]

He is only a troll claiming to be Chinese and we all know it.

Not so. He is a loyal subject.

Hahaha this trolling looks fun !!! Maybe I will start a personna called Captain America, and slash and attack any post that looks anti American..:-)

But back to subject, since Thailand has a clear history of seizing money made illegally by the Thaksin family, I can more or less see why Thakin's wife would have her money off shore. But I was a bit astounded to see Carabao's name there on the list. General precaution against the endless coups here?

[khunken]

He is only a troll claiming to be Chinese and we all know it.

Not so. He is a loyal subject.

Hahaha this trolling looks fun !!! Maybe I will start a personna called Captain America, and slash and attack any post that looks anti American..:-)

But back to subject, since Thailand has a clear history of seizing money made illegally by the Thaksin family, I can more or less see why Thakin's wife would have her money off shore. But I was a bit astounded to see Carabao's name there on the list. General precaution against the endless coups here?

Nah. Carabao is just protecting against have his fighting cocks culled if bird flu returns.