Former PM Thaksin's sibling fined for insider trading

[Lite Beer]

STOCKS
Former PM's sibling fined for insider trading
The Nation

Monthathip Shinawatra and Somchai Kovitcharoenkul were fined Bt9.67 million for trading with M-Link Asia Corp inside information.

The Securities and Exchange Commission said in a statement that their transactions on the inside information were executed during July 27-August 15, 2011.

Monthathip is a younger sister of former prime minister Thaksin Shinawatra.

The investigation showed that Monthatip sold 29 million MLINK shares in securities trading account of the M Capital Holding Co Ltd. She traded MLINK shares on the knowledge of MLINK's Bt315.79 million operating net loss in the second quarter of the year. During the period of the transaction, the result was not yet released to the public.

The loss resulted from an extraordinary item on allowance for impairment work in construction of Portalnet Co Ltd, a subsidiary of the telecom company. Monthatip learnt of this information while she was MLINK's executive chairman and president as well as an authorised director. She also held 49.99 per cent in M Capital Holding.

During July 22 - August 2, 2011, Somchai sold 7 million shares of MLINK in his own securities trading account by using the aforementioned information learnt during his directorship in MLINK.

Both agreed to settle the violation with the fine. Monthathip is to pay a fine of Bt7.86 million while Somchai Bt1.8 million.

-- The Nation 2014-05-21

[poooket]

The family just follow their leader...

[issanaus]

I am shocked and surprised at such conduct!

[poooket]

I am shocked and surprised at such conduct!

LOL

[robblok]

One could say it runs in the family, though big brother is the best at it.

[moe666]

Just another case of the Shins being picked on

[zydeco]

Such an example of immense greed. These people just can't get enough of controlling everything--and legality is the least of their concerns. Honestly, why would a family with billions claw after more and more and more?

[djjamie]

I am itching to add "The Securities and Exchange Commission" to the below list..They are probably the only entity in Thailand that the PTP / Shin's have not demonized yet!!!

Please PTP / Shin's (who are hiding in a safe house or in yinglucks case hiding on the border ready to flee)…Please demonize them. Please denounce them. Please call them biased.

​TVF members, please do the same. Let me add one more to the growing list. It has been 4 days since the beauty pageant…Come on guys!!!

The Thai beauty patent judges, the World bank, Moody's, UNHCR, Human Rights Watch, the Environmentalists, the corn farmer, rubber farmers, rice farmers, medical association, rural teachers, academics, Supa, global economists, IMF, private banks, GSB, the EC, AoT, the courts, military, bangkok middle class, business owner, state enterprise staff, Buddhist monks, civil servants, labor unions, Green Politics group, Thai Constitution Protection Association, The Thai press, NIDA poll, Bangkok Poll.

Edited May 21, 2014 by djjamie

[lungmi]

DNA?

[waza]

That fine equates to about a quarter of a baht for each share sold, I would assume that they profited a great deal more than that by the sale.

Edited May 21, 2014 by waza

[bobl]

Outrageous! You'd never find British politicians getting caught doing anything like that.

[djjamie]

Outrageous! You'd never find British politicians getting caught doing anything like that.

Yes you would.

But when the politicians brothers, sisters, uncles, aunts, nephews, cousins, sons and daughters are all criminally culpable, corrupt or abusing power then it is time to worry.

[tomacht8]

I guess if they follow the money trails from the rice scheme, every school kid in all thailand could have 3 tablets for free
and every state hospital in Thailand could be renovated. Greedy thieves.

[pmugghc]

Could this be the start of a bunch of cases that have been in someones drawers?

[Scamper]

When reading stories like this, one can only marvel at how well Thaksin has been able to pedal himself and his family as the voice of the common man. There is absolutely nothing in the world of the Shinawatra family that bears the slightest resemblance or connection in any shape or form with the typically struggling and dirt-poor family in Isaan. No stocks to appraise there - no tips to bag millions. No sprees to Macy's. No auctions to peruse at Sotheby's. No Lamborghini to sample. No, Udon Thani has bought it - hook, line, and sinker. And it would take twelve Freuds to figure that out.

[issanaus]

Could this be the start of a bunch of cases that have been in someones drawers?

I was wondering about the odour attached to this case (icons not working)

[Arkady]

Martha Stewart went to prison for insider trading worth only USD200k but the Thai SEC is rather toothless lacking its own powers of prosecution, unlike the NACC. So they usually go for these type of settlements. Otherwise they have to go through the police and attorney-general for criminal prosecutions which are rarely if ever successful in the case of very wealthy defendants.

Sent from my iPhone using Thaivisa Connect Thailand

[englishoak]

This goes on all the time everywhere and always has.

Its illegal yes but its one of those grey areas, its hard not to act when you have information your going to lose money.

You have information on shares you own and you know your going to lose millions if you dont sell asap .... most will sell.

[IAMSOBAD]

Shame on the Shin Clan

[pmugghc]

So the usual Thai Rouge apologists come out in force, claiming this is sooo normal, nothing to see here, etc. Pathetic!

[realfunster]

When reading stories like this, one can only marvel at how well Thaksin has been able to pedal himself and his family as the voice of the common man. There is absolutely nothing in the world of the Shinawatra family that bears the slightest resemblance or connection in any shape or form with the typically struggling and dirt-poor family in Isaan. No stocks to appraise there - no tips to bag millions. No sprees to Macy's. No auctions to peruse at Sotheby's. No Lamborghini to sample. No, Udon Thani has bought it - hook, line, and sinker. And it would take twelve Freuds to figure that out.

Indeed, that Thaksin can so easily garner such popular support really shows how out of touch with the populace previously predominant regimes have been, doesn't it ?

[ShannonT]

So the usual Thai Rouge apologists come out in force, claiming this is sooo normal, nothing to see here, etc. Pathetic!

One side rallies behind those accused of corruption, the other side rallies behind those accused of murder.

Different people have different opinions. Welcome to life!

[zydeco]

So the usual Thai Rouge apologists come out in force, claiming this is sooo normal, nothing to see here, etc. Pathetic!

One side rallies behind those accused of corruption, the other side rallies behind those accused of murder.

Different people have different opinions. Welcome to life!

I am so sad to see you continue to spit out such hysterical venom simply because the side you support lost in a political argument. This is the sort of incitement that made martial law necessary. Please calm down.

Edited May 21, 2014 by zydeco

[Thait Spot]

Murder? Apologists

Theft? Apologists

Corruption? Apologists

Cheat in voting? Apologists

Cheat in law documents? Apologists

War on drugs? Apologists

Tak Bai? Apologists

Exim Bank? Apologists

Loans to Myanmar for AIS? Apologists

Ratchada land? Apologists

Lottery? Apologists

No pattern here? Apologists

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

[pmugghc]

So the usual Thai Rouge apologists come out in force, claiming this is sooo normal, nothing to see here, etc. Pathetic!

One side rallies behind those accused of corruption, the other side rallies behind those accused of murder.

Different people have different opinions. Welcome to life!

You forgot the most common option: people are against both corruption and murder!

[h90]

And again and again and again....Seems in this family there is not 1 clean person

[Gunna]

So the usual Thai Rouge apologists come out in force, claiming this is sooo normal, nothing to see here, etc. Pathetic!

One side rallies behind those accused of corruption, the other side rallies behind those accused of murder.

Different people have different opinions. Welcome to life!

Being led by a convicted criminal is a bit different to being accused on trumped up charges by some obeying the criminals orders

[ChrisY1]

Outrageous! You'd never find British politicians getting caught doing anything like that.

Yes you would.

But when the politicians brothers, sisters, uncles, aunts, nephews, cousins, sons and daughters are all criminally culpable, corrupt or abusing power then it is time to worry.

You forgot the driver, gardener and maid.....

[djjamie]

I am itching to add "The Securities and Exchange Commission" to the below list..They are probably the only entity in Thailand that the PTP / Shin's have not demonized yet!!!

Please PTP / Shin's (who are hiding in a safe house or in yinglucks case hiding on the border ready to flee)…Please demonize them. Please denounce them. Please call them biased.

​TVF members, please do the same. Let me add one more to the growing list. It has been 4 days since the beauty pageant…Come on guys!!!

The Thai beauty patent judges, the World bank, Moody's, UNHCR, Human Rights Watch, the Environmentalists, the corn farmer, rubber farmers, rice farmers, medical association, rural teachers, academics, Supa, global economists, IMF, private banks, GSB, the EC, AoT, the courts, military, bangkok middle class, business owner, state enterprise staff, Buddhist monks, civil servants, labor unions, Green Politics group, Thai Constitution Protection Association, The Thai press, NIDA poll, Bangkok Poll.

Sources please that each and every one of these have been "demonized" (are you Satanist or something?) by the PTP.

Or your post is BS, like the majority of your posts.

Are you demonizing the securities council? I only add if you or the PTP demonize...

Come on..I will quote Nike here..

"Just do it"

Your posts make no sense.

Where did the Puea Thai party demonize "global economists" or "AoT" or "business owner".

Those definitions don't even make sense, much less what you are trying to say.

Are you on the free WiFi from the pub or something?

Your challenging me that the PTP don't demonize these entities by belittling me at the end of your post with your wifi quip!

It reminds me of when Somchai Srisuthiyakorn described the red shirts as rude, low and wild and there reaction was….Yep, you guessed it. It was a rude, low and wild reaction proving Somchai right.. They are not the smartest group that "3rd hand" that represent 7% of the population.

​Anyway since the martial law has brought groups together and achieved so much more in 40 hours than the PTP have in 7 months I will make a deal.

I will start linking posts or OP's to each entity in my lists. Since this list has been a 3 year project and I have added as the opportunity represents itself will only start with the beauty pageant and go from there as I will not imitate Tarit as the lap dog of anyone.

​In the name of reconciliation I hope my dove of peace is accepted by you.

[love1012]

When reading stories like this, one can only marvel at how well Thaksin has been able to pedal himself and his family as the voice of the common man. There is absolutely nothing in the world of the Shinawatra family that bears the slightest resemblance or connection in any shape or form with the typically struggling and dirt-poor family in Isaan. No stocks to appraise there - no tips to bag millions. No sprees to Macy's. No auctions to peruse at Sotheby's. No Lamborghini to sample. No, Udon Thani has bought it - hook, line, and sinker. And it would take twelve Freuds to figure that out.

Indeed, that Thaksin can so easily garner such popular support really shows how out of touch with the populace previously predominant regimes have been, doesn't it ?

No .it shows how much bribery he committed, how many murders he carried out and how many little stooges like Juthaporn there are