Former PM Thaksin's sibling fined for insider trading

[MAJIC]

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.

on the 30baht health care scheme they bought it as its saved their lives with cheaper health care .as an example HIV sufferers could get medication for 30 baht instead of paying 15,000 a month which they wouldnt have in the first place ,so they carried on living instead of dying a slow death all thanks to Mr Thaksin who saved numerous lives .

so many owe their lives to mr Thaksin and thats why they love him so much in isaan .

the opposition didnt like him for giving the poor 30 bahts health care as they would prefer them to suffer in pain

insider trading goes on all over the world in London and the US

"the opposition didnt like him for giving the poor 30 bahts health care as they would prefer them to suffer in pain"

"they carried on living instead of dying a slow death all thanks to Mr Thaksin who saved numerous lives ."

This is getting boring,as this is the second time this month I have had to point out to those that are not too good on Thai Political History that the Ahbisit government gave the Thai people FREE Health care.

30 Bhat or whatever you want to call it!

Edited May 21, 2014 by MAJIC

[huanga]

Just another case of the Shins being picked on

of course, following your conspiracy theory:

military coup

judicial coup and now the financial coup

You have convinced me (Not!) that SET Commission is also in on this and it's politically biased.

[virtualtraveller]

These bits of information seem to come out with such perfect timing. She copped a 6 million fine without appeal. What percentage of the Thai population have a net asset worth of 6 million?

[Robby nz]

Great quote elsewhere this morning in an opinion, commentary, piece regarding 'the golden years of Thai Democracy, the 1997 constitution and peoples politics which crumbled under Thaksin and his clan'

It is indeed a terrible shame that man and his family could not work honestly for the Thai people.

His greed and lust for power have cost this country dearly not only in money terms but in lives, opportunities and the happiness and unity of the people.

And still it continues with this story of a family who have no problem with paying close to 10 million in fines while so many people could not afford 10 thousand or even 1 thousand.

People who we see having to pawn what they have left so they can send their children to school, farmers who have not been paid for months, over 80% household debt.

Yet his family of multi billionaires who claims to be for the poor have boasted of increasing their wealth 450% in the last 3 years.

There are those on here who are supporting them with excuses while the country is still being pulled apart by the same greed and lust for power of this family.

[neverdie]

nothing to see here. Just a rich people, doing as they see fit. Happens all around the world, day in, day out.

[selftaopath]

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?

I guess because that is what the Shin Mafia is about... more more me me more more me me.

[jkinbkk]

The turd doesn't fall far from the sphincter!

Oops sorry wrong idiom, i mean The apples doesn't fall far from the tree

[ramrod711]

So what, not like there's anyone in Thailand who isn't corrupt.

Big news.

Nice defense Shannon, cogent, well thought out and establishes the innocence of your masters beyond any reasonable doubt. Thanks for the valuable input, have a lovely day.

[valvenus]

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.

they carried on living instead of dying a slow death all thanks to Mr Thaksin who saved numerous lives .

the opposition didnt like him for giving the poor 30 bahts health care as they would prefer them to suffer in pain

"the opposition didnt like him for giving the poor 30 bahts health care as they would prefer them to suffer in pain"

"they carried on living instead of dying a slow death all thanks to Mr Thaksin who saved numerous lives ."

This is getting boring,as this is the second time this month I have had to point out to those that are not too good on Thai Political History that the Ahbisit government gave the Thai people FREE Health care.

30 Bhat or whatever you want to call it!

Also,

they carried on dying instead of living all thanks to Mr. Thaksin who initiated and supervised thousands of innocents being slaughtered in his Drug War.

.

Edited May 22, 2014 by valvenus

[Seastallion]

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.

Somchai's fine was slightly higher, proportionately, so we should assume he made more per share overall. They sold over the same period, but obviously sometimes on different days. I guess their lawyer argued that brokers commissions needed to be deducted from the profit.

It may have been only .25 of a baht, average, over the entire selling off period, up some days, down on others.....but my maths, poor as it is, says .3 baht per share; 29 million shares, 10 million fine. Possible

[Tatsujin]

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.

on the 30baht health care scheme they bought it as its saved their lives with cheaper health care .as an example HIV sufferers could get medication for 30 baht instead of paying 15,000 a month which they wouldnt have in the first place ,so they carried on living instead of dying a slow death all thanks to Mr Thaksin who saved numerous lives .

so many owe their lives to mr Thaksin and thats why they love him so much in isaan .

the opposition didnt like him for giving the poor 30 bahts health care as they would prefer them to suffer in pain

insider trading goes on all over the world in London and the US

You are so wildly off the mark it's just not funny.

Yes, Thaksin's party introduced the 30 baht health care scheme . . . then the Democrats made it FREE and universal for everyone . . . then Thaksin's party put it back up to 30 baht again PLUS instituted many more restrictions on who can receive it.

Get your <deleted> facts right, I'm sick of this bullshit propaganda that Thaksin has spread around and you idiots all believe.

[Tatsujin]

A reminder for those with short memories and who think the Shinawatra's are whiter than white and never do wrong:

The Securities and Exchange Commission (SEC) found Panthongtae Shinawatra, 27, guilty of three counts of failing to disclose information to regulators about his share transactions between 2000 and 2002 prior to the Shin Corp sale.

http://www.abc.net.au/news/2006-02-23/thai-pms-son-violated-disclosure-laws-over-shin/805174

As far as I can tell, 85%+ of that family and close relatives have been found guilty of something illegal. And these are the people you want running the country.

[Doc46]

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?

It's the old saying,,The more they got ,the more they want,,,

[kerrysum]

Oh no... Please tell ne it isn't so.......

Kerry

[klauskunkel]

Former PM's sibling fined for insider trading

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

Here's another target for the grenade throwers

Edited May 22, 2014 by metisdead
Oversize font reset to normal.

[johnno2]

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

even the maids and drivers

[belg]

small price to pay for a huge profit they made with the inside trading... why no jail time and taking away all the illegal proceeds ?

[GeorgeO]

So what, not like there's anyone in Thailand who isn't corrupt.

Big news.

Amazing. What would have been your response if the case involved someone completely different, let's say for argument's sake, the sister of Abhisit Vejjajiva...?!

[pitrevie]

small price to pay for a huge profit they made with the inside trading... why no jail time and taking away all the illegal proceeds ?

I assume given the number of posts you have made you have been here some time so your question was rhetorical.

[rubl]

I can only assume that the two were not rich enough yet not to need to be corrupt

[Artisi]

A reminder for those with short memories and who think the Shinawatra's are whiter than white and never do wrong:

The Securities and Exchange Commission (SEC) found Panthongtae Shinawatra, 27, guilty of three counts of failing to disclose information to regulators about his share transactions between 2000 and 2002 prior to the Shin Corp sale.

http://www.abc.net.au/news/2006-02-23/thai-pms-son-violated-disclosure-laws-over-shin/805174

As far as I can tell, 85%+ of that family and close relatives have been found guilty of something illegal. And these are the people you want running the country.

Say's it all, doesn't it?

[Tatsujin]

A reminder for those with short memories and who think the Shinawatra's are whiter than white and never do wrong:

The Securities and Exchange Commission (SEC) found Panthongtae Shinawatra, 27, guilty of three counts of failing to disclose information to regulators about his share transactions between 2000 and 2002 prior to the Shin Corp sale.

http://www.abc.net.au/news/2006-02-23/thai-pms-son-violated-disclosure-laws-over-shin/805174

As far as I can tell, 85%+ of that family and close relatives have been found guilty of something illegal. And these are the people you want running the country.

Say's it all, doesn't it?

It should say it all to anyone really unless they have their heads so firmly up their own ass they refuse to even acknowledge the damage these despicable people have done to Thailand over the years.

I'm not claiming other people/families are not corrupt, but the Shinawatra's well and truly take the piss with their excess and blatant disregard for ALL laws.

[hidavey]

The latest guilty Shinawatra fraudster, Monthathip Shinawatra

FUGLY!!!!

[hidavey]

The other guilty fraudster, former Executive Director of M-Link and gynecologist Somchai Kovitcharoenkul, is Thaksin's brother-in-law (husband of co-conspirator Monthathip Shinawatra).

I wouldn't even trust this guy washing my dog. Look at him, he looks like he might just eat it.

[Halion]

All just fruit from the poisoned tree.

[looping]

Shocking news from such an impeccable family.

Let's hope this news doesn't tarnish the family name in any way or damage their reputation as law abiding citizens, or they may be forced to sue someone

Maybe it was politically motivated. The thought of it.

Poor things.

Sent from my iPad using Thaivisa Connect Thailand mobile app

[ratcatcher]

The latest guilty Shinawatra fraudster, Monthathip Shinawatra

She's no Yingluck!

Yingluck's working on it.

[ATF]

What the original post fails to mention is if the sale was of existing shares held or was a short sale involved. Just selling existing shares held is difficult to prove any wrongdoing. However if a short sale was involved (thus profiting from the falling price of the stock) it would be extremely difficult to prove innocence. This in fact would be a serious criminal offense and would ensure a prison sentence in most countries.

Last year there was an un-named Bangkok trader who profited significantly from insider information on the Chinese takeover of US based Smithfield Foods. I wonder who that was?

[Thaddeus]

Just as well the Palm Oil man who closed down the capital city with violent armed thugs isn't corrupt.

Oh.

Looky everyone, a but Suthep post, with the words armed violent thugs in it.

Standard red apologist defense, point at some one else.

I'm getting the feeling that this year is going to be a Karma year, and they are all going to get what they deserve.

[rubl]

Just as well the Palm Oil man who closed down the capital city with violent armed thugs isn't corrupt.

Oh.

Looky everyone, a but Suthep post, with the words armed violent thugs in it.

Standard red apologist defense, point at some one else.

I'm getting the feeling that this year is going to be a Karma year, and they are all going to get what they deserve.

Watching television I saw that the Dhamma of (for?) today day included "think good thoughts".