Yingluck's wealth rose by Bt33m while in office, anti-graft body says

[Lite Beer]

Yingluck's wealth rose by Bt33m while in office, anti-graft body says
The Nation

BANGKOK: -- Former prime minister Yingluck Shinawatra's wealth increased by some Bt33 million while she was in office, according to the anti-graft agency.

Yingluck was richer by the time she was forced to step down, but other ministers in her Cabinet got poorer, the body said.

As of May 7 when she was disqualified from office following a ruling by the Constitutional Court, Yingluck had assets worth Bt601 million and Bt28 million in debt. Her son Supasek Amornchat had assets worth Bt 1.3 million. Yingluck's assets excluded those of her unmarried spouse Anusorn Amornchat, who declared assets worth Bt36 million.

Yingluck's wealth is mostly from stocks she holds in many firms, including SC Asset Corporation, which rose in value during her tenure.

She also has some cash in a bank account but did not declare a luxury watch, something that former opposition leader Abhisit Vejjajiva mentioned previously during a parliamentary session.

Thawatchai Sirithanaphan, chief of asset examination at the National Anti-Corruption Commission, said Yingluck informed the NACC that the watch in question had been sold before she took office but she did not specify the brand or type of the timepiece.

Former deputy PM and foreign minister Surapong Tovichak-chaikul had assets worth Bt40.5 million and a debt of Bt3.06 million. His assets declined by a total of Bt11.3 million when he was in office - due to loss of investment and devaluation of his vehicles.

Another former deputy PM, also finance minister Kittiratt Na-Ranong, has assets worth Bt58.9 million and debt of Bt1.3 million. His total assets declined by Bt2.81 million compared to when he took office in January 2012.

Former deputy PM Plodprasop Suraswadi, who is still the richest among ex-Cabinet members, has assets worth Bt970 million and a debt of Bt2.7 million. His assets increased by Bt4 million compared to when he took office in November 2012.

Former labour minister Chalerm Yoobamrung has assets worth Bt171.1 million without any debt. The value of his assets declined by Bt130,000.

Source: http://www.nationmultimedia.com/politics/Yinglucks-wealth-rose-by-Bt33m-while-in-office-ant-30237298.html

-- The Nation 2014-06-28

[NongKhaiKid]

Well it certainly couldn't have been a good performance bonus.

[doctorproc156]

Yingluck's wealth is mostly from stocks she holds in many firms, including SC Asset Corporation, which rose in value during her tenure.

So if this is the main reason for her gain in wealth, then why is there a slant in the article which implies that her rise in wealth is from corruption? This article does nothing except fuel the propaganda for the PDRC, I think what everyone really wants to see is hard facts proving her misconduct beyond a reasonable doubt.

[Thailand]

I think she needs a good financial advisor.

At least she had a positive return with others actually losing money. Not what a lot of people wanted to hear I guess.

And Abhisit with the luxury watch thing, what a pathetic little man.

That said, I am pretty much sure that ALL of the rich politicians, military etc, have more assets than they are declaring. When the THB was at it's peak properties were being purchased in the UK and other places like crazy, no doubt through proxy or holding companies.

[jaidam]

Well it wasn't through lack of trying. If her Thaksin amnesty and remuneration bill had passed at 4am she would have trousered a cool 1,000 million baht(her share of the confiscated money her family was found by the court to have stolen from the Thai taxpayers). Remind me again why she chose to risk the countries stability and judicial system to attempt ramming through this controversial plot.

[NongKhaiKid]

Yingluck's wealth is mostly from stocks she holds in many firms, including SC Asset Corporation, which rose in value during her tenure.

So if this is the main reason for her gain in wealth, then why is there a slant in the article which implies that her rise in wealth is from corruption? This article does nothing except fuel the propaganda for the PDRC, I think what everyone really wants to see is hard facts proving her misconduct beyond a reasonable doubt.

Should a sitting PM have involvement in the financial market ?

At least her brother tried to hide his share holdings in the names of domestic staff, security guards and Daisy the family water buffalo.

[The stuttering parrot]

So I see another bias article aimed at yingluck to smear her and her family!

Oh yes the yellows once again will go into overdrive with these headlines.

For a more balanced article please refer to the BP as it gives full disclosure of her and husbands assets during her time as the democratically elected prime minister.

On a side note also please refer to the article in the BP on what the media is trying to establish on what they can report on and what they can't.

Shouldn't worry the nation as it's just a stooge yellow paper with feel good headlines trying to persuade the world that everything is all good.

Pity that the world sees right through these empty articles as nothing but propaganda!

Oh and I see the good general has told sutep to shut up about how he and the general colluded since 2010 to bring this about!

Not my words just check out the BP.

[JAS21]

So I see another bias article aimed at yingluck to smear her and her family!

Oh yes the yellows once again will go into overdrive with these headlines.

For a more balanced article please refer to the BP as it gives full disclosure of her and husbands assets during her time as the democratically elected prime minister.

On a side note also please refer to the article in the BP on what the media is trying to establish on what they can report on and what they can't.

Shouldn't worry the nation as it's just a stooge yellow paper with feel good headlines trying to persuade the world that everything is all good.

Pity that the world sees right through these empty articles as nothing but propaganda!

Oh and I see the good general has told sutep to shut up about how he and the general colluded since 2010 to bring this about!

Not my words just check out the BP.

Is it necessary to declare assets in other countries ... just asking

[doctorproc156]

Yingluck's wealth is mostly from stocks she holds in many firms, including SC Asset Corporation, which rose in value during her tenure.

So if this is the main reason for her gain in wealth, then why is there a slant in the article which implies that her rise in wealth is from corruption? This article does nothing except fuel the propaganda for the PDRC, I think what everyone really wants to see is hard facts proving her misconduct beyond a reasonable doubt.

Should a sitting PM have involvement in the financial market ?

At least her brother tried to hide his share holdings in the names of domestic staff, security guards and Daisy the family water buffalo.

She bought the shares before becoming PM and just held on the them, I think most of the worlds leaders have some investments before becoming prime minister. If someone buys a plot of land and becomes PM and sells it after their term at market price which would be higher after a few years, is that still the result of corruption? This is the same thing.

It is also quite laughable at how Abhisit is so desperate at raising her asset worth value by adding in watches and the what not, when this was the result of his administration:

"Democrat MPs saw their personal net worth increase by 4.3 billion baht while Abhisit was Prime Minister. Democrat financier Kalaya Sophonphanit's personal wealth increased by 422 million baht, while the wealth of MPs Wilat Chanpitak and Chalermlak Kebsap increased by 303 and 302 million baht respectively. 10 out of 10 MPs whose wealth increased the most during Abhisit's premiership were all Democrat MPs""

Source: https://web.archive.org/web/20111206120856/http://www.tcijthai.com/investigative-story/793

[AGareth2]

agree with post 4

lousy broker

[chainarong]

This is hardly anything compared with the marginal improvement of Shincorp, that her brother seemed to manage when in office, it actually multiplied six times into billions , Yingluck as indicated ,, is a business person and so I would like to think , gained from those interests, I personally have no animosity towards Yingluck nor the Shinawatra family, I do have a problem in an inexperienced, no knowledge person being appointed to one of the most powerful positions in Thailand and the continual interference from Thaskin in the daily running of government in Thailand , criminals have no place in decision making process in any country, members of parliament should have a squeaky clean record , however that might be hard to find in Thailand.

[A1Str8]

Crime pays.

Sent from my GT-I9500 using Thaivisa Connect Thailand mobile app

[ezzra]

Mind you that all those figure that are showing here are the KNOWN figures out there in the open,

no way of telling how much money is hidden under all sorts of proxy, friends, relatives and overseas

accounts.....

[philw]

Yingluck's wealth is mostly from stocks she holds in many firms, including SC Asset Corporation, which rose in value during her tenure.

So if this is the main reason for her gain in wealth, then why is there a slant in the article which implies that her rise in wealth is from corruption? This article does nothing except fuel the propaganda for the PDRC, I think what everyone really wants to see is hard facts proving her misconduct beyond a reasonable doubt.

Well said and also very obvious..

The absence of hard facts is clear to all...........

[Thailion]

"those of her unmarried spouse Anusorn Amornchat"

Excuse my ignorance but what does the above mean? Is she divorced?

Never mind...just googled it. It means common law marriage.

Edited June 28, 2014 by Thailion

[englishoak]

I expect interest and investments alone accounted for quite a bit.... really 33m is that all on her net wealth ? seems pretty insignificant to me.

[Ricardo]

So I see another bias article aimed at yingluck to smear her and her family!

Oh yes the yellows once again will go into overdrive with these headlines.

For a more balanced article please refer to the BP as it gives full disclosure of her and husbands assets during her time as the democratically elected prime minister.

On a side note also please refer to the article in the BP on what the media is trying to establish on what they can report on and what they can't.

Shouldn't worry the nation as it's just a stooge yellow paper with feel good headlines trying to persuade the world that everything is all good.

Pity that the world sees right through these empty articles as nothing but propaganda!

Oh and I see the good general has told sutep to shut up about how he and the general colluded since 2010 to bring this about!

Not my words just check out the BP.

Is it necessary to declare assets in other countries ... just asking

Such as Amply-Rich people in the B.V.I. ?

Personally I don't think that she personally benefited directly, while in-office, but I suspect that her wider family aren't complaining too much, especially her brother with the $1-billion unfreezing-of-funds while she was in-charge.

Wonder who bought the watch ?

[chubby]

TV needs a del function IMHO

Edited June 28, 2014 by chubby

[rametindallas]

Former transport permanent secretary Supoj Saplom, was worth how much 'on paper'? How much stolen, in cash, from his house? How much did the thieves say they had to leave behind because they couldn't carry it? http://www.thaivisa.com/forum/topic/513177-nacc-investigates-transport-mins-permanent-secretarys-assets-after-being-robbed-of-bt200-million/ He was a lowly bureaucrat. How much can a cabinet minister accumulate in offshore accounts? Thaksin had billions of undeclared money in offshore accounts. These are high-level, experienced crooks who are not stupid enough to leave a paper trail. Anyone believing that any of these numbers reflect the true wealth of any of these people is truly naive.

I got an especially good laugh out of the finance minister Kittiratt Na-Ranong pretending to lose 2.81 million. More proof, if any was needed, that he was unqualified to be finance minister. He should have declared at least some small profit.

Former PM Yingluck's wealth went up a mere 5% which is hardly damning as she did what she did out of loyalty for her brother and not for the money.

[klauskunkel]

Former labour minister Chalerm Yoobamrung has assets worth Bt171.1 million without any debt. The value of his assets declined by Bt130,000.

Must have paid for some of his drinks with his own money...maybe he is reforming? No, probably not...

[rametindallas]

I expect interest and investments alone accounted for quite a bit.... really 33m is that all on her net wealth ? seems pretty insignificant to me.

Please re-read the OP. Especially this part: 'As of May 7 when she was disqualified from office following a ruling by the Constitutional Court, Yingluck had assets worth Bt601 million and Bt28 million in debt.'

[brianP]

With gold purchased for cash, who knows what evil lurks hidden from prying eyes.

[pookiki]

If there is a 'real' effort to enact reform, then all military, appointed, and elected officials should annually declare their wealth and relevant financial data. When, and if, there are elected officials in the future, there should be a requirement that their finances be placed in a 'blind trust' subject to annual disclosures.

Another way to fight corruption is to require all citizens to declare their bank accounts or other financial holdings when filing taxes and enact some form of capital gains tax. This would make it much more easier to monitor money laundering and other transactions that could point to corruption or unjust enrichment.

[janpharma]

A family of thieves...

The money should be claimed by the NCPO immediately...

[kerrysum]

There is no insider trading in Thailand correct? Every nation on the face of the earth is experiencing this now, so what makes it any different? Read, research, and grow....

Kerry

[gabruce]

Yingluck's wealth is mostly from stocks she holds in many firms, including SC Asset Corporation, which rose in value during her tenure.

So if this is the main reason for her gain in wealth, then why is there a slant in the article which implies that her rise in wealth is from corruption? This article does nothing except fuel the propaganda for the PDRC, I think what everyone really wants to see is hard facts proving her misconduct beyond a reasonable doubt.

I need to brush up on my english skills. To me, the article doesn't seem slanted to claiming that she gained in wealth due to corruption. Do you think it's slanted because they don't detail exactly which assets increased and decreased? I just don't see it.

[doctorproc156]

Yingluck's wealth is mostly from stocks she holds in many firms, including SC Asset Corporation, which rose in value during her tenure.

So if this is the main reason for her gain in wealth, then why is there a slant in the article which implies that her rise in wealth is from corruption? This article does nothing except fuel the propaganda for the PDRC, I think what everyone really wants to see is hard facts proving her misconduct beyond a reasonable doubt.

I need to brush up on my english skills. To me, the article doesn't seem slanted to claiming that she gained in wealth due to corruption. Do you think it's slanted because they don't detail exactly which assets increased and decreased? I just don't see it.

The fact that the main reason her rise in wealth is tucked half way inside the article and is quickly rebutted by a quote by Abhisit on a watch she didn't declare. Abhisit has absolutely no credibility when it comes to speaking against graft as his administrations cabinet members wealth rose by 4.5 billion and he was in office for the same amount of time. The needless inclusion of Abhisit is what slants the article towards the side of the democrats. And the headline is what most people read, not everyone reads the article, saying the information came from an anti-graft body implies that it was the result of graft and is misleading.

Edited June 28, 2014 by anantha92

[MILT]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

So I see another bias article aimed at yingluck to smear her and her family!

Oh yes the yellows once again will go into overdrive with these headlines.

For a more balanced article please refer to the BP as it gives full disclosure of her and husbands assets during her time as the democratically elected prime minister.

On a side note also please refer to the article in the BP on what the media is trying to establish on what they can report on and what they can't.

Shouldn't worry the nation as it's just a stooge yellow paper with feel good headlines trying to persuade the world that everything is all good.

Pity that the world sees right through these empty articles as nothing but propaganda!

Oh and I see the good general has told sutep to shut up about how he and the general colluded since 2010 to bring this about!

Not my words just check out the BP.

s s s so wh w wha what are you ttttttrying ttttttto say?

[Carrerakiss]

Mind you that all those figure that are showing here are the KNOWN figures out there in the open,

no way of telling how much money is hidden under all sorts of proxy, friends, relatives and overseas

accounts.....

If there is more money/assets out there in shadowy accounts, then the powers that be should track them down and make them known. I assume the powers that be have tried to do just that and not found anything. So continued speculation makes a good story, but is nothing more than fantasy. Until proven different of course.

TBH, the figures quoted in this article don't quite jibe with the accusations of bleeding the country dry through corruption. But it was never about that really, was it.

[lvr181]

If there is a 'real' effort to enact reform, then all military, appointed, and elected officials should annually declare their wealth and relevant financial data. When, and if, there are elected officials in the future, there should be a requirement that their finances be placed in a 'blind trust' subject to annual disclosures.

Another way to fight corruption is to require all citizens to declare their bank accounts or other financial holdings when filing taxes and enact some form of capital gains tax. This would make it much more easier to monitor money laundering and other transactions that could point to corruption or unjust enrichment.

A nice idea but doesn't happen in cuckoo land.