Bt100-million drug assets auctioned
The Nation



BANGKOK: -- About 500 drug-case assets worth Bt100 million in total were sold at an auction yesterday in keeping with a pledge to auction off seized property linked to scandalous drug cases, the Office of the Narcotics Control Board boss said.

The secretary-general of the board, Permpong Chaowalit, said the number of drug-case assets auctioned had risen sharply as a result of Justice Minister Paiboon Kumchaya's policy to come down hard on drug networks and try and prevent people from becoming users.

He said that after the new Act relating to drug suppression measures was enacted, 31,196 drug cases with assets of Bt17.3 billion were seized.

Permpong said the Bt1.7 billion seized from 3,705 cases would be allocated to the drug suppression fund following court rulings, while non-cash assets would be sold to help fund the recovery of injured police officers or provide relief to the families of dead officers.

Items auction yesterday included motorcycles, gold ornaments and jewellery.

Some of these assets were related to infamous drug scandals including the Orn Buathong case. Orn was the biggest drug producer in Loburi's Khok Samrong district.

Also auctioned were assets formally owned by Kosin Chuchai such as a Mercedes-Benz E-Class and a Rolex watch.

Permpong said the wealth accumulated by drug dealers motivated them to take risks to make more money.

"Later on, that cash will be used to expand drug networks to become more complicated, which is hard for the police to cope with in drug suppression cases " he said.

The secretary-general added that seizing drug assets was the key tool in demolishing drug networks because it cut the financial line for them.

Source: http://www.nationmultimedia.com/national/Bt100-million-drug-assets-auctioned-30247372.html


-- The Nation 2014-11-10

Wonder who the successful bidders were...

Wonder who the successful bidders were...

Probably associates of the kingpins to recover what they lost and minimize those losses..

Since i have rarely heard about the leaders being arrested or convicted it makes sense they have a personal vested interest in recovering their lost property

Whatever happened to all those luxury vehicles in a Customs security warehouse that mysteriously disappeared ?

Oh yes, Customs are investigating.

End Of Story.

Try and get in on one of these auctions and you'll find they are hardly ever open to the gen public and mostly invitation only.

Wouldn't be an irony if those assets bought by people using tainted money? like

drugs, corruption or laundered monies ?/ ... that would be a hoot....

<Permpong said the Bt1.7 billion seized from 3,705 cases would be allocated to the drug suppression fund following court rulings, while non-cash assets would be sold to help fund the recovery of injured police officers or provide relief to the families of dead officers.>Quote

So the money is merely transferred from one gang of criminals to another!!

Wonder who the successful bidders were...

I got a Merc...... I found a plastic bag of talc in the glove box, probably left over from Songkran.

To "try and prevent people from becoming users." But is he coming down hard on the dealers, bankers, launderers, and other Thai big men?

Why are the proceeds of the auctioned off property going to the Police ?

Wouldn't it be more beneficial for Thailand for the proceeds to go to hospitals and schools ?

<Permpong said the Bt1.7 billion seized from 3,705 cases would be allocated to the drug suppression fund following court rulings, while non-cash assets would be sold to help fund the recovery of injured police officers or provide relief to the families of dead officers.>Quote

So the money is merely transferred from one gang of criminals to another!!

Sure, that's the way it has always been. It works fine, why change the game and upset the apple cart

Why are the proceeds of the auctioned off property going to the Police ?

Wouldn't it be more beneficial for Thailand for the proceeds to go to hospitals and schools ?

Good question. the quick answer: Police are first in line.

Whenever there's a theft reported in Thailand, or recovered goods involving cash or valuables, police expect kick-backs. This auction is yet another manifestation of that mind-set.

I've experienced it first-hand. I had a sum of money stolen out of my house. At first I didn't want to report it, because I had no trust in police finding thieves. But a Thai friend convinced me to report, so I did. To their credit, the local police caught the culprits and the cash (along with a personal item which could only have come from my house). However, the money wasn't returned to me straight away. It took about 3 hours of intense discussion before I got about 12% of the stolen cash back. You get one guess where the 88% balance went.

Wonder who the successful bidders were...

Policemen and their cronies maybe? I imagine the Auctioneer could have been tipped off in advance as to who gets what with respect to the big ticket items...??

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Why are the proceeds of the auctioned off property going to the Police ?
Wouldn't it be more beneficial for Thailand for the proceeds to go to hospitals and schools ?

Good question. the quick answer: Police are first in line.

Whenever there's a theft reported in Thailand, or recovered goods involving cash or valuables, police expect kick-backs. This auction is yet another manifestation of that mind-set.

I've experienced it first-hand. I had a sum of money stolen out of my house. At first I didn't want to report it, because I had no trust in police finding thieves. But a Thai friend convinced me to report, so I did. To their credit, the local police caught the culprits and the cash (along with a personal item which could only have come from my house). However, the money wasn't returned to me straight away. It took about 3 hours of intense discussion before I got about 12% of the stolen cash back. You get one guess where the 88% balance went.

May I ask why only 12% ?

Was that 12% yours ? and who's was that 88% ?

Good question. the quick answer: Police are first in line.

Whenever there's a theft reported in Thailand, or recovered goods involving cash or valuables, police expect kick-backs. This auction is yet another manifestation of that mind-set.

I've experienced it first-hand. I had a sum of money stolen out of my house. At first I didn't want to report it, because I had no trust in police finding thieves. But a Thai friend convinced me to report, so I did. To their credit, the local police caught the culprits and the cash (along with a personal item which could only have come from my house). However, the money wasn't returned to me straight away. It took about 3 hours of intense discussion before I got about 12% of the stolen cash back. You get one guess where the 88% balance went.

Guessing is no good, why don't you tell us specifically were the balance went? The thieves, their families, where?

Did they auction off any high ranking "assets"....I could use a boy Friday.

Auctions in Thailand are pathetic. I went to a Siemens appliances auction and was told that everything had already been bought apart from a couple of crappy vacuum cleaners.

The only reason why the drug producer was busted is that his co-op with the police was blown off.

Why are the proceeds of the auctioned off property going to the Police ?

Wouldn't it be more beneficial for Thailand for the proceeds to go to hospitals and schools ?

Good question. the quick answer: Police are first in line.

Whenever there's a theft reported in Thailand, or recovered goods involving cash or valuables, police expect kick-backs. This auction is yet another manifestation of that mind-set.

I've experienced it first-hand. I had a sum of money stolen out of my house. At first I didn't want to report it, because I had no trust in police finding thieves. But a Thai friend convinced me to report, so I did. To their credit, the local police caught the culprits and the cash (along with a personal item which could only have come from my house). However, the money wasn't returned to me straight away. It took about 3 hours of intense discussion before I got about 12% of the stolen cash back. You get one guess where the 88% balance went.

88% went to the Police?

Highly unlikely.

Never happened.

Wonder who the successful bidders were...

police

How can you be notified to go to these auctions

Wonder who the successful bidders were...

Maybe cronies of those from whom they were seized? At a much reduced cost and later sold for a profit.

How can you be notified to go to these auctions

Join the force

I wonder how many cars have money or drugs in the seats or hidden around the car.

just doin' the laundry...

I wonder how many cars have money or drugs in the seats or hidden around the car.

Why ??

TOT Its a start, will need another 20 years to fully implement and sink in.

Who got Chalerm's Rolls the 'present' from Singapore?

No mention of punishment for the criminals . ...... just loss of some assets !

Nice, the cars come with the thai government badge on the intake. I guess that's how the drug lords were escaping police checks all these years.