Lite Beer Posted December 1, 2014 Share Posted December 1, 2014 An ex-politician in BBC scandal jailed 155 years BANGKOK: -- A former member of the now disbanded “Goup of 16” political group was today sentenced to 155 years imprisonment, fined 31 million baht and ordered to pay 732 million baht in compensation for damages in connection with the Bangkok Bank of Commerce (BBC) fraud. The Criminal Court found the defendant, Mr Chattawat or Veerapol Muktamara, guilty of assisting MrKrirkkiat Chalechandra, the late managing director of BBC, in cheating the bank by granting loans without proper guarantee to politicians of the so-called “Group of 16” causing massive damages to the bank.The massive fraud by the bank management led to the collapse of the bank in 1996 before the “tom yum kung” financial crisis one year afterward.Two key players of the embezzlement case MrKrirkkiat and Indian financier, RakeshSaxena, were the subject of investigation and court trials. Mr Krirkkiat who was convicted to long prison terms died of cancer in 2012 whereas Mr Saxena is serving a ten-year jail term. Source: http://englishnews.thaipbs.or.th/ex-politician-bbc-scandal-jailed-155-years -- Thai PBS 2014-12-01 Link to comment Share on other sites More sharing options...
Popular Post JOC Posted December 1, 2014 Popular Post Share Posted December 1, 2014 (edited) What a nonsense sentence!! The brain in the scam Mr Saxena sentenced to 10 years , and one of the underlings gets 155 years?? Welcome to the Thai juridical lottery! Edited December 1, 2014 by JOC 6 Link to comment Share on other sites More sharing options...
thesetat2013 Posted December 1, 2014 Share Posted December 1, 2014 Its ok though! He will be out on bond tomorrow while he waits for a new government to be voted in 1 Link to comment Share on other sites More sharing options...
Artisi Posted December 1, 2014 Share Posted December 1, 2014 Its ok though! He will be out on bond tomorrow while he waits for a new government to be voted in What would be bail wouldn't it, plus return of passport. Link to comment Share on other sites More sharing options...
Wilsonandson Posted December 1, 2014 Share Posted December 1, 2014 Goup of 16? Who were the 15 others? 155 years hope he serves out all his sentence. 1 Link to comment Share on other sites More sharing options...
KhunMoo Posted December 1, 2014 Share Posted December 1, 2014 White collar crimes are severely under-punished in the west. Some banksters in the U.S. should have got sentences like that after 2007. Instead they became lobbyists. One of the fraudsters went as far, as being part of the administration. Insane. 1 Link to comment Share on other sites More sharing options...
Pib Posted December 1, 2014 Share Posted December 1, 2014 This sentence sounds serious...after the appeals run their course he might end up having to spend a couple years in prison and pay a small fine. 2 Link to comment Share on other sites More sharing options...
JOC Posted December 1, 2014 Share Posted December 1, 2014 Goup of 16? Who were the 15 others? 155 years hope he serves out all his sentence. Most of the others were highranking politicians. If justice was served, the new racingtrack outside Buriram would never have been build. If justice was served, the fake monk would be wearing a different design of orange!! Saxena only got 10 years, because he cooperated aka kept his mouth shut!! Link to comment Share on other sites More sharing options...
MJP Posted December 1, 2014 Share Posted December 1, 2014 He'll probably get parole . . . when he's 175 years old. Link to comment Share on other sites More sharing options...
Prbkk Posted December 1, 2014 Share Posted December 1, 2014 The most destructive act of corruption in Thai history. Of course some people were beneficiaries. Must be something to do with Thaksin, surely. Link to comment Share on other sites More sharing options...
Basil B Posted December 1, 2014 Share Posted December 1, 2014 He'll probably get parole . . . when he's 175 years old. Some people have robbed Thailand blind, not just the Shinawatra's and cronies, and hope the such like get stripped of all the wealth and serve long prison sentences, but some how I do not see this guy doing more than 155 weeks... 1 Link to comment Share on other sites More sharing options...
dddave Posted December 1, 2014 Share Posted December 1, 2014 White collar crimes are severely under-punished in the west. Some banksters in the U.S. should have got sentences like that after 2007. Instead they became lobbyists. Some became lobbyists but the real slime balls became cabinet members and the slimiest of all sitting atop the federal reserve. I'd say the Thais did pretty good in comparison. 2 Link to comment Share on other sites More sharing options...
dddave Posted December 1, 2014 Share Posted December 1, 2014 This sentence sounds serious...after the appeals run their course he might end up having to spend a couple years in prison and pay a small fine. However many years they may spend in the can...it will be a whole lot more than the fat cats at Lehman Bros. who essentially did the same thing for a lot more money and walked...whoops...rode free in chauffeured limousines. Link to comment Share on other sites More sharing options...
ATF Posted December 1, 2014 Share Posted December 1, 2014 This was a long time before Thaksin became powerful. Saxena was the organ grinder. Where is he in jail? Last I heard he was under house arrest in Whistler, Canada. Link to comment Share on other sites More sharing options...
darrendsd Posted December 1, 2014 Share Posted December 1, 2014 Hmmm.....i'm sure the Burmese must have been behind this ! Sigh, The blaming the Burmese for everything comment on Thai Visa got boring months ago. 2 Link to comment Share on other sites More sharing options...
Jiu-Jitsu Posted December 1, 2014 Share Posted December 1, 2014 White collar crimes are severely under-punished in the west. Some banksters in the U.S. should have got sentences like that after 2007. Instead they became lobbyists. Some became lobbyists but the real slime balls became cabinet members and the slimiest of all sitting atop the federal reserve. I'd say the Thais did pretty good in comparison. The list Link to comment Share on other sites More sharing options...
Jiu-Jitsu Posted December 1, 2014 Share Posted December 1, 2014 Makes for interesting reading.... 1 Link to comment Share on other sites More sharing options...
Sviss Geez Posted December 1, 2014 Share Posted December 1, 2014 What a nonsense sentence!! The brain in the scam Mr Saxena sentenced to 10 years , and one of the underlings gets 155 years?? Welcome to the Thai juridical lottery! He was charged with 31 different offences, that's why, all perfectly logical. The sentence is reduced automatically though to 20 years, the maximum under Thai law, so he got off comparitively lightly. Link to comment Share on other sites More sharing options...
Sviss Geez Posted December 1, 2014 Share Posted December 1, 2014 This was a long time before Thaksin became powerful. Saxena was the organ grinder. Where is he in jail? Last I heard he was under house arrest in Whistler, Canada. Couldn't you be bothered to read to the end of the OP? Read it and you'll be able to answer your own question. Link to comment Share on other sites More sharing options...
technologybytes Posted December 2, 2014 Share Posted December 2, 2014 Goup of 16? Who were the 15 others? 155 years hope he serves out all his sentence. You hope he serves 155 years ? For a white collar crime of which he was not the ringleader ??? What he has done is probably considered standard practice in the banking world, he's no different to hundreds of other bankers except he was unfortunate enough to be made an example of in a court. Link to comment Share on other sites More sharing options...
Jim walker Posted December 2, 2014 Share Posted December 2, 2014 I wonder if he will be counting the days of on his prison cell wall and will be delighted after 155 years to get released and out for a refreshing Leo at a bargain price of 1000000 Baht a bottle but its a big one . Link to comment Share on other sites More sharing options...
ourmanflint Posted December 2, 2014 Share Posted December 2, 2014 This and all the stories from past twenty years makes me wonder just how far Thailand might be ahead if politics was just a little bit cleaner. It's hard for me to comprehend the rampant and blatant theft of money taken out of the system by so called political leaders. Link to comment Share on other sites More sharing options...
Benmart Posted December 2, 2014 Share Posted December 2, 2014 While anyone is entitled to an opinion, there may be a lack of legal credentials to practice in Thailand by those with such earnest leanings. I'm not perfect and I have ample company. Link to comment Share on other sites More sharing options...
cookee68 Posted December 2, 2014 Share Posted December 2, 2014 He'll probably get parole . . . when he's 175 years old. Or get it reduced too 100 years on an appeal, Link to comment Share on other sites More sharing options...
bino Posted December 2, 2014 Share Posted December 2, 2014 (edited) This was a long time before Thaksin became powerful. Saxena was the organ grinder. Where is he in jail? Last I heard he was under house arrest in Whistler, Canada. Couldn't you be bothered to read to the end of the OP? Read it and you'll be able to answer your own question. Did YOU read it? And, did you read ATF's post correctly? All the OP article says is that he is in jail for 10 years. ATF asks "Where is he in jail?" which is not specified in the OP. ATF- he finally lost all appeals in Canada and was repatriated to Thailand on 31 October 2009. http://www.vancouversun.com/business/Baines+Saxena+guilty+massive+fraud+jailed+years/6754624/story.html http://www.thaivisa.com/forum/topic/561118-former-bbc-adviser-rakesh-saxena-gets-10-year-prison-sentence/ He is incarcerated in Thailand now - in the Thaivisa thread above: " He was never granted bail since being extradited, but was put behind bars at the maximum-security Bangkok Remand Prison." Probably nowhere near as plush as his house arrest in Canada. Edited December 2, 2014 by bino Link to comment Share on other sites More sharing options...
jpeg Posted December 2, 2014 Share Posted December 2, 2014 What a nonsense sentence!! The brain in the scam Mr Saxena sentenced to 10 years , and one of the underlings gets 155 years?? Welcome to the Thai juridical lottery! Don't be so bloody naive. Anyone can buy their way out of this country and it's attendant troubles here. Christ. Some of you Link to comment Share on other sites More sharing options...
metisdead Posted December 2, 2014 Share Posted December 2, 2014 A nonsense post has been removed as well as the replies. Link to comment Share on other sites More sharing options...
Krataiboy Posted December 2, 2014 Share Posted December 2, 2014 A lot of bankers in the West, given knuckle-rapping fines for money laundering, market rigging, mis-selling and a host of other offences that cost thousands of people their savings, homes and in some cases their lives, must be thanking their lucky stars they don't live in Thailand. Personally, I wish they did and got punishments to fit the crime, not fines they could pass on to their customers.. Link to comment Share on other sites More sharing options...
Jonmarleesco Posted December 2, 2014 Share Posted December 2, 2014 Typical of US-style excessive sentencing, and of the contempt courts the world over manage to demonstrate when it comes to lives versus money. Link to comment Share on other sites More sharing options...
lildragon Posted December 2, 2014 Share Posted December 2, 2014 Ohh THAT BBC Link to comment Share on other sites More sharing options...
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