AMLO displays Pongpat’s assets to the public before auction

[webfact]

AMLO displays Pongpat’s assets to the public before auction



BANGKOK: -- The Anti-Money Laundering Office (AMLO) today displayed more than 2,000 inventory of assets seized from the syndicate headed by the former commissioner of the Central Investigation Bureau to the public ahead of the planned auctioned which is to be held at the end of the week.

Of all the assets that were seized from the syndicate headed by Pol. Gen. Pongpat Chayaphan, that is being put on public display, a 109 year old oil painting of a canal home by a famous Netherlands painter is the most valuable.

The art work is estimated to be valued at no less than 15 million baht and will be going under the hammer in the first round of auctions on March 5.

The painting drew interest from many artists. One commented that it was a masterpiece from that century and could confidently value this artwork at 15 million baht.

Today’s displayed represented only half of all the assets that were seized by AMLO.

In all, four auctions will be held on four separate days. A total of 250 inventories will be auctioned off each day.

All of the 2,000 inventories to be auctioned are divided into 5 categories which are artworks, porcelain, Buddhist sculptures, furniture and wristwatches. In all, 20,000 items are contained within the 2,000 inventories.

Almost all are depreciable assets and as such poses a potential burden on the state to maintain them.

It is for this reason that AMLO decided to hold the auctions. The public is also reassured that legal ownership is guaranteed following a successful bid

AMLO will allow the public to view the items up close today and tomorrow consecutively before proceeding with the actual auctions which will be held from March 5 – 8 at the 2nd Infantry Battalion of the 1st Infantry Regiment of the Royal Guards located on Chaengwattana Road.

The displays today drew in several hundred attendees with the luxurious wristwatches attracting the bulk of attention.

Many collectors who attended commented that huge sums of money will have to be prepared before the actual bidding because many of the items are extremely expensive and very rare.

One antique expert said he was personally interested in almost 100 pieces. The prices for them are acceptable and many items are extremely rare. For example the priceless idol adorned tea-set and the golden cabbage Chinaware is highly prized by collectors.

Bidders are required to put down a 10% down payment to qualify for bidding.

The items that are going under the hammer vary in value from as little as 200 – 500 baht plates up to items valued in the millions of baht. It is expected that the proceeds from the auction will help bolster the state’s coffers by no less than 50 million baht.

(Photo : ThaiPBS file)

Source: http://englishnews.thaipbs.or.th/amlo-displays-pongpats-assets-to-the-public-before-auction


-- Thai PBS 2015-03-03

[CelticBhoy]

20,000 items . . . that is taking greed to an all new level.

[Robby nz]

I wonder what these people expected to do with all this loot, in particular the top cop, he could have never in his lifetime have spent all the money he had or lived in all the houses he owned or even looked at all the things he had accumulated.

I cant understand the mentality of those who would cheat others to get things that the salt away where they cant even see them let alone enjoy them.

His enjoyment must have been in the cheating and scamming and the power it gave him over others, he is where he belongs now.

[Lupatria]

I wonder what these people expected to do with all this loot, in particular the top cop, he could have never in his lifetime have spent all the money he had or lived in all the houses he owned or even looked at all the things he had accumulated.

I cant understand the mentality of those who would cheat others to get things that the salt away where they cant even see them let alone enjoy them.

His enjoyment must have been in the cheating and scamming and the power it gave him over others, he is where he belongs now.

Look at it as a family business. You need all this wealth to satisfy HiSo offspring in their demand for mansions, Rolex, jewlery and Ferraris. The motto here is: the more you got- the bigger the family.

Edited March 3, 2015 by Lupatria

[Artisi]

Shouldn't the headline read other than assets seeing as how the majority were obtained with dodgy money and possibly even theft.

[exona]

Judging from the comments it seems most posters are still blissfully ignorant as to who this chap is and who he represented.

[WitawatWatawit]

^^^ No we're not. Don't be so presumptious that you are the only one who knows everything.

[EyesWideOpen]

Judging from the comments it seems most posters are still blissfully ignorant as to who this chap is and who he represented.

He was the bag man. The real question is who he was working for.... :-)

[pookiki]

I went to the Army base this afternoon as the article explicitly said that items would be on view today (4 March) but was turned away at the gate and told to return tomorrow (5 March).

[city]

little sis got him in and then she got him out...song there