AMLO impounds assets of former defunct BMB executive

[Lite Beer]

AMLO impounds assets of former defunct BMB executive

BANGKOK: -- The Anti-Money Laundering Office (AMLO) today impounded the asset of the mother of former Democrat Bangkok MP worth more than 300 million baht in a case related to the collapse of the Bangkok Metropolitan Bank (BMA) in 1997.

AMLO secretary-general Pol Col Sihanart Prayoonrat assured that the action was not politically-motivated although she is the mother of former Bangkok MP Atavit Suvanbhakdi.

He said AMLO will give her 30 days to clarify where her earnings had come from.

Pol Col Sihanart Prayoonrat affirmed that AMLO’s resolution to freeze the assets of Mrs Phakinee Suvanbhakdi, former executive of the defunct BMB and her colleagues, totaling 22 items, including properties and buildings in Bangkok and Chachoengsao province worth 300 million baht, was not politically connected.

The case had happened in 1995-1996, during the country’s financial crisis in 1997 or known as Tomyum Kung crisis, which caused several financial institutions to collapse, one of them is BMB.

The secretary-general said the action was decided in accordance with the laws.

Yesterday AMLO has also frozen 6 items of the assets belonging to former chairman of the Credit Union Cooperative Klongchan, Supachai Srisuppa-aksorn, valuing at around 31 million baht.

Pol Col Sihanart said AMLO also planned to propose an adjustment to the anti-money laundering law.

The new proposal would include the protection of the injured party by permitting the court to allow the seized assets to be returned to the injured party instead of being given to the state.

Source: http://englishnews.thaipbs.or.th/amlo-impounds-assets-of-former-defunct-bmb-executive

-- Thai PBS 2015-04-10

[NeverSure]

"He said AMLO will give her 30 days to clarify where her earnings had come from."

This can be done only when people have no civil rights including a presumption of innocence until the government has solid evidence it can prove to a jury.

This can be done only when people have no civil rights including a right to not testify against themselves.

This can be done only when people don't have these basic civil rights:

Amendment IV

"The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized."

[Lite Beer]

Democrat threatens to sue Seehanat
THE NATION

BANGKOK: -- Says amlo chief being unfair targetting his mother over embezzlement charges

DEMOCRAT Party member Atavit Suwannapakdee has threatened to take legal action against the Anti-Money Laundering Office (AMLO) chief for accusing his mother of embezzlement when she was serving as a senior bank executive in charge of lending.

AMLO is seeking a court order to seize 22 assets worth more than Bt300 million from Pakinee Suwanna-pakdee, a former executive vice president of the now-defunct First Bangkok City Bank.

In 2004, the Bank of Thailand accused her and some other bank executives of money-laundering, AMLO secretary-general Seehanat Prayoon-rat told the press yesterday, adding that the accused had escaped arrest and that the statute of limitations for the case had expired in October 2012.

In February, AMLO's board of executives resolved to have public prosecutors seek a court order for the seizure of the Bt300-million plus in assets believed to have been earned from the alleged crime.

Atavit, a former Bangkok MP, told Isra News yesterday that he would sue Seehanat and other people for wrongly accusing his mother. However, he refused to identify other possible defendants.

The politician said he was "100 per cent certain" of his mother's innocence, adding that she had approved loans to clients who had later failed to pay them back after the 1997 financial crisis.

"She was not able to get the loans repaid, but this was not cheating," he said, adding that AMLO was being unfair by using the anti-money-laundering law against his mother.

Atavit also claimed that AMLO had revived the case against his mother after his party launched a censure debate against former prime minister Yingluck Shinawatra.

Meanwhile, Seehanat said AMLO had resolved to confiscate some Bt31.7 million in assets in relation to the embezzlement scandal involving the Klongchan Credit Union Cooperative. He said this decision was made on Wednesday.

Among the assets to be confiscated are land title deeds, bank passbooks, cash, safes, buildings and cars.

The cooperative's former chairman, Supachai Srisupa-aksorn, is accused of embezzling more than Bt21 billion from the credit union, the AMLO chief said. Seehanat told the press conference yesterday that AMLO had come up with measures to help members of the cooperative who had been affect?ed by this embezzlement both in the short and long terms.

He said AMLO was seeking to have the anti-money-laundering law amended to protect the rights of damaged parties. The amended version would allow the court to give assets confiscated from the offender to the damaged party directly. He added that this would allow damaged parties to make up their losses more quickly.

Source: http://www.nationmultimedia.com/politics/Democrat-threatens-to-sue-Seehanat-30257882.html

-- The Nation 2015-04-11

[maidee]

simple, no ?

how did she afford 22 assets worht 300 million baht ?

did she work 300 years for a 1 million baht salary ?

or 30 years for a 10 million baht salary ?

or 3 years for a 100 million baht salary ?

[Sviss Geez]

simple, no ?

how did she afford 22 assets worht 300 million baht ?

did she work 300 years for a 1 million baht salary ?

or 30 years for a 10 million baht salary ?

or 3 years for a 100 million baht salary ?

It may or may not apply in this case, I din't know, neither do you, but have you never heard of inheritances, or making good investments? Just because someone's salary is less than the value of their assets doesn't necessarily make them a criminal.

[Gunna]

simple, no ?

how did she afford 22 assets worht 300 million baht ?

did she work 300 years for a 1 million baht salary ?

or 30 years for a 10 million baht salary ?

or 3 years for a 100 million baht salary ?

It may or may not apply in this case, I din't know, neither do you, but have you never heard of inheritances, or making good investments? Just because someone's salary is less than the value of their assets doesn't necessarily make them a criminal.

But she acts like a criminal

In another news article it said she fled and above it says

" the accused had escaped arrest and that the statute of limitations for the case had expired in October 2012."

Reading this should make JOC happy as she probably isn't a Red supporter

Edited April 11, 2015 by Gunna

[JOC]

simple, no ?

how did she afford 22 assets worht 300 million baht ?

did she work 300 years for a 1 million baht salary ?

or 30 years for a 10 million baht salary ?

or 3 years for a 100 million baht salary ?

It may or may not apply in this case, I din't know, neither do you, but have you never heard of inheritances, or making good investments? Just because someone's salary is less than the value of their assets doesn't necessarily make them a criminal.

But she acts like a criminal

In another news article it said she fled and above it says

" the accused had escaped arrest and that the statute of limitations for the case had expired in October 2012."

Reading this should make JOC happy as she probably isn't a Red supporter

YES!!

But

" the accused had escaped arrest and that the statute of limitations for the case had expired in October 2012."

Still very worried about Art 44 overrules civil laws statute of limitations. In other words there are no law, apart from Art 44.

[robblok]

simple, no ?

how did she afford 22 assets worht 300 million baht ?

did she work 300 years for a 1 million baht salary ?

or 30 years for a 10 million baht salary ?

or 3 years for a 100 million baht salary ?

It may or may not apply in this case, I din't know, neither do you, but have you never heard of inheritances, or making good investments? Just because someone's salary is less than the value of their assets doesn't necessarily make them a criminal.

But she acts like a criminal

In another news article it said she fled and above it says

" the accused had escaped arrest and that the statute of limitations for the case had expired in October 2012."

Reading this should make JOC happy as she probably isn't a Red supporter

If she is corrupt go after her.. I don't care what side.. I wish many more of those HISO's who think they are untouchable loose their assets and get thrown in jail.. on both sides. I don't care corrupt is corrupt.. (of course they do need some proof) and statue of limitation should be far longer on corruption cases.

[casualbiker]

Interesting that she supposedly "escaped arrest" in 2004 yet she was still a member of TOT's board in 2005.

http://www.nationmultimedia.com/2005/09/13/business/data/business_18587601.html

[FangFerang]

This will be another filing against yellow shirt supporters to prove the government is impartial...no convictions of course, just filings that take, oh, years, whereas other cases against the "wrong people" are judged in a week.

I am not buying it -- and neither is anyone else that counts.

[Bluespunk]

"The new proposal would include the protection of the injured party by permitting the court to allow the seized assets to be returned to the injured party instead of being given to the state."

Seriously?

This wasn't done before?

[Strangebrew]

ok you make 10,000 baht a year work 10 years or 100,000 baht total but at the end of 10 years your assets total 300,000,000 baht how can that happen?

[casualbiker]

ok you make 10,000 baht a year work 10 years or 100,000 baht total but at the end of 10 years your assets total 300,000,000 baht how can that happen?

Who only earns 10,000baht a YEAR???

[SABloke]

This will be another filing against yellow shirt supporters to prove the government is impartial...no convictions of course, just filings that take, oh, years, whereas other cases against the "wrong people" are judged in a week.

I am not buying it -- and neither is anyone else that counts.

You're the only person that thinks you count.

[Thai at Heart]

This is obviously a skeleton that's been in the closet and everyone has known about it and done nothing. Disgusting.

[Prbkk]

Yes, well loans made to people who had no intention of paying them back were central to the collapse of the much larger Bangkok Bank of Commerce , a key factor in the crisis of 1997 ( affecting millions of people in Thailand, the region, around the world). There should not be a statute of limitations on financial crime/fraud/corruption in the same way there is not for murder.