Irregularities in late tycoon's share transfers: Thai police chief

[webfact]

Irregularities in late tycoon's share transfers: police chief
JESSADA JANTARAK
THE NATION



BANGKOK: -- THERE were irregularities in transfers of a construction tycoon's shares to two women just days before his death, National Police chief General Somyot Poompanmuang said yesterday.

"I can tell you that there is evidence of irregularities both in terms of signatures and documents," Somyot said.

He spoke after convening a meeting of Central Investigation Bureau and Crime Suppression Division investigators looking into events surrounding the death of Chuwong Saetang.

Chuwong, a billionaire in the construction sector, died on June 27 in what Pol Lt-Colonel Banyin Tangpakorn, a former deputy commerce minister and MP, claims was a car accident.

The tycoon's family, however, suspects foul play in light of the fact that Banyin survived the crash unscathed and that a large volume of Chuwong's shares - worth nearly Bt300 million - was transferred to two women just days before his death without them knowing.

The two women are also close to Banyin, ongoing inquiries suggest.

"Police have confidence that there is adequate evidence to seek arrest warrants for those involved in the suspicious share transfers," Somyot said yesterday.

AEC Securities said in a statement yesterday that there were many reports about the Chuwong case in connection with the firm's stockbrokers but investors' ownership of shares was a personal matter, not relevant to the company.

AEC sought to assure its clients that the company was still a brokerage member of the Stock Exchange of Thailand and also under regulation of the Securities and Exchange Commission. The company was still providing brokerage services, as usual.

"Every clients' shares are integral, as they are deposited at the Thailand Securities Depository in the same way as asset-management firms' unit trusts, which are deposited at any custodian," the statement said.

In regard to clients' money, for an AEC account, it was also deposited in an escrow account (a third party where funds are separately deposited on behalf of brokerage firms for stock payments) in line with a law passed after the 1997 financial crisis.

At present, police have yet to conclude that suspicious transfers of Chuwong's shares led to his death.

"We will try to gather all evidence," Somyot said yesterday.

Also yesterday, Chuwong's widow and son submitted a letter addressed to Somyot, raising doubts about the autopsy on Chuwong, which they said seemed flawed.

"Some details in the autopsy report don't match photos the relatives have about Chuwong's body," the letter said.

The letter said the autopsy report failed, for example, to mention bruises around Chuwong's eyes.

Source: http://www.nationmultimedia.com/national/Irregularities-in-late-tycoons-share-transfers-pol-30266335.html


-- The Nation 2015-08-11

[ezzra]

The man was obviously was killed for his money by an orchestrated action in cahoots with several people

that some of them are highly placed... the police are acting like bumbling idiots by not seeing what is

very clear that this was a murder for monetary gain, big money too... this is the 900 pound gorilla in the

room that the police refuses to see or acknowledge.....

[worgeordie]

I think our cat could have come to the same conclusion,

but the police seem very slow in solving this.

regards Worgeordie

[SABloke]

The man was obviously was killed for his money by an orchestrated action in cahoots with several people

that some of them are highly placed... the police are acting like bumbling idiots by not seeing what is

very clear that this was a murder for monetary gain, big money too... this is the 900 pound gorilla in the

room that the police refuses to see or acknowledge.....

'Not seeing' and 'choosing not to see' are not the same thing

[ramrod711]

Never transfer shares to your mia noi, the accepted method is to transfer them to your gardener.

[DLock]

"The tycoon's family, however, suspects foul play in light of the fact that Banyin survived the crash unscathed and that a large volume of Chuwong's shares - worth nearly Bt300 million - was transferred to two women just days before his death without them knowing."

​This is the first time I have heard that the women were not aware shares were transferred to them...nice try to get them off the hook....

[Anthony5]

"The tycoon's family, however, suspects foul play in light of the fact that Banyin survived the crash unscathed and that a large volume of Chuwong's shares - worth nearly Bt300 million - was transferred to two women just days before his death without them knowing."

​This is the first time I have heard that the women were not aware shares were transferred to them...nice try to get them off the hook....

This is the first time I've heard about someone not able to comprehend a simple sentence.

Could it be that the "them" in "without them knowing" refers to the family?

Good try.

[Bakseeda]

"The tycoon's family, however, suspects foul play in light of the fact that Banyin survived the crash unscathed and that a large volume of Chuwong's shares - worth nearly Bt300 million - was transferred to two women just days before his death without them knowing."

​This is the first time I have heard that the women were not aware shares were transferred to them...nice try to get them off the hook....

I think that means , without the family knowing...

[nev]

What sane man would transfer 300 million baht to his mia noi's, no one would this was all done behind his back, as soon as the transfer was done they could not wait to knock him off.

[DLock]

"The tycoon's family, however, suspects foul play in light of the fact that Banyin survived the crash unscathed and that a large volume of Chuwong's shares - worth nearly Bt300 million - was transferred to two women just days before his death without them knowing."

​This is the first time I have heard that the women were not aware shares were transferred to them...nice try to get them off the hook....

This is the first time I've heard about someone not able to comprehend a simple sentence.

Could it be that the "them" in "without them knowing" refers to the family?

Good try.

Could be right.

I sit corrected.

[sammygood]

next they will say it was actually a suicide the billionaire wanted

[Colabamumbai]

The driver is the key, if not the killer.

[FangFerang]

The family does not want the girlfriends to get anything. The girlfriends want something for their TLC and affection. The whole thing is suspicious. The girls could have backed it to make sure they kept the transfers. The family could have backed it because they do not want the transfers legitimized.

It is easy to forge documents here and have them accepted as originals. Numerous farang have had their property sold out from under them.

It is unclear, murky and not a clear cut case from the "evidence", nor the reports, and being Thailand the guy might have just pissed off a taxi driver (who cut him off and made the car swerve into a tree).

As in most reports, the truth is rarely known, reported or concluded.

And how about that blue diamond?

Smoke and mirrors are the national dish lately.

[tx22cb]

The 2 young ladies were never going to get to keep the 300 mln Bht - they are just pawns.

They might have got a few million to act as the "front women" and to keep quiet.

The other 290 mln would have gone to the corrupt <<self-censored>> other "big" person.

[fireplay]

What sane man would transfer 300 million baht to his mia noi's, no one would this was all done behind his back, as soon as the transfer was done they could not wait to knock him off.

But why the need to knock him off if the transfer was legit? Cush jobs, big transfer payout, why bite or kill the hand that feeds you?

Ok sorry i see now...behind his back mudda to cover da trax. Got it.

Edited August 11, 2015 by fireplay

[Oziex1]

The man was obviously was killed for his money by an orchestrated action in cahoots with several people

that some of them are highly placed... the police are acting like bumbling idiots by not seeing what is

very clear that this was a murder for monetary gain, big money too... this is the 900 pound gorilla in the

room that the police refuses to see or acknowledge.....

'Not seeing' and 'choosing not to see' are not the same thing

And that choice is bought for how much?

[h90]

Never transfer shares to your mia noi, the accepted method is to transfer them to your gardener.

but you could fall over the watering hose and brake your neck

[Acharn]

Never transfer shares to your mia noi, the accepted method is to transfer them to your gardener.

I think transferring them to your caddy is close enough to that to be acceptable. The transfer to the stockbroker is a bit less orthodox.

[Narratio]

ramrod711 has it right.

The 'approved' method is to transfer it to the gardener, although the maid and chauffeur are also acceptable under certain circumstances, like impending indictment, going on the run, that sort of thing.

These social skills are complicated... I think a letter to "Miss Manners" will clear it up.