KTB offenders: Paying for the sin of the 'big boss'

[webfact]

TELL IT AS IT IS
KTB offenders: Paying for the sin of the 'big boss'
Pornpimol Kanchanalak
Special to The Nation

BANGKOK: -- On August 26 the Supreme Court's criminal division for political officeholders returned a guilty verdict against 19 former Krung Thai Bank employees for colluding on and abetting the irregular approval of a Bt9-billion loan.

The ruling was an epic decision, for many reasons.

First, it proved that the court had real teeth and is prepared to exercise its authority to the fullest extent. Second, the mass convictions of 19 officials struck a historic blow against white-collar crime in Thailand. Third, all of the offenders dutifully turned up to face the verdict in court, except one, still debatably the ringleader - aka the "big boss". Fourth, the combined age of the offenders stood at over 1,000 years, the case having taken a full 12 years to be completed.

During those years, the lives of the 19 defendants were turned upside down. Lawyers' fees mounted to exorbitant levels. The worries, stress and anxiety grew exponentially as time went by. Some in the dock wished that the "coup de grace" would come quickly so as to end their misery. During the whole time, their families agonised with them. Hundreds of innocent bystanders got swept under by the riptide.

Two weeks after the monumental verdict, one of those found guilty passed away from liver cancer. Some observers reckoned it was a blessed escape from years of confinement. But however one looks at it, in humanitarian terms the event was a tragedy. How many more now face the same fate as their only means of escape from prison? After all, jail terms of between 12 and 18 years mean many offenders will be pushing 100 before they get the chance to walk this Earth as free men.

Prison is, notoriously, no place for the fainthearted. Hardcore criminals might find it a refuge: for them life inside can be safer than out. But how these bankers will cope is beyond imagination.

Meanwhile the furtive Big Boss, whose instruction reportedly propelled the crime, is nowhere to be found. Nobody is even certain of his identity. Obviously, he can't be a "little person", like the rest of us. A loan of Bt9 billion is not chump change.

For perspective, it is worth noting that successive Thai governments have used Krung Thai and other state-owned banks as off-budget stimulus mechanisms for the country's economy. The Thai financial crisis of 1997 saw a significant dwindling of the country's reserves thanks to the government "rescue" strategy of turning huge private debts into public ones. It would be natural to assume that KTB play a big role in that strategy.

This is not to say that the borrower in this recent questionable transaction was thoroughly creditworthy. But in this instance, Thailand is no exception. Mega-loans in emerging as well as developed countries are often borderline risky, especially in the housing and real estate sector. The 1989-91 Savings and Loan crisis in the US was caused in part by imprudent real estate lending as well as fraud. The same goes for the 2007 financial crisis. Today, another major financial earthquake is looming. Since 2007, the assets of Chinese banks have grown 400 per cent and now stand at US$31 trillion, against the country's $10 trillion in gross domestic product. Much of the banks' lending went to build new cities and housing projects across China - which have since stood empty. The housing loans were intended by the government to boost the country's growth, but the strategy went awry.

In Thailand, a host of KTB top executives have faced legal problems for implementing the government's policy. In some cases, it's not that they were dishonest and took kickbacks from borrowers, but because they were in the wrong place at the wrong time. Some years ago, one rising star of our financial sector took the helm of KTB and promptly came face to face with a storm of legal woes. The stress mounted and he quickly learned he could trust no one. Alcohol became his only friend and he eventually suffered a stroke.

In the end, a potentially enormous source of Thai human capital left the country to spend his most productive years at a prestigious US university, where he lived life as a troubled soul.

Many will have been gratified by the Supreme Court's verdict, after years of seeing the rich and powerful get away with murder - sometimes literally. Corruption and a culture of impunity have become our national cancer, but the verdict offered signs of a cure.

But as His Majesty once said of the extrajudicial killings during the "war on drugs" undertaken by the government in 2003, one single innocent life unjustly taken is one too many.

So, we have to ask ourselves, what of the KTB officials who took no active or conscious part in this transaction, who received no financial benefit from this questionable loan, but were simply asked to do their job, perhaps more quickly than usual? What about them, sitting in jail and left to rot in a hell on earth? What about their lives, and the families and loved ones who suffer with them?

We have to ask ourselves - how many of those KTB officials were merely doing their job when they were caught in a net cast wide in a bid to catch the real thief, who nevertheless escaped?

Only when we put ourselves in their shoes will we have the answer.

Source: http://www.nationmultimedia.com/opinion/KTB-offenders-Paying-for-the-sin-of-the-big-boss-30268976.html

-- The Nation 2015-09-17

[jaidam]

The big boss is overseas. Using Thai court logic, he wasn't in Thailand therefore he had nothing to do with the crime. Worked for him as regards his Bangkok terrorist insurrection and subsequent sacking and burning of Bangkok, same rules apply here.

[Seastallion]

"We have to ask ourselves - how many of those KTB officials were merely doing their job when they were caught in a net cast wide in a bid to catch the real thief, who nevertheless escaped?"

They had their day in court, didn't they?

The REAL problem is suppression of whistle-blowers and the defamation law. Also the lack of confidence in employment laws.

No employee will ever say "NO" to an order to do something irregular because they'll lose their job, get sued, and/or worse.

[Tatsujin]

"So, we have to ask ourselves, what of the KTB officials who took no active or conscious part in this transaction, who received no financial benefit from this questionable loan, but were simply asked to do their job, perhaps more quickly than usual?"

Well, perhaps they might learn something from this, they should after all already know their own laws, what is and is not corrupt, and I am sure they all knew what they were doing was illegal.

They really also should have learned by now that the big fishes rarely get caught, and as long as the sheeple continue to do as they are told without question, they will be the ones left whistling in the wind to take all the punishments.

Ultimately it's a choice. They chose to break the law. Som nom na.

[worgeordie]

So the majority (except 1) who where involved in approving the loan,

in one way or another,are now in prison, BUT what about those that

received the loans,are they allowed to be let off scott free ?

regards Worgeordie

[whatproblem]

What about looking into the assets of the high ranking bankers and government officials,it's easy to see who is stealing

[robblok]

So the majority (except 1) who where involved in approving the loan,

in one way or another,are now in prison, BUT what about those that

received the loans,are they allowed to be let off scott free ?

regards Worgeordie

Plus the one who ordered the loan despite knowing that it would never be paid back cant be tried because he is not in Thailand. This is one of the bigger reasons why he stays away. This is strong case against him (there are others) that will see him do jail-time. His supporters here on the forum will always come out with the examples of the weaker cases to say its political while forgetting about the stronger cases like this one and trying to bribe judges.

[timewilltell]

Well in the case of Colin Vard whose house was stolen by a gang of money lenders and their conspirators the Xxxxx bank authorized a 10 million baht mortgage to a woman of straw with a black credit history on a house bought for little over 2 million baht ON THE SAME DAY. the bank manager has since retired and the bank is claiming to all fine. It is money laundering by bank officials and still they carry on. Of course the banks officials are not the same as those involved in this case but the problem is bigger than just this story.

The xxxxxx Bank is up to similar tricks, lending to a money lender who bought stolen land from a criminal even though the bank was already involved in a court case as co-defendant with the same money lender buying from the same criminal offering a 13 million baht mortgage on more stolen land. Some local staff authorizing or facilitating loans to people who should never be given them yet rather than resolving the matter internally the banks use their substantial funds to employ the best lawyers to fight the victims. It is corruption. It is money laundering and it is rampant yet no bank will tackle the problem as they are all too busy pretending they are responsible institutions,.

Can't name the banks because bizarrely that would be defamation but K is a common denominator.

Sent from my iPad using Tapatalk

Edited September 17, 2015 by timewilltell

[Srikcir]

"the case having taken a full 12 years to be completed....Some observers reckoned it was a blessed escape from years of confinement."

Am I reading this correctly that the

- accussed were in prison during the 12 years before a guilty verdict was delivered

- jail terms of between 12 and 18 years will be added to their prison terms

That kind of judicial system has failed to "exercise its authority to the fullest extent."

[TallGuyJohninBKK]

No.. these defendants were NOT in custody during the course of the proceedings... Only AFTER the final verdict.

As for the OP article, it kind of sounds like a backhanded appeal to let the old geezer former bankers (at this point) out of their sentences...

Also, it seems kind of curious that this particular column fails to even mention by name the number one defendant in the case, even though he was Prime Minister and IN Thailand at the time the wrongdoing occurred. It's not like everyone doesn't know who he is and why he's the only one of the accused who hasn't yet been found guilty (because he did a runner to Dubai to escape this and all the other cases pending).

For one thing, if this case hadn't taken 12 years to reach its conclusions, the defendants wouldn't have been so old as they are.

For another, if corruption at all levels wasn't so endemic and commonplace here, then maybe someone somewhere in the whole process that led to the 9B baht loan would have blown the whistle and stopped the whole thing. But of course, this being Thailand, no one did.

[greenchair]

So the majority (except 1) who where involved in approving the loan,

in one way or another,are now in prison, BUT what about those that

received the loans,are they allowed to be let off scott free ?

regards Worgeordie

That's right. These guys did their job.they gave a loan. I am not sure, but I think all the money was paid back. I also wondered about the corrupt group that borrowed the money.

This was a very hefty sentence.

They did not deserve it.

Absolutely shocking.

[Baerboxer]

So the majority (except 1) who where involved in approving the loan,

in one way or another,are now in prison, BUT what about those that

received the loans,are they allowed to be let off scott free ?

regards Worgeordie

Plus the one who ordered the loan despite knowing that it would never be paid back cant be tried because he is not in Thailand. This is one of the bigger reasons why he stays away. This is strong case against him (there are others) that will see him do jail-time. His supporters here on the forum will always come out with the examples of the weaker cases to say its political while forgetting about the stronger cases like this one and trying to bribe judges.

No, no Rob. He's totally innocent, he even says so himself, on CNN no less. His sister and all his family, in-laws, distant relations, mates and lackeys - all totally innocent.

Some posters think all those outstanding charges are all just politically motivated (or claim others do it, have done it or he's not the worst) and one actually claims they are all bogus anyway (he seems to forget this case).

Would this case have been covered by the Amnesty farce his sister's puppet regime tried to fabricate? He won't come back without an Amnesty and no one seems to have the balls to actually fill the extradition requests in.

Wonder what his cut of this was? Or if he just spread it around to grease the wheels and pay off favors?

[Baerboxer]

So the majority (except 1) who where involved in approving the loan,

in one way or another,are now in prison, BUT what about those that

received the loans,are they allowed to be let off scott free ?

regards Worgeordie

That's right. These guys did their job.they gave a loan. I am not sure, but I think all the money was paid back. I also wondered about the corrupt group that borrowed the money.

This was a very hefty sentence.

They did not deserve it.

Absolutely shocking.

Was all the money paid back - can you provide links that show that please?

No the didn't do their job, far from it. They were forced by a corrupt PM to give a loan to an organization that had already been turned down as a bad risk. The loans were not used for the purpose intended but for personal benefit.

White collar crime has been clamped down on and punished much more severely in developed countries in recent times. The knock on effects of their greed can affect many.

Absolutely shocking - that the number 1 defendant is allowed to get away with being charged as he's already a criminal fugitive. Should be extradited.

[greenchair]

So the majority (except 1) who where involved in approving the loan,

in one way or another,are now in prison, BUT what about those that

received the loans,are they allowed to be let off scott free ?

regards Worgeordie

That's right. These guys did their job.they gave a loan. I am not sure, but I think all the money was paid back. I also wondered about the corrupt group that borrowed the money.

This was a very hefty sentence.

They did not deserve it.

Absolutely shocking.

Was all the money paid back - can you provide links that show that please?

No the didn't do their job, far from it. They were forced by a corrupt PM to give a loan to an organization that had already been turned down as a bad risk. The loans were not used for the purpose intended but for personal benefit.

White collar crime has been clamped down on and punished much more severely in developed countries in recent times. The knock on effects of their greed can affect many.

Absolutely shocking - that the number 1 defendant is allowed to get away with being charged as he's already a criminal fugitive. Should be extradited.

Is it their fault that the loan they gave in good faith was used for another purpose.

We went to 5 different banks to get a house loan. All said we were a bad risk. The 6th bank gave us the loan. We have never missed a payment in 9 years. The bank had to use a bit of creative thinking and it was a risk to get the loan through.

That's what banks do.

Governments encourage banks to push through risky loans to boost the economy all the time.

The present government, just pushed through hefty loans for debt ridden farmers and civil servants to boost his economic figures. This is no different.

Absolutely shocking that former pm are blamed for every problem in this country, when everybody knows it is one party's inability to accept defeat that has brought this country to its knees. The bankers were doing their job!!!!

[ratcatcher]

The big boss is overseas. Using Thai court logic, he wasn't in Thailand therefore he had nothing to do with the crime. Worked for him as regards his Bangkok terrorist insurrection and subsequent sacking and burning of Bangkok, same rules apply here.

An old story, but one which Thaksin will have to deal with when (if) he returns, as so many believe will happen.

http://www.nationmultimedia.com/homeThaksin-hit-with-court-case-over-KTB-loans-30184131.html

[elgordo38]

What about looking into the assets of the high ranking bankers and government officials,it's easy to see who is stealing

These guys stand shoulder to shoulder it would be hard to find a chink in their armor. Their bastion of wealth protects them like a blanket insurance policy. They are financial phantoms they swoop in for the financial kill and then disappear again leaving little evidence behind and with their position in life evidence really means nothing. They know they are invincible in today's society. The robber barons of yesteryear have just morphed into a new more powerful entity where their money spread in the right places buys them immunity from just about everything. The inverse side is us the little people just like sheep we wait to be shorn used up and ultimately thrown away. Yes over the years we have gained much by unionizing and collective bargaining but that is all being stripped away by Republican governors on a mission for the rich. Now these same governors are running for the highest office in the land to "Restore wealth to America" Wealth to whom?. As an example cheap money is now at play so two of the largest beer companies can merge and control 30% of the beer market. These amalgamations usually end badly for the lowly worker with a mortgage and family. They do this with the blessing of the politicians elected to protect us. Soon 1 beer company will control it all and charge what they damn well please. Such is capitalism. But in the end they cannot win as Socialism has the stronger human numbers and the human spirit will only take so much before it rebels.

[scorecard]

So the majority (except 1) who where involved in approving the loan,

in one way or another,are now in prison, BUT what about those that

received the loans,are they allowed to be let off scott free ?

regards Worgeordie

That's right. These guys did their job.they gave a loan. I am not sure, but I think all the money was paid back. I also wondered about the corrupt group that borrowed the money.

This was a very hefty sentence.

They did not deserve it.

Absolutely shocking.

Was all the money paid back - can you provide links that show that please?

No the didn't do their job, far from it. They were forced by a corrupt PM to give a loan to an organization that had already been turned down as a bad risk. The loans were not used for the purpose intended but for personal benefit.

White collar crime has been clamped down on and punished much more severely in developed countries in recent times. The knock on effects of their greed can affect many.

Absolutely shocking - that the number 1 defendant is allowed to get away with being charged as he's already a criminal fugitive. Should be extradited.

Is it their fault that the loan they gave in good faith was used for another purpose.

We went to 5 different banks to get a house loan. All said we were a bad risk. The 6th bank gave us the loan. We have never missed a payment in 9 years. The bank had to use a bit of creative thinking and it was a risk to get the loan through.

That's what banks do.

Governments encourage banks to push through risky loans to boost the economy all the time.

The present government, just pushed through hefty loans for debt ridden farmers and civil servants to boost his economic figures. This is no different.

Absolutely shocking that former pm are blamed for every problem in this country, when everybody knows it is one party's inability to accept defeat that has brought this country to its knees. The bankers were doing their job!!!!

Do you really think the public will buy your comment.

It's obvious the bankers approved the loan because they were told (repeat told) to approve the loan.

The paymaster was also charged as the first defendant in this case, have you forgotten that? The case against him is currently postponed because he absconded

And note he absconded just before he was found guilty of a serious charge, serious abuse of authority, and was sentenced to 2 years in jail.

[Nobb]

The Ktb offenders new exactly what they were doing and looking for a big bonus. I not feel sorry for them but what about the people they stole and cheated the KTB customers from. They should pay because the people they cheated and stole from are still suffering also!

[ratcatcher]

What about looking into the assets of the high ranking bankers and government officials,it's easy to see who is stealing

These guys stand shoulder to shoulder it would be hard to find a chink in their armor. Their bastion of wealth protects them like a blanket insurance policy. They are financial phantoms they swoop in for the financial kill and then disappear again leaving little evidence behind and with their position in life evidence really means nothing. They know they are invincible in today's society. The robber barons of yesteryear have just morphed into a new more powerful entity where their money spread in the right places buys them immunity from just about everything. The inverse side is us the little people just like sheep we wait to be shorn used up and ultimately thrown away. Yes over the years we have gained much by unionizing and collective bargaining but that is all being stripped away by Republican governors on a mission for the rich. Now these same governors are running for the highest office in the land to "Restore wealth to America" Wealth to whom?. As an example cheap money is now at play so two of the largest beer companies can merge and control 30% of the beer market. These amalgamations usually end badly for the lowly worker with a mortgage and family. They do this with the blessing of the politicians elected to protect us. Soon 1 beer company will control it all and charge what they damn well please. Such is capitalism. But in the end they cannot win as Socialism has the stronger human numbers and the human spirit will only take so much before it rebels.

How did we get from KTB offenders to the political & wealth system in the USA?

The rich control the world. No matter whether it is China, India, U.K., Saudi Arabica or Thailand.

It is as it always was and forever more shall be. Amen.

[robblok]

So the majority (except 1) who where involved in approving the loan,

in one way or another,are now in prison, BUT what about those that

received the loans,are they allowed to be let off scott free ?

regards Worgeordie

That's right. These guys did their job.they gave a loan. I am not sure, but I think all the money was paid back. I also wondered about the corrupt group that borrowed the money.

This was a very hefty sentence.

They did not deserve it.

Absolutely shocking.

Was all the money paid back - can you provide links that show that please?

No the didn't do their job, far from it. They were forced by a corrupt PM to give a loan to an organization that had already been turned down as a bad risk. The loans were not used for the purpose intended but for personal benefit.

White collar crime has been clamped down on and punished much more severely in developed countries in recent times. The knock on effects of their greed can affect many.

Absolutely shocking - that the number 1 defendant is allowed to get away with being charged as he's already a criminal fugitive. Should be extradited.

Is it their fault that the loan they gave in good faith was used for another purpose.

We went to 5 different banks to get a house loan. All said we were a bad risk. The 6th bank gave us the loan. We have never missed a payment in 9 years. The bank had to use a bit of creative thinking and it was a risk to get the loan through.

That's what banks do.

Governments encourage banks to push through risky loans to boost the economy all the time.

The present government, just pushed through hefty loans for debt ridden farmers and civil servants to boost his economic figures. This is no different.

Absolutely shocking that former pm are blamed for every problem in this country, when everybody knows it is one party's inability to accept defeat that has brought this country to its knees. The bankers were doing their job!!!!

Funny that you believe this, they were forced to give this money by Thaksin who knew this loan would never be repaid. It were his buddies who got the money. This is why he is defendant nr one. This loan was never paid back and not given in good faith. That is why they are convicted this is why your hero can't come back because this is one of the serious charges against him.

[MaxLee]

For many many years the Thaksin cronies of KTB have been sucking the trough dry......

[greenchair]

So the majority (except 1) who where involved in approving the loan,

in one way or another,are now in prison, BUT what about those that

received the loans,are they allowed to be let off scott free ?

regards Worgeordie

That's right. These guys did their job.they gave a loan. I am not sure, but I think all the money was paid back. I also wondered about the corrupt group that borrowed the money.

This was a very hefty sentence.

They did not deserve it.

Absolutely shocking.

Was all the money paid back - can you provide links that show that please?

No the didn't do their job, far from it. They were forced by a corrupt PM to give a loan to an organization that had already been turned down as a bad risk. The loans were not used for the purpose intended but for personal benefit.

White collar crime has been clamped down on and punished much more severely in developed countries in recent times. The knock on effects of their greed can affect many.

Absolutely shocking - that the number 1 defendant is allowed to get away with being charged as he's already a criminal fugitive. Should be extradited.

Is it their fault that the loan they gave in good faith was used for another purpose.

We went to 5 different banks to get a house loan. All said we were a bad risk. The 6th bank gave us the loan. We have never missed a payment in 9 years. The bank had to use a bit of creative thinking and it was a risk to get the loan through.

That's what banks do.

Governments encourage banks to push through risky loans to boost the economy all the time.

The present government, just pushed through hefty loans for debt ridden farmers and civil servants to boost his economic figures. This is no different.

Absolutely shocking that former pm are blamed for every problem in this country, when everybody knows it is one party's inability to accept defeat that has brought this country to its knees. The bankers were doing their job!!!!

Funny that you believe this, they were forced to give this money by Thaksin who knew this loan would never be repaid. It were his buddies who got the money. This is why he is defendant nr one. This loan was never paid back and not given in good faith. That is why they are convicted this is why your hero can't come back because this is one of the serious charges against him.

Well, if ordered it and they were forced, then by the law they are not guilty.

According to you.

And where is the link that the money was not paid back? ??I only see ,they were guilty because the money was not used for its intended purpose.

Hardly their bad.

And geordie was saying a valid point.

Were the borrowers convicted also and given 18 year sentences? ??

[Baerboxer]

So the majority (except 1) who where involved in approving the loan,

in one way or another,are now in prison, BUT what about those that

received the loans,are they allowed to be let off scott free ?

regards Worgeordie

That's right. These guys did their job.they gave a loan. I am not sure, but I think all the money was paid back. I also wondered about the corrupt group that borrowed the money.

This was a very hefty sentence.

They did not deserve it.

Absolutely shocking.

Was all the money paid back - can you provide links that show that please?

No the didn't do their job, far from it. They were forced by a corrupt PM to give a loan to an organization that had already been turned down as a bad risk. The loans were not used for the purpose intended but for personal benefit.

White collar crime has been clamped down on and punished much more severely in developed countries in recent times. The knock on effects of their greed can affect many.

Absolutely shocking - that the number 1 defendant is allowed to get away with being charged as he's already a criminal fugitive. Should be extradited.

Is it their fault that the loan they gave in good faith was used for another purpose.

We went to 5 different banks to get a house loan. All said we were a bad risk. The 6th bank gave us the loan. We have never missed a payment in 9 years. The bank had to use a bit of creative thinking and it was a risk to get the loan through.

That's what banks do.

Governments encourage banks to push through risky loans to boost the economy all the time.

The present government, just pushed through hefty loans for debt ridden farmers and civil servants to boost his economic figures. This is no different.

Absolutely shocking that former pm are blamed for every problem in this country, when everybody knows it is one party's inability to accept defeat that has brought this country to its knees. The bankers were doing their job!!!!

So you think it's o k for a PM to instruct a bank to make a loan the bank's officers have already refused. The money from the loan was stolen, used for personal purposes. By whom hasn't been made clear in the reporting. But their was never any intention of repaying it. Someone was using the banks money as their own.

The former PM is only blamed for doing things illegally or corruptly. Perhaps if he returned and faced all these charges in court then he might show everyone just how innocent he really is?

But he won't. He prefers to remain a fugitive, engage expensive PR and lobbyists to try and gloss over such charges, and plot an amnesty whitewash for himself.

The bankers were most certainly not doing their job. They caved into pressure from the then PM instead of doing their job and acting in the bank's interest.

Do you actually understand the difference between knowingly lending money to help poor people and theft by rich crooks? One is loan the other fraud.

[EnglishJohn]

Ahh - the old argument.

Yes, everyone knew it was corrupt and illegal, but everybody does it and so why should they get punished when nobody else does ?.

The red-shirts here use that defence all the time.

This is obviously one of the main driving factors behind the amnesty bill. I wonder if all of these people would have got away with it - or would just the top ringleader have escaped punishment ?.

A clear example of why Thai people were right to take to the streets when that bill was passed in that disgraceful manner.

[Baerboxer]

The big boss is overseas. Using Thai court logic, he wasn't in Thailand therefore he had nothing to do with the crime. Worked for him as regards his Bangkok terrorist insurrection and subsequent sacking and burning of Bangkok, same rules apply here.

An old story, but one which Thaksin will have to deal with when (if) he returns, as so many believe will happen.

http://www.nationmultimedia.com/homeThaksin-hit-with-court-case-over-KTB-loans-30184131.html

I doubt he'll return unless the statute of limitations on this and the other 15 or so cases has expired; or he engineers his amnesty.

Too risky - pastry boxes, intimidation of judges, and violence don't seem to work anymore.

[mikemac]

So the majority (except 1) who where involved in approving the loan,

in one way or another,are now in prison, BUT what about those that

received the loans,are they allowed to be let off scott free ?

regards Worgeordie

That's right. These guys did their job.they gave a loan. I am not sure, but I think all the money was paid back. I also wondered about the corrupt group that borrowed the money.

This was a very hefty sentence.

They did not deserve it.

Absolutely shocking.

Was all the money paid back - can you provide links that show that please?

No the didn't do their job, far from it. They were forced by a corrupt PM to give a loan to an organization that had already been turned down as a bad risk. The loans were not used for the purpose intended but for personal benefit.

White collar crime has been clamped down on and punished much more severely in developed countries in recent times. The knock on effects of their greed can affect many.

Absolutely shocking - that the number 1 defendant is allowed to get away with being charged as he's already a criminal fugitive. Should be extradited.

Is it their fault that the loan they gave in good faith was used for another purpose.

We went to 5 different banks to get a house loan. All said we were a bad risk. The 6th bank gave us the loan. We have never missed a payment in 9 years. The bank had to use a bit of creative thinking and it was a risk to get the loan through.

That's what banks do.

Governments encourage banks to push through risky loans to boost the economy all the time.

The present government, just pushed through hefty loans for debt ridden farmers and civil servants to boost his economic figures. This is no different.

Absolutely shocking that former pm are blamed for every problem in this country, when everybody knows it is one party's inability to accept defeat that has brought this country to its knees. The bankers were doing their job!!!!

Funny that you believe this, they were forced to give this money by Thaksin who knew this loan would never be repaid. It were his buddies who got the money. This is why he is defendant nr one. This loan was never paid back and not given in good faith. That is why they are convicted this is why your hero can't come back because this is one of the serious charges against him.

Well, if ordered it and they were forced, then by the law they are not guilty.

According to you.

And where is the link that the money was not paid back? ??I only see ,they were guilty because the money was not used for its intended purpose.

Hardly their bad.

And geordie was saying a valid point.

Were the borrowers convicted also and given 18 year sentences? ??

..................."And where is the link that the money was not paid back?"...........................

If the money was paid back it would hardly be a story, now would it ?

[robblok]

So the majority (except 1) who where involved in approving the loan,

in one way or another,are now in prison, BUT what about those that

received the loans,are they allowed to be let off scott free ?

regards Worgeordie

That's right. These guys did their job.they gave a loan. I am not sure, but I think all the money was paid back. I also wondered about the corrupt group that borrowed the money.

This was a very hefty sentence.

They did not deserve it.

Absolutely shocking.

Was all the money paid back - can you provide links that show that please?

No the didn't do their job, far from it. They were forced by a corrupt PM to give a loan to an organization that had already been turned down as a bad risk. The loans were not used for the purpose intended but for personal benefit.

White collar crime has been clamped down on and punished much more severely in developed countries in recent times. The knock on effects of their greed can affect many.

Absolutely shocking - that the number 1 defendant is allowed to get away with being charged as he's already a criminal fugitive. Should be extradited.

Is it their fault that the loan they gave in good faith was used for another purpose.

We went to 5 different banks to get a house loan. All said we were a bad risk. The 6th bank gave us the loan. We have never missed a payment in 9 years. The bank had to use a bit of creative thinking and it was a risk to get the loan through.

That's what banks do.

Governments encourage banks to push through risky loans to boost the economy all the time.

The present government, just pushed through hefty loans for debt ridden farmers and civil servants to boost his economic figures. This is no different.

Absolutely shocking that former pm are blamed for every problem in this country, when everybody knows it is one party's inability to accept defeat that has brought this country to its knees. The bankers were doing their job!!!!

Funny that you believe this, they were forced to give this money by Thaksin who knew this loan would never be repaid. It were his buddies who got the money. This is why he is defendant nr one. This loan was never paid back and not given in good faith. That is why they are convicted this is why your hero can't come back because this is one of the serious charges against him.

Well, if ordered it and they were forced, then by the law they are not guilty.

According to you.

And where is the link that the money was not paid back? ??I only see ,they were guilty because the money was not used for its intended purpose.

Hardly their bad.

And geordie was saying a valid point.

Were the borrowers convicted also and given 18 year sentences? ??

At Neurenberg following orders did not hold why should it hold here. They are guilty they could have objected and not gone through with it.

[Acharn]

The big boss is overseas. Using Thai court logic, he wasn't in Thailand therefore he had nothing to do with the crime. Worked for him as regards his Bangkok terrorist insurrection and subsequent sacking and burning of Bangkok, same rules apply here.

I think you're trying to say that the Big Boss was Thaksin. Since the case was started 12 years ago, that would have been while Thaksin was Prime Minister, so it's unlikely he was the Big Boss. If he had been, I believe there would not have been any case started, because there would always be a chance he would be implicated if he was involved. I don't understand why this Big Boss can't be identified. Do these crooks not remember who gave them their orders?

[jaywalker]

So the majority (except 1) who where involved in approving the loan,

in one way or another,are now in prison, BUT what about those that

received the loans,are they allowed to be let off scott free ?

regards Worgeordie

That's right. These guys did their job.they gave a loan. I am not sure, but I think all the money was paid back. I also wondered about the corrupt group that borrowed the money.

This was a very hefty sentence.

They did not deserve it.

Absolutely shocking.

Was all the money paid back - can you provide links that show that please?

I read somewhere once that Thaksin was worth $1 billion USD once upon a time, but $700 million of it got confiscated. I guess he had the other $300 million overseas.

[Ulic]

Do as you are told, make the bad loans, keep your job...............go to jail.

Do the right thing, decline to sign off on the loan, possibly loose your job

.......hold your head high,...... stay out of jail.........Really not than hard a choice

in hindsight. The question is how many have the moral upbringing in Thailand

to make the right choice and not need to reflect back in hindsight. Certainly not

this group.