Thaksin's Children To Be Forced To Pay Income Tax At 37 Per Cent Rate

[sriracha john]

Borrowed from the "What Thaksin Has Done Wrong" thread:

Still so many questions

One year after the Shin Corp scandal broke out, many questions are left unanswered, writes Korn Chatikavanij, Democrat Party member.

One year on from the historic deal between the Shinawatra family and Temasek Holdings, the official Singaporean investment arm, the fallout continues with no end in sight.

Deal of the Century

At the time, the deal represented for many the crystallisation of all the abuses of the Thaksin administration - all designed to add value to his listed companies.

The public was finally presented with a number - the now infamous Bt73.3 billion - and rightly asked how was this possible. Unfortunately, the answers were not pleasant. The deal was possible because of a series of policies designed to aid and abet Shin Corp companies, ranging from illegal amendments of concession terms to waivers of tax payments be it customs duty on imported satellite equipment to excise tax obligations on mobile phone revenues.

It was possible also because the Revenue Department sided with the family in allowing them to get away with not paying income tax in a series of transactions dating back to 1999 right up to the day before the Temasek deal itself.

It was possible because the Telecom Act was amended to allow the foreign ownership limit to rise from 25 per cent to 49 per cent - one day before the transaction.

It was possible because the Shinawatra family colluded with Temasek in setting up an ownership structure that the Commerce Ministry has subsequently concluded was illegal.

Furthermore, it may have been possible because Thaksin had always illegally owned the shares sold to Singapore and, perhaps worst of all, was in a position to make formal and informal side agreements with Singapore to assure them of future benefits related to the transaction.

Why else would the Cabinet have approved a tax incentive scheme in December 2005, weeks before the deal was announced, that debilitates its future tax revenues and primarily benefited Advanced Info Service (AIS)? Why else, indeed, would Singapore continue to show through its actions that it remains more than friendly to Thaksin, regardless of the sentiments of the current government?

Of all Thaksin's abuses, if the extrajudicial drug killings and Tak Bai atrocities symbolised his disregard for the rule of law and human rights, then the Shin Corp transaction symbolised his greed and lack of proper ethics.

Yet there remain more important questions that await answers:

1. Who really owned the shares sold to Temasek? We all know that it would have been illegal for Thaksin to have owned or controlled shares as a prime minister, and none of us believe that his son, Panthongtae, was the real owner (especially after his recent testimony to the Assets Examination Committee). Were shares of Ample Rich ever properly transferred to his son and daughter? How were the shares "bought" by Ample Rich from Thaksin ever paid for? Were the dividends received by Ample Rich from Shin Corp between 2003 and 2005 ever paid to Panthongtae? And even if they were, to whom did Panthongtae pass them on?

2. Will Temasek confirm that it dealt with Panthongtae as the decision-maker, or did it meet with either Thaksin or his wife, Khunying Pojaman, to negotiate the deal?

3. When UBS in Singapore reported to the Thai Securities and Exchange Commission (SEC) under rule 264-2 that Ample Rich had acquired additional shares, it did so because the 5-per-cent limit was triggered. However, the trigger only occurred because the Ample Rich shares were combined with another 5.4 million shares held in a private account at UBS. Did UBS do this because both blocks of shares belonged to the same owner? Why does the SEC not take a hard line on this question?

4. These same UBS private accounts bought Shin Corp shares throughout the negotiation period between Shinawatra and Temasek. Were they involved in insider trading?

5. Yingluck Shinawatra sold shares in AIS consistently between October 2005 and January 2006 at an average price of Bt105. She was subsequently a signatory to the sale to Temasek on January 23, 2006. The tender-offer price for minority shareholders of AIS was set at Bt75, and other AIS shareholders never again saw their share price as high as the price sold by Yingluck. The Stock Exchange of Thailand had amazingly said this was not insider trading. The SEC said nothing until after the coup in September, when it said it was still "investigating". Are we going to hear a result? Or will the SEC continue to see which way the wind blows?

6. The SEC controversially allowed a waiver to Temasek from tendering for shares in iTV and Shin Satellite. The SEC gave the reason that the waiver was given because Temasek was targeting AIS and not these two companies. However, regardless of intention, ownership has passed on to Temasek and one year on they have not done anything with these companies they apparently did not want. Given Temasek's intransigence on this matter, and to be fair to minority shareholders, the SEC should make Temasek conduct a tender at a price based on the transaction date of a year ago.

7. Once the courts confirm the Commerce Ministry's assertion that Temasek is illegally controlling Shin Corp, how will this issue be resolved?

Since the structure used to acquire shares from the Shinawatra family that fateful day a year ago was illegal, the courts may be in a position to rule that the transaction be declared null and void. That would mean that the shares bought from the Shinawatra family reverts back to them, and Temasek can sue the family for a return of its money. The acquisition from the investing public cannot fairly be reversed, however, and so Temasek would remain a 40 per cent-plus owner of Shin Corp - within the legal limits.

I would then hope that the unfair concession amendments that were made at the state's expanse all be reversed, with the levying of any penalties that the courts deemed fair and reasonable.

This would be a fair result - and certainly better than a scenario whereby Thaksin is allowed to get away with the ill-gotten gains from the sale, or to be in a position to acquire back shares from Temasek (as forced sellers) at a deep discount to the price received a year ago.

- The Nation

[sriracha john]

It appears the Associated Press decided not to include the drugged-out appearance of her brother, Panthongtae, from Jai Dee's photo:

Pinthongta Shinawatra gives a traditional greeting as she arrives at a hearing Wednesday, Jan. 24, 2007, in Bangkok, Thailand. The daughter of ousted Prime Minister Thaksin Shinawatra was called to the hearing to respond to questions reguarding the sale of the family's telecommunications empire.

AP

[sriracha john]

Shinawatra children were accompanied by their bodyguards, were greeted by more than 100 supporters who offered them flowers and words of encouragement.

Phew....Even though they had been previously asked not to come, it was nice that the Thai carpideiras were able to complete their work. It'd be a shame to waste the money.

[Jai Dee]

Pinthongta gives testimony to AEC today

Pinthongta Shinawatra (พิณทองทา ชินวัตร), ousted prime minister’s daughter, arrived at the Office of the Auditor-General to give testimony to the Assets Examination Committee (AEC). She is accompanied by her siblings, Panthongtae and Phaethongtarn Shinawatra (แพทองธาร ชินวัตร).

About 50 people have flocked to OAG to give red roses to Ms Pinthongta as a sign of moral support. Some of them held banners protesting against AEC, the Council for National Security (CNS), and the government. More than 100 policemen and soldiers have been deployed to monitor the situation.

AEC prohibits other third party to appear in the room where Ms Pinthongta presents her testimony. Communication devices are also banned in the room.

Source: Thai National News Bureau Public Relations Department - 24 January 2007

[sriracha john]

Thaksin's daughter testifies in Shin Corp. tax probe

BANGKOK, Thailand: Ousted Thai Prime Minister Thaksin Shinawatra's daughter testified Wednesday before a corruption panel probing claims that she owes millions of dollars (euros) in taxes from the family's sale of communications empire Shin Corp. last year.

Pintongta Shinawatra, 24, is the latest of Thaksin's children to give testimony to the government's Assets Examination Committee in the closely watched investigation.

Her older brother, Phantongtae, told the committee last week that the sale was carried out lawfully.

Thaksin's family sold its shares in Shin Corp. to Singapore's state-linked Temasek Holdings for 73.3 billion baht (US$2.1 billion; €1.55 billion). The shares belonged to Ample Rich, a holding company owned by Phantongtae and Pintongta.

Thaksin was ousted by a military coup in September, amid allegations of widespread corruption and that the tycoon-turned-politician had crafted policies to enrich himself while in office.

Pintongta did not answer reporters questions Wednesday, brushing past a cluster of television cameras as she entered the committee's office.

She wore a bright yellow polo shirt, symbolizing respect for the Thai monarchy — something Thaksin was criticized as lacking.

The committee ruled last month that Pintongta and her brother owed 5.8 billion baht (US$163 million; €123 million) in back taxes from the January 2006 sale of Shin Corp.

Based on their testimony in closed sessions, the assets committee will decide whether to issue indictments and forward the case to the courts.

The sale drew widespread protests because it placed strategic assets, including communications satellites, in foreigners' hands, and because it was structured to avoid taxes.

Protests over the sale fueled calls for Thaksin to resign.

Thaksin was deposed in a bloodless coup on Sept. 19 after critics had demanded his ouster, accusing him of corruption and abuse of power. Coup leaders have set up special committees to decide whether Thaksin, his family and close allies can be prosecuted.

- Associated Press

[sriracha john]

Reminiscent of the other thread:

Thaksin's Son Grilled For Two Hours

comes this one:

Pinthongta Grilled For Seven Hours

*guess she was a bit tougher cut of beef...*

Pinthongta Shinawatra, daughter of ousted premier Thaksin, left the Office of the Auditor-General this evening after testifying to a subcommittee of the Assets Scrutiny Committee on alleged tax evasion in the Shin Corp share sale. Ms Pinthongta spent almost seven hours at the Office of the Auditor-General. She was smiling when she went in and when she came out, but refused to answer any questions from news representatives camped out at the OAG office. She said she was "not stressed" and that she had drunk a lot of water during the testimony.

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=116273

--------------------------------------------------------------------------

It's good thing she had a lot of water... proper basting is important during a long grill.

Edited January 24, 2007 by sriracha john

[sriracha john]

Pinthongta survives her testimony to the AEC

Having come back from London recently, Pinthongta Shinawatra, daughter of the ousted PM Thaksin, yesterday greeted people at the office of the Assets Examination Committee (AEC) with wais and sweet smiles when she arrived to testify regarding the tax-free sale of Shin Corp shares to Temasek Holdings.

Conversely, her supporters rudely attacked the committee and its witnesses.

Her uncle, General Chaisit, did not accompany her, but Pinthongta had her siblings, Panthongtae and Paetongtarn, with her. All three wore yellow clothing symbolising their loyalty to His Majesty the King.

Pinthongta wore a yellow cardigan, black blouse and black skirt with white dots, while her brother wore a yellow polo shirt with jeans. *to go along with a very drugged-out appearance*

Despite having to face the panel, Pinthongta seemed relaxed, unlike elder brother Panthongtae and younger sister Paetongtarn, both of whom seemed unenthusiastic.

*too many barbituates?*

On January 10, Panthongtae testified to the panel in the same case. He was apparently exhausted after his testimony. *yes, having to be awake for 2 hours is extremely arduous*

On their arrival a little before 11am, the three paid their respects to Jaruvan Maintaka, an AEC member who greeted them at their blue Volkswagen van.

Twenty followers accompanied them in a silver-bronze Volkswagen van and a black Toyota Fortuner SUV.

Thaksin's children also had 100 supporters carrying red roses symbolising their encouragement. Supporters also had posters with messages for the committee and the Council for National Security.

On the posters were written, "Wolves and the lambs," "You can't attack the father, so you attack the children," and "Aim [Pinthongta's nickname], hang on. Don't be a political tool". *An additional poster apparently aimed at the investigating committee said, "Please Don't Take Aim At Aim"*

However, the 40 military officers and 50 police officers securing the venue seemed to have learned from when Panthongtae met the AEC. They lined barricades along the path Pinthongta had to pass, preventing more than 200 reporters and photographers as well as her supporters from reaching her and her followers.

When Panthongtae testified to the AEC, more than 100 reporters and photographers flocked to the compound. Some were hurt and pushed to the ground in the scrum that formed around him as they tried to snap pictures and get a quote from him before he entered the building. Flowerpots decorating the place were upturned.

It was not so difficult for Pinthongta to go upstairs. But just as with Panthongtae, the AEC officers let her go into the investigation room alone after inspecting her to make sure she had not taken any communication or electronic devices into the room. *alledgedly 241 security personnel all volunteered for the opportunity to conduct the extensive and close inspection of the cute, young lady*

AEC staff prepared fried rice and a Thai-style dessert for her lunch.

In the meantime, supporters of Thaksin's children verbally and rudely attacked AEC members and others entering or leaving the office. Kaewsan Atibhodi, Nam Yimyaem, Bank of Thailand Governor Tarisa Watanagase and Democrat Party deputy secretary-general Korn Chatikavanij all got the treatment. The aggressive shouts reached a point where people had to use side doors instead.

They shouted, "Go to hel_l, man without a human face" to AEC secretary Kaewsan.

*sheesh... how wimpy....you call that an insult??*

Nam said the AEC was not slandering Pinthongta, but rather just doing its job.

Pinthongta emerged from the investigation room at 5.30pm, still smiling. She told reporters she did not feel stressed.

Noticing a Kasetsart University classmate among the reporters, she asked her friend how she had been.

Before getting into the van 10 steps away from the building, Pinthongta received presents from and paid her respects to her supporters gathering on her left and right with some wais and smiles. *and crisp new thousand baht notes for the ones who hurled abusive language at the committee members*

As soon as she and her group left, the supporters dispersed.

- The Nation

Edited January 24, 2007 by sriracha john

[gdhm]

REMOVED.

I was addressing a message that I did not initially notice was 2 months old.

SORRY

Regards, Dave

Edited January 25, 2007 by gdhm

[John K]

The support sounds a bit orchestrated

Thaksin's children also had 100 supporters carrying red roses symbolizing their encouragement. Supporters also had posters with messages for the committee and the Council for National Security.

Very possibly 'if you pay me I will come and support you.'

It is beginning to sound more and more like only the people this family pays will be their friend and show support. It does not have the feel of genuine support at least to me.

[Tony Clifton]

Sonthi L. has shown that the same faces were present showing support to ex- Election Committee.

[wolfmanjack]

ooohhhh - lets all hate taksin. Lets hope he becomes poor.

You guys all sound a little jealous that Taksin has managed to make it so big in his life. What did he use to get there? His brain. He is a very clever man, obviously, and has made millions of dollars and also done his lttle bit of good along the way (increasing the average wage etc) So he made a few mistakes - dont we all?

Now he has been deprived of his job and his face, isnt that enough. Let the poor guy alone.....

It's not what you know but who you know. That is how he got rich .

[Jai Dee]

AEC to inspect behaviors of protestors from CCTV video footage

The Assets Examination Committee (AEC) will inspect the bad behaviors of protestors through CCTV recorded during Pinthongta Shinawatra's (พิณทองทา ชินวัตร) visit to the AEC. The AEC will also discuss future security measures with the Office of the Auditor-General (OAG).

The protesters reportedly used profane languages against the AEC names. The protestors gathered in front of the OAG office to give moral support to Pinthongta who was scheduled to give testimony on the Shin Corp’s share transfer to AEC yesterday.

Sak Khosangruang (สัก กอแสงเรือง), the AEC spokesman, said that the protesters’ behavior was unacceptable. From now on, AEC will prohibit people from entering the premises of AEC without first checking their identities. The spokesman said he will call for other AEC members to consider the protester’s behaviors during the next AEC’s general meeting.

Meanwhile, AEC Secretary-General Kaewsan Athipothi (แก้วสรร อติโพธิ) commented that such rude behaviors were considered normal in the world of politics, adding that AEC should tolerate such common behaviors.

Source: Thai National News Bureau Public Relations Department - 25 January 2007

[John K]

Bannapot postpones testifying to ASC

(Bangkokpost.com)

Bannapot Damapong, step brother Khunying Potjaman Shinawatra, postpone testifying to the subcommittee of the Assets Scrutiny Committee on the alleged tax evasion charge related to Shin Corp share deal made by the Shinawatra and Damapong families to Temasek.

Mr Bannapot, who was scheduled to testify on Friday at 9.30 a.m., claimed that he was not available as the subcommittee had issued him a summons in a short notice.

According to Mr Bannapot's lawyer, Mr Bannapot would like to postpone the questioning to next month but he did not give the specific date.

Shin Corp executive chairman Boonklee Plangsiri, who was called in to testify at 3 p.m., was expected to arrive on time as he did not give notification to the subcommittee that he was occupied.

[John K]

Why is it that everyone related to Thaksin (or at least it seems that way) can’t come when called. It would seem everyone else can make it.

I see this not only as a delaying tactic but very disrespectful to the investigators. At least where I come from if you are called you go or go to jail.

[brahmburgers]

I look in my crystal ball and see... BEHOLD! ...neither Taksin nor any of his brood actually paying ANYTHING. It's taken 12 long months to make this declaration - and Taksin's lawyers can hang it up with appeals for 1,000 more months. Let's face it, they're teflon coated. Even at the recent hearing for his daughter, all the inquisitors bent over backwards to give her an easy time of it - not one tough question. If they say the secretary did it (or the butler or the dog, whatever) the authorities are going to roll over and get their tummies patted. Don't let this semblence of tough talk fool you, it will be biz as usual - the fat cats always having a wide open exit strategy. The most important thing in Thailand is NEVER CAUSE ANYONE TO LOSE FACE. You can shoot a cop point blank in a bar, or run a bus over a cliff killing 17 teachers, or stack prisoners in trucks like cordwood and cause 84 to suffocate - but don't, by any means, allow anyone loose face!

[John K]

I look in my crystal ball and see... BEHOLD! ...neither Taksin nor any of his brood actually paying ANYTHING. It's taken 12 long months to make this declaration - and Taksin's lawyers can hang it up with appeals for 1,000 more months. Let's face it, they're teflon coated. Even at the recent hearing for his daughter, all the inquisitors bent over backwards to give her an easy time of it - not one tough question. If they say the secretary did it (or the butler or the dog, whatever) the authorities are going to roll over and get their tummies patted. Don't let this semblence of tough talk fool you, it will be biz as usual - the fat cats always having a wide open exit strategy. The most important thing in Thailand is NEVER CAUSE ANYONE TO LOSE FACE. You can shoot a cop point blank in a bar, or run a bus over a cliff killing 17 teachers, or stack prisoners in trucks like cordwood and cause 84 to suffocate - but don't, by any means, allow anyone loose face!

Well by disrespecting a person, I could see that as making them lose face by making them feel insignificant. Thaksin has taught his kin well.

[sriracha john]

In another development, the AEC subcommittee on the Shin Corp deal heard testimony from Shin executive chairman Boonklee Plangsiri.

Boonklee was grilled for five hours and refused to discuss the details of his statement.

Sub-committee chairman Viroj Laohaphan said he had found Boonklee's statement to be very useful for the investigation of tax liabilities stemming from the Shin deal.

Viroj also stated that Thursday's statement from Pinthongta Shinawatra, Thaksin's daughter, had shed light on the case.

One of the key issues is the Shin share transfer from an off-shore paper company, Ample Rich, to Thaksin's two children before they sold their equity stakes in the stock market to Singapore's Temasek Holdings.

Thaksin's lawyer Noppadon Patama said some sub-committee members had asked leading questions in an attempt to frame Pinthongta into admitting that the deal involving Ample Rich had been done in Bangkok, thus incurring tax liability.

Noppadon insisted the Ample Rich transaction had taken place in Singapore. *Is that what Pinthongta said in her testimony?*

He also said the authorities had tried to ignore the fact that Pinthongta had spent less than 180 days in Thailand last year, which was grounds for tax exemption. She is studying for a graduate degree in England.

The Viroj sub-committee is expected to hear the testimony of Bhanapot Damapong, Thaksin's brother-in-law, on February 15 before wrapping up its work.

- The Nation

[sriracha john]

People who insulted AEC could face criminal charges

The Assets Examination Committee (AEC) plans to take legal action against those supporters of deposed Prime Minister Thaksin Shinawatra's children who verbally insulted AEC members on Wednesday at the Office of the Auditor-General (OAG).

AEC spokesman Sak Korsaengreung said he would ask security officials at the office for videotape footage showing the rowdy scene staged by Thaksin supporters in which they verbally insulted AEC members when Pinthongta Shinawatra arrived to testify to the AEC.

He said officials would check whether they were the same ones who were sentenced to jail for contempt of court and offending the court upon hearing the Criminal Court verdict issued against the three former election commissioners last July 25. Some are still under a one-year suspended-jail term.

Sak said the behaviour of the Thaksin supporters was unacceptable, especially when they insulted AEC chairman Nam Yimyaem.

"We will not allow anyone who is not involved with the case to enter the OAG compound next time," he said.

Auditor-General Jaruvan Maintaka said she would not personally take legal action against the Thaksin supporters.

AEC member Udom Fuangfung said the AEC would take the supporters to court if it found they were the same group of people who committed contempt of court last year.

Shin Corp executive Bhanapot Damapong yesterday postponed his appointment to testify to the AEC. He was scheduled to give his testimony today.

The Nation

[farangsay]

So did anybody get charged with anything yet ?

Anybody have to cough up any money yet ?

Any bets on this development leading to anything

but the expiry of the statute of limitations.

:D

[sriracha john]

Well, here's some positive aspect coming out of all this...

Seems like since Thaksin's been peeled away from their organization, they've somehow have gained a teeny-tiny modicum of ethics... as well it provides a nice touch of comedy with their one-liner:

Lawsuits dropped

Under court mediation, two subsidiaries of Shin Corp yesterday dropped civil and criminal lawsuits against former Democrat MP Sirichoke Sopha.

Shin Satellite and sister company CS Communications said it was their new policy under Shin Corp to avoid politics.

The two companies sued Sirichoke for libel and demanded Bt10 billion in damages after he grilled then deputy

*... unfortunately, the rest of the article got deleted or some such glitch*

- The Nation

But, it's probably related to this previous tv thread:

Democrats Want 'Shin Murder' Investigated

as it is the only connection between the plaintiff/defendent that came up on various TV and Net searches.

Edited January 26, 2007 by sriracha john

[Tony Clifton]

Interesting, a murder case in the proximity of Shin where the police investigation has made no progress, yet again.

[Jai Dee]

AEC allows Mr. Banpot Damapong to reschedule his court appointment

The Assets Examination Committee has assented to Mr. Banpot's (ดามาพงษ์) request for a rescheduling of his Shincorp stock testimony.

Assets Examination Committee member and spokesperson Sak Korsangruang (สัก กอแสงเรือง) said that the AEC has agreed to allow Mr. Banpot Damapong (บรรณพจน์ ดามาพงษ์ ) to reschedule his court testimony to February 15 at 10 AM. Mr. Banpot cited a business appointment in Chiang Mai province as the reason for his inability to attend the court meeting before February 15. The AEC have criticized Mr. Banport for delaying the investigation. Conclusions into the investigation cannot be derived until Mr. Banpot arrived in court.

Meanwhile The Chairman Shincorp Stock Investigation, Mr. Wirote Laohapan (วิโรจน์ เลาหะพันธ) indicated that information into Shincorp sales obtained from Mr. Boonkree Plangsiri (บุญคลี ปลั่งศิริ), Mr. Panthongthae Shinawatra, and Ms. Pinthongtha Shinawatra, would greatly benefit the ongoing investigation although the authenticity of the witnesses' accounts would need to be verified.

Source: Thai National News Bureau Public Relations Department - 27 January 2007

[John K]

I swear some of the excuses used for not showing up are staring to resemble excuses people use who have made an appointment to see me for smoking cessation and then at the time of the appointment the nicotine was controlling them.

I did not come because:

I had to do my nails.

I was on the phone.

I got lost. (Lived only 2 blocks away)

I was tired.

You were not there when I went. (Watched him pull in and out)

I was 5 minutes late so I just left.

The list is long and very humourous.

The not enough time to get ready for the AEC excuse is very lame, particularly when all you can say when you do show up is see my mom’s secretary.

Perhaps the police should also be so kind when needing to interrogate bomb suspects. “Yes you can make your appointment to be interrogated for next month, no problem.”

[sriracha john]

Mr. Bannapot Damapong to reschedule his court testimony to February 15 at 10 AM. Mr. Banpot cited a business appointment in Chiang Mai province as the reason for his inability to attend the court meeting before February 15.

Source: TNNBPRD - 27 January 2007

A pattern emerges..........

Thaksin's wife, brother-in-law skip assets probe panel

BANGKOK - Pojaman Shinawatra, wife of deposed prime minister Thaksin, and her brother Bannapot Damapong, failed to meet the Assets Examination Committee(AEC) as the panel had scheduled.

Shinawatra family legal advisor Noppadol Pattama told reporters that Khunying Pojaman and Mr. Bannapot did not show up since they were on business trips abroad.

(TNA) January 4, 2007

====================================================

PM Thaksin's daughter Thailand's richest stockholder for 2nd year

BANGKOK - Pinthongtha Shinawatra, daughter of Prime Minister Thaksin, has retained the title of Thailand's richest stockholder for two consecutive years, with an estimated Bt19 billion (US$475 million) worth of corporate stock in her portfolio.

The country's second richest stockholder is Bannapot Damapong, brother of Mr. Thaksin's wife, Pojaman Shinawatra. Mr. Bannapot owns 13.4 per cent of Shin Corp. stocks, worth Bt16 billion.

Panthongthae Shinawatra, only son of the prime minister, ranks fourth on the list with 9.8 per cent of Shin Corp stock, worth Bt12 billion.

Paethongtharn Shinawatra, remaining daughter of the prime minister, ranks 45th, holding about Bt1 billion baht in stock. Pojaman, Mr. Thaksin's wife, ranks 397th with Bt116 million worth of stock.

(TNA) December 13, 2005

==================================================

Bannapot Delays Testimony Yet Again

Today, Bannapot Damapong, brother of Mr. Thaksin's wife, Pojaman Shinawatra, delayed testifying before the AEC investigating the Shin Deal yet again. Mr. Bonnapot's attorney, Khun Thatsome Pileofbull, stated the Mr. Bannapot was indisposed as he had gone to his personal tailor for some new trousers as his current ones couldn't hold any additional Shin Corp. stock certificates. He also stated that this being his 3rd delay of appointments with the investigating committee was considered a good and lucky sign with an auspicious number.

Bangkok-Herald Examiner

News of The Future Department

February 15, 2007

* Disclaimer: It's impossible to know the actual future. *

Edited January 27, 2007 by sriracha john

[TAWP]

A small time thief gets taken into the back room and beaten until he confesses.

A big time thief politly gets called and doesn't have to appear if the doesn't feel like it. And have the resources to delay any conclusion until he is, well, old enough to warrant a 'get out of jail due to helth'-card.

[John K]

Quick fix for this with a simple phone conversation.

AEC: Hello AEC can I help you.

Banpot Damapong: yes this is Banpot Damapong, I had an appointment tomorrow with you but I can’t make it, I would like to reschedule for the middle of next month.

AEC: No problem, we will just freeze all your assets until you are ready to come in.

Banpot Damapong:.......... I will see you tomorrow.

[sriracha john]

Potjaman hands in her defence

Potjaman Shinawatra, wife of deposed prime minister Thaksin, and her stepbrother Bannapot Damapong yesterday defended themselves in writing against criminal charges of collusion to evade tax in 1997 _ the first defence by the Shinawatra family against accusations made by the Assets Scrutiny Committee (ASC). The statements were submitted to the ASC by Khunying Potjaman's lawyer Teerapat Srichaiya, who said she would present witnesses to testify when the case goes to court. ''We're confident we can fight the charges. Khunying Potjaman isn't worried about it,'' the lawyer said.

Continued here:

http://www.bangkokpost.com/News/20Jan2007_news18.php

Update... breaking news

AEC subcommittee: Pojaman and her brother are guilty of tax evasion

An Assets Examination Committee (AEC) inquiry has ruled the wife of former prime minister Thaksin Shinawatra, Khunying Pojaman, and her brother Bhanapot Damapong conspired to evade taxes.

AEC subcommittee chairman Sak Korsaengruang Sunday said his panel had resolved the two conspired to evade paying tax on a Shinawatra Computer and Telecommunications share transaction in 1997.

The two denied the allegations.

Sak will Monday submit a recommendation to the AEC that it seek the prosecution of Pojaman and Bhanapot.

The Nation

---------------------------------------------

positive movements... although the headline is presumptive at this point... A case of chosing the wrong word by the journalist, but doesn't take away from the significance of this huge step forward

Edited February 11, 2007 by sriracha john

[sriracha john]

Pojaman faces prosecution

An Assets Examination Committee (AEC) subcommittee will today recommend the prosecution of Khunying Pojaman Shinawatra, her brother Bhanapot Damapong and four of her employees after it ruled they had conspired to evade paying taxes.

The subcommittee's inquiry has concluded that the six intentionally violated the revenue and criminal codes, chairman Sak Korsaengruang said.

If convicted, the accused could face up to seven years in jail, he said.

Sak said if the paperwork was ready, he would submit his formal recommendation to the AEC today.

The allegations centre on a 1997 Shinawatra Computer and Telecommunications share transaction in which Bhanapot received 4.5 million shares in the company as a "gift".

The Sak panel recommended Bhanapot pay Bt546 million in restitution for unpaid tax.

The six have denied the allegations. They did not appear before the panel and only submitted written testimonies.

The four others ruled to have conspired to evade tax on the transaction are Wanchai and Kanchanapa Honghern, both personal secretaries to Pojaman, Pranee Wetchapruek and Duangta Wongpakdee, a domestic worker in the Shinawatra household.

The Nation

------------------------------------

I see the reporter has vastly improved his proper word usage... "faces prosecution"

The Shin family lawyer, Noppadope, will be earning overtime soon

[brahmburgers]

There will be no fines that stick and there will be no jail time. It won"t happen - there are too many ways for absentee & powerful people to wiggle out of facing responsibilities. So-called prosecutors (and their handlers) worship money too much and fear power too much to be effective. When Thaksin"s daughter went to testify before the commitee, none of the members asked any probing or tough questions - they were simply too much in awe of the demure young woman who controlled such immense wealth. Of course it is really her father"s wealth, but he is essentially untouchable because he is too ###### rich to be reckoned with. The current administration is awe-struck, tongue-tied and ineffectual in the face of such wealth.

department chief said Tuesday. "I yesterday [Monday] ordered tax officials to proceed legal procedure...." He said he had informed Deputy Prime Minister and Finance Minister M R Pridiyathorn Devakula about the plan.....

[John K]

There will be no fines that stick and there will be no jail time. It won"t happen - there are too many ways for absentee & powerful people to wiggle out of facing responsibilities. So-called prosecutors (and their handlers) worship money too much and fear power too much to be effective. When Thaksin"s daughter went to testify before the commitee, none of the members asked any probing or tough questions - they were simply too much in awe of the demure young woman who controlled such immense wealth. Of course it is really her father"s wealth, but he is essentially untouchable because he is too ###### rich to be reckoned with. The current administration is awe-struck, tongue-tied and ineffectual in the face of such wealth.

I think right after that they announced they could not do their job because of people interfering. The question is so they have a new set of teeth now or not? Seeing is saving face is at the top of the list, imagine how they feel as millions of people walk through the monument of corruption that is slowly sinking back into cobra swamp. I think they are much more motivated this time. If they let Thaksin off then they will continue to lose face daily and I think that goes beyond what is acceptable in that there is guilt by association.