AMLO seize 7 billion baht assets from Siam Indica and Co and 13.2 billion baht assets from zero-dollar tour operators

[snoop1130]

AMLO seize 7 billion baht assets from Siam Indica and Co and 13.2 billion baht assets from zero-dollar tour operators

 

 

The Anti-Money Laundering Office has ordered the seizure of about 7 billion baht worth of real estate and bank accounts of rice exporting firms, Siam Indica and Keetha, formerly Siralai and individuals connected with Apichart Chansakulporn, alias Sia Piang, a top executive of Siam Indica in connection with the fake government-to-government rice deals.

 

AMLO secretary-general Pol Gen Chaiya Siriamphankul told the media at a press conference on Friday that the transactions committee on Thursday ordered the seizure of the assets of Siam Indica and Keetha companies, Sia Piang and his business associates which include 51 bank accounts with 921 million baht in cash deposits and 5,970 million baht worth of land plots in Bangkok, Lamphun, Phuket, Phang-nga, Ayutthaya and Ang Thong.

 

AMLO’s action followed the findings of the National Anti-Corruption Commission which faulted former commerce minister Boonsong Teriyapirom of Yingluck administration and 21 other individuals, including officials and businessmen, for conspiring to cheat the state that they had secured G-to-G rice deals with China and, hence, managed to buy rice from the government at prices far below market prices for export. In actuality however, the G-to-G deals were fake and the rice were instead sold to local exporters and to overseas importers for profits.

 

According to the NACC, the massive and outrageous fraud by the businessmen working in cahoots with unscrupulous commerce officials have rendered 20 billion baht in damage to the state.

 

Pol Gen Chaiya said that seized assets were believed to have been illegally acquired from money laundering practice.

 

AMLO also ordered the seizure of about 13.2 billion baht in assets of Fu-an and OA tourism companies for allegedly operating zero-dollar tour operations to cater to Chinese package tour groups.

 

According to AMLO, OA Transport Company provided free transport for Chinese tourists under the care of Fu-an and Zin Yuan travel agencies on the condition

that their Chinese tourists must be taken to their jewelry shops which usually overcharge the tourists.

 

Tourist police commander Pol Maj-Gen Surachet Hakparn, meanwhile, said he was assured by Chinese tourism association that, as of September 15, there will be no zero-dollar tour business in Thailand.

 

Source: http://englishnews.thaipbs.or.th/amlo-seize-7-billion-baht-assets-siam-indica-co-13-2-billion-baht-assets-zero-dollar-tour-operators/

 

-- © Copyright Thai PBS 2016-09-09

[ukrules]

You know I remember something like this happening just before the last round of bombs went off.

 

[Bluespunk]

"AMLO’s action followed the findings of the National Anti-Corruption Commission which faulted former commerce minister Boonsong Teriyapirom of Yingluck administration and 21 other individuals, including officials and businessmen, for conspiring to cheat the state that they had secured G-to-G rice deals with China and, hence, managed to buy rice from the government at prices far below market prices for export. In actuality however, the G-to-G deals were fake and the rice were instead sold to local exporters and to overseas importers for profits."

 

How on earth did they think they'd get away with this?

 

The arrogance, greed and complacency of it all is astoninshing. 

Edited September 9, 2016 by Bluespunk

[tukkytuktuk]

Proof in the pudding. Evidence plz!

[ChrisY1]

This place is going to implode soon........so much bad has been going on and so many involved, have been getting away with so much......seems the hammer may be starting to fall.......!

 

I'm not sure of the zero dollar tourist companies.....Chinese under Thai nominees.......going to be difficult to have their clients rearrange their travel now maybe.....

 

But the G to G fake rice sales......blatant corruption that scooped billions.......I still find it difficult to believe that YL and her entourage, knew zilch about it

[Bluespunk]

10 minutes ago, tukkytuktuk said:

Proof in the pudding. Evidence plz!

Would that be rice pudding? 

[Wilsonandson]

went on to say that the NACC had rushed the G2G case by refusing to investigate the buyers, who were representatives of the Chinese government. He added that these firms had sent the NACC official letters confirming the fact that they were state enterprises. He claimed that the rice-pledging scheme is being used for an artificial political discourse to discredit the Yingluck government. 

"It's a shame that those against Pheu Thai turned the rice scheme into political discourse to bring down Yingluck's government, even though the scheme helped millions of farmers," he said. 

Boonsong said the G2G system has been widely used in many countries and that Thailand too had engaged in it several times in the past. 

Poom agreed, saying the G2G deal was beneficial to the country because the government did not want the stockpiled rice to degrade or rot and that releasing the whole lot through this deal was the best option. 

He also pointed out that if the G2G deal had been delayed, the price of the rice would have dropped further and there would have been the additional cost of storage and tax. Plus, he said, it forged stronger ties with China.

http://www.nationmultimedia.com/politics/NACC-accuses-former-ministers-of-fabricating-G2G-r-30258644.html

Your word against mine.

[ratcatcher]

http://www.thaivisa.com/forum/topic/600926-rice-deals-with-china-fake-thai-democrats/

The Chinese Connection.

"Oh what a tangled web we weave................etc."

Marmion (Walter Scott.

 

 

[sharecropper]

It's great that they have taken action against brazenly fraudulent rice deals - seriously. What politicians of all stripes have got away with in this country is disgusting. If they made stealing from the State as serious a crime as, well, 'other' crimes, we might see some movement on the corrupt scum who steal peoples' hard-earned taxes.

 

And against Zero Dollar tour companies - which, in Pattaya are untouchable? Fantastic news.

 

Maybe they can leave Yingluck alone now. Only dunderheads brought up in a military straight-jacket can think politicians exercising their right to democratically govern, without any criminal mens rea should be destroyed.

[TallGuyJohninBKK]

A few billion baht here, and a few more billion baht there, and pretty soon...

 

You'll be talking about enough money for the government to buy some shiny new submarines, or Mercedes Benz limos, or whatever's on their shopping list for the week....

 

[sweatalot]

17 minutes ago, TallGuyJohninBKK said:

A few billion baht here, and a few more billion baht there, and pretty soon...

 

You'll be talking about enough money for the government to buy some shiny new submarines, or Mercedes Benz limos, or whatever's on their shopping list for the week....

 

 

So they should leave the perps alone with their prey?

[candide]

This may surprise some TVF members but while I understand they seize assets of India,  I don't get the reason they seize assets from these tour companies.

It's nearly impossible to book a tour in Thailand from any provider, without being forced to visit a gem shop or/and an Indian Taylor shop.

[jabis]

10 minutes ago, candide said:

This may surprise some TVF members but while I understand they seize assets of India,  I don't get the reason they seize assets from these tour companies.

It's nearly impossible to book a tour in Thailand from any provider, without being forced to visit a gem shop or/and an Indian Taylor shop.

Funny that in all my years booking tours - I've never had to go thru such an ordeal - aren't you generalizing just a tad here?

[TallGuyJohninBKK]

2 hours ago, sweatalot said:

 

So they should leave the perps alone with their prey?

 

I wasn't suggesting that. But I was raising the question, just what's going to become of those billions once they're in the government's hands.

 

But beyond that, as was raised in separate thread on the Chinese tour companies, the government appears to have been seizing and auctioning off their physical assets -- before there's even been a criminal court verdict reached against the defendants. And that raises some troubling due process issues.

 

[smedly]

in terms of the level of corruption - this is small money but good to see these dirty greedy scum are being exposed, a very small step for Thailand and a very big step for ................................the Thai people. I used to be untouchable but now I am not so sure.

 

 

more please 555

[AlphMichaels]

2,155 OA Transport buses, many the double-decker type, off the road - LOVE IT!  Fewer tourists coming because they can't get that bargain basement tour package to make the trip, and once here, act like vile creatures just let out of their cages - even better!  

 

This actually made my day.  

   

[lvr181]

"....  he was assured by Chinese tourism association that, as of September 15, there will be no zero-dollar tour business in Thailand."  

 

Self regulation? What a joke! 

[halloween]

12 hours ago, candide said:

This may surprise some TVF members but while I understand they seize assets of India,  I don't get the reason they seize assets from these tour companies.

It's nearly impossible to book a tour in Thailand from any provider, without being forced to visit a gem shop or/and an Indian Taylor shop.

 

Do you think it is a legitimate business practice for business owners to assume the identity of a dead Thai citizen to disguise their contravention of Thai law?

[halloween]

14 hours ago, sharecropper said:

It's great that they have taken action against brazenly fraudulent rice deals - seriously. What politicians of all stripes have got away with in this country is disgusting. If they made stealing from the State as serious a crime as, well, 'other' crimes, we might see some movement on the corrupt scum who steal peoples' hard-earned taxes.

 

And against Zero Dollar tour companies - which, in Pattaya are untouchable? Fantastic news.

 

Maybe they can leave Yingluck alone now. Only dunderheads brought up in a military straight-jacket can think politicians exercising their right to democratically govern, without any criminal mens rea should be destroyed.

Yingluk and PTP, completely innocent, just a couple of rogue ministers, right?

 

" The Public Warehouse Organisation (PWO) announced yesterday that it had decided to sell 300,000 tonnes of rice to Indonesia. But only two traders had an opportunity to join in the bidding, which was done secretly. They were Siam Indica, which won the bid ......"

 

" Cabinet recently approved a Commerce Ministry proposal to appoint Pol Major Sarawut Sakulmeerit as the new director of the PWO. Sarawut was a member of the disbanded People's Power Party and a defendant in the case in which Duang Yoobamrung, the youngest son of current Deputy Prime Minister Chalerm Yoobamrung, was charged with murdering Crime Suppression Division detective Senior Sgt-Major Suwichai Rodwimut in Bangkok in 2001. "

http://www.thairiceexporters.or.th/Int news/News_2011/int_news_151211-1.html

[halloween]

How about a look at Siam Indica's parent company, run by the same people.

" The company monopolised the government's rice stockpile from 2003 to 2005, distributing rice to traders through a variety of methods including bidding, ex-warehouse sales and the secret release of stockpiles to specific exporters.

Political backing allowed President Agri Trading to grow rapidly during the time that Thaksin Shinawatra was prime minister. Apichart, a former executive of President Agri and the real top manager of both President Agri Trading and Siam Indiga, has close relations with Thaksin.

Under commerce minister Wattana Muangsook in 2004, the company won the biggest lot in the rice-stockpile auction, 1.7 million tonnes. Its total winning bids with the Commerce Ministry that year amounted to 2.3 million tonnes. "

 

" On January 12, 2010, the company filed for bankruptcy, as it owed a combined debt of Bt12 billion to nine commercial banks, both Thai and foreign, including Bangkok Bank, Krung Thai Bank, and TMB Bank.
President Agri was also sued by the Public Warehouse Organisation for Bt6 billion in compensation for defaulting on bidding orders in past years. "

 

" After President Agri Trading ran into trouble, Siam Indiga, which had close ties to the bankrupt firm's principals, was set up and has participated in many of the ministry's rice auctions. "

 

" Siam Indiga also won part of the government stockpile under the silent-releasing method with total volume of 300,000 tonnes. The rice was set for export under a government-to-government deal to Indonesia only. The bid was Bt11-12 per kilogram compared with the government cost of Bt21-Bt23 per kilo while the market price was Bt15. With this lot alone, the government lost Bt3.3 billion. However, Siam Indiga enjoyed a profit of Bt900 million. "

http://www.nationmultimedia.com/business/Former-head-of-troubled-Agri-Trading-stands-to-gai-30192330.html

 

 

[elgordo38]

17 hours ago, ChrisY1 said:

This place is going to implode soon........so much bad has been going on and so many involved, have been getting away with so much......seems the hammer may be starting to fall.......!

 

I'm not sure of the zero dollar tourist companies.....Chinese under Thai nominees.......going to be difficult to have their clients rearrange their travel now maybe.....

 

But the G to G fake rice sales......blatant corruption that scooped billions.......I still find it difficult to believe that YL and her entourage, knew zilch about it

They forgot to dye their shirts from red to yellow? Yes your question about government knowledge is right on. Could be the new government asked for fatter envelopes and they balked at the idea. Guess there is a lesson in all of this. Pay the piper or get burned. 

[halloween]

4 minutes ago, elgordo38 said:

They forgot to dye their shirts from red to yellow? Yes your question about government knowledge is right on. Could be the new government asked for fatter envelopes and they balked at the idea. Guess there is a lesson in all of this. Pay the piper or get burned. 

 

Any factual reason for you to believe that this is not simply enforcement of the law?

[elgordo38]

Just now, halloween said:

 

Any factual reason for you to believe that this is not simply enforcement of the law?

Enforcement of the law here? Really! The law is what they wish to make it and enforce. Are you a newbie perchance? You are NOT LEGALLY  supposed to roar up and down the street with altered mufflers yet every night outside my condo after the BIB roll up the carpet and go home it is done with impunity for hours well into the wee hours of the morning. The BIB SELECTIVELY AT TIMES round them up in Bangkok when it is like SHOOTING FISH IN A BARREL. Motor bikes are not supposed to be parked on the sidewalk and there were signs erected (now long gone) about 2 months ago warning that this was a VIOLATION of the law. Now they are all back parked willy nilly all over the sidewalk you can hardly get by. You can talk all the facts you want to but as my old grandmother said believe nothing of what you hear and only half of what you see. 

[sharecropper]

21 minutes ago, halloween said:

How about a look at Siam Indica's parent company, run by the same people.

" The company monopolised the government's rice stockpile from 2003 to 2005, distributing rice to traders through a variety of methods including bidding, ex-warehouse sales and the secret release of stockpiles to specific exporters.

Political backing allowed President Agri Trading to grow rapidly during the time that Thaksin Shinawatra was prime minister. Apichart, a former executive of President Agri and the real top manager of both President Agri Trading and Siam Indiga, has close relations with Thaksin.

Under commerce minister Wattana Muangsook in 2004, the company won the biggest lot in the rice-stockpile auction, 1.7 million tonnes. Its total winning bids with the Commerce Ministry that year amounted to 2.3 million tonnes. "

 

" On January 12, 2010, the company filed for bankruptcy, as it owed a combined debt of Bt12 billion to nine commercial banks, both Thai and foreign, including Bangkok Bank, Krung Thai Bank, and TMB Bank.
President Agri was also sued by the Public Warehouse Organisation for Bt6 billion in compensation for defaulting on bidding orders in past years. "

 

" After President Agri Trading ran into trouble, Siam Indiga, which had close ties to the bankrupt firm's principals, was set up and has participated in many of the ministry's rice auctions. "

 

" Siam Indiga also won part of the government stockpile under the silent-releasing method with total volume of 300,000 tonnes. The rice was set for export under a government-to-government deal to Indonesia only. The bid was Bt11-12 per kilogram compared with the government cost of Bt21-Bt23 per kilo while the market price was Bt15. With this lot alone, the government lost Bt3.3 billion. However, Siam Indiga enjoyed a profit of Bt900 million. "

http://www.nationmultimedia.com/business/Former-head-of-troubled-Agri-Trading-stands-to-gai-30192330.html

 

 

 

This all very interesting, academically speaking, but where is the link to YS? IF there was one, if there was a smoking gun, don't you think she'd be prosecuted for these specific scams? Or are you saying she should be but there has been a gross dereliction of duty by the "Government" and State officials in colluding to NOT charge her?

[DrDave]

4 hours ago, AlphMichaels said:

2,155 OA Transport buses, many the double-decker type, off the road - LOVE IT!  Fewer tourists coming because they can't get that bargain basement tour package to make the trip, and once here, act like vile creatures just let out of their cages - even better!  

 

This actually made my day.  

   

 

Unfortunately, any buses seized will be back on the road shortly. In a similar, very recent case in Phuket, the assets of the Tranlee company (buses, speedboats and tour boats) were seized by the AMLO, and auctioned off within a few weeks of seizure. 

 

I shudder to think that any Somchai  can buy one of those tour buses on the cheap, and become a tour bus owner/operator with no training or proper maintenance for the vehicle.

 

The only bright spot I see is as you say, maybe fewer package tour arrivals in the short term due to the shutdown of these companies, but I'm sure the agents in China will come up with some sort of workaround.

[halloween]

4 hours ago, sharecropper said:

 

This all very interesting, academically speaking, but where is the link to YS? IF there was one, if there was a smoking gun, don't you think she'd be prosecuted for these specific scams? Or are you saying she should be but there has been a gross dereliction of duty by the "Government" and State officials in colluding to NOT charge her?

As far as I am concerned she continued her brother's scam so her brother's cronies can continue as parasites on the Thai people. Providing forensic evidence may be difficult, but if you choose to believe their was benefit to the Shinawatra's through these market manipulations, you are ignoring the venal nature of this corrupt family.

[halloween]

4 hours ago, elgordo38 said:

Enforcement of the law here? Really! The law is what they wish to make it and enforce. Are you a newbie perchance? You are NOT LEGALLY  supposed to roar up and down the street with altered mufflers yet every night outside my condo after the BIB roll up the carpet and go home it is done with impunity for hours well into the wee hours of the morning. The BIB SELECTIVELY AT TIMES round them up in Bangkok when it is like SHOOTING FISH IN A BARREL. Motor bikes are not supposed to be parked on the sidewalk and there were signs erected (now long gone) about 2 months ago warning that this was a VIOLATION of the law. Now they are all back parked willy nilly all over the sidewalk you can hardly get by. You can talk all the facts you want to but as my old grandmother said believe nothing of what you hear and only half of what you see. 

 

Nice diversion. But the question was, do you have any factual proof that bribes were requested ?

Guess the lesson is, only in your fantasies.

[jerojero]

I'm sure the cash is long gone from the company's bank accounts....

[gemguy]

Is that a photo of the man who is accused of orchestrating the scam?...

I think so.

If it is I can tell you from experience, after 28 years of living here, I know he is guilty as charged....you can see it in the eyes...

As guilty as a dog caught licking his balls.

Cheers

[halloween]

So where have all the Shin supporters gone? Presented with clear evidence their democratic heroes were in government to line their pockets, they stay away in droves.

 

I learned at least one thing from this thread, Why Chalerm was appointed to investigate alleged corruption in the scam. With one of his murderous son's co-accused heading the PWO, who could be better qualified to find nothing?