NACC set to seize Juthamas’ Bt65m in overseas assets

[rooster59]

NACC set to seize Juthamas’ Bt65m in overseas assets

By The Nation

 

 

Anti-graft agency preparing to collect funds in foreign bank accounts linked to big corruption case in Bangkok.

 

THE NATIONAL Anti-Corruption Commission (NACC) is poised to seize the estimated Bt65 million in overseas assets of Juthamas Siriwan, the former governor of the Tourism Authority of Thailand (TAT), and her daughter, pending a Criminal Court verdict on the controversial case next Wednesday.

 

Juthamas, who allegedly received Bt65 million in bribes from a US business couple in return for the couple’s rights to hold the lucrative 2007 Bangkok Film Festival, earlier faced an investigation by the NACC for being “unusually rich” after leaving public office.

 

Based on a money trail provided by the US Justice Department and Federal Bureau of Investigation (FBI), the ill-gotten money was found to have been deposited in several foreign bank accounts in five countries and territories, namely the UK, Ireland, Singapore, Jersey and Switzerland, via California.

 

Nittiphun Prachuabmoh, an NACC director in charge of overseas affairs, said the anti-graft agency will forward the case to the Office of the Attorney-General for further action on asset seizure.

 

The case is claimed to be the first of its kind where the NACC is seeking to seize assets overseas from people found guilty of official corruption in Thailand.

 

This case has progressed with the cooperation of agencies in the US which earlier convicted the American couple, Gerald and Patricia Green, to a six-month jail term plus another six months of house detention and a US$250,000 fine, for paying bribes to foreign officials under the US Foreign Corrupt Practice Act (FCPA).

 

An equivalent total of Bt65 million in bank deposits will be sought by the NACC for asset seizure.

 

Nittiphun said there had been coordination with US authorities in freezing Juthamas’ overseas bank accounts under a United Nations anti-corruption convention.

 

The US investigation into this case started in early 2010 when the FBI took legal action against Gerald and Patricia Green for breaking the US law on foreign corrupt practices.

 

Money was paid to the Thai chief of tourism affairs for the rights to hold the then-popular and lucrative international film event in Bangkok.

 

Later, the NACC received help from the US Justice Department and FBI, which provided all the legal documents in this case to Thai authorities for further action against the former tourism chief.

 

The ill-gotten funds were reportedly put under the name of Juthamas’ daughter and later deposited in multiple foreign bank accounts.

 

The amount of funds in this case is less than a recent Rolls Royce-Thai Airways International bribery case, in which more than Bt1.2-billion worth of bribes were allegedly paid to Thai officials.

 

The NACC is still in the early stages of building the case against wrongdoers in the Rolls-Royce-THAI case, including former transport and deputy transport ministers, a former THAI chairman and a former THAI president, as well as other senior airline and government officials.

 

Based on documents from UK and US authorities, there was evidence that Rolls Royce, a UK-based aircraft engine maker, paid multi-billion-baht bribes to Thai officials in return for the contracts to sell engines to the national-flag carrier from the 1990’s to early 2000’s.

 

Source: http://www.nationmultimedia.com/news/national/30310197

 

 

-- © Copyright The Nation 2017-03-25

[Wilsonandson]

The ill-gotten funds were reportedly put under the name of Juthamas’ daughter and later deposited in multiple foreign bank accounts.

The Caymen Islands, bank Swiss or Bitcoins?

Choices...

[Chris Lawrence]

They should go back to the Tobacco Department and go after the $1million in bribes they accepted. Huge case in the states but nothing happened to culprits in Thailand. And there are others.

[whatawonderfulday]

Foreign banks should freeze all overseas assets held by all and every Thai, irrespective of their position, and/ or Thai company's full stop.  The grounds are that all funds are most probably monies due to corruption.

 

Then those individuals and companies can go about proving that those monies were gained legitimately.  If they can not prove it in 3 months they lose it. 

 

Thais may then learn that outside their country absolute corruption will not be tolerated.

[catinthehat]

 

Given the US case and now this warning I feel that her daughter has already moved said funds to a friends name in different countries.

[KIWIBATCH]

The 65m is needed to pay for the submarines

[Cuchulainn]

...............Juthamas Siriwan was appointed head of TAT by Thaksin Shinawatra..................

 

There you go. Another squeaky clean hero of the Reds.

[ratcatcher]

1 hour ago, KIWIBATCH said:

The 65m is needed to pay for the submarines

Or at least for a supply of torpedoes. B65mil isn't a lot in marine defence costs.

[elgordo38]

26 minutes ago, ratcatcher said:

Or at least for a supply of torpedoes. B65mil isn't a lot in marine defence costs.

Yes buying them is the cheapest part unless you park em and use them for a tourist attraction. Then they could become money generators. A good example is the aircraft carrier. You would think after purchasing this white elephant they would learn a lesson unless there were alternate motives wink wink. 

[Rhys]

Well I hope they see the money... gone.

[little mary sunshine]

Hope they both wind up begging at the local market!!

HI So trash!!

[ratcatcher]

8 hours ago, little mary sunshine said:

Hope they both wind up begging at the local market!!

HI So trash!!

Don't know about the daughter, but maybe Juthamas can find a local market in California ( or in whichever state she is presently hiding and abiding) in which to beg.

https://www.justice.gov/criminal-fraud/case/united-states-v-juthamas-siriwan-et-al-court-docket-number-09-cr-081

[dcnx]

I'm sure the heads up is appreciated. Now he can move his money again. 

 

You can't out-dumb them. It's impossible. 

[worgeordie]

Another case that trundles on ,slow as a snail,I believe the guy

that paid the bribes,had his day in court a long time ago,and is

now dead.you seem to get a long time to spent your ill gotten

gains,before they decide to spring * into action.        *slow motion.

regards worgeordie

[ib1b4]

15 hours ago, Cuchulainn said:

...............Juthamas Siriwan was appointed head of TAT by Thaksin Shinawatra..................

 

There you go. Another squeaky clean hero of the Reds.

She was appointed chief of TAT  finances (budget) in 1978. So twenty years in that department before Mr T was PM.

[chainarong]

15 hours ago, ratcatcher said:

Or at least for a supply of torpedoes. B65mil isn't a lot in marine defence costs.

A new gate house

 

[chainarong]

Seeing as the US justice department and the FBI are in on this investigation any money in overseas accounts,  Juthamas can kiss it good bye.