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  1. #1
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    Where will Thaksin's 76 billion Baht go?

    Anyone think that the Revenue Department, being government controlled, wants to get hold of 12 billion of it with the veiled intention of returning it to him before the court can seize it?

    Revenue Dept orders bank to transfer frozen Bt12 billion from Shinawatra familyBANGKOK, Aug 25 (TNA) --

    Thailand's Revenue Department on Monday ordered Siam Commercial Bank (SCB) to transfer Bt12 billion from the frozen accounts of a son and a daughter of ousted former prime minister Thaksin Shinawatra, now a fugitive, to pay as tax for his two children, a spokesman of the department said.
    Spokesman Sathit Rangkasiri told a press conference that in order to clear the air of confusion faced by the bank, the Revenue Department had informed SCB to transfer the Bt12 billion, deposited at the bank and ordered frozen by the now-defunct Assets Examination Committee (AEC), to transfer the money which would be paid as tax by Mr. Thaksin's two children.
    During the press conference, Mr. Sathit did not mention the Shinawatra family, saying only "taxpayers".
    After receiving the money which will be added with fine and 1.5 per cent interest monthly, it will automatically become state revenue, said Mr. Sathit.

    In accordance with the law, SCB must transfer the money to the Revenue Department within 15 days and if the bank fails without sufficient reason, it will be taken to task, he said.
    Mr. Sathit said his department had informed SCB twice, by letter. The first letter was sent on July 31 and the second one last Friday, ordering the bank to speed up its transfer of the frozen money.
    He said the Revenue Department had cooperated well with the coupmakers-installed AEC until the latter was dissolved and according to the nature of its duties it had to take action because the funds were still frozen in the bank.
    If the "taxpayers" were ruled not guilty through an appeal process later, the money could be returned to them, the spokesman said.

    The Revenue Department earlier ordered the Thaksin children to pay income tax of Bt12 billion from their earnings from Shin Corp share transactions between themselves and Ample Rich Investment Co.
    The two are accused of evading tax payments on their estimated earnings of Bt15 billion from the transactions.
    The Bt12 billion is part of Bt76 billion assets of Mr. Thaksin's family, obtained from the sale of Shin Corp. to Singapore's Temasek Holdings in January 2006 on the same day the Thai Telecommunications Act was enforced. The entire assets were frozen following the September 19, 2006 bloodless coup that toppled the former Thaksin government.
    Mr. Thaksin and his family, now in England, paid no capital gains tax.

    In another development, civil servants from the Attorney General's Office Monday carried 600 files, contained in 94 boxes, related to how Mr. Thaksin accumulated his abundant wealth, to the Supreme Court's Criminal Division for Holders of Political Positions.
    The evidence will be used by the court in seizing the Bt76 billion assets of Mr. Thaksin's family.
    The Court will meet at a later date to appoint nine judges to make a final verdict on the seizure of Bt76 billion for the state. (TNA)

    http://enews.mcot.net/view.php?id=5913
    Last edited by Smeg; 25-08-2008 at 09:38 PM.

  2. #2
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    Court costs.

  3. #3
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    Quote Originally Posted by Smeg
    Where will Thaksin's 76 billion Baht go?
    I'm holding for him. Missus put it under the mattress in the guest bedroom along with a TD amulet for protection.

  4. #4
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    Will the prosecutors beat the Revenue Dept to it?


    Prosecutors seek Thaksin's assets


    Mr Thaksin says the charges are aimed at derailing his political come-back


    Prosecutors in Thailand have asked the Supreme Court to seize $2.2bn (1.2bn) in assets belonging to ousted Prime Minister Thaksin Shinawatra.
    The move is part of an investigation into alleged corruption during the businessman's five years in office.
    Prosecutors said the money - frozen since the military seized power in a coup - should be put in state coffers.
    Mr Thaksin, who denies any wrong-doing, is now in Britain where he owns the Manchester City football club.
    He came to the UK earlier this month to avoid facing the corruption charges - allegations which he says are aimed at preventing his return to front-line politics.

    "Unusual wealth"
    Early on Monday, Thai prosecutors handed over a lengthy submission seeking the confiscation of the frozen assets.
    "The prosecutors are presenting evidence to ask the court to take away his unusual wealth and put it in state coffers," Reuters news agency quoted chief prosecutor Seksan Bangsomboon as saying.
    In the wake of the September 2006 coup, military-backed investigators instigated a series of charges against Mr Thaksin and his family for corruption and abuse of power.
    When Mr Thaksin returned to Thailand in February after 18 months of self-imposed exile, he vowed to fight the charges and clear his name.
    But on 31 July his wife was convicted of tax evasion and sentenced to three years in jail. Analysts say that the couple feared further cases could go against them and decided it was time to leave the country. The Supreme Court has issued arrest warrants for the couple, but it is not yet clear whether Thai authorities will seek their extradition from the UK.

    BBC NEWS | Asia-Pacific | Prosecutors seek Thaksin's assets
    Last edited by Smeg; 25-08-2008 at 10:07 PM.

  5. #5
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    Quote Originally Posted by Smeg
    Mr Thaksin says the charges are aimed at derailing his political come-back
    I thought he had left politics forever ?

  6. #6
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    ^ It does make you wonder why a guy banned from politics for 5 years by the courts had his diplomatic passport returned soon afterwards by the puppet gov't.

    I used to think that politics in the UK was fairly unpleasant, but politics in this country is full of the most self-interested infantile scum imagineable.

  7. #7
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    No you are wrong Smeg ( sorry)

    Taxins gone to the Uk to take lessons in how to ream people big style yet still look clean.

  8. #8
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    Donation to the Labour Party in exchange for a peerage.

  9. #9
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    I was thinking about a version of the 'Nigerian Scam'. If I send it to Smack (I reckon he's stupid and greedy enough) maybe it could end up in my pocket.

  10. #10
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    Straight into his wallet.

  11. #11
    I am in Jail
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    The Deputy PM is a close friend of Toxin, and he is the one telling the Revenue Dept to get on with this. No surprises there.

  12. #12
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    They will go to Suwanabhumi Airport, they just got an expansion plan approved to an estimated cost at 78 billion baht....

  13. #13
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    It will be divided amongst farangs to help boost the ailing tourist dilemma.

  14. #14
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    It must be earning interest at one heck of a rate. Maybe was wants to buy a small planet.

  15. #15
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    I heard a rumor that Taksin and Bruce are going to open a Thai language school chain in Britain with the money. They're "rumored" to have figured with all of the Brits wanting to move to Pattaya it would be a sure fire way of making money. With all of the Thai's living in Britain, they'll easily find TTFL're aplenty who will work for little or no money.

  16. #16
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    That fortune is waiting for Samak's people to amend the constitution to allow him to later reclaim it.

  17. #17
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    I doubt the money is even in the bank. Could someone cook the books to show assets that were actually there? I just can't imagine Thaksin fleeing overseas leaving all his money here. I wonder what the banking bigwigs can do. Could he have removed it and it still show as being there? Okay, I know I'm super-cynical but after being here for some time I think anything is possible. He is the master of deception.

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