Thaksin loses over half his wealth!

[TBWG]

Thailand top court seizes part of Thaksin fortune

Thailand's Supreme Court has ruled that former PM Thaksin Shinawatra's family should be stripped of more than half a contested $2.3bn fortune.
The court said $1.4bn (£910m) of the assets were gained illegally through conflict of interest when Mr Thaksin was prime minister.

The funds were frozen after Mr Thaksin's elected government was overthrown in a military coup in 2006.

Mr Thaksin, who is living abroad, has denied any wrongdoing.

The Supreme Court said "to seize all the money would be unfair since some of it was made before Thaksin became prime minister".

The court took several hours to deliver its verdict, with security forces on high alert amid government predictions of violence by Mr Thaksin's red-shirted supporters if the court decision went against him.

The judges said that Mr Thaksin shaped government mobile phone and satellite communications policy to benefit his firms.

He abused his power to benefit telecoms company Shin Corp, which he owned then, earning wealth from shares sales in the company through "inappropriate means", they ruled.

They dismissed defence arguments that the anti-corruption commission that instigated the proceedings against Mr Thaksin was illegitimate.

Mr Thaksin addressed his supporters by video from Dubai after the verdict.

He had previously told them he would continue his political fight against the "military-bureaucratic elite" that deposed him - with or without his family fortune.

He has said the money he and his family earned was acquired legally.

Tensions in Thailand remain high. Tens of thousands of extra police have been placed in and around the capital, and in areas of the north-east of the country where some of Mr Thaksin's supporters are based.

There were only small numbers of Thaksin supporters outside the court. The pro-Thaksin United Front for Democracy against Dictatorship (UDD), which leads the red shirts, has said it has no plans for any demonstration until mid-March.

Local media had predicted huge disruption, counting down to what they called "judgement day".

The judges looked at whether Mr Thaksin illegally deposited his fortune with family members because he was not allowed to hold company shares while prime minister, and whether his administration implemented policies to benefit his family's businesses.

They have also considered whether telecoms liberalisation measures unfairly benefited the country's main mobile phone service provider, then controlled by Mr Thaksin's family.

And they have investigated whether he unfairly promoted a $127m low-interest loan to neighbouring Burma to benefit a satellite communications company also controlled by his family.


TBWG

[Admin]

Thaksin verdict: Guilty of abuse of state power 
The Nation: 26 Feb 2010
I'm victim, it's cruel politic: Thaksin

Fugitive ex-PM Thaksin Shinawatra on Friday branded as unfair the Supreme Court's rulings against him which saw his Bt46 bn seized and Bt30 returned.

"I am the victim of Thai politics. Thai justice system is child play," Thaksin said.

Wearing a black suit and black tie, Thaksin said via his D-Station that he wore black to mourn for his own stubbornness for not heeding his family's warning against entering Thai politics.

"I'm sorry kids, for causing trouble to our family. This is cruel politics", he said.

He insisted he will seek justice everywhere, no matter it's in hell.

He also warned, "If you are businessmen, think it through if you are tempted to enter politics. Let me be the last victim."

"Don't cause any trouble and give government a chance to pick on you".

He also called for the red shirts to stay calm and fight peacefully.

"You (red shirts) must fight peacefully, or our country will remain in the hands of Amatiya or Aristocracy. Fight on. Don't give up until you get democracy."

"Things move super fast when it involves cases against people like me, When democracy matures, there should be no more victims like me"
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Thaksin's Bt46 billion seized

The high court rules Thaksin's wealth was ill-gotten gains. The earnings from the Shin Corp deal to Temasek of Singapore was ill-gotten, hence can be confiscated by the state.

The high court then addresses the ground on asset seizure related to the wealth held by Thaksin's ex-wife.

The judges ruled ill-gotten gains in the name of the spouse can be seized.

The judges outline two grounds to seize assets - unusual increase in wealth and abuse of office to beget the wealth.

The judges moved to address that the dividend payments can be seized.

The judges said the original stakes owned by Thaksin before assuming office can not be seized.

By a majority decision, the seizable assets confined to dividend payment worth Bt6 billion and the capital gains worth Bt39 billion. The total seizure is Bt46 billion.

The Nation

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Pojaman has left Thailand

Thanong Khanthong
http://blog.nationmultimedia.com/thanong

So where is Khunying Pojaman Na Pombejra? I have heard that Pojaman and her youngest daughter have slipped out of the country on Thursday. Their destination is Hong Kong. Panthongtae and Pinthongta Shinawatras' whereabout is not known. But they, too, are prepared to leave the country in the shortest notice.

As I have written earlier in my blog, it was very unlikely that Pojaman would stay on to listen to the verdict on Feb 26 because if the Supreme Court were to find the asset seizure case guilty, she could also stand to face other charges as a consequence.

Pojaman left the country three times before during the critical moments. In the first time, she joined Thakin Shinawatra in London after the military coup of September 2006. When the situation cooled down, she returned home and left Thaksin in London.

In the second time, she and Thaksin left for Beijing in August during the Olympics Games. That happened just before the Criminal Court sentenced Thaksin to two years in jail in the Rachadapisek land deal. Pojaman was given a clean bill of health.

In the third critical time, Pojaman and the Shinawatra clans left Bangkok in April 2009 when the Red Shirts stormed the capital in hopes of forcing a sudden political change. The Red Shirts were quashed. Only after the situation returned to normal did she make a comeback. Again, she avoided the glaring eyes of the media.

Yesterday Pojaman left Thailand again ahead of the Supreme Court's verdict today.

The Thaksin family owns a 308-square-metre home in Hong Kong bought in early 2009 in his youngest daughter's name, phraethongtarn Shinawatra, for almost 6 million US dollars.

Pojaman may be taking a break in this Hong Kong home, awaiting for further political development in Thailand.

[Admin]

Thaksin: I do not accept the verdict
Published: 27/02/2010 at 03:21 PM
Online news: Breakingnews

Fugitive former Prime Minister Thaksin Shinawatra said in his statement that he do not accept the court’s verdict to seize his 46 billion baht in assets, saying it was something like he was robbed.

Thaksin’s statement was read out by lawyer of the Shinawatra family, Noppadon Pattama, on Saturday late afternoon at headquarters of the opposition Puea Thai Party.

However, the ex-premier called on his supporters to refrain from moving to help him but to use peaceful means to bring back true democracy and to resolve problem of injustice in the country.

Mr Noppadon said a team of lawyers is studying ways to bring the Thaksin assets seizure case to the international court of justice.

He also stated that Thaksin will definitely appeal against the court’s ruling, but the details will be disclosed by Thaksin’s lawyers who handle this case.

[Admin]

Shinawatra clan flee Thailand before rally 
Bangkok Post: 10 Mar 2010
Shinawatras flee country before rally

Family said to fear being held hostage

Members of Thaksin Shinawatra's immediate family have left or are leaving the country ahead of this weekend's rally by supporters of the fugitive former prime minister.

Thaksin's former wife Potjaman na Pombejra and their son Panthongtae Shinawatra left for Hong Kong on Monday while their two daughters Ms Pinthongta and Ms Paethongtan fly out today for Berlin.

A source from the Puea Thai Party said yesterday the trips were organised in the expectation that there could be unrest at the United Front for Democracy against Dictatorship protest at the weekend. There were also concerns they might be taken hostage if the situation turned violent.

The UDD is hoping to attract one million red shirts to the demonstration but security authorities say they may be over-estimating.

Army chief Anupong Paojinda is confident the Internal Security Act, which was endorsed by the government yesterday and transfers the role of maintaining law and order from the police to the Internal Security Operations Command (Isoc), will be adequate to deal with the rally without recourse to emergency rule.

Gen Anupong said there was no need at this stage to fall back on the Executive Decree on Public Administration in Emergency Situations, which gives officers more sweeping powers to deal with protesters.

The internal security law will cover all areas of Bangkok, all districts of Nonthaburi and 21 other districts in Ayutthaya, Chachoengsao, Nakhon Pathom, Pathum Thani, Samut Prakan and Samut Sakhon from tomorrow until March 23.

Isoc, chaired by Prime Minister Abhisit Vejjajiva, will meet today to find ways to coordinate efforts to handle the rally.

The prime minister said the government would not use force to quell the demonstration. But he ruled out dissolving parliament, saying this option would not put an end to the problem.

Mr Abhisit urged supporters of Thaksin to rethink their ideas now that Khunying Potjaman and her children would not be in the country during the rally. He said red shirt supporters should now realise that while they are fighting hard for the interests of the Shinawatra family, the Shinawatras were living in the lap of luxury. It was irresponsible to leave their supporters in the lurch.

In addition to the ISA, the cabinet has also decided to place 17 other laws under the authority of Isoc instead of the usual agencies. They include laws on disaster prevention, medical emergencies, road traffic, water transport and radio operations.

Puea Thai MP for Samut Prakan Pracha Prasopdee said the government plan to impose the ISA would not discourage pro-Thaksin supporters upcountry who have vowed to go ahead with their demonstration in the capital.

At least 100,000 people will travel to Bangkok from the Northeast, according to UDD co-leader Nisit Sinthuprai, a former MP for Roi Et.

The People's Alliance for Democracy stressed yesterday that its members would not counter the UDD rally. But the PAD would stay alert and wait for orders from its leaders for future moves, it said in a statement.

Deputy chief of the Metropolitan Police Bureau Piya Uthayo said at least 8,000 city police, including 41 crowd control units, would be on standby to support security operations.

Ayutthaya police chief Jaruwat Waisaya said he had received reports that the UDD planned to use at least 120 boats to carry red shirt supporters from Ayutthaya, Pathum Thani, and Nonthaburi provinces along the Chao Phraya River to Bangkok. They would disembark at the Tha Phra Chan pier, Pol Maj Gen Jaruwat said.

He said boat skippers could face legal action if the boats carried too many passengers.

http://www.bangkokpost.com/news/politics/34162/shinawatras-flee-country-before-rally
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[nookiebear]

'Fear of being taken hostage'...........What a load of balls

Pity the police don't check the overloaded tourist boats in places like Pattaya...........