rickfarang Posted June 14, 2007 Report Share Posted June 14, 2007 It looks like Thaksin managed to sneak 8 Billion baht out of the country just before the asset freeze. I don't supposed he had any inside information. That's about a quarter billion U.S. dollars, it should at least cover his immediate living expenses if not the odd football team. ------------------- Source: June 14, 2007 Bangkok Post on line. http://www.bangkokpost.net/News/14Jun2007_news01.php ASC: B8bn taken out before freeze 'Missing amount' from Thaksin, kin's accounts POST REPORTERS Around eight billion baht was withdrawn from the bank accounts of ousted prime minister Thaksin Shinawatra and his family shortly before the Assets Scrutiny Committee ordered the assets frozen. ASC spokesman Sak Korsaengruang said the amount was withdrawn in tranches over the period of a week, from June 4 to 11, one day before the assets freeze was announced. The Bank of Thailand had just informed the ASC of this new "missing amount", he said. The ASC said on June 12, when it ordered the assets freeze, that it could not trace 21 billion baht from the Shin Corp sale to Temasek Holdings of Singapore. At the time, the committee did not appear to be aware that another eight billion baht of Mr Thaksin's money had already been withdrawn. The deposed leader's family and the Damapongs sold their 49% stake to Temasek for 73.3 billion baht in January last year. The freeze was ordered on the grounds that Mr Thaksin and his wife, Khunying Potjaman, had made gains via abuse of power and corruption while he was in office. Auditor-General Jaruvan Maintaka has been appointed to direct a panel to check the existence of the assets ordered frozen and to go after the money that has been withdrawn. Another committee, chaired by Amnuay Thanthara, has been set up to examine the Shinawatras' petitions to reclaim their assets. According to Mr Sak, the Shinawatra family has not lodged any petition to defend its assets yet. It has 60 days, starting last Tuesday, to appeal. He said the ASC will issue a booklet to clarify its decision to freeze the assets. Known as the "yellow book", it should be ready for distribution in two weeks, according to the spokesman. A source close to the ASC said the ASC is also monitoring transactions of bank accounts held by other Shinawatra family members and of the Damapong family, especially those of Yaowapa Wongsawat, Mr Thaksin's sister. It is believed the ex-premier's assets are hidden in several ghost accounts. Tarisa Watanagase, the central bank governor, said the missing amount is still thought to be in the country. She said the last withdrawal record reported to the central bank was for 400 million baht by Khunying Potjaman to buy a house in England last year. She noted the central bank cannot examine Mr Thaksin's assets in Singapore but suggested that authorities access the information through the Anti-Money Laundering Office (Amlo). Khunying Potjaman yesterday sued the ASC for abuse of authority over the Ratchadaphisek road land case. The ASC found her and Mr Thaksin guilty of breaking the anti-graft law which bars cabinet members and their spouses from doing business with a state agency. Khunying Potjaman bought the land in an auction for 772 million baht from the Financial Institutions Development Fund, an agency under the central bank, in 2003 while Mr Thaksin was prime minister. A preliminary hearing was scheduled for Aug 27. Chaturon Chaisaeng, leader of the Thai Rak Thai group, yesterday criticised the ASC's assets freeze, saying it was against the rule of law as it was based on the coup-makers' announcement. "The assets freeze is based on the law laid down to target certain groups of individuals," he said. He accused Prime Minister Surayud Chulanont of discriminating against the Thai Rak Thai party. He was referring to Gen Surayud's speech broadcast on Sunday night in which the prime minister urged supporters of the now-dissolved Thai Rak Thai to "find candidates to support from whichever political party". He said the remark reflected the prime minister's lack of political impartiality as it was made when Thai Rak Thai no longer existed. Meanwhile, the government and the Foreign Ministry yesterday shrugged off criticism of the freeze by a lobbyist firm. Michael S Goldberg, of Baker Botts's International Arbitration and Dispute Resolution Department, issued a statement dated June 12 denouncing the ASC's freeze order. He said the "assets seizure" was a political vendetta against the former leader and showed that the CNS had little regard for "norms of due process and rule of law". Gen Surayud said the government has been working to explain the political situation to the world community that seemed to have a proper understanding. Foreign Ministry spokesman Tharit Charungvat said the government did not have to counter the criticism by the Thaksin-hired law firm as it was a comment made on behalf of its client. ------------------- END OF ARTICLE ------------------- But there is more: Also from the Post. http://www.bangkokpost.net/breaking_news/breakingnews.php?id=119444 Noppadon: Thaksin's missing funds inside Thailand (BangkokPost.com) - The missing 30 billion baht from accounts of ousted premier Thaksin Shinawatra and family has been spent in investment inside Thailand, his legal aide Noppadon Pattama said Thursday. Shinawatra and Damapong families netted 73 billion baht when they sold Shin Corp shares to Singapore-based Temasek Holdings last year. But the Assets Scrutiny Committee found the money in the frozen accounts came to only 44 billion baht. "The funds that the ASC said went missing are inside the country," Mr Noppadon said. He added that he is preparing to compile evidence to file a complaint against the ASC, asking it to withdraw its order of freezing the assets Mr Thaksin gained before coming into office. Mr Noppadon also dismissed reports that US based law firm Baker Botts that Mr Thaksin hired has urged international communities to reconsider their investment in Thailand. On the Manchester City deal, Mr Noppadon said he hoped the deal to be completed within two weeks. "We are negotiating the price and I believe we will succeed," he said. He, however, denied to reveal where the sources of funds will come from. Link to comment Share on other sites More sharing options...
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