Connect with us

Phuket

Thaksin on graft charges

Published

 on 

Thaksin on graft charges | Thaiger

BANGKOK (The Nation): The attorney-general has filed a criminal lawsuit against Thaksin Shinawatra, accusing him of abusing power while serving as prime minister by converting telecom concessions to benefit Shin Corp at a cost of 66 billion baht in damages to Thailand.

After an initial delay, the attorney-general yesterday took up the policy corruption case involving Shin Corp, which was investigated by the Assets Examination Committee (AEC). Seksarn Bangsomboon, director of Special Criminal Cases, lodged the lawsuit – contained in three large cases, 20 files and almost 20,000 pages of documents – at the Supreme Court’s Criminal Division for Political Office Holders.

The suit, signed by Attorney-General Chaikasem Nitisiri and including his written opinion, alleges that Thaksin violated the law by holding state concessions through his stock-ownership concealment in Shin Corp while he was prime minister.

Thaksin gained unusual wealth in Shin Corp, it said, by having state agencies convert the telecom concessions to excise tax to benefit Shin Corp. TOT and CAT Telecom, who awarded the concessions to the subsidiaries of Shin, stood to lose 41.95 billion and 25.99 billion baht, respectively, from the conversions.

Thaksin and his wife Khunying Pojaman are already on trial at the Supreme Court’s Criminal Division for Political Office Holders in a separate case involving Pojaman’s purchase of a prime plot in the Rachadaphisek area of Bangkok from the Financial Institutions Development Fund. In this case, Thaksin is charged with violating the law by using his high office to endorse the deal with the FIDF, a state institution.

The Shin Corp case is, however, more damaging to Thaksin than the Rachadaphisek land deal because it involves alleged stock concealment, tax evasion and policy corruption to increase the value of his Shin stocks.

The AEC has found that Thaksin and Pojaman still owned Shin Corp from February 2001 up to the sale of the company in January 2006, during all of which time he was serving as prime minister .

The couple allegedly used their children Panthongtae and Pinthongta, Pojaman’s brother Banaphot Damapong, and Thaksin’s sister Yingluck, as well as Ample Rich Investment Ltd and Win Mark Ltd, as nominees to conceal their real ownership of 49 per cent of the outstanding shares of Shin Corp.

Banaphot’s promissory notes, issued to purchase the Shin Corp stocks from Pojaman in March 1999, named “Khunying Pojaman” as the beneficiary, but at that time Pojaman had not received the khunying title, implying that the promissory notes were issued retroactively as a cover-up.

The attorney-general has already reserved Sunai Manomai-udom, the former head of the Department of Special Investigation, Sanya Waranyu and Thirachai Phuvanat-naranubala, the secretary-general of the Securities and Exchange Commission, as state witnesses in the alleged stock-ownership cover-up.

It has also reserved Areepong Phucha-um, Sathit Limphongphun and Sommai Phasi as state witnesses on the conversion of the concessions.

The Supreme Court will form a panel to consider the Shin deal before ruling on whether to accept the suit.

 

Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Follow Thaiger by email:

Thailand6 hours ago

Cabinet seems to have ignored 4am nightlife proposal

Video7 hours ago

THAILAND NEWS TODAY | Korean woman arrested for 5-million-baht theft, 6-year overstay

Crime7 hours ago

Tuhao’s Chinese gang buys 50 homes in Bangkok luxury village with cash

Sponsored9 hours ago

Krungthong Plaza offers endless choices of well-selected plus-size fashion products

Road deaths8 hours ago

Bus flipped in Tak injuring 44 Burmese workers, killing 3

Thailand8 hours ago

3 men were arrested for stealing Thai Internet connection & World Cup betting in Cambodia

Pattaya8 hours ago

Intoxicated Pattaya woman left uninjured after overturning car

Join the conversation on the Thaiger Talk forums today!
Crime8 hours ago

Woman who allegedly scammed victims for over 30 million baht arrested in Pattaya

Bangkok9 hours ago

Bangkok BTS Skytrain fares to increase next year

Thailand9 hours ago

Police put brakes on car rental thief in Bangkok

World9 hours ago

New drug marks major milestone in slowing Alzhemier’s

World Cup9 hours ago

400 to 500 migrant workers in Qatar died due to World Cup, not 6,500

Visa11 hours ago

Thailand advises Indians to obtain visa prior to travelling to avoid long queues

Thailand11 hours ago

Driver furious with Bangkok shopping mall after foreigner accidently causes damage to her car

Politics11 hours ago

Iran promises Thailand it won’t attack Israeli tourists

Crime11 hours ago

Korean woman arrested for 5 million baht theft, 6-year overstay

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending