"The Revenue Department is seeking a transfer of 12 billion baht from the frozen accounts of former prime minister Thaksin Shinawatra in an alleged move to have the money returned to his two adult children later. Siam Commercial Bank (SCB) confirmed it had received a letter from the department demanding it transfer the money to the department yesterday.
The letter was sent to the bank as the Office of the Attorney General is due to ask the Supreme Court's Criminal Division for Holders of Political Positions on Monday to order the seizure of the 76 billion baht assets of Mr Thaksin's family. The assets were frozen following the Sept 19, 2006 coup that toppled his government.
Ongorn Abhakorn na Ayuthaya, SCB's executive vice-president for corporate communication, said the bank was instructed by the department to transfer money kept in two Shinawatra family accounts at the bank.
Of the 76 billion baht of Shinawatra assets ordered frozen by the Assets Scrutiny Committee (ASC), about 39.63 billion baht was deposited with the SCB.
The bank's executive board met to discuss legal implications immediately after receiving the letter."
http://www.bangkokpost.com/230808_News/23Aug2008_news03.php
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Attempts to release 12 Billion in frozen Thaksin funds
Started by Sexpat, Aug 23 2008 10:37 AM
2 replies to this topic
#2
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Posted 24 August 2008 - 01:12 PM
I am certainly no admirer of Thaksin but it seems very unfair that money belonging to his adult children should be frozen because none of these siblings has ever been charged with doing anything wrong.
#3
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Posted 25 August 2008 - 10:48 AM
"Siam Commercial Bank (SCB) has asked the Administrative Court how it should deal with the demand by the Revenue Department to hand over the 12 billion baht it holds in the frozen accounts of the Thaksin Shinawatra children. The bank said yesterday it will keep the disputed money until the issue has been clarified.
The bank's statement said it had petitioned the Administrative Court for a ruling. It has also sent a letter to the National Counter Corruption Commission (NCCC) and the Office of the Attorney-General requesting their views.
The bank said it received a written order from the Revenue Department on Friday requiring that it hand over 12 billion baht frozen in accounts in the names of Mr Thaksin's adult son and daughter, Panthongtae and Pinthongta, for settlement of a tax obligation. It acknowledged the instruction and was ready to comply, but the accounts were under an attachment order issued by the Assets Scrutiny Committee (ASC).
It was impossible to comply with both orders, which were conflicting. ''Should the bank follow one order, the bank will be subject to a criminal charge on the grounds of violation of the other order,'' it said.
The requested sum is part of the 76 billion baht of Shinawatra assets ordered frozen by the now defunct ASC. About 39.63 billion baht was deposited with the SCB. The ASC's cases have been taken over by NCCC.
Mr Panthongtae and Ms Pinthongta are accused of evading tax on estimated earnings of 15 billion baht from the sale by the Shinawatra family's British Virgin Islands-based Ample Rich Investment Co of 329.2 million Shin Corp shares to the siblings at one baht per share on Jan 20, 2006, when the market price was then 47.25 baht per share.
''As this important and sensitive issue arises at the time the Office of the Attorney-General lodges a lawsuit with the Supreme Court to seize assets of related parties in the case, the bank is obliged to consider the order prudently,'' the statement said.
The board of directors would discuss the issue shortly.
There was speculation the Revenue Department had acted on the orders of Finance Minister Surapong Suebwonglee and the money, if transferred, might be returned to the Shinawatra family."
http://www.bangkokpost.com/250808_News/25Aug2008_news01.php
The bank's statement said it had petitioned the Administrative Court for a ruling. It has also sent a letter to the National Counter Corruption Commission (NCCC) and the Office of the Attorney-General requesting their views.
The bank said it received a written order from the Revenue Department on Friday requiring that it hand over 12 billion baht frozen in accounts in the names of Mr Thaksin's adult son and daughter, Panthongtae and Pinthongta, for settlement of a tax obligation. It acknowledged the instruction and was ready to comply, but the accounts were under an attachment order issued by the Assets Scrutiny Committee (ASC).
It was impossible to comply with both orders, which were conflicting. ''Should the bank follow one order, the bank will be subject to a criminal charge on the grounds of violation of the other order,'' it said.
The requested sum is part of the 76 billion baht of Shinawatra assets ordered frozen by the now defunct ASC. About 39.63 billion baht was deposited with the SCB. The ASC's cases have been taken over by NCCC.
Mr Panthongtae and Ms Pinthongta are accused of evading tax on estimated earnings of 15 billion baht from the sale by the Shinawatra family's British Virgin Islands-based Ample Rich Investment Co of 329.2 million Shin Corp shares to the siblings at one baht per share on Jan 20, 2006, when the market price was then 47.25 baht per share.
''As this important and sensitive issue arises at the time the Office of the Attorney-General lodges a lawsuit with the Supreme Court to seize assets of related parties in the case, the bank is obliged to consider the order prudently,'' the statement said.
The board of directors would discuss the issue shortly.
There was speculation the Revenue Department had acted on the orders of Finance Minister Surapong Suebwonglee and the money, if transferred, might be returned to the Shinawatra family."
http://www.bangkokpost.com/250808_News/25Aug2008_news01.php
