webfact Posted April 23, 2019 Share Posted April 23, 2019 Thaksin given 3-year imprisonment for Exim Bank’s loan to Myanmar The Supreme Court’s Criminal Division for Holders of Political Office has sentenced fugitive former prime minister Thaksin Shinawatra to three years in prison without suspension after finding him guilty of malfeasance in office for approving a 4-billion-baht low interest loan from the Thai Exim Bank to Myanmar for the purchase of telecom equipment and services from his family-owned company, Shin Satellite. The court also issued a warrant for the arrest of Thaksin who has been in self-exile since 2008. After his overthrow in a military coup in 2006, a special Assets Scrutiny Committee was set up by the junta-appointed government to investigate Thaksin’s massive wealth and his alleged conflicts of interest which may have enabled him to amass considerable wealth. The Exim Bank’s loan to Myanmar is just one of about a dozen cases investigated by the panel and, subsequently, by the National Anti-Corruption Commission. Full story: https://www.thaipbsworld.com/thaksin-given-3-year-imprisonment-for-exim-banks-loan-to-myanmar/ -- © Copyright Thai PBS 2019-04-24 Link to comment Share on other sites More sharing options...
perthuniversity Posted April 23, 2019 Share Posted April 23, 2019 i'll admit i'm biased, but I really struggle to see how most of the charges are as serious as they are making out, the exim bank is supposed to loan money so neighbouring countries can but thai goods and services conflict of interest? possibly, but it's also very possible that the conflict of interest was acknowledged, disclosed, etc Link to comment Share on other sites More sharing options...
impulse Posted April 23, 2019 Share Posted April 23, 2019 Sneaky bastards. Now they'll have to add one more pardon in the amnesty they'll undoubtedly try to push through if there's ever a free and valid election. Link to comment Share on other sites More sharing options...
Inn Between Posted April 23, 2019 Share Posted April 23, 2019 Does this indicate that the Junta Party is worried about losing power, or am reading something into this that isn't there? All insults of ignorance about my political astuteness of Thailand are proudly accepted. Link to comment Share on other sites More sharing options...
faraday Posted April 23, 2019 Share Posted April 23, 2019 Is the loan being repaid? If it was so serious, why only 3 years? Link to comment Share on other sites More sharing options...
scorecard Posted April 23, 2019 Share Posted April 23, 2019 46 minutes ago, perthuniversity said: i'll admit i'm biased, but I really struggle to see how most of the charges are as serious as they are making out, the exim bank is supposed to loan money so neighbouring countries can but thai goods and services conflict of interest? possibly, but it's also very possible that the conflict of interest was acknowledged, disclosed, etc Conflict of interest, yes totally, read the full details, easy to find all published in detail before. Link to comment Share on other sites More sharing options...
ezzra Posted April 23, 2019 Share Posted April 23, 2019 Probably has a lot to do with the Pheu Thai party insisting it has the last election's majority to form and head the new government, so here comes the added warning and deterrent to anyone who thought that Thaksin will be brought home soon... Link to comment Share on other sites More sharing options...
phutoie2 Posted April 23, 2019 Share Posted April 23, 2019 22 minutes ago, scorecard said: Conflict of interest, yes totally, read the full details, easy to find all published in detail before. yes , not a long read. It was on the fiction shelf at Asia Books. Link to comment Share on other sites More sharing options...
Thailand Posted April 23, 2019 Share Posted April 23, 2019 I expect he is booking his ticket right now. Link to comment Share on other sites More sharing options...
Oziex1 Posted April 23, 2019 Share Posted April 23, 2019 Thaksin, still in their hearts and minds. Link to comment Share on other sites More sharing options...
colinneil Posted April 23, 2019 Share Posted April 23, 2019 The court issued a warrant for Thaksins arrest. Somehow i dont think he will be losing any sleep over it. Thaksin the bogey man, even after over 10 years in exile, they are still S++t scared of him. Link to comment Share on other sites More sharing options...
Chang_paarp Posted April 23, 2019 Share Posted April 23, 2019 Is the statute of limitations running out on the other warrants? Speaking of statute of limitations, how long ago was this offence? And is there a statute of limitations on this type of offence? Link to comment Share on other sites More sharing options...
Sticky Wicket Posted April 23, 2019 Share Posted April 23, 2019 It makes me laugh when people post that he should come back and face the music, do a few years in jail etc etc. If he came back and was put in jail he would be dead inside 24 hours. Link to comment Share on other sites More sharing options...
Denim Posted April 23, 2019 Share Posted April 23, 2019 Keeping him in the limelight whilst telling people to move on and get over Thaksin. This crowd can't even read from the same page. Link to comment Share on other sites More sharing options...
mercman24 Posted April 24, 2019 Share Posted April 24, 2019 in my book overthrowing an elected government was treason, punishable by death, oh sorry wrong country. wonder how many years this lot would get, ha ha the first thing this lot done was make an act of parliament protecting any wrong doings they might be part of. Link to comment Share on other sites More sharing options...
Chris Lawrence Posted April 24, 2019 Share Posted April 24, 2019 This poor bloke can't win a trick. Must have "killed a Chinaman", a common saying in Oz when you are down on your luck. 2006 until 2019? Must have been very careful in gathering evidence. I heard they even spoke to the cleaner in the bank building? I suppose when his team wins the current election and then after the revolution, he will pass a law to fix everything. Hope he passes a law about wearing watches of dead mates? Link to comment Share on other sites More sharing options...
MaxLee Posted April 24, 2019 Share Posted April 24, 2019 5 hours ago, webfact said: The Supreme Court’s Criminal Division for Holders of Political Office has sentenced fugitive former prime minister Thaksin Shinawatra to three years in prison without suspension after finding him guilty of malfeasance in office for approving a 4-billion-baht low interest loan from the Thai Exim Bank to Myanmar for the purchase of telecom equipment and services from his family-owned company, Shin Satellite. He's not even here in Thailand anymore Link to comment Share on other sites More sharing options...
PingRoundTheWorld Posted April 24, 2019 Share Posted April 24, 2019 4 million baht? Seriously? You can't even buy a (decent) condo with that... Link to comment Share on other sites More sharing options...
scorecard Posted April 24, 2019 Share Posted April 24, 2019 4 hours ago, phutoie2 said: yes , not a long read. It was on the fiction shelf at Asia Books. Whatever. Link to comment Share on other sites More sharing options...
scorecard Posted April 24, 2019 Share Posted April 24, 2019 46 minutes ago, PingRoundTheWorld said: 4 million baht? Seriously? You can't even buy a (decent) condo with that... 4 BIllion... Link to comment Share on other sites More sharing options...
mike324 Posted April 24, 2019 Share Posted April 24, 2019 5 hours ago, perthuniversity said: i'll admit i'm biased, but I really struggle to see how most of the charges are as serious as they are making out, the exim bank is supposed to loan money so neighbouring countries can but thai goods and services conflict of interest? possibly, but it's also very possible that the conflict of interest was acknowledged, disclosed, etc The loan required Myanmar to buy services from Shin Satellite a subsidiary of Shin Corp, which is own by his family. There are numerous cases where Thaksin use his position to get ministries to buy stuff from company his family owns, other examples include police force buying computers. Link to comment Share on other sites More sharing options...
Orton Rd Posted April 24, 2019 Share Posted April 24, 2019 They make him look like Snowball from animal farm, the bogy man. Link to comment Share on other sites More sharing options...
Ulic Posted April 24, 2019 Share Posted April 24, 2019 6 hours ago, perthuniversity said: i'll admit i'm biased, but I really struggle to see how most of the charges are as serious as they are making out, the exim bank is supposed to loan money so neighbouring countries can but thai goods and services conflict of interest? possibly, but it's also very possible that the conflict of interest was acknowledged, disclosed, etc Not sure, the loan was to buy telecommunications equipment from his company, so a definite conflict of interest. Was the loan ever paid back? I am not sure. But lending that kind on money to a military dictatorship that was under UN sanctions to purchase equipment from your company is highly unethical. Ordering the loan to be made when the bank did not want to, basically amounts to theft if it was not fully repaid. A three-year sentence when he made millions of dollars seems like a very lite sentence. Link to comment Share on other sites More sharing options...
gamini Posted April 24, 2019 Share Posted April 24, 2019 5 hours ago, phutoie2 said: yes , not a long read. It was on the fiction shelf at Asia Books. The replies seem to be totally ignorant of the facts. The corruption charge is Taksins terms of giving Burma the loan were that they would purchase his own companiy's satellite equipment. Also, he bypassed Parliament in authorising the loan. Link to comment Share on other sites More sharing options...
madmitch Posted April 24, 2019 Share Posted April 24, 2019 32 minutes ago, mike324 said: The loan required Myanmar to buy services from Shin Satellite a subsidiary of Shin Corp, which is own by his family. There are numerous cases where Thaksin use his position to get ministries to buy stuff from company his family owns, other examples include police force buying computers. Yes, he misled the police force into believing other computers were inferior as his had the best solitaire games. Link to comment Share on other sites More sharing options...
josephbloggs Posted April 24, 2019 Share Posted April 24, 2019 5 hours ago, Chang_paarp said: Is the statute of limitations running out on the other warrants? Speaking of statute of limitations, how long ago was this offence? And is there a statute of limitations on this type of offence? This was filed in 2008, two years after the act. Therefore well within the SoL (if there even is one for corruption of this kind - I am not sure). Link to comment Share on other sites More sharing options...
Eric Loh Posted April 24, 2019 Share Posted April 24, 2019 Not sure it was fear of Thaksin that prompt the junta to re-weaponized the prosecutors and courts with the absentia law. Prior the AG dropped the case. What the junta want, they get. Link to comment Share on other sites More sharing options...
metisdead Posted April 24, 2019 Share Posted April 24, 2019 An off topic trolling post and a reply has been removed. Link to comment Share on other sites More sharing options...
josephbloggs Posted April 24, 2019 Share Posted April 24, 2019 7 hours ago, perthuniversity said: i'll admit i'm biased, but I really struggle to see how most of the charges are as serious as they are making out, the exim bank is supposed to loan money so neighbouring countries can but thai goods and services conflict of interest? possibly, but it's also very possible that the conflict of interest was acknowledged, disclosed, etc It certainly was not acknowledged. It was extremely shady to say the least. There is no "possibly" about it. Think about it, the Prime Minister of a nation authorising / ordering a government bank to give a low interest loan to a cruel military dictatorship, under several UN sanctions, for it to buy equipment from his personal company, thereby enriching him greatly. Why is that only "possibly" a conflict of interest? It couldn't be a clearer breach. Link to comment Share on other sites More sharing options...
candide Posted April 24, 2019 Share Posted April 24, 2019 The article in Thai pbs lacks precision, as often. The part of the loan that was later used to buy Shin Corps products was 400 Million, accordind to the ASC. What was the cost of the reduced interest rate for a 400 Million loan over 3 years? 10% (40 million), 20% (80 million)? Link to comment Share on other sites More sharing options...
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