Ultimate objectives of PAD

       a. PAD wants to get rid of corruptions. Thaksin, the billionaire civilian dictator, has left Thailand with extensive high level of corruptions and proxy politicians. Having cheated the country while in power, Thaksin hid his corrupt billion of dollars worth of assets overseas. When ousted, Thaksin is subjected to numerous convictions but cowardly fled jail overseas and pull strings on politicians to sabotage his homeland.

       b. PAD protects the Monarchy. Thaksin wants to launder himself through amending the laws with his proxy politicians, while trying to abolish the Monoarchy and make himself a President, that is to cause turmoils and change Thailand from being a "Kingdom" to a "Republic" in stead.

       c. As a permanent cure for Thailand, PAD wants to get real democracy for Thailand. At present it is a fake democracy with bad on-sale politicians.

       d. To achieve all above a, b, c we have to get rid of Thaksin and his proxy politicians and punish them according to the laws.



    Supreme Court's Verdict To Seize Thaksin's Assets (1)

    ( Last edit 2010-04-09 )

    The verdict of the Supreme Court, Criminal Section of the Political Officers. January 26, 2010.

    The Case of State's Confiscation of Assets


    The Attorney-General, the prosecutor
    Police Lieutenant Colonel Thaksin Shinawatra, the defendant,
    Lady (Koon Ying) Potjaman (Shinawatra) Na Pompetch, ex-wife of the defendant, is the first opposer.
    Panthongtae Shinawatra, the defendant's son, is the second opposer.
    Pinthongta Shinawatra, the defendant's daughter, is the third opposer.
    Yinglak Shinawatra, the defendant's younger sister, is the fourth opposer.
    Bannapot Damapong, the brother-in-law of the defendant.
    And other 17 opposers

    The prosecutor filed a plaint that the defendant had held the Prime Minister post for two consecutive terms, the first one started on February 9, 2001, and the second one started on March 9, 2005. He was the head of the government which is a political post, and a state officer as stipulated by the complimentary law annexed to the Constitution, the Anti-Corruption Act B.E.2542 (A.D.1999), as well as an officer who had authorities and duties as stipulated by the State Regulatory Administration Act B.E.2534 (A.D.1991) article 11. Additionally, he had authorities and duties as stipulated by the Consitution of the Kingdom of Thailand B.E.2540 (A.D.1997) article 88, 211 and 212, as the head of the administration, to lay down and supervise the top most policies to govern the country, to follow the baseline policies and the cabinet policies which were declared to the House Assembly, and to supervise and govern all of the state officers in the admintration to follow such government's policies.

    Shin Corporation Limited which will be abbreviated to Shin Corp., was previously registered as a juristic person, initially by the name of Shinawatra Computer and Investment Co.,Ltd. and later by the name of Shinawatra Computer and Communication Co.,Ltd. The company was transformed to a public company with the latest change of the name on May 14, 2001. At present, it has a registered capital of 5 billion baht from ordinary shares of 5 billion shares which have par value of 1 baht per share. It is a monopoly concessionaire according to the Agreement on the Operation of the Domestic Communication Satellite dated September 11, 1991. It is also a major shareholder in the Advance Info Service (Public) Co., Ltd. which will be abbreviated to AIS. AIS gets the state concession according to the Agreement on the Concession to Operate Mobile Phones dated March 27, 1990 (initially) from the Telephone Organization of Thailand or (later transformed to) TOT Corporation Public Company Limited which is abbreviated to TOT.

    Moreover, AIS is the major shareholder of more than 90% Digital Phone Co.,Ltd. which is abbreviated to DPC. It is a concessionaire of Communication Authority of Thailand which is now transformed to CAT Telecom Public Company Limited which is abbreviated to CAT.

    Additionally, Shin Corp who is a concessionaire according to the First Agreement on the Operation of the Domestic Communication Satellite dated March 23, 1992, is a shareholder in Shin Satellite Co.,Ltd (Public) or Thai Com Co.,Ltd (Public) which is abbreviated to Thai Com, who is also a co-contractor.

    Shin Corp's businesses involve share holding in its corporation which has wireless telecommunication business line, satellite telecommunication business line and foreign business, media and advertisement business line, e-businesses line and others.

    The defendant, while in the Prime Minister post, remained holding Shin Corp's shares and other companies which are state concessionaires. Such practice is a conflict of personal interests and public interests. On April 10, 1998, the defendant holds Shin Corp's shares about 32,920,000 shares, while the first opposer (Potjaman Shinawatra) who was the spouse of the defendant held 34,650,000 shares and the fifth opposer (Bannapot Damapong) who is the elder brother of the first opposer held 6,847,395 shares, making a total of 74,417,395.

    In 1999 Shin Corp raised capital by selling 15 baht per new share. The first opposer withdrew the money from her account to buy three cheques from the Siam Commercial Bank (Public) Co.,Ltd. Rachayothin branch dated March 16, 1999, to make a purchase of the new shares 34,650,000 shares at 519,750,000 baht for herself, 32,920,000 shares at 493,800,000 baht for the defendant, 6,809,015 shares at 102,135,225 baht for the fifth opposer. Therefore, on April 12, 1999, the defendant held 65,840,000 Shin Corp shares and the first opposer held 69,300,000 shares which make a total of 135,140,000 shares or 48.75 per cent of the total shares.

    Then, the defendant and the first opposer transferred the Shin Corp shares to several proxies as follows:

    On June 11, 1999, the defendant transferred 32,920,000 shares to Ample Rich Investment Co., Ltd.; On September 1, 2000, the defendant transferred 30,920,000 shares to his son, the second opposer, and 2 million shares to his younger sister, the fourth opposer. The first opposer transferred 42,475,000 shares to the second opposer and 26,825,000 shares to the fifth opposer. As a result, the fifth opposer held 33,634,150 shares which include the new shares bought in 1999, while the defendant and the first opposer remained to be the actual shareholders.

    On August 24, 2001, Shin Corp splitted the shares from the value of 10 baht per share to 1 baht per share which made the number of whole shares to 10 times.

    On September 9, 2003, and on May 17, 2003, the second opposer transferred 440 million shares to the third opposer which is the daughter of the defendant. The second opposer then had remaining 293,950,000 shares. The fifth opposer held 336,340,150 shares. The fourth opposer held 20 million shares. Ample Rich held 329,200,000 shares.

    Then on January 20, 2006, Ample Rich transferred 164,600,000 shares to the second opposer and 164,600,000 shares to the third opposer. The total of Shin Corp shares which the defendant and the first opposer transferred to other people to hold the shares on their behalves, are 1,419,490,150 shares which are over 48 per cent of all Shin Corp shares.

    In addition, the defendant and the first opposer were also holding the Shin Corp shares through the name of Win Mark Co., Ltd. Such deeds by the defendant are conflicts between personal interests and public interests. The defendant did not declare his and his spouse's accounts of Shin Corp shares to the National Counter Corruption Committee (NCCC), which is a violation of articles 110, 208, 209, 291 and 292 of the Constitution of the Kingdom of Thailand; articles 4, 5, and 6 of the Management of the Partnership and Shares of the Ministers Act 2000; articles 32, 33, 100, 119, and 122 of the Organic Laws on Counter Corruption 1999.

    On January 23, 2006, the defendant collected all of his Shin Corp shares to sell to Temasek group of Singapore through Cedar Holdings Co., Ltd. and SN Holdings Co., Ltd. less expenditures for 69,722,880,932.05 baht.

    Between 2003 and 2005, Shin Corp paid 6,898,722,129 baht dividend to the defendant and the opposers, according to the number of shares owned. The sum of income from such shares is 76,621,603,061.05 baht which is illegitimate as a result of an abuse of the duties or authority as well as conflicts between his personal interests and the public interests, while the defendant was in the Prime Minister post. The defendant also abused his duties and misuse his authority to benefit Shin Corp in 5 cases as follows: To be continued

    Financial Minister Korn's Personal Reflections On The Assets Seizure Case

    Thaksin's Same Old Tricks

    Gist of the Ruling

CLICK for the dictator Thaksin