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Asset seizures in rice deals begin

BANGKOK: The Legal Execution Department can now seize assets worth B20 billion from former commerce minister Boonsong Teriyapirom and five others in the allegedly bogus rice sale scheme during the Yingluck Shinawatra government, says permanent secretary for commerce.

corruption, crime, politics,

Bangkok Post

Wednesday 22 February 2017, 09:14AM

A worker picks a sack of rice at a warehouse in Bangkok. Officials will begin seizing the assets of five ex-commerce ministers and officials after the Administrative Court dismissed their injunction requests. Photo: Bangkok Post
A worker picks a sack of rice at a warehouse in Bangkok. Officials will begin seizing the assets of five ex-commerce ministers and officials after the Administrative Court dismissed their injunction requests. Photo: Bangkok Post

Wiboonlasana Ruamraksa said yesterday (Feb 21) that the Foreign Trade Department had submitted last week a document authorising the Legal Execution Department to seize the assets of Mr Boonsong, his deputy Poom Sarapol and four Commerce Ministry officials. The document was sent along asset-tracing information found in the first round. 

The six ex-commerce officials are on trial for alleged corruption in government-to-government rice sales with China. The sixth person is still at large.

Mr Boonsong is required to pay B1.77bn in compensation and then deputy commerce minister Poom Sarapol B2.3bn for the damage caused by the failed G2G rice sales. The four Commerce Ministry officials were asked to pay B4bn each.

A commerce ministry source said the first round of asset tracing mainly involved the ex-officials’ salary bank accounts. Authorities will examine further to find if the group had other hidden assets such as land or more bank accounts. 

Miss Wiboonlasana said the Foreign Trade Department had asked concerned agencies in the provinces to help in the second round of asset tracing. A working panel comprising those experienced in locating and recovering assets would be formed to help.

On Feb 10, the Central Administrative Court dismissed petitions by Mr Boonsong and four others involved in the scandalous rice sale deal for an injunction against an administrative order demanding they pay compensation for the scheme’s losses.

It reasoned their assets had not been seized yet so the damages had not been done.

Read original story here.



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ematt | 23 February 2017 - 11:53:47

As usual, Kurt comments without bothering with the facts. The man has been convicted of a crime for lying about the rice deals. The government may have approved G to G rice deals, but in point of fact there was no G to G rice deal - he sold it to his friends. The court has determined that this was fraud, and that he was  personally  responsible for the fraud and the losses incurred.

 And yes, the court reached it's decision without considering your opinion. Unless I am mistaken, you are not a jurist. And it's probably fair to say that court investigated the matter in greater detail than your good self.

At any rate, Ben is correct: He is now a convicted criminal.

Ben is also correct that it remains to be seen how much, if any, of the money will be confiscated. For better or worse, the military government considers members of the deposed government as essentially an enemy. So they may succeed. Recall that, after the first coup, they took something like 3 billion USD from the former Prime Minister now living in Dubai. At the time, it was considered to be half of his assets. They had no problem because the money was in Thailand.

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BenPendejo | 22 February 2017 - 16:40:07

Well, it was nice of them to give these criminals ample warning about seizures, as well as plenty of time to shuffle their assets around (of course, setting aside a few million for private payments).  It will be curious to see just how much of these assets will be considered "irretrievable" as these national thieves skip away to live happily ever after. 

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Kurt | 22 February 2017 - 14:29:25

Hahaha, first see, than believe.
Of course they are not expected to pay back. 
It is all a show to the thai public. They know.

Were Ministers/officials rice decisions that time discussed in thai parliament, as it suppose to be in a democracy?

Did the thai parliament agree with the steps of ministers/officials that time?
If the answer is: YES, than no wrongdoings to discuss.

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