Thaksin's son shows up for money-laundering indictment
Former prime minister Thaksin Shinawatra's son Panthongtae reported to the Office of the Attorney-General on Wednesday and was indicted for money-laundering in the Krungthai Bank loan scandal.
Mr Panthongtae, 38, was accompanied by his younger sisters Pinthongta and Praethongtan and many key members of the Pheu Thai Party, who showed up to give him moral support.
The Department of Special Investigation earlier recommended the attorney-general prosecute Mr Panthongtae, Kanchanapa Honghern (secretary to Mr Panthongtae's mother Khunying Pojaman na Pombejra), and her husband Wanchai Honghern.
Mr Panthongtae and the two others are accused of laundering money that state-owned Krungthai Bank lent to subsidiaries of property developer Krisdamahanakorn in 2003 and 2004, when his father Thaksin was prime minister, even though the company was a non-performing debtor.
They allegedly received cheques of 10 million baht and 26 million baht tied to the unsecured Krungthai Bank loans.
A spokesman for the attorney-general later confirmed Mr Panthongtae was indicted on charges of conspiracy and collusion in money-laundering, relating to the 10-million-baht cheque.
Ms Kanchanapa and Mr Wanchai were indicted on the same charges, relating to the 26-million-baht cheque.
Money-laundering carries a jail term of 1-10 years and has a 10-year statute of limitations, the spokesman said. They would be arraigned in the Central Criminal Court for Corruption and Misconduct Cases.
Krungthai Bank lent 9.9 billion baht to subsidiaries of Krisdamahanakorn to refinance loans and for project development.
KMC was at the time in Krungthai's non-performing loans group, a category that banks should not lend to under Bangkok of Thailand regulations.
Bank executives were found to have approved the loan because a "big boss" said there would be no problem. The court, however, decided there was not enough evidence to establish who the "big boss" was.
In 2015, the Supreme Court for politicians sentenced 16 people to 12 and 18 years in jail for malfeasance. They included three former top Krungthai Bank executives and Krisdamahanakorn executives.: https://www.bangkokpost.com/print/1555402/
Maybe another thread, so we can follow it along: How many years will Panthongtae be sentenced to related to the money laundering case.
Former prime minister Thaksin Shinawatra's son Panthongtae reported to the Office of the Attorney-General on Wednesday and was indicted for money-laundering in the Krungthai Bank loan scandal.
Mr Panthongtae, 38, was accompanied by his younger sisters Pinthongta and Praethongtan and many key members of the Pheu Thai Party, who showed up to give him moral support.
The Department of Special Investigation earlier recommended the attorney-general prosecute Mr Panthongtae, Kanchanapa Honghern (secretary to Mr Panthongtae's mother Khunying Pojaman na Pombejra), and her husband Wanchai Honghern.
Mr Panthongtae and the two others are accused of laundering money that state-owned Krungthai Bank lent to subsidiaries of property developer Krisdamahanakorn in 2003 and 2004, when his father Thaksin was prime minister, even though the company was a non-performing debtor.
They allegedly received cheques of 10 million baht and 26 million baht tied to the unsecured Krungthai Bank loans.
A spokesman for the attorney-general later confirmed Mr Panthongtae was indicted on charges of conspiracy and collusion in money-laundering, relating to the 10-million-baht cheque.
Ms Kanchanapa and Mr Wanchai were indicted on the same charges, relating to the 26-million-baht cheque.
Money-laundering carries a jail term of 1-10 years and has a 10-year statute of limitations, the spokesman said. They would be arraigned in the Central Criminal Court for Corruption and Misconduct Cases.
Krungthai Bank lent 9.9 billion baht to subsidiaries of Krisdamahanakorn to refinance loans and for project development.
KMC was at the time in Krungthai's non-performing loans group, a category that banks should not lend to under Bangkok of Thailand regulations.
Bank executives were found to have approved the loan because a "big boss" said there would be no problem. The court, however, decided there was not enough evidence to establish who the "big boss" was.
In 2015, the Supreme Court for politicians sentenced 16 people to 12 and 18 years in jail for malfeasance. They included three former top Krungthai Bank executives and Krisdamahanakorn executives.: https://www.bangkokpost.com/print/1555402/
Maybe another thread, so we can follow it along: How many years will Panthongtae be sentenced to related to the money laundering case.
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