Potjaman Shinawatra

Khunying Potjaman Shinawatra (born Potjaman Damapong) (born November 22, 1956) is the wife of former Thai Prime Minister Thaksin Shinawatra. Potjaman played a key role in the development of Thaksin's commercial enterprises in the 1980's. After Thaksin was deposed by a military coup, the junta-appointed Assets Examination Committee accused her of irregularities in the purchase of government-owned land. However, the Bank of Thailand, which supervised the sale of the land, claimed that the sale was conducted properly. [The Nation, [http://nationmultimedia.com/2006/11/02/politics/politics_30017804.php Pojaman purchase lawful: BOT] , 2 November 2006] The case is currently in court. She has one son, Panthongtae, a businessman, and two daughters, Pinthongta and Paetongtarn, both students.

ale of Shin Corp

On January 23, 2006, the Shinawatra family sold their entire stake in Shin Corporation to Temasek Holdings. The Shinawatra and Damapong families netted about 73 billion baht (about US$1.88 billion) tax-free from the sale, using a regulation that made individuals who sell shares on the stock exchange exempt from capital gains tax. [cite news|url=http://www.nationmultimedia.com/specials/shincorp/shin22.html |publisher=The Nation |title=Complex transaction a model for avoiding tax, ownership law |date=January 27, 2006]

The Thailand Securities and Exchange Commission investigated the transaction and cleared the entire family from wrongdoing, except for Potjaman's son, Panthongtae. [cite news|title=Thai PM's son violated disclosure laws: SEC |url=http://sg.news.yahoo.com/060223/1/3ywh2.html |publisher=Yahoo News |date=February 24, 2006] The SEC did find that Panthongtae committed minor infractions with regard to information disclosure and public tender offers in transactions between 2000 and 2002. He was fined 6 million THB (about 150,000USD). [cite news|url=http://www.nationmultimedia.com/2006/03/11/business/business_20002476.php |title=Panthongtae escapes with a relatively light penalty |publisher=The Nation |date=March 11, 2006] Allegations of insider trading by Potjaman, other Shinawatra family members, Shin Corporation Corp executives, and major shareholders were also investigated. No irregularities were found. On 21 September 2006, the Revenue Department sent a letter to the Shinawatras advising the Shinawatra family not to pay taxes on the transaction. Also in 2006, Revenue Department Director-General Sirot Sawadpanish testified to the military junta's Assets Examination Committee that the transaction was not taxable. [The Nation, [http://nationmultimedia.com/2006/11/27/politics/politics_30020047.php Shinawatra siblings to take fight to top court] , 27 November 2006] The junta investigated Sirot and 6 other senior Ministry of Finance officials for their role in dispensing legal advice regarding the transaction. [The Nation, [http://nationmultimedia.com/2007/07/04/business/business_30039196.php Top official shifts blame: Collection down to Revenue: Suparut] , 4 July 2007] The AEC demanded that Potjaman testify to the Committee, and threatened to jail her if she did not. [The Nation, [http://www.nationmultimedia.com/2007/06/07/national/national_30036215.php Pojaman gets jail warning] , 7 June 2007] . [The Nation, [http://www.nationmultimedia.com/2007/06/19/headlines/headlines_30037259.php, Wife of exiled PM asks AEC to delay hearing on sales of Shin stocks] , 19 June 2007]

Ratchadapisek land purchase controversy

In January 2007, the Financial Institutions Development Fund complied with an Assets Examination Committee request to file a charge against Thaksin and his wife over their purchase of four 772 million baht plots of land from the FIDF in 2003. The charge was based on alleged violation of Article 100 of the National Counter Corruption Act, which specificies that government officials and their spouses are prohibited from entering into or having interests in contracts made with state agencies under their authorisation. However, Article 4 of the Act indicates that persons committing malfeasance must be direct supervisors of the damaged party - in this case, the FIDF. At the time, Bank of Thailand Governor Pridiyathorn Devakula directly supervised the FIDF, not Thaksin. [The Nation, [http://nationmultimedia.com/2007/01/16/headlines/headlines_30024246.php FIDF to sue ousted premier, Pojaman] , 16 January 2007] Article 29 of the Bank of Thailand Act of 1942 stated that the Prime Minister did not have jurisdiction to oversee the FIDF, because those managing the fund had sole authority for policies, control, oversight and regulations governing the agency. [The Nation, [http://nationmultimedia.com/2007/04/19/national/national_30032168.php Pridiyathorn speaks up for Pojaman] , 19 April 2007] Pridiyathorn's testimony to the court occurred in secret - Thaksin's legal team was not allowed in the room. The FIDF later noted that the land was sold to the Shinawatras at a price greater than its appraised value. [The Nation, [http://nationmultimedia.com/2007/01/24/politics/politics_30024938.php Fund 'was not aware' it sold land plot for loss] , 24 January 2007] The case went to the Supreme Court 10 July 2007. [Asia-Pacific, [http://news.bbc.co.uk/2/hi/asia-pacific/6286660.stm BBC News, Thai court will open ex-PM case] , 10 July 2007]

Judgment

Thaksin Shinawatra's wife Pojaman Shinawatra, 51, who was found guilty on July 31, 2008, and sentenced to 3 years imprisonment, was released on 5 million baht (US$149,000) bail. Bangkok Criminal Court Judge Pramote Pipatpramote also convicted her adopted brother Bhanapot Damapong, and her secretary: "The three defendants have high economic and social status. But, they were working together to avoid taxes, even though the taxes amounted to little compared to their assets." [ [http://ap.google.com/article/ALeqM5h6ljC-lNwiNjsZvTOWKfVTImItGgD928KRS80 ap.google.com, Thaksin's wife found guilty of tax evasion] ] [ [http://www.iht.com/articles/reuters/2008/07/31/asia/OUKWD-UK-THAILAND-THAKSIN.php iht.com/articles, Ex-Thai PM's wife guilty of tax fraud] ]

Request for asylum in Britain

On August 10, 2008, Thaksin and his wife Khunying Potjaman flew to London from Beijing, where he had been attending the 2008 Summer Olympics Opening Ceremony. In doing so he violated the terms of his bail. [ [http://online.wsj.com/article/SB121843755522429293.html?mod=googlenews_wsj online.wsj.com, Thaksin to Live in U.K. Amid Court Case in Thailand] ] Thaksin said that it was his wish to return to Thailand someday, but claimed it was not currently safe enough for him and his family. [ [http://news.bbc.co.uk/2/hi/asia-pacific/7553028.stm news.bbc.co.uk, Ex-Thai PM 'will remain in UK'] ] [ [http://www.reuters.com/article/bankingFinancial/idUSBKK4972420080811?pageNumber=2&virtualBrandChannel=0 www.reuters, RPT-UPDATE 2-Ex-Thai PM Thaksin skips bail, stocks jump] ] Thaksin announced his intention to seek political asylum in Britain. [ [http://news.smashits.com/281898/Former-Thai-premier-seeks-asylum-in-Britain.htm smashits.com, Former Thai premier seeks asylum in Britain] ] His 3 children had reportedly flown ahead to Britain. [ [http://english.people.com.cn/90001/90777/90851/6472239.html english.people, Thaksin seeks asylum in Britain] ] Meanwhile, Thailand's Supreme Court issued an arrest warrant for both Thaksin and his wife for jumping bail. [ [http://in.reuters.com/article/worldNews/idINIndia-34944320080811 in.reuters.com, Thai Supreme Court issues Thaksin arrest warrant] ]

Thai Supreme Commander Gen. Boonsrang Niempradit and opposition leader Abhisit Vejjajiva accused Thaksin of hurting Thailand and damaging its reputation: "His Majesty the King recognizes highly the importance of the judiciary … The public should follow him." [ [http://www.upi.com/Top_News/2008/08/12/Thaksin_accused_of_hurting_Thailand/UPI-57601218519640/ upi.com, Thaksin accused of hurting Thailand] ]

Arrest warrants

On September 17, Chief Justice Thonglor Chom-ngarm and the judges unanimously postponed the reading of the verdict to October 21 at 2 pm, and issued the fresh arrest warrant for Thaksin and his wife, Pojaman. [ [http://www.gmanews.tv/story/120997/Thai-court-issues-fresh-warrant-for-ex-PM-Thaksin gmanews.tv, Thai court issues fresh warrant for ex-PM Thaksin] ] [ [http://www.bernama.com.my/bernama/v3/news_world.php?id=359732 bernama.com, Thai Court Postpones Verdict Against Ousted Premier Thaksin, Wife On Land Case] ]

ee also

* Thaksin Shinawatra

References