Originally posted by The Glove
View Post
I agree. We shouldve sold out to Thaskin Shinuwatra. He is rolling in money and about to buy Man City instead. What a waste eh? Parry needs sacking for that. 
You're a funny guy. Have you not heard?
Local banks freeze Thaksin accounts after panel's order
BANGKOK POST
Local banks yesterday proceeded to freeze the accounts of deposed prime minister Thaksin Shinawatra and his family on the orders of the Assets Scrutiny Committee (ASC). Local bankers said they had received a formal directive from the ASC to freeze the accounts.
But interest would continue to accrue, as the ASC had only ordered the accounts frozen and withdrawals or transfers restricted, instead of an outright seizure of the funds by the state.
The ASC on Monday said it was directing local banks to freeze all the bank accounts of Mr Thaksin and his wife, as well as 21 accounts held by his children and relatives with deposits gained from the 2006 sale of Shin Corp to Singapore's Temasek Holdings.
The frozen accounts include four at Bangkok Bank, two at Kasikornbank and accounts at Bank of Ayudhya and Siam Commercial Bank.
The Bank of Thailand, meanwhile, said it was ready to investigate why some 21 billion baht in funds gained from the Shin Corp sale could not be traced.
ASC chief Nam Yimyaem said the ASC will order the freezing of this money once it is found.
An ASC source said Auditor-General and ASC member Jaruvan Maintaka had been appointed to coordinate with the central bank to trace the missing money.
The Shinawatra family sold their 49% interest in Shin Corp to Temasek for 73 billion baht in January 2006. Only 52 billion baht in funds were traced and frozen under the ASC directive.
Tarisa Watanagase, the central bank governor, said the regulators were prepared to cooperate with the ASC if asked to trace the funds.
''But so far as we can tell, there have been no unusual flows of funds or large outflows abroad,'' she said.
The central bank had earlier approved a 75 million transfer by the Shinawatra family to the United Kingdom to finance a home purchase in London.
Dr Tarisa said it was highly unlikely the 21 billion baht in question, equal to around $570 million, had been transferred abroad, given the huge impact it would have on the money markets.
But currency rates have been mostly stable over the past several months, with no unusual fund flows found, she said.
Suchart Sakkankosone, the director for the central bank's exchange control and credits department, said that regulators were highly unlikely to permit any foreign exchange transactions so long as the asset freeze remained.
This would include any transaction related to reports that Mr Thaksin was seeking to purchase a share of English Premier League football club Manchester City, he said
Comment