Will keep frozen funds until 'conflict' clarified
POST REPORTERS
Siam Commercial Bank (SCB) has asked the Administrative Court how it should deal with the demand by the Revenue Department to hand over the 12 billion baht it holds in the frozen accounts of the Thaksin Shinawatra children.
The bank said yesterday it will keep the disputed money until the issue has been clarified.
The bank's statement said it had petitioned the Administrative Court for a ruling.
It has also sent a letter to the National Counter Corruption Commission (NCCC) and the Office of the Attorney-General requesting their views.
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| Surapong: Denies issueing the order |
The bank said it received a written order from the Revenue Department on Friday requiring that it hand over 12 billion baht frozen in accounts in the names of Mr Thaksin's adult son and daughter, Panthongtae and Pinthongta, for settlement of a tax obligation.
It acknowledged the instruction and was ready to comply, but the accounts were under an attachment order issued by the Assets Scrutiny Committee (ASC).
It was impossible to comply with both orders, which were conflicting.
''Should the bank follow one order, the bank will be subject to a criminal charge on the grounds of violation of the other order,'' it said.
The requested sum is part of the 76 billion baht of Shinawatra assets ordered frozen by the now defunct ASC. About 39.63 billion baht was deposited with the SCB.
The ASC's cases have been taken over by NCCC.
Mr Panthongtae and Ms Pinthongta are accused of evading tax on estimated earnings of 15 billion baht from the sale by the Shinawatra family's British Virgin Islands-based Ample Rich Investment Co of 329.2 million Shin Corp shares to the siblings at one baht per share on Jan 20, 2006, when the market price was then 47.25 baht per share.
''As this important and sensitive issue arises at the time the Office of the Attorney-General lodges a lawsuit with the Supreme Court to seize assets of related parties in the case, the bank is obliged to consider the order prudently,'' the statement said.
The board of directors would discuss the issue shortly.
There was speculation the Revenue Department had acted on the orders of Finance Minister Surapong Suebwonglee and the money, if transferred, might be returned to the Shinawatra family.
Mr Surapong denied the speculation on Friday, saying the ministry had nothing to do with the department's action.
It was not clear which agency had the authority to freeze or unfreeze the assets, he said.
Deputy Attorney-General Waiyawuth Lortrakul said yesterday nobody is allowed to transfer the money without the court's permission.
The prosecution team handling the seizure of the assets has finalised its 124-page indictment and will today ask the Supreme Court's Criminal Division for Holders of Political Positions to order the seizure of the assets, he said. Unless the court orders otherwise, the assets must remain frozen until the court delivers its final verdict.
Mr Waiyawuth said the assets seizure case is a civil matter. If the court accepts the case and issues summonses but the defendants do not appear in court, the trial can continue in their absence.
Democrat party deputy leader Korn Chatikavanij said the Revenue Department had no authority to unfreeze the assets.
''The department estimated the tax to be collected from them two months ago. Why did it have to rush to get the frozen money to pay the tax?'' he said.
He said the department was trying to bring the money within its authority so it can begin tax appeal proceedings.
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