Landmark court case to be decided today
The Criminal Court is scheduled to deliver a verdict this morning on the highprofile taxevasion case against Bhanapot Damapong, Khunying Pojaman Shinawatra and Karnjanapha Honghern. It will be a landmark case, no matter what the outcome is.
The court is afraid that there might be some commotion on its premises, because both supporters and opponents of Pojaman will show up to flex their muscles. It will ask some 200 police officers to provide security. A presiding judge will read out the verdict in Room 704 of the Criminal Court building on the Rachadaphisek Road. This is the largest room of the building, holding about 120 people. But since it is a highprofile case that is attracting attention from the people all over the country, the Criminal Court will provide a closedcircuit TV broadcast for people who can't squeeze into the room to listen to the verdict.
Is this going to be the first nut cracked? We'll have to wait and see.
In this case, Bhanapot, Pojaman and Karnjanapha have been accused of colluding to dodge pay
¬ing tax in a stock transaction, which took place between November 7 and 12, 1997. Pojaman was the actual owner of 4.5 million shares worth Bt738 million of Shinawatra and Communication, which was later renamed as Shin Corp.But this amount of shares was held by one of her maids, Duangta Wongphakdee, who acted as a nominee. Pojaman instructed her secretary, Karnjanapha, to transfer the stocks via the stock market through Phatra Thanakit as the broker. The buysell orders showed Bhanapot as the buyer and Duangta as the seller. The payment was made on November 12, 1997.
The prosecutor took up this case from the Assets Examination Committee. It brought the case to the Criminal Court and charged that Bhanapot should have paid tax of Bt273 million on this trans¬action because he was receiving the stocks from Pojaman, who was the real owner
- not Duangta. Bhanapot, Pojaman and Karnjanapha allegedly colluded in the transaction through the stock market in order to avoid paying tax. The brokerage fee was only Bt7.38 million. The investigation found that the stock market trans¬action was merely a smokescreen to cover Pojaman's handout of the stocks to Bhanapot, who must pay the tax on these stocks.Bhanapot, Pojaman and Karnjanapha have been charged with criminal offences. The judge
¬ment day will mark the first of a series of the highprofile court cases against former prime minis¬ter Thaksin Shinawatra and his family.OTHER BUSINESS
-
Saha-Union units to shed loss-maker
Saha-Union's two wholly owned subsidiaries in China will sell their shares in Danyang-Union.... -
Good brands need to be experienced
Doing business nowadays places emphasis on not only product and service development, but also image creation.
{literal}
Top Stories
- Baht likely to weaken to 35 per dollar this year
- New deposit rule likely to shift money to other instruments, says Kasikorn Bank unit
- Thai firms say crisis will pass
- ITD expands investment in resource business
- Commerce Ministry mulls controlling profit margins
- 2008 Inflation reaches 11-year high
- Import Laws required: PTT to be hit with high costs if consumption continues to increase
- Herbalife remains upbeat about Asian opportunities
- Proposed VAT reduction rejected
- 'Shortages if no price hike'
Tel 66-2-338-3000(Call Center), 66-2-338-3333, Fax 66-2-338-3334