Wind powers hi-so corruption

11 06 2021

In an oddly presented report at the Bangkok Post it is reported that the Attorney General “has ordered the prosecution of Khunying Korkaew Boonyachinda and associates for forgery and allegedly using forged documents for the transfer of shares of Wind Energy Holding (WEH).” A similar story appeared at Khaosod and promptly disappeared.

Korkaew

Korkaew. From Bangkok Post

This caught our attention as the case is related to a 2014 lese majeste case against Nopporn Suppipat. At the time, he was one of Thailand’s wealthiest men, investing in alternative energy.

He was entangled in the purge of persons associated with then Crown Prince Vajiralongkorn’s estranged wife Srirasmi and her relatives in early December 2014.

His lese majeste arrest warrant alleged he hired two persons connected to former Central Investigation Bureau chief Pongpat Chayapan, the princess’s uncle. Nopporn was accused of using royal influence to hire others – Srirasmi’s associates/relatives – to physically assault and threaten.

He denied any connection to the princess’s relatives and fled the country.

In an on-again/off-again legal case that has traversed Thailand, Hong Kong, Singapore and the UK, in 2020 it is reported that Nopporn had “sued members of a family-run business conglomerate in London’s High Court over the $700 million sale of the business, claiming they conspired to take control of the company.”

Nopporn

Nopporn in 2014

Nopporn’s suit accuses “members, companies and allies of Thailand’s Narongdej family of conspiring to deprive him of any interest in the [W]ind [C]ompany [Wind Energy Holding Co. Ltd.].”

His suit accused “Nop Narongdej, the scion of the KPN Group business conglomerate, of reneging on the plans and secretly conspiring with members of his family to keep the [company’s] shares” despite a deal done that would have allowed Nopporn to hold the shares outside Thailand. It was said that the “stake in WEH was eventually sold to Kasem Narongdej, Nop’s father, at a major discount…”. As a result, the suit involved Nop, Kasem and “15 other defendants, including the family’s companies, WEH employees, Narongdej’s lawyer, Siam Commercial Bank [major shareholder: the king], and individual banking employees.”

In Thailand and Hong Kong, the shenanigans have caused considerable reporting. Some of it:

The new report states that:

on June 4, 2021, the Attorney General issued a definitive court order against Khunying Korkaew Boonyachinda and associates to the Southern Bangkok Criminal Court on charges of the forgery of Mr. Kasem Narongdej’s signatures in several documents and allegedly using these forged documents for the transfer of WEH shares to Khunying Korkaew Boonyachinda.

The prosecution order issued by the Attorney General corresponds to the results of signature verification from both the Central Police Forensic Science Division, Royal Thai Police and the Institute of Forensic Science, Ministry of Justice. Both results clearly indicate that Mr. Kasem’s signatures on all documents used by Khunying Korkaew Boonyachinda for the transfer of WEH shares (Mr. Kasem as transferor and Khunying Korkaew as transferee) are forged.

Korkaew is Nop’s mother-in-law and she’s always been a hi-so figure. The case unveils some of the corruption that marks this class.


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30 06 2021
Discounted “acquisition” | Political Prisoners in Thailand

[…] An odd looking report suddenly appeared at the old Khaosod English website. It relates to a post earlier this month on hi-so corruption. […]

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