How the Thai super-rich hide their wealth: Thaksin’s ex-wife Potjaman in secret offshore files

‘Crony’ of African Strongman Among Thai Names in Secret Offshore Files –, April 3, 2013
[Thanks to Tom for pointing this out.]
Nearly 600 Thais have owned offshore companies in the British Virgin Islands and other havens.
Politicians and billionaire business magnates are among the prominent Thais listed in secret documents as owners of offshore holdings in tropical tax havens.
The list includes the former wife of ousted Prime Minister Thaksin Shinawatra, a sitting senator, a former high-ranking defense ministry official, Forbes-listed tycoons, and a former government minister whose assets in the United States are frozen because of her alleged links to Zimbabwean dictator Robert Mugabe…
In 2010, about $1.4 billion of Shinawatra’s family assets were seized after he was found guilty by the Supreme Court of corruption and abuse of power to benefit his family’s telecommunication company, Shin Corporation, while he was prime minister. Later the same year, the Supreme Court also determined that he used offshore entities to conceal his ownership of shares in Shin Corporation — ownership that ought to have been revealed under Thai law.
The ICIJ documents reveal that while the former Prime Minister’s then-wife Potjaman was fighting her separate court battles against the corruption charges she purchased an offshore company called Premium Select Inc.
It was incorporated in the British Virgin Islands in 2007, and soon after she was listed as the sole owner. The company was set up with the help of a Singapore subsidiary of Swiss banking giant UBS. Two BVI holding companies were appointed as on-paper stand-ins for Potjaman — Execorp Limited as the “nominee” director and Sharecorp Limited as “nominee” shareholder…

Earlier: Selling Shin Corp via Ample Rich – The Politics of Tax

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