Ex-Revenue boss charged

A FORMER Revenue Department chief will face an indictment for alleged irregularities in connection with a Bt4.3-billion value-added tax (VAT) refund scam while associated assets worth over Bt700 million may be confiscated by the state.
The National Anti-Corruption Commission (NACC) concluded that Satit Rungkasiri was “unusually wealthy” while serving as the Revenue Department director-general during 2011-2013, according to NACC secretary-general Sansern Poljieak.
The agency also found that assets belonging to Satit, his spouse, children, a firm called Siri-karnjana Co and one unnamed person worth more than Bt700 million were ill-gotten in connection with the alleged tax-refund scam.
The NACC requested that the Attorney-General’s Office sue him in the Criminal Court for alleged corruption and misconduct so the unreported assets could be seized. According to the NACC subcommittee headed by Supa Piyachitti, the list of ill-gotten assets included bank accounts, plots of land, gold and vehicles. 
Prominent examples included the purchase of gold bars worth Bt607 million under Satit’s name, of which Bt179 million worth had already been confiscated. Authorities only know about the remainder due to purchase receipts.
In addition, bank deposits worth Bt3.5 million and securities investments worth Bt435,100 under his spouse’s name, as well as bank deposits worth Bt5.7 million under his children’s names.
Other assets in his children’s names included investments in companies, stock-trading accounts and five land plots owned by his children in Nong Khai, Samut Prakarn and Nakorn Ratchasima worth a total of Bt22.5 million. 

Decision made in October
Sansern said the agency resolved in late October to indict the former Revenue Department chief.
In August 2013, the Cabinet issued an order to remove Satit as the Revenue Department director-general due to alleged irregularities in refunding a massive amount of value-added taxes in a case involving exported scrap metal.
Satit was demoted to inspector general of the Finance Ministry.
In January this year, the Finance Ministry dismissed Satit, who was then serving as an inspector general, in connection with the corruption scandal.
Earlier, an investigation by the Department of Special Investigation (DSI) uncovered alleged fraudulent tax refunds worth Bt4.3 billion that involved 38 entrepreneurs – Bt3.2 billion in Bangkok and Bt1.1 billion in Samut Prakan province.
The alleged scam led to one of the biggest corruption discoveries in the history of the Revenue Department, in which other top-level officials were involved. The scam reportedly involved irregularities in claiming tax refunds related to exporting scrap metal. Many fake companies were set up with addresses in unlikely business locations to get tax refunds using fake invoices, it was alleged. 
The NACC alleged that Satit bought gold bars with the ill-gotten money he received from private companies involved in fraudulent tax refunds, according to a source. 
His ownership of the gold bars was not mentioned in his financial report filed with the NACC, the source said.
Following more inquiries, the anti-graft agency recommended that the Office of Attorney-General proceed with the confiscation of Satit and his spouse’s assets as it was alleged they were acquired illegally.

‘Unusual wealth’ 

Purchase order of gold bullion worth Bt607 million
Bank deposit in his spouse’s name worth Bt3.75 million
Stocks in his spouse’s name worth Bt435,100 
Bank deposits in his son's name worth Bt5.7 million
Investment in six companies in his son’s name worth Bt15.73 million
Cash account for stock trading in his son’s name worth Bt7.67 million 
Five plots of land located in Samut Prakan and Nakhon Ratchasima worth Bt22.55 million 
Lexus car worth Bt1 million
Plot of land in Nakhon Ratchasima worth Bt46 million
Bank deposit in another person’s name worth Bt5.03 million