PEOPLE’S Party deputy leader and MP Wiroj Lakkhanaadisorn said in a Facebook post today (Oct. 23) that some foundations are being used as a front to launder dirty money raked in through shady activities, Amarin TV said.
These suspect foundations use the cloak of accepting donations for charitable causes to shield the grey cash flowing in that they then launder.
The process is to enter into inflated or false procurement contracts with companies in their network and divert the dirty money there which is then immediately converted into these companies’ revenue, Wiroj said.
The donations these suspect foundations receive are a lot less than the total amount of cash flowing in and the value of all that they procure is also significantly higher. However when anyone asks where the money came from to purchase pricy products or hire services, the answer is, “It came from donations, and most of it from anonymous sources.”
When people ask these suspect foundations to disclose their income and expenditure to verify whether the latter outstrips the former, the answer usually is that since they are doing good deeds why should they be scrutinised.
They also turn the tables around by asking whether those who want to scrutinise them have accumulated a fraction of the merit that they have and use their followers to condemn them,
Wiroj concluded by saying this then is the process by which foundations are used for money laundering while emphasising that it applies to only some foundations.
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People’s deputy leader and MP Wiroj Lakkhanaadisorn. Photo above – Amarin TV, Front Page – Thai Rath
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