Hidden Stocks in the Corner – Low Income, But Hundreds of Millions Rich!??

This is a widely criticized issue that undeniably damages confidence in Thailand's justice system. The matter concerns the NACC's ruling in the stock-hiding case of Saksayam Chidchob, former Transport Minister, following the Constitutional Court's decision removing him from office for concealing assets. Through a nominee holding shares in Buri Charoen Construction Company—where the share-purchasing funds came from Saksayam himself—he effectively remained the company's true owner while contracting multiple Transport Ministry projects. However, the NACC disagreed. On September 8, 2025, they dismissed the complaint, issuing a clarification on April 23, 2026, six months later. The NACC reasoned that Saksayam did not intentionally conceal assets, believing that after selling shares to the nominee, he had no obligation to report them. After the Constitutional Court's ruling, the nominee continued claiming ownership, resulting in litigation at Nonthaburi Court over true ownership. Eventually, through mediation, the nominee purchased 19 land plots totaling 323 rai from Saksayam for 51 million baht, mysteriously ending the affair. The NACC concluded Saksayam did not hide stocks and the nominee was the true company owner. This demonstrates interesting use of NACC discretion. Yet a nagging question remains: where did the nominee obtain 119 million baht to purchase the shares? His tax filings with the Revenue Department from 2015-2019 show only 108,000-118,000 baht annual income—averaging just 9,000 baht monthly. Furthermore, the money trail reveals concealed transactions typical of hidden asset transfers, suggesting Saksayam remained the true owner. Why couldn't the NACC see this? Is it normal for low-wage earners to become hundred-millionaires effortlessly, especially nowadays? One cannot say!??