Narrator (VO):

He was a respected businessman, a family man. As former head of the Australian Red Cross, he was know for his humanitarian views.

As one of the world's top financial trouble shooters, he was consulted on the IMF's restructuring programme.

But all that ended here, on a dusty trek, deep in the heart of Thailand.

Michael Wansley had twice made the trip up this road from Bangkok.

After 18 months in Thailand, he knew the lay of the land, or so it seemed.

He was heading toward Kaset Thai sugar mill. A company with the same problems that destroyed many firms in Asia's economic meltdown.

Narrator (on):

As they drove towards the mill that morning Michael Wansley was sitting right here. There was a Thai translator in front of him, and two Thai colleagues were sitting behind him.

For the hail of bullets that was about to be unleashed, it's remarkable that nobody else was even injured.

Narrator (VO):

A couple of kilometres from the sugar mill, at [Nong Pho] Temple, two Thais were waiting.

It was to be a classic Thai assassination. The gunman didn't even bother covering his face.

As they approached the mill, his killer struck.

This is Nakhon Sawan, the biggest trading town in Thailand's Central North. Among the Thais themselves, it's not unusual for business disputes here to end in violence. There have been seven murders in the past two months.

Having a Thai killed can cost as little as a few hundred dollars. But getting a high profile foreigner murdered is unusual and expensive. There must have been a lot at stake.

Nakhon Sawan is a Chinese town. And for the past couple of centuries, the Chinese have used their legendary trading skills to build vast business empires. In this area, the Chinese run the business. And the biggest business here, is sugar.

For a full month's season each year, these massive turbines run 24 hours a day. It was a huge money spiller for the Chinese family that runs it.

But the company now finds itself in debt, a staggering 450 million US dollars.

Representing the banks, Michael Wansley was armed with a court order to open the company's books.

It seemed a logical place to start.

There are nine family members running this group. The eldest is known as [Pia So], the steel buffalo, for his aggressive disposition. He's being investigated in connection with the killing. But he's unavailable for comment.

Instead, I spoke with his younger brother, [Prasir Siriviriyakul], the deputy manager.

Siriviriyakul:

The people from the newspaper, all the media, having suspect us, suspect the people in our factories. Becoming very bad.

Narrator (on):

What do you think was the reason for Michael Wansley's murder?

Siriviriyakul:

The business before he come to our ...

Narrator (on):

They shot him on your gate.

Siriviriyakul:

I think the one who made it, he's very clever that everyone have to suspect us, because it happened in front of our sugar mill.

Narrator (VO):

And, indeed, Wansley had been threatened before he was involved in the sugar business. Across Thai industry, there's now growing resentment at the IMF's tough restructuring programme, made especially bitter, because it's carried out by foreigners.

Narrator (on):

Your father built this up, you've been running it for 40 years, Thais are very proud people, right, and how do you feel about having to have a foreigner come in here and tell you what to do?

Siriviriyakul:

I think if we have to feel like that. If possible we don't need this situation happen.

Narrator (VO):

It's an important case. Top police generals from Bangkok have arrived in Nakhon Sawan to personally take charge of the investigation.

But while the government is taking the case very seriously, they have a dilemma.

On the one hand, they're terrified of the murder's impact on foreign confidence. On the other, they're aware of the growing resentment of foreign interference in the country's economy.

Walden Bello:

This is a case that has now pushed into the public view, the big debate that's happening in Thailand, around the restructuring being forced by the International Monetary Fund.

Narrator (VO):

[Walden Bello] is an academic specialising in the aftermath of Asia's economic crash.

Walden Bello:

It plays right into, I think, the increasing nationalist resentments about the way that the IMF programme in this country, the government programme could lead to a sell off of a lot of Thai assets to foreign corporations, and to foreigners. So those are issues that are in the subtext of this murder.

Narrator (VO):

Police general [Pasan Wong Yai] thinks he's hot on the trail.

Police General:

We hope we finish about before 4 o'clock today. And all the other [gunners], and mastermind of these people, will be finished today.

Narrator (on):

Will that information give you the lead to make arrests?

Police General:

Yes.

Narrator (on):

By today?

Police General:

Yes. Everybody finished today.

Cane Union Pres:

[foreign language]

Narrator (VO):

But it was not going to be that easy. In this part of the world, neither business, politics, or crime are straightforward.

Many had reason to object to the outside world meddling in their affairs.

As president of the cane growers union, [Sang Bhatt Kiritusak] works in an industry riddled with corruption, and know for swift local justice.

Cane Union Pres:

[foreign language]

Narrator (VO):

It's tough, dangerous work. And it's run by some of the toughest guys around.

Every year the growers, usually Thai, square off against the mill owners, usually Chinese, in a showdown over pricing. Both the feudal gangs of growers, and the family clans, use [stand over] tactics.

Cane Union Pres:

[foreign language]

Narrator (VO):

Beneath the surface, these layers of interest, and time honoured practise, confuse Western eyes. The IMF is demanding Thais change the way they do things, that, indeed, they become more like the West. But in this, as in many cases, globalisation undermines national identity.

Walden Bello:

It could have been Thais, who should have done this process of monitoring and checking, but, again, because of a strong suspicion on the part of the IMF, that everybody in Thailand is corrupt, only foreigners can do this.

Narrator (VO):

There's also a growing perception in the business community that Western interests, and Western money, were more than happy to play during the Asian boom, despite the crony capitalism, despite the corruption. But now in tough times, the West is hypocritically taking the moral high ground for its own economic benefit.

Walden Bello:

Sure, let's clean up crony capitalism, but let's makes sure that's a strategic measure. The other thing is, let's make sure that certain interests do not use this cleaning up to push their own rapid control of the economy.

Narrator (VO):

It's now more than a week since the murder of Michael Wansley. The police, again, say they are closing in on the killer, and the mastermind.

General [Prasan] confirms that the sugar mill's family are under growing suspicion.

Narrator (on):

What was the irregularity that he discovered.

Police General:

[I believe] cheating.

Narrator (VO):

Indeed he tells me that Parphan Siriviriyakul, the steel buffalo, is chief suspect, and soon to be arrested. They were simply waiting for a warrant.

Police General:

They used to make money. They used to earn money, no matter right or wrong. They might come, and become some [executive] for that.

Narrator (VO):

With an arrest imminent, preparations are made for a victorious press conference. The powerful interior minister is coming to town especially to preside.

But at the last minute, there's a change of plan.

Narrator (on):

Have you arrested [Parphan] in the company?

Police General:

Not yet. We have to get some more evidence.

Narrator (VO):

There is no warrant. The interior minister is not coming. The steel buffalo remains free.

But the police insists they have a new suspect, important enough to lay on a helicopter, and send me to a local police station.

And here the police have turned up, not the gunman, not even the motorcycle rider, but the wife of a man suspected of throwing the motorcycle into a pond after the hit.

And Thailand's police commissioner decides to downplay the police assertion that they're about to get their man.

Police Comm:

[foreign language].

Narrator (on):

How easy is it to solve a case like this in Thailand?

Walden Bello:

I am really sceptical about it being solved in anyway soon. I think first of all, it takes years and years, for many cases like this to be solved.

Narrator (on):

Why is that?

Walden Bello:

Because there's a lot of questions of political connections over here. A lot of interests are in play. It's not just one person, or two people, or just one family, there's a whole of structure of, what you might call a network of interests that come into play in cases like this.

Narrator (VO):

The prime minister is visiting the Nakhon Sawan to open a festival. General [Pasan] is ordered in to brief him on the murder investigation.

Narrator (on):

Are you satisfied with the speed of the police investigation?

Prime Minister:

You can answer.

Narrator (on):

Are you happy with the speed?

[crosstalk].

Police General:

You can ask me. He told you to ask me.

Narrator (on):

Could I ask him ...

Narrator (VO):

It's a difficult moment. In the local press, questions have been raised about connections between the suspects and certain politicians.

Narrator (on):

Are you worried that politics, protection, something's getting involved in this?

Police General:

No, no. No political, no police protection, or nothing. [inaudible].

Narrator (on):

Are you still confident that you're gonna get the main guy.

Police General:

Yes. Confidence. Completely confidence.

Narrator (VO):

It's the very complexity of the Thai world that confuses the West. The IMF failed to see the eminent crisis. In his own way, Michael Wansley tragically failed to read the signs.

Like all things Thai, this case is far from simple.

And in these tense, post meltdown times, it's unlikely the truth about Michael Wansley's murder will be quickly forthcoming.