Fidel Posted June 11, 2007 Report Share Posted June 11, 2007 BANGKOK (Reuters) - Thailand's army-backed government said on Monday it would seize 21 bank accounts with assets worth 52.9 billion baht ($1.53 billion) held by ousted Prime Minister Thaksin Shinawatra and his wife. The announcement from the Assets Examination Committee (AEC), established after a September coup against Thaksin, followed months of investigations into alleged corruption during his five years in office. No charges have been filed in court, but the AEC said it had come to the conclusion "that Thaksin and his cronies had been corrupt and committed wrongdoings," the panel said in a statement. A former policeman and telecoms tycoon, Thaksin came to power in 2001 at the head of his Thai Rak Thai (Thais Love Thais) party, promising to improve the lives of rural Thais with schemes such as universal public health care and cheap credit for farmers. He was very popular in the countryside, but critics and political opponents said he used his vast personal wealth to blind voters to "policy corruption" under which his companies, such as his family's Shin Corp telecoms empire, benefited unfairly. The $3.8 billion sale of Shin Corp to Singapore state investment company Temasek in early 2006 triggered mass street protests. "They have illegally obtained wealth through abuses of power to benefit Shin Corp," the AEC statement said. Thaksin, who was in New York at the time of the coup, has not been allowed to return to Thailand since. He has spent most of his time in London or travelling round Asia playing golf and giving interviews that have upset Bangkok's military rulers. Copyright © 2007 Reuters Source Link to comment Share on other sites More sharing options...
Rex7777 Posted June 11, 2007 Report Share Posted June 11, 2007 Good! I have no sympathy whatsoever for those that use their positions and influence to unjustly enrich themselves. Of course, we don't know that that's true, but one has to wonder. It happens every day in the USA. Why would Thailand be immune? Maybe they'll sort it all out sooner or later. In the meantime, the money is frozen. Rex Link to comment Share on other sites More sharing options...
dsab Posted June 11, 2007 Report Share Posted June 11, 2007 Not too bad to have 1.5 billion in Bank Accounts, but not very smart from an investment point of view. But that means he still must have the small sum of around 2 billion USD lying around somewhere. But no matter how you see it, the following statement is very thai: "that Thaksin and his cronies had been corrupt and committed wrongdoings," He has not yet been formally charged, but already been judged by them. Doesn't the law usually say "Not guilty until formally proven guilty by the courts"? Link to comment Share on other sites More sharing options...
jitagawn Posted June 11, 2007 Report Share Posted June 11, 2007 This was foregone conclusion when they took over last fall. All the big power crew boyz in BKK said "gonna take the money" Somnom na> Link to comment Share on other sites More sharing options...
Gadfly Posted June 11, 2007 Report Share Posted June 11, 2007 and now we read this: The ruling is unfair and I will fight until the end : Thaksin Embattled Thaksin Shinawatra criticised as "unfair" the order of Assets Examination Committee to freeze his assets. Thaksin's spokesman, Noppadon Pattama, quoted Thaksin as saying that he will fight until the end. "The order is not fair. I will bring the case to all courts; criminal and civil," Thaksin said. Noppadon said Thaksin informed him in a telephone conversation after the AEC ruled on Monday to freeze assets of Thaksin and his wife; Khunying Pojaman. Thaksin has been in exile in foreign countries after the military junta ousted him in a coup de'tat in September last year. Thaksin: I will Fight Until the End! And we read the first major demonstration (10,000 people according to the local press, but possibly three times that amount) over the weekend. Coincidence? It sounds as though the velvet gloves are coming off. Link to comment Share on other sites More sharing options...
Flashermac Posted June 12, 2007 Report Share Posted June 12, 2007 << Doesn't the law usually say "Not guilty until formally proven guilty by the courts"? >> That's Anglo-American law. In many countries you are presumed guilty until proven innocent. Link to comment Share on other sites More sharing options...
Flashermac Posted June 12, 2007 Report Share Posted June 12, 2007 << It sounds as though the velvet gloves are coming off. >> I don't see how Mr T can win this one. He's a damn fool if he thinks he can. (Then again, if he weren't a damn fool, he wouldn't have pushed so far that he did get the boot the way he did.) Link to comment Share on other sites More sharing options...
jitagawn Posted June 12, 2007 Report Share Posted June 12, 2007 No can do but he is nuts so should be quite a show. :smirk: Link to comment Share on other sites More sharing options...
Mentors Posted June 12, 2007 Report Share Posted June 12, 2007 and i thought that his money is already in Liechtenstein!? Link to comment Share on other sites More sharing options...
The_Munchmaster Posted June 12, 2007 Report Share Posted June 12, 2007 Will he still want to buy Man City? Link to comment Share on other sites More sharing options...
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