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Supreme Court judges have started reading on Thaksin's frozen assets case; reading is expected to take hours to finish.
QSD, LIVE FROM Bangkok.
QSD, LIVE FROM Bangkok.
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Breaking News on Thaksin Court Case !
- Thread starter Queen Seok Duk
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.... is Deok Man with you now ...
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.... is Deok Man with you now ...
No. Milshil is.
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Khwarm Yuthitham Yoo Thee Nai ???
GIMME BACK ALL MY MONEY !!! Thaksin gets whacked for 46 BILLIONS Bahts
Khwarm Yuthitham Yoo Thee Nai ???
Former Thai premier Thaksin Shinawatra abused his power to benefit his business in all five major cases against him, a judge said on Friday, increasing the likelihood his family's frozen assets would be confiscated.
The statement was made by a Supreme Court judge in reading the verdict, which was still continuing after more than seven hours. A final ruling on whether to seize all or some of the $2.3 billion (1.5 billion pound) in assets was due later on Friday.
The court earlier said the twice-elected Thaksin, who was ousted in a 2006 coup, had concealed shares in his family's telecommunications conglomerate, Shin Corp, while in office and geared several government telecom policies to favour the company.
BANGKOK—Thailand's Supreme Court ruled Friday to seize 46 billion baht ($1.4 billion) of ousted Prime Minister Thaksin Shinawatra's assets.
The ruling—tied to gains that Mr. Thaksin's family made from selling a stake in Shin Corp. PCL—could anger Mr. Thaksin's supporters and ignite a fresh wave of political upheaval.
According to the verdict from the Supreme Court's Criminal Division for Holders of Political Positions, 46.37 billion baht of Mr. Thaksin's frozen assets, plus interest, will be seized.
The judges said they decided on the amount because it was equal to the difference in value of Shin Corp. shares from the date before he came to office and the value when the shares were sold to Singapore's Temasek Holdings in early 2006.
The court ruled the fugitive ex-leader was found to be the actual owner of Shin Corp. shares while in power, which violated the law. Mr. Thaksin also was found guilty of abuse of power for using his authority as the government leader to grant privileges to Shin Corp.'s units.
Ahead of the verdict, Thai shares closed 0.6% higher at 721.37, while the dollar edged down to 33.04 to 33.05 baht from 33.06 to 33.065 baht late Thursday as there were no signs of violence.
Mr. Thaksin was the founder of Shin Corp., and his family earned 76 billion baht tax-free when it sold its stake to Temasek, infuriating his opponents. The family wasn't obligated to sell because of Mr. Thaksin's role as prime minister, a post he had held since 2001, but decided to do so.
The tax-free nature of the deal triggered mass protests and eventually led to a bloodless military coup in September of that year.
Mr. Thaksin's supporters are mostly poor farmers in northern and northeastern provinces, and low-income earners in urban areas. Identified by their red shirts, Thaksin supporters have staged a number of antigovernment rallies over the past year, including riots last April during a summit of the Association of South East Asia Nations. ASEAN leaders fled the venue, humiliating the host Thai government.
Thousands of security forces were deployed across Thailand Friday ahead of the verdict in preparation for any possible violence. Security was also tight at the Supreme Court, but Bangkok was largely operating as normal.
Mr. Thaksin fled Thailand in late 2008 after a court convicted him of abuse of power and sentenced him to two years in prison. He continues to generate enormous divisions in Thailand, often taunting Prime Minister Abhisit Vejjajiva from Dubai—where Mr. Thaksin now is based—and addressing supporters by telephone or video-link.
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Got to pay interest on money frozen, Wahahaha...Another new joke from Thailand.
Same Same But Different...:
:p:o:o:o
GIMME BACK ALL MY MONEY !!! Thaksin gets whacked for 46 BILLIONS Bahts
Khwarm Yuthitham Yoo Thee Nai ???
Former Thai premier Thaksin Shinawatra abused his power to benefit his business in all five major cases against him, a judge said on Friday, increasing the likelihood his family's frozen assets would be confiscated.
The statement was made by a Supreme Court judge in reading the verdict, which was still continuing after more than seven hours. A final ruling on whether to seize all or some of the $2.3 billion (1.5 billion pound) in assets was due later on Friday.
The court earlier said the twice-elected Thaksin, who was ousted in a 2006 coup, had concealed shares in his family's telecommunications conglomerate, Shin Corp, while in office and geared several government telecom policies to favour the company.
BANGKOK—Thailand's Supreme Court ruled Friday to seize 46 billion baht ($1.4 billion) of ousted Prime Minister Thaksin Shinawatra's assets.
The ruling—tied to gains that Mr. Thaksin's family made from selling a stake in Shin Corp. PCL—could anger Mr. Thaksin's supporters and ignite a fresh wave of political upheaval.
According to the verdict from the Supreme Court's Criminal Division for Holders of Political Positions, 46.37 billion baht of Mr. Thaksin's frozen assets, plus interest, will be seized.
The judges said they decided on the amount because it was equal to the difference in value of Shin Corp. shares from the date before he came to office and the value when the shares were sold to Singapore's Temasek Holdings in early 2006.
The court ruled the fugitive ex-leader was found to be the actual owner of Shin Corp. shares while in power, which violated the law. Mr. Thaksin also was found guilty of abuse of power for using his authority as the government leader to grant privileges to Shin Corp.'s units.
Ahead of the verdict, Thai shares closed 0.6% higher at 721.37, while the dollar edged down to 33.04 to 33.05 baht from 33.06 to 33.065 baht late Thursday as there were no signs of violence.
Mr. Thaksin was the founder of Shin Corp., and his family earned 76 billion baht tax-free when it sold its stake to Temasek, infuriating his opponents. The family wasn't obligated to sell because of Mr. Thaksin's role as prime minister, a post he had held since 2001, but decided to do so.
The tax-free nature of the deal triggered mass protests and eventually led to a bloodless military coup in September of that year.
Mr. Thaksin's supporters are mostly poor farmers in northern and northeastern provinces, and low-income earners in urban areas. Identified by their red shirts, Thaksin supporters have staged a number of antigovernment rallies over the past year, including riots last April during a summit of the Association of South East Asia Nations. ASEAN leaders fled the venue, humiliating the host Thai government.
Thousands of security forces were deployed across Thailand Friday ahead of the verdict in preparation for any possible violence. Security was also tight at the Supreme Court, but Bangkok was largely operating as normal.
Mr. Thaksin fled Thailand in late 2008 after a court convicted him of abuse of power and sentenced him to two years in prison. He continues to generate enormous divisions in Thailand, often taunting Prime Minister Abhisit Vejjajiva from Dubai—where Mr. Thaksin now is based—and addressing supporters by telephone or video-link.
----------------
Got to pay interest on money frozen,
Wahahaha...Another new joke from Thailand.Same Same But Different...:
:p:o:o:o
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You are right. This is nothing but robbery but this "victim" will not take it laying down. He is one of the most formidable mind that Thailand ever produced and I think the government has bitten off more than they could makan...
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i really dun mind if the gabramen 'robbed' the rich and give it to the poor...
if they keep that to themselves and slowly transfer to Swiss banks account....
i will shake my head....
If you understand Thai politics from late 1990s to mid 2000s, you'd understand the irony in your stand. Thaksin was ousted precisely because he "robbed the rich and gave it to the poor". Thaksin was charged for corruption precisely because he tried to stamp out military and police corruption in illegitimate vice industries.
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I think Thaksin was doomed from the day he met that whore by the name of Ching!
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