Thai court 'seizes some frozen assets' from ex-PM Thaksin

Thailand's highest court ruled to seize $1.4 billion from ousted Prime Minister Thaksin Shinawatra's $2.29 billion in frozen assets

Thai court 'seizes some frozen assets' from ex-PM Thaksin

Thailand's highest court ruled Friday to seize 46 billion baht ($1.4 billion) from ousted Prime Minister Thaksin Shinawatra's $2.29 billion in frozen assets, saying he had abused his political power for personal gain.

The Supreme Court said that "to seize all the money would be unfair since some of it was made before Thaksin became prime minister."

The verdict ended a case that began after Thaksin, a former telecommunications tycoon, was deposed by a 2006 military coup for alleged massive corruption and abuse of power.

The verdict was expected be celebrated by Thaksin's foes, protested by his supporters and potentially inflame Thailand's four-year political crisis.

Security was tight around the courthouse as the nine-judge panel took 7 1/2 hours to read its verdict against Thaksin and his family. The proceedings were broadcast live on national television.

It was unclear if the $900 million not confiscated would be returned to the twice-elected Thaksin, who was ousted in a 2006 coup and later convicted of graft in absentia.

Thaksin, who faces a two-year jail term from an earlier conviction, monitored the proceedings from exile in Dubai, where he provided a commentary via a video link and Twitter.

Agencies

Last Mod: 26 Şubat 2010, 16:50
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