thaizer.com

Thailand’s top court has finally concluded announcing the verdict in the Thaksin Shinawatra assets case. The Supreme Court has found Thaksin guilty of an abuse of power and a conflict in interest during his time as prime minister of Thailand. This allowed Thaksin to gain financially from deals involving his own telecoms company, Shin Corp. The court ruling means that Thaksin will lose over half of his 76 billion Baht (2.2 billion USD) fortune which had been frozen since the 2006 coup.

However, the court also recognized that Thaksin was a successful businessman in his own right before he assumed political office and so an estimated 30 billion Baht in assets could be returned to Thaksin although that may be the subject of further legal wrangling.

Thaksin may have lost 46 billion Baht today, but he didn’t lose everything as some analysts had predicted. Thaksin will now have time to consider his next move as will his red shirt supporters. A mass anti-government rally is already scheduled for next month and Thailand’s long running political dispute will continue.

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