Friday, February 26, 2010

Thailnad - Thaksin's THB 46 billion seized

[the nation] The high court rules Thaksin's wealth was ill-gotten gains. The earnings from the Shin Corp deal to Temasek of Singapore was ill-gotten, hence can be confiscated by the state.

The high court then addresses the ground on asset seizure related to the wealth held by Thaksin's ex-wife.

The judges ruled ill-gotten gains in the name of the spouse can be seized.

The judges outline two grounds to seize assets - unusual increase in wealth and abuse of office to beget the wealth.

The judges moved to address that the dividend payments can be seized.

The judges said the original stakes owned by Thaksin before assuming office can not be seized.

By a majority decision, the seizable assets confined to dividend payment worth Bt6 billion and the capital gains worth Bt39 billion. The total seizure is Bt46 billion.

Thaksin's Bt46 billion seized

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