Thailand's Supreme Court issued a verdict on Feb. 26, paving the way for the confiscation of over 46 billion THB (1.4 billion USD), or more than half of the total assets of Thai ex-premier Thaksin Shinawatra which worth 76 billion THB (2.3 billion USD).
In its verdict, which was broadcast live on Thailand ’s televisions and radios, the court said the majority of the judges rule that the wealth of Thaksin to be confiscated, from share dividends and part of the sale of shares in Shin Corp, is altogether 46.37 billion THB.
The Thai government had already monitored the sale of the shares owned by Thaksin and his family members to Singapore-based Temasek group, whose assets were also blockaded after the Thai ex-prime minister was ousted in a military coup in 2006.
Just minutes after the announcement, Thaksin said in a video speech from exile in Dubai that "This case is very political... The ruling will be a joke for the world.”
Thousands of troops and police had been deployed across the country for what the local media had dubbed "Judgement Day" but there were no outbreaks of violence by his backers, known as the "Red Shirts", after the ruling./.
In its verdict, which was broadcast live on Thailand ’s televisions and radios, the court said the majority of the judges rule that the wealth of Thaksin to be confiscated, from share dividends and part of the sale of shares in Shin Corp, is altogether 46.37 billion THB.
The Thai government had already monitored the sale of the shares owned by Thaksin and his family members to Singapore-based Temasek group, whose assets were also blockaded after the Thai ex-prime minister was ousted in a military coup in 2006.
Just minutes after the announcement, Thaksin said in a video speech from exile in Dubai that "This case is very political... The ruling will be a joke for the world.”
Thousands of troops and police had been deployed across the country for what the local media had dubbed "Judgement Day" but there were no outbreaks of violence by his backers, known as the "Red Shirts", after the ruling./.
