Military to strip former Thai leader of fortune

Published on Sunday 24 September 2006 00:56

THAILAND'S military rulers will investigate the vast assets of toppled prime minister Thaksin Shinawatra and confiscate those he may have gained from corruption and abuse of power during his nearly six years in office.

Members of Thaksin's family have stayed in Thailand while he remains in London amid speculation they want to protect a fortune that soared after the telecoms tycoon-turned-politician took office in 2001.

While he faces losing assets since coming to power, a well-placed source said: "The assets and money he had before he became prime minister will not be touched."

A spokesman for the leaders of the military coup said Thaksin can go back: "We still consider him a Thai citizen and he is welcome to return to Thailand."

The country's ruling military council, which toppled Thaksin last Tuesday in a bloodless coup, faces a host of urgent tasks, including restoration of peace in southern Thailand, where a Muslim insurgency has killed more than 1,700 people.

Yesterday, four police officers were injured in the first attack since the coup, when a bomb exploded in Pattani province as they prepared security ahead of a visit later in the day by Crown Prince Vajiralongkorn.

Meanwhile, a former bank chief and a former Senate speaker yesterday joined a speculative pool of candidates for the post of prime minister. Former Thai central bank chief Chatu Mongol Sonakul is being tipped because of his fiscal expertise and recognition in the world community.

Military and civilian sources working with the coup leaders said former Senate speaker Meechai Richuphand, who is writing laws for the coup leaders, was also being considered.

All eyes are on the military to fulfil its pledge to pick a leader within two weeks to oversee political reforms and eventual elections. It was Thailand's 18th coup since it became a constitutional monarchy in 1932, but its first in 15 years.