Friday, July 17, 2009

Frank & Co’s new found fugitive friend’s assets to be seized

We say – Thaksin is the guy who has befriended dictator Frank Bainimarama promising to plough in millions into Fiji’s ailing economy. Where will he source his money from we wonder? Fiji’s taxpayers and FNPF perhaps?
Prosecutors in Thailand have started proceedings to permanently seize $US2.2 billion in assets belonging to convicted former prime minister Thaksin Shinawatra.
The funds were frozen in 2006 after Mr Thaksin was ousted in a military coup.
The prosecution and defence have more than 100 witnesses to participate in the trial, which is expected to last until October.
Mr Thaksin is not expected attend. The billionaire-businessman has lived in exile since the coup, returning only briefly last year to face a corruption trial over a multi-million dollar land deal involving his wife.
He fled again before he was sentenced to two years prison in that case.
Mr Thaksin has since spent time in Britain and Hong Kong. More recently he has been based in Dubai.
His lawyers say this case is politically motivated.
They say the case was mounted by a body backed by the coup makers who forced him from office almost 3 years ago.
Some political observers say it will be difficult to prove the money was gained illegally.
Mr Thaksin changed many laws while in office, famously adjusting foreign ownership rules to allow the sale of his telecommunications firm Shin Corp to a Singapore company.
- Radio Australia

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