Behind every billionaire there is a story!

Thai Prosecutors Charge Thaksin, May Seize $2 Billion

Thai prosecutors charged former Prime Minister Thaksin Shinawatra with abusing his power, seeking to confiscate $2.2 billion of assets that were frozen after a 2006 coup.“The court should seize Thaksin’s assets as he earned unusual wealth from a conflict of interest,” Sakesun Bangsomboon, director-general of the Department of Special Litigation, said today. The attorney general’s office used a truck to transfer 240,000 pages of legal documents to the court.

The charges add to three cases already accepted by the Supreme Court in Bangkok against Thaksin, who fled into exile earlier this month claiming the judiciary is corrupt. Thai officials have said they may revoke the billionaire’s passport and seek his extradition from England, where he owns Manchester City football club.

Before entering politics, Thaksin, 59, won one of two mobile-phone concessions, and was awarded an exclusive satellite franchise. In 1994, when he was appointed foreign minister in a coalition government, Thaksin and his wife disclosed assets worth $2.4 billion. He formed his own party in 1998 and became prime minister in 2001.

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