Thailand’s army-backed government said on Monday it would seize 21 bank accounts with assets worth 52.9 billion baht ($ 1.53 billion) from ousted Prime Minister Thaksin Shinawatra and his wife.
The announcement from the Asset Examination Committee (AEC), established after a September coup against Thaksin, followed months of investigations into alleged corruption during his five years in office. No charges have been filed in court, but the AEC said in a statement it had come to the conclusion that “Thaksin and his cronies had been corrupt and committed wrongdoings”.
AEC committee member Kaewsun Atibhodhi told a news conference the seizure order was not final and said Thaksin, who has not been allowed to return to Thailand since the coup, could challenge it in court.
“We have to confiscate these assets for now. The AEC has enough evidence to believe that he has committed wrongdoings,” Kaewsun said.
A former policeman and telecoms tycoon, Thaksin came to power in 2001 as head of the Thai Rak Thai (Thais Love Thais) party, promising to improve the lives of the rural poor with universal public health care.
He was wildly popular in the countryside, but critics and political opponents said he used his vast wealth to blind voters to “policy corruption” under which companies such as his family’s Shin Corp telecoms empire benefited unfairly.

Investment company
The $3.8 billion sale of Shin Corp to Singapore state investment company Temasek, which netted Thaksin’s family $1.9 billion, in early 2006 triggered the mass street protests that led ultimately to the army’s decision to launch Thailand’s 18th coup in 75 years of on-off democracy.
“They have illegally obtained wealth through abuses of power to benefit Shin Corp,” the AEC statement said.