Thailand top court seizes part of former PM's fortune
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Saturday, February 27, 2010
Thailand's top court on Friday seized $1.4 billion (919 million pound) of former premier Thaksin Shinawatra's family assets for abuse of his power.
The court said $1.4bn (£910m) of the assets were gained illegally through conflict of interest when Mr Thaksin was prime minister.The verdict provided for far smaller seizure than expected, in a ruling that could appease some anti-government forces.In what many saw as a compromise aimed at preventing a violent reaction, the court returned $900 million in frozen assets to Thaksin, a former telecoms mogul who won two elections in landslides before he was ousted in a 2006 coup.
The court took several hours to deliver its verdict, with security forces on high alert amid government predictions of violence by Mr Thaksin's red-shirted supporters if the court decision went against him.There were only small numbers of Thaksin supporters outside the court. The pro-Thaksin United Front for Democracy against Dictatorship (UDD), which leads the red shirts, has said it has no plans for any demonstration until mid-March.
Thaksin, 60, was convicted of graft while living in self-imposed exile mostly in Dubai -- a crime his supporters believe was an attempt by Bangkok's elite to keep him at bay and stifle democracy in Thailand.
Supporters say he revolutionised Thai politics with pro-business reforms and populist policies aimed at eradicating poverty. Critics accuse him of authoritarianism, crony capitalism and of undermining the monarchy.