Thai police charge ousted Prime Minister Thaksinwith concealing assets

~ Thaksin was ousted in a bloodless coup Sept. 19 while he was in New York.

BANGKOK, Thailand -- Ousted Prime Minister Thaksin Shinawatra was ordered Tuesday to return from exile to face charges that he concealed his ownership of a company from the Thai stock exchange.

Police instructed Thaksin to turn himself in a day after state prosecutors said they would seek to have him and his wife tried for a suspicious land deal and after an anti-graft panel ordered more of his assets frozen. Thaksin became a billionaire in the telecommunications sector before entering politics and serving as prime minister from 2001 to 2006.

Sunai Manomaiudom, director-general of the Department of Special Investigations, said police had strong evidence that Thaksin and his wife secretly held shares through nominee companies in SC Asset Corp. PCL, a Shinawatra family real estate company. He said they must present themselves to police between Tuesday and June 29.

"If he intentionally refuses to come, we will issue an arrest warrant," he said.

Thaksin was ousted in a bloodless coup Sep. 19 while he was in New York. He has divided his time since then between a residence in London and travel around Asia. His wife and other family members continue to live in Thailand, but frequently travel abroad.

Thaksin was ousted by the military after demonstrations calling for him to step down because of alleged corruption and abuse of power. Another controversial business deal by his family, the $1.9 billion sale last year of telecommunications company Shin Corp. to a Singapore state investment company, contributed to public discontent.

The military has strongly discouraged Thaksin's return, fearing it will cause political instability by rallying his loyalists. Last week, army commander Gen. Sonthi Boonyaratglin, who led the coup against Thaksin, said the former prime minister might be harmed by his enemies if he returned to Thailand now.

But Prime Minister Surayud Chulanont said Tuesday that the government would ensure Thaksin's safety if he returned.

"He has the right to explain and he should be considered innocent for now. I want everything to proceed according to the justice system," he said.

Thaksin's lawyer and de facto spokesman in Thailand, Noppadol Pattama, quoted Thaksin as saying that he "is ready to follow the law and the courts' orders." But he declined to comment on the charges, and would not specifically say if Thaksin will return by the police deadline.

Thaksin and his wife, Pojamarn, were charged with violating regulations requiring disclosure of corporate information to the Stock Exchange of Thailand.

Sunai said they and other family members controlled nearly 80 percent of SC Asset, both directly and through nominee companies, and sold their interests to outside parties last year.

They are charged with violating disclosure rules both by failing to report their ownership and failing to report the sale of shares.

Each violation of the exchange's regulations carries a maximum penalty of two years in prison and a fine of $15,500.

Sunai said Thaksin is also suspected of violating a law on Cabinet members holding company shares, which carries a maximum penalty of 10 years in prison and a $31,000 fine. Sunai said police would forward their evidence on that charge to the National Counter-Corruption Commission.

Asked what would happen if Thaksin did not appear by the deadline, Sunai said that if Thailand's attorney-general approved Thaksin's indictment in absentia, he could request Thaksin's extradition.

On Monday, Attorney General Phatchara Yutithamdamrong announced that his office would submit to the courts a criminal case concerning the 2003 purchase by Thaksin's wife of some prime Bangkok real estate from the Financial Institutions Development Fund, which is directed by the central bank. The fund was established to handle assets of insolvent companies after the 1997 financial crisis.

Thaksin and his wife would face charges of conflict of interest and malfeasance in connection with the deal. An anti-corruption law bars prime ministers or their spouses from doing business with a government agency, and the committee said Thaksin as prime minister ultimately oversaw the FIDF.

Also Monday, an anti-graft panel ordered frozen $246 million in assets belonging to Thaksin's family.

The Assets Examination Committee had already frozen $1.6 billion believed to be proceeds from the Shin Corp sale.