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Billions were transferred to Thaksin’s allies during Thailand’s Red Crisis

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Large sums of money were also found to have been transferred into and out of accounts held by Puea Thai Party MPs and red shirt protest leaders and supporters over the past nine months revels the Bangkok Post in its latest edition.A DSI source yesterday said investigators traced the financial transactions of 86 individuals and companies on suspicions they funded criminal activities during the red shirt protests.

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The inquiry covers the period from September 2009 to May this year.

Thaksin’s family members withdrew large sums from their accounts from April 28, when the anti-government United Front for Democracy against Dictatorship UDD rally intensified after soldiers fired on protesters on the outskirts of Bangkok.Some 4.23 billion baht was withdrawn from the bank accounts of Thaksin’s son Panthongtae and 6.63 billion baht from the accounts of his daughter Pinthongta starting from April 28.About 4.56 billion baht was also withdrawn from the accounts of Thaksin’s brother-in-law, Bannapot Damapong.About 140 million baht was withdrawn from the accounts of Thaksin’s younger sister, Yingluck, on April 28.Money has been flowing into and out of the accounts of Puea Thai politicians who represent the home provinces of red shirt protesters since last September. Most of the money was withdrawn, although some was kept in the accounts.The accounts of Sermsak Pongpanich, former MP for Khon Kaen, received about 14 million baht and 13 million baht was withdrawn.

via Rally billions uncovered.

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Myanmar

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Politics

Thai generals want more control on foreign businesses

Thailand’s military government is planning to amend the FBA (Foreign Business Act) to prevent foreign directors from controlling joint venture firms that are majority-owned by Thai shareholders.

Olivier Languepin

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Thailand’s military government is planning to amend the FBA (Foreign Business Act)  to prevent foreign directors from controlling joint venture firms that are majority-owned by Thai shareholders. (more…)

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