Court accepts malfeasance case tied to Thaksin's children

Court accepts malfeasance case tied to Thaksin's children

Former prime minister Thaksin Shinawatra, centre, poses with his son Panthongtae and daughter Pinthongta. (Photo by Weerawong Wongpreedee)
Former prime minister Thaksin Shinawatra, centre, poses with his son Panthongtae and daughter Pinthongta. (Photo by Weerawong Wongpreedee)

The Criminal Court on Monday accepted a lawsuit from the national anti-graft panel against four former revenue officials allegedly for helping two children of former prime minister Thaksin Shinawatra avoid taxes.

The National Anti-Corruption Commission (NACC) filed the lawsuit on Dec 3 against Benja Louichareon, a former deputy director-general of the Revenue Department and former deputy finance minister of the Yingluck Shinawatra government, as well as Jamras Yaemsoithong, Moleerat Boonyasiri and Krit Wipulanusas from the department's legal affairs office.

They were charged with helping Panthongtae Shinawatra and Pinthongta Shinawatra, Thaksin's son and daughter, avoid tax payment relating to their shares in Shin Corp. Each held 164.6 million shares in 2006. The siblings bought the shares at one baht each while the then market price stood at 49.25 baht.

The Criminal Court ordered the defendants to show up for the first hearing on Feb 23.

In January 2006, Thaksin, the then prime minister, announced the sale of his family's 49% stake in Shin Corp to Singapore's Temasek Holdings in a transaction worth 73 billion baht. As part of the sale, Mr Panthongtae and Ms Pinthongta purchased Shin Corp shares at a price of one baht each from Ample Rich, an offshore holding company controlled by the Shinawatra family.

The two Shinawatra siblings later sold the Shin shares in their name to Temasek through the Stock Exchange of Thailand for 49.25 baht each, reaping a capital gain of 48.25 baht per share or nearly 16 billion baht.

It was reported that Mr Panthongtae and Ms Pinthongta was liable for capital gains against the real value of the stock and should face a tax claim amounting to about 12 billion baht total on the pair, including interest and penalties.

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