With the mysterious disappearance of 10-billion-baht of debt from the asset list of Deputy Transport Minister Weerasak Wangsuphakijkosol, a Bhumjaithai Party list MP, and his wife Yolada, the National Anti-Corruption Commission (NACC) is left facing a major dilemma -- how to improve transparency among politicians.
This unusual asset portfolio might have gone unnoticed had notorious whistleblower Srisuwan Janya not earlier this week filed a case with the NACC, urging the agency to probe the sum.
Eyebrows were raised after it was revealed that 10-billion-baht in debt had been written off within two years.
Initially, the politician and his wife had declared the sum in the "assets and debts" category when he became a list MP in 2019.
Yet Ms Yolada, who on Jan 24 became president of Nakhon Ratchasima's provincial administration, did not include the 10-billion-baht figure when she updated her assets as required by the anti-graft law.
After being alerted to this massive debt haircut, the NACC noted the couple had accumulated a further 361 million baht in assets over the past two years -- 150 million baht in Ms Yolada's name and 211 million baht in her husband's.
Mr Weerasak said that debt was incurred by someone else and he, as guarantor for that person, declared it accordingly. He said he did not declare it in his updated assets because it had been written off, and with all the relevant documents having been submitted, there was no further need to provide clarification to the NACC.
The asset declaration given by Mr Weerasak, however, reflects a general lack of concern among politicians over the need to be transparent about the mechanics of their financial dealings for the sake of public trust.
The case not only provides further evidence of just how wealthy many politicians really are, but also exposes a desire to conceal this great divide from the public.
This is a sphere where a secretary can have shares worth millions put in her name and an army leader turned cabinet member can flaunt more than a dozen luxury watches of equally astonishing value as long as they are just "loans" from a deceased pal.
To be fair, as incredible as it sounds, Mr Weerasak, a former kamnan in Nakhon Ratchasima, was a self-made billionaire even before he entered the political arena a few years ago after establishing a successful tapioca factory in the province, so his association with such large sums is not that surprising in itself.
What's noteworthy, however, is that Mr Weerasak has just been appointed deputy transport minister -- the portfolio under the control of the Bhumjaithai Party, which is known for having a contingent of very wealthy members.
It is a major ministry with jurisdiction over several mega construction projects -- each worth billions of baht on the investment scale.
In that regard, it is a party that needs to pay particular heed to making sure its politicians' images are immaculate for the sake of public confidence in its standing.
Mr Weerasak should consider it a duty to uphold the principles of transparency and accountability.
He could make a start by revealing to the NACC for whom he acted as surety for in that 10-billion-baht debt. The public is all ears.