BANGKOK, Sep 25 (Reuters) A Thai court issued an arrest warrant today for a Malaysia-based Thai businessman after he failed to report to police to answer charges of representing Singapore's Temasek illegally in its takeover of Shin Corp.
Surin Upatakul, known as Lau Khin Koon in Malaysia, was wanted on accusations of violating the Foreign Business Act, which bars a nominee company from holding shares on behalf of a foreign firm, police said.
''The Economic and Cyber Crime Division will forward his arrest warrant to the police criminal record unit and other police divisions tomorrow,'' Police Major-General Visut Vanichbut, head of the cyber crime division, told reporters.
The arrest warrant was issued after Surin failed to report to police by Monday's deadline. His lawyer told police he was in hospital in Malaysia, Visut said.
A police investigation concluded that Singapore state investment firm Temasek broke Thai laws when it acquired telecoms group Shin Corp for 3.8 billion dollars last year, but the case could not move ahead until Surin was handed over to prosecutors, he said.
He said Kularb Kaew, in which Surin was a major shareholder, was a holding company used by Temasek to take over Shin, formerly majority owned by the family of then Prime Minister Thaksin Shinawatra, which paid no tax on the $1.9billion it received.
That upset middle-class voters in Bangkok and led to hundreds of thousands of people protesting in the capital and led to the military ousting Thaksin in a coup last September.
If found guilty, Surin faces three years in jail.
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