Assets of ousted Thai PM frozen by ASC

Bangkok, June 12: An anti-corruption panel probing graft allegations against ousted Thai prime minister Thaksin Shinawatra has ordered a freeze on his personal wealth of more than 1.5 billion US dollars.

The Assets Scrutiny Committee (ASC) set up after September 19, 2006 military takeover while Mr Thaksin was away from the country, has given the ousted leader and his wife 60 days to prove that they earned the money by legal means.

The order which comes into effect today, also covers assets held by Mr Thaksin's two adult children including 21 bank deposits linked to the controversial sale of Mr Thaksin's family telecom business a year ago to Singapore's state investor Temasek Holdings.

It was January 2006, tax-free 1.9 billion US dollars sale of Shin Corp founded by Mr Thaksin which had triggered massive street protests in Bangkok against the then prime minister Mr Thaksin, leading eventually to the military coup.

Thailand's military rulers had then authorized the seizing of personal wealth of public officials which was suspected to have been acquired by wrongful means.

An ASC spokesperson said the freeze was ordered after a thorough probe which found that Mr Thaksin was involved in five malfeasance cases and six cases of abuse of power to obtain unusual wealth.

However, Mr Thaksin's lawyer in Bangkok said his client would challenge the order.

''I will set up a legal team to file criminal and civil lawsuits against the ASC,'' the lawyer said, adding that Mr Thaksin felt the action was politically motivated.

''The ASC seeks to discredit Mr Thaksin and its course of action does not follow the rule of law,'' Mr Thaksin's lawyer said.

UNI