Thaksin accused of corruption over loan to Burma

Posted on July 30, 2008
Filed Under Burma news |

Thaksins family interests alledged to have profited from low interest loan to Burma

Thaksin's family interests alledged to have profited from low interest loan to Burma

Deposed Thai Prime Minister Thaksin Shinawatra is facing new corruption charges in Thailand’s Supreme Court over a 4 billion baht (US$119 million) loan to Burma.

The court today agreed to hear charges that in 2004 Thaksin ordered the state-controlled Export-Import Bank of Thailand to increase a low interest loan to Burma from 3 billion baht to 4 billion.

The money was for the junta to buy services from ShinSat, a subsidiary of Shin Corp, Thaksin’s telecoms firm.

The Assets Examination Committee, which is examining allegations of corruption by the Thaksin administration, has accused Thaksin of conflict of interest and abuse of power for approving a loan to the company on terms more favourable to the borrower than available commercially.

The claim is the latest in a string of corruption charges against the former premier. Since being ousted in a bloodless coup in September 2006, Thaksin has acquired Premier League Football club, Manchester City.

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