Court issues Thaksin warrant

Ousted PM a no-show at KTB saga hearing

A warrant has been issued for the arrest of ousted prime minister Thaksin Shinawatra to stand trial in the Krungthai Bank (KTB) loan scandal in the Supreme Court.

The Supreme Court’s Criminal Division for Holders of Political Positions yesterday approved the arrest warrant following the ex-premier’s no-show yesterday at the first court hearing.

The KTB scandal is one of two criminal cases to resume in the Supreme Court under a new organic law that allows the trial of fugitive politicians to proceed in their absentia.

The other case involves the Thaksin government’s conversion of mobile phone operators’ concession fees into excise tax said to have benefited Thaksin’s own company.

Under the law, if the defendant cannot be arrested within the next three months, the trial can resume in his absence. However, the defendant retains the right to appoint a lawyer to fight the case on his behalf at any time.

Neither Thaksin nor his lawyer turned up for the hearing yesterday, prompting the court to issue the warrant for the fugitive prime minister’s arrest. Authorities concerned are required to update the court on any progress in tracking Thaksin every month.

The Supreme Court also scheduled Sept 26 for examination of witness and evidence and required the defendant to hand over the witness and evidence list 14 days prior to the scheduled hearing.

In June 2012 the Office of Attorney General filed a lawsuit against Thaksin and 26 individuals and private firms in connection for wrongfully approving more than 9.9 billion baht in loans to the affiliates of developer Krisda Mahanakorn between 2003-2004.

The firm was listed by the bank as a non-performing debtor. Under the debt-rehabilitation agreement, Krisda Mahanakorn was not eligible to receive any more loans.

However, KTB approved loans to the firm’s affiliates, including 500 million baht. It also extended a 1.18-billion-baht loan to finance the sale of convertible preferred shares between Krisdamahanakorn and Grand Computer Communication. All the transactions took place while Thaksin was prime minister.

The defendants ranged from bank executives, senior credit executives, credit and risk analysts, the private firms involved, and representatives of the private firms. The case against Thaksin was suspended under the old law as the former premier had fled the country.

In August 2015, the Supreme Court’s Criminal Division for Political PositionHolders sentenced 19 of 26 defendants in the KTB case to jail.