Bangkok, Thailand (CNN) -- Thailand's supreme court Friday found the country's former prime minister guilty of abuse of power and seized a big chunk of his fortune.In a verdict that took hours to deliver, the court said Thaksin Shinawatra changed the law while he was in office to favor Shin Corp, his communications company.
The court said it is seizing more than 46 billion baht (about $1.4 billion dollars U.S.) from him.
The prosecution alleged that Thaksin illegally transferred the shares to his family, who then sold them to the Singapore government's Temasek without paying tax.
The supreme court ruled that Thaksin changed rules regarding foreign ownership of Thai companies to enable Shin Corp to be sold to the Singaporeans. Full Story
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Thai Court Rules Against Thaksin on Assets - Voice of America
Thai court seizes $1.4 bln of Thaksin family assets - Reuters
Thai Court Rules to Seize $1.4 Billion From Thaksin - The Wall Street Journal
Court Rules To Confiscate 46.3 Billion Baht Thaksin Assets - Bernama.com
Court seizes Shinawatra fortune - The Press Association
Court confiscates B46bn of Thaksin's assets - Bangkok Post
Thailand on edge before ruling on £1.5bn seized from former PM - Guardian.co.uk
Thaksin Loses $1.4 Billion in Thai ‘Compromise’ - BusinessWeek
Financial karma for Thailand's Thaksin - Asia Times Online
AIS to fend off fallout from assets verdict - TMCNet.com
Thaksin on the asset seizure case - Asian Correspondent
Round-up of responses on Thaksin assets seizure verdict - Asian Correspondent
Thaksin Shinawatra Says Goodbye to $1.4 billion - Forbes.com
