Panthongtae "Oak" Shinawatra, son of fugitive prime minister Thaksin Shinawatra, was indicted yesterday on charges of money-laundering in connection with the Krungthai Bank loan scandal.
Panthongtae: Will keep smiling
The charges against Mr Panthongtae were related to a cheque worth 10 million baht tied to wrongfully approved KTB loans in which the state-run bank granted 9.9 billion baht to subsidiaries of Krisdamahanakorn during the Thaksin administration. The loans were approved despite the firm being listed as a non-performing debtor.
Mr Panthongtae, 38, was arraigned in the Central Criminal Court for Corruption and Misconduct Cases shortly after he reported to the Office of the Attorney-General (OAG) to hear the indictment. He was indicted on charges of conspiracy and collusion in money-laundering.
As he arrived at the OAG with his sisters in the morning, Pinthongta and Paethongtan, he was showered with moral support from key members of the Pheu Thai Party including acting secretary-general Phumtham Wechayachai, legal expert Chusak Sirinil and former ICT minister Anudit Nakornthap.
Mr Panthongtae's mother, Khunying Pojaman na Pombejra, turned up to give moral support in the afternoon during the arraignment. In a brief interview, he said he was not worried about the case.
Released on bail set at 1 million baht, Mr Panthongtae was told not to travel abroad without court permission. He is scheduled to enter his plea on Nov 5.
In a related money-laundering case, the OAG yesterday summonsed Kanchanapa Honghern, who is secretary to Khunying Pojaman, and her husband Wanchai Honghern to meet on Oct 18 to hear an indictment.
Ms Kanchanapa and Mr Wanchai are accused of money-laundering in connection with another cheque worth 26 million baht which was also tied to the wrongfully approved KTB loans.
Mr Panthongtae and another suspect, Kesinee Jipipop, were also implicated in the 26-million-baht cheque case but the prosecution decided to drop the charges against them.
However, the Department of Special Investigation (DSI) which is responsible for the probe can challenge the prosecution's decision.
Money-laundering carries a jail term of 1-10 years and has a 10-year statute of limitations.
Ms Pinthongta and Ms Paethongtan yesterday turned to social media to extend moral support to their brother and thanked those who supported their family.
Ms Pinthongta said she would stand by her brother and vowed none were prepared to be sitting ducks.
Mr Panthongtae also posted a short message on social media saying he would keep smiling through the legal battle and would be as strong as his parents.
The cases against Mr Panthongtae, Ms Kanchanapa and Mr Wanchai involve the money-laundering aspect of the KTB loan scandal.
The DSI probe focuses on individuals who allegedly received part of the fraudulent loan. Receiving assets from a corrupt scheme forms the basis of money laundering under Thai law.
Krisdamahanakorn owner Wichai Krisdathanon, who was sentenced to 12 years over the loans, was also indicted on charges of money laundering along with 12 others.
The KTB loan scandal came to light after the 2006 coup. In a subsequent investigation, Thaksin was accused of using his power as prime minister at the time to force KTB executives to provide loans to the developer, causing more than 5.2 billion baht in damages, despite the company's poor credit rating.
Under the debt rehabilitation agreement, Krisdamahanakorn was not eligible to receive any more loans.
However, KTB eventually lent 9.9 billion baht to subsidiaries of Krisdamahanakorn to refinance loans and for project development.
In 2015, the Supreme Court's Criminal Division for Political Position-Holders found former KTB president Viroj Nualkhair, former bank chairman Suchai Jaovisidha and 22 other defendants guilty in connection with the KTB loan scandal. Nineteen defendants were given prison terms ranging from 12 years to 18 years including Viroj and Suchai who received 18 years in prison.
