Panthongtae “Oak” Shinawatra, son of former PM Thaksin Shinawatra, is a free man, after Thailand’s Attorney General decided to not appeal against his acquittal for alleged money laundering. He was charged by the Department of Special Investigations after 10 million baht was deposited into his bank account by an executive of the Krisdamahanakorn Group of real estate companies, which was granted a 10 billion baht loan by the state run Krung Thai Bank, despite the group’s poor financial standing.
The loan was later transferred to the accounts of companies affiliated with the Krisdamahanakorn Group and used to buy shares in Airports of Thailand Company, instead of being used to boost the financial status of Krisdamahanakorn Group.
The case dates back to 2004, when Thaksin was Thailand’s PM. Several executives of Krisdamahanakorn Group and Krung Thai Bank were given long prison terms in 2015, after being convicted of corruption and malfeasance by the Supreme Court’s Criminal Division for Political Office Holders.
After his acquittal, the public prosecutors decided to not appeal the verdict, thus clearing Panthongtae, but the DSI insisted on appealing to a higher court and the case went to the Attorney General, who has now brought this high-profile case to a close.
SOURCE: Thai PBS World
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