Bhumjaithai Party MP found holding iTV shares, investigation called

Thai news agencies and locals were quick to highlight the fact that Pita Limjaroenrat, the leader of the Move Forward Party (MFP), owned shares in the media company iTV. However, it appears that Pita is not the only politician with such holdings. Bhumjaithai Party MP Jakkrit Thongsi also possesses 40,000 shares in a media company.

The Office of the National Anti-Corruption Commission (NACC) publicly disclosed the assets and liabilities of politicians in anticipation of 100 MPs stepping down to make way for newly elected representatives. Of particular interest to the Thai media were the iTV shares held by Jakkrit, a member of the Bhumjaithai Party.

Jakkrit currently serves as the representative for the 7th district of Burriram province. However, during the 2023 General Election, he won as an MP for the 10th district of the same province.

According to the NACC’s report, Jakkrit and his wife, Suppajira Thongsi, declared total assets worth 84 million baht, with no outstanding debts. Jakkrit revealed that his annual income amounts to approximately 5.8 million baht, while his wife earns 1.14 million baht per year.

Among his assets, Jakkrit holds shares in two companies. He possesses 41.58 million units in Property Perfect, valued at 16.6 million baht, and 40,000 units in iTV, which are currently assessed as having no value.

Following the disclosure of this information, numerous netizens called on the relevant authorities to investigate Jakkrit, just as they did in Pita’s case.

Jakkrit later reassured news agencies that he had transferred the shares to his cousin in 2018, prior to participating in the 2019 General Election. He staunchly maintained his innocence and expressed his willingness to clarify the situation in court.

Jakkrit clarified that the iTV shares remained in his NACC account because they could neither be transferred nor sold on the stock market due to the company’s status. Even though he possessed over 40,000 units, their worth amounted to zero baht. What he had done was create an official document detailing the transfer of shares to his cousin. Jakkrit said…

“I am not concerned about being investigated. I completed the official documentation in 2018, and the transfer was finalized. Furthermore, the shares hold no value, and I cannot sell them. Even if I were to sell them, no one would be interested in buying. If anyone wishes to lodge a complaint against me, I am prepared to defend myself. I am ready to publicly present the documentation and willingly cooperate with the legal process.”

Meanwhile, the investigation into Pita’s media share case is still ongoing. Pita’s lawyer, Yongyuth Saokaewsatit, subsequently initiated legal action against Ittiporn Boonpakong, the president of the Election Commission (EC), and seven other officials. Yongyuth accused the EC of attempting to defame Pita. The court has taken the case under consideration, but no further updates have been announced at this time.