On 26 February2010, from 13.00-21.00 hrs, the panel of nine judges of the Supreme Court's Criminal Division for Persons Holding Political Offices sat on the bench and read the ruling on the case filed by the Office of Attorney-General against Pol. Lt. Col. Thaksin Shinawatra requesting that assets worth 76,621,603,061.05 baht, together with the interests accrued therefrom, become property of the state, on the grounds that these assets were acquired inappropriately through acts constituting a conflictbetween personal and public interests, thereby constituting unusual wealth. Gistis as follows:

          • Having reviewed all testimonies and evidence from both the plaintiff and the defendant, the Court ruled that Pol. L1. Col. Thaksin, while being Prime Minister for two terms, had committed acts that inappropriately benefited Shin Corporation PublicCo" Ltd. (Shin Corp), the company which he actually owned the majority of shares. However, the Court felt that to confiscate all the assets related to the sale of Shin Corp shares would be unfair, as part of the assets were acquired by Pol. Lt. Col. Thaksin prior to becoming Prime Minister in February 2001, amounting to 30,247,915,606.35 baht. The Court therefore decided by majority vote that 46,373,687,454.70 baht, comprising money from the sale of Shin Corp shares and the dividends from the shares, together with the interests accrued from the said amount since the assets were frozen, would become property of the state.

           • In coming to its decision, the Court deliberated and ruled on the following:
              1. Whether Pol. Lt. Col. Thaksin, while being Prime Minister from February 2001 till March 2005, was the actual owner of 1,419,490,150 shares in Shin Corp but sought to concealthe holding of such shares under the names of Mr. Panthongtae Shinawatra, Miss Pinthongta Shinawatra, Miss Yingrak Shinawatra and Mr. Banapot Damapong as their nominees.

               ► The Court, considering the behaviours and actions of the defendant and other persons concerned, found that there existed irregularities and concealment of shares and that Pol. Lt. Col. Thaksin was the actual owner of 1,419,490,150 shares in Shin Corp, or some 48% of Shin Corp shares, which he sold to the Temasek Group of Singapore on 23 January 2006 for a total of 76,621,603,061.05 baht.

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