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The Supreme Court’s Criminal Division for Holders of Political Office has sentenced fugitive former prime minister Thaksin Shinawatra to three years in prison without suspension after finding him guilty of malfeasance in office for approving a 4-billion-baht low interest loan from the Thai Exim Bank to Myanmar for the purchase of telecom equipment and services from his family-owned company, Shin Satellite.
The court also issued a warrant for the arrest of Thaksin who has been in self-exile since 2008.
After his overthrow in a military coup in 2006, a special Assets Scrutiny Committee was set up by the junta-appointed government to investigate Thaksin’s massive wealth and his alleged conflicts of interest which may have enabled him to amass considerable wealth. The Exim Bank’s loan to Myanmar is just one of about a dozen cases investigated by the panel and, subsequently, by the National Anti-Corruption Commission.