Published on February 01, 2006

The Democrat Party will launch impeachment proceedings against Prime Minister Thaksin Shinawatra if he is found to be the actual owner of Ample Rich Investments, which held shares in Shin Corp before the sell-off of the family company. Article 209 of the Constitution bans ministers from being partners or shareholders in companies or partnerships.

Democrat deputy secretary general Thaworn Senneam said he suspected Thaksin was the real owner of the offshore company, which sold its Shin shares to Thaksin’s family at a steep loss. If the Securities and Exchange Commission rules that the Ample Rich deal was shady, then Thaksin would lose his post.

The SEC has ordered Thaksin’s daughter Pinthongta and son Panthongtae to clarify within 7 days their relationship with Ample Rich.

Chamlong Srimuang, a former leader of the Palang Dharma Party, called on Thaksin to offer Bt26 billion to the government out of the Bt73 billion his family received tax-free from selling Shin to Singapore.

Bt26 billion was the amount of tax that would have been incurred if the family had sold its Shin shares outside the stock market, he said.

Chamlong told a press conference he submitted an open letter to Thaksin asking him to donate money to the state to help the poor.

“After that, you will still have Bt46 billion left. Die and be born for another 1,000 lives, you can’t use up all this money. I hope that this letter will not diminish our existing relationship,” the letter said.

Chamlong told Thaksin being honest was not enough, politicians had to sacrifice, and display a high level of integrity. He voiced opposition to the sale, saying it shook the morale of the country.

“There’s no need to mobilise that amount of money for any purpose. The whole country is wondering what’s going on,” he said.

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