Democrat Party strategist and treasurer Korbsak Sabhavasu launches his new book, ‘Who Says The Rich Don’t Cheat? – Part III: Am I Wrong?’ at the party’s coffee shop yesterday.

Korbsak Sabhavasu - a party campaign strategist and its treasurer - made the allegation at a news media launch of his new book "Who Says The Rich Don't Cheat? - Part III".

The book discusses the Bt73-billion sale of Shin Corp to Temasek.

Korbsak told reporters the book claimed British Virgin Islands-registered shelf company Ample Rich Investment Co Ltd acted as a nominee holding shares in Shin Corp for the Thaksin family before those shares were sold to Singapore state investment company Temasek Holdings.

The book alleged Thaksin may have used Ample Rich to conceal shares owned by him in Shin Corp and valued at Bt329 million. The chapter is called "Was it money laundering?".

The senior Democrat said Thaksin claimed he sold the Bt329-million stake to Ample Rich. He added the prime minister failed to mention the Ample Rich shares in an assets declaration made to the National Counter Corruption Commission (NCCC).

He demanded Thaksin provide transaction records that proved he received payment from Ample Rich for the transfer. If Thaksin failed to comply, Korbsak would ask the NCCC to investigate Thaksin for failure to report shares held by Ample Rich as his nominee.

"If Thaksin has no record he received money from Ample Rich, it must be considered that he owned the shares held by Ample Rich. And, that would be regarded as failing to declare shares he owned in Ample Rich," Korbsak said.

"The book asks questions regarding the sale of shares in Shin Corp that Thaksin must explain to the people," Korbsak said.

He said his latest book would be his last on this subject because he believed Thaksin would definitely take a political break, temporarily or permanently.

But, Democrat Party deputy leader Alongkorn Pollabutr said he wanted to see a new Korbsak book that explained the use of nominee companies in the Shin Corp sale.

Kiart Sitthi-amorn, a Democrat economist, told the briefing Temasek might be violating the Alien Business Act by allegedly having Kularb Kaew Co Ltd hold its shares in iTV.

Kularb Kaew is one of three companies established in Thailand ahead of the Shin Corp sale to buy the shares. The other two are Cedar Holdings Co Ltd and Aspen Holdings Co Ltd.

Kiart alleged Kularb Kaew's iTV stake held on behalf of Temasek meant the Singapore company exceeded the ownership ceiling for a foreign entity.

He asserted the Commerce Ministry was delaying releasing results of an investigation into Kularb Kaew by launching a new investigation that looked at how nominee companies are treated by the act.

However, Kiart said the first probe determined that.

Democrat Party deputy secretary-general Korn Chatikavanij said yesterday he would today demand an explanation from the Securities Exchange Commission (SEC) about the relationship between Win Mark Co Ltd and the Shinawatra family.

Korn said the SEC would be asked to explain why Win Mark, which Thaksin said had bought shares from him in four companies, had forfeited its right to make a profit by later transferring all the shares to a daughter of Thaksin.