More than Bt8 billion was withdrawn from six accounts in Thai-land held by former premier Thaksin Shinawatra, his family and relatives a week before the Assets Examination Committee (AEC) ordered the freezing of the accounts.

A report from the Bank of Thailand (BOT) said that between June 4 and 11, more than Bt8 billion was withdrawn from six of the 21 accounts, leaving a combined balance of around Bt43 billion.

The account from which most of the money - Bt5.6 billion - was withdrawn is in the name of Thaksin's brother-in-law Bhanapot Damapong.

The AEC found on June 4 about Bt20 billion had been withdrawn from the 21 accounts (no exact figures are available for two accounts) holding the Bt73 billion from the Shin Corp sale and Bt53 billion was left.

On Monday, the AEC ordered the freezing of the 21 accounts and other accounts held by Thaksin and Pojaman.

An AEC source said the committee was keeping an eye on the banking transactions of people close to the Shinawatra and Damapong families to watch for any movement of large amounts of cash. Among the accounts under scrutiny are those of Thaksin's sister Yao-wapa Wongsawat.

The AEC yesterday had a meeting to appoint two new panels to investigate cases related to the asset freezing.

AEC spokesman Sak Kor-saengruang said a subcommittee headed by AEC member and Auditor-General Khunying Jaruvan Maintaka will investigate the source of the funds and trace the transactions in the frozen accounts. Another subcommittee headed by AEC member Amnuay Tantara will consider the complaint filed by the account holders against the freeze order.

The AEC will also issue a White Paper for public distribution, clarifying its decision to freeze the accounts, Sak said.

Jaruvan's panel will meet today to keep up with the progress.

Meanwhile, the AEC panel investigating irregularities in the Shin Corp share sale has summoned Panthongtae, but Thaksin's son has asked for a postponement to June 27 because he is currently abroad.

BOT Governor Tarisa Watanagase believes the Bt8 billion withdrawn from the 21 frozen bank accounts between June 4 and 11, is still in the Kingdom given there is no evidence of electronic overseas transfers.

"It is unlikely the money was physically carried out either, because there are not enough foreign currency banknotes in circulation for the conversion," she said.

Tarisa also noted that former prime minister Thaksin Shinawatra and his family have never asked the central bank for permission to take money out to finance the US$27 million (Bt954 million) luxury townhouse purchase in Hong Kong.

Since Tarisa has been governor, she has received and approved only one proposal - to remit £70 million (Bt4.4 billion) for the purchase of a house in London.

Former governor MR Pridiyathorn Devakula, who made a visit to the BOT yesterday, added that during his tenure the family had not asked his permission for the transfer of money either for investment or property purchases.

According to BOT rules, monetary transfer out of the country of more than US$10 million needs approval from the central bank.

"He [Thaksin] might have bank accounts abroad and withdrew the money from those accounts to buy the house. As such, he did not need to ask for the central bank's permission," said Pridiyathorn.

He suggested the Anti-Money Laundering Office (AMLO) track down the ousted prime minister's monetary transactions, because commercial banks are required to report to the office any transactions in excess of Bt2 million. The money might be withdrawn for domestic activities or buying jewellery.

Tarisa said the central bank has been working on tracing the money transferred from the accounts of Thaksin and his wife, as ordered by the Assets Examination Committee.

"This would take time as it involves complicated transactions. We will start our work with the commercial banks first," she said.

Budsarakham

Sinlapalavan,

Bancha Khaengkhan,

Anoma Srisukkasem

The Nation