Freeze orders came nearly on a daily basis, so that reporters soon lost count over the exact number of bank accounts. Are there any more hidden somewhere else?

Just as puzzling, even to the AEC, is how ousted prime minister Thaksin Shinawatra financed the purchase of English football club Manchester City when it was believed all of his accounts had been frozen.

Streetwise has heard he could have amassed the money while still head of Shin. At that time, the flagship company Advanced Info Service was the dominant player in the mobile-phone industry. As the network was locked in for only handsets sold by the company, it netted a huge profit from mobile-phone sales.

"The handsets could have been sold cheaply by foreign manufacturers to a business unit established abroad," said one source. "Then the unit could have sold them back to Thailand at a much higher price and reaped the difference. Huge profits could then have been moved to bank accounts at foreign destinations."

Why shouldn't we doubt this? Thaksin has a history of lying. Just take Ample Rich Investments as one example. He denied all along he owned the company, but it turned out, even before his political career ended, that he did.

The AEC should track down whether Thaksin has any other interests registered abroad. The question is: will the AEC have enough time for that?

achara_d@nationgroup.com