PM's Office Minister Satit accused of concealing assets

Ruangkrai said he found that Satit had almost Bt10 million more in assets than liabilities over a period of 11 months, not Bt587, 268.39 as he reported to the NCCC.

On January 21, 2008, Satit reported his net worth at Bt35.1 million but after assuming the ministerial post he reported his net worth at Bt35.7 million. However, when he was an MP Satit had included a school worth Bt8.9 million in his declaration, but the school was not declared as an asset after he assumed the ministerial post.     

Ruangkrai said he had found that Satit had placed the school's land title deed as collateral for a loan he had sought from the Government Savings Bank, which meant Satit still owned the school - a fact that has made him suspect that Satit might be concealing his assets.

Satit responded to the accusation by saying that after he assumed the ministerial post, he inquired with the Cabinet secretary-general and the NCCC on whether he should resign as owner of the school and was told that he should resign due to legal technicalities. He said he did not include the school in his assets because it was registered as a juristic entity, but that he still owned the land on which the school was built.

"I am not concealing assets as accused and am ready to clarify any allegations in front of the NCCC," he said.