Red shirts take protest to Bangkok Bank HQ

Natthawut Saikua, a red-shirt leader, said that the red shirts would hold their demonstration outside the bank's head office in the Silom business area from noon to 6pm. He said the bank was one of Prem's major financiers that also received benefits in return.

Bangkok Bank is one of the country's largest commercial banks.

Natthawut accused the chief privy councillor of "spending his life like a politician" - getting support from financiers and paying back favours in return.

The red-shirt leader yesterday vowed to continue his crusade to expose suspicious funds involving the chief royal adviser. Natthawut said he was not satisfied with a simple explanation that the money conveyed through Prem was earmarked for charities.

"If the funds were destined for a religious donation as claimed, then there is no reason for the money to flow through Prem in lieu of making a direct donation to the temple in question," he said.

He had earlier sounded the alarm that businesswoman Kalyani Phanchet had issued two cheques worth Bt1.8 million each to Prem in 2004.

Kalyani's son and Thailand trade representative Vachara Phanchet subsequently clarified that his mother had made the donation to Wat Suan Kaew via Prem as a fund contribution. He showed the temple's receipt for the donation as proof.

Natthawut said he did not believe Prem was a fund-raiser. He called for tax officials to audit Prem's tax returns. He said he suspected foul play as Prem had paid the contractor for the building donated to the temple three months after receiving the so-called donation from Kalyani.

He said Prem might have profited from the donation, hence his liability to pay income tax. In one item listing use of the donated money, Prem's contractor paid Bt3,000 for a decorative plant when its market value was Bt700 - a possible example of how funds could be siphoned off for personal gain, he said.

He went on to claim that Kalyani had issued a series of cheques to Prem between 1998 and 2003, and urged the authorities to check into the suspicious payments.

He also alleged that every Army chief was obligated to shoulder the Bt200,000 expense per month for the upkeep of Prem's Si Sao Thewes residence.

The red shirts will soon organise a rally in front of Prem's residence in order to censure him, he said.

The censure is expected to focus on suspicious financial dealings and business benefits involving the Group 11, a social network formed by Prem and his fellow graduates from Suan Kularb College.