Pheu Thai MP Prakiart Nasimma yesterday initiated impeachment proceedings against the premier and two Democrats for allegedly running up the stock price of Thaicom, a satellite operator that the government said it might take over.
"Abhisit, Korn and Sirichoke are suspected of having abused their power and violating the Constitution after the three made public disclosures about the buyout scheme for communication satellites in a suspicious manner, indicating possible manipulation of share prices," Prakiart said.
Based on the stock exchange's report, Thaicom's stock jumped from Bt5 to Bt7-Bt8 following remarks from the three, he said.
The opposition suspected certain politicians might have made ill-gotten gains from the nationalising move, he said, while conceding the securities regulator had yet to draw a conclusion on the case.
The speaker said he would forward the motion to the National Anti-Corruption Commission, which would launch an inquiry.
Under the charter, the Senate would convene and conduct an impeachment trial if the NACC found cause to suspect foul play.
Abhisit said he had no worries.
"No problem because I'm confident I can rebut the charges since I'm not involved in any stock market manipulation," he said, confirming he has no investment portfolio linked to stock trading.
Sirichoke said he was also not concerned about the impeachment attempt, which he saw as a shallow ploy to discredit the government.