Supreme Court to try Thaksin
Play
The Supreme Court's Criminal Division agreed to the trial of former prime minister Thaksin Shinawatra and 27 accomplices, implicated in Krungthai Bank's fradulent lending to Krisda Mahanakorn Group (KMC).
Defendants are summoned for the first testimony on October 11.
Aside from Thaksin, the other defendants included Viroj Nualkhair, former president of Krungthai Bank, and executives of KMC Group. They were charged of violating the Criminal Code's Article 157, Commercial Banking Act BE2505, the Securities and Exchange Act BE2535 and the Public Company Act BE2535.
The state prosecutors viewed that when these persons were in power, Krungthai Bank approved loans to KMC Group despite the group's poor financial position.
It loaned Bt500 million to RK Professional Co Ltd and Bt9.9 billion to Golden Technology Industrial Park Co Ltd. The prosecutors viewed that the persons conspired or supported the fraudulent practice at the state-owned bank, to benefit KMC Group and themselves.
The loans were approved when Thaksin was in office.
