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Ex-PM of Thailand's son indicted on charges of money laundering

Devdiscourse News Desk bangkok Thailand
Updated: 10-10-2018 21:09 IST

The son of former Thai Prime Minister Thaksin Shinawatra has been indicted on charges of money laundering, as pressure mounts on the ousted leader's political allies.

Panthongtae Shinawatra was arraigned Wednesday for allegedly receiving 10 million baht ($303,500) linked to an earlier corruption case in which Krungthai Bank executives were convicted of extending fraudulent loans.

Panthongtae appeared Wednesday at the Central Criminal Court for Corruption and Misconduct Cases, where he was granted bail of 1 million baht ($30,340).

Critics view the case as politically motivated ahead of elections planned for early next year. Authorities say they are also considering penalties against Thaksin's Pheu Thai party. Thaksin was prime minister in 2001-2006. He was ousted in a military coup amid accusations of corruption and alleged disrespect for the monarchy.

(With inputs from agencies.)

COUNTRY : Thailand