ASSETS SCRUTINY / THAKSIN, FAMILY IMPLICATED

Check on bank's B9.9bn loans

Ampa Santimetanedol

The Assets Scrutiny Committee (ASC) is poised to set up a sub-committee to investigate irregularities involving 9.9-billion-baht in lending by state-owned Krung Thai Bank to property developer Krisdamahanakorn, a source in the ASC said.

The probe is likely to be headed by ASC member Saowanee Asawaroj who heads a preliminary fact-finding inquiry into the improper lending scheme.

According to the source, the investigation was made possible after the Bank of Thailand lodged a formal complaint with the ASC.

In its complaint, the BoT implicates deposed leader Thaksin Shinawatra, his wife Khunying Potjaman, their son Panthongtae, and former KTB board directors led by Suchai Jaovisidha.

The complaint has been sent to ASC chairman Nam Yimyaem.

Two representatives from the Office of the Attorney-General and another from the Royal Thai Police will also join the investigation. The sub-panel is expected to be formed and call its first meeting next week.

It was alleged that the KTB executive board which was chaired by Mr Suchai approved the loan on the order of Mr Thaksin and the former prime minister's close associates. The money was said to have been transferred to politicians, not to the company for a restructuring programme. According to the source, more charges are likely to be levelled against people implicated as investigators delve into alleged irregularities.

Bangkok Post

Friday April 06, 2007