Thailand to Probe Thaksin Funding for Manchester City
11/09/2007 |
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Thailand will investigate the purchase of Manchester City soccer club by former Prime Minister Thaksin Shinawatra, the junta-installed Asset Examination Committee said today.
Thaksin, who is in exile in London, agreed June 21 to pay 21.6 million pounds ($43.7 million) for the soccer club, offering 40 pence per share in cash and agreeing to assume debt of 60 million pounds. He made the purchase even after the committee froze more than 60 billion baht ($1.8 billion) of assets belonging to him and his family.
``It's our responsibility to find out where the money comes from,'' Kaewsan Atibodhi, the committee's secretary, told reporters today. ``This may need cooperation'' from abroad. Kaewsan doesn't know when the investigation will be completed.
Thaksin's lawyer, Noppadol Pattama, defended his client's actions when reached by telephone today.
``They can go ahead with the plan. We are ready to prove the money is clean,'' Noppadol said.
The 11-member committee, set up by the military junta that has ruled the country since overthrowing Thaksin last September, is investigating the former leader, his family and members of his ousted cabinet for alleged violations involving project approvals and transactions such as share sales.
(Source: Bloomberg.com)
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