BANGKOK, Nov 5 (TNA) – Panthongtae Shinawatra, son of fugitive former prime minister Thaksin Shinawatra, denied money laundering charge and conspiring to launder money of the amount of 10 million baht in connection with the Krung Thai bank loan scandal in the court hearing today.
He was indicted for receiving a 10-million- baht cheque, which was part of fraudulent loans of 9.9 billion baht that the state-owned bank lent to the property group, Krisdamahanakorn when his father was serving as prime minister.
The loans were approved despite the firm being listed as a non-performing debtor.
In 2015, executives of the bank were sentenced to 18 years in jail for malfeasance in extending illegal loans.
The 10-million baht cheque was the money that his friend would co-invest with him in a business and he will submit a written statement to clarify the case by December 14, he said to the Central Criminal Court for Corruption and Misconduct Cases today.
After the hearing today, Panthongtae declined to give any comments on the case. (TNA)
