Thailand ruling party urges Thaksin to quit politics

Supporters of former Thai prime minister Thaksin Shinawatra react during the Supreme Court verdict on the fortune of Thaksin at the opposition's headquarters in Bangkok. Thailand's fugitive former prime minister Thaksin Shinawatra and his supporters have vowed to fight back against a court order seizing more than half of his $2.3 billion fortune.

A supporter of former Thai prime minister Thaksin Shinawatra holds a book with Thaksin's picture on the cover in Bangkok February 27, 2010. Thailand's top court on Friday seized $1.4 billion of former premier Thaksin Shinawatra's family assets for abuse of his power, far less than expected, in a ruling that could appease some anti-government forces but protesters said they will continue to rally in mid-March. REUTERS/Sukree Sukplang

via CAAI News Media

by Apilaporn Vechakij Apilaporn Vechakij – Sat Feb 27, 2:57 am ET

BANGKOK (AFP) – Thailand's ruling party on Saturday urged deposed premier Thaksin Shinawatra to leave the political stage after the top court ordered the seizure of more than half of his 2.3-billion-dollar fortune.

The fugitive tycoon said the verdict had made him a "political martyr" of an elitist political system, but politicians from the country's ruling coalition said he should accept the ruling and stop inciting his supporters to protest. Key facts of the case against ex-Thai PM Thaksin

"Every side should accept the verdict. We want to ask Thaksin to quit the political movement, because if he quits the Red Shirts will quit too," Theptai Seanapong, a spokesman for the ruling Democrat party, told reporters.

The "Red Shirts", so-called for the colour they wear, are a strident political group who view Thaksin as a hero for his populist stance against the country's establishment and have held numerous street rallies to back him.

After reading a seven-hour verdict on Friday, broadcast on television and radio, Supreme Court judges said the government should seize 46 billion baht (1.4 billion dollars) of the assets from the sale of Thaksin's telecoms firm.

But they said the twice-elected former leader, who was removed from office in a coup in 2006, could hold on to the money he had already accumulated before taking office in 2001. Key dates in Thaksin saga

Thaksin reacted to the verdict in a video speech from exile in Dubai, where he is living to avoid a two-year jail term for corruption at home, calling the ruling "very political" and a "joke for the world".

His lawyers Saturday said they would consider submitting fresh evidence to the Supreme Court and would mull an appeal to the World Court.

"Our team of lawyers will consider an appeal within 30 days. There are many regulations to consider," said Thaksin's lawyer Noppadan Pattama.

Despite Thai security forces bracing for violence there was no sign of trouble from Thaksin's supporters following the court decision, police said.

Up to 35,000 extra security personnel remained on watch across the country, with riot police still on guard at the courthouse, but Thaksin's political allies vowed to continue their battle without violence.

"We can protest but peacefully. It's not only the duty of the party but everyone to fight for justice," said Chavalit Yongchaiyuth, chairman of the Thaksin-allied Puea Thai party.

The Red Shirts have vowed to hold rallies from March 12 in Bangkok, leading many to fear a repeat of scenes last April when riots at an Asian summit and in Bangkok left two people dead and scores injured.

The government had applied for the seizure of proceeds from the sale of shares owned by Thaksin and his family in his Shin Corp telecoms giant, which was bought by Singapore-based Temasek holdings in January 2006.

The judges said in the ruling that Thaksin had used his power to benefit Shin Corp and illegally hid his ownership of the shares, among other graft charges.

The case goes to the heart of societal rifts that have dogged Thailand since the coup.

The Red Shirts, largely from Thaksin's stronghold in the nation's poor north and northeast, loved his populist policies and accuse the current government of Prime Minister Abhisit Vejjajiva of being an unelected elite.

The tycoon's opponents in the Bangkok-based circles around the palace, military and bureaucracy accuse Thaksin of being corrupt, dictatorial and of threatening Thailand's widely revered monarchy.