Forbes: Thaksin joins notorious club of richest people who have been jailed or are absconding.

Forbes also listed other legal troubles Thaksin has faced, starting with the 2008 court conviction when Thaksin was found guilty in absentia in connection with the Ratchadaphisek land scandal.

Thaksin Shinawatra is part of a notorious group of the world’s richest people who have either spent time behind bars or are on the run, Forbes magazine has said.

In an article headlined “Billionaire convicts and inmates”, Forbes noted that Wong Kwong Yu, 41, who was once one of China’s most celebrated and the nation’s richest person in 2006, was sentenced last week to 14 years in jail after having been convicted of insider trading and bribery.

“Another former Asian billionaire could be in even hotter water,” the article said. “Thailand’s former prime minister,Thaksin Shinawatra, was charged with terrorism this week. The Thai government claims he is responsible for spurring the anti-government red shirts during the violent chaos that inflamed the streets of Bangkok over the past two months leaving 88 dead. Thaksin denies involvement.”

Forbes also listed other legal troubles Thaksin has faced, starting with the 2008 court conviction when Thaksinwas found guilty in absentia in connection with the Ratchadaphisek land scandal.

“He never made it behind bars as he was already out of the country when convicted, reportedly having fled to Dubai. But his family lost the bulk of its money, which was seized by the government. This time, if he were caught, the consequences would be graver. The former billionaire, who has told reporters from his undisclosed location that he did not incite violence, could face the death penalty,” the article said.

Forbes said the two Asian tycoons are just the latest examples of a long line of ultra rich outlaws, outcasts and convicts throughout history. According to the magazine, there are at least three former billionaires behind bars in addition to Wong. They include Russians Mikhail Khodorkovsky and Platon Lebedev, and R Allen Stanford, the Texan financier accused (though not yet convicted) of running an $8-billion Ponzi scheme.

“Rather than go to prison, other billionaires and former billionaires like Thaksin have opted to adapt to a life in exile or a life on the run from the law,” Forbes said.

News item courtesy of The Nation at www.nationmultimedia.com