Yingluck In Thai Court, Denies Charges, Faces 10 yrs In Prison

Posted by: : Paul EbelingPosted on: May 19, 2015 Yingluck In Thai Court, Denies Charges, Faces 10 yrs In Prison

Yingluck In Thai Court, Denies Charges, Faces 10 yrs In Prison

Ousted former Thai Prime Minister Yingluck Shinawatra appeared at a Bangkok court Tuesday for the start of her trial on negligence charges over a multi-Billion dollar Rice scheme that anti-corruption authorities alleged was plagued with graft.

It is the latest in a number of cases that have been brought against the former PM, cases her supporters say are part of an attempt by the ruling junta and their establishment allies to tighten their grip on power a year after they toppled her government last year.

Ms. Yingluck denies the charges, and faces up to 10 yrs in prison if she is found guilty. She has accused her enemies of conducting a ‘witch-hunt’ against her in order to handicap her powerful family.

“I prepared myself well today and am ready to defend myself in court,” Ms. Yingluck told reporters as she arrived at the Supreme Court in Bangkok. “I hope that I will be awarded justice.”

Ms. Yingluck was forced from office in May 2014 after Thailand’s Constitutional Court found her guilty of abuse of power. Weeks later, the Thai military staged a coup that removed the remnants of her government.

The case against Ms. Yingluck is just the latest action in a long-running political saga that includes more than 10 yrs of violence that has pitted supporters of her and her exiled brother Thaksin, himself a former PM, against the royalist-military establishment that sees the Shinawatras as a threat and reviles their populist policies.

Speaking on the sidelines of a conference in Seoul Tuesday, Thaksin said he had no plans to mobilize his “Red Shirt” supporters but called the 1st year of the junta government which came to power in a coup “not so impressive”.

“I think democracy will prevail sooner or later, but we have to be patient, and we have to be peaceful,” he said. “Don’t resort to any kind of violence.”

Ms. Yingluck was banned from politics in January when a military appointed legislature found her guilty over her role in overseeing the disastrous Rice subsidy scheme.

The scheme paid farmers above market prices for their rice and cost state billions of dollars in losses.

Stay tuned…


Paul Ebeling

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

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