The Constitutional Court on Friday [February 21] dissolved Future Forward Party over a Bt191-million loan from its party leader. Its party executive members were banned from politics for 10 years.
The party allegedly violated the Political Act for receiving a Bt191-million loan from its leader, Thanathorn Juangroongruangkit during an election campaign last year.
The court said giving a loan at an abnormally low interest rate was deemed to benefit or facilitate benefit or give special help to the party.
It said the loan was huge so party executive members should have known that the party could be influenced or dominated by the lender.
The court also ordered that the electoral right of 16 party executive party members be revoked for 10 years, starting from the day the court issued the ruling. They were also barred from founding a political party or becoming party executive members of any party for 10 years.
After the party was dissolved, its 65 MPs must find a new party to join within 60 days to retain their MP status.
Thanathorn founded his party in March 2018 and set itself as the third force, a movement that would unlock a decade of political unrest. The party made strong moves against the arch-royalist establishment since seizing the political limelight with its intentional taking down of the army’s role in Thai politics and society.
The 40-year-old billionaire-turned-politician was stripped of his MP status by the Constitutional Court ruling in November because he had applied to contest the March general election last year while still holding shares in a media company, which is against the Constitution.