The Shinawatra and Damapong families netted about 73 billion baht tax-free from the sale, using a regulation that made individuals who sell shares on the stock exchange exempt from capital gains tax.

[5] The Thailand Securities and Exchange Commission investigated the transaction and cleared the entire family from wrongdoing, except for Potjaman's son, Panthongtae.

[6] The SEC did find that Panthongtae committed minor infractions with regard to information disclosure and public tender offers in transactions between 2000 and 2002.

[7] Allegations of insider trading by Potjaman, other Shinawatra family members, Shin Corporation Corp executives, and major shareholders were also investigated.

[12] In January 2007, the Financial Institutions Development Fund complied with the Assets Examination Committee request to file a charge against Thaksin and his wife over their purchase of four 772 million baht plots of land from the FIDF in 2003.

The charge was based on alleged violation of Section 100 of the National Counter Corruption Act, which specifies that government officials and their spouses are prohibited from entering into or having interests in contracts made with state agencies under their authorisation.

[13] Section 29 of the Bank of Thailand Act of 1942 stated that the Prime Minister did not have jurisdiction to oversee the FIDF, because those managing the fund had sole authority for policies, control, oversight and regulations governing the agency.

[16] On 21 October 2008, the Supreme Court of Thailand's Criminal Division for Holders of Political Positions delivered a verdict on the Ratchadaphisek Land purchasing case, ruling that: As Thaksin and wife [Potjaman] defended themselves that the FIDF was not an administrative agency or state enterprise, and Thaksin, as the Prime Minister, had no powers and duties to supervise, scrutinise or monitor the Fund, resulting that the land purchasing case was not a conflict of interest.

[citation needed] The Court: By unanimous resolution, holding that the Fund was the administrative agency under Section 100, Subsection (1), of the National Counter Corruption Organic Act, BE 2542 (1997).

[citation needed] Therefore, Thaksin was found guilty of abusing his power to help his wife purchasing the land at a knock-down price, being sentenced to two years in imprisonment.

Bangkok Criminal Court Judge Pramote Pipatpramote also convicted Potjaman's adopted brother, Bhanapot Damapong, and her secretary: "The three defendants have high economic and social status.

[25] Thai Supreme Commander Gen. Boonsrang Niempradit and opposition leader Abhisit Vejjajiva accused Thaksin of hurting Thailand and damaging its reputation: "His Majesty the King recognizes highly the importance of the judiciary … The public should follow him.

"[26] On 17 September, Chief Justice Thonglor Chom-ngarm and the judges unanimously postponed the reading of the verdict to 21 October at 2 pm, and issued fresh arrest warrants for Thaksin and Potjaman.

[27] On 10 November 2008, the Department of Foreign Affairs (Philippines) Undersecretary Franklin Ebdalin stated "the government would 'politely' turn down any request for political refuge from the fugitive Thai leader, due to Manila's 'friendly' relations with Bangkok.

"[28] Amid Thai newspaper reports that Thaksin may land in Manila, his brother-in-law, Somchai Wongsawat, was set to arrive for a scheduled state visit on November 10 with Gloria Macapagal Arroyo (bilateral meeting on regional global financial crisis).

Prior the transfer, Panthongtae had written an agreement to settle a ฿4.5billion baht debt for buying 300 million shares of Thai Military Bank (TMB) to Potjaman.

DSI, AEC, and Securities and Exchange Commission later revealed common information that WinMark and the two funds are owned by Thaksin and Potjaman Shinawatra.