A Thai court has seized €1 billion worth of assets belonging to former premier Thaksin Shinawatra's family, about €660 million less than the maximum in a decision that could appease some anti-government forces.
Thailand's Supreme Court ruled that the self-exiled Thaksin had concealed his shareholdings in his family telecommunications conglomerate Shin Corp while in office from 2001-2006 and some of his government's policies had favoured the business.
It was unclear if the €660 million not confiscated would be returned to the twice-elected Thaksin, who was ousted in a 2006 coup and later convicted of corruption in absentia.
Authorities said major violence was unlikely in response to the ruling but mobilised thousands of police and troops to pre-empt any backlash by supporters of the 60-year-old fugitive at the centre of a five-year political crisis in southeast Asia's second-biggest economy.
The judges said Thaksin had abused his power in all five major cases against him, which included shaping telecoms and satellite policies, including concessions fees and state loans, to benefit Shin Corp.
Thaksin, ousted in a 2006 coup and convicted in absentia of graft, has denied the charges from self-imposed exile in Dubai.
After the verdict, he said he was not surprised. "The Thai law is like an assumption. It severely fails to meet international standards," he said in a video-link to about 800 supporters who gathered to rally behind him. Some of his red-shirted supporters cried or sobbed quietly, while others shouted in frustration and anger.
Some analysts say a court verdict unfavourable to Thaksin, could have added weight to allegations he was the victim of a political vendetta and spark an angry response from supporters.
The final verdict was reached after more than seven hours and came after the close of Thailand's stock market, which reopens next Tuesday after a long weekend holiday, allowing investors to weigh up the outcome.
Security remained tight around Bangkok's Supreme Court on what has become known as "Judgment Day", with cellphone signals jammed to prevent remote-detonated bombings and judges ferried to the courthouse, some from safe houses, in bullet-proof cars. Six-hundred police guarded the court.