The Election Commission (EC) has cleared Future Forward party leader Thanathorn Juangroongruangkit of any wrongdoing for his announcement, ahead of the March 24^th general election, that he would transfer his assets into a blind trust.

Political activist Srisuwan Janya lodged a petition with the EC’s Office, asking the EC to determine whether Thanathorn’s announcement was a violation of Section 73 (5) of the Election Act or amounted to a public deceit to woo voters.

While campaigning in the Northeast in March, Thanathorn told a media briefing that he had signed a memorandum of understanding with Phatra Asset Management Company Limited to transfer his assets into a blind trust.

He said that, in most countries, a blind trust is a common way for businessmen entering politics to avoid conflicts of interest.

The billionaire politician has a net worth of about five billion baht.

According to the EC Office’s website, the EC ruled that Thanathorn’s remark was an election campaign promise and was not meant to fool anybody or to cause misunderstanding among the voters and, hence, he did not commit any offence.