Retired politician and billionaire businessman was accused of violating Thailand’s strict laws on insults to royalty.

A Bangkok court has acquitted controversial billionaire and former Thai prime minister Thaksin Shinawatra, who was accused of insulting the monarchy. The charge related to an interview he gave to a South Korean newspaper ten years ago. He would have faced up to 15 years in jail if convicted.

Thailand's billionaire Shinawatra family is bracing for a series of high-stakes court decisions starting Friday that could test its political resilience, with the prospect of an early election and prolonged trouble for the country's stuttering economy.