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Hysteria as billionaire returns to serve jail sentence
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Srettha promises to work tirelessly for Thailand
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Property mogul wins with unexpected ease in PM vote
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Thaksin has denied speculation of deal with enemies
(Recasts, writes through, adds graphic)
By Panu Wongcha-um, Napat Wesshasartar and Chayut Setboonsarng
BANGKOK, Aug 22 (Reuters) - Thailand's fugitive former premier Thaksin Shinawatra made a historic homecoming on Tuesday and was escorted to jail after years in exile, on a day when an ally and fellow tycoon was elected prime minister after winning a parliamentary vote.
The 74-year-old Thaksin, the billionaire founder of the electoral juggernaut Pheu Thai, finally made good on promises to go back to Thailand after a run of 15 years in self-exile, stealing the limelight from real estate mogul Srettha Thavisin as he prevailed for their party in parliament.
The return of Thailand's most famous politician was met with hysteria. Thaksin was given a rapturous welcome after arriving in Bangkok on his private jet before being escorted by police to the Supreme Court, then to a prison to serve eight years for abuse of power and conflicts of interest.
Srettha's victory paves the way for the populist Pheu Thai to form a new coalition government, ending weeks of uncertainty and stalemate in parliament after an election 100 days ago that threatened to weaken the political clout of the Southeast Asian country's powerful military.
Srettha, 60, a political neophyte and former president of luxury property developer Sansiri, was thrust into the spotlight just a few months ago and won the backing of two-thirds of parliament, an outcome that had been far from certain given the military's influence among hundreds of lawmakers.
"I will perform my duties to the best of my ability. I will work tirelessly to improve the livelihood of all Thais," the 6-foot-3-inch (1.92-metre) Srettha told reporters at Pheu Thai's headquarters, his voice drowned out by supporters chanting "Srettha, Srettha".
Srettha will be tasked with forming and holding together a potentially fragile coalition that includes parties created by the ultra-royalist army, which overthrew Pheu Thai governments in coups in 2006 and 2014.
Among those ousted was Thaksin, a former telecoms tycoon and owner of Premier League football club Manchester City, who was accused by the military of corruption, cronyism and disloyalty to the monarchy.
He fled abroad and was sentenced to jail in absentia in 2008. His sister Yingluck Shinawatra suffered an almost identical fate as prime minister a few years later. Both say the allegations against them were politically motivated.