DSI Arrests Suspect in Fraud Case at Suvarnabhumi Airport

The Department of Special Investigation (DSI) has arrested a key suspect linked to a fraudulent investment scheme involving the so-called Standard Morgan fund, which caused losses of more than 660 million baht. The suspect, identified as Mr Eugene Yew, a Malaysian national, was detained at Suvarnabhumi Airport while entering Thailand on the night of 19 April. Authorities said more than 700 victims were affected by the alleged scam.

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The arrest was carried out at around 23:00 by a joint team from the DSI surveillance and intelligence centre and Immigration Bureau Division 2 at the airport in Bang Phli, Samut Prakan. Mr Yew was apprehended under two arrest warrants issued by the Criminal Court, dated 30 August 2013 and 28 August 2023. The charges include violations of the Securities and Exchange Act 1992, the Emergency Decree on Fraudulent Borrowing 1984, the Computer Crime Act 2007, and conspiracy to commit money laundering.

Investigators allege that Mr Yew was part of a network of Thai and foreign suspects who persuaded members of the public to invest in the fictitious Standard Morgan fund. Victims were promised guaranteed returns and full protection of their investment, leading many to believe the scheme was legitimate. Funds collected from investors were reportedly transferred and concealed through various channels both domestically and internationally.

Authorities stated that the suspect was informed of the charges and his legal rights under the Criminal Procedure Code, including notification that audio and video recording would be conducted continuously during the arrest and detention process. Mr Yew acknowledged and understood the procedures before being handed over to DSI investigators specialising in financial, banking, and money laundering cases.

The case is classified under DSI special cases 171/2013 and 38/2019, reflecting its long-running and complex nature. Officials emphasised that the investigation has been conducted in line with policies set by DSI Director-General Police Major Yutthana Praedam, aimed at ensuring efficiency, continuity, and fairness in handling major financial crimes. The agency also highlighted the importance of maintaining public confidence in its investigative processes.

Matichon reported that further legal proceedings will now follow as investigators continue to gather evidence and pursue other individuals connected to the scheme. Authorities have indicated that efforts will remain ongoing to trace financial flows and recover assets where possible, both in Thailand and abroad.

Picture courtesy of DSI

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Adapted by ASEAN Now Matichon 21 Apr 2026