Those with links to pyramid scheme will face arrest: Thai police

[webfact]

Those with links to pyramid scheme will face arrest: police
THE NATION

BANGKOK: -- EVERYONE found to be involved in an alleged pyramid scheme that has affected more than 100,000 people and led to more than Bt10 billion in damages will be arrested and face legal action, a senior police officer said yesterday.

Assistant National Police chief Lt-General Suwira Songmetta said this when reporters asked for a comment on a report saying a police lieutenant-general was an executive of the company at the centre of the scandal.

"Police are investigating this case. Anyone found to be connected to the wrongdoing will face legal action, no matter who he is," he said.

Suwira yesterday led a police search on the headquarters of Ufun Store Co, located on Soi 25 Bang Na-Trat Road.

Four of the company's executives were arrested on Friday on charges of embezzlement, after police accused it of running a pyramid-scheme business.

The company was registered as a direct-marketing business.

The police team led by Suwira confiscated a number of computer servers from Ufun Store's head office. He said the search was aimed at finding additional information for the investigation into the case.

Inside the executive room on the sixth floor of the building, police found many documents that could be used to develop links to the executives involved in the scandal, he said. The assistant national police chief added the search was focused on the company's IT section and servers.

He said after the arrests of its executives, the company sent messages through social media that seemed to threaten its clients in a bid to stop them filing complaints with police. He suggested that the clients should not be worried about the veiled threat and should go on filing complaints.

Nine clients of the company, who have lost a combined Bt13 million, have filed police complaints, according to Suwira.

Police yesterday successfully prevented the arrested executives' attempt to seek a court's permission for temporary release.

The arrested executives are Ratthawit Thiti-arunwat, 34, Chaithorn Thonglorlert, 41; Ritthidej Warong, 39; and Apichanat Saenkla, 40. If found guilty, they face jail for five to 10 years and fines between Bt500,000 and Bt1 million each. The suspects have denied embezzling money from their clients, according to a police source.

Arrest warrants have also been issued for four other executives of the company - a Thai and three Malaysian nationals.

Source: http://www.nationmultimedia.com/national/Those-with-links-to-pyramid-scheme-will-face-arres-30257996.html


-- The Nation 2015-04-14

[jaidam]

Ufun store pyramid scheme = bad.

Elite card pyramid scheme = good.

[wabothai]

face arrest with opportunity to disappear?

How about have been arrested.

[Strangebrew]

I wonder why it took then so damn long to move on it I saw an ad in craigslist looking for more people to help in the scam when I called out the guy saying it was a scam he threatened me LOL so said then meet me at terminal 21 well he never showed up but his ad is gone maybe him too.5555555

[rwdrwdrwd]

Ufun store pyramid scheme = bad.

Elite card pyramid scheme = good.

How is the Elite card a pyramid scheme?

[Soutpeel]

Ufun store pyramid scheme = bad.

Elite card pyramid scheme = good.

How is the Elite card a pyramid scheme?

Quite, but what it does illustrate is that there people who don't understand the technicalities of what a pyramid scheme actually is or understand what exactly the TE program is all about

In other words they are clueless

[bangkapi]

Now they just need to do away with the central bank money conjuring ponzi scheme.

Ooops sorry... Those folks are too big to jail.