Ponzi Scheme Suspect Caught Trying to Flee the Country

[Jacob Maslow]

Police have caught another suspect in a transnational Ponzi scheme while she was trying to flee the country. Assistant national police chief Pol Lt Gen Suwira Songmeta stated that police arrested Namonphan Tharabundit in the Nong Kahi province on Thursday. Ms. Namonphan is a suspect in a major Ponzi scheme that allegedly scammed 20 billion baht out of over 100,000 people.

The scheme involves a company known as Ufun Store Co. The company was legally registered as a direct sales company, but was running operations in an unethical way. Ms. Namonphan holds approximately 9,000 shares in the company with an estimated worth of 900,000 baht.

Initial investigations found that Ms. Namonphan was the one who signed company documents. Other evidence shows that 80 money transfers had been conducted by her with an estimated value of 116 million baht. The money was transferred from Ufun to various other companies between June and November of 2015.

Investigators are working with the Anti-Money Laundering Office (Amlo) to follow Ufun’s money trails. Currently, Amlo is investigating Ufun’s assets to determine whether they should be frozen and returned to customers who were duped into doing business with the company.

The Criminal Court has approved 12 warrants for suspects who are allegedly involved in the scheme. One suspect, who is an executive of the company, has reportedly fled the country to Vietnam.

-- 2015-04-18

[worgeordie]

The Authorities always seem so slow in cases like this and they have

been many,and this will not be the last of them,letting the criminals

know the will be arrested in advance is not a good idea,or even asking

them "Please report to police station in next 2 weeks ,we would like to

talk to you ".in Thailand, crime of this type and corruption,does pay and

pay well.

regards Worgeordie

[Credo]

If you are poor the police show up, force their way into your home, tear it completely apart, arrest you and take you away, even if they don't find what they were looking for. They will find something.

If you are rich, and have a billion or so baht stashed in your house, they will come by, invite you to the police station when it is convenient for you to come and they will not search your house.

It probably helps if you show up with some of the stash that you say you don't have, but if you have the right name, you probably don't even have to do that.