Police hand over Ufun’s seized assets to AMLO

[Lite Beer]

Police hand over Ufun’s seized assets to AMLO

BANGKOK: -- Police on Wednesday handed over 226 million baht worth of cash and valuables seized from executives and major shareholders of Ufun Store Company to the Anti-Money Laundering Office to determine whether they were illegally or legally acquired.

The assets which include cash, gold bars, land title deeds, gold ornaments, luxury watches were seized from the vaults of Mr Ratthawich Thitiarunwat and Mr Apichnat Saenkla, two suspects already held in police custody.

Pol Lt-Gen Suwira Songmetta, assistant national police chief, who is in charge of the probe into Ufun’s operations, disclosed that as many 120,000 people have invested in Ufun which was accused of operating a pyramid scheme using direct sale as a front.

With the investors investing an average of 300,000 baht per held, the total amount of investment was estimated to be around 38 billion baht.

AMLO secretary-general Pol Col Sihanart Prayoonrat said if the impounded assets were proven to be illegally acquired, they would be auctioned off and proceeds from the auction would be used to compensate the affected investors.

Source: http://englishnews.thaipbs.or.th/police-hand-over-ufuns-seized-assets-to-amlo

-- Thai PBS 2015-04-29

[webfact]

UFUN manhunt begins as police send the details of 6 suspects to authorities globally
The Nation



BANGKOK: -- AUTHORITIES in 180 countries will be sent details of the six UFUN fugitives wanted by Thai police to answer charges for their part in a pyramid scheme that allegedly defrauded investors out of millions of baht, Pol Lt-General Suwira Songmetta, assistant to the police chief said yesterday.

The six suspects have already fled the country, Suwira said. Police will co-ordinate with Interpol to hunt them down |and Interpol will send officials |to Thailand to observe the |investigation and use it as a case study.

So far, 384 people have come forward to claim they lost Bt117 million and to file police complaints.

Meanwhile, police yesterday handed over to the Anti-Money Laundering Office (AMLO) the assets found in two safe boxes seized from two UFUN suspects.

The first safe box, seized from a Bangkok condominium on April 25, belonged to Rathawit Thiti-arounwat, a 31-year-old suspect who is now in custody.

This safe box contained Bt26.2 million cash and gold ornaments of Bt81 in gold weigh. When combined with the previously impounded housing units and cars, the seized assets belonged to Rathawit and his girlfriend, Piraya Hanphrom, also in custody, were worth Bt184 million, Suwira said.

The second safe box was seized on April 11 from the Bangkok house of suspect Apichanat Saenkla, 40, also in custody.

The box contained 35 items including jewellery, land title deeds and cash.

When combined with the previously impounded house and two cars, Apichanat's seized assets were worth Bt43 million.

AMLO chief Pol Colonel Srihanart Prayoonrat said AMLO would trace the origin of the assets and, if any were deemed to have been received illegally, they would be auctioned to get money to compensate the damaged people when the court gives its final ruling.

Srihanart also urged that the asset owners could explain the asset origins within 90 days.

Source: http://www.nationmultimedia.com/national/UFUN-manhunt-begins-as-police-send-the-details-of--30259053.html


-- The Nation 2015-04-30

[NanLaew]

Srihanart also urged that the asset owners could explain the asset origins within 90 days.

This one's easy.... "It belonged to [insert name(s) of the six suspects not yet apprehended here] m'lud, I was just looking after it."

[Acharn]

Srihanart also urged that the asset owners could explain the asset origins within 90 days.

This one's easy.... "It belonged to [insert name(s) of the six suspects not yet apprehended here] m'lud, I was just looking after it."

Yeah, just like Nixon's "good friend" Bebe Rebozo keeping $100,000 in a strongbox for the President, who couldn't have deposited the money in a bank.

[Oziex1]

Police handed over the assets.

All of it?

[kiwikeith]

Police handed over the assets.

All of it?

How much do you think the cash will go for at auction?

[fareastguy]

Police handed over the assets.

All of it?

How much do you think the cash will go for at auction?

Your presuming it reaches an auction house !!!