46 condo units seized in UFUN raid in Bangkok

[webfact]

46 condo units seized in UFUN raid
Angsuma Sridokkham
The Nation



BANGKOK: -- POLICE SEIZED 46 condominium units yesterday at a project on Sukhumvit Soi 66/1 in Bang Na in Bangkok that were bought by suspects in the alleged UFUN pyramid scheme.

UFUN executives reportedly acquired the units, worth Bt70 million, as accommodation for foreign customers and members who met recruiting quotas.

Pol Lt-General Suwira Songmetta, assistant National Police chief, and Pol Colonel Angkul, deputy commander of Klaikleung Consumer Protection Police, obtained a search warrant |to inspect the units, for |which Ritthidej Warong, 39, |an arrested suspect, had signed a purchase contact.

UFUN has reportedly already paid Bt35 million in instalments for three luxuriously furnished VIP units for foreign customers and 43 standard units as rewards for successful recruiters.

Condo manager Suwiwat Suwan said Arthit Pankaew, a fugitive suspect, had bought the units to support leading members while the company take care of utility bills.

He also claimed to have seen Arthit's assistant Chaithorn Thonglorlert, who was already in custody, and two Chinese men at the building.

Suwira said police would soon summon the developer, who is on a business trip to Hong Kong, for questioning and impound the units for the Anti-Money Laundering Office to probe the money trail.

So far assets worth Bt800 million have been corralled in this case, he said.

He said UFUN's claim on its website that the company has been bullied by police, who were motivated by the chance of getting a 25-per-cent share of the seized assets, was untrue.

Also untrue was the claim that the company's attorney was seeking a list of the people who file complaints to the police.

Police would not publicly reveal the identity or faces of the victims, he said.

Another fugitive, Athiwat Soonpan, was a retired major general, not a lieutenant general as claimed, and police were eyeing pressing an extra charge against him of using a military uniform and insignia improperly, he said.

Source: http://www.nationmultimedia.com/national/46-condo-units-seized-in-UFUN-raid-30259266.html

-- The Nation 2015-05-04

[Bluespunk]

"He said UFUN's claim on its website that the company has been bullied by police, who were motivated by the chance of getting a 25-per-cent share of the seized assets, was untrue."

Nice one ufun.

That's going to really help your case.

Not inflammatory or provocative at all.

Idiots.

[oztaurus]

and of course "the developer, who is on a business trip to Hong Kong" is going to come home and face the music like a good little boy, isn't he ......

[trogers]

Who is the developer of "@ Room"?

[Srikcir]

"Police would not publicly reveal the identity or faces of the victims"

That would be a first.

But those victims who file complaints should be revealed since the complaints are a matter of public record.

[emilymat]

How do you 'seize' a condo?. I know what they mean but it's a funny word.

By the way, posing as a Lt General, when you are only a Major General probably carries the death penalty.!

[ezzra]

"He said UFUN's claim on its website that the company has been bullied by police, who were motivated by the chance of getting a 25-per-cent share of the seized assets, was untrue."

So now the thrives are complaining that someone else is taking the ill gotten loot fro them... wow...

only in Thailand, and they still have a website to do it on... this story gets weirder by the day....