Massive U-Fun report to be handed to Thai prosecutors tomorrow

[webfact]

Massive U-Fun report to be handed to prosecutors tomorrow
The Nation



BANGKOK: -- The police investigation into alleged pyramid scheme operator U-Fun is complete and will be forwarded to prosecutors tomorrow for the issuing of indictments, chief investigator Lt-General Suwira Songmetta said on Monday.

There have been 2,451 U-FUN investor complaints filed with police with total claimed loses of Bt350,519,989.

Arrest warrants were issued against 164 U-FUN executives and senior investors, with 30 in custody, 110 on the run in Thailand and 20 on the run abroad, Suwira said.

Police have seized assets worth Bt830 million, including Bt300 million in cash.

In all, 140 assets have been seized - the greatest amount in a police history that includes overseas investigations into transnational crime, said police chief General Somyot Poompanmoung.

Suwira said the investigation report was more than 300,000 pages.

He said more than 300 police officers handled the paperwork in the investigation along with checking out 411 money transactions and 36,063 documents implicating wrongdoers,

That was in addition to the nine teams of police detectives that interviewed and compiled evidence from 307 commercial bank staff, 20 state officials, three experts and 43 people who had firsthand accounts of the wrongdoings.

Police would pursue suspects on the run in and outside Thailand, Suwira said.

Source: http://www.nationmultimedia.com/national/Massive-U-Fun-report-to-be-handed-to-prosecutors-t-30262857.html


-- The Nation 2015-06-23

[Bluespunk]

"Suwira said the investigation report was more than 300,000 pages."

Wow......that takes care of someones summer reading then.

And Autumn.

And Winter.

And Spring.

Probably Summer again.

[jaidam]

For Pete's sake do not let that Somyot anywhere near this case.

[NongKhaiKid]

" Police would pursue suspects on the run in and outside Thailand. "

Let's wait and see about the ' outside ' bit as the govt / BIB don't have much of a track record of chasing offenders overseas, they talk a good game and that's about it.

[Bluespunk]

For Pete's sake do not let that Somyot anywhere near this case.

He'll be long retired before anyone gets through the report.

[Manbing]

A new tactic, generate so much paperwork, convictions of certain senior players impossible to achieve.

[Kiwisailor]

"There have been 2,451 U-FUN investor complaints filed with police with total claimed loses of Bt350,519,989...............Police have seized assets worth Bt830 million, including Bt300 million in cash."

Case solved, and nearly Bt480 million to divvy up among the BIB - or perhaps they got their figures/sums wrong?

[MaiChai]

If they have so much evidence it should be easy to prosecute? Or will the rich and powerful worm their way out of it again?