AMLO probes money trail of Billion Innovated Group's transactions

[webfact]

AMLO probes money trail of Billion Innovated Group's transactions



BANGKOK: -- The Anti-Money Laundering Office (Amlo) has launched a probe into the money trail of Mr Samrith Bandhitkrisda, chairman of Poen Tamruat soccer club, who is suspected of involvement in corruption concerning with 2.5 billion baht fund of teachers’ welfare fund for funeral services.

Amlo secretary-general Pol Col Sihanart Prayoonrat declined to offer details of the probe but said he expected to have some clues about the money trail within a few days.

He explained that normally in probing suspected corruption cases involving state officials, Amlo would coordinate with the National Anti-Corruption Commission and the Government Section’s Corruption Suppression Committee.

Mr Samrith, chairman of Billion Innovated Group, was arresred by Amlo officials on Monday on charges of forgery and using forged documents to convince teachers’ welfare fund to invest about 2.5 billion baht in the company’s project which offers returns of up to 7 percent per annum.

Source: http://englishnews.thaipbs.or.th/content/147292


-- Thai PBS 2016-01-20

[smutcakes]

Given long term Government bonds are paying about 2.6%, i would be extremely skeptical of anything relatively safe giving more than 4%.

I would suggest the Committee who Govern the teachers wellfare fund are not sufficiently capable of making decisions on this funds behalf, or they are willing to gamble with other peoples money, especially if they are renumerated or paid bonus on the funds performance.

Give me a mostly risk free 3% over a high risk and improbable legal 7% any day of the week, more so if i was charged with controlling a welfare fund.

[trogers]

Given long term Government bonds are paying about 2.6%, i would be extremely skeptical of anything relatively safe giving more than 4%.

I would suggest the Committee who Govern the teachers wellfare fund are not sufficiently capable of making decisions on this funds behalf, or they are willing to gamble with other peoples money, especially if they are renumerated or paid bonus on the funds performance.

Give me a mostly risk free 3% over a high risk and improbable legal 7% any day of the week, more so if i was charged with controlling a welfare fund.

That's teaching them...

[khaowong1]

Sounds like a Ponzi scheme.

[tomacht8]

I think the naive teachers can write off their money.

The lawyers from Mr Samrith Bandhitkrisda (bandit.... what a coincidence) will apply.bail.
Perhaps 5 million baht bail, and then he can fly to Ibiza and celebrate with 2.5 billions a nonstop party until his life ends.