83 million baht in cash seized from a hotel suspected to be involved in money laundering

[webfact]

83 million baht in cash seized from a hotel suspected to be involved in money laundering

File photo. Source Internet

BANGKOK: -- Officials from the Department of Special Investigation, police and the southern regional Internal Security Operations Command seized 83 million baht in Thai and foreign currencies in a raid of a foreign-owned hotel in Songkhla’s Sadao district on Thursday.

The Wai hotel in Tambon Samnak Kham is affiliated with MBI group is said by the officials of owning six chain hotels, two resorts, nine apartment buildings, a housing estate called Asean Cultural Village a horse stable worth altogether about two billion baht. Officials suspected that MBI group was involved in money laundering business.

MBI group is led by a Malaysian identified as Teo Hui-huad as the managing director with Ms Nanthapak Panuwattankul and Nopparoj Siripatthanapark as members of the management in charge of all the businesses in Sadao district.

The 83 million baht cash in Thai baht, Malaysian riggit, Taiwanese dollars and Chinese Yuan currencies was stuffed in several baggages kept in Room No 401.

An informed source said that the Anti-Money Laundering Office would be asked to investigate the sources of the seized money whereas the DSI will investigate the group’s business transactions and registration in Thailand.

A source in the southern ISOC said that KPK hotel which is owned by the group is wellknown to be a favourite joint of senior government officials and several of them have stakes in the hotel which is why the hotel has been left untouched by local officials despite the fact that the entertainment venues in the hotel have been operating beyond the permissible hours.

The same source said that a Malaysian billionaire, Mr Lee Ar Han, who was shot dead by gunmen in Tambon Ban Phru, Hat Yai district about two months ago used to be a major shareholder in MBI group.

Source: http://englishnews.thaipbs.or.th/content/148629


-- Thai PBS 2016-01-29

[ezzra]

I'd like to be a fly on the wall when the hotel executives try to explain the source of all

that money in foreign currencies... I'm sure it's going to be one hell of an explanations....

[SABloke]

I'd like to be a fly on the wall when the hotel executives try to explain the source of all

that money in foreign currencies... I'm sure it's going to be one hell of an explanations....

Many hotels offer currency exchange (at a crap rate) so the foreign currency could be explained away...the fact that ot was stashed and hidden in bags is suspicious

[SOTIRIOS]

....wow....

...must have been 'ongoing'....???

[colinneil]

Maybe some guests left it with hotel management for safe keeping.

[kiwikeith]

wonder who the senior govt officials are???

Stupid place to laeve 83 miilion you would think safety deposit box somewhere would be better or bodgie account.

Might have been a tip off from someone jealous after all one of the main players was shot dead.

Nice place Hat Yai.

[trogers]

I'd like to be a fly on the wall when the hotel executives try to explain the source of all

that money in foreign currencies... I'm sure it's going to be one hell of an explanations....

Many hotels offer currency exchange (at a crap rate) so the foreign currency could be explained away...the fact that ot was stashed and hidden in bags is suspicious

Perhaps to avoid failed banks in the coming Mother of all financial crisis...

[sanukjim]

Tip to foreign business owners,Pay your taxes Tip the local BIB and the Provence BIB. Do not be stingy with the tips and you will now have left over a profit you can live on.Be "kinnieal" and try to keep as much as you can and when the time comes the BIB will remove all you "used to " own including any cash found.Also when they do this then your home country will take note of the income you have not been reporting and you may owe even more at home via tax and fines. Do not be a dummy,Share ,Bribe,and live with out worry.

[Ulic]

I'd like to be a fly on the wall when the hotel executives try to explain the source of all

that money in foreign currencies... I'm sure it's going to be one hell of an explanations....

For Thailand this is easy. Luggage left behind in storage by a wealthy foreign client

who travels/does business in these countries.

[kannot]

so probably its really 183 million then!!

[NCC1701A]

wait. Room No 401? that's my money!

[SoFarAndNear]

What a nice story we got here. Malaysian billionaire been shot with machine guns in a drive-by-shooting and a few weeks later one of his Hotels were seized and a few millions dollars cash ( in different currencies) found. The Hotels itself is in the middle of Dannok red-light disctrict. We can only guess what the reason for the high amount of visiting gvt senior officials are there.

Thailand as it's best

Nevermind. Here are some photos of real Thailand:

Edited January 29, 2016 by SoFarAndNear

[soc]

So thats where l left it!

[stickylies]

555 that tuktuk driver looks... farang!

[lvr181]

Foreign exchange has to be good way to launder money?