2 more arrested over alleged pyramid scheme in Thailand

2 more arrested over alleged pyramid scheme in Thailand
In Singapore, Ufun has an office at CT Hub in Kallang. Mr Addy Tan, who was listed as a contact person on one of Ufun's Singapore websites, stressed that the organisation has nothing to hide.

Police have arrested two more suspects in the UFUN investment scandal who had a combined Bt160 million (S$6 million) in their bank accounts.

Three people, meanwhile, submitted evidence in defence of the purchase and sale of luxury items linked to the pyramid scheme embezzlement case.

Police arrested Tharathip Tosanthia, 25, from Sa Kaew, and Natthaphong Kosakarika, 46, from Chanthaburi. They bring to 34 the number of suspects arrested in the case.

Tharathip reportedly told police she opened a Kasikornbank account at the behest of her stepmother, Waewta sae-Low, to receive money from a direct-sales business.

Waewta later filed a complaint with police claiming the bankbook went missing, before Tharathip obtained a new bankbook and ATM card.

On April 17, Tharathip said Waewta asked her to withdraw Bt5 million from the account and close it. She said at the time she did not know anything about UFUN Thailand, or the pyramid scheme it allegedly operated, and was not a member of the company.

Pol Lt-General Suwira Songmetta, chief investigator, said the police were not impressed with Tharathip's statement and they would seek more evidence from her bank branch in relation to her deposits and withdrawals.

He alleged that Tharathip might have smuggled cash out of Thailand for UFUN's benefit and laundered the money at gambling dens in Cambodia, or exchanged the money for US dollars and smuggled it out of the country.

Suwira said Natthaphong posted messages on Facebook urging people to apply for a UFUN membership, resulting in nine people doing so. He said one membership could subject Natthaphong to a police investigation.

Colonel Angkoon Khlaiklueng, police commander, said documents and statements provided to the police by the three people who submitted evidence in defence of the purchase and sale of luxury items would be forwarded to the Anti-Money Laundering Office to decide if the assets should be seized.

Chaiyuth sae-Kam bought a Mercedes-Benz car from Wilaiwan Songsuwan, a UFUN suspect in custody, and Natthinon Phutthamrong bought a Porsche from Techasit Prasomsab, a naval non-commissioned officer on the run.

Kawin Wongsa-nguan, another suspect on the run, explained through his lawyer the details of the recent sale of a Bt25-million condo to UFUN.

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