Massive U-Fun report to be handed to prosecutors tomorrow

Massive U-Fun report to be handed to prosecutors tomorrow
PHOTO: The Nation/ANN

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 (S$13.9 m).

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.

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