UFUN to also face tax-evasion charge

UFUN to also face tax-evasion charge

Prasong said investigation had found that UFUN, established since late 2013, claimed to have no income and hence did not pay any tax despite large amounts of money wired to its accounts that year on several occasions.

UFUN claimed the transfers were related to loans for business investment, though no documents indicated investment plans, he said. Also, the money was forwarded to individuals, whose details will be checked by authorities for links to UFUN.

"UFUN had deducted 5 per cent from all payments to members 'to pay the Revenue Department', but investigation found no such payments made to the department. Hence, members can file additional complaints to the police to recover that money," he added.

Of the 14 people on police's wanted list, eight have been arrested, including Chotipat Wutthihpanpokin. Assistant national police chief Pol Lt-General Suwira Songmetta said an arrest warrant would soon be issued for the 15th suspect.

More than 600 people have filed complaints against the UFUN Thailand scheme, claiming Bt154 million (S$6.13 million) in total damage, he said. Police have seized Bt800 million from the suspects so far.

An informed source said police has invited police liaison officers from the Malaysian and Australian embassies to a meeting tomorrow morning to exchange information on the UFUN network, which reportedly expanded to different countries.

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