70 Million Baht Assets Seized in Raid of Scandalous Loei Police Commander Ponzi Scheme
CityNews – Police hunt down judicial officers who are allegedly involved in a billion baht Ponzi scheme.
The investigation of a massive Ponzi scheme by the former commander of Loei Police, led authorities to a judicial officers’ network across the north of Thailand. Today, September 10th, armed police raided 10 locations suspected of being involved in the scheme. The raids were carried out across the northern and north eastern regions, including four in Chiang Mai. The targeted venues included Casa Condo in Chang Phueak, Casa Condo Eight Suan Dok which belonged to a former judicial officer of Chiang Mai Provincial Court, and residences in San Sai. The total assets seized during the raid is estimated at 70 million baht.
The Ponzi scheme, which was exposed around May this year, has reportedly funneled over a billion baht in working capital between 2014 and 2017. Police also found evidence that a judge is involved in the scheme, and as a request for arrest warrant was denied, police will be filing a behavior report to the judicial court to consider.