Previously Arrested Pyramid Scheme Fraudsters Re-examined by DSI

 | Tue 9 Feb 2016 05:11 ICT

CityNews – On February 7, officials from the Department of Special Investigations with a search warrant from Lamphun Provincial Court, raided a house in connection to assets believed to be acquired through and illegal pyramid scheme.

DSI pyramid search

44-year-old Watcharapong Kaewboonruang and his wife, 37-year-old Pitchaporn Kaewboonruang were interviewed by police and released pending further investigations.

They had previously been arrested and had assets seized during the first investigations on the company last year.

Officials searched their house for any undeclared assets.

They are the leaders of the scheme that deceived people to invest gold into the PMB Pegasus Thailand Company Limited and Pegasus Bullion Limited, promising a 10 percent profit payment per month.

The company was founded in 2013 and then closed in 2015, with a total of around 1,000 victims from across Thailand. Damages were estimated to be up to 1 Billion baht in all.

The Thai DSI have seized assets from other members of the company reaching a total of 60 million baht so far.

They believe that around 20 people were involved with the fraudulent scheme.