BANGKOK: – Police on Wednesday handed over 226 million baht worth of cash and valuables seized from executives and major shareholders of Ufun Store Company to the Anti-Money Laundering Office to determine whether they were illegally or legally acquired.
The assets which include cash, gold bars, land title deeds, gold ornaments, luxury watches were seized from the vaults of Mr Ratthawich Thitiarunwat and Mr Apichnat Saenkla, two suspects already held in police custody.
Pol Lt-Gen Suwira Songmetta, assistant national police chief, who is in charge of the probe into Ufuns operations, disclosed that as many 120,000 people have invested in Ufun which was accused of operating a pyramid scheme using direct sale as a front.
With the investors investing an average of 300,000 baht per held, the total amount of investment was estimated to be around 38 billion baht.
AMLO secretary-general Pol Col Sihanart Prayoonrat said if the impounded assets were proven to be illegally acquired, they would be auctioned off and proceeds from the auction would be used to compensate the affected investors.
– Thai PBS 2015-04-29