Thai cops lock up 13 rooms owned by Malaysian UFun suspect


  • Nation
  • Wednesday, 20 May 2015

BANGKOK: Thai police have raided and blocked access to 13 rooms at a condominium on Ratchadaphisek Road here owned by a Malaysian suspect involved in the controversial UFun investment scheme.

The Wednesday raid followed a recent discovery by police of UFun Store Co Ltd, an affiliate of UFun, having deposited US$10mil (RM36mil) with UDBP Management (Thailand), assistant national police chief Pol Lt-General Suwira Songmetta said.

Suwira is leading the investigation into UFun, which faces allegations of running a pyramid scheme.

He said Kevin Lai, who owns the rooms and is under police custody, was the manager of UDBP Management (Thailand), which was promoted openly as a commercial bank but not registered as one with the Bank of Thailand.

UDBP’s deputy manager, Chinese national Yang Yuan Zhao, 48, has also been arrested over allegations of wrongfully raising funds from 8,000 people in China and four in Thailand, Suwrira said.

The rooms had allegedly been used to host members of the UFun management and diplomats from Vanuatu, of which Lai is reportedly an honourable envoy since April 2014.

Suwira said Lai paid a salary to Vanuatu diplomats for conditions he did not specify.

Lai, who also held diplomatic status for the Micronesian country of Nauru in 2005 but was discharged from the post in 2011, continued misusing his diplomatic immunity for things such as importing luxury cars without paying taxes.

After receiving a notice from police about Lai’s fraudulent activities, the Foreign Ministry refused to accept Vanuatu government’s request to recognise him as a special envoy, Suwria said.

Meanwhile, three Thais and a Malaysian were arrested in Songkhla’s Padang Besar area for allegedly trying to smuggle Bt22.7mil (RM2.45mil) in cash withdrawn from the accounts of four UFun members into Malaysia. The four suspects were then flown back to Bangkok for a police press conference.

The suspects have been identified as Niphaphorn Lamee, Theerawaj Phatcharasuyayai, Natthawatra Uttamakaew and Boon Kiat Choo. – The Nation/Asian News Network

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Thailand , Malaysia , UFun , rooms , Courts & Crime

   

Next In Nation

Cops arrest man for stealing equipment from restaurant owned by actor
Three killed, six injured in car-van collision in Kluang
Ten rescued after being trapped at waterfall in Batang Kali
Flood preparedness notice issued for six states
Motorcyclist killed in accident with another motorcyclist
Give priority to capable civil servants for key posts, says Cuepacs
Workshop fire damages four vehicles in Johor
Perikatan needs CSA to become constructive opposition, says Saifuddin
More time needed before unveiling leaner Cabinet, says Anwar
Anwar wants cops to take action against those who falsely accuse him, says Fahmi

Others Also Read