The Department of Special Investigation of Thailand managed to seize assets worth 743 million Thai baht, the equivalent of roughly $243 billion, from suspects in the investigation regarding presumed fraudulent dealings by Forex-3D, otherwise an unlicensed online broker.
Among the latest seizures there were seven sports cars, discovered in Sukhumvit Soi 24, reports Bangkok Post.
We’re talking about a Maserati SUV, a Porsche Boxster, Ferrari Spyder, three Ford Mustang models, as well as a Toyota Vellfire, according to Somsak Thepsutin, Thailand’s Justice Minister.
This was the third round of confiscations, following last month’s raid. The DSI seized 11 properties in Bangkok, followed by four more, all of them estimated at over $23 million.
However, all confiscated assets so far are worth just half of the estimated losses reported by all investors involved in the scam.
Several people lost their money forever
After several investigations, Forex-3D turned out to be another Ponzi scheme that convinced thousands of victims to invest in foreign exchange trading, with the promise of higher returns. Still, none of the 3000 victims got anything back and reported their losses to the DSI.
The investigation is expected to be finished by the end of the year but there’s still no information regarding what will happen with all the amounts, totaling over $52 million, invested by more than 3000 persons.
Several personalities from Thailand were also involved in the Forex-3D scandal, as they were summoned by the Department of Special Investigation to clarify their connections to owner Apiruk Kothi, but also explained how they promoted the scam.
Among them are popular Thai singer Suteewan “Baitoey” Thaveesin, as well as her husband, Pattanapon “DJ Man” Kunjara Na Ayudhya. The two are expected to have a meeting with the DSI, as state witnesses, revealed a source close to the investigation.
They will be both questioned regarding the details o their business, as well as their revenue.
“If the two fail to clarify, officers may further investigate them for potential violations of the tax and anti-money laundering laws,” the same source said.
All Forex-3D promoters, to be investigated
More witnesses, including actress Sawika “Pinky” Chaident and her mother, who were also involved in promoting Forex-3D are expected to be questioned.
The legality of the exchange was questioned by Piyasiri Wattanavarangkul, the director of the DSI’s Bureau of Illegal Financial Business Crime, following a talk with the Bank of Thailand. Keeping it short, the fact that the Finance Ministry never granted permission to conduct online trading with other currencies is what triggered everything.