Background to the Forex-3D swindle

23 Sept 05:00 Key points summarised by AI

Forex-3D, launched in 2015 by Apiruk Kothi, operated as a Ponzi scheme, luring investors with promises of 10% monthly returns on forex futures and commissions for recruiting new members.
Apiruk enhanced the scheme's credibility by recruiting entertainment celebrities, but it ultimately collapsed in 2019 due to liquidity problems, leaving tens of thousands of investors unpaid.
Apiruk was arrested after fleeing, and the subsequent investigation led to the indictment of 25 suspects, including celebrity Savika Chaiyadej and her family, for defrauding over 9,800 investors of an estimated 1.9 billion baht.
Authorities have impounded approximately 570 million baht in assets, including properties and bank accounts, as part of the ongoing investigation into the widespread fraudulent scheme.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.