Connect with us


Gold shop owner arrested for money laundering 30 million baht

Neill Fronde



PHOTO: A gold shop similar to this is suspected of laundering 30 million baht for drug smugglers. (via Facebook/ปชส. จังหวัดภูเก็ต)

In a simultaneous raid of multiple locations around the Kanchanaburi province, police arrested a gold shop owner suspected of laundering money for drug smugglers. The Phet Thong Sap Thawee Lae Nalika Thong Thae Yaowarat gold shop in Muang district was raided by police and military and assets totalling about 30 million baht were impounded.

The 32 year old shop owner was taken into custody yesterday, accused of laundering money for smugglers moving drugs in from across the Burmese border according to the Anti-Money Laundering Office and the Narcotics Suppression Bureau. They believe that around 30 million baht passed through the shop from drug runners who frequently cross the border from Myanmar into the Kanchanaburi province.

While the shop owner denied any wrongdoing, saying he had no involvement with any money laundering, authorities believe cash from drug dealing was traded for gold bars that were then exported to other nearby countries, though officials did not specify which countries.

The previous day, police also picked up a 64 year old man in the Sangkhlaburi district of Kanchanaburi they believe was the other half of the laundering operation. The shop owner said that this second man acted as a regular customer, and would make purchases each month of about 200 to 300 baht-weight (about 2.9 to 4.4 kilogrammes) of gold bullion. He had been doing this for a few months according to the gold shop owner and would make a money transfer to the shop and after would come into the store to collect the gold bars.

The shop owner said he was not aware if that man was using the gold to launder money, and that he had reported any unusually large gold purchases to the Anti-Money Laundering Office. The police might not be buying that story though, as they impounded 5 million baht in cash, 13 million baht of gold jewelry, and a house valued at about 7 million baht.

SOURCE: Bangkok Post


Want more Thailand news from the Thaiger family?

📱 Download our app on Android or iOS for instant updates on your mobile
📝️ Join the conversation on Thaiger Talk - discuss news & life in our Thailand forums
📧 Subscribe to our daily email newsletter
👍 Like/Follow us on Facebook
🔔 Subscribe to or Join our YouTube channel for daily video updates


Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Neill is a journalist from the United States with 10 years broadcasting experience and national news and magazine publications. He graduated with a degree in journalism and communications from the University of California and has been living in Thailand since 2014.

Follow Thaiger by email:

Thailand13 hours ago

Thailand News Today | AoT warns about tourist exuberance, easing of restrictions | June 22

Coronavirus (Covid-19)14 hours ago

CCSA: Bars to stay closed for now, drunk customers risk the spread of Covid-19

Bangkok15 hours ago

Woman dies after jumping from Phra Khanong BTS station in Bangkok

Phuket Sandbox July 1st


Thaiger is getting behind local businesses for the restart of tourism in July - up to 50% discounts across all advertising packages in June!

Coronavirus (Covid-19)15 hours ago

263 covid cases linked to canned seafood factory in Songkhla

Drugs15 hours ago

Narcotics Control Board announce recent drug busts, heroin and cocaine sent by mail

Environment16 hours ago

3 Cambodian activists arrested for plotting against the government/insulting the king after documenting waste run-off

Chiang Mai16 hours ago

Chiang Mai eases restrictions, alcohol now allowed at restaurants

Thailand16 hours ago

Angry ex allegedly sets motorcycle on fire in school parking garage

Cambodia17 hours ago

6 arrested in Cambodia for allegedly trafficking people into Thailand

Coronavirus (Covid-19)18 hours ago

Tuesday Covid Update: 4,059 new cases; provincial totals

Thailand18 hours ago

Power outages coming to Kathu

Coronavirus (Covid-19)18 hours ago

Samut Sakhon governor calls for more vaccine doses after order was cut

Thailand19 hours ago

Fruit buyer arrested for allegedly using counterfeit certificates to export durian

Tourism20 hours ago

Airports of Thailand president says tourism won’t pick back up until October

Thailand20 hours ago

Mobile sterilisation/vaccination truck helps Pattaya’s cats and dogs

Thailand4 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism4 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket4 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism4 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand4 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism4 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand5 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand5 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand5 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand5 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand5 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand5 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand5 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand5 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand6 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8