Long-awaited arrest of Ufun pyramid scheme executive’s wife in Si Sa Ket
The long arm of the law finally reached Ratthakitbovorn, the wife of a Ufun online pyramid scheme executive, in Sisaket, nearly a decade after she disappeared. She was apprehended on Thursday, in front of a house in the Muang district of this northeastern province, by officers from the Consumer Protection Police Division (CPPD).
The Ufun scheme swindled around 14,700 people out of their hard-earned money, amounting to over 10 billion baht.
Ratthakitbovorn, whose surname remains undisclosed, wasn’t just a bystander in this large-scale scam, she held a key position in the Ufun organisation. The Criminal Court issued two warrants for her arrest, on June 23, 2015, and January 6, 2016, for her alleged involvement in transnational crime, public fraud, and money laundering.
When the CPPD police raided Ufun Store Co and its network back in 2015 due to their alleged participation in the Ufun international pyramid scheme, many suspects were arrested. However, some managed to evade capture, including Ratthakitbovorn.
The suspect, who is the wife of a Ufun Store Co-executive and a key figure in the fraud network, was found hiding in Si Sa Ket, where she was subsequently arrested. During her interrogation, Ratthakitbovorn denied any involvement in the fraudulent activities, but her pleas fell on deaf ears, and she was handed over to CPPD investigators for legal proceedings.
In March 2017, the Criminal Court handed down sentences to 22 defendants, totalling 12,267 years behind bars. Ufun lured investors in 2015 with the promise of high returns on investments in fruit juice drinks, and herbal and cosmetic products.
The scam didn’t stop there, with the Ufun network later coaxing people to invest in U-Token, a cryptocurrency fraud, and product purchases. Operating as a pyramid scheme, Ufun relied on new investors to pay out those at the top of the pyramid.
Victims of this massive scam filed multiple complaints with the CPPD, leading to the arrest of 164 individuals in total. The damage to the victims, who were left out of pocket, exceeded 10 billion baht, reported Bangkok Post.
