CHIANG RAI – A team of police in Chiang Rai raided a house in tambon Bandu in Muang district of Chiang Rai and arrested Ratchapon Chinnuthit, 30, on drug-trafficking charges, his assets worth over 100 million baht were also seized in the raid on Saturday.
Police seized three cars, large amounts of US dollars, gold and silver bars and gold ornaments, two weapons and other valuables worth more than 100 million baht, Thai media reported.
The raid was the culmination of an investigation that began when police Rayong Province arrested seven drug suspects and seized 88,000 speed pills in November 2012.
One of the suspects, Walarat Nindam, had implicated Mr Ratchapon in the drug trade. She told police that she had transferred drug proceeds totaling 200 million baht to his bank accounts on several occasions.
Police followed the money trail and found that Mr Ratchapon had transferred money to the bank accounts of Somphan Liewcharoen, a petrol station operator in Mae Chan district of Chiang Rai.
The Anti-Money Laundering Office on June 4 seized 150 million baht in assets from Mr Somphan.
Police said Mr Ratchapon confessed to drug trafficking charges and was being held in custody pending further legal action.