Crime

Police Arrest Principal in Illegal US$30 Million Pyramid Scheme

Published

2 years ago

February 26, 2022

Police Arrest Principal in US$30 Million Pyramid Scheme

On Friday, Crime Suppression police apprehended a 29-year-old woman for her alleged involvement in the infamous Ufun international pyramid scheme, which duped people out of more than US$30 million.

Crime Suppression police arrested Supatra, also known as Chatthita, on a road in Thanyaburi District, of Pathum Thani, a police spokesperson said.

In the police handout photos, the woman’s surname was not revealed, and her face was blurred.

She was wanted for collusion in transnational crime and public fraud by the Criminal Court on Dec 14 last year.

Several years have passed since the case began. In March 2017, the Criminal Court sentenced 22 defendants to a combined 12,267 years in prison.

In 2015, the Ufun Co pyramid scheme offered high returns on fruit juice drinks, herbal products and cosmetics.

Pyramid Scheme defrauded thousands of people

The Ufun network subsequently defrauded people by having them invest in cryptocurrency fraud known as UTOKEN and by having them purchase products.

This was a pyramid scheme, in which new investors were lured into paying the leaders.

The Consumer Protection Police Division (CPPD) received complaints from victims of the scheme, leading to the arrest of 164 people. According to estimates, the Primerica-like pyramid scheme caused more than US$30 million worth of damage to the victims.

Ms. Supattra, one of Ufun’s principals, was found hiding in Pathum Thani, Province on Wednesday by Crime Suppression police and Pathum Thani police. Both police agencies went to arrest her on Friday.

She acknowledged that she was the person named on the arrest warrant, but denied all charges. She was being held in custody at the Pathum Thani police station.