Officials from the Department of Special Investigation searched a condo in Bangkok’s Bang Phlat area yesterday (Saturday) for a Singaporean man wanted for alleged involvement in the Forex-3D currency futures scam.
Armed with an arrest warrant, the DSI officers only found the Thai girlfriend of suspect Daryl Young, his clothes and some personal effects in the room.
Investigators think that Young is still in Bangkok and some of his clothes and personal effects were seized for DNA testing, one official said.
A security guard at the condo the told DSI officers that Young left the condominium shortly before their arrival.
According to the DSI, Young is among the third group of suspects charged with public fraud and violations of the Computer Crime Act, in connection with the currency futures pyramid scam. Several celebrities have also been implicated.
Forex-3D was a currency futures investment scheme, created by a forex exchange company called RMS Familia. It was founded in 2015, with a young Apiruk Kothi as the chief executive officer.
The company advertised, inviting members of the public to invest in currency futures by offering returns of about 10%per month on a minimum investment of 5,000 baht.
Several celebrities were recruited to promote the company’s business. Tens of thousands of people invested in the scheme at its peak. In 2019, however, the company started experiencing liquidity problems and began to default returns payments to their customers.
One of the celebrities is Thai actress Savika Chaiyadej, aka “Pinky”, who was arrested, along with mother and brother. She was released on bail in December after over three months on remand in the Central Women’s Correctional Institution in Bangkok.
Source: Thai Public Broadcasting Service