The Department of Special Investigation (DSI) continued to trace the huge fortunes of alleged loan shark king after having obtained evidence that he owned over a billion baht property in Uthai Thani province.
DSI director of special investigative unit Pol Col Kolawit Boonnak said the loan shark boss Wichai Pan-ngarm or well-known as Sia Chai owned many properties by in Uthai Thani province, his hometown.
He said DSI would trace all his properties and impound them.
No matter how or in what way he has transferred the deeds, we will find all of them, he said.
He also said yesterday’s raids at his properties in Pathum Thani netted 29 land plots worth over 40 million baht.
But he said the impounded properties in Pathum Thani accounted less than 10 per cent of what he owns.
This excluded assets which have been previously transferred to other members of his family and his loan shark network.
In the mean time, the DSI is also investigating whether any state officials are also involved with the illegal activities.
Wichai occupies 29 land plots, mostly in Rattanakosin 200 Years housing estate in Thanyaburi district.
The impounded assets during yesterday’s raids included the PNG Apartment building, at 81 Soi Rangsit-Pathum Thani 10, a 5-storey building hosting 3 companies, including Thanachai 89, Phra Mae Toranee Kongka, and Chai Gold World.
These companies located in the seized building are made up of property and housing trading companies.
They opened as a cover up, where illegal loans were used to invest in them, the DSI director said.
Source: Thai Public Broadcasting Service (Thai PBS)