Acting on a warrant issued by Phuket Provincial Court in September, 2011, police arrested Vladimir Antochili, 29, at an apartment on Soi Ramkhamhaeng in the Hua Mak area of Bangkok at 2.30pm.
Antochili, a resident of Sweden, is accused of being part of a gang of Russians who misappropriated funds intended for property purchases in Phuket after setting up a supposed real estate agency targeting wealthy Russian investors.
The hunt for Antochili and his accomplices was launched after the owner of a property for sale in Chalong reported to police that a buyer had paid money to the gang, but he, the seller, had received nothing.
Investigations revealed that the gang had received three payments of around B3 million each, as well as commission from the seller, together totalling some B10.5 million.
The gang members are also accused of fraud in another, similar, property deal worth Bt12 million.
After his arrest, Antochili was sent under escort to Phuket, where he is now in custody at Chalong Police Station. The other gang members reportedly left Thailand some time ago.