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Singaporean Ponzi scheme suspect denied bail

Singaporean Ponzi scheme suspect denied bail

PHUKET: The Criminal Court yesterday (Jan 18) denied bail to a Singaporean held over alleged connections with the Forex-3D Ponzi scheme.

crimepoliceimmigration
By Bangkok Post

Thursday 19 January 2023, 01:46PM


Immigration police arrest Daryl Cai Younghui at Phuket airport on Jan 16. Photo: Achadthaya Chuenniran

Immigration police arrest Daryl Cai Younghui at Phuket airport on Jan 16. Photo: Achadthaya Chuenniran

Daryl Cai Younghui, 32, a close associate of Apirak Kothi, the founder of the infamous Ponzi scheme, was arrested on Monday at Phuket airport while waiting to catch a flight to his home country.

The Criminal Court issued a warrant for his arrest last November for his alleged involvement in the scheme that caused B2.4 billion of financial damage, reports the Bangkok Post.

Yesterday the Department of Special Investigation (DSI) sought to detain him for 12 days for further questioning and opposed a bail request.

Younghui’s lawyer submitted a request worth B500,000 as he told the court his client agreed to wear a tracking device while on bail.

The court rejected the proposal and deemed him a flight risk.

Younghui was later taken to Bangkok Remand Prison.

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Responding to the news, Italian-Thai model Sarah Casinghini, the suspect’s wife, said her husband would prove his innocence.

According to the DSI, Younghui colluded with Apirak in operating the Forex-3D Ponzi scheme in which more than 9,800 people fell prey with damages estimated at B2.5 billion.

Younghui’s arrest followed the couple’s appearance on a talk show on the ONE31 digital TV channel on Jan 11.

Ms Casinghini claimed on the programme that she was not involved in the Forex-3D scheme, adding that her husband had returned to Thailand to try and prove he was innocent of any crimes linked to the scheme.

Younghui was reported to have fled to Singapore from Thailand on Oct 25 last year, after the DSI pressed charges against him, including colluding to obtain loans to defraud and public fraud.

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Capricornball | 20 January 2023 - 09:09:38

This guy must be a major cash cow for the RTP.  I'm guessing that it will take a while for the RTP to milk his assets before he disappears from custody in other one of those RTP-assisted "escapes". I mean, if a huge fishing trawler can magically disappear (Interpol listed ship Taishan escapes Thailand with 182 tons toothfish), than one wealthy criminal can go !poof! in no time.

JohnC | 20 January 2023 - 08:48:43

"He had returned to Thailand to prove his innocence". Then why was he arrested while trying to leave the country?

 

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