A Singaporean man suspected of orchestrating a massive and audacious Ponzi scheme is in police custody on Phuket today, according to Thai police.
Daryl Cai Yonghui was arrested Monday morning at Phuket International Airport, according to Maj. Yutthana Praedam of Department of Special Investigation, two months after a warrant was issued for his arrest in connection with the Forex-3D scam, which defrauded thousands of investors upward of THB20 billion (US$608 million).
Yonghui, 32, is wanted on suspicion of fraud and violating the Computer Crime Act, as per the details of the warrant, over his alleged role as a primary architect of the investment pyramid scheme, which promised large returns on foreign currency exchanges.
Yonghui narrowly evaded capture Saturday when DSI agents converged on his Bangkok condominium. Yonghui was not there.
The years-long investigation has implicated numerous celebrities accused of loaning their star power to the scam, including actress Savika “Pinky” Chaidej and Pattanapon “DJ Man” Kunjara.
Yonghui was due to meet with the DSI when he reportedly fled home to Singapore in October before returning last month without incident, sparking intense public complaints about inaction on the part of Thai authorities.
While dozens have been arrested, police are still looking for a Hungarian national named Eddy Polgari, who along with Yonghui was a close associate of Forex-3D founder Apirak Kothi. Apirak, who was arrested exactly one year earlier, has been charged with fraud.
Forex-3D started as a brokerage company which enticed people with returns of up to 80% on minimum investments of THB50,000 (US$2,000). Many celebrities were recruited to promote the business.
Nearly 10,000 Thais filed complaints over the Ponzi scam. A score of victims staged a 2019 protest in front of the DSI’s Bangkok headquarters, demanding it take action.
A Facebook page called Forex-3D Victims has more than 220,000 followers.
