The only foreigner arrested in the investigation of the massive Forex-3D pyramid scheme appeared in a Bangkok court this morning, two days after his arrest on Phuket.
Officers with the Department of Special Investigation, or DSI, took Singaporean Daryl Cai Yonghui to the Criminal Court where he was remanded into its custody. Yonghui has been charged with fraud and violating the Computer Crime Act over his alleged role as a primary architect of the Ponzi scheme which bilked investors for billions by promising large returns on foreign currency exchanges.
DSI officials said they will oppose his release on bail, reasoning that his crime caused “great damage” and because he poses a flight risk.
Neither Yonghui nor his girlfriend, Italian-Thai model Sarah Casinghini, said a word to reporters outside the court. They were represented by a lawyer.
Yonghui was due to meet with the DSI in October when he suddenly returned home to Singapore. He returned to Thailand last month without incident, sparking intense public complaints about inaction on the part of Thai authorities.
He narrowly evaded capture Saturday when DSI agents converged on their Bangkok condominium.
While dozens have been arrested, police are still looking for a Hungarian national named Eddy Polgari, who along with Cai 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 have filed complaints over the Ponzi scam with a score of victims staging a 2019 protest in front of the DSI’s Bangkok headquarters.
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