Thai medical tycoon wanted for fraud flees to China
Thai medical tycoon Boon Vanasin, known for his involvement with Thonburi Healthcare Group, has made headlines recently as he faces allegations of orchestrating a significant investment scam. Reports indicate that Vanasin, accused of misleading investors to the tune of 7.5 billion baht (approximately S$294 million), has fled to China, prompting authorities to issue a warrant for his arrest.
Since December of last year, the police have received over 500 complaints from nearly 250 individuals who believed they were investing in a series of medical projects across Thailand, Laos, and Vietnam. However, it seems these projects never materialized, leaving investors empty-handed. Some claim to have invested millions of baht based on Boon’s reputation and promises.
According to Nopasin Poolsawat, deputy commissioner of the Metropolitan Police Bureau, Boon left Bangkok for Hong Kong in September, and has since made his way to China. The police, in collaboration with Interpol, are actively seeking his arrest, along with nine alleged accomplices, who are believed to have played a role in the fraudulent scheme.
In response to these allegations, Thonburi Healthcare Group has distanced itself from the projects promoted by Boon. Boon’s wife and daughter, serving as directors within the company, have voluntarily submitted to questioning by the police to assert their innocence. They deny any involvement in the alleged fraudulent activities and claim that signatures on related documents were forged.
Boon Vanasin, who was previously fined by the Securities and Exchange Commission in 2022 for disseminating false information to investors, faces significant legal repercussions for his actions. The metropolitan police are in the process of transferring the case to the Central Investigation Bureau, and it may ultimately fall under the jurisdiction of the Department of Special Investigation.
As the situation continues to unfold, authorities are working diligently to bring those responsible to justice and ensure that affected investors receive the necessary support and recourse. Stay tuned for further updates on this developing story for more information as it becomes available.
