Multi-billion-baht pyramid scheme magnate arrested in Phuket

  |   31 October, 2014   |   528   |   3980

PHUKET: A Chinese man who donated 34 million baht to a Phuket temple in July has been arrested along with two other Chinese nationals for their roles in a pyramid scheme that reportedly duped people out of a total of 9 billion baht in China and Malaysia.



In making the arrests, police seized cash and assets valued at more than 240mn baht, including at least 11 land titles for properties in Phuket.



Zhang Jian, 37, and Wang Wenfang, 29, were arrested at a condo in Bangkok’s Pathumwan district on Monday, while immigration police in Phuket arrested Geng Lian Bao at a home in the Land & Houses Park residential estate in Chalong the same day.