Thai police arrest Japanese woman wanted for pyramid scheme

A Thai Immigration officer, right, escorts Setsuko Yamabe of Japan before a press conference at the Immigration Office in Bangkok, Thailand, Wednesday, April 5, 2017. Thai police said Wednesday that they have arrested Yamabe wanted for allegedly running a multimillion-dollar pyramid investment scheme in her homeland. Yamabe persuaded victims to invest 700 million yen ($6.3 million) in a fund that she claimed would lend to companies and earn a high rate of return, Immigration Department chief Lt. Gen. Nutthorn Prawsunthorn said. (AP Photo/Sakchai Lalit)

BANGKOK — Thai police said Wednesday that they have arrested a Japanese woman wanted for allegedly running a multimillion-dollar pyramid investment scheme in her homeland.

Setsuko Yamabe persuaded victims to invest 700 million yen ($6.3 million) in a fund that she claimed would lend to companies and earn a high rate of return, Immigration Department chief Lt. Gen. Nutthorn Prawsunthorn said. Yamabe's investors would then recruit additional investors in the fashion of a multilevel marketing scheme, he said.

Some victims lost thousands of dollars and committed suicide, police said in a statement.

Yamabe was arrested on March 30 in the northeastern province of Ubon Ratchathani on a warrant issued by Japan's Kumamoto District Court for "crimes involving investments, deposits, and interest rates," police said. Her documents showed that she had traveled in and out of Thailand 15 times, most recently entering from neighboring Laos.

A spokesman for the Japanese Embassy in Bangkok, speaking on customary condition of anonymity, said Japanese police will take Yamabe back to Japan.

Must Read

Thai police raid temple belonging to Buddhist sect

Feb 17, 2017

Thai police have raided the head temple of a controversial Buddhist sect but failed to find and...

Police hunting for monk increase pressure on Thai temple

Feb 19, 2017

Police in Thailand who spent three days searching a vast Buddhist temple for a prominent monk...

Recent developments surrounding the South China Sea

Mar 6, 2017

The USS Carl Vinson, which is steaming through the South China Sea, is just one of several...

Thai prosecutors postpone appearance for Red Bull heir

Mar 30, 2017

An heir to the Red Bull fortune has won another delay in facing charges after an alleged hit and...

Thai king endorses new military-backed constitution

Apr 6, 2017

Thailand's king has signed the country's new military-backed constitution, approving a charter that...

About Us

Thailand Tribunal is the country’s next generation of digital news portal, bringing you non-stop news on the happenings in the country and all over the world.

Contact us: sales[at]thailandtribunal.com