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...

"Ghost Tower" haunts Bangkok 20 years after financial crisis

Mar 1, 2017

The 49-story Bangkok high-rise was supposed to feature luxury condos for hundreds of newly affluent...

Thai law enforcement seeks defrocking of Buddhist monk

Mar 10, 2017

Religious and law enforcement authorities appealed to Thailand's ecclesiastical supervisory board...

Thai elephant hospital, short of money, at risk of closing

Mar 17, 2017

What is believed to be the world's first elephant hospital says it may have to close because of...

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