Thai fugitive’s daughter in custody amid $340 million health scam

The daughter of a Thai medical tycoon, who fled to China following an alleged $340 million health scam, is now in custody.

The daughter of a Thai medical tycoon, who fled to China following an alleged $340 million health scam, is now in custody

A warrant is out for the arrest of Boon Vanasin, a former chairman of Thonburi Healthcare Group (THG), who is wanted for public fraud, money laundering and related offences after 250 people filed complaints against him and his group in the past year.

Samran Nualma, the assistant national police chief in charge of Boon’s case, said on Monday Boon’s daughter Navara Vanasin has been arrested on charges of defrauding the public and money laundering in connection with the alleged investment scam, which has cost its investors an estimated 7.5 billion baht — about $A340m, according to national publication Thai PBS World.

It comes as Boon’s other daughter Nalin, 51, together with his ex-wife Jaruwan, 79, were also arrested.

They both reportedly surrendered to police but denied all allegations, claiming they had no involvement in the alleged fraudulent schemes.

Thai medical tycoon Boon Vanasin fled to China amid a $340 million health care scam.

They also denied signing any cheques and said their signatures had been forged, according to The Bangkok Post.

In total, charges have been filed against ten people, including Mr Boon.

On Monday, armed police with warrants also searched two of the doctor’s offices for evidence. Several documents, including copies of title deeds and advertising material, were confiscated, Thai PBS World reported.

Bangkok police deputy commissioner Nopasin Poolsawat said victims believed they were investing in medical businesses in Thailand, Laos and Vietnam, promoted by Mr Boon.

“The victims believed they would profit from investing in these projects, but none of them exist,” Mr Poolsawat told Thai PBS World in an interview on November 28.

“We’re rushing the process to get a red notice from Interpol.”

Mr Nopasin said after two years of investments, “they have not seen a single thing happen”.

Some individuals claim to have invested as much as 600 million baht ($A26 million) because they trusted Mr Boon’s credibility.

It is understood Mr Boon used his reputation as a successful hospital executive to promote five medical-related projects, including a cancer centre and a wellness centre.

Thonburi Healthcare Group, of which Mr Boon was a former chairman, is listed on the Stock Exchange of Thailand.

It runs seven private hospitals in Thailand, including its flagship Thonburi Hospital in Bangko and one each in Myanmar and Cambodia.

The group’s facilities have 1,100 beds and a combined capacity to service up to 9,700 outpatients daily, making THG a leading healthcare provider in the country, according to its website.

Mr Poonsawat said Mr Boon left Thailand on September 29, travelling from Bangkok to Hong Kong before continuing to China.

Thai Interpol issued a Red Notice for Mr Boon — it is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.